Ian Seymour Elected President - The Institute of Chartered ...
Ian Seymour Elected President - The Institute of Chartered ...
Ian Seymour Elected President - The Institute of Chartered ...
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<strong>Ian</strong> <strong>Seymour</strong> <strong>Elected</strong> <strong>President</strong><br />
<strong>Ian</strong> <strong>Seymour</strong> was elected <strong>President</strong> and<br />
Chair <strong>of</strong> the Council <strong>of</strong> the <strong>Institute</strong><br />
<strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong> Manitoba<br />
for 2009-10 at the Council meeting held<br />
immediately after the <strong>Institute</strong>’s Annual General<br />
Meeting on June 16th.<br />
“It is an honour for me to serve as your<br />
<strong>President</strong> at such an important time for the<br />
pr<strong>of</strong>ession. Our nationally developed strategic<br />
plan is well into its implementation and the<br />
national cooperation and collaboration in<br />
support <strong>of</strong> our vision and mission continue to<br />
grow,” <strong>Seymour</strong> said.<br />
A particular priority that Council has<br />
identified to act in the public interest is<br />
the need to implement a public accounting<br />
licensing regime in Manitoba.<br />
This province is one <strong>of</strong> only two provinces in<br />
Canada where anyone can provide an audit or<br />
assurance engagement on most privately-held<br />
enterprises.<br />
“We believe it is in the public’s interest<br />
that this situation be changed. We have<br />
recommended a public accounting licensing<br />
system to the provincial government and we will<br />
keep you up-to-date with developments in this<br />
area, and how it relates to the labour mobility<br />
provisions <strong>of</strong> the Agreement on Internal Trade,”<br />
<strong>Seymour</strong> said.<br />
“<strong>The</strong> <strong>Institute</strong> fully supports the intent<br />
behind the AIT so long as it does not result in<br />
a lowering <strong>of</strong> standards. We believe that the<br />
solution to the public accounting issue is the<br />
development <strong>of</strong> common public accounting<br />
licensing standards across Canada that are<br />
consistent with international standards. We will<br />
be continuing to work toward this goal,” he<br />
added.<br />
<strong>Ian</strong> began his career with Price Waterhouse<br />
and Company in 1971 and qualified as a<br />
chartered accountant in Manitoba in 1975.<br />
He was admitted to partnership at Price<br />
Waterhouse in 1985 where he led practice units<br />
in Ottawa and Winnipeg.<br />
In 1992 he joined the International <strong>Institute</strong><br />
for Sustainable Development as Operations<br />
Manager and is currently Secretary Treasurer<br />
and Chief Financial Officer <strong>of</strong> the IISD.<br />
CAs Partner with Asper School<br />
<strong>The</strong> <strong>Institute</strong> announced a founding contribution <strong>of</strong> $500,000 to the new Downtown Campus <strong>of</strong> the I.H.<br />
Asper School <strong>of</strong> Business on May 11, 2009. Above (l-r): Gary Hannaford, FCA, CEO <strong>of</strong> the <strong>Institute</strong>; Dr.<br />
David Barnard, <strong>President</strong> <strong>of</strong> the University <strong>of</strong> Manitoba; Heather Clarke, FCA, then-<strong>President</strong> and Chair<br />
<strong>of</strong> the <strong>Institute</strong>; Dr. Glenn Feltham, Dean <strong>of</strong> the I.H. Asper School <strong>of</strong> Business.<br />
Issue #159<br />
June / July 2009<br />
<strong>Ian</strong> <strong>Seymour</strong>, CA, newly elected <strong>President</strong> <strong>of</strong> the<br />
<strong>Institute</strong> addresses members at the luncheon held<br />
following the AGM.<br />
<strong>Ian</strong> was first elected to Council in 2003.<br />
In 2007-08 he was appointed Second Vice-<br />
<strong>President</strong> and he served as First Vice-<strong>President</strong><br />
this past year.<br />
He has also served on the Interprovincial<br />
Board <strong>of</strong> Examiners and the <strong>Institute</strong>’s<br />
Corporate Governance and Nominating and<br />
Membership Linkages committees. <strong>Ian</strong> was<br />
Chair <strong>of</strong> Membership Linkages in 2007-08.<br />
Active in pr<strong>of</strong>essional and community<br />
affairs, <strong>Ian</strong> is completing his term as <strong>President</strong><br />
<strong>of</strong> the Rotary Club <strong>of</strong> Winnipeg. He is a Past<br />
<strong>President</strong> <strong>of</strong> the Volunteer Centre <strong>of</strong> Winnipeg<br />
and the University <strong>of</strong> Winnipeg Alumni<br />
Association. He is a past Treasurer <strong>of</strong> the Heart<br />
and Stroke Foundation <strong>of</strong> Manitoba.<br />
He has served as an <strong>of</strong>ficer and director <strong>of</strong><br />
the Manitoba Chamber <strong>of</strong> Commerce. He has<br />
also served on the editorial board <strong>of</strong> a series <strong>of</strong><br />
business advisory books published by one <strong>of</strong><br />
Canada’s leading banks.<br />
“I am honoured to serve as your president,”<br />
<strong>Seymour</strong> said. “<strong>The</strong>re will be challenges in<br />
the coming year. We may not always agree on<br />
everything, but I promise that I will endeavor<br />
to represent all <strong>of</strong> you, your interests and<br />
aspirations and the goals <strong>of</strong> the pr<strong>of</strong>ession to<br />
the best <strong>of</strong> my abilities. I look forward to a<br />
memorable year working with Council and the<br />
<strong>Institute</strong> staff.”<br />
FOLIO 1
Updated Independence<br />
Guide<br />
<strong>The</strong> independence standard, which is codified in<br />
Rule <strong>of</strong> Pr<strong>of</strong>essional Conduct 204, took effect<br />
in 2004. It has essentially remained unchanged<br />
since then, other than a revision in 2005 that<br />
took effect in 2006 to address mutual funds.<br />
<strong>The</strong> standard is lengthy, and the application<br />
in a number <strong>of</strong> circumstances is not well<br />
understood. For instance, one area <strong>of</strong> confusion<br />
is regarding the application <strong>of</strong> the independence<br />
standard to the ability to provide assurance<br />
services or compilation services when the<br />
practitioner is also assisting with the preparation<br />
<strong>of</strong> accounting records and/or journal entries, as<br />
well as the related disclosure requirements.<br />
At the June AGM the membership approved<br />
an additional Council Interpretation to<br />
Rule 204.8 - Independence - Disclosure <strong>of</strong><br />
Impairment <strong>of</strong> Independence.<br />
New paragraph 4 states, “For the purposes<br />
<strong>of</strong> Rule 204.8 the preparation <strong>of</strong> accounting<br />
records or journal entries in connection with<br />
a compilation engagement is not an activity<br />
that requires disclosure in the Notice to Reader<br />
unless such preparation involves complex<br />
transactions as contemplated by paragraph 143<br />
<strong>of</strong> the Council Interpretations to Rules 204.1<br />
to 204.6”.<br />
<strong>The</strong> Guide to Canadian Independence,<br />
FOLIO 2<br />
prepared in 2003 to provide guidance when the<br />
Rule was released, has recently been updated<br />
to cover additional areas that are subject<br />
to frequent calls to practice advisors <strong>of</strong> the<br />
provincial institutes. <strong>The</strong>se include:<br />
• <strong>The</strong> disclosure requirements for<br />
compilation engagements;<br />
• Communication requirements - both<br />
requirements by members and students<br />
to communicate within the firm any<br />
interests, relationships, or provision <strong>of</strong><br />
services precluded by Rule 204; as well as<br />
requirements by firms to communicate<br />
matters relating to independence to clients;<br />
and<br />
• <strong>The</strong> impact <strong>of</strong> the adoption <strong>of</strong><br />
International Standards on Auditing (ISA)<br />
as Canadian Auditing Standards (CAS).<br />
This Guide has been produced by the CICA<br />
in a PDF format, which will allow users to<br />
search by key words.<br />
A project is also underway to create an online<br />
version <strong>of</strong> the Guide that links references to<br />
the Rule <strong>of</strong> Pr<strong>of</strong>essional Conduct 204 and the<br />
related Council Interpretation to the Member’s<br />
Handbook for each PICA.<br />
An update will be sent to members by email<br />
when this is available.<br />
Financing Toolkit for Small &<br />
Medium Businesses<br />
<strong>The</strong> CICA is pleased to announce publication <strong>of</strong> <strong>The</strong> Financing Toolkit for Small & Medium<br />
Businesses, written by Gary A. Fitchett, CA in sponsorship with the Business Development<br />
Bank <strong>of</strong> Canada.<br />
<strong>The</strong> Financing Toolkit for Small & Medium Businesses<br />
is one <strong>of</strong> the most comprehensive, easy-to-use guides<br />
available on this subject. Written and vetted by<br />
experts in the field, it provides a structured step-bystep<br />
process for business owners to understand the<br />
various financial options and choices available to meet<br />
their specific needs.<br />
It then guides them, in plain and straightforward<br />
language, through the entire process, from drawing<br />
up a business plan, to the do’s and don’ts <strong>of</strong> the<br />
presentation, and responding to rejection should it<br />
come.<br />
<strong>The</strong> Toolkit is available to order at knotia.ca/store/<br />
financing or by calling (toll free) 1-800-268-3793.<br />
Auditor<br />
Selection<br />
To: <strong>The</strong> Members<br />
Each year the Audit Committee <strong>of</strong> <strong>The</strong><br />
<strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong><br />
Manitoba reviews the selection process<br />
for the <strong>Institute</strong>’s auditors and makes<br />
a recommendation to Council for the<br />
coming year.<br />
This is in turn ratified by the<br />
membership at the AGM. In addition,<br />
the Audit Committee sets the fee for the<br />
coming year.<br />
Members <strong>of</strong> the Manitoba <strong>Chartered</strong><br />
Accountants Foundation Inc. also<br />
approve the use <strong>of</strong> the <strong>Institute</strong>’s<br />
auditors as the Foundation’s auditors at<br />
their AGM.<br />
Booke and Partners has now been<br />
approved as the <strong>Institute</strong>’s and<br />
Foundation’s auditors for 2009-2010.<br />
In considering the appointment <strong>of</strong><br />
auditors, the committee evaluates the<br />
performance <strong>of</strong> the current auditors and<br />
has found that they continue to meet<br />
expectations.<br />
<strong>The</strong> committee has discussed the<br />
advantages and disadvantages <strong>of</strong><br />
changing auditors and feels that<br />
other than “optics”, there has been no<br />
compelling reason to change.<br />
<strong>The</strong> Committee has agreed however<br />
that if expressions <strong>of</strong> interest were to<br />
be received from other firms, it would<br />
consider a tendering process, with a fee<br />
to be pre-set by the Audit Committee.<br />
Rick M. MacKay, FCA<br />
Chair<br />
2008-2009 Audit Committee
Council and Officers <strong>Elected</strong> for 2009-2010<br />
At the 123rd Annual General Meeting<br />
<strong>of</strong> <strong>The</strong> <strong>Institute</strong> held on June 16, 2009, ten<br />
members were elected to serve on Council<br />
for a two year term.<br />
<strong>The</strong> ten members elected were Cheryl<br />
Atchison, Stephen Childerhouse, James<br />
Doer, Larry Frostiak, David Loewen, Rick<br />
MacKay, Stuart McKelvie, Brenna Minish-<br />
Kichuk, Richard Pope, Kevin Regan, and<br />
Heather Reichert.<br />
At the Statutory Meeting <strong>of</strong> Council<br />
following the AGM, Council elected the<br />
2009-2010 Officers and members <strong>of</strong> the<br />
Executive Committee. Council is composed <strong>of</strong><br />
the <strong>of</strong>ficers, members-at large and two public<br />
representatives.<br />
2009-2010 Officers <strong>of</strong> Council<br />
<strong>Ian</strong> R. <strong>Seymour</strong>, CA, <strong>President</strong> & Chair<br />
Douglas J. Tkach, CA, First Vice-<strong>President</strong><br />
James D. Doer, CA, Second Vice-<strong>President</strong><br />
Rick M. MacKay, FCA, Secretary-Treasurer<br />
Above: Kevin Dancey, FCA, <strong>President</strong> and CEO <strong>of</strong><br />
the CICA was the keynote speaker at the luncheon<br />
held following the Annual General Meeting.<br />
<strong>Ian</strong> <strong>Seymour</strong>, CA<br />
<strong>President</strong> & Chair<br />
Members-at-Large<br />
Cheryl A. Atchison, CA<br />
Stephen W. Childerhouse, CA<br />
Jeffrey G. Cristall, CA•CBV<br />
Larry H. Frostiak, FCA<br />
Catherine J. Kloepfer, FCA<br />
Dave Loewen, CA<br />
Brenna J. Minish-Kichuk, CA<br />
Teresa L. Okerlund, CA<br />
Richard D. Pope, FCA<br />
Kevin E. Regan, CA<br />
Heather D. Reichert, CA<br />
Doug Tkach, CA<br />
First Vice-<strong>President</strong><br />
Left: Incoming <strong>President</strong> <strong>Ian</strong> <strong>Seymour</strong>,<br />
CA (left) thanks outgoing <strong>President</strong><br />
Heather Clarke, FCA for her service<br />
on Council at the Annual General<br />
Meeting <strong>of</strong> the <strong>Institute</strong>.<br />
Right: Irene Merie (left) is thanked for<br />
serving six years on Council as one <strong>of</strong><br />
the public representatives by outgoing<br />
<strong>President</strong> Heather Clarke, FCA.<br />
James Doer, CA<br />
Second Vice-<strong>President</strong><br />
Public Representatives<br />
Dr. Jerry L. Gray<br />
Anita R. Wortzman LLB<br />
Rick MacKay, FCA<br />
Secretary-Treasurer<br />
Under the <strong>Institute</strong> bylaws, one member<br />
must work and reside outside <strong>of</strong> Winnipeg.<br />
Both Jeffrey Cristall and Brenna Minish-Kichuk<br />
meet this requirement.<br />
<strong>The</strong> two public representatives are appointed<br />
to Council by the <strong>President</strong> <strong>of</strong> the University <strong>of</strong><br />
Manitoba. This is Jerry’s fifth year serving as a<br />
public representative and Anita’s first.<br />
Anita Wortzman Appointed<br />
as Public Rep to Council<br />
<strong>Ian</strong> <strong>Seymour</strong>, <strong>President</strong> <strong>of</strong><br />
representative on Council from<br />
<strong>The</strong> <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong><br />
2003-09.<br />
Accountants <strong>of</strong> Manitoba, is<br />
Anita is CEO <strong>of</strong> Acumen<br />
pleased to announce that Anita<br />
Corporate Development Inc. She<br />
R. Wortzman, LLB, was recently<br />
has a law degree and a Bachelor<br />
appointed to Council for a two<br />
<strong>of</strong> Commerce, with a major<br />
year term.<br />
in Marketing. Anita was Chief<br />
Anita joins Dr. Jerry Gray as a<br />
Operating Officer <strong>of</strong> Activa<br />
public representative serving on<br />
Consumer Promotions and prior<br />
Council.<br />
As required under the<br />
provisions <strong>of</strong> <strong>The</strong> <strong>Chartered</strong><br />
Anita R. Wortzman LLB<br />
Public Representative<br />
to that, Anita was responsible<br />
for US acquisitions for Assante<br />
Corporation.<br />
Accountants Act, RSM, Anita’s<br />
She has been active in the<br />
appointment was made by Dr. David Barnard, community, serving on the Boards <strong>of</strong> Jewish<br />
<strong>President</strong> <strong>of</strong> the University <strong>of</strong> Manitoba. She Foundation <strong>of</strong> Manitoba and as past <strong>President</strong><br />
replaces Irene Merie, who served as a public <strong>of</strong> the Board <strong>of</strong> Jewish Education.<br />
FOLIO 3
Accounting Standards for Private Enterprises<br />
New accounting standards for private companies take an<br />
important step forward<br />
Much attention has been focused on the 2011<br />
adoption <strong>of</strong> International Financial Reporting<br />
Standards (IFRS) for publicly accountable<br />
enterprises but Canadian standards setters<br />
recognize that IFRS might not meet the needs<br />
<strong>of</strong> all private companies.<br />
“<strong>The</strong> AcSB recognizes that one size does not<br />
necessarily fit all. While some private businesses<br />
will opt to report under IFRS, the majority will<br />
prefer to adopt a more straightforward set <strong>of</strong><br />
standards specifically tailored to address private<br />
business issues,” said Ron Salole, Vice-<strong>President</strong>,<br />
Standards - Canadian <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong><br />
Accountants<br />
<strong>The</strong> AcSB’s proposed changes to Private<br />
Company GAAP are outlined in a recent<br />
Exposure Draft Generally Accepted Accounting<br />
Principles for Private Enterprises. This Exposure<br />
Draft puts forward a separate set <strong>of</strong> accounting<br />
standards focused on private enterprises.<br />
“<strong>The</strong> proposed standards focus on the<br />
needs <strong>of</strong> users <strong>of</strong> private enterprises financial<br />
statements and take into account the difficulties<br />
private companies face in applying complex<br />
accounting standards,” said Greg Edwards,<br />
Principal with the AcSB responsible for private<br />
enterprise issues.<br />
“<strong>The</strong>y include simplified recognition and<br />
measurement standards for several complex<br />
accounting issues, including financial<br />
instruments, and substantially reduced<br />
disclosure requirements.”<br />
Congratulations!<br />
<strong>Chartered</strong> Accountant William H. Loewen and his wife Shirley E.<br />
Loewen were recipients <strong>of</strong> the Winnipeg Arts Council Arts Champion<br />
Award.<br />
<strong>The</strong> Award was presented by Councillor Gord Steeves, on behalf <strong>of</strong><br />
Mayor Sam Katz at the Mayor’s Luncheon for the Arts on June 11,<br />
2009.<br />
<strong>The</strong> Arts Champion Award honours an individual or business patron<br />
that has demonstrated sustained support to the arts in Winnipeg.<br />
For decades, William and Shirley Loewen have supported the arts<br />
in Winnipeg. <strong>The</strong>y were nominated by the Winnipeg Symphony<br />
Orchestra, <strong>The</strong> Manitoba Opera, and the Manitoba <strong>The</strong>atre Centre.<br />
Congratulations to Bill and Shirley who received a unique work by<br />
Winnipeg artist Jeanette Johns.<br />
Pictured on the right, Gord Steeves (left) presents Shirley and Bill Loewen,<br />
FCA with the Winnipeg Arts Council Arts Champion Award.<br />
FOLIO 4<br />
Go to www.acsbcanada.org/edpegaap to<br />
view the Exposure Draft. Comments are to be<br />
received by July, 31 2009.<br />
Senior level AcSB and CICA staff are<br />
participating in various events across the<br />
country to raise public awareness <strong>of</strong> the<br />
proposed standards and encourage stakeholder<br />
input on the exposure draft.<br />
For more information see the cover story in<br />
CAmagazine (May) Private Matters and visit<br />
the CICA’s Canadian Standards in Transition<br />
website for developing orientation and training<br />
materials.<br />
Updates on the deliberations will be made<br />
public on AcSB’s website (www.acsbcanada.org)<br />
following the comment deadline.<br />
Overview<br />
<strong>The</strong> proposed standards are built from the<br />
existing CICA Handbook– Accounting, which<br />
will be familiar to many users thereby not<br />
requiring extensive education or training.<br />
Change on recognition and measurement<br />
issues is limited to areas <strong>of</strong> most concern<br />
to stakeholders, most notably: financial<br />
instruments; employee future benefits; asset<br />
retirement obligations; internally developed<br />
intangible assets; impairment testing for<br />
goodwill and other intangible assets; and, stockbased<br />
compensation.<br />
Other major changes include elimination <strong>of</strong><br />
EIC Abstracts as they currently exist, deletion <strong>of</strong><br />
sections and guidelines thought to be generally<br />
irrelevant to this sector, and a total refocus <strong>of</strong><br />
disclosure requirements.<br />
<strong>The</strong> new standards aim to reduce the number<br />
<strong>of</strong> specific disclosure requirements (reduced<br />
by approximately one-half as compared to<br />
the existing Handbook) while still providing<br />
sufficient information to give a fair presentation<br />
<strong>of</strong> an enterprise’s financial position and<br />
operating results.<br />
<strong>The</strong> Exposure Draft also contains a new<br />
section that sets out transitional provisions<br />
for first-time adoption <strong>of</strong> the proposed<br />
standards. Section 1500, First-time Adoption, is<br />
designed to ensure an enterprise’s first financial<br />
statements prepared in accordance with the<br />
new standards contain high-quality information<br />
that is transparent and comparable, provide a<br />
suitable starting point for accounting under<br />
new standards, and can be generated at a cost<br />
that does not exceed the benefits to financial<br />
statements users.<br />
<strong>The</strong> proposed standards would be effective<br />
for annual financial statements relating to fiscal<br />
years beginning on or after January 1, 2011, but<br />
early adoption would be permitted.<br />
<strong>The</strong> AcSB expects that the final standards will<br />
be issued in time for use for 2009 calendar-year<br />
end financial statements. <strong>The</strong>y will be available<br />
to any private enterprise. No size threshold or<br />
other barriers, such as unanimous consent by<br />
shareholders <strong>of</strong> other users, will be imposed.
Foundation<br />
Board<br />
Approves<br />
New<br />
Strategic<br />
Plan<br />
<strong>The</strong> Manitoba <strong>Chartered</strong> Accountants<br />
Foundation approved its new strategic<br />
plan on May 5, 2009.<br />
<strong>The</strong> is the first new strategic plan in<br />
almost 10 years and it focuses on five key<br />
strategies:<br />
• Influencing increased CA candidate<br />
intake<br />
• Implementing a comprehensive<br />
fundraising strategy<br />
• More effectively promoting the<br />
Foundation<br />
• Promoting academic excellence<br />
• Updating other existing Foundation<br />
activities<br />
<strong>The</strong> new plan reflects modernized<br />
thinking with a significant shift toward<br />
focusing on students in secondary<br />
schools and universities as well as<br />
immigrants and potential career<br />
changers.<br />
In the past, most <strong>of</strong> the awards, bursaries<br />
and scholarships have been more focused<br />
on individuals who have already become<br />
CA students. <strong>The</strong> Board also feels more<br />
attention must be spent on recognizing<br />
and attracting young aboriginals into the<br />
pr<strong>of</strong>ession.<br />
In Manitoba, in particular, this should<br />
be considered a significant untapped<br />
resource that may benefit substantially<br />
from some financial support as they<br />
pursue careers.<br />
To accomplish the strategic plan the<br />
Board has also identified specific action<br />
steps for the next two years and the work<br />
is already underway.<br />
Scholarships Awarded<br />
Students from over 200 high schools across the province applied and seven individuals were chosen to<br />
each receive a $1,000 scholarship.<br />
Each recipient displayed high scholastic achievement together with outstanding accomplishments<br />
in work, school, and community activities. In addition, they have all indicated that they will be<br />
continuing their education at a Manitoba university and that they intend to enter the CA pr<strong>of</strong>ession<br />
upon completion <strong>of</strong> their degree.<br />
CA High School Scholarships<br />
<strong>The</strong> <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong> Manitoba is pleased to announce that Stephanie<br />
Faintuch, Alison Smith, Jennifer Solman, and Mark Tomiak are the recipients <strong>of</strong> the 2009 <strong>Chartered</strong><br />
Accountant High School Scholarships and wishes them every success in their future endeavors.<br />
Stephanie Faintuch Alison Smith Jennifer Solman Mark Tomiak<br />
Allan M. Moore Scholarships<br />
<strong>The</strong> Manitoba <strong>Chartered</strong> Accountants Foundation congratulates Jaylene H<strong>of</strong>fman, Steven<br />
Honcharik, and Dustin Johnson, recipients <strong>of</strong> the 2009 Allan M. Moore Scholarships, and wishes<br />
them every success in their future endeavors.<br />
Jaylene H<strong>of</strong>fman Steven Honcharik Dustin Johnson<br />
Retiring Foundation Chair<br />
Paul Wright, FCA, served the past two years as <strong>President</strong><br />
<strong>of</strong> the Manitoba <strong>Chartered</strong> Accountants Foundation and<br />
was Vice-<strong>President</strong> from 2006-2007. He first joined the<br />
Board seven years ago.<br />
Right, retiring Foundation Chair, Paul Wright, FCA, accepts<br />
a token <strong>of</strong> appreciation from outgoing <strong>Institute</strong> <strong>President</strong>,<br />
Heather Clarke, FCA at the Annual General Meeting held<br />
June 16th, 2009 at the Winnipeg Convention Centre.<br />
FOLIO 5
Bookmark It!<br />
www.cica.ca/ifrs<br />
<strong>The</strong> <strong>Chartered</strong> Accountants <strong>of</strong> Canada’s IFRS website is your trusted source for everything IFRS. It<br />
provides one-stop access to the latest IFRS information and learnings, expertise from the pr<strong>of</strong>ession,<br />
and a broad range <strong>of</strong> resources and courses.<br />
IFRS Resources<br />
<strong>The</strong> CA pr<strong>of</strong>ession <strong>of</strong>fers a wide range <strong>of</strong> resources to help you facilitate a seamless transition to IFRS.<br />
Courses, conferences, reference materials, downloadable publications, ideas on how to get started and<br />
implementation tools are easily accessible at www.cica.ca/ifrs.<br />
Here is a sampling <strong>of</strong> what is available.<br />
• <strong>The</strong> CICA’s Guide to IFRS in Canada<br />
Our quick reference guide includes a<br />
comparison, prepared by the staff <strong>of</strong> the<br />
AcSB, <strong>of</strong> the CICA handbook standards<br />
with comparable IFRS standards<br />
• Introduction to IFRS – Implications for<br />
Canadian Business<br />
Highly recommended for every Canadian<br />
CA. This 3-hour e-learning course is an<br />
excellent IFRS primer, providing the ABCs<br />
<strong>of</strong> everything IFRS. It is free, <strong>of</strong>fered in<br />
English and French, and qualifies for CPD<br />
credits.<br />
• In-depth IFRS 1 – First Time Adoption<br />
3-day program providing in-depth<br />
coverage <strong>of</strong> key issues you and your<br />
organization will need to address during<br />
the transition to IFRS. Basic IFRS<br />
understanding required.<br />
Vancouver: Sept. 23-25<br />
• IFRS Immersion<br />
4-day program providing rigorous and<br />
comprehensive coverage <strong>of</strong> major IFRS<br />
requirements. Basic IRRS understanding<br />
required.<br />
Toronto: Dec. 14-17, Halifax: Aug. 10-13<br />
• Research Skills for and IFRS World<br />
This web-based 20-hour self study course<br />
provides background on the accounting<br />
methodologies in Canada, the US and<br />
internationally. You will be provided with<br />
FOLIO 6<br />
•<br />
practical research methodology guidance<br />
as well as a completed research memo for<br />
training purposes.<br />
Financial Reporting in Canada Under IFRS<br />
Provides practical IFRS explanations and<br />
illustrations, focusing on the needs <strong>of</strong><br />
preoparers <strong>of</strong> financial statements and<br />
practitioners.<br />
…and for Your Clients<br />
• IFRS Conversions: What CFOs Need to<br />
Know and Do<br />
Helps CFOs address conversion<br />
implications, including consideration <strong>of</strong><br />
the conversion process itself and issues<br />
relating to risk, stakeholder relations,<br />
financial reporting, andinternal controls<br />
which will be triggered by the transition.<br />
• Pre 2011 Communications about IFRS<br />
Conversion<br />
This CPRB guidance discusses all aspects<br />
<strong>of</strong> conversion and advocates a proactive<br />
and transparent communication strategy to<br />
serve preparers, investors, and analysts.<br />
• 20 Questions Boards <strong>of</strong> Directors and<br />
Audit Committees should ask about IFRS<br />
Conversions<br />
Discusses key considerations and the<br />
questions board and audit committee<br />
members should be asking now to ensure<br />
their organizations are prepared for IFRS<br />
conversions.<br />
Changeover<br />
to IFRSs:<br />
Jan. 1, 2011<br />
12 reasons to stay<br />
the course<br />
<strong>The</strong> Accounting Standards Board<br />
(AcSB) says delaying the adoption<br />
<strong>of</strong> International Financial Reporting<br />
Standards due to the current economic<br />
climate is not a viable option.<br />
<strong>The</strong> AcSB recently released a paper<br />
entitled, “Canadian Accounting<br />
Standards, Changeover to IFRSs: January<br />
1, 2011”.<br />
This publication explains twelve factors<br />
the Board considered for the 2011<br />
changeover date for the adoption<br />
<strong>of</strong> IFRSs by publicly accountable<br />
enterprises.<br />
January 1, 2011 is not an arbitrary date.<br />
It was chosen after much discussion,<br />
analysis <strong>of</strong> the factors that affect financial<br />
reporting in Canada and examination <strong>of</strong><br />
all available options.<br />
<strong>The</strong> key factors that were debated,<br />
weighed and considered are discussed<br />
within the bulletin. Costs and benefits<br />
were carefully considered; vital<br />
considerations in this time <strong>of</strong> restraint.<br />
<strong>The</strong> various factors and progress to date<br />
were reassessed last year. Canada is “on<br />
track.” <strong>The</strong> AcSB continues to monitor<br />
the situation in light <strong>of</strong> the current<br />
market conditions and other factors.<br />
Changeover to IFRSs: January 1, 2011,<br />
can be accessed at the AcSB’s website at<br />
www.acsbcanada.org.
New practical experience requirements<br />
Some changes, more recruitment opportunities for firms<br />
<strong>The</strong> pr<strong>of</strong>ession’s new practical experience<br />
requirements, already in place for corporate and<br />
government employers <strong>of</strong> CA Students, come<br />
into effect for all CA firm training positions<br />
beginning on or after September 1, 2009.<br />
At that time, all “grandparented CATOs” –<br />
i.e. all CA firms already approved to train CA<br />
students (former “ATOs”) – will be required<br />
to adopt the new requirements for positions<br />
in the traditional audit and assurance streams.<br />
Students hired before September 1, 2009 may<br />
complete their practical experience under<br />
former requirements.<br />
Significant changes<br />
<strong>The</strong> new requirements have minimal impact<br />
on CA firm training programs, since they are<br />
based on CA firm best practices. <strong>The</strong> most<br />
significant changes are:<br />
• the introduction <strong>of</strong> a formalized<br />
supervision structure<br />
Annual S<strong>of</strong>tball Tournament<br />
Ten teams took to the field in this year’s annual s<strong>of</strong>tball<br />
tournament. CXA Recruiting defeated MNP Brandon 16-8 to win<br />
the A-side final and the Ernst & Young Trophy.<br />
Accounts Playable, one <strong>of</strong> the teams representing MNP<br />
Winnipeg, defeated the defending champions, KPMG, with a<br />
score <strong>of</strong> 13-2 in the B-side final.<br />
Thanks to all participants and extra kudos to the MNP team<br />
who came in from Brandon for the event.<br />
• regular, documented meetings between a<br />
“Counselling Member”, who acts as a CA<br />
mentor and each CA Student<br />
• a Record <strong>of</strong> CA Qualifying Experience<br />
(“RQE”), which all CA Students must<br />
maintain; and<br />
• revised requirements for reporting to the<br />
Pr<strong>of</strong>ession.<br />
New recruiting opportunities<br />
<strong>The</strong> new requirements also allow CA firms to<br />
recruit students directly into practice areas other<br />
than audit and assurance, such as taxation or<br />
business advisory services.<br />
Students qualifying as CAs through these<br />
routes would not be required to meet the<br />
mandatory hour requirements to practice<br />
public accounting, but would develop their CA<br />
competencies in other areas.<br />
Not everyone who is qualified and interested<br />
in training to be a CA wants to train in audit<br />
and assurance; opportunities in other areas<br />
allows the pr<strong>of</strong>ession to benefit from their<br />
talents and abilities.<br />
CA firms interested in training students<br />
in these other areas should contact Kathy<br />
Zaplitny at the <strong>Institute</strong> at (204) 924-4411 or<br />
kzaplitny@icam.mb.ca for more information.<br />
All CA Training Offices in Manitoba will<br />
receive a detailed information package on the<br />
new practical experience requirements in early<br />
summer.<br />
You can also get more information at our<br />
dedicated website at www.CATOadvantage.ca<br />
or by contacting Lara Greguric, Associate<br />
Director, CA Training Office Liaison at<br />
greguric@casb.com or at (604) 488-2645 or<br />
(toll free) 1-866-420-2350.<br />
Practical experience requirements are<br />
changing – but they are changes that respect<br />
and enhance the excellence <strong>of</strong> CA student<br />
training.<br />
<strong>The</strong> team from CXA Recruiting, winners <strong>of</strong> the Ernst & Young Trophy.<br />
B-side winners, Accounts Playable.<br />
FOLIO 7
FOLIO 8
2009-2010 Fall / Winter PD Program<br />
Accounting, Financial Reporting and<br />
Assurance<br />
Accounting, Auditing & Pr<strong>of</strong>essional Practice<br />
Update<br />
Compilation Engagements<br />
Evaluating Internal Control: A “Top Down<br />
Risk Based” Audit Approach<br />
Financial Statement Presentation &<br />
Disclosure<br />
Fraud Happens! What to do when you<br />
Suspect Fraud<br />
How to Approach the Audit <strong>of</strong> Simple<br />
Entities<br />
IFRS – Financial Statement Note Disclosure<br />
IFRS – Financial Statement Presentation<br />
IFRS – On a Need to Know Basis<br />
IFRS – Revenue Recognition<br />
IFRS – Survey <strong>of</strong> the Standards<br />
Preparing Working Papers for an Audit<br />
PSAB Update<br />
Quality Assurance<br />
Revenue Recognition<br />
Review Engagements<br />
Small Practices – How do we Survive &<br />
Thrive<br />
Transition to International Auditing Standards<br />
Transitioning to Private GAAP<br />
Understanding Fraud Risk Factors<br />
Taxation<br />
Advanced Tax Planning Strategies<br />
Catching Up – 5 Years <strong>of</strong> Income Tax<br />
Developments<br />
Corporate Tax Returns<br />
CRA Charities Directorate Road Show for<br />
CAs<br />
Eligible Dividend Regime<br />
Everyday Tax Issues for the General<br />
Practitioner<br />
General Practitioners “Need to Know”<br />
GST Refresher for Pr<strong>of</strong>essionals<br />
GST Issues for the Non-pr<strong>of</strong>it Sector<br />
2009 Income Tax Update<br />
Interest, Penalties and Fairness<br />
Introduction to U.S. Corporate Taxation<br />
Practicing Safe Tax<br />
Tax for Controllers<br />
Tax Decisions with Long-Term Implications<br />
Tax Issues in Real Estate: What Do You Need<br />
to Know?<br />
Tax Issues for Private Corporate Groups<br />
Taxation <strong>of</strong> Domestic Family Trusts:<br />
Advanced<br />
Taxation <strong>of</strong> Domestic Family Trusts: Basic<br />
Taxation <strong>of</strong> Domestic Trusts – Compliance<br />
PD Passports On SALE Now!<br />
Buy Early & Save!<br />
<strong>The</strong> Personal Passport<br />
Offers the convenience and flexibility <strong>of</strong> 5 seminar days (any combination <strong>of</strong> ½ day, full day<br />
and two day sessions).<br />
• Member Pricing: $800 until October 16<br />
$950 after October 16<br />
• Non Member Pricing:<br />
$1,100 until October 16<br />
$1,200 after October 16<br />
<strong>The</strong> Corporate Passport<br />
Allows you or others in your organization 9 seminar days (any combination <strong>of</strong> ½ day, full day<br />
and two day sessions).<br />
$2,000 until October 16<br />
$2,200 after October 16<br />
<strong>The</strong> Mini Passport – ONLY for members who are exempt from paying fees or are paying<br />
reduced fees<br />
Offers the convenience and flexibility <strong>of</strong> 3 seminar days (any combination <strong>of</strong> ½ day, full day<br />
and two day sessions).<br />
$250 until October 16<br />
$300 after October 16<br />
To purchase a PD passport, go to www.icam.mb.ca and download a registration form or call<br />
us at 942-8248. Please note that mini passports and personal passports can be purchased using<br />
the Member Login at www.icam.mb.ca.<br />
Wealth Management<br />
Charitable Giving – A Detailed Review <strong>of</strong><br />
Tax Issues and Planning Strategies<br />
Creating a Financial Plan<br />
Creative Compensation and Fringe Benefits<br />
for Small Business<br />
Estate Planning for High Net Worth<br />
Individuals<br />
Personal Investing<br />
Planning for a Successful Retirement<br />
Tax Planning for Owner Managers on<br />
Business Succession<br />
Income Tax Considerations when Investing<br />
What is Wealth Management for Affluent<br />
Canadians<br />
Corporate Finance<br />
Advanced Business Valuations<br />
Corporate Treasury Management<br />
Introduction to Business Valuations<br />
Management, Leadership & Pr<strong>of</strong>essional<br />
Development<br />
Advanced Internet Research Techniques for<br />
Accountants<br />
Delegation – Sharing the Load Effectively<br />
Effective Financial Analysis for Business<br />
Decisions<br />
Enhancing Individual & Team<br />
Communication<br />
Getting the Most Power from your Brain<br />
Insights into Coaching and Mentoring<br />
Leading Effective Meetings<br />
Leading from Within<br />
Manitoba Check-Up – A Presentation on<br />
Living, Working & Investing in Manitoba<br />
Motivating Employees and Recognizing<br />
Contribution<br />
Open Source Business Tools for Accountants<br />
Speed Reading<br />
Strategy & Risk Management for Financial<br />
Managers<br />
Tax for Controllers<br />
<strong>The</strong> CFO and Risk<br />
<strong>The</strong> CFO and Governance<br />
Information Technology<br />
Excel Budgeting & Forecasting Techniques<br />
Excel Tips – Part I<br />
Excel Tips – Part II<br />
Outlook for Accountants<br />
Word Beyond the Basics<br />
PD On-Line<br />
CICA Handbook Accounting Refresher<br />
Income Tax Refresher – Corporate<br />
Income Tax Refresher – Personal<br />
FOLIO 9
Here and <strong>The</strong>re With Members<br />
(Unless otherwise noted, members are resident in Winnipeg)<br />
BARFUSS, Jeffrey W. (2000) previously<br />
with Enmax Corporation is now with<br />
ConocoPhillips in Calgary, AB.<br />
BARNES, Dionne N. (1997) is the Director<br />
<strong>of</strong> Finance and Administration with St.<br />
Margaret’s School in Victoria, BC.<br />
BOMHOF, Jeremy J. (2005) formerly with<br />
Deloitte & Touche LLP is now with Exchange<br />
Industrial Income Fund.<br />
BORGER, D. Mark (1986) is now with New<br />
Flyer Industries Canada Inc.<br />
BUCKINGHAM, David E. (2009) recently<br />
accepted the position <strong>of</strong> Assistant Controller,<br />
Grain Merchandising, with Richardson<br />
International Limited.<br />
CARTER, Donald, G.A. (1974) received a<br />
Distinguished Service Award from the Alberta<br />
<strong>Institute</strong> for his contribution to accounting<br />
education in Canada.<br />
CHAN, Rosita M.C. (1979) has left OPTI<br />
Canada Inc. and accepted a position with<br />
Nexen Inc. in Calgary, AB.<br />
CREWSON, Delmore C.W. (1967; FCA 1982)<br />
was appointed Chair <strong>of</strong> Finance Canada’s<br />
external Audit and Evaluation Committee by<br />
the Deputy Minister.<br />
DYCE, Brian R. (1978) previously with Acsion<br />
Technologies Inc. is now with Red River<br />
College.<br />
ENNS, Teresa P. (2009) formerly with Ernst &<br />
Young LLP is now Senior Financial Analyst<br />
with <strong>The</strong> Wawanesa Mutual Insurance<br />
Company.<br />
FETTERLY, Sarah K. (1985) is now with<br />
Sequoia Energy Inc.<br />
FRASER, Laura M. (2008) previously with<br />
Deloitte & Touche LLP is now Corporate<br />
Accountant with Westman Group Inc.<br />
GREWAR, Cheryl C. (1988) formerly with<br />
Mondrian Hall Inc. is now with Frantic<br />
Films.<br />
FOLIO 10<br />
HENLEY, Dwayne E. (1991) previously with<br />
Big Freight Systems Inc is now with Medicure<br />
Inc.<br />
HERMAN, Gerald N. (1982) is now<br />
with Parexel International in Lowell,<br />
Massachusetts.<br />
JANSEN, Diane C.M. (1985) formerly with Air<br />
Canada is now with the City <strong>of</strong> Winnipeg.<br />
KOLISNYK, Heather C. (1995) previously<br />
with Standard Aero Limited is now with the<br />
Workers Compensation Board <strong>of</strong> Manitoba.<br />
KUKELKO, Michael D. (1987) formerly with<br />
Pope & Brookes LLP is now with Meyers<br />
Norris Penny LLP.<br />
LYSYK, Bonnie J. (1985) is now Vice-<strong>President</strong>,<br />
Internal Audit, with Omers in Toronto, ON.<br />
LYTLE, Ryan J. (1998) previously with Viterra<br />
is now with Motor Coach Industries.<br />
MORRISON, Sandra J. (1984) formerly with<br />
CAA Manitoba has accepted a position<br />
with Agency Accountability and Support,<br />
Manitoba Family Services and Housing.<br />
NERO, Kenneth J. (1992) is now with the<br />
Province <strong>of</strong> Manitoba.<br />
NEUDORF, Gordon V. (1990) previously with<br />
Deloitte & Touche LLP is now Senior Vice-<br />
<strong>President</strong> with Meyers Norris Penny LLP.<br />
NICHOLAS, David R. (1983) has accepted a<br />
position with Stefanson Lee Romaniuk.<br />
RAMSEY, M. Brett (2006) is now with the<br />
Canadian Wheat Board.<br />
ROBERTSON, Allison L. (1998) has accepted<br />
the position <strong>of</strong> Manager <strong>of</strong> Taxation with<br />
Cangene Corporation.<br />
SCHMIDT, Anthony J. (2007) has transferred<br />
with BDO Duwnoody LLP to their <strong>of</strong>fice in<br />
Morden.<br />
SHIELDS, J. David (1990) formerly with the<br />
Canadian Grain Commission is now with<br />
Holuk<strong>of</strong>f Chiarella.<br />
SORBA, Alan B. (2001) <strong>of</strong> Tokyo, Japan, was<br />
previously with KPMG Azsa and Co. and is<br />
now with Goldman Sachs Japan Co. Ltd.<br />
STEWNER, Dennis D. (1996) has left<br />
Momentum Health Information Services<br />
to accept a position with Wellington West<br />
Holdings Inc.<br />
STOVEL, Kenneth B. (1978) formerly<br />
with Vansco Electronics Ltd. is now with<br />
Prendiville Industries.<br />
THIESSEN, Timothy C. (2001) recently<br />
transferred from George Town, Cayman<br />
Islands, with Endeavour Financial Corp to<br />
Vancouver, BC.<br />
THOMAS, Heidi J. (2005) is now with<br />
Standard Aero in the department <strong>of</strong> External<br />
Reporting.<br />
WEBER, Alan D. (1990) previously with<br />
St. Boniface General Hospital has recently<br />
accepted the position <strong>of</strong> Administrative<br />
Director, Manitoba Renal Program, with the<br />
Winnipeg Regional Health Authority.<br />
WILLIAMS, Glenn D. (1988) formerly with the<br />
Winnipeg Free Press is now Chief Financial<br />
Officer with Arnold Bros. Transport Ltd.<br />
WRIGHT, Dawna K. (1995) <strong>of</strong> Victoria,<br />
Australia, has left Deloitte & Touche to accept<br />
a position with McGrathNicol.<br />
YOUNG, Peter E. (2000) was recently<br />
promoted to the position <strong>of</strong> Chief Financial<br />
Officer with Cummins Western Canada.<br />
In Memoriam<br />
We record with regret the passing <strong>of</strong>:<br />
William Marriott DOUGLAS<br />
(Member 1948)<br />
Passed away March 9, 2009<br />
Gordon Asgeir GISLASON<br />
(Member 1948)<br />
Passed Away May 3, 2009<br />
Kenneth Sidney SASLEY<br />
(Member 1966-2001; 2003)<br />
Passed Away April 26, 2009
Wanted:<br />
Golf Tourney<br />
Prize Donations<br />
<strong>The</strong> annual members’ golf tournament is<br />
being held on Thursday, September 3 at<br />
St Boniface Golf Club.<br />
If you or your employer are interested<br />
in donating prizes for the event, please<br />
contact Michelle Chartrand at 924-<br />
4418 or mchartrand@icam.mb.ca. All<br />
sponsors are acknowledged at the event<br />
and in Folio.<br />
Registration forms are enclosed with this<br />
mailing. <strong>The</strong> tournament is open to CAs,<br />
CA students and one invited guest per<br />
member/student.<br />
Coming<br />
Events<br />
Golf Tournament<br />
St. Boniface Golf Club<br />
Thursday, September 3<br />
12 pm Shotgun Start<br />
Member Recognition Dinner<br />
<strong>The</strong> Fairmont Winnipeg<br />
Thursday, October 29<br />
Reception 6 pm<br />
Dinner 6:45 pm<br />
UFE Results Release<br />
Friday, December 4<br />
Summer Hours<br />
<strong>The</strong> <strong>Institute</strong> is open from 8:30 am to<br />
4:30 pm for the summer. <strong>The</strong> <strong>of</strong>fice will<br />
be closed on the following Statutory<br />
Holidays:<br />
• August 3<br />
• September 7<br />
• October 12.<br />
Welcome to New Members<br />
■ Admitted by Affiliation<br />
Kerrin Dale KERNEY (SK 1994)<br />
Wendy Leigh-Ann SCHULTZ (ON 2004)<br />
■ Admitted by Examination<br />
Maureen R. ARZAGA<br />
Jennifer Dawn BROCKLEHURST<br />
David Edward BUCKINGHAM<br />
Kara Deanne BURGOYNE<br />
Andrea Gail Rivera FRANCO<br />
Thomas Robert Ernest HOLMES<br />
Crystal H. JOHNSON<br />
Paul Antonin LABOSSIERE<br />
Gregorio Juab LABUSTRO JR<br />
Robert Wayne LAM<br />
Peng LI<br />
Paul Jospeh Edwards MAILHOT<br />
Michael Jay SCHACTER<br />
Dingding SONG<br />
Ye TU<br />
Monis Zaheer UDDIN<br />
Retired Members<br />
<strong>The</strong> following members (year <strong>of</strong> designation shown<br />
in brackets) retired and were granted partial or full<br />
exemption <strong>of</strong> membership fees.<br />
Samuel George ANDREW (1975)<br />
Robert John BLACK (1956)<br />
William Dymetro BODMAN (1968)<br />
Gordon Wayne DOERKSEN (1977)<br />
William Davidson HARGREAVES (1980)<br />
George David LLOYD (1969)<br />
Kenneth Milton MCLEAN (1966)<br />
Gerard Henri Joseph RODRIGUE (1972)<br />
Michael Walter SAFINIUK (1975)<br />
Resigned in Good Standing<br />
Please note that members who move to another<br />
province or territory in Canada or Bermuda,<br />
obtain membership with that <strong>Institute</strong> <strong>of</strong> residence<br />
and do not wish to retain Manitoba membership<br />
are required to advise the Manitoba <strong>Institute</strong><br />
in order to avoid suspension or termination <strong>of</strong><br />
membership in Manitoba. Resignations in good<br />
standing have been accepted for the following:<br />
Scott Yukuto AMANO<br />
Member 2001<br />
(Residing in Calgary, AB)<br />
Rayhan AZMAT<br />
Member 2007<br />
(Residing in Toronto, ON)<br />
Ge<strong>of</strong>frey George BELL<br />
Member 1986<br />
(Residing in Duluth, MN)<br />
Victoria Eleanor BRADBURY<br />
Member 2006<br />
(Residing in Calgary, AB)<br />
News <strong>of</strong> Members<br />
Linda CHANG<br />
Member 2009<br />
(Residing in Vancouver, BC)<br />
Arron Dev KAURA<br />
Member 1999<br />
(Residing in Calgary, AB)<br />
Denis Leon LALIBERTE<br />
Member 1978<br />
(Residing in Winnipeg)<br />
Michelle Leanne LEMOINE<br />
Member 2008<br />
(Residing in Ymir, BC)<br />
Michael Walter MCADAM<br />
Member 1998<br />
(Residing in Vancouver, BC)<br />
Lisa Maureen MINGO<br />
Member 1993<br />
(Residing in West Vancouver, BC)<br />
Arthur James OAKES<br />
Member 1961<br />
(Residing in Winnipeg)<br />
Saqib Bashir RAJPUT<br />
Member 2008<br />
(Residing in Toronto, ON)<br />
John Delbert RICHARDSON<br />
Member 1974<br />
(Residing in Victoria, BC)<br />
Kelly Dawn ROSENTRETER<br />
Member 2005<br />
(Residing in Calgary, AB)<br />
Michelle Dawn SURMINSKY<br />
Member 2003<br />
(Residing in Winnipeg)<br />
Pamela D. TRETIAK<br />
Member 2005<br />
(Residing in Calgary, AB)<br />
Jay Ashley WALKER<br />
Member 2008<br />
(Residing in Saskatoon, SK)<br />
Rory Blair YERAMA<br />
Member 2004<br />
(Residing in Edmonton, AB)<br />
Christopher John YOUNG<br />
Member 2007<br />
(Residing in Toronto, ON)<br />
Harvey Hilton ZIMMERMAN<br />
Member 1965<br />
(Residing in Winnipeg)<br />
Firm Changes<br />
<strong>The</strong> application for incorporation <strong>of</strong><br />
pr<strong>of</strong>essional practice was accepted for K. Dean<br />
Austin, <strong>Chartered</strong> Accountant Inc.<br />
FOLIO 11
Telephone Numbers & Email Addresses for <strong>Institute</strong> Staff<br />
Gary Hannaford FCA<br />
Chief Executive Officer<br />
ghannaford@icam.mb.ca Direct Line: 924.4410<br />
Kathy Zaplitny CA<br />
Practice Advisor & Director <strong>of</strong> Members’ Services<br />
kzaplitny@icam.mb.ca Direct Line: 924.4411<br />
Shirley Sommer CA<br />
Registrar & Director <strong>of</strong> Standards Enforcement<br />
ssommer@icam.mb.ca Direct Line: 924.4414<br />
Dianne Laidler CMA<br />
Director <strong>of</strong> Administration<br />
dlaidler@icam.mb.ca Direct Line: 924.4412<br />
Tanya Beck<br />
Manager <strong>of</strong> Communications<br />
tbeck@icam.mb.ca Direct Line: 924.4416<br />
FOLIO 12<br />
Jody Bibeau<br />
Receptionist/Clerk<br />
jbibeau@icam.mb.ca Direct Line: 942.8248<br />
Michelle Chartrand<br />
Executive Assistant<br />
mchartrand@icam.mb.ca Direct Line: 924.4418<br />
Darlene Kochanski<br />
Communications Assistant<br />
dkochanski@icam.mb.ca Direct Line: 924.4415<br />
Marie Kostiuk<br />
PD Coordinator<br />
mkostiuk@icam.mb.ca Direct Line: 924.4413<br />
Kimberly Leung<br />
Assistant Registrar & Accounting Assistant<br />
kleung@icam.mb.ca Direct Line: 924.4417<br />
AcSB Chair<br />
Appointment<br />
Former Manitoban,<br />
Tricia O’Malley,<br />
FCA, has been<br />
appointed Chair<br />
<strong>of</strong> the Accounting<br />
Standards Board<br />
(AcSB) to succeed<br />
Paul Cherry in mid-<br />
June.<br />
“I am delighted<br />
with Tricia’s<br />
appointment at<br />
Tricia O’Malley, FCA<br />
AcSB Chair<br />
this momentous time for financial reporting<br />
in Canada”, said Doug Hyndman, Chair,<br />
Accounting Standards Oversight Council.<br />
“No one in Canada has a better knowledge<br />
<strong>of</strong>, or experience <strong>of</strong> working with and<br />
interpreting, IFRS than Tricia O’Malley,” he<br />
added.<br />
Tricia is currently the Director <strong>of</strong><br />
Implementation Activities at the International<br />
Accounting Standards Board (IASB) with<br />
responsibility for supporting the International<br />
Financial Reporting Interpretations<br />
Committee’s development <strong>of</strong> <strong>of</strong>ficial<br />
interpretations <strong>of</strong> International Financial<br />
Reporting Standards (IFRS).<br />
She is also responsible for the Annual<br />
Improvements project and the standard<br />
covering first-time adoption <strong>of</strong> IFRS. Previously,<br />
Tricia was a founding member <strong>of</strong> the IASB and<br />
served on that Board from April 1, 2001 to June<br />
2007.<br />
Tricia was also the first full-time Chair <strong>of</strong><br />
the AcSB in Canada from 1999 to 2001, when<br />
under her leadership, the AcSB approved the<br />
issue <strong>of</strong> differential reporting standards for nonpublicly<br />
accountable enterprises.<br />
Paul Cherry, whose term was due to expire<br />
on March 31, has agreed to continue as Chair<br />
<strong>of</strong> the AcSB until Tricia’s term begins.<br />
Folio published by:<br />
<strong>The</strong> <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong> Manitoba<br />
500-161 Portage Ave. East, Winnipeg, MB R3B 0Y4<br />
Tel: 204 942.8248 Fax: 204 943.7119<br />
Toll Free in MB: 1 888 942.8248<br />
icam@icam.mb.ca www.icam.mb.ca