Doug Tkach Elected President - The Institute of Chartered ...
Doug Tkach Elected President - The Institute of Chartered ...
Doug Tkach Elected President - The Institute of Chartered ...
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>Doug</strong> <strong>Tkach</strong> <strong>Elected</strong> <strong>President</strong><br />
<strong>Doug</strong> <strong>Tkach</strong> was elected <strong>President</strong><br />
and Chair <strong>of</strong> the Council <strong>of</strong> <strong>The</strong><br />
<strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong><br />
Manitoba for 2010-11 at the Council meeting<br />
held immediately after the <strong>Institute</strong>’s Annual<br />
General Meeting on June 17th.<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. <strong>The</strong> national cooperation and collaboration<br />
between the provincial institutes and<br />
the CICA in support <strong>of</strong> the pr<strong>of</strong>ession’s vision<br />
and mission continue to grow as our nationally<br />
developed strategic plan continues to unfold,”<br />
<strong>Tkach</strong> said.<br />
A particular priority that Council has<br />
identified is to attract exceptional people to the<br />
pr<strong>of</strong>ession. <strong>The</strong> national Pr<strong>of</strong>essional Learning<br />
Committee will be considering the findings <strong>of</strong><br />
the Growth Strategy Task Force and developing<br />
specific recommendations that will allow several<br />
<strong>of</strong> the initiatives to be implemented.<br />
“In the meantime, we continue to encourage<br />
more employers outside <strong>of</strong> the traditional audit<br />
and assurance area to obtain approval to train<br />
CA students. We look forward to working with<br />
Kim Metcalfe, recently hired as the <strong>Institute</strong>’s<br />
new Director <strong>of</strong> Student Recruitment, who will<br />
assist in identifying potential new Expanded<br />
Experience Opportunity CA Training Offices,”<br />
<strong>Tkach</strong> said.<br />
“We will also continue to focus on the need<br />
to implement a public accounting licensing<br />
system in Manitoba – a public accounting<br />
system that is consistent with international<br />
standards required in other major countries<br />
around world. This is essential if we hope to<br />
maintain reciprocity for our members in public<br />
accounting. We will keep you up-to-date with<br />
developments in this area,” he added.<br />
<strong>Doug</strong> began his accounting career as a<br />
summer student with Scarrow & Donald,<br />
<strong>Chartered</strong> Accountants in 1989. He received his<br />
CA designation in 1993 and shortly afterward<br />
left public accounting to become CFO <strong>of</strong> the<br />
Burrows Lumber group <strong>of</strong> companies.<br />
In 2001 he joined <strong>The</strong> Great-West Life<br />
Assurance Company and is currently Vice-<br />
<strong>President</strong>, Financial Reporting.<br />
Foundation Supports U <strong>of</strong> W<br />
<strong>The</strong> Foundation announced that it will provide $300,000 over the next 10 years to the University <strong>of</strong> Winnipeg’s<br />
Faculty <strong>of</strong> Business and Economics on June 21, 2010. Above (l-r): Michael Benarroch, Dean <strong>of</strong> the<br />
Faculty; Ken Phernambucq, CA, Chair <strong>of</strong> the Foundation; Gary Hannaford, FCA, CEO <strong>of</strong> the <strong>Institute</strong>; Dr.<br />
Lloyd Axworthy, <strong>President</strong> <strong>of</strong> the U <strong>of</strong> W; Susan Thompson, <strong>President</strong> & CEO <strong>of</strong> the U <strong>of</strong> W Foundation.<br />
Issue #165<br />
June / July 2010<br />
<strong>Doug</strong> <strong>Tkach</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>Doug</strong> was awarded the <strong>Institute</strong>’s Early<br />
Achievement Award in 2002, and earned the<br />
<strong>Chartered</strong> Financial Analyst designation in<br />
2005.<br />
<strong>Doug</strong> was first elected to Council in 2002.<br />
He served as Secretary-Treasurer from 2007 to<br />
2008. In 2008-09 he was appointed Second<br />
Vice-<strong>President</strong> and he served as First Vice-<br />
<strong>President</strong> this past year.<br />
He has also served on the <strong>Institute</strong>’s<br />
Corporate Governance and Nominating and<br />
Membership Linkages committees, the CA<br />
Foundation Board <strong>of</strong> Directors, as well as the<br />
<strong>Institute</strong>’s Audit, Pr<strong>of</strong>essional Conduct and<br />
Pr<strong>of</strong>essional Development committees. <strong>Doug</strong><br />
was Chair <strong>of</strong> the Audit committee in 2003-04<br />
and Membership Linkages in 2008-09.<br />
Active in community affairs, <strong>Doug</strong> is<br />
currently Treasurer <strong>of</strong> <strong>The</strong> Firing Line Gun<br />
Club, a position he has held since 2000. He<br />
has served as both Treasurer and Chair <strong>of</strong> Faith<br />
Lutheran Church, and as Treasurer for Faith<br />
Foundation Inc. and Faith Lutheran Personal<br />
Care Home Inc.<br />
“I am honoured to serve as your president,”<br />
<strong>Tkach</strong> said. “I will endeavor to represent all <strong>of</strong><br />
you to the best <strong>of</strong> my abilities in the coming<br />
year. I hope you will feel free to contact me at<br />
any time if you have any questions, comments,<br />
or advice.”<br />
FOLIO 1
Impact <strong>of</strong> IRS Tax Preparer Registration<br />
Rules on Canadian CAs by Jennifer S. Horner<br />
<strong>The</strong> Internal Revenue Service is proceeding<br />
with proposals to require any person who<br />
prepares a US tax return for compensation to be<br />
registered with the IRS, and to obtain a unique<br />
registration number. As part <strong>of</strong> this process, all<br />
such preparers (“paid preparers”, also referred to<br />
as preparers in this article), will need to meet a<br />
minimum standards test in order to continue to<br />
be registered as a preparer.<br />
<strong>The</strong>se changes come in response to a<br />
perceived need to increase public confidence<br />
in paid preparers and to increase taxpayer<br />
compliance. Some US states, such as New<br />
York, California and Oregon have already<br />
implemented their own systems for paid<br />
preparer registration.<br />
This article will discuss changes applicable to<br />
the preparation <strong>of</strong> US federal tax returns only.<br />
Based on information released so far, preparers<br />
living outside <strong>of</strong> the United States will also<br />
be subject to this new system <strong>of</strong> registration<br />
and testing. <strong>The</strong> purpose <strong>of</strong> this article is to<br />
highlight the new requirements and to discuss<br />
the particular impact on CAs in Canada who<br />
prepare US tax returns for a fee.<br />
Some key items <strong>of</strong> these proposals are as<br />
follows:<br />
• Specific instructions for foreign preparers<br />
(i.e. those preparers living outside <strong>of</strong> the<br />
United States) have not been released, and<br />
are currently in development by the IRS.<br />
<strong>The</strong>re is no indication that foreign preparers<br />
will be exempt from these new requirements.<br />
• <strong>The</strong> focus <strong>of</strong> this IRS initiative appears to be<br />
paid preparers <strong>of</strong> US personal tax returns,<br />
but the rules do not appear to exclude those<br />
individuals paid to prepare other types <strong>of</strong><br />
US returns, such as corporate, trust and<br />
estate returns. It is unclear whether the new<br />
requirements will apply only to the preparer<br />
who signs the return or to all the preparers<br />
who were significantly involved in preparing<br />
the return.<br />
• All US returns filed after December 31,<br />
2010 will require a Preparer Tax<br />
Identification Number, or PTIN. This<br />
requirement is a bit problematic for foreign<br />
preparers as only individuals with a US<br />
Social Security Number can currently obtain<br />
FOLIO 2<br />
a PTIN.<br />
• Registration <strong>of</strong> preparers is due to start in<br />
September 2010. Practitioners who currently<br />
have a PTIN will also be required to register<br />
(although they will be allowed to keep their<br />
current number).<br />
• Tax return preparers will need to meet<br />
a minimum standards test to qualify to<br />
continue to be registered as a preparer. Only<br />
US attorneys, certified public accountants<br />
(CPAs) and enrolled agents who are active<br />
and in good standing with their respective<br />
licensing agencies will be exempt from the<br />
testing. Testing will not be implemented<br />
until after registration and mandatory PTIN<br />
usage are in place.<br />
• Tax return preparers will be required to meet<br />
a continuing pr<strong>of</strong>essional education standard<br />
<strong>of</strong> 15 hours per year with the exception <strong>of</strong><br />
attorneys, CPAs and enrolled agents.<br />
• <strong>The</strong> IRS will conduct periodic tax<br />
compliance checks on all tax return<br />
preparers, and expect all preparers to meet<br />
high ethical standards.<br />
• Registration will require the payment <strong>of</strong><br />
a fee. <strong>The</strong> amount <strong>of</strong> the fee has not been<br />
announced, but the IRS estimates such fee<br />
to be in the range <strong>of</strong> $25-100 annually per<br />
individual (or $75-300 for the three year<br />
renewal period <strong>of</strong> a PTIN).<br />
• Paid tax preparers will be required to register<br />
as individuals, even those employed by an<br />
enterprise in the business <strong>of</strong> preparing tax<br />
returns. Note that individuals who only<br />
prepare returns for their employer will not<br />
be affected by these requirements.<br />
As a consequence <strong>of</strong> these proposals, it<br />
is expected that Canadian CAs who will be<br />
preparing US returns for their clients, where<br />
such returns are filed after December 31, 2010,<br />
will be required to register with the IRS as tax<br />
preparers, and will also be required to meet the<br />
testing and continuing education requirements<br />
outlined above. Those CAs who are also CPAs<br />
and who are in good standing with a State<br />
licensing board should be exempt from the<br />
testing and continuing education requirements<br />
as long as they maintain their CPA license in<br />
good standing.<br />
<strong>The</strong> complimentary ROI e-newsletter is a valuable source <strong>of</strong> timely synopses <strong>of</strong> news,<br />
research, events, best practices, standards and regulations, recent publications and<br />
more – with links to the web-based sources – that can help you keep up-to-date with<br />
information relevant to CAs in industry.<br />
<strong>The</strong>se plans have been put forward in<br />
proposed legislation, and are subject to<br />
the implementation <strong>of</strong> such legislation.<br />
Consequently specific application <strong>of</strong> these rules,<br />
the date <strong>of</strong> implementation <strong>of</strong> the registry <strong>of</strong><br />
preparers, and date after which returns filed will<br />
require a PTIN are subject to change.<br />
Canadian CAs who prepare US tax returns<br />
should be aware <strong>of</strong> these imminent changes,<br />
and watch for further clarification from the IRS<br />
regarding the registration process for preparers<br />
living outside the US.<br />
Jennifer Horner is a Senior Tax Manager with<br />
BDO Canada LLP.<br />
Candidate<br />
Portal<br />
Improves CASB<br />
Results Release<br />
In May 2010, CASB announced a new<br />
method for delivering results to students<br />
and their training <strong>of</strong>fices. Beginning<br />
with the results released in July 2010,<br />
detailed student results are available<br />
online through Candidate Portal for<br />
students and CATO Portal for CA<br />
Training Offices (CATOs).<br />
Until now, students and their firms had<br />
to wait weeks for case feedback forms,<br />
transcripts, and academic histories to<br />
arrive in the mail. Through the Portal,<br />
students can view their case feedback<br />
forms at the same time as they learn <strong>of</strong><br />
their status in the module, and they can<br />
download their transcripts and academic<br />
histories one week later.<br />
This change marks a significant service<br />
delivery improvement from CASB as<br />
students can use the case feedback forms<br />
to debrief the module evaluation earlier<br />
than before. It also considerably reduces<br />
CASB’s carbon footprint, as two copies<br />
(one for the student, one for their firm)<br />
<strong>of</strong> the five-to-seven-page result packages<br />
for 4,000 students are no longer printed<br />
and posted from the Learning Centre in<br />
Vancouver.
Council and Officers <strong>Elected</strong> for 2010-11<br />
At the 124 th Annual General Meeting <strong>of</strong><br />
<strong>The</strong> <strong>Institute</strong> held on June 17, 2010, five<br />
members were elected to serve on Council<br />
for a two year term.<br />
<strong>The</strong> five members elected were Jeffrey<br />
Cristall, Gordon Dowhan, Stuart<br />
McKelvie, Teresa Okerlund and <strong>Doug</strong>las<br />
<strong>Tkach</strong>.<br />
At the Statutory Meeting <strong>of</strong> Council<br />
following the AGM, Council elected<br />
the 2010-11 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 />
2010-11 Officers <strong>of</strong> Council<br />
<strong>Doug</strong>las J. <strong>Tkach</strong>, CA, CFA, <strong>President</strong> & Chair<br />
James D. Doer, CA, First Vice-<strong>President</strong><br />
Rick M. MacKay, FCA, Second Vice-<strong>President</strong><br />
Teresa L. Okerlund, CA, Secretary-Treasurer<br />
CAS Support<br />
Tool Increases<br />
Efficiency<br />
Use CICA’s CAS Support Tool to<br />
identify the Canadian Auditing<br />
Standards relevant for each phase <strong>of</strong><br />
the audit process and see how the<br />
new standards compare to existing<br />
auditing standards set out in the CICA<br />
Handbook - Assurance. This interactive<br />
tool identifies the standards that are<br />
relevant for each phase <strong>of</strong> the audit<br />
process, provides links to comparative<br />
information in the existing standards,<br />
and points to learning resources.<br />
Go to www.cica.ca > Canadian<br />
Standards in Transition > Canadian<br />
Auditing Standards > CAS Support<br />
Tool.<br />
<strong>Doug</strong> <strong>Tkach</strong>, CA, CFA<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 />
Gordon A. Dowhan, CA<br />
Larry H. Frostiak, FCA<br />
Dave Loewen, CA<br />
C. Stuart McKelvie, FCA<br />
Brenna J. Minish-Kichuk, CA<br />
Richard D. Pope, FCA<br />
Kevin E. Regan, CA<br />
Heather D. Reichert, CA<br />
Left: Margaret Redmond, <strong>President</strong><br />
and CEO <strong>of</strong> the Assiniboine Park<br />
Conservancy was the keynote speaker<br />
at the luncheon held following the<br />
Annual General Meeting.<br />
James Doer, CA<br />
First Vice-<strong>President</strong><br />
Right: Incoming <strong>President</strong> <strong>Doug</strong> <strong>Tkach</strong>,<br />
CA (left) and outgoing <strong>President</strong> Ian<br />
Seymour, CA (right) thank Dr. Jerry<br />
Gray for his service on Council as a<br />
public representative at the Annual<br />
General Meeting <strong>of</strong> the <strong>Institute</strong>.<br />
Rick MacKay, FCA<br />
Second Vice-<strong>President</strong><br />
Public Representatives<br />
Elaine Goldie<br />
Anita Wortzman, LLB<br />
Teresa Okerlund, CA<br />
Secretary-Treasurer<br />
Elaine Goldie Appointed as<br />
Public Rep to Council<br />
<strong>Doug</strong> <strong>Tkach</strong>, <strong>President</strong> <strong>of</strong> <strong>The</strong> <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants<br />
<strong>of</strong> Manitoba, is pleased to announce that Elaine Goldie was recently<br />
appointed to Council for a two year term. Elaine joins Anita<br />
Wortzman, LLB as a public representative serving on Council.<br />
As required under the provisions <strong>of</strong> <strong>The</strong> <strong>Chartered</strong> Accountants<br />
Act, CCSM C70, Elaine’s appointment was made by Dr. David<br />
Barnard, <strong>President</strong> <strong>of</strong> the University <strong>of</strong> Manitoba. She replaces Dr.<br />
Jerry Gray, who served as a public representative on Council from<br />
2004-10.<br />
Elaine was Vice-<strong>President</strong> (External) with the University <strong>of</strong><br />
Manitoba. She <strong>of</strong>ficially retired from the position earlier this year.<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 Anita’s second year serving as<br />
a public representative and Elaine’s first.<br />
Elaine Goldie<br />
Public Representative<br />
FOLIO 3
CRA Working Paper Policy Statement<br />
A long-awaited CRA policy statement dated<br />
May 31, 2010 – “Acquiring Information from<br />
Taxpayers, Registrants and Third Parties” – was<br />
first issued to CRA staff and is now on the<br />
CRA web site. <strong>The</strong> policy statement sets out<br />
the CRA’s current policy approach to acquiring,<br />
inter alia, auditors’ and accountants’ working<br />
papers.<br />
An annex more fully describes the CRA’s<br />
basket <strong>of</strong> compliance tools found in the<br />
Income Tax Act, the Excise Tax Act, and other<br />
legislation. <strong>The</strong> policy statement is required<br />
reading for anyone involved in the audit or<br />
review <strong>of</strong> financial statements or in the tax<br />
return process.<br />
In response to a CRA round table question<br />
at the Foundation’s 2004 annual conference,<br />
the CRA first announced its planned review<br />
<strong>of</strong> its existing policy. <strong>The</strong> CRA also said that<br />
it recognized the importance <strong>of</strong> its policy<br />
regarding access to auditors’ and accountants’<br />
working papers, and thus before issuing a new<br />
policy it intended to conduct broad-based<br />
consultation in partnership with the tax,<br />
accounting, and business communities.<br />
Since then, the CICA and the CRA have<br />
had extensive and ongoing discussions on the<br />
issue, which is extremely important for both<br />
taxpayers and Canada’s chartered accountants in<br />
industry and pr<strong>of</strong>essional practice. <strong>The</strong> CICA<br />
also obtained the views <strong>of</strong> its members through<br />
a survey it commissioned.<br />
Auditors’ and accountants’ working papers<br />
are critical to the integrity <strong>of</strong> the financial<br />
statement, audit/review, and corporate<br />
governance processes as a whole. If the CRA<br />
regularly sought access to auditors’ and<br />
accountants’ working papers, such a policy<br />
change could undermine the preparation<br />
<strong>of</strong> documents required to support financial<br />
reporting and inhibit the essential frank<br />
and open discussions between an auditor/<br />
accountant, the audit committee, and<br />
management.<br />
Following are some key elements <strong>of</strong> the CRA<br />
FOLIO 4<br />
policy set out in the policy statement.<br />
1) From CICA-CRA discussions, CICA<br />
<strong>of</strong>ficials understand that the CRA does not<br />
view the policy statement as reflective <strong>of</strong> a<br />
significant policy change, but rather as an<br />
affirmation <strong>of</strong> its longstanding policy and a<br />
framework for compiling and discussing in<br />
one document all legislative and compliance<br />
tools available to it.<br />
2) Not surprisingly, the CRA states that with<br />
the exception <strong>of</strong> privileged communications,<br />
it has the authority to examine not<br />
only the records and documents <strong>of</strong> the<br />
subject person under review, but also any<br />
other person’s records and documents<br />
that may relate to the subject person’s tax<br />
liability. (See, for example, subsection<br />
231.1(1) <strong>of</strong> the Income Tax Act.)<br />
3) <strong>The</strong> policy statement includes several<br />
extremely important overrides to point 2.<br />
a) Tax compliance disputes should be<br />
resolved primarily between the CRA<br />
and any specific taxpayer, and thus the<br />
CRA always tries to collect information<br />
from the most direct source and in the<br />
least intrusive manner possible.<br />
b) Information from third parties is sought<br />
when the taxpayer cannot or will not<br />
provide information.<br />
c) Access to tax accrual working papers<br />
and auditors’ or accountants’ working<br />
papers may be required occasionally, but<br />
not routinely.<br />
d) <strong>The</strong> CRA believes that a more effective<br />
and efficient relationship with taxpayers<br />
and their advisers can be achieved by<br />
grounding its actions on an understanding<br />
<strong>of</strong> the taxpayer’s business and by<br />
applying the key principles <strong>of</strong> transparency,<br />
impartiality, proportionality, and<br />
responsiveness.<br />
Until all other avenues to obtain the relevant<br />
information have been exhausted, taxpayers<br />
should not expect to routinely see requests for<br />
tax accrual working papers, and auditors and<br />
by Kevin Dancey, FCA<br />
Acquiring Information from Taxpayers, Registrants and Third Parties - required reading<br />
for anyone involved in the audit or review <strong>of</strong> financial statements or in the tax return<br />
process<br />
Distributed quarterly, this complimentary e-newsletter is a valuable<br />
source <strong>of</strong> timely synopses <strong>of</strong> information about trends and views,<br />
standards and regulations, client development, technology, marketing<br />
your services, pr<strong>of</strong>essional resources, events and other information<br />
relevant to CAs in public practice – with links to the web-based sources.<br />
third-party accountants should not expect to<br />
routinely receive requests for their working<br />
papers. In particular the approach outlined in<br />
the policy statement suggests that requests for<br />
information from third parties should not occur<br />
at the commencement <strong>of</strong> a CRA audit.<br />
<strong>The</strong> CICA urged the CRA to clearly state<br />
that, in order for the CRA to maintain its<br />
objectivity and impartiality, it would restrict<br />
its requests to factual information and not<br />
routinely seek access to subjective analyses<br />
(including opinions) prepared by taxpayers<br />
or third parties. Unfortunately, the policy<br />
statement instead only declares that “[o]fficials<br />
will not be influenced by any subjective<br />
analyses, comments or opinions contained in<br />
the information or documentation reviewed.”<br />
Other countries have developed policies for<br />
access to working papers. For example, in the<br />
United States the IRS has stated that it will<br />
not request a taxpayer’s tax accrual working<br />
papers unless the taxpayer has engaged in a<br />
listed transaction. In Australia, only in defined<br />
exceptional circumstances is it Australian Tax<br />
Office policy to request working papers and<br />
subjective analyses from a taxpayer or an adviser.<br />
In Canada, the CRA, taxpayers, and tax<br />
pr<strong>of</strong>essionals have little experience with the<br />
interpretation <strong>of</strong> the phrase “not routinely<br />
required” as it is used in the policy statement;<br />
moreover, it is clear that a policy built on that<br />
phrase is much less precise than the bright-line<br />
tests used by the Australian Tax Office and the<br />
IRS.<br />
<strong>The</strong> Audit Pr<strong>of</strong>essional Services Directorate<br />
<strong>of</strong> the CRA’s Compliance Services Branch is<br />
responsible for monitoring nationally consistent<br />
compliance with the policy and for the<br />
development <strong>of</strong> further guidance. <strong>The</strong> policy<br />
statement encourages taxpayers and their representatives<br />
to discuss with the CRA any material<br />
differences <strong>of</strong> opinion between them and the<br />
CRA regarding the policy’s application. <strong>The</strong><br />
CICA will track its members’ input to closely<br />
monitor the policy’s application in the field.<br />
<strong>The</strong> CRA has agreed to periodically review and<br />
discuss the policy’s application with interested<br />
parties, including the CICA.<br />
Kevin Dancey, FCA, is <strong>President</strong> and CEO <strong>of</strong> the<br />
CICA. This article was published in the June issue<br />
<strong>of</strong> Canadian Tax Highlights.
Foundation Receives Largest<br />
Gift in its History<br />
Ken Phernambucq, CA, Chair <strong>of</strong> the Board<br />
<strong>of</strong> the Manitoba <strong>Chartered</strong> Accountants<br />
Foundation, is pleased to announce the<br />
receipt <strong>of</strong> the largest gift in the history <strong>of</strong> the<br />
Foundation.<br />
Allan Johnson passed away in November<br />
2009 and left a bequest to the Foundation in<br />
the amount <strong>of</strong> approximately $700,000.<br />
In his will, Allan indicated his intention<br />
“that the Manitoba <strong>Chartered</strong> Accountants<br />
Foundation use the proceeds <strong>of</strong> this bequest in<br />
a way that would perpetuate the name <strong>of</strong> my<br />
father, Frederick Johnson, as a memorial to his<br />
great interest in the education <strong>of</strong> students in<br />
accounting, and to his long association with<br />
the <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong><br />
Manitoba”.<br />
Frederick Johnson was a CA and pr<strong>of</strong>essor<br />
at the University <strong>of</strong> Manitoba. He had a keen<br />
interest in the education <strong>of</strong> CAs and was<br />
involved with the establishment <strong>of</strong> the UFE<br />
as a national exam for CA students. Frederick<br />
served on the <strong>Institute</strong>’s Council for 18 years<br />
and was <strong>President</strong> <strong>of</strong> the Manitoba <strong>Institute</strong><br />
from 1940-42 and <strong>President</strong> <strong>of</strong> the Dominion<br />
Association <strong>of</strong> <strong>Chartered</strong> Accountants (now the<br />
CICA) in 1944-45. He was elected an FCA in<br />
1947.<br />
<strong>The</strong> Board <strong>of</strong> the Foundation is in the process<br />
<strong>of</strong> determining the use <strong>of</strong> the funds as well as<br />
appropriate recognition for this generous gift.<br />
Established in 1980, the Foundation’s<br />
mission is to enhance the quality <strong>of</strong> accounting<br />
education in Manitoba. <strong>The</strong> vision <strong>of</strong> the<br />
Foundation is that CA education in Manitoba<br />
will be seen to be the best in Canada, attracting<br />
a growing number <strong>of</strong> quality future chartered<br />
accountants.<br />
For more information or to make a donation<br />
to the Foundation, please contact Kim Metcalfe,<br />
CA, Executive Director, at 924-4419 or<br />
kmetcalfe@icam.mb.ca.<br />
Members considering leaving a gift to the<br />
Foundation in their will should consider<br />
consulting with the Foundation to ensure that the<br />
wording <strong>of</strong> the bequest allows the funds to be used<br />
by the Foundation and as the member wishes.<br />
Annual S<strong>of</strong>tball Tournament<br />
Twelve teams were fielded in this year’s annual s<strong>of</strong>tball tournament.<br />
BDO defeated the Exchange Income Corporation 17-9 to win the<br />
A-side final and the Ernst & Young Trophy.<br />
Deloitte defeated KPMG in the B-side final. Thanks to all participants<br />
who came out to enjoy the day.<br />
B-side winners, the Deloitte Tigers.<br />
Risk<br />
Oversight and<br />
Governance<br />
Collection<br />
Part <strong>of</strong> an ongoing series <strong>of</strong> boardroom<br />
briefings, the Risk Oversight and<br />
Governance Collection provides a clear,<br />
concise overview <strong>of</strong> relevant governance<br />
issues. This comprehensive collection is<br />
designed to help board members to ask<br />
the tough questions, recognize signs <strong>of</strong><br />
success and signs <strong>of</strong> imminent problems,<br />
and reflect and learn for the future.<br />
Choose just the print titles you need, or<br />
subscribe to receive the entire collection,<br />
including:<br />
• <strong>The</strong> 20 Questions Series<br />
• <strong>The</strong> CFO Series<br />
• <strong>The</strong> Not-for-Pr<strong>of</strong>it Series<br />
• Director Briefings<br />
For more information or to order, visit:<br />
CAstore.ca/rogc-PICA<br />
<strong>The</strong> team from BDO, winners <strong>of</strong> the Ernst & Young Trophy.<br />
FOLIO 5
FOLIO 6<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 approves the fee<br />
for the 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 2010-11.<br />
In considering the appointment <strong>of</strong><br />
auditors, the committee evaluates the<br />
current auditors and has found that they<br />
continue to meet 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.<br />
Richard D. Pope, FCA<br />
Chair<br />
2009-10 Audit Committee<br />
High School Scholarships<br />
Awarded<br />
Students from 200 high schools across the province applied and six individuals were selected to each<br />
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 are all continuing their post-secondary<br />
education in Manitoba and have expressed interest in the CA pr<strong>of</strong>ession.<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 Sheree Carmona-<br />
Galdamez, Bryn Peppler, Chelsea Scrivener and Janessa Walger are the recipients <strong>of</strong> the 2010 High<br />
School Scholarships and wishes them every success in their future endeavours.<br />
Sheree Carmona-Galdamez Bryn Peppler Chelsea Scrivener Janessa Walger<br />
Allan M. Moore, FCA Scholarships<br />
<strong>The</strong> Manitoba <strong>Chartered</strong> Accountants Foundation Inc. congratulates Bryton Balzer and Corrine<br />
Klekta, recipients <strong>of</strong> the 2010 Allan. M. Moore, FCA Scholarships and wishes them every success in<br />
their future endeavours.<br />
Bryton Balzer Corrine Klekta<br />
Al Moore was <strong>President</strong> <strong>of</strong> the <strong>Institute</strong> in 1974-75 and served<br />
on the Board <strong>of</strong> the Foundation in the early 1990s. He received<br />
the Lifetime Achievement Award from the <strong>Institute</strong> in 2004.<br />
Upon his passing, Al left a $50,000 bequest to the Foundation<br />
and an endowment fund was established in his name with the<br />
income used to provide scholarships to high school students<br />
attending university and interested in a career as a CA.<br />
Allan M. Moore, FCA
2010 Golf Tournament<br />
Breezy Bend Country Club was host to the annual<br />
members’ golf tournament as 48 golfers hit the links.<br />
Special thanks to all our sponsors for helping make this a<br />
successful event.<br />
Member participation was the lowest it has been in<br />
recent years. <strong>The</strong> Members’ Activities Committee will<br />
be conducting a survey about member events in the<br />
fall – watch Folio and your email inbox for details.<br />
CICA’s Guide to New Canadian<br />
Auditing Standards<br />
in Canada<br />
Free download available<br />
This useful guide highlights areas <strong>of</strong> similarity and<br />
difference between new CAS and existing Canadian<br />
auditing standards. Visit http://www.cica.ca/cas/<br />
item2475.pdf for the free download.<br />
Printed copies <strong>of</strong> the Guide are also available from the<br />
<strong>Institute</strong>. Call (204) 942-8248 or email<br />
icam@icam.mb.ca.<br />
Winners <strong>of</strong> the KPMG Trophy for the Low Gross Team (l-r) Mark Gray, Ken MacKenzie,<br />
Bryan Albo, and Barry Minish.<br />
Left: Winners (tied) <strong>of</strong> the J. Mundie<br />
Trophy for Low Gross Male were Trevar<br />
Matheson & Colin MacLean.<br />
Left: Winners <strong>of</strong> the Happy<br />
Gilmore Trophy for Low Net<br />
Team (l-r): Jamie Kraemer,<br />
Bob Hamilton, Oren<br />
Gilmore (presenter), Blair<br />
Riordan, Garry Markham.<br />
<strong>The</strong> Deloitte & Touche Trophy for Low Gross<br />
Female was won by Susan Nemec.<br />
Thank you<br />
sponsors!<br />
CA Insurance Plans West<br />
CXA Recruiting<br />
Ernst & Young LLP<br />
Meyers Norris Penny LLP<br />
MTS Allstream<br />
PricewaterhouseCoopers LLP<br />
TDG Furniture<br />
TFI Financial Services<br />
Western Financial Group Insurance<br />
Solutions<br />
Western Financial Insurance Company<br />
FOLIO 7
Participate in the Upcoming Managing a<br />
Public Practice Surveys<br />
Computerization<br />
Did you know that according to our 2008 Managing a Public Practice<br />
(MAPP) survey on Computerization:<br />
• A majority <strong>of</strong> firms with six or more Full Time Equivalents (FTEs)<br />
have a website, including 100% <strong>of</strong> firms with over 35 FTEs.<br />
Approximately one in five firms with one or two FTEs have a website.<br />
• Respondents spent an average <strong>of</strong> $45,000 on technology in the last<br />
fiscal year, an increase from $40,000 from the 2006 MAPP survey.<br />
This represents 3.5 percent <strong>of</strong> total revenue, a slight decline from 3.8<br />
percent from the 2006 survey.<br />
• Most firms are sending information electronically. However,<br />
depending on the type <strong>of</strong> information being sent on average only<br />
between two in ten and three in ten respondents report protecting<br />
the information they send. Passwords are the most commonly used<br />
methods for safeguarding information.<br />
• 64 percent <strong>of</strong> the <strong>of</strong> the respondents use Remote Access s<strong>of</strong>tware –<br />
Windows Remote Desktop remains the favorite among this type <strong>of</strong><br />
s<strong>of</strong>tware user.<br />
• 35 percent <strong>of</strong> the <strong>of</strong> respondents use Paperless Office s<strong>of</strong>tware and<br />
Adobe Acrobat continues to be most frequently cited.<br />
• Dell continues to be the most frequently purchased computer brand<br />
by respondent firms.<br />
Will these trends continue or will there be significant changes? <strong>The</strong>re<br />
is only one way to find out! Take part in the upcoming MAPP survey on<br />
Computerization.<br />
Thank you!<br />
In recognition <strong>of</strong> years <strong>of</strong><br />
dedicated service<br />
Thanks to Darlene Kochanski (left) and Marie Kostiuk (right) for their years<br />
<strong>of</strong> dedicated service at the <strong>Institute</strong>. Darlene celebrated her 35th year at ICAM<br />
and Marie her 25th consecutive year. Congratulations!<br />
FOLIO 8<br />
Practice Management<br />
Did you know that according to our 2008 Managing a Public Practice<br />
(MAPP) survey on Practice Management:<br />
• <strong>The</strong>re has been a trend since 2006 to move from assurance<br />
engagements to non-assurance engagements. This movement is most<br />
significant for firms with five full-time equivalents or less.<br />
• Operating expenses on average were 56 per cent <strong>of</strong> gross revenues, the<br />
same as in 2006.<br />
• Slightly over one-half <strong>of</strong> respondents (54 per cent) report requesting<br />
retainers from new clients, compared to three-in-ten (28 per cent)<br />
from existing clients. Approximately two-thirds <strong>of</strong> respondents used<br />
progress billing for both new and existing clients.<br />
• 75 per cent <strong>of</strong> respondents had a net pr<strong>of</strong>it margin percentage<br />
(pre-partner distributions) <strong>of</strong> 33 per cent or better, the same as in<br />
2006.<br />
Will these trends continue or will there be significant changes? To find<br />
out, participate in the MAPP Survey: Practice Management by July 29,<br />
2010.<br />
Beyond the Perimeter Conference<br />
…for practitioners serving small and mid-size Manitoba<br />
businesses.<br />
September 13 & 14, 2010<br />
Elkhorn Resort, Clear Lake, MB<br />
Beyond the Perimeter Conference generously sponsored by<br />
CA Insurance Plans West<br />
Coverage that counts.
2010-2011 Fall / Winter PD Program<br />
Accounting, Financial Reporting and<br />
Assurance<br />
Accounting Standards for Private Enterprises<br />
- A comparison to Canadian GAAP<br />
Auditing in the New CAS Environment<br />
Breaking Open Your New CAS Handbook<br />
Business Combinations for Private and Public<br />
Enterprises<br />
Fraud Happens! What to do When You<br />
Suspect Fraud<br />
IFRS – An Update<br />
IFRS – Employee Benefits<br />
IFRS – Financial Statement Presentation &<br />
Note Disclosure<br />
IFRS – <strong>The</strong> Basics<br />
PD Passports<br />
On SALE Now!<br />
Buy Early & Save!<br />
<strong>The</strong> Personal Passport<br />
Offers the convenience and flexibility <strong>of</strong> 5<br />
seminar days (any combination <strong>of</strong> ½ day,<br />
full day and two day sessions).<br />
• Member Pricing:<br />
$800 until October 15<br />
$950 after October 15<br />
• Non Member Pricing:<br />
$1,100 until October 15<br />
$1,200 after October 15<br />
<strong>The</strong> Corporate Passport<br />
Allows you or others in your organization<br />
9 seminar days (any combination <strong>of</strong> ½<br />
day, full day and two day sessions).<br />
•<br />
•<br />
$2,000 until October 15<br />
$2,200 after October 15<br />
<strong>The</strong> Mini Passport – ONLY for members<br />
who are exempt from paying fees or are<br />
paying reduced fees<br />
Offers the convenience and flexibility <strong>of</strong> 3<br />
seminar days (any combination <strong>of</strong> ½ day,<br />
full day and two day sessions).<br />
•<br />
•<br />
$250 until October 15<br />
$300 after October 15<br />
Personal and Mini Passports can be<br />
purchased through the Member Login<br />
area at www.icam.mb.ca.<br />
Or, go to www.icam.mb.ca and download<br />
a registration form or call us at 942-8248.<br />
Internal Audit – Skills for Success<br />
Non-Pr<strong>of</strong>it Organizations and Registered<br />
Charities – Accounting, Auditing and<br />
Taxation Issues<br />
Review and Compilation Engagements<br />
Risk Management<br />
<strong>The</strong> New Auditing Reporting Model and<br />
Related Changes<br />
Understanding Fraud Risk Factors<br />
Public Sector<br />
Design & Establishment <strong>of</strong> Internal<br />
Controls for Not-for-Pr<strong>of</strong>it & Government<br />
Organizations<br />
First Nations Government Entities -<br />
Accounting and Assurance Matters<br />
Government Organization Workshop<br />
PSAB Update<br />
Taxation<br />
Advanced Tax Planning Strategies<br />
Agricultural Tax Update 2010<br />
Eligible Dividends<br />
Everyday Tax Issues for the General<br />
Practitioner<br />
General Practitioners – Need to Know<br />
GST/HST Refresher for Pr<strong>of</strong>essionals<br />
HST Issues for Manitoba Businesses<br />
Income Splitting<br />
Income Tax Refresher for Personal Tax<br />
Planning<br />
Income Tax Update 2010<br />
Interest, Penalties and Fairness<br />
Introduction to US Corporate Taxation<br />
Purchase and Sale <strong>of</strong> a Business<br />
RIP – Tax Compliance Matters Related to<br />
Terminal Filing Preparation<br />
Scientific Research and Experimental<br />
Development Tax Credits<br />
Section 85 – Transfer <strong>of</strong> Property<br />
Tax Decisions with Long-term Implications<br />
Tax Issues for Private Corporate Groups<br />
Tax Planning for Private Enterprises on<br />
Business Succession<br />
Taxation <strong>of</strong> Domestic Family Trusts – Basic<br />
US Real Estate – Business Investment:<br />
Canadian and US Tax Implications<br />
US Real Estate – Personal Investment:<br />
Canadian and US Tax Implications<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 />
Wealth Management<br />
Creating a Financial Plan<br />
Enough Bull<br />
Estate Planning for High Net Worth<br />
Individuals<br />
Introduction to Life Insurance and Its Role in<br />
Financial Planning<br />
Investing in Stock, EFTs & Mutual Funds -<br />
Beginner’s Tools<br />
Smoke & Mirrors<br />
Corporate Finance<br />
Analysis, Financing and Completion <strong>of</strong><br />
Acquisitions<br />
Business Valuations<br />
Financial Modelling – Building a Financial<br />
Model<br />
Financing Strategies<br />
Management, Leadership & Pr<strong>of</strong>essional<br />
Development<br />
Accelerate the Financial Close Process &<br />
Enhance the Close Controls<br />
Advanced Internet Research Techniques for<br />
Accountants: Part I<br />
Advanced Internet Research Techniques for<br />
Accountants: Part II<br />
Best Practices for Running Your Practice<br />
Blackberry – Learn How to Use your<br />
Blackberry<br />
Building Enterprise Performance Dashboards<br />
Business Writing That Gets Results<br />
Controllership - A Partner for Business<br />
Design & Establishment <strong>of</strong> Internal<br />
Controls for Not-for-Pr<strong>of</strong>it & Government<br />
Organizations<br />
Effective Presentations<br />
Employees Leave Bosses Not Companies<br />
Improving Team Effectiveness<br />
Making the Most <strong>of</strong> New & Social Media for<br />
your Accounting Firm<br />
Manitoba Check-Up - A Presentation on<br />
Living, Working and Investing in Manitoba<br />
Practical Tips for Controllers and CFOs<br />
Stress Management<br />
Strategic Meeting Management<br />
Tongue Fu<br />
Total Leadership: Managing the Whole<br />
Person<br />
Information Technology<br />
Creating Effective Presentations Using<br />
PowerPoint and Other Tools<br />
Excel Financial Reporting and Analysis<br />
Excel Tips<br />
Google Apps for Accountants – An<br />
Alternative to Micros<strong>of</strong>t Office<br />
Security for Accountants<br />
Tech Tools for Preventing and Detecting<br />
Fraud<br />
On-Line Learning<br />
Accounting Standards for Private Enterprises<br />
- A Survey <strong>of</strong> the Standards<br />
Blackberry – Learn How to Use Your<br />
Blackberry<br />
Business Diagnostics<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 />
ABAS, Austin C. (1992) was recently elected as<br />
Chair <strong>of</strong> the Board <strong>of</strong> Directors <strong>of</strong> KPMG in<br />
Canada.<br />
BARNES, Dionne N. (1997) formerly with St.<br />
Margaret’s School is now with League Assets<br />
Corp. in Victoria, BC.<br />
BYRKA, Darren M. (1998) transferred from<br />
the Netherlands to Switzerland with Eaton<br />
Industries Manufacturing.<br />
CAMPBELL, Cynthia C. (1998) previously<br />
with Credit Union Central <strong>of</strong> Manitoba is<br />
now with the Canadian Wheat Board.<br />
DEFER, James P. (1990) formerly with PI<br />
Financial Corp is now with Compliance<br />
Energy Corp in Vancouver, BC.<br />
DROME, Jennifer L. (2004) formerly with<br />
Dome Production accepted a new position<br />
as Director <strong>of</strong> Finance for the Toronto<br />
International Film Festival Group.<br />
GATEY, Brenda J. (1992) is now Manager<br />
Internal Audit Retail and Advanced<br />
Technologies with Agrium Inc. in Loveland,<br />
Colorado.<br />
GUPTA, Manisha (2009) is now with KPMG<br />
in Grand Cayman, Cayman Islands.<br />
GUSTAVSON, Peter B. (1982; FCA, ICABC)<br />
is now with Abacus Bookkeeping in Victoria<br />
BC.<br />
HANNAFORD, Gary B. (1995; FCA 2000)<br />
was recently elected Chair <strong>of</strong> the Manitoba<br />
<strong>The</strong>atre Centre Board <strong>of</strong> Trustees.<br />
HERNANDO, Benjamin J. (2008) formerly<br />
with PricewaterhouseCoopers LLP is now the<br />
Manager, Portfolio Reporting & Governance<br />
with Great West Life Realty Advisors.<br />
HILL, Amber J. (2009) previously with Meyers<br />
Norris Penny is now Manager <strong>of</strong> Finance<br />
with the Canadian Growers Association.<br />
HORBATY, Frederick J. (1998) is now the<br />
Vice <strong>President</strong>, Finance and Chief Financial<br />
Officer <strong>of</strong> Securican.<br />
FOLIO 10<br />
HORKEY, Shauna K. (2009) is now with<br />
Meyers Norris Penny LLP in Calgary, AB.<br />
JOHNSON, Kevin M. (1999) is now with<br />
Antipodean Advisors GP, LLC in New York,<br />
New York.<br />
HOUGHTON, Kevin L. (2002) is now with<br />
Northern Waterworks Inc. in Red Lake, ON.<br />
KONDRAT, Lisa M. (2007) formerly with<br />
Ernst & Young LLP is now with Inmobiliaria<br />
Rio in Santiago, Chile.<br />
KUKELKO, Michael, D. (1987) has been<br />
appointed as a partner with Meyers Norris<br />
Penny LLP.<br />
LAZARKO, Brigitte G.M. (2010) formerly<br />
with Meyers Norris Penny LLP has accepted<br />
the position <strong>of</strong> Manager, Financial Reporting<br />
with Genesys Venture Inc.<br />
LE HEIGET, Kimberly M. (1999) is now the<br />
Senior Financial Planning Analyst for MTS<br />
Allstream Inc.<br />
MACNEILL, Alana M. (2003) previously with<br />
Investors Group is now Director, Corporate<br />
Tax with Emera Inc.<br />
MCDONELL, J. Ross (2008) formerly<br />
with Ernst & Young LLP is now Assistant<br />
Controller with Richardson Oilseed Limited.<br />
MCIVOR, Donovan J. (2006) previously with<br />
MTS Allstream Inc. is now Controller with<br />
CML Northern Blower Inc.<br />
MCKELVIE, C. Stuart (1985; FCA 2009)<br />
is now Chief Financial Officer with Celco<br />
Controls Ltd and has been named a Fellow<br />
Certified Management Consultant from<br />
<strong>The</strong> <strong>Institute</strong> <strong>of</strong> Certified Management<br />
Consultants.<br />
MCSHANE, Sharon E. (1982) formerly<br />
with the Canadian Grain Commission is<br />
now Director, Financial Management and<br />
Accounting Operations with the Royal<br />
Canadian Mounted Police.<br />
NANEK, Randy J. (1985) previously with<br />
<strong>President</strong>’s Choice Bank is now with HRG<br />
North America in Toronto, ON.<br />
PACHAL, Gary K. (1992) formerly with<br />
CanWest Global Communications Corp. is<br />
now with Investors Group Inc.<br />
PAGE, Brooke T. (2007) previously with MTS<br />
Allstream Inc. is now Director <strong>of</strong> Finance for<br />
the Winnipeg Football Club.<br />
PERRIER, Claude E. (1983) is now the<br />
<strong>President</strong> <strong>of</strong> Thunderpine Leasing Inc. in<br />
Thunder Bay, ON.<br />
RAI, Mandeep S. (2009) formerly with Deloitte<br />
and Touche LLP is now Senior Internal<br />
Auditor for New Flyer Industries Inc.<br />
SEYS, Monique S. (2000) previously with 21st<br />
Century Systems Corp. is now with Sequoia<br />
Energy.<br />
SUDERMAN, Krystina M. (2006) formerly<br />
with Deloitte & Touche LLP is now with the<br />
Canadian Wheat Board.<br />
THIESSEN, Timothy C. (2001) is now CFO<br />
<strong>of</strong> Aurcana Corporation in Vancouver, BC.<br />
VERMETTE, M. Valerie (2008) previously<br />
with Ernst & Young is now Manager <strong>of</strong><br />
Financial Reporting with Jovian Capital<br />
Corporation<br />
WOLTMANN, Norman R. (1987) formerly<br />
with Loewen Windows is now with KPMG<br />
LLP.<br />
Summer Hours<br />
<strong>The</strong> <strong>Institute</strong> is now operating on<br />
summer hours. Our doors — now<br />
located at 700 - One Lombard Place —<br />
are open from 8:30 am to 4:30 pm.<br />
Regular <strong>of</strong>fice hours (8:30 am to 5:30<br />
pm) will resume in the fall on Tuesday,<br />
September 7.<br />
<strong>The</strong> <strong>of</strong>fice will be closed on the following<br />
Statutory Holidays:<br />
• August 2<br />
• September 6<br />
•<br />
October 11
Welcome to New Members<br />
■ Admitted by Affiliation<br />
Daniel James FRASER (AB 2008)<br />
Kristine Verna HENRY (ON 2006)<br />
Leslie Angela SIMPSON (ON 2010)<br />
■ Admitted by Examination<br />
Henedyna Millan BADERE<br />
Michael Ryan DERKSEN<br />
Kendle L. DUBYTS<br />
Michael William Paul DUTKA<br />
Ashley Lloydene FAIRBAIRN<br />
Joshua M. GNUTEL<br />
Ashley Yite JIA<br />
Marvin LISAN<br />
Shaun Thomas MCKEE<br />
David Jordan OAKLEY<br />
Jonathan Matthew POKHOY<br />
Indeep SANDHAWALIA<br />
Brent Ryan Ellis SMITH<br />
Jay WU<br />
Retired Members<br />
<strong>The</strong> following members (year <strong>of</strong> designation shown<br />
in brackets) retired and were granted exemption <strong>of</strong><br />
membership fees.<br />
<strong>Doug</strong>las Gerald ADAMS (1974)<br />
Robert Michael ADANAC (1967)<br />
William Robert BADGER (1968)<br />
Roy BIRNBOIM (1962)<br />
<strong>Doug</strong>las Raymond BOWLEY (1967)<br />
James Keith Angus CAMPBELL (1972)<br />
Brian Harding COX (1967)<br />
Myrna Louise FERGUSON (1968)<br />
John Ervin GIESBRECHT (1972)<br />
Graham Paul HARRISON (1973)<br />
Herman Mackenzie KAST (1980)<br />
Leslie Sydney LITMAN (1959)<br />
Robert Rennie MCINNES (1959)<br />
Kenneth Milton MCLEAN (1966)<br />
<strong>Doug</strong>las Roy SANDERSON (1972)<br />
John Robert SKULL (1977)<br />
George Richard SPRINGLE (1968)<br />
Donald William SUTHERLAND (1968)<br />
Mark Joshua Louis SWARTZ (1979)<br />
Ian Robert WHYTE (1968)<br />
Donald Walter YOUNG (1970)<br />
News <strong>of</strong> Members<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 />
Jason Brian ANDERSON<br />
Member 2005<br />
(Residing in Ottawa, ON)<br />
Thomas Francis ARMOUR<br />
Member 1968<br />
(Residing in Winnipeg)<br />
Gilbert Richard ASSIE<br />
Member 1997<br />
(Residing in Saskatoon, SK)<br />
Olia Patricia BASARAB<br />
Member 2009<br />
(Residing in Hamilton, ON)<br />
William Dymetro BODMAN<br />
Member 1968<br />
(Residing in Selkirk, MB)<br />
David Edward BUCKINGHAM<br />
Member 2008<br />
(Residing in Paradise, NL)<br />
Michael Donald CANFIELD<br />
Member 2008<br />
(Residing in Fort Francis, ON)<br />
<strong>Doug</strong>las Lyle COOK<br />
Member 1975<br />
(Residing in Winnipeg)<br />
Freddie Martin COOPERMAN<br />
Member 1979<br />
(Residing in Winnipeg)<br />
Robert Edward HNATOWICH<br />
Member 1980<br />
(Residing in Winnipeg)<br />
Danny HOCHMAN<br />
Member 1976<br />
(Residing in Kelowna, BC)<br />
Gregory Robert KILBRAI<br />
Member 1989<br />
(Residing in Winnipeg)<br />
Brian John MCAUGHEY<br />
Member 1980<br />
(Residing in Winnipeg)<br />
Robert Brian MICHALESKI<br />
Member 1978<br />
(Residing in Calgary, AB)<br />
Stanley Robert MUNROE<br />
Member 1971<br />
(Residing in Delta, BC)<br />
Barbara Joyce SMITH<br />
Member 1979<br />
(Residing in Carman)<br />
Robert Bernhard WALL<br />
Member 1978, FCA 2000<br />
(Residing in Claresholm, AB)<br />
Gerald WOELCKE<br />
Member 1988<br />
(Residing in Boca Raton, FL)<br />
Robert James WOLOSHYN<br />
Member 1971<br />
(Residing in Sierra Madre, CA)<br />
Fangning XIE<br />
Member 2010<br />
(Residing in Vancouver, BC)<br />
Firm Changes<br />
<strong>The</strong> practice name Tadman Hornstein, <strong>Chartered</strong><br />
Accountants, changed to BDO Canada LLP,<br />
<strong>Chartered</strong> Accountants.<br />
Bell & Green, <strong>Chartered</strong> Accountants,<br />
registered a part-time practising <strong>of</strong>fice in Gimli<br />
effective May 15, 2010.<br />
<strong>The</strong> practising firm R.E. Hnatowich, <strong>Chartered</strong><br />
Accountant, was closed due to the membership<br />
resignation <strong>of</strong> the firm’s sole practising member.<br />
KWB <strong>Chartered</strong> Accountants deregistered their<br />
part-time practice in Gimli effective May 15,<br />
2010.<br />
In Memoriam<br />
We record with regret the passing <strong>of</strong>:<br />
Edwin Roy McKerchar ESSERY<br />
(Member 1947, FCA 1973)<br />
Passed Away April 15, 2010<br />
Glenn Alan RUSSELL<br />
(Member 1974)<br />
Passed Away April 22, 2010<br />
Walter WARMS<br />
(Member 1950)<br />
Passed Away June 10, 2010<br />
Robert Rasey WILSON<br />
(Member 1966)<br />
Passed Away February 17, 2010<br />
FOLIO 11
<strong>The</strong> <strong>Institute</strong> has Moved<br />
<strong>The</strong> <strong>Institute</strong>’s <strong>of</strong>fices<br />
are now located in the<br />
Richardson Building.<br />
Our new mailing address is:<br />
700 – One Lombard Place<br />
Winnipeg MB R3B 0X3.<br />
Phone and fax numbers and<br />
email addresses have NOT<br />
changed.<br />
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 />
Kim Metcalfe CA<br />
Director <strong>of</strong> Student Recruitment and Ethics<br />
kmetcalfe@icam.mb.ca Direct Line: 924.4419<br />
Dianne Laidler CMA<br />
Director <strong>of</strong> Administration<br />
dlaidler@icam.mb.ca Direct Line: 924.4412<br />
Shirley Sommer CA<br />
Registrar<br />
ssommer@icam.mb.ca Direct Line: 924.4414<br />
Tanya Beck<br />
Manager <strong>of</strong> Communications<br />
tbeck@icam.mb.ca Direct Line: 924.4416<br />
FOLIO 12<br />
Accounting Framework for Private<br />
Enterprises<br />
Free download available<br />
Accounting Standards for Private Enterprises in<br />
Canada were issued by the Accounting Standards<br />
Board in 2009. <strong>The</strong> standards are effective for<br />
annual financial statements relating to fiscal years<br />
beginning on or after January 1, 2011. Earlier<br />
application is permitted. <strong>The</strong> standards can<br />
be found in Part II <strong>of</strong> the CICA Handbook –<br />
Accounting.<br />
<strong>The</strong> CICA has prepared a reference guide to assist<br />
in the transition to new Canadian accounting<br />
standards. <strong>The</strong> guide provides a comparison <strong>of</strong> new<br />
accounting standards for private enterprises to the<br />
XFI version (found in Part V <strong>of</strong> the CICA Handbook – Accounting).<br />
<strong>The</strong> guide can be downloaded free <strong>of</strong> charge from the CICA website at www.cica.ca/<br />
privateenterprises//index.aspx. If you are interested in receiving a hardcopy version <strong>of</strong> the<br />
guide, please contact the <strong>Institute</strong> at 942-8248.<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 />
www.icam.mb.ca<br />
Coming<br />
Events<br />
Beyond the Perimeter Conference<br />
Elkhorn Resort<br />
September 13 - 14<br />
Uniform Evaluation<br />
September 14-16<br />
Member Recognition Dinner<br />
<strong>The</strong> Fairmont Winnipeg<br />
Tuesday, November 9<br />
Reception 6 pm<br />
Dinner 6:45 pm<br />
UFE Results Release<br />
Friday, December 3<br />
GFOA 2010<br />
Western Canada<br />
Conference<br />
“Above and Beyond –<br />
Meeting Rising Expectations”<br />
<strong>The</strong> <strong>Institute</strong> is a sponsor for the<br />
Government Finance Officers Association<br />
Western Canada Conference 2010 being<br />
held in Winnipeg from September 15-17.<br />
This conference will bring together<br />
leading experts on strategies to deploy and<br />
ways to respond to rising expectations <strong>of</strong><br />
finance <strong>of</strong>ficers, including useful tools and<br />
leading practices.<br />
<strong>The</strong> keynote speaker is <strong>The</strong> Honourable<br />
Reg Alcock, Associate Dean , I.H.<br />
Asper School Of Business, University<br />
<strong>of</strong> Manitoba and former <strong>President</strong> <strong>of</strong><br />
Federal Treasury Board. Reg will share his<br />
perspective on the new realities <strong>of</strong> public<br />
sector finance.<br />
For more information and to register on<br />
line, go to www.westcangfoa.ca.<br />
Folio published by:<br />
<strong>The</strong> <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong> Manitoba<br />
700 - One Lombard Place, Winnipeg, MB R3B 0X3<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