CGAs played an active role in the accounting community in 2003-2004, with appointments to several national and international organizations. Revisions to Association by-laws were also proposed during the year.
CGAs Named to IFAC Board, Task Force
In November 2003, the International Federation of Accountants (IFAC) appointed Sylvie Voghel, FCGA, to its Board of Directors. Voghel, a former CGA-Canada Chair and IFAC technical advisor, was one of two Canadians named to the Board and was appointed for a two-year term.
The IFAC Board is comprised of 21 members from 17 countries, and is responsible for setting policy and overseeing the operations of IFAC. IFAC's purpose is to represent the public interest, advance the accounting profession, and contribute to the development of strong economies; it represents more than 2.5 million accountants in 118 countries around the world.
Dale Gislason, FCGA, was appointed to the newly established Small and Medium Practices (SMP) Permanent Task Force of IFAC. Gislason, also a former CGA-Canada Chair, was one of 11 members named to the task force at the IFAC Board meeting in Jaipur, India in March.
The task force was formed to address the unique concerns of SMPs and give the SMP sector more input into the development of the accounting profession. IFAC initially created a working party in 2000 and then a task force in 2001, with a two-year mandate to identify the needs of SMPs.
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CGAs Appointed to AcSOC, AcSB
This past April, Thomas Allen, QC, Chair of the Accounting Standards Oversight Council (AcSOC), announced the appointment of Gilles Bédard, FCGA, Assistant Auditor General for the province of Quebec, to AcSOC for a three-year term starting April 1, 2004. Robert Morgan, CFA, CGA, of Forbes Morgan Consulting was also appointed to the Accounting Standards Board (AcSB) for the same three-year term.
Other CGAs involved in the Canadian accounting standards-setting process include David Sela, CGA, of Best Buy Canada Limited (Vancouver), who is a member of the Financial Instruments Working Group, and Bill Lovatt, CFA, FCGA, of Great West Life Assurance Co. (Winnipeg), who sits on AcSOC.
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CPAB CEO Speaks to CGA-Canada Board
David Scott, Chief Executive Officer of the Canadian Public Accountability Board (CPAB), addressed the CGA-Canada Board of Directors at its March meeting to present the structure and rationale of the CPAB organization. At the meeting, CGA-Canada Board members questioned Scott on the transparency and inclusiveness of the current CPAB structure and CGA's role in governance of the organization.
CGA-Canada has been critical of CPAB's structure since it was created in 2002 to oversee the auditing of public companies. Following Scott's presentation, the Board agreed to work with CPAB as it evolves, while continuing to raise issues of concern regarding a lack of transparency, inclusiveness, and independence.
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By-Law Amendments
The Association's by-laws were last amended September 27, 2002, and several changes to the by-laws were proposed at the July 2004 Board meeting. Key changes included revisions to voting regulations and a provision to allow the Association's financial statements to be posted online.
The new amendments will be presented to the Association's Annual General Meeting, which is scheduled for December 10, 2004, in Toronto, Ontario.
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