News from CGA-Canada
FROM: JAN-FEB 2004 ISSUE
CGA-Canada's Privacy Policy
CGA-Canada respects and upholds an individual's right to privacy and protection of personal information. Should you choose to provide personal information to CGA-Canada, the Association uses stringent security safeguards to ensure that your information is protected.
CGA-Canada's Privacy Policy incorporates the provisions of the Personal Information Protection and Electronic Documents Act and the ten key principles of the Canadian Standards Association Model Code for the Protection of Personal Information. This policy applies to anyone who provides personal information to CGA-Canada, whether directly or through the CGA-Canada Web site.
The complete text of CGA-Canada's Privacy Policy is available on the CGA-Canada Web site at www.cga-canada.org. If you have a question about the policy, or a concern or complaint regarding the privacy practices of CGA-Canada, please contact the Privacy Officer by telephone at 1 800 663-1529, by e-mail at privacyofficer@cga-canada.org, or by regular mail at:
Certified General Accountants Association of Canada
800 — 1188 W. Georgia St.
Vancouver, B.C.
V6E 4A2
ATTN: PRIVACY OFFICER
For general questions regarding privacy regulations, we invite you to visit the Privacy Commissioner of Canada's Web site at www.privcom.gc.ca.
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CPAB Response
After seeking input from its members, CGA-Canada has responded to the Canadian Public Accountability Board's (CPAB) proposed registration process for participating audit firms. The response addresses five specific areas of concern: fees, the provision of an initial quality control report, independence standards for auditors, inspections, and inappropriate information requests.
The proposed registration process would apply to public accounting firms that audit the statements of reporting issuers. The period for public comment ended on November 10. The complete CGA-Canada response to the CPAB proposals is available on the CGA-Canada Web site.
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2002-03 CGA Award Winners
Congratulations to the 17 recipients of CGA-Canada awards for 2002-03. The CGA-Canada Awards of Excellence are presented annually to the highest academic achievers for each level of the Program of Professional Studies. This year, CGA-Canada introduced a new award category for candidates who have just completed their certification requirements — the Top Ten Performers of the CGA Program of Professional Studies.
Each year, AXA Canada grants the $5,000 AXA Award to the CGA graduate who earns the highest marks overall in the public practice career option. Yevgeniy Meshcherekov, B.Comm., CGA, is this year's recipient of the award. Meshcherekov began his accounting career with an international trading company in Russia. Since immigrating to Canada in 2000, he has worked for Morgan & Company CAs, dealing mostly with the accounting and auditing needs of publicly traded companies.
As well, Carswell sponsors the $1,000 Carswell Taxation Award for the student who attains the highest mark in Taxation 2 on the first sitting. Award winner Ravinder Bhalwal,B.Comm., CA (India), is the assistant controller at Intercorp Excelle Foods Inc. in Toronto. The CGA designation will augment a bachelor of commerce degree, a CA designation from India, and completion of the Canadian Securities Course. He has received many awards in his academic career.
Each CGA-Canada Award of Excellence winner received a cash prize of $1,500 and a plaque.
Susan Gibbons, BBA, CGA, won the professional level award. She is the assistant controller for Playground, a division of Intrawest Corp., and chose the CGA program "because it teaches the skills necessary to gain a deep understanding of an organization's financial health." Gibbons is a double-winner this year, placing first among the top ten performers in the CGA program.
This is the first Canadian award for Level 4 winner, Susmita Dutta, B.Comm., CA (India), who earned numerous awards during her academic and professional training as a chartered accountant. Dutta worked as an auditor and as a senior cost accountant for international companies in India, and has continued her profession in Canada as a senior accountant with Gram Precision Sales Inc. in Toronto.
Level 3 winner Ying Xu is a student in CGA-Canada's international program. Xu's biographical information was unavailable at press time.
Level 2 winner Christie Ryan decided to pursue an accounting designation when she realized that her most rewarding jobs had always been accounting-related. The distance education format of the CGA program allows her to work while learning.
This year, there was a tie between Nisha Agrawal and Wenlin Wang for the Level 1 award. Nisha Agrawal, B.Sc., works as an accounts administrator for the Bentall Corporation.
Wenlin Wang, B.M.Sc., recently immigrated to Canada from China, leaving behind a career in medicine. She has shifted her focus to business and was attracted to the CGA program by its professional reputation.
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Top Ten Performers
All Top Ten Performers winners (tie for tenth place) were honoured with a certificate.
First place was awarded to Susan Gibbons, BBA, CGA, who is also the winner of the Professional Level Award of Excellence.
Jan Morton, CGA, earned the second place award. After years of working in a variety of accounting positions, Morton started her own company, Excel Flight Training. As secretary/
treasurer of the company, Morton does everything but the actual flying.
The third place award went to Jeremy Bast, BA, CGA. Bast works for Grant Thornton in Kentville, N.S., where he manages personal and corporate tax planning.
Other Top Ten Recipients:
Robert Bill, B.Sc., CGA, is an income tax auditor for the CCRA in the Montreal area.
Yevgeniy Meshcherekov, B.Comm, CGA, is also the winner of the AXA Award.
Robert Vandervelde, BA, MBA, CGA, is a previous Award of Excellence winner and currently works as a tax policy analyst for Alberta Finance.
Rebecca Fang, BA, MBA, CGA, has worked in the accounting field in many different industries and countries. Based in Calgary, she is now the general accounting manager for Canada for Precision Drilling Corporation.
Shawna McGee, Dipl.Comp.Acct., CGA, has 14 years' experience in accounting positions in the manufacturing industry. Her most senior position was as the controller for a commercial printer in B.C.
Peimin (Martin) Ma, B.Comm., MBA, CPA (China), CGA, is an internal auditor for the Government of the N.W.T.
Ann Morrison, B.Sc., Dipl. Engineering, CGA, is a financial administration officer with a publisher in Inverness, N.S.
Peggy Mercer, CGA, has enjoyed a long accounting career with Shell Canada, most recently as a business controls auditor with the internal audit department.
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Board Committees 2003-04
Audit Committee
Brenda L. Waechter, FCGA (BC) — Chair
Brian Moore, CGA (ON)
John McCulloch, CGA (NS)
Finance Committee
Dany Girard, FCGA (QC) — Chair
Joyce Evans, CGA (ON)
Louise Forester, CGA (SK)
Alain Laplante, FCGA (QC)
Len Pietrzykowski, FCGA (BC)
Peter Webber, FCGA (NB)
Honours & Awards Committee
Michel Guindon, FCGA (QC) — Chair
Ernie Boudreau, FCGA (NB)
Chris Edworthy, FCGA (AB)
Bruce Hryciuk, FCGA (BC)
Shirley Reilly, FCGA (ON)
International Committee
Michel Guindon, FCGA (QC) — Chair
Colin Bruintjes, FCGA (BC)
Dany Girard, FCGA (QC)
Dale Gislason, FCGA (MB)
Bruce Hutton, FCGA (ON)
Louise Nesterenko, FCGA (AB)
William (Bill) Pitre, CGA (PEI)
National Education Committee
Ron Colucci, FCGA (ON) — Chair
Emilio Boulianne, CGA (QC)
John Carter, CGA (NWT/Nunavut)
Lynda Dettinger, CGA (ON)
Diana Eisenhauer, FCGA (NS)
Rita Estock, CGA (BC)
James Gaa, FCGA (AB)
Paula Gallant, CGA (PEI)
Patti Hale, CGA (YK)
Alac Ho, CGA (International)
Egbert McGraw, FCGA (NB)
Catherine Mengel, CGA (SK)
Debbie Mortimer, CGA (MB)
Wade Rogers, FCGA (NL)
National Professional Standards Committee
D. Scott Anderson, FCGA (MB) — Chair
Chantal Bélanger, FCGA (QC)
Gordon Cook, FCGA (NL)
Richard Duffield, FCGA (ON)
Robert Harrison, FCGA (NB)
Don Hillstead, CGA (SK)
Moe Jones, CGA (BC)
Robert Fendrick, CGA (YK)
Laurie Ouellette, FCGA (NWT/Nunavut)
Brenda Reid, CGA (NS)
Alex Robert, CGA (PEI)
Stephen Rosenfield, FCGA (MB)
Laura Leigh White, FCGA (AB)
Professional Liability Insurance Committee
Gordon Chan, FCGA (BC) — Chair
D. Scott Anderson, FCGA (MB)
Kent Ferguson, FCGA (NWT/Nunavut)
Bruce Hutton, FCGA (ON)
Tax & Fiscal Policy Committee
Everett E. Colby, FCGA (ON) — Chair
James Dunphy, FCGA (AB)
Bob Harvey, FCGA (BC)
Grant Kirkup, FCGA (MB)
Strategic Planning Committee
Louise Nesterenko, FCGA (AB) — Chair
Colin Bruintjes, FCGA (BC)
John Carpenter, FCGA (AB)
Ron Colucci, FCGA (ON)
Michael Geiger-Wolf, CGA (MB)
Roger Hébert, FCGA (NB)
Luc Provencher, FCGA (QC)
Magazine Editorial Advisory Board
Gordon Clissold, CGA (BC) — Chair
Anne Driscoll, CGA (NS)
Brian Moore, CGA (ON)
Leonard Roth, FCGA (QC)
Laura Leigh White, FCGA (AB)
Chief Operating Officers Group
Anthony Ariganello, CGA (CGA-Canada)
Bill Caulfield, CGA (Hon.) (BC)
John Carpenter, FCGA (AB)
Lin March, FCGA (SK)
Len Hampson, FCGA (MB)
Diane Burgess, CGA (ON)
Alain Girard, CGA (QC)
Donald Connor (NS)
Trudy Dryden, FCGA (NB)
Robert Landry, CGA (PEI)
Gary Burgess, CGA (NL)
Degree Steering Group
David White, FCGA (NF) — Chair
Grant Christensen, FCGA (MB)
Roger Hébert, FCGA (NB)
Bill Johnson, FCGA (BC)
Alain Laplante, FCGA (QC)
Gilles Nolet, CGA (QC)
International Vision Task Force
Dale Gislason, FCGA (MB) — Chair
John Carpenter, FCGA (AB)
Bill Caulfield, CGA (Hon.) (BC)
Alain Girard, CGA (QC)
Elson Jordan, CGA (International)
Jackie Poirier, FCGA (NS)
Glen Schmidt, FCGA (ON)
Research Foundation Board
Diana Eisenhauer, FCGA (NS) — President
Lynda Carson, FCGA (CGA-Canada) — Vice-President
Stephen Spector, FCGA (BC) — Secretary-Treasurer
Research Steering Committee
Anthony Ariganello, CGA (CGA-Canada) — Chair
James Dunphy, FCGA (AB)
Michel Guindon, FCGA (QC)
Bruce Hutton, FCGA (ON)
Luc Provencher, FCGA (QC)
Gordon Ruth, FCGA (BC)
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Task Force Report Endorses CGA Recommendations
The report from the Prime Minister's Task Force on Women Entrepreneurs includes recommendations that reflect CGA-Canada's submission to the task force. The report makes 69 recommendations in all.
Three of the recommendations, in particular, endorse CGA-Canada positions. The recommendations are:
- that the federal government work with the private sector to fill the financing gap in growth and venture capital;
- that the federal government create "one-stop shopping" access to information designed for women entrepreneurs;
- that maternity leave benefits be extended to self-employed women.
CGA-Canada's submission to the task force focused on four priority areas — access to capital, education and training, the employment insurance program, and taxation. The complete CGA-Canada submission to the task force can be read on the CGA-Canada Web site.
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CGA-Canada Proposes Meeting of Stakeholders
CGA-Canada President and COO Anthony Ariganello, CGA, addressed the Accounting Standards Oversight Council (AcSOC) meeting in Toronto on October 20, presenting an update on the Association's initiatives to restore confidence in financial reporting, and suggesting a future collaboration between AcSOC and CGA-Canada.
Ariganello proposed that AcSOC, in collaboration with CGA-Canada, convene a meeting of stakeholders, including users and preparers of financial information, as well as government and regulators. Such a meeting was recommended in a report issued last summer by the Senate Standing Committee on Banking, Trade and Commerce, and would be intended to address concerns around the independence of Canada's accounting standards setting structure.
CGA-Canada has been critical of the relationship between the standard-setter – the Accounting Standards Board (AcSB) – its oversight council (AcSOC), and the Canadian Institute of Chartered Accountants (CICA), which represents one particular professional accounting designation.
Ariganello also acknowledged some positive developments on the part of AcSOC in the past year, including an effort to broaden its range of stakeholder representation, and obtaining the authority to self-perpetuate, meaning that nominees to AcSOC will no longer require the approval of CICA.
The complete text of Ariganello's AcSOC presentation is available on CGA-Canada's Web site.
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Study Supports International Standards
A recently released discussion paper by Dan Simunic, FCGA, concludes that Canada should adopt International Auditing Standards. The paper is an important addition to the ongoing discussions on the evolution of international auditing and accounting standards, and builds on earlier research by CGA-Canada.
The Adoption of International Auditing Standards in Canada can be read on the CGA-Canada Web site at www.cga-canada.org. Dan Simunic is a professor at the Sauder School of Business at the University of British Columbia.
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Revising the Education Tax Credit
CGA-Canada is one of seven professional associations that have submitted a joint letter to the House of Commons Standing Committee on Finance urging that changes be made to the Education Tax Credit.
The Association has long advocated that the tax credit discriminates against people seeking further training in their present field of employment. In order to build support for the legislative change, CGA-Canada rallied a number of like-minded national associations to the issue, resulting in the letter.
The group reflects a wide range of professions, and is made up of: the Canadian Nurses Association, the Canadian Counselling Association, the Canadian Council of Professional Engineers, the Canadian Manufacturers and Exporters, the Insurance Brokers Association of Canada, and the Canadian Dental Hygienists Association, in addition to CGA-Canada. As well, the Canadian Institute of Chartered Business Valuators sent in a separate submission supporting the joint letter and urging changes to the Education Tax Credit.
The joint letter can be read on the CGA-Canada Web site.
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Pre-Budget Submission Focuses on Tax, Debt, and EI
CGA-Canada's pre-budget submission to the House of Commons Standing Committee on Finance on October 21, focused on three issues: tax reform, debt reduction, and employment insurance provisions. The submission was made by Tax and Fiscal Policy Committee Chair Everett E. Colby, FCGA.
The Association recommended three measures to make Canada's tax system fairer, simpler, and more responsive. As well, it suggested a medium-term debt reduction target of a debt-to-GDP ratio of 30 per cent by the year 2010 be set. The Association also recommended that the principle of employer/employee parity apply to employment insurance rates.
The Association cited its recent submission to the Prime Minister's Task Force on Women Entrepreneurs to support a recommendation that the government review provisions of the EI system, in particular with regard to their fairness to entrepreneurs.
The complete pre-budget submission can be read on the CGA-Canada Web site. It is anticipated that a federal budget might be tabled in March 2004. As usual, CGA-Canada will offer complete analysis of the budget on its Web site.
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