News from CGA-Canada
FROM: JAN-FEB 2005 ISSUE
2003-04 CGA Award Winners
Congratulations to the 15 recipients of CGA-Canada awards for 2003-04. The CGA-CanadaAwards of Excellence are presented annually to the highest academic achievers for each level of the Program of Professional Studies, while the Top Ten Performers of the CGA Program of Professional Studies recognizes the achievement of candidates who have recently completed their certification requirements.
The $5,000 AXA Award is granted annually to the CGA graduate who earns the highest marks overall in the public practice career option. This year's winner is Lisa Moore, CGA, who also placed first among this year's top ten performers. Moore, a past winner of the CCH Canadian Taxation award and the Carswell Taxation Award, works as an accounting technician at a public practice firm, and says her long-term goals are to stay in public practice while continuing to grow, learn, and enjoy the many new challenges in the industry.
This year's recipient of the Carswell Taxation Award is Susmita Dutta, B.Comm., CA (India), CGA, last year's Level 4 winner. Dutta, a recipient of numerous professional awards in her career as a CA, joined Amcor PET Packaging Canada Inc. this spring as assistant plant controller, a position in which she plays a major role in plant-level financial analysis and planning, and inventory control.
Marisa Paitson , BA, CGA, is this year's recipient of the professional level award, as well as the second-ranked top ten performer. Paitson, who won the Cantax Public Practice Award in 1999-2000, was drawn to CGA by the wide range of professional opportunities, and the challenging work. Paitson has spent the past three years in public practice.
Level 4 winner Subramanian Balakrishnan, B.Comm., CA (India), immigrated to Canada in 2003. His primary goal is to establish his credentials as a competent finance professional in his new homeland, with the firm backing of his CGA designation. He is currently manager, finance at MacDonald, Dettwiler & Associates Ltd. in Richmond, B.C.
Udo (Ed) Storm, B.Comm., won the Level 3 award. Storm recently started as a manager, project development in the B.C. Ministry of Transportation, and says his long-term professional goal is to combine knowledge gained from CGA with work experience, so as to move into a senior executive position in the transportation industry.
This year's Level 2 winner, Chris Engley, B.Comm., MBA, has recently relocated to Yellowknife, and says the flexibility of the CGA program and the support provided for distance learning were particularly important to him when making his choice. He currently works as the financial systems coordinator for the Government of the Northwest Territories.
Harinder Kaur Balaji, BA, the Level 1 winner, recently immigrated to Canada, and chose the CGA program to build on her accounting background in India. "CGA is a reputed, well-respected, and flexible competency-based professional accountancy program," she says.
[ TOP ]
Top Ten Recognition Award
CGA-Canada's Top Ten Recognition Award is granted to honour newly certified members who rank as the top 10 performers from across the country.
Top spot goes to Lisa Moore, CGA, who is also this year's AXA Award winner, while in second place is Marisa Paitson, BA, CGA, another double winner, who took the professional level award.
The third-ranked top ten performer is Hakeem Oguntola, CA (Nigeria), CGA. Oguntola, who relocated to Toronto in 2000, also holds a master's degree in philosophy (agricultural economics), and is currently with Nestlé Canada Inc. as the senior cost/inventory analyst.
[ TOP ]
Other Top Ten Recipients
Ravinder Bhalwal, B.Comm., CA (India), CGA, who won the Carswell Taxation Award in 2002-03. Bhalwal has since June 2004 worked as controller for the Toronto Flight Kitchen of Cara Operations Ltd., Airport Services Divison.
Tyler Curry, B.Sc., CGA, currently provides services to a wide variety of owner-managed businesses, including tax and estate planning, and personal tax preparation.
Agni Exarchoulis, CGA, is a previous CCH Canadian Taxation 1Award winner, who has several years of public practice experience with large international accounting firms, primarily in financial reporting and auditing.
Pamela Felix, CGA, a past winner of the CCH Canadian Taxation 2Award, currently works in public practice, and feels her CGA designation will continue to provide her with many learning opportunities.
Tracy Griffiths, BA (Hon), CGA, is currently employed by Collins Barrow Chartered Accountants in Sarnia, Ontario, where she provides a wide variety of accounting services.
Darlene Higgs, B.Comm., CGA, works for a public accounting firm in Nova Scotia providing services to both individuals and corporations; she plans to remain in public accounting, with a focus on business plans and taxation.
Nathalie Morneau, BBA, CGA, is currently employed by the STERIS Corporation of Canada, and hopes to promote accounting as a career choice for more students.
[ TOP ]
CGA-Canada Recruiting for AcSB
CGA-Canada is looking to further its contribution to the accounting standard-setting process in Canada by establishing a presence at the Accounting Standards Board (AcSB).
The Association is currently in search of a CGA to work directly with the AcSB in Toronto. This is a two-year assignment, subject to ongoing evaluation, with the successful candidate accountable to CGA-Canada through the Vice-President, Standards and Research.
Qualified candidates will have experience preparing financial statements for a range of different types of reporting entities, most likely in public practice, or using financial statements as an analyst, investment manager, or bank lender. Applicants must have a minimum of five years'post-certification experience.
To apply, send a résumé and cover letter by February 28, 2005, to:
Human Resources
CGA-Canada
800 – 1188 West Georgia Street
Vancouver, BC V6E 4A2
Fax: 604 605-5016
E-mail: hr@cga-canada.org
[ TOP ]
Athabasca EMBA Among World's Best
One of CGA-Canada's degree partners has been recognized as a world leader once again. Athabasca University's Executive MBA program has been listed among the top 75 EMBA programs in the world by the Financial Times of London, the second year in a row it has achieved the honour. The Athabasca program, the world's first online MBA, is the only online Executive MBA to be included in this year's list.
The annual Financial Times rankings are based on alumni surveys and business school questionnaires that track performance in three main areas: the career progress of the alumni; the school's diversity and the international experience it offers; and the school's intellectual output and research.
CGA-Canada has a partnership with Athabasca's Centre for Innovative Management to offer an Executive MBA for CGAs. The program is designed to augment CGAs' financial and accounting knowledge through an in-depth examination of the key components of successful management strategies.
More information about the Athabasca Executive MBA for CGAs is available at www.cga-online.org/canada or www.mba.athabascau.ca/cga/index.htm.
[ TOP ]
CGA Partners with Edward Jones
CGA-Canada has entered into a partnership with brokerage firm Edward Jones to provide satellite-delivered continuing professional development seminars to accountants and lawyers. The broadcasts are aired in participating Edward Jones offices, providing CGAs in smaller communities with professional development opportunities close to home.
The first satellite broadcast dealt with the subject of marketing professional services and took place on October 13, 2004. Everett Colby, FCGA, Chair of CGA-Canada's Tax and Fiscal Policy Committee, was one of the featured panellists in the session. The next session is a tax law update, scheduled for January 19. Thomas McCallum, FCGA, will participate in the panel.
Edward Jones has more than 500 offices in Canada and 8,800 offices worldwide. It has offered the satellite-delivered seminars in the United States for several years. More information about upcoming satellite broadcast seminars is available on PD Network (www.cga-pd.net) in the "Partners" section.
[ TOP ]
CGA Online Portal Launched
The highly anticipated CGA Online portal was unveiled in September 2004. The portal, located at www.cga-online.org, updates and restructures Web content from CGA-Canada and most CGA Affiliates, and provides a comprehensive online destination for CGA-related services.
Designed with CGAs, students in the Program of Professional Studies, and the general public in mind, CGA Online enables participating Affiliates to share content applicable to members in more than one region or develop materials that are targeted towards a specific audience. The ThinkCGA and Professional Development Network sites are also accessible through the CGA Online portal.
CGA Online was built through the cooperative effort of ACCPAC and CGA Online Services Corporation using Web infrastructure technology from Computer Associates. The site was designed and implemented by a joint team of ACCPAC and CGA staff, and is operated by CGA Online Services Corporation, a consortium formed and funded by various CGA Associations, including CGA-Canada.
ACCPAC and CGA-Canada first established a strategic partnership for technology training for CGA students in 1985, and have worked together continuously since then to promote and deliver technology programs for both students and members.
[ TOP ]
CGA-Canada Makes Pre-Budget Submission
In the Association's annual pre-budget submission, CGA-Canada urged the Canadian government to use a projected $8.9 billion surplus to cut personal and corporate tax in the 2005 federal budget.
Everett Colby, FCGA, Chair of the CGA-Canada Tax and Fiscal Policy Committee, appeared before the House of Commons Standing Committee on Finance as part of the pre-budget consultation process. At that time, Colby commented, "We believe that if our tax cutting proposals are implemented, they will contribute to conferring a competitive edge on all classes of Canadian taxpayers relative to U.S. counterparts."
The projected budget surpluses announced by Finance Minister Ralph Goodale in his recent Economic and Fiscal Update provides sufficient room for prudent tax reductions to benefit all Canadians. CGA-Canada proposed that the taxable income threshold be increased by 25 per cent, and that upper rates be further reduced and expanded. These measures would increase efficiency and enhance incentives, compliance, and other economically consequential factors.
In addition, the Association recommended the Finance Minister consider shifting taxes from an income to consumption base through a regulated regime of tax pre-paid savings plans. Shifting to a consumption base could prepare Canadians for the future financial responsibilities of an aging population, decrease tax avoidance among high income earners, and, more importantly, preserve tax progressiveness while promoting savings among those facing increasing marginal tax rates.
CGA-Canada also urged the government to further reduce corporate tax rates to create a competitive tax advantage that would make Canada a preferred gateway for business and international expansion in the North American market.
The pre-budget submission to the Finance Committee contained a total of 25 recommendations, covering four key economic and fiscal principles:
- Continued commitment to fiscal prudence and expenditure control;
- Competitive federal tax policy;
- Efficient and smart regulation; and
- Effective interprovincial and international trade policy.
[ TOP ]
CGA-Canada Unveils New Certification Model
In December CGA-Canada announced the launch of a new certification model that will ensure CGAs continue to meet the demands of today's rapidly evolving business environment. Under the new model, the Association's professional applications (PA) requirement has been revamped and will now consist of two courses and two capstone examinations designed to expose students to different aspects of the profession.
Changes are the result of two years of research into the evolution of accountancy, and are intended to further support accountants' roles in upholding public trust and acting as strategic business leaders.
The Issues in Professional Practice component of the new model will focus on the perspective of an external accountant providing auditing, taxation, and business advisory services to clients. The Strategic Financial Management component will focus on the internal accountant or financial manager, and offer an in-depth study of strategic financial management concepts.
In addition to the PA component, candidates will also be required to complete two career option courses and the accompanying examinations. The four existing financial management career options in the program will be retained to ensure flexibility for students, positioning them for successful careers and promoting lifelong professional development. These changes will be implemented in the 2006-07 academic year, and will not affect current students.
The new certification model continues to meet or exceed international standards set out by the International Federation of Accountants. For more information, visit www.cga-online.org/canada.
[ TOP ]
CGA Appointed to AFOA
John Carter, CAFM, CGA, has been appointed to the Aboriginal Financial Officers Association of Canada (AFOA) board as a CGA-Canada representative. Carter, who served as president of CGA Northwest Territories/Nunavut for 2003-04, was nominated to the AFOA board by CGA-Canada.
AFOA is a national professional association for people working in, or aspiring to fill, financial management positions within First Nations organizations, and is responsible for training, certification, and professional development in aboriginal financial management.
CGA-Canada has historically enjoyed a close relationship with AFOA, sharing expertise and skills for exam development, and aiding in capacity building. Individuals who obtain the Certified Aboriginal Financial Manager (CAFM) designation are eligible for advanced standing toward the CGA designation.
[ TOP ]