Perspective
Accountability at the Top
The need for financial literacy in the corner office has never been greater. Ever since WorldCom and Enron changed the face of corporate accountability, the public has been calling for greater fiscal control and disclosure from senior leaders — whether or not they happen to be financial professionals. This new focus on fiscal transparency and financial accountability in the executive suite means businesses, governments, and organizations in Canada and around the world are counting on seasoned financial professionals and designated accountants to play key leadership roles as never before.
The requirement in Canada and the United States for CEO and CFO certification of the financial statements of publicly traded entities is a case in point. Likewise at the federal level, recent initiatives from the Office of the Comptroller General are aimed at bringing a disciplined financial management model into government and Crown corporation operations. Definitely, the push is on for greater transparency, financial discipline, and control.
From our Association's perspective, this new reality presents two things: a golden opportunity and a major challenge. The opportunity is to ensure that experienced CGAs move even further into the leadership ranks of business and government to play critical strategic roles while bringing financial acumen to bear on their leadership responsibilities.
The challenge is to provide even greater access for both aspiring leaders and seasoned professionals to become CGAs in a timely and effective fashion. The CGA Program of Professional Studies provides a broad and deep learning environment. With its commitment to integrity, ethics, and the highest educational standards, the CGA program is an excellent choice for those seeking the most current financial know-how, the broadest scope of professional accounting education, and the most sophisticated management thinking.
Professional accounting bodies have a responsibility to respond to the new reality with innovation and creativity. The CGA federation comprised of national and provincial affiliates working together has the tools and the skills to support today's environment of greater public accountability. And we are committed to acting on our overriding obligation to protect the public interest.
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