President's notes

HAPPY NEW MILLENNIUM

As we move into the first month of what is technically the 3rd millennium, I'll take this opportunity to wish you peace, health, and prosperity. Let us not forget that as members of a prestigious profession in a stable, industrialized country, we have much to be grateful for.

SPEAKING OUT ABOUT OUR BUSINESS ENVIRONMENT

In this issue you will find an article by UBC Professor Maurice Levi on the impact of tax cuts on revenue. This is a follow-up to a presentation made by Mr. Levi at the recent BC Business Summit. Provincial budgets and revenues are very much in the news these days, and I am delighted to report that our profession is making valuable contributions to the public discussion. Following the Institute's release of the BC Check-Up last fall, we are continuing to provide the BC Government with constructive and positive suggestions during their budget consultation process. A number of our members from around the province have appeared before their budget consultation panel for individual and community presentations. They include council members Brian Downie, CA from Fort St. John, Odd Eidsvik, FCA from Prince Rupert, and Mark Dickie, CA from Prince George. Other presentations by members have included Jeff Omland, CA from Penticton, Todd Sanderson, CA from Kelowna, and Roger Solly, CA from Williams Lake. CEO Richard Rees, CA, and 2nd Vice-President Robin Elliott, FCA, made their presentation in Vancouver. More information on the budget consultations appears on page 10.

CIVIL PENALTIES

There is obviously still a high level of concern among our membership on this issue, as I have recently found from visiting many cities on the Executive Tour. I have asked our Director of Practice Advisory Services, Doug Wallis, CA, to keep our members informed of the latest developments in this area. He and tax practitioner Tim Duholke, CA with Sheinin & Co, recently met with our executive committee for an update. We are especially grateful for Tim's participation as he has excellent knowledge of the issues faced by practitioners every day. He can bring that knowledge to bear in the consultations with the CCRA on implementing practical guidelines. We are also encouraged by the news that the Association of Insured Chartered Accountants (AICA) proposes to provide expanded insurance for our members. Please read Doug Wallis' article on the adjacent page for a more in-depth discussion of the issues and their status. Of paramount importance as we move forward will be ensuring that all of our members are aware of pitfalls, and of new standards of practice, if that is the final result. Notwithstanding the CCRA's assurances that they are not proposing to "raise the bar" - especially in matters relating to Notice to Reader statements - we are especially concerned that this is going to happen. If you have specific concerns please direct them to Doug Wallis at the Institute.

JUNIOR ACHIEVEMENT

It was recently my pleasure to hand out the awards to the Western Regional Champions of the Junior Achievement Business Game, from Okotoks, Alberta. The Championship round was held in Richmond, and I was delighted to meet many of the CA students and the CAs who participated as Coaches and Facilitators for the event. The CAs of BC and Alberta have been proud sponsors of Junior Achievement for many years. The Champion team will move on to compete in a world-wide competition later this year.

A PLUG TO GET INVOLVED

I am now more than halfway through my term as President. I am frequently asked to sum up my experiences so far. In a word, I have to say: "Fun!" It has given me a great opportunity to meet our members around the province and exchange ideas, and to meet other leaders in our profession across the country, as well as those of other professions, both in BC and the US. All of this happens in an environment that offers excellent staff support and a structure that tries to make it as easy as possible for volunteers to have real input. Running for President involves a three-year minimum commitment to run for council, and while there is obviously a time commitment in the first two years, the heaviest time is in the final year. If you are thinking of running, I would be happy to discuss the time commitment, as this is often seen as the largest barrier to involvement. I would also encourage you to consider running for council when nominations are open in May. You will find this an excellent way of learning about the issues and about how the Institute runs. If you would like to talk about this, please feel free to call me or send me an email at

president@ica.bc.ca.

BY CHUCK CHANDLER, FCA, PRESIDENT, CHARTERED ACCOUNTANTS OF BC

Copyright Institute of Chartered Accountants of British Columbia Jan 2001
Provided by ProQuest Information and Learning Company. All rights Reserved