Spring forward: Our new FCAs, council policies, and the CPA debate

THE NEW FCAs

There are parts of this job that I just love. It was my pleasant duty to call up the recipients of this year's FCA awards and give them the good news just before Christmas. Without exception, the recipients were deeply touched and honoured. They are all immensely qualified and have performed extensive service to their committees and profession. My hearty congratulations to the following:

Frank Barr, FCA

Craig Bushell, FCA

Michael Francis, FCA

Derek Fryer, FCA

Barry Mottershead, FCA

Richard Rees, FCA

Dick Richards, FCA

John Smiley, FCA

Fred Yada, FCA.

For more information on our new FCAs, please see page 6.

SPRING CLEANING

Talk about a major spring-- cleaning project! At our November 2000 Council meeting, we bundled up 95 years of Institute Council policies and dumped them into the trash bin. That is not to say that we are now without policies - quite the contrary. We have successfully completed our in-depth policy reviews and have adopted a streamlined set of new policies. Under the leadership of VicePresidents Frank Barr, FCA, and Robin Elliott, FCA, we have approved executive limitations that effectively set the framework for the CEO's functions. In addition, we have established a governance process that defines the Council's job description, agenda planning, the role of the president and Council members, and the framework for the accountability of the CEO to Council. The Council also established the global objectives, or "ends," of the Institute as an organization. The two highest goals now are furthering the profession's strength and influence by increasing attractiveness to new and existing members and by maintaining its sterling reputation as a profession of independent objective advisors.

THE NEXT STEP

A task force chaired by Frank Barr, FCA, has been struck to review current Council policies on our regulatory processes, including membership, practice review, and professional conduct. The objective will be to create Carver-type policies (dealing with broad principles of policy and staying out of the administrative details) which we expect will be a first for any provincial institute. Frank's task force will look at policies in other provinces (primarily Alberta and Ontario) and is expected to report back in final in May. Assisting the work of the task force will be our new Director of Ethics, Chris Utley, CA, and Director of Practice Review, Mike Essex, CA. Special thanks to: Director of Internal Operations, Jan Sampson, CA, Director of Member Services, Barry Mottershead, FCA, and Manager, Executive Office, Eleanor Joughin for their good humoured support sifting through years of old policies.

"CPA" - SHOULD WE USE IT?

The Accountants (Chartered) Act of British Columbia specifically prohibits the use of "Certified Public Accountant" (CPA) in British Columbia. However, we have many members who have now passed the CPA reciprocity exam, with more members doing it all the time. Many of our members work for companies based in the United States or for public companies reporting to the Securities and Exchange Commission. Increasingly, Canada and the United States are becoming more integrated in financial markets, cross-border transactions, and in the sheer movement of people. There are changes underway in Ontario and Alberta about the usage of the term CPA in connection with the CA designation, so long as the state of registration is also included (i.e. CA, CPA (Illinois)). Should we make the change here? I would like to hear your views on this, and I encourage you to e-mail me at:

president@ica.bc.ca.

BY CHUCK CHANDLER, FCA,

PRESIDENT, CHARTERED ACCOUNTANTS OF BC

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