J U N E 2 0 0 8V O L U M E 3 5 • N U M B E R 2

+

g

The CGA-BC student newsletterPage 17

A P U B L I C AT I O N O F T H E C E R T I F I E D G E N E R A L A C C O U N TA N T S A S S O C I AT I O N O F B R I T I S H C O L U M B I A

105 8 25Where in the World is the Web Headed?

Boosting Your Memory

CGA Spreads its Wings Down Under

Gadgets Galore: Must-Haves for CGAs

sessionsthe CGA-BC student newsletter

28

15

3

4

5

6

8

40

Letters to the EditorA potpourri of comments from our readers.

TaxMatters by Ed Kroft, CGA (Hon.)The state of legal challenges to the CRA’s demandfor documents and information.

TechView by Gabriel Vitus, MSc, PEng (SA)When it comes to publishing, the World Wide Webwas the greatest thing since the printing press. Sowhat’s planned for an encore?

InDepth by Matt Noel, BA, FMAThe numbers show that the Federal government’snew Tax-Free Savings Account may be a good bet.

Periscope by Dr. Nancy D. O’Reilly, Clinical PsychologistHow many times have you been caught shortbecause you couldn’t remember a name or someother detail? We have some tips to help avoid thoseembarrassing moments.

PartingShotWe take another journey back in time as part of ouranniversary celebrations and interview W. CurryMcCalpin, FCGA, CGA-BC’s first President.

Global ReachCGA signs agreement with CPA Australia.

Ethics in FocusDoing your due diligence. A simplebut essential checklist to make sure you are meeting the highest standards.

Current AssetsA new Blackberry, the rise of the ‘Black Swan’ phenomenonand a quick guide to social networking Websites.

Working PapersThe 411 on the new ethics requirement – reviewing the rules,continuing professional development and who’s who in Mem-ber Services.

Practice ReviewAPPM in Kelowna, fees and insurance deadlines, deadline foradvisory group nominations and new money laundering rules.

SnapshotsCGA heads Chamber, New York, New York, and On-Board:new Governor and new Lay Member join the Association’sBoard of Governors.

Balancing Life, Work and StudyA look a how students juggle their commitments.

What Our Students are Saying Results of the latest student survey.

Staff Profile: Cindy James is at your service.

v i e w s s p o t l i g h t

38

28

c o v e r s t o r y

Balancing Career and HomeSeismic changes in the workplace are changing the way we approach work, home and daily life.

f e a t u r e s

Member Profile: The Ties that BindAs part of our ongoing 100th anniversary coverage, Outlook talksto CGAs who are united by their family ties.

10

12

25

34

35

38

40

Read and Win! Read the Vision 2008 report includedin Outlook for a chance to win a nightat one of Vancouver’s best hotels.

s e s s i o n s s t u d e n t n e w s l e t t e r

19

22

24

contentsoutlookJ u n e 2 0 0 8 V o l . 3 5 N o . 2

vision2008

ou

tl

oo

k

ed

ito

r’s

me

ss

ag

e

AdvertisingFor advertising rates contact Pardeep Clair at (604) 730-6228 or visit our Website at www.cga-bc.org Outlook is the premier way to contact B.C.’s CGAs.

Outlook is published four times a year by the Certified General Accountants Association of British Columbia and is sent to more than 14,000 CGA members and CGA students. Opinions expressed are not necessarily endorsed by CGA-BC. Copyright CGA-BC 2008.

Articles, enquiries and lettersArticles, enquiries and letters should be sent to Outlook: CGA-BC, 300-1867 West Broadway, Vancouver, B.C., V6J 5L4(604) 732-1211 or (800) 565-1211 ISSN 1488-2337 Outlook - Certified General Accountants Association of British Columbia.

CGA onlineMembers and students, you can find all of your most important CGA-BC services online at www.cga-bc.org.

Cover Photoistockphoto.com

outlookExecutiveCommittee

PresidentPat Keller, BBA (App), FCGA

Past-President/TreasurerGordon Clissold, FCGA

First Vice-PresidentStephen Spector, MA, FCGA

SecretaryR. W. (Bill) Caulfield,BA, FCIS, CGA (Hon.)

ExecutiveStaffExecutive Director

R. W. (Bill) Caulfield,BA, FCIS, CGA (Hon.)

Director of AdministrationDan Cheetham, CGA

Director of Marketing & Communications

Edward Downing, MA (Journalism)

Director of Education & Student Services

W. D. (Bill) Johnson,FCIS, P.Adm., FCGA

Director of Corporate AffairsJuliana Laing, BA

Director of Public Practice Services & Public Practice Advisor

Tina Peters, BA, CGA

Director of Member ServicesPamela Skinner, BSc, CFP, CGA

OutlookStaffManaging Editor

Edward Downing (604) 730-6208

Communication OfficerDavid Ferman(604) 730-6206

Production Co-ordinatorTrevor Hargreaves(604) 730-6226

Graphic DesignCore Associates Communication Design Inc.

ContributorsBrigitte Ilk, CGAEd Kroft, LLB, LLM, CGA (Hon.)Pardeep ClairGabriel VitusMatt Noel

Making Outlook Relevant forour Readers

By Edward Downing

editor’s message

2

Two years ago, we conducted a readership survey and asked the membership what they want-ed in Outlook. Many of you wrote back and said that you wanted coverage on professionalissues that will help you in your careers and businesses. Well, we’ve responded. We introduced our annual accounting software review by software guruAlan Salmon. We’ve introduced cover stories on ethics and have prepared for InternationalFinancial Reporting Standards, or I-Fers as it is now colloquially known.In this issue we’ve taken a departure and have included a special feature on managing the lifeand work balance. You’ll also find a feature written exclusively for us by Gundi Jeffrey andanother piece on how CGA students manage their studies within the responsibilities of workand home. You’ll also see expanded columns in addition to the ever-popular Ed Kroft and TechView’sGabriel Vitus. We have a piece on improving your memory and the benefits of the new tax-freesavings account introduced in the latest federal budget. Of course, we have continued cover-age of the 100th anniversary celebrations including our new ‘Ultimate CGA’ competition. Allyou need to do is take a photograph or video of how you celebrate being a CGA and send itto us. It could be something you do to promote your designation at work or at play. It’s theperfect way to show your CGA pride.Remember, Outlook is your magazine. If there’s something you’d like to read about or have anopinion on, drop me an e-mail or voice message. We’re listening and ready to implement yourgreat ideas.

Happy 100th.

Edward Downing is CGA-BC’s Director of Communicationsedowning@cga-bc.org

ou

tl

oo

k

le

tt

er

s

3

letters to the editor

Here’s to Another 100!Happy 100th birthday, CGA-Canada! Ihave always been, and remain, extremelyproud to be a part of such an incredibleassociation. Here in B.C. we are especiallyfortunate to have received our full auditingrights making us a competitive force to reck-on with. My personal thanks to FCGAMary Pattison, a former B.C. CGA presi-dent who with her gentle "push" told me toalways strive for the highest level possible inwhatever endeavour I pursue. We all knowthat CGA is recognized for its high stan-dards in education, training and ethics. Toall my fellow members and students...keepthe tradition going strong another 100years.

Hon. Ida Chong, FCGA Minister of Community Services and Minister Responsible for Seniors' andWomen's IssuesVictoria B.C.

A Force to be Reckoned WithI joined the CGA program in the early 1960'sand began an active participation in Associa-tion affairs at the Chapter level. This gave methe opportunity to meet many of the peoplewho contributed greatly to the creation ofwhat we see today. People like CurryMcCalpin, Les Linnitt, Bill Mann, Bill Tapp,Lew Battrum, Bert Martin and Jim Macbethall contributed in many ways to the strengththat CGA shows today. As my involvementwith CGA eventually took me through theChairmanship of CGA-BC and CGA-Cana-da and onto the International Federation ofAccountants, I met many people who helpedbuild CGA all across Canada. It is alwaystricky to name people without forgetting oth-ers, but I think we all owe a great deal to indi-viduals like Len Hampson of CGA-Manito-ba, Allan Savidant of CGA-PEI and GerryMcKinnon of CGA-BC. A centennial is atime for reflection and thanks to those whohave paved the way for all of us.

Brian Adams, FCGA Fort Steele B.C. Life Member of CGA-BC, Member of CGA-Alberta, CGA-Manitoba and CGA-NWT

Patience is a VirtueMany years ago when I made my first tenta-tive approach to CGA BC, I was helped by avery patient and friendly guy by the name ofBill Caulfield. Bill made me feel welcome andwas never too busy to answer my questions.My "CGA" designation has opened manydoors for me; thank you Bill and the wholeCGA team!!

Jim Burkinshaw, CGA Abbotsford B.C.

Skillful LeadershipIn B.C. we owe very special thanks to BillCaulfield who has steered CGA-BC soskillfully over so many years. He hasgiven us stability, leadership, a sense ofpurpose, outstanding support to ourmembership, and through this, has fur-thered the development of CGA inCanada.

Jason Austin, CGA Victoria B.C.

The following letters to the Editor are from our online Centennial guest book. Make sure to visit www.cga-bc.org and add your own congratulatory message. Just click on the fireworks.

C

M

Y

CM

MY

CY

CMY

K

Have an opinion on something you’ve read about in Outlook or CGA Update?

Outlook is now printing letters to the editor.But don’t feel constrained by snail mail: you can e-mail your “letter” toedowning@cga-bc.org or even leave a voicemail at (604) 730-6208.

ou

tl

oo

k

vie

ws

4

T he Income Tax Act (“the Act”) con-tains various provisions that enti-tle the Canada Revenue Agency

(“CRA”) to request documents and infor-mation from taxpayers as well as from thirdparties. These provisions are found in sec-tions 231.1 to 231.7 of the Act. In mostroutine tax audits, tax auditors obtain doc-uments and information under Section231.1. However, when documents arerequested from third parties or from tax-payers who may not willingly provide thedocuments or information, CRA auditorsresort to the use of “Requirement Letters”permitted by sections 231.2 and 231.6 ofthe Act. Recently there have been a number of casesinvolving the use of requirements by theCRA in which the courts have upheld theexercise of this power. One case thatreceived a lot of publicity involved eBayCanada (“eBay”). eBay was not happy withthe CRA’s demand to produce records anddocuments about its Canadian customersunder its “Power Sellers” program. TheCRA is interested in determining whetherthese Power Sellers have reported incomewith respect to their sales transactionsthrough eBay. eBay challenged the agency’sability to obtain information about Cana-dian residents, when such information waslocated in a foreign jurisdiction and ownedby a related entity outside Canada. eBayalso argued that the CRA was not con-ducting a genuine and serious enquiry inauditing the group identified as Power Sell-ers. On the first count, the Federal Courtof Canada determined that the CRA wasentitled to obtain information on comput-er servers located outside of Canadabecause eBay had access to such informa-tion in the course of conducting its busi-ness within Canada. As for the point

regarding the “genuine and seriousenquiry,” the Federal Court of Canadareserved its decision, pending a decision ofthe Federal Court of Appeal in the GreaterMontreal Real Estate Board case. In Greater Montreal Real Estate Board, thetaxpayer was a non-profit organizationwhose mission was to promote and protectits members’ professional and businessinterests and represented about 71 per centof the real estate agents and brokers inQuebec. The CRA embarked on a projectin 2004 to audit real estate agents and bro-kers living or having their place of businesswithin the territory. The CRA was con-cerned that the real estate agents or brokerswere not reporting commissions receivedfrom the sale of properties. The CRAobtained a court order requiring theGreater Montreal Real Estate Board to pro-vide a list containing the names and otherdetailed information about its membersand a list of properties sold by these agents. In this case, the Greater Montreal RealEstate Board challenged the court orderobtained by the CRA on the basis that themembers whom the CRA was attemptingto audit were not identifiable or ascertain-able. Second, the taxpayer argued thatthere was no genuine and serious enquiryby the CRA pertaining to the group whichwas allegedly being audited by the CRA.The Federal Court of Appeal rejected thetaxpayer’s arguments on both counts and,in particular, argued that the text of Sec-tion 231.2 had been amended such thatParliament was now permitted to conducta “fishing expedition” so long as the CRAobtained a court order permitting it to do

so. The Federal Court of Appeal rejectedthe taxpayer’s argument that an “audit proj-ect” is not an “audit” and minimized theimpact of earlier case law such as Richard-son and Canadian Imperial Bank of Com-merce which had put some restraints on theCRAs’ ability to conduct a “fishing expedi-tion.” The Greater Montreal Real EstateBoard sought leave to appeal to theSupreme Court of Canada but the SupremeCourt of Canada declined to hear its case.Once eBay received word that GreaterMontreal Real Estate Board had been decid-ed to its detriment, it was faced with therequirement to provide the informationdemanded by the CRA. However, eBayappealed the decision of the Federal Courtof Canada and asked the Federal Court ofAppeal to stay its obligation to provide doc-umentation to the CRA pursuant to therequirement until after the conclusion of itsappeal. The Federal Court of Appealrefused to do so and the information wasprovided by eBay and is available to be usedby the CRA in the course of its audit pend-ing a conclusion to the contrary by the Fed-eral Court of Appeal in the course of deter-mining the merits of the eBay appeal. The preceding two cases deal with require-ment powers under Section 231.2. UnderSection 231.7 of the Act the CRA can com-pel performance of a taxpayer’s obligationthrough a compliance order, or may prose-cute a taxpayer under Section 238 of theAct for failure to comply with the require-ment. Furthermore, the CRA may concur-rently issue a requirement letter compellingthe provision of foreign-based informationunder Section 231.6 of the Act. Failure tocomply with Section 231.6 prohibits thetaxpayer from using the documents not dis-closed in any subsequent court proceedingto advance its case. Defences may be available to taxpayersfaced with the receipt of CRA requirementletters. Documents and information mustbe relevant and must be sought for the pur-

The CRA’s Demand for Documents and Information

By Ed Kroft, LLB, LLM, CGA (Hon.)

Courts support use of ‘requirement’ letters.

Ta x M a t t e r s

Ed Kroft, LLB, LLM, CGA (Hon.), is a partner in the Vancouver offices of McCarthy Tétrault,Barristers and Solicitors, which has more than 40 tax lawyers across Canada. His practice is limited to taxation.

Continued on page 7

ou

tl

oo

k

vie

ws

5

Te c h V i ew

One of the major turning points inthe history of humanity was theinvention of the printing press.

From that moment millions of people hadaccess to knowledge at a fraction of the cost.The printing of books spread like wildfireand so did knowledge. Knowledge con-tained in books fermented into ideas that ledto major discoveries in science, advances intechnology, and an amazing body of art.Printing gave people the ability to travel intime and distances and listen to stories thathappened many miles away or many yearsago.This new invention also gave people theability to store and transfer knowledge forgenerations to come. The new body ofpaper-based knowledge was conducive toopening collaboration and debate. The out-come could be printed, thus the body ofknowledge would grow exponentially. Thewhole phenomenon led to greater levels ofliteracy, which in itself was conducive tocreating more knowledge. Paper-basedknowledge was pervasive: authors and edi-tors created it; it was made available byprinters; it was classified and stored bylibrarians and scientists; and everybodyresearched it.The World Wide Web appeared in thebeginning of the 1990s. One of its func-tions was the ability to create, store andpublish knowledge. Still mostly unidirec-tional and following the known path of theprinted medium, the Web-based knowl-edge became increasingly popular as thecost of Internet connection dropped expo-nentially. Until recently, it followed thesame scenario as paper-based media butwith a slight difference.Indeed, printing press technologies hadchanged a lot since Gutenberg. The pressesare faster, contain colour and can print pho-

tos and other graphics. However, they stillcreate the same unidirectional static medi-um for knowledge. The medium is unidi-rectional because the direction of the knowl-edge is transferred from the author to thereader. Collaboration takes place eitherbefore or after publishing. The medium isstatic, because while you are reading a book,you have no ability to interact in the sametime with the author or other interestedstakeholders. Any interaction that takesplace is using a different parallel mediumsuch as verbal discussions, letter exchanges,phone calls, e-mails, discussion groups, etc. Sometimes called Web 1.0, the World WideWeb in its first stages was a more technolog-ically advanced electronic printed book withthe ability to retain information. However,the World Wide Web and the developmentof related technologies not only enhancedthe efficiency, the ability to have volumes ofknowledge, or the appearance, it also pro-vided the body of knowledge with funda-mental functionality that will reshape theway we are creating, accessing, updating,classifying, distributing and archivingknowledge.One of the fundamental abilities for humanbeings is the ability to communicate. Com-munication allows us to collaborate inachieving various objectives in which we, asindividuals, are less prepared. It also gives usthe ability to create and manage relation-ships. Relationships are a very importantpart of social life and the multitude of rela-tionships we have in our life can be groupedin various social networks. Social network-ing is not a new phenomenon and the use ofsocial networks to create knowledge has

existed since the beginning of time. Cur-rently, the sustained development of Inter-net technologies provides the ability to cre-ate and maintain multilateral, multidirec-tional, dynamic bodies of knowledge in anintegrated environment.The first step that improved the ability tomanage knowledge on the Web was the useof search engines. Search engines haveevolved tremendously and have the ability topresent the user, in a matter of seconds, withresults based on complex queries that usecomplicated mathematical algorithms. Thesame work done on a single, decent-sizedlibrary would have probably taken a fewdays. But what if we had to search the wholebody of printed knowledge?In addition, the development and the wide-spread use of other Web-based technologiessuch as chat, messaging, e-mail, video shar-ing, photo sharing, wikis, and blogs has cre-ated a readily available platform to integratecollaborative social networking in the bodyof knowledge.This leads us to the next step in the evolu-tion of the World Wide Web, which iscalled Web 2.0. Tim O’Reilly at the Web2.0 Conference coined the term in 2004.According to Wikipedia – another productof the Web 2.0, in essence, “is a trend in theuse of World Wide Web technology andWeb design that aims to facilitate creativity,information sharing, and, most notably,collaboration among users. These conceptshave led to the development and evolutionof web-based communities and hosted serv-ices, such as social-networking sites, wikis,blogs and folksonomies.”Some of the technologies are older, but someof the newest ones open the door to the mul-tidirectional dynamic creation of knowledgethrough collaboration. Wikis bring the abil-ity to create collaborative Web pages; theyare also the foundation for Wikipedia. Blogsor online logs create a variety of onlineknowledge, from personal diaries to inde-pendent news reports. Folksonomies provide

Life after the World Wide Web

By Gabriel Vitus, MSc, PEng (SA)

Web 2.0 opens up the potential for greater collaboration.

Gabriel Vitus, MSc, PEng (SA) has been working in the IT industry since 1986. He is the Direc-tor of IT at CGA-Canada and he is a member of the national board of the CIO Association ofCanada and member of many professional organizations such as IEEE, SAIEE and ECSA.

Continued on page 7

ou

tl

oo

k

vie

ws

6

I n D e p t h

The government brochure describ-ing the Tax-Free Savings Accountcalls it “the single most important

personal savings vehicle since the introduc-tion of the Registered Retirement SavingsPlan (RRSP).” The TFSA is a new type of registered

account that will be available to all Canadi-ans 18 years of age and older. Beginning in2009, amounts of up to $5,000 ($10,000per couple) can be contributed annually tothis account, where income and capitalgains earned will grow tax-free. All with-drawals from the TFSA will be received tax-free, and unused contribution room will beavailable for carry forward in future years.Additionally, when amounts are with-drawn, the carry forward contribution

room will be increased by the amount ofthe withdrawal. The TFSA is a much more flexible savingsvehicle for Canadians than an RRSP. ManyCanadians are likely to have multiplespending needs at various stages of theirlives, whether it is buying a car or purchas-

ing a new home. Sinceamounts are not taxedupon withdrawal,unlike the RRSP,Canadians can nowtake this money out asneeded without beingpenalized. (Withdraw-ing funds from anRRSP can have seriousconsequences on anindividual’s or family’ssavings for futuregoals, as RRSP roomwill be less likely usedfor non-retirementneeds.) In addition,the TFSA will provideseniors over the age of71 the only tax shel-tered savings vehicle towhich they can con-

tribute. This feature will help them save tomeet any future expenditures.

To illustrate the power of this program, let’slook at an example of how it can be used.Let’s say you are a young professional, age30, and in the top tax bracket; you wish topurchase a vacation cabin prior to retire-ment. If you were to use your non-regis-tered account to invest, and you saved$5,000 per year, and it grew with an eightper cent rate of return, this would yield youapproximately $172,084 at the end of 20years.*The other option is to use your RRSP. TheRRSP will shelter the earnings in theaccount from taxes until withdrawal. Wealso have to account for the tax deductibil-ity of the RRSP contributions. The bestcase scenario is that you can deduct $5,000from your taxes every year, and reinvest theproceeds at the same rate. Adding the pro-ceeds to the $5,000 investment, you’re con-tributing $7,185 per year. Earning an eight per cent rate of return, theresult is an accrued amount of $328,800after 20 years. Since you will be taxed in thetop bracket upon withdrawal, this leaves$185,114. Assuming the same rate ofreturn, if you put away $5,000 every year ina TFSA, after 20 years, you will have saved$228,810 that you can access free of tax.This is clearly the best tool for saving forpre-retirement spending. (Keep in mindthat the future values used in this exampleare real numbers. The annual contributionlimit for the TFSA will be indexed to theConsumer Price Index, rounded to thenearest $500. For example, with a three percent rate of inflation, the first increase to$5,500 would occur in 2011.) As you cansee, the TFSA is a fantastic tool that profes-sionals, such as CGAs and investment advi-sors, can use to help their clients with taxplanning and investing.Qualified investments will be the same as

New Tax-Free Savings Account Yields Better Returns

By Matt Noel, BA, FMA

Doing the math shows that TFSA has the edge.

Matt has an extensive background in the investment industry. He holds a B.A. (Economics)from Simon Fraser University, a Chartered Financial Analyst (CFA) Level III Candidate, a Cer-tified Financial Planner (CFP) Candidate, and a Financial Management Advisor (FMA). Priorto joining BMO Nesbitt Burns, Matt worked in wealth management at ScotiaMcleod. Matt spe-cializes in providing investment advisory services to high-net-worth individuals, corporationsand institutions. Matt's services range from investment selection to comprehensive wealth man-agement. You can reach him at matt.noel@nbpcd.com

Continued on page 7

The TFSA is a much more

flexible savings vehicle for

Canadians than an RRSP.

Many Canadians are likely to

have multiple spending

needs at various stages of

their lives, whether it is

buying a car or purchasing

a new home.

poses of administration and enforcement ofthe Act. Documents and information sub-ject to solicitor-client privilege are also notcompellable. Furthermore, there are alsostrict time limits within which documentsor information must be provided and, tothe extent such time limits are not reason-able, the reasonableness of such time limitsmay be challenged in the Federal Court ofCanada.In February 2008, the Supreme Court ofCanada heard a case regarding the scope of

the CRA’s audit powers under Section231.1 of the Act. In Redeemer Foundation,the taxpayer was under audit. In the courseof that audit, the CRA requested informa-tion relating to taxpayers who made dona-tions to the Redeemer Foundation. TheRedeemer Foundation stated that it did nothave to comply with this request because nocourt order was first obtained relating tosuch unnamed persons. The CRA assertedthat no court order was required becauseinformation was being sought in the course

of the audit of the Redeemer Foundationitself and any third-party information couldproperly be obtained in the course of anaudit of the Redeemer Foundation and usedagainst these third parties. A decision ispending from the Supreme Court of Cana-da. It will be interesting to see the extent towhich the CRA is further able to use itsaudit powers to obtain third-party informa-tion under section 231.1 of the Act otherthan by issuing requirement letters undersections 231.2 or 231.6 of the Act.

those considered eligible for RRSPs*, how-ever, a TFSA will be prohibited from hold-ing investments in any entities with whichthe account holder does not deal at arm’slength. Similar to RRSPs, individuals maycontribute to the TFSA of their spouse orcommon-law partner, given that there isavailable contribution room. The attribu-tion rules will not apply to the incomeearned on amounts contributed by onespouse to the other spouse’s TFSA. Also, aswith RRSPs, interest on money borrowedto contribute to a TFSA will not bedeductible for tax purposes. Upon death, the assets of the TFSA may be

contributed to the surviving spouse’saccount without affecting the survivor’sown TFSA contribution room. An individ-ual who becomes a non-resident will bepermitted to maintain the TFSA and all thebenefits therein. For non-residents howev-er, no new contributions will be permittednor will any new contribution roomaccrue. The TFSA is aimed to primarily benefit thelow- and medium-income individuals forseveral reasons. First, the amount one cancontribute is not a function of one’sincome. Everyone is entitled to their$5,000 of room per year, even if their

income is very low. Secondly, paymentsreceived from the TFSA will not affect eli-gibility for federal income-tested benefitsand credits, such as the Age Credit, OldAge Security, Guaranteed Income Supple-ment benefits, Canada Child Tax Benefit,and the GST credit. The TFSA is a progressive step in helpingCanadians plan their futures and achievetheir financial goals. *The tax rate is computed based on abalanced portfolio of 50 per cent fixedincome and 50 per cent equity. The taxrate on this portfolio is: (43.7 per cent +43.7 per cent/2)/2 = 32.78 per cent.

TaxMatters, continued from page 4

InDepth, continued from page 4

the ability to collectively create subjectindexing and tagging, thus enabling the cre-ation of collaborative taxonomies.Web 2.0 based Websites and portals havethe ability to provide a rich collaborativeexperience to the users increasing the con-tained knowledge and end-user experience.Some examples of Web 2.0 sites are,Wikipedia, eBay, Amazon, Flickr, YouTube,MySpace, del.icio.us, Facebook, Friendster,Second Life, etc.In January 2008, IDC, one of the premierglobal providers of market intelligence, pub-lished the results of a study that “showedthat almost 50 per cent of [Asian] companiesview second-generation Internet applica-tions as a significant business opportunity.”

IDC began conducting the survey amongmedium and large enterprises in December2007 and among consumers in January2008. The enterprise component included80 phone-based questions with 220 compa-nies across six Asian markets (Australia,China, Hong Kong, India, Korea and Singa-pore). The consumer component includedmore than 100 Web-based questions, with783 respondents across seven markets (Aus-tralia, China, Hong Kong, India, Korea,Singapore and Taiwan). It is obvious thatmore companies see the benefit in usingWeb 2.0 in their business. As many of us begin to understand the ben-efits of the Web 2.0, technologists, journal-ists and futurists are all hypothesizing what

will be the main features of the next tech-nological step, Web 3.0. According to some,the concept of the Semantic Web willemerge, which is just another step towardsartificial intelligence. The Semantic Web isthe concept of creating information so thatit is understood by computers. In this casecomputers will be able to analyze enormousamounts of information in order to do mostof the tedious work when a human beingperforms a semantic search.It took us centuries to invent the printingpress, decades to create the World Wide Weband only a few years to discover the Web 2.0.Technology is helping us like never before tomanage and share knowledge.We have reached the age of collaboration.

TechView, continued from page 5

ou

tl

oo

k

vie

ws

7

ou

tl

oo

k

vie

ws

8

Suite 11001177 West Hastings StreetVancouver, BC, V6E 4T5Telephone: 604.687.4544Facsimile: 604.687.4577www.bmmvaluations.com

Blair Mackay Mynett Valuations Inc.

is the leading independent business

valuation and litigation support practice

in British Columbia. Our practice focus

is on business valuations, mergers

and acquisitions, economic loss claims,

forensic accounting and other litigation

accounting matters. We can be part

of your team, providing you with the

experience your clients require.

Left to Right:Farida Sukhia, Chris Halsey-Brandt, Ron Parks,

Spencer Cotton, Rosanne Terhart, Robert D. Mackay, Gary M. W. Mynett, Hugh G. Livingstone, Cheryl Shearer,

Jeff P. Matthews, Kiu Ghanavizchian, Vern Blai r.

Pe r i s c o p e

R emember when you were a childand you remembered everythingyour parents promised, like that

new bike or a trip to the zoo? Rememberwhen your parents said they could notremember their promise and you must havebeen mistaken? It happens that parents doforget and their memories are not as crystalclear as a child’s. At some point in life,everyone will have a problem with his or hermemory.As each day unfolds, we are challenged toremember a multitude of things, such asphone numbers, driving directions, names,

tasks, and moment-to-moment requests. So,why do we forget and what can we do aboutit, especially if our once perfect memory hasnow become faulty and unpredictable? Let’s start off by understanding what amemory actually is. There are two types weuse daily: short-term memory and long-term memory. Both of these are importantfor our everyday functioning. We learn newinformation (a name, a date, directions, allthings) with the use of short-term memory.That’s why it’s hard to remember a person’sname when we’ve just been introduced. Ifwe want to remember his or her name, we

must mentally practice it, by saying it outloud or spelling it out, writing it down andrepeating it. People who have remarkablememories for names, dates, events and so onare no more talented than you or me. Thedifference with these people’s memories isthey have spent time practising and takingsteps to encode and move this informationfrom short-term to long- term memory. Long-term memory is what we need tosurvive and function. It allows us to gothrough our day almost effortlessly whenwe brush our teeth, comb our hair and eatour breakfast. What happens when we for-get how to do something? Unless we canfind something to associate with newinformation, like my mother’s name isJane, and then encode it into our long-term memory banks, we forget. Forgettingis called “decay.” In other words, the mem-ory literally starts to fall apart. A name may

Need a Memory Boost?

By Dr. Nancy D. O’Reilly, Clinical Psychologist

How to upgrade your brain power.

ou

tl

oo

k

vie

ws

9

start as Jane, but without practice or encod-ing it starts to decay and becomes maybe“Ja” or is gone completely. To recall thisinformation takes the action of makingmemory a task and a function to execute. We also learn information in what arecalled “chunks” of memory. If we takelearning a new action in pieces and learnone piece at a time, we can put them alltogether and repeat the action. For exam-ple, when we learn a song word by word,sentence by sentence, and put meaninginto the lyrics to make chunks of informa-tion that flow together, then we form acomplete memory. All forms of memory are affected by sever-al factors. Stress is a big destroyer of mem-ory chunks and affects every aspect of ourperformance. Have you ever noticed whenyou are overwhelmed and someone asks foryour telephone number and you cannotremember it? Stress and illness can affectbrain functioning causing constriction ofblood flow. Good memory occurs when theflow of healthy oxygen nourishes the brainand creates overall health and well-being.When we feel rushed and pushed by timeconstraints, our performance ability toremember is affected. Retention is the ability to maintain infor-mation and to retrieve it. Retrieval is thebrain’s ability to absorb information and tostore it for later use. To understand thisprocess, visualize a mountain of words andinformation. Each day we are confrontedwith new information and asked to sortthrough it and remember it. We pile newinformation on top of old information andwe keep piling it on until we want to accesssome older memories, which are solidifiedin our long-term memory. Practice is alsoinvolved with retrieving information that islayered down in our conscious memory. Memory is also affected by trauma and anytragedy we may have experienced. Weknow that a person who has been in a seri-ous accident or has been a victim of crimemay experience memory difficulties. Timeand healing often must take place for mem-ories to be accessed and for the impairedperson to remember information moreaccurately. People who have hidden danger-ous or invasive memories may need assis-

tance to deal with these. A victim of a seri-ous crime or attack may experience what iscalled a post-traumatic episode, wherememories may appear to be so real that theperson is re-living the horrendous eventover and over again. Treatments are avail-able to help these people understand andheal from their life-changing events andreturn to normal func-tioning.Fortunately, with goodhealth and exercise,reduced stress levelsand mental challenges,you can retain yourmemory and evenboost your brainpow-er! Here are some help-ful hints:1. Memories begin as

short-term memo-ries and when theyare encoded andpracticed, they areplaced in the long-term memorybanks. The memoryprocess occurs aschunks of memory are placed in storagefor retrieval at a later time, so practicestoring and retrieving information youwant for later use. Memory chunks needto time to solidify and this is accom-plished with practice, repetition andmaking memory a conscious action.

2. Memory can be impaired by illness, acci-dents, trauma, stress and time limits.Obviously, it is important to do whatyou can to protect yourself from seriousinjury, such as wearing the right gearwhen involved with sports or recreation-al activities, and reducing stress whenyou can by cutting out unhealthy habits,situations and even relationships.

3. You can help improve your memorywith practice and preparation to learnnew material. It is also important, whenretrieving materials that were learnedpreviously, to store them in chunks. Forexample, when children learn to playthe piano, they are asked to learn the

piano keys by memorizing sentences,which explain the names of each key.This is also called “situational memory.”An example of situational memory ismemory chunks that are formed in thesame place, in the same situation andthe same environment. By recreating thesame learning conditions and having thesame frame of mind, health, attentionand focus, a person is more likely toremember the information and havebetter retention.

4. Use your brain and keep it pumped up.Having good blood flow to the brain

Nancy D. O’Reilly, PsyD, is a clinical psychologist, researcher and founder of the online resourceWomenSpeak.com, based on a decade of research. A member of the American Psychological Associa-tion with more than 25 years of experience, Dr. O’Reilly counsels clients on topics ranging from men-tal health and stress to relationships and careers. She is the author of the forthcoming, TimelessWomen Speak about Feeling Youthful at any Age, and hosts a radio program on Voice America,called “Timeless WomenSpeak.” For more information, visit her Website: www.womenspeak.com orcall: (417) 886-7061.

Stress is a big destroyer of

memory chunks and affects

every aspect of our

performance. Have you

ever noticed when you are

overwhelmed and someone

asks for your telephone

number and you cannot

remember it?

Continued on page 11

ou

tl

oo

k

fe

at

ur

e

10

CGA-BC’s recruitment campaign ‘GetReady to Take on the World’ has taken ongreater significance with the announcementthat Canada’s CGAs and CPA Australia havesigned a Mutual Recognition Agreement(MRA).The MRA identifies areas for joint initia-tives, including research and advocacy, andgives members enhanced internationalmobility.According to CPA Australia President AlexMalley, the new partnership highlights theincreasingly global nature of the accountingprofession.“Opportunities for accountants are nolonger constrained by national borders,” Mr.Malley says. “We believe that partnershipswith influential accounting bodies, such as CGA-Canada, allow usto strengthen our position through knowledge-sharing and collabo-ration, which benefits our members and the profession.”Ron Colucci, Chair of CGA-Canada’s board of directors, notes thatthe alliance offers significant benefits to members, notably thosewho work internationally or for multinational firms. It will also raise

the profile of both designations.“This agreement will substantially increasethe global reach of both of our organiza-tions,” Mr. Colucci said. “CGA-Canada hasa long and proud history of delivering out-standing value to its members and advancingthe profession internationally. Along withour distinguished new partner, CPA Aus-tralia, we can accomplish even more on theworld stage.”CGA-Canada members can apply to becomemembers of CPA Australia if they have: • Not become a CGA by virtue of another

MRA; • Remained members in good standing; • Three years of work experience; and • Completed the following CPA Australia

courses: Corporate Governance and Accountability, and BusinessStrategy and Leadership.

For more details, visit the member section of cga-bc.org and click on“ACCA/CPA.” The agreement follows on the heels of a similar MRAwith the ACCA of the UK.

CPA Australia is the world’s seventhlargest accounting body, representingmore than 117,000 finance, accountingand business professionals located pre-dominantly in Australia, Asia andEurope. Currently, its members work in98 countries, and are serviced by aninternational network of 18 offices.

ABOUT CPA AUSTRALIA

CGA EXPANDS

Global Reach

Representing London Life Insurance Company, Manulife Financial and a range of financial companies

occurs with regular exercise, a healthydiet and reduced stress levels, which allhelp to ensure we have good memory.See your doctor regularly for check-ups.Look for foods that are rich in vitamins,and low in sugar and caffeine. Your brainis like a “muscle,” and it therefore needsgood food, exercise and new informationdaily to keep it fresh and ready to learn.Involvement with art and music havebeen shown to help brain function andimprove blood flow. Fish oils and foodshigh in vitamin B will help reduce stressand improve memory.

5. Practice makes perfect! We’ve all beentold this, especially when we’re learning anew skill. Go out and practise whateverit is you want to remember; a language,a task, or information you want to useon the job. We can practise any action inour minds and later execute it withamazing results. Also look for new hob-bies and experiences that will help your

brain get “exercise.” These can be as sim-ple as crossword puzzles and memorygames, or more physical such as learninghow to cook gourmet food or trying tosnowboard.

6. Memory is impor-tant for all of us,especially as wegrow older. Toretain the memoryfunctions that wehave, we must tryto stay active,social and look forthe plethora ofbooks, games andwebsites that canimprove or help retain memory func-tion. Keep learning new things on a dailybasis, and challenge your memory. Justlike any other muscle, the brain must beexercised regularly to ensure its health.

More people are experiencing memory

problems due to poor health conditions.Make sure to get regular check-ups, eatright and reduce your stress levels. We allfear not being able to care for ourselves and

can stay healthy with simple steps – themost important one being vigilant aboutour own healthcare. Make today the dayyou put together your plan for a brainworkout, which will create for you a mem-ory that others will envy.

Periscope, continued from page 9

Your brain is a muscle,

therefore it needs good food,

exercise and new information

daily to keep it fresh and

ready to learn.

ou

tl

oo

k

vie

ws

11

ou

tl

oo

k

co

ve

r

10

ou

tl

oo

k

et

hic

s i

n f

oc

us

12

Editor’s Note: This issue’s ethical dilemma is not available. Watch for it when it returns in the September issue of Outlook.

CGAs’ highly regarded financial advisory skills make them popularcandidates for performing assurance services, and for positions oncorporate boards. But before you agree to any new position, makesure you practise due diligence to protect yourself as thoroughly asyou would your clients or employers. Much of this advice originates with the safeguards public practi-tioners take as a matter of course with new engagements, but itapplies equally to those accepting positions with new employers(including those via merger or takeover), new clients, and anydirector and officer positions with boards.In all cases, the due diligence boils down to two basic rules. First,know with whom you are dealing – the organization, its opera-tions, key personnel, and people of influence – before you sign up.Second, remember to monitor these players after you becomeinvolved with the organization.

Look Before You LeapThe time to ask the hard questions is before you accept the position.Meet management and the board in small groups and individuallyand ask the tough questions:• What can you tell me about the people in charge? • What are the low points in the company’s history, and what did

they stem from? How have those issues been addressed to pre-vent a reoccurrence?

• What are the future plans of those in charge? Is there full agree-ment with those plans?

If you sense incomplete answers, reluctance, evasion or conflictingstories from different sources, beware.Public practitioners should ask management why they are nolonger with their previous auditors/accountants, and then ask theprevious auditors/accountants if there is a professional reason notto accept the engagement.Next, turn to outside sources for information.1. Check that those involved with the company are authorized by

and are in good standing with the relevant securities commis-sions. You should be checking the directors’ and officers’ per-sonal information files at the securities commissions (e.g., BCSecurities Commission and Ontario Securities Commission).Don’t accept anything less than a snow-white reputation,because you will be attaching your good name and designationto their repute.

2. Check the records of professional organizations to which keypersonnel belong. Law societies, accounting organizations, col-

leges of physicians, and others bodies have publicly accessiblerecords of misconduct.

3. Search the Internet for articles on the organization, its manage-ment and board, and any joint partnerships they have beeninvolved with.

Practitioners and New ClientsSince December 2005, public practitioners have had to followclient acceptance and retention policies as per the General Stan-dards of Quality Control for Firms Performing Assurance Engage-ments, part of the Assurance section of the CICA Handbook.Even if you aren’t providing review engagement or audit services, aclient acceptance and retention policy is smart because it will giveyou and your prospective clients assurance that you deal only withreputable clients.The client acceptance and retention policy is your way of measur-ing the risks of any engagement. Naturally, every firm has its owntolerance for risk; however, some general factors are universal con-siderations:• What is the nature of the client’s operations? Profile the client’s

business practices. • What is the client’s reputation for integrity and business ethics?

Consider management, directors, partners and those who pro-mote the company’s securities and other holdings.

• What is the attitude to internal controls? Does what the clientsays it does diverge from its commitment?

• Are there any conflicts of interest or independence issues? • Are there sufficient resources and staff in place to complete the

engagement?

The Need for Ongoing Client EvaluationsTo stay on the safe side of your “balance sheet of risk,” rememberto revisit your client list at regular intervals. With each client, runthrough a checklist as you would for client acceptance. Since thelast review, has there been a change in senior management, in newpartnerships or joint ventures? Is there a new key shareholder?What is their track record like?When a client scores below a preset score, it’s time to decide if therisk of continued dealings with the client falls outside your tolerance.Remember, you owe it to yourself, your family, your employees, your otherlong-term clients, and your profession to consider firing the client.Your client accounts may change for other reasons, such as acquir-ing a practice, buying a block of accounts, or if ownership of your

In Your Best Interest:Due Diligence for CGAs and CGA Students

in focus

ou

tl

oo

k

co

ve

r

11

ou

tl

oo

k

13

firm changes through a merger or takeover.Just because you inherit these accounts doesn’t mean you shouldkeep them. Has the previous practitioner done due diligence on allthe accounts lately? Are their standards up to the acknowledgedstandards of the profession?Do your own due diligence. Don’t be afraid to talk about theseissues, even if the party that passed on the accounts considers thetransfer complete.

Minimize the Risk of DirectorshipsBeing invited to sit on a board of directors is flattering, but it posesrisks nonetheless.In fact, in recent years the risks of serving as a director on a corpo-rate, or even a not-for-profit, board have risen sharply. The pre-cautions you take when considering a directorship need to be justas stringent as those you take when signing on with new clients.Again, research the organization, its key management, and theboard of directors. In the case of public company directorships,knowledge of the industry in which it operates is crucial. Just howtransparent are its operations and financials? Today’s investorsdemand extremely high levels of accountability (and liability) fromtheir directors and officers; and they may well possess the right ofaction for damages against anyone responsible for materially inac-curate, misleading or incomplete disclosure.Before accepting a board position, be sure to interview manage-ment and the board, and use the client acceptance researchapproach that practitioners use. Ask them about:• Financial risks and financial statements.• Competence, experience and reputation of the other board members. • Structure of the board and how it keeps its independence from

management. Having a CEO or president act as chairman of theboard can be a red flag.

• Management’s approach to accounting standards and internalcontrols.

• Liability insurance. Does the company fully cover directors andofficers?

The Not-for-Profit Board is not without RiskThe not-for-profit board appointment is an honour, especiallywhen the organization has a high public profile, a strong history fordoing good work, or boasts leading citizens on its board.All the same, hidden, and even minor conflicts of interest and gov-ernance gaps on not-for-profit boards can result in embarrassmentor worse. Many of these situations can damage board members’reputations and credibility.• Are you fully aware of the duty of care, obedience and loyalty

you will be subject to?

• Did you review the board’s “packet”? It should contain bylaws,a description of committees and functions and information onthe charter. You need to fully digest the packet before decidingwhether to join. No packet? That’s a red flag.

• Did you review the terms of reference for the board? • How does management carry out its fiduciary responsibilities? If

the executive director or other staff members can override the board,proceed with extreme caution.

• Does management undertake periodic internal audits? It should. • Have you reviewed the entity’s directors and officers liability

insurance? • Have you reviewed past financial statements? • Have you gone over the past minutes of the board and of the

finance and administrative committees, if applicable? • Whistleblowing. There should be a confidential way to raise and

discuss management indiscretion, procedural problems and so on. • Are there conflict of interest guidelines? You need to know very

specifically what constitutes a conflict of interest so you canmonitor and have a say over other board members’ activities andmake judgments about your own.

• What’s the attitude at the top of the board? Too much focus onconnections and personal networking can preclude your abilityto make good decisions and fulfill the board’s mission.

Before accepting a position with a board, read the CGA-BC poli-cy on Providing Voluntary Services. Here you’ll find several otherguidelines and provisions to help you decide if you should acceptthat director or officer position.Finally, consider if the board is truly a board. Some not-for-profitshonour significant donors with positions on powerless boards.Decide if you want to be part of a board if the real power and tra-ditional board responsibility rests solely with the executive com-mittee.

ConclusionDue diligence requires time and energy, but it’s work that pays offin peace of mind.Consider it a win-win situation. If you discover something thatcompels you to turn down the opportunity, you have protectedyourself from harm; if what you learn assures you to take the posi-tion or client, you’ve gathered insights and information that willonly make you more valuable to the organization. Either way, itjust may be the best time you ever invest.If you have questions about due diligence, whether in regards to pub-lic practice, industry or a board of directors position, please contact theConfidential Advisor, Tina Peters, BA, CGA, Director, Public Prac-tice Services & Public Practice Advisor, at (604) 730-6232 or (800)565-1211 ext 232.

et

hic

s in

fo

cu

s

ou

tl

oo

k

et

hic

s i

n f

oc

us

14

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 20060

50

100

150

200

Number of cases dealt with during the year

2007

NUMBER OF DISCIPLINE CASES REVIEWED SINCE 1994

As a self-regulating organization (SRO), CGA-BC takes its com-mitment to ethics seriously. Part of that commitment is ensur-ing that CGAs and the public understand the disciplinary

processes that are in place to handle ethics and continuing professionaldevelopment (CPD) cases with impartiality and fairness.In 2007, the Association dealt with 125 complaints. Of those, 28were carried forward to 2008. In the remaining 97 cases, disciplinewas assigned in 46 cases, 11 cases resulted in the resignation of themember, 29 cases were withdrawn and eleven cases were dismissed.“In order to understand our ethics and disciplinary results, first youhave to understand SROs,” says CGA-BC’s Manager of Profes-sional Conduct, Jim Timmerman, CGA. “All professionals – likeCGAs, physicians, dentists and many others, belong to their SRO.And under government regulations all SROs must adhere toadministrative law, which includes processes for discipline withregards to breaches of professional conduct,” says Timmerman.“This law, in effect, devolves onto the SROs the ability to policetheir own, subject to the tenets of administrative law. These tenetsinclude fairness and having an impartial adjudicator. The membermust know the case against them.” When a complaint is filed with the Association’s Ethics Commit-tee, an investigator is appointed, and they, along with the Chair ofthe Ethics Committee, make decisions according to the Bylaws.The CGA has the right to refuse that decision, and if so, the issuemoves to the Association’s Discipline Committee. The initial decision is then set aside and a panel of five CGA peersis convened to hear the case. The investigator presents their reportwithout the initial decision, just the evidence. The member canappeal any Discipline Committee decision to the Appeals Com-mittee. The Appeals Committee is the final in-house stage for deci-sions. Any further appeals have to be taken to the courts.

These are the five main categories for discipline, in increasing orderof severity:

Improve conduct/competenceReprimandSuspensionExpulsionBarred from reinstatement

A fine usually accompanies each decision. As of January 1, 2007,all decisions involving a breach of the Association’s Code have beenpublished publicly on our Website.Timmerman explains the reason for the change. “Our memberswant us to be more transparent with our decisions,” he says. “Aswell, the public deserves to have access to this information.” “Decisions often carry an order to pay costs, plus an order toimprove conduct. These instances will result in a summary that isprovided to the complainant and published on the Association’sWebsite, but these summaries do not include the names of offend-ers. Decisions with the four more serious forms of discipline arebeing published with the name of the offender.” As we strive to maintain the highest standards of accountancy,CGA-BC is a flag bearer in codifying and enforcing ethical con-duct. “Our processes are fair, and have been deemed so in thecourts,” says Timmerman. “But we are always striving to improveour standards. The CPD ethics requirements (introduced in June2007 and effective as of January 1, 2008) are part of that improve-ment, as is the publishing of the names of members on our Web-site who are not living up to the CGA-BC standards for profes-sional conduct.” The Association publishes information about our ethics process inregular updates in the CGA Update e-newsletter as well as regularbulletins in Outlook.

BALANCE POSSIBLE FOR THOSE WHO WANT IT

in focus

For more information about the Code of Ethical Principles and Rules of Conduct, contact Jim Timmerman, CGA, Manager, Professional Conduct, at jtimmerman@cga-bc.org

A closer look at ethics cases

ou

tl

oo

k

co

ve

r

15

Changing demographics are putting a stranglehold on Cana-da’s labour force—one that is much stronger than any everexperienced, causing seismic changes in the workplace.

Employers have to do more with less, while employees focusing on

achieving a harmonious work-life balance have more choices thanever in making that goal a reality. CGAs, in particular, are going tobenefit.

“Professionals who are qualified, well skilled and well trained,have good communications skills, are technically sound and havesome work experience will be writing their own ticket,” says San-dra Reder, CPC, managing partner of Vertical Bridge, a Vancouver-based employee recruitment and retention consulting firm.

Generation Y (GenY), which has only recently begun entering

the workforce, has “a strong sense of entitlement,” she explains.

“They expect to get work-life balance. There are so many jobs outthere right now that if an employee is getting burned out and theemployer isn’t doing something to mitigate that, that employee willquit and go somewhere else. What’s more, it’s not only GenY that

wants work-life balance – it’s the baby boomers who are seeing theirkids getting it and they want it too. GenY is influencing other gen-erations’ work-life balance needs. So, it is critical that employers

find ways to make it happen.”

Daunting demographicsWhile skilled employees are in huge demand, the picture foremployers isn’t nearly as rosy. Over the past decade, there has beena 12 per cent decline in people under the age of 10. And, since1971, Canada’s birthrate has been lower than the replacement level.

COVER STORY

BALANCE POSSIBLE FOR THOSE WHO WANT IT

By Gundi Jeffrey

ou

tl

oo

k

co

ve

r

16

COVER STORY

“That is catching up to us,” says David Baxter, executive director

of the Urban Futures Institute in Vancouver. “Not only are thebaby boomers – one of the largest cohorts ever born – retiring,they’re being followed by one of the smallest cohorts ever born.”That is what is causing the labour force to shrink, and the prob-lem won’t be resolved any time soon. “Nowhere in the developed

world are we seeing birthrates go up.” Within three or four years,he adds, “our labour force will start to shrink. Employers are goingto have to put enormous emphasis on increasing productivity.”

“What too many employers are not realizing,” notes Linda

Duxbury, a professor at the Carleton School of Business and anexpert on work-life issues, “is that they are moving into a pro-found sellers’ market for labour. Which means they have to offeremployees more than ever before. Firms that think young people

aren’t going to get what they want really are not facing reality.”Older generations put up with working long hours and put-

ting their jobs ahead of family and fun because there were morepeople than jobs, Duxbury explains. “And what were theirrewards? Alcoholism, divorce, Prozac – and still they could lose

their jobs to restructuring and downsizing.” GenYers refuse to godown that path. “Money isn’t everything to them – what is reallyimportant is having your family and your health. They want to be

paid fairly but money buys only presence, not passion. They aremore attracted by time off work and extra vacation time than by

salary increases.”Reder adds that GenYers also closely look at what employers

offer in terms of training and development, career growth poten-tial, wellness initiatives and work-life balance. “If they work longhours during tax season, they want to know what their employerwill do for them when tax season is over.”

Even when their needs are met, notes Reder, GenY, and the

immediately preceding GenX, are very mobile. “They do not see

a life long career with one company as a possibility. They want thechallenge of change.” And that presents its own challenges toworker-strapped employers – keeping their brightest and best.

Learning from change“When I look back over my resumé, it seems that I am really a

three-year guy,” says Jeff Garrad, CGA, a typical GenX of 40

years of age and chief financial officer of the BC Olympic andParalympic Winter Games Secretariat. His aspirations and careerpath fall exactly into what the three workplace experts havedescribed. “I tend to start in an organization, gain an under-

standing of it, make the improvements and changes I can andthen, once I have done most of what I can do, I begin to look for

new challenges. Typically, that means leaving that organization.To date, my career has covered a broad width of organizationaltypes and industries.”

Garrad is very much engaged by his current job: “the hugevariety of tasks that I am involved in that I didn’t learn about inaccounting school but are providing a great learning experience.”

His employer is also a champion of work-life balance, “providingflexible hours, work options, working actively to reduce stress on

the job, and to build our team through events designed to improveemployee engagement, be it through lunch events, intramuralsports or just taking the time during the day to have some fun atwork.”

But, he adds, as he reaches higher levels, “the demands on mytime are increasing substantially. Our organization constantly hasto adjust our plans and staffing to accommodate an increased

COVER STORY

Older generations put up with working long hours and putting their jobs aheadof family and fun because there were more people than jobs. And what were their rewards? Alcoholism, divorce, Prozac – and still they could lose their jobs.

ou

tl

oo

k

co

ve

r

17

workload, which tends to

work against having a goodbalance. I am now workingmore proactively to set morerealistic deadlines for myself, andto prioritize my time to focus on

the core needs of the organization,and to delegate, or push back onlower priority work.”

Only a few years into the workforce, GenY Allyn Fong,

BCom., CGA, 26, a senior associate in Galloway Botteselle &Company, also in Vancouver, believes his work-life balance “is justabout right.” His first “real” career job has been an “excellent”experience. “I enjoy the people I work with, the clients I work for

and the day-to-day challenges the job brings. I enjoy contributingto the growth of staff, clients and their businesses. The variety of

work is great; everyday there’s always something new to learn.”Fong says although there are times he works more than he

might like, “I am still able to balance myself out by playing a cou-

ple of recreational sports.” The firm, he notes, offers opportunitiesfor work from flex-weeks or working from home, as well as run-ning monthly social events for staff.

Galloway Botteselle isn’t alone. Many of Canada’s accountingfirms have learned that providing better working conditions for

staff leads to better retention rates.

Flexibility is keyDeloitte, one of Canada’s “big 4,” has been ranked a top employ-er on several “Best Employer” lists. CEO Alan MacGibbon attrib-

utes this distinction to the firm’s Talent

Agenda. “We pride ourselves on offeringflexibility that our people can cus-tomize to meet their unique circum-

stances. When balancing work and life,we believe there is no ‘one-size-fits-all’ solution.”

MacGibbon describes Deloitte’s benefits package, includingcore health, supplemental health and dental plans, “as diverse asour employee base and designed to be comprehensive, yet flexi-

ble.”A variety of programs are in place to support the work/life bal-

ance, including: flexible start/finish times, part-time work, job-sharing, teleworking, reduced/variable work hours, compressedwork weeks and firm-wide holiday closures. “For example,”

MacGibbon notes, “in recent years, we have had some womenbecome partners, either while on maternity leave or when work-

ing less than full-time hours.”One of Deloitte’s newest and most popular programs is the

Wellness Subsidy, which reimburses people for services that sup-

port their physical and mental wellness, such as fitness club fees,personal trainers, yoga, pilates or even book club books. The sub-sidy can also be used for home cleaning, snow removal, lawn care

or dog walking.Similarly, Laura Murray, senior manager of national group

benefits at PricewaterhouseCoopers, believes that “work-life flexi-bility issues are important to all our people, including our youngerpopulation. Our wellness and work-life programs are broad andinclusive in nature to ensure that all of our people will find some-thing that resonates with them.”

Murray points out, for example, that PwC has numerous pro-grams to support people in caring and parenting, health and fit-

COVER STORY

ou

tl

oo

k

co

ve

r

18

ness, managing finances and managing time and stress. PwC alsoprovides a flexible work arrangement toolkit “that helps individu-

als consider all the ramifications of a flexible work program. The

toolkit is geared both towards the individual wishing a flexiblework arrangement and to managers to help find creative solutionsto assist their people.”

One of PwC’s unique initiatives is CompassPointTM, an onlinestress survey and stress management tool that analyzes a user’sunique stress profile based on seven different categories of workand home stressors, including work-life balance concerns. Accord-ing to Murray, “the tool then provides action planning, reading

material and access to resources to help individuals better managetheir specific issues.”

PwC is in its sixth year of holding annual wellness weeks,Murray explains. “This year the focus was on showcasing success-

es stories on how individuals integrate wellness into their lives.

This included stories focusing on work-life flexibility.”

Still too much stressNevertheless, says Duxbury, too many employers – especially

accounting and law firms – still don’t get it. Even though theworkplace is undergoing profound change, existing workplacepractices are still largely based on an old industrial model datingback 50 or 60 years. The hours and pace of work are increasing,

not decreasing, and so are stress and burnout. Despite a decade ormore of talk on these issues, she explains, “many employers are not

walking the talk when it comes to recognizing and supporting

work-life balance. People are feeling less – not more – balance intheir lives.”

“Today’s professionals are doing their own work as well as typ-ing, photocopying, couriering, answering the phone – they are

doing everything. Throughout the 80s and 90s, employers

increased shareholder value by getting rid of people but not thework.” They relied more on technology to make lives easier. But,through e-mail, cell phones and other electronic devices, manyworkers are now expected to be available 24/7, making theachievement of a balance between work and the rest of our liveseven more difficult.

“If employers don’t modify their behaviour to adapt to today’sshifting environment,” she warns, “they will go the way of the

dinosaur. If they continue to think that workaholic ways are theright way, they won’t stay competitive.”

Meanwhile, says Baxter, the only certainty is that CGAs gen-erally, and GenY specifically, will have a more diverse work expe-

rience than the baby boomers did. And they will have a lot more

choice. “They won’t feel in boxes so much because they will be ina world where unemployment is low. If they aspire to hard workand long hours seven days a week, they can choose this and be

rewarded for it – but they don’t have to.” He does stress, though,that employees must have something to offer, a skill of economicvalue. “They will have to be aware of the tremendous pressures on

their clients and employers under these labour constraints andcome up with products and services to take some of that pressureoff their shoulders.”

Reder agrees. “There is a large shift in how companies are

managed and how businesses are run. So what CGAs – at everystage of their career – can expect from the workplace and what

they are actually going to get is still in transition.” But one thing

they can be sure of is that, unlike the old Rolling Stones song, theycan always get what they want.

COVER STORY

“If employers don’t modify their behaviour to adapt to today’s shifting environment, they will go the way of the dinosaur. If they continue to think that

workaholic ways are the right way, they won’t stay competitive.”

Gundi Jeffrey, co-founder of the Bottom Line newspaper, is a business journalist who writes extensively on accounting.

W W W . C G A - B C . O R G

• Survey results 22 • Q&A with Cindy James 24 •

3 0 0 - 1 8 6 7 We s t B r o a d w a y

Va n c o u v e r, B C , C a n a d a V 6 J 5 L 4

Te l : ( 6 0 4 ) 7 3 2 - 1 2 1 1

Fa x : ( 6 0 4 ) 7 3 2 - 1 2 5 2

We b s i t e : w w w. c g a - b c . o r g

CGAjobs .orgC G A j o b s . o r g i s B . C . ’ s l a r g e s te m p l o y m e n t s e r v i c e d e v o t e d s o l e l y t o a c c o u n t i n g a n d f i n a n c ep r o f e s s i o n a l s .

T H E C G A - B C S T U D E N T N E W S L E T T E RV O L U M E 3 5 / N O . 2

J U N E 2 0 0 8

A p u b l i c a t i o n o f T h e

C e r t i f i e d G e n e r a l

A c c o u n t a n t s A s s o c i a t i o n

o f B r i t i s h C o l u m b i a

sessions

Summer is coming at last. We all adjust to a new season by shifting our expectations,though we might not call it that. For June, there might be small changes like wearing alighter coat, or we might plan more significant activities in January like taking a vacation ina warmer climate.That’s one kind of seasonality we like to celebrate. And when we enter a new season, we bal-ance things – our outdoor time, our wardrobes, our work commitments – in different ways.What would it look like if we consciously prepared for the changes in work-life balance thatthe seasons of life require?

By Meg WalkerContinued on page 20

Balancing work, life and CGA studies

By Meg Walker

20

sessions

The Cer t i f ied Genera l Accountants Associat ion of Br i t i sh Columbia

Seasons of the earth-turningkindAt least two of the four current or just-fin-ished CGA students I spoke with men-tioned using the literal seasons as a tool toshape their time and energy over a year.Andy Shue juggles the roles of being a stu-dent, a father of two, a spouse, a partialcaretaker for his mother and a senioraccountant at Club Intrawest. He hasbeen with the company for two-and-a-half years, and previously worked in sen-ior levels of accounting in Taiwan withcompanies including FedEx. At fiscal year-end, Andy knows his work-load will be demanding, so he won’t takeany heavy courses. He also lets his familyknow when work or study will consumeweekend time. With only two courses left, Andy’s strate-gy has been to set goals as a family soeveryone is involved. “Daddy’s studying isseen as something that the whole familycan help out with,” he explains. Andy’schildren, aged six and nine, play a sup-portive role in tangible ways such as notasking for the computer during studytimes. He and his wife have decided that“it’s everybody’s responsibility to helpDaddy to accomplish the designation.”After that, “Daddy will have better pay,and Daddy will have more time to spendwith you.”Andy is supportive in return by organiz-ing the family holidays every summer andby telling his kids he values the time hespends with them. Summer becomes thetime for reconfirming their connections,after the busyness of spring accountingduties.The other student who specified summeras a special season is Akil Rehman. Thefreshly minted associate manager ofaccounting (promoted from being a sen-ior accountant in January) works at QLTInc., and has been there for close to two-and-a-half years. Akil, who moved from Kenya to Canadain 2000 with his wife, mother and two

children, started his CGA in 2004 andcompleted the coursework this March. Healso learned to synchronize the heavinessof his courses with the demands of work.He will avoid heavy courses at year-endand he will devote some summer monthsto coursework – but not all. “Everyone’ssummer should include some time off tobe out in the sun,” he advises.Of course, Andy and Akil are using morethan the framework of sun and tempera-ture to guide their work-life balance deci-sions. But that one choice is a simpleexample of how preparing for – and com-municating about – changes in time andavailability can make a shift in focus feelpositive for everyone affected.Lesley-Ann Marriott, a Certified Execu-tive Coach, says a seasonal strategy is“brilliant.” The ability to identify a newphase that will affect you and your familycan adjust expectations. Without thatadjustment, “you continue doing thethings you were doing before you took onthe new thing – ‘I used to go to the gymX times a week, I used to be able to social-ize with my friends in the evening’ – andyou become frustrated at your inability tocontinue those same activities.”

Seasons of life change whatbalance meansWhen Lesley-Ann talks about seasons,she’s also referring to the larger,metaphorical seasons of life. Working andstudying full time, whatever other com-mitments are involved, constitutes a sea-son because it dramatically affects a per-son’s available time and energy.Student Shona Schirok is aware of her lifephases because she didn’t initially intendto become an accountant.The senior accountant with advertisingagency DDB Canada describes workingyears ago at a bar in Calgary. “My manag-er knew I was taking a few accountingcourses,” she said, “and he made me takeit more seriously so that I could do the

paper work for him!” After that, shefinanced a season of traveling throughAustralia and Asia by taking temporaryjobs in accounting. “Before I knew it, Iwas working at Intrawest and in two yearsrose to mid-management,” she laughs.Finding a work-life balance isn’t alwayseasy for Shona. But the challenge of beinga student, girlfriend, fitness expert andhiker keeps her enthused about her busylife and motivated to manage her timewell. “I like the growth opportunity [offered bystudying],” she explains. “I think I wouldbe bored silly without it.” In fact, Shonaplans to continue education when shecompletes her last two courses for theCGA designation. She envisions doing afour-weekend course to become a fitnessinstructor for her favourite classes, spin-ning and aerobics.A former executive in the Food & Sun-dries Purchasing division for CostcoWholesale, Lesley-Ann specialized indeveloping management teams. She nowworks with large corporations and smallindependent businesses helping themfocus on the sustainability of their leader-ship team.One exercise Lesley-Ann uses with herclients is this. Imagine that managingyour life is like juggling balls. Now imag-ine that some of those balls are rubber –and some are crystal. “The ones that arerubber – you can let them fall. You needto know which ones are crystal and willshatter if you let them fall – this can beyour health, family relationships, and soon.” And the nature of a “ball” can changewith a season: when you’re new at a firm,the employer-employee relationship willbe closer to crystal but over time that rela-tionship can become one of trust and flex-ibility, more like rubber.Many students discover this intuitively. In2005, Emily Lin joined the EnterpriseGroup at KPMG LLP as a senior account-ant. With one more year to go on theCGA program, Emily’s story will soundfamiliar to other students.

Continued from page 19

21

BALANCING ACT

“My work life is pretty maxed out interms of overtime and my energy, and thisusually commands my attention duringthe work week,” she says. “This usuallyleaves CGA studying to the weekend,which means it’s my personal life thattakes a beating.” Outside work, Emily is a daughter andcaretaker, a student, girlfriend and friend.There are times when she can’t make it toevents or gatherings. But because she hastaken time to explain her work and studycommitments, those relationships have“bounce” and friends and loved ones aresupportive. “It's just the name of thegame, and everyone in my life knowsthat!” she explains. “Just like busy season[at work], they all know that it's justsomething that has to be done, and is, inthe end, temporary.”Emily also notes that her firm is support-ive when it comes to school. “When it'sexam time, school is number one, andpeople at work know that too. I get a lotof support from work for my studies, andso I can concentrate on that when needbe,” she says.Akil also notes that employer supporthelps him focus on study-season. “Onething that pushed me was very supportivemanagers at work, pushing me to do theCGA program; to this day I am just sograteful.” Andy and Shona, too, haveemployers who easily grant leave forstudying and exams.

Seasoning our days and weekswith balanceIt’s fine to look at the big picture of liter-al and philosophical seasons, but of coursewe have to balance things in our daily,weekly and monthly lives as well.These students may not realize it, but theyare living out one of the main pieces ofadvice that writers Roger and RebeccaMerrill describe in their book Life Mat-ters: Creating a Dynamic Balance of Work,Family, Time and Money (McGraw-Hill,2004). The counsellors, who have workedwith Stephen R. Covey of The SevenHabits of Highly Effective People, advisea small but profound shift in the words weuse to talk about balance.Simply this: what if we replace the wordbalance with the word balancing?If our goal is balancing the roles we wantto fulfil, then we move away fromattempting to allocate identical amountsof time and energy to what we care about.If we are balancing our family, work andpersonal goals, then a perspective likeAndy’s – seeing his own and his family’slife going through “seasons” of busynessand time together – makes sense.Akil looks at his weeks and weekends thisway. “It’s important that the peoplearound you know what your schedule islike – so your kids understand your sched-ule and understand there are times onweekends that you are busy,” he says. “Yet

on the other hand, there is time thatyou’re going to set aside for the family orfor your own personal things.” Everythree months or so, the family takes along weekend away together, for exampleto Whistler.As for Emily, she sees the balancing ofshorter-term goals in her personal life as away to strengthen the ongoing balances inher professional life. “With the big, loftylong-term goals at work that always justseem to keep going and going, just havingsmall goals to strive for in the outside ofwork life is great,” she says, and mentionshorseback riding as something her sum-mer might hold. Balancing realities and dreams, work andfamily, learning and loving, is a chal-lenge. But if the short-term and thelong-term can complement each other,maybe the fluctuations in our schedulescan feel like seasons, with different prior-ities in each one. It sounds like thatapproach is working for these students.And the long days of summer, a literalseason, might be the right time tobreathe deeply and imagine what thatbalance might mean for you.

End note: Lesley-Ann Marriott is givingthe half-day seminar “Balancing YourWheels: In Life and Career, the BalancedWheel is Best” on September 17, in Kelow-na, B.C., at the CGA-BC annual confer-ence. Visit www.cga-bc.org for details.

Meg Walker is a business writer and a painter who learned plenty about balancing those two things while she interviewed the individualsmentioned in this article.

...Imagine that managing your life is like juggling balls. Now imagine thatsome of those balls are rubber – and some are crystal. The ones that arerubber – you can let them fall. You need to know which ones are crystal and will shatter if you let them fall – this can be your health, family relationships, and so on...

22

sessions

The Cer t i f ied Genera l Accountants Associat ion of Br i t i sh Columbia 23

Survey Says:What CGA Students Told Us in Our Latest Survey

Every two to three years, CGA-BC con-ducts a survey to check in with studentsabout which services are working andwhich ones can become even better. “It’sall part of the Association’s efforts toensure that CGA maintains its leadershipand stays number one when it comes toaccountancy and accountancy educationin British Columbia,” says Bill Johnson,FCGA, CGA-BC Director of StudentServices. “It also provides a snapshot ofour student body and allows us toimprove and innovate.”Specific objectives of the research that wasconducted in the early spring include:measuring satisfaction with the CGA pro-gram and services, assessing reasons forchoosing the CGA program and evaluat-ing student experiences of speed interviewnights or career fairs.

Student satisfaction with theCGA programThe majority of students are very satisfiedwith the CGA program. On a five-pointscale, where one means poor and fivemeans excellent, eight in ten current stu-dents give the program a 4 or a 5 out of 5rating. This is an increase in satisfaction:since 2000, high ratings (4 and 5) haveincreased from 68 per cent to 79 per cent,while those awarding top marks (5 out of5) increased from 12 per cent to 22 percent. Similar to the 2006 survey, 43 per cent ofstudents took a proactive approach andspecified places the Association mightimprove, including:• lengthening the course term to reduce

the workload;• altering the grading system so that

assignments also contribute towardsmarks;

• providing more networking opportunities;

• increasing either the number of tutors or interactive sessions;

• improving distance education or offer-

ing more courses in more locationsthroughout the province.Current CGA students find the CGA pol-icy that allows college/university coursesto be eligible for CGA transfer creditsmost helpful (85 per cent agree). Currentstudents also appreciate being able topostpone courses to future sessions withinthe academic year (80 per cent), deferringexams (79 per cent) and being allowed tobe a non-active student for up to a year(76 per cent). In terms of events and activities, theexcitement and pace of Speed InterviewNights were a favourite. On the same five-point scale, more than half of studentswho attended Speed Interview Nights orCareer Fairs gave the events a 4 or 5 interms of being important in their jobsearch.

We need your inputWe’re often asked if the survey makes adifference. Well, the answer to that is aresounding “yes.” “The Association wants to meet andexceed our students' needs,” says Johnson. The survey allows us to propose newideas, which, if supported, could result ina new service or a change. For example,given the option, 64 per cent of currentstudents said they would like to downloadlectures on their iPod. Receiving studentfeedback like this helps us with our long-term planning goals, notes SimoneLeonard, one of the managers within theStudent Services Division. "This option isnow being considered in our long-termplanning and could be implemented assoon as the 2009/2010 academic year,"she said.Another example of our responsiveness iswhen students were asked whether theyknew about and would be interested inbecoming a member of the Student Advi-sory Group (SAG). Forty-one per centreported being aware of it and 39 per centof these students said they would be inter-ested in joining. In order to increase the

awareness of the SAG, Simone says “theSAG will be promoted more this year; forexample, highlights from SAG meetingswill be included in the Student Heads Upsection of the Website.”Overall, students report that the Associa-tion is improving when it comes to caringhow students do in the program. Satisfac-tion (rankings of four and five) hasincreased from 36 per cent in 2003 to 50per cent in 2008 and we trust this rank-ing will continue to increase in the futureas we continue to incorporate the feed-back we receive from our students intoour long-term and short-term initiatives.The Association has introduced a numberof services to assist students in the pro-gram. This includes a career counsellorand other advisors with a strong focus oncustomer service. We are also holdingspecial events designed to help studentscope.CGA students reserve their highest praisefor the Association’s courtesy and helpful-ness when dealing with student enquiries(79 per cent are very satisfied with thisservice aspect), followed by their ability tomeet student needs (66 per cent) and pro-vide academic advice to students (60 percent). When it comes to caring how students doin the program, ratings of this measure ofservice have improved markedly (up from44 per cent in 2006 to the current high of50 per cent).

Students' relationship to technologySpecific aspects of the CGA program arehandled over the Internet, such asenrolling in courses, updating personalinformation, paying fees or submittingassignments.Technology is a useful tool for most stu-dents when it comes to the online compo-nents of the courses themselves. Courselectures and reviews are a favourite: 74 percent are satisfied (ratings of 4 and 5) withthe convenience and quality of audio-

23

RESULTS

streamed materials and exam reviews.When we checked in, 67 per cent of stu-dents find the new CGA-BC Website,which was unveiled in 2007, to be verygood or excellent, and 53 per cent rate theease of finding information either verygood or excellent. The CGAjobs Website is widely used bystudents searching for new career oppor-tunities in the GVRD and Fraser Valleyalong with those in PACE Level, withsome 56 per cent of students saying thesite was helpful in their job search.

Why students choose CGAReputation is an ever-present word thatstudents use to describe why they chooseto earn a CGA designation. Almost all students (93 per cent) see theability to work while studying and the

overall reputation of the CGA designationas important factors in their decision toenroll in the CGA program. Other topreasons to choose CGA include theplethora of good employment prospectsand the designation being recommendedby a trusted acquaintance.When asked why they chose CGA overCA/CMA, some students said they aresimply not interested in the narrow focuson auditing of the former and manage-ment in the latter. The CGA programallows students to choose between variousaccounting-specific careers in audit, man-agement, not-for-profit, and all the indus-tries in between.

ConclusionA survey is just one part of the Associa-tion's commitment to maintaining

healthy two-way communication withstudents. Students say that the Associa-tion is improving in the area of providingacademic advice to students (satisfactionin this area has doubled since 2000), andstudents are consistently pleased with theAssociation's courtesy and helpfulnesswhen dealing with student inquiries (79per cent find this service excellent).

Synovate has conducted the survey onbehalf of the CGA Association since1996. In accordance with previous wavesconducted for this research, a total of 304telephone interviews were conducted.

At the standard 95 per cent level of confi-dence, the statistical margins of error forthe two groups are +/-6 per cent. Trendsfrom the waves conducted in 1996, 2000,2003 and 2006 were included in thereport where possible.

• In line with historical trends, 55 per cent of current students report receiving financial support from their employer for their CGA program

• 65 per cent of students are female; 35 per cent are male• 69 per cent of students have a university degree• 19 per cent have a college diploma or technical certificate • 44 per cent of current students indicate that English is

their first language• Eight out of 10 students live in the GVRD/Fraser

Valley; the largest other concentration is in southern

Vancouver Island• Salaries are up; 34 per cent of students earn more than

$50,000• PACE level students have a significantly higher salary

and monetary compensation than students at lower levels ($52,400 versus $46,500 for the average current student)

• 88 per cent are employed in the field of accountancy• 38 per cent of students are between the ages of 35-44• The average age of a CGA student is 35

Profile of a CGA StudentThe survey also revealed a demographic profile of CGA students.

24The Cer t i f ied Genera l Accountants Associat ion of Br i t i sh Columbia

Q. What requirements do I need to meetbefore applying to the Southern Alberta Insti-tute of Technology (SAIT) or Laurentian Uni-versity? A. Both SAIT and Laurentian require stu-dents to successfully complete the first threelevels of the CGA program prior to applying.

Q. Where do I find the applications for SAITand Laurentian University? A. Please navigate to the “Students” section ofcga-bc.org and click on the link for “DegreeOpportunities,” located on the left side of thepage. Once there, the “National Degree Part-ners” link will guide you to the SAIT and Lau-rentian Websites.

Q. When and how do I enrol in the degreecourses? A. You will receive an acceptance letter in themail after your application has been processedand evaluated. This letter will advise you ofyour degree student number and any credits[**and exemptions?] that you may have beengranted. You may then enrol using CGA’sonline enrolment system.

Q. Can I enrol in more than one course persession? A. Yes. Because of the heavy workloadrequired, however, it is usually not recom-mended. Prerequisite courses must also becompleted.

Q. What are the course withdrawal deadlines? A. SAIT and Laurentian withdrawal deadlinesare the same as for CGA courses. Please referto the online Course and Exam WithdrawalForm, found under “Schedules and Forms”on the student section of the CGA-BC web-site, for the specific dates for each session dur-ing the year.

Q. Do I have to finish my CGA coursesbefore completing the degree courses? A. No. Many students alternate their CGAand degree course enrolments. For example, astudent may take a CGA course in one sessionand a degree course in the next session.

Q. Is it true that there are no exams for SAITcourses? A. Yes. Your final mark will be based on yoursubmitted coursework.

Q. What is the final application deadline forSAIT? A. As SAIT is being phased out, the finaldate for students to apply is September 30,2008. Applications will not be accepted afterthis date, so we recommend that you applyearly.

Q. How long do I have to complete my SAITcourses? A. Students will have until September 30,2014 to complete their courses.

Q. Can I send in an application to SAIT with-out having the requirements completed inorder to meet the deadline? For example, if Ionly have one course missing, can I still apply? A. No, your application will be denied if therequirements – successful completion of thefirst three levels of the CGA program – are notmet. There are no exceptions to this.

Q.Can I earn my degree at another institutionother than CGA’s Degree Partners? A. Yes. Please refer to the online transfer cred-it guide, found under “Transfer Credits” onthe student section of the CGA-BC Website,for more information.

• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

Students and members cancontact Cindy to find outabout:

• degree partner programs (students and members)

• enrolments• session changes• withdrawals (course and program) • refunds• and time limits

She can be reached at ksherman@cga-bc.org or (604) 730-6214.

Session 1 Session 2 Session 3 Session 4Last date to apply for admission July 18 Oct 24 Jan 23 Apr 24Enrolment deadline Aug 22 Nov 21 Feb 20 May 22Annual re-enrolment deadline Aug 29 N/A N/A N/ARegistration Help Lines Aug 11 – 22 N/A N/A N/AWithdrawal date – with refund Sept 22 Dec 22 Mar 30 June 22Withdrawal date – with no refund Oct 20 Jan 19 Apr 27 July 20Courses begin week of Sept 8 Dec 8 Mar 16 June 8First Assignment due week of Sept 15 Dec 15 Mar 23 June 15Deferrals due Nov 28 Mar 6 June 5 Aug 28Exam Week Dec 1 – 6 Mar 9 – 14 June 8 – 13 Sept 1 – 3Exam results released Jan 28 May 6 July 29 Oct 28Business Case refund deadline Nov 28 Mar 6 June 5 Aug 28Business Case withdrawal deadline Dec 8 Mar 16 June 15 Sept 7Business Cases due Dec 12 Mar 20 June 19 Sept 11Business Cases late deadline Dec 26 Apr 3 July 3 Sept 25

Profile: Administrator Helps CGA students and CGA members

At Your Service: Q&A with Cindy James, Administrator, Student Services

sessions

2008-2009 Academic Schedule

C u r re n t A s s e t sa miscel lany of products, books, news and resources for CGAs

The factory of the future will have only two employees: a man and a dog.The man will be there to feed the dog.The dog will be there to keep the man from touching the equipment. ~Warren G. Bennis

Blackberry Bold 9000

F ocusing on business-specificapplications rather than media

functionality, this latest model in theBlackberry line is a definite step in the right direction. Boasting 1 GB of on-board storage memory and a microSD/SDHC memory slot (sup-porting up to 16GBcards), RIM haswisely avoided thetemptation of com-peting with iPodfeatures and focusedits efforts on creat-ing a more power-ful overall businessmachine. New-found high-speed data support(tri-band HSDPA)has been hard-wiredinto the system andoffers the ability to send andreceive documents with ease. Theaddition of ‘Documents to Go’ soft-ware by DataVis now provides highfunctioning editing capabilities com-bined with great navigation optionsand a full QWERTY keyboard. This device also comes armed with anintegrated GPS that allows the user topinpoint their exact location and atwo megapixel camera with videorecording capability, 5x digital zoomand a built-in flash. Also included isan enhanced media player for viewingyour photos or listening to audioplayback through the dual internalspeakers, headphones, or externalspeakers.Worthy of mention is the improvedscreen resolution (480 by 320 halfVGA) and smooth running operatingsystem. The overall user experience ofthis device is one of OS refinementcombined with increased storagepower and functionality.

Dell Inspiron 1435, 1535and 1735

Unlike the much-hyped MacBookAir, the impending release of these

three Dell laptops will offer super-thinstyling combined with vastly morepower than the Apple equivalent. Justone-inch thick at their slimmest point(with a maximum thickness of 1.5inches), these systems bring many fea-tures of the high-end Dell XPS desk-tops to a super-small, portable system.Each of the models will be availablewith Core 2 Duo T5850 1.6GHz

processors, and slot-loading DVD driveswith an optional Blu-ray option. Best ofall is the 3G WWAN (wireless wide areanetwork) connectivity that makes Inter-net access an easy option for the execu-tive on the move.

Book Review

Black SwanBy Nassim Nicholas Taleb

Written by ex-option trader/quantative analystNassim Nicholas Taleb, the subject matter is

a grand elaboration on the “impact of thehighly improbable.” Theseevents, referred to as “BlackSwans” are more common than

one might think. Happeningslike 9/11, the collapse oflong-term capital manage-ment, the rise of Google andthe current state of the U.S. realestate market are all Black Swans.At length, the book points out how we overesti-mate what we know and underestimate what wedon’t. What’s perhaps most interesting about thismaterial is how Taleb depicts these concepts fromthe perspective of a financial analyst.

Applications such as LinkedIn and Facebook are fast becoming a vital part of modern busi-ness. Often regarded as Web 2.0, the rise of online social networking offers a complex mesh

of technology and design with a focus on information sharing and user interaction. There arealready several hundred sites to choose from of various form and function, but here are a fewof the biggest movers and shakers: LinkedIn – An online business-specific networking tool, with a membership boasting over 20million professionals from around the world, representing 150 industries. Forget exchangingbusiness cards – use LinkedIn to open doors to opportunities using the professional relation-ships you already have. Facebook – This site may be harder for busy executives, but more and more are climbingaboard. With 67 million members, companies are using it for everything from staying in touchwith alumni to setting up private groups for online collaboration.Twitter – One of the fastest-growing phenomena on the Internet. Twitter is a service thatencourages members to broadcast moment-to-moment updates of what they’re doing or think-ing in 140 characters or less. If you carefully pick which Twitters to follow, it can be a pipelineinto the “private” thoughts of whatever subculture you want to zero in on. Consider it marketresearch for those who can’t get out of the office.Dopplr – An online tool for frequent business travellers. Dopplr lets you share your futuretravel plans privately with friends and colleagues. The service then highlights coincidence, forexample, telling you that three people you know will be in Paris when you will be there too.You can use Dopplr on your personal computer and mobile phone.

Social Networks — Knowing Everyone’s Business

ou

tl

oo

k

cu

re

nt

as

se

ts

25

Quarter Century Club dinner May 2, 2008ou

tl

oo

k

QC

C

26

Below (clockwise from left) Irene Gordon, FCGA, is welcomed into the QCC by Bill Smyth, FCGA, 1983 President and QCC committee member(left) along with current President Pat Keller, FCGA (right). She has been a professor in accountancy with Simon Fraser University since 1981and received a number of awards including the SFU Excellence in Teaching Award in 1985, the L.S. Rosen Outstanding Accounting EducatorAward in 1999, and was named Simon Fraser University’s CGA Research Fellow in 2006; 2006 President Moe Jones, FCGA, talks to guest LindaJellicoe (left) and CGA-BC staff member Anna Hutchison (right); Bill Smyth, FCGA, (left) and President Pat Keller, FCGA (right), along with QCCrecipient Jack Kler, CGA, who spent much of the last 25 years in municipal finance.

Above (clockwise from top left) Nancy and Philip H. White, CGA (Hon.). Dr. White was the Dean of the Faculty of Commerce & BusinessAdministration at UBC when elected as an Honorary Member of the Association in 1972; Bill Schulz, CGA, Chair of the QCC and HaroldStringer, CGA, a member emeritus; Robert Morrow, FCGA, listens to the address by President Pat Keller.

The annual Quarter Century Club dinner welcomed 133 inductees into the club and 15 new members emeritus (50-yearmembers of CGA-BC). The dinner, at the Sutton Place Hotel in Vancouver, welcomed over 100 new members and their

Photos: Ron Sangha

dinner May 2, 2008

ou

tl

oo

k

QC

C

27

guests, including seven members emeritus, to celebrate the occasion. And special recognition was afforded to RobertMorrow, FCGA, who celebrated his 62nd anniversary as a CGA.

Below (clockwise from left) QCC inductee and CGA-BC Governor Bruce Hurst, CGA with his wife Barbara. He summarized the last 25 yearsthis way: “Spent most of the last 25 years building my dream – the business.”; It’s academic: John Stuart, CGA, (left and inset) an inductee tothe QCC had a career lasting from 1958 to 1985 including time lecturing at UBC for two years in the Diploma Division of the Commerce Facul-ty. Also in the picture: David Sale, CGA, Lecturer at Kwantlen and Bert Dartnell, FCGA, who had an extensive career in business and teachingthe CGA program. He’s also featured on the Association’s anniversary Website; Kim-Seah Ng, CGA, between Bill Smyth, FCGA, (left) and PatKeller, FCGA, (right) says he worked in costing, retired in 2001 and has time to dote on his 2-year old granddaughter.

Above The class of 1983.

A s part of the Association’s 100thanniversary celebrations, Outlookrecently spoke with CGAs whose

love of the designation literally runs in thefamily. One theme consistently emerged –that despite being from different genera-tions, the respect and pride in each other’saccomplishments transcends time.

Clifford James Watt, CGA (Father) Carol Lynne Schroeder, CGA(Daughter)Carol Schroeder’s parents have since died,but their legacy lives on in Carol’s life. “Myfather passed away in 1998 and my motherin 2000. It is certainly their hard work andintegrity that has influenced my life as aCGA,” says Carol, reflecting upon hercareer and the influence of her father andfamily on what she calls “my life vocation.”

“It probably started long before I hadany idea that I wanted to become a CGA,”and it all began with her father.

Clifford Watts became a CGA in 1958at the age of 45, setting a new course for hislife after a 20 year career as a WW II eraChief Petty Officer in the Navy – establish-ing a public practice in the front half of hishome in Aldergrove.

“My first memories of his office includ-ed asking for a Scotch Mint from the wood-en barrel on his desk and sharpening thehuge container of lead pencils so that therewould always be a sharp one available.Around the age of 13, my twin sister and Istarted working at my father’s office duringthe holidays, learning from the bottom up.We travelled out of the office with my unclein the mobile accounting van, as we wentfrom business to business in the Langleyand Abbotsford area. We updated theirbooks on a weekly basis using a Burroughs

business machine and a hand crank addingmachine. We typed financial statements –12 copies at a time on onion skin paper.Long before the time of photocopiers wetyped Gestetner stencils for any forms thathad to be prepared.”

Carol initially planned to become anurse. “Dad asked whether I was going tocome to work for him or not, and there wasno doubt in my mind. I said ‘yes’, enrolledin some accounting courses, and thenenrolled in the CGA program in September1967 at the age of 17.” She graduated fiveyears later: “My father and I were recognizedas the first father/daughter team in B.C. Mymemories of how proud my father was, withhis smile from ear to ear, as we walked downthe ballroom at the Empress Hotel in Victo-ria will always be cherished.”

Carol started her own public practice in1978 but eventually sold it. In 1987 she

joined the Blankley family at WatkinMotors, the oldest Ford Dealership inCanada. “I have worked very closely withthe family operation; I had the pleasure ofoverseeing the transition from parents tosons to grandchildren, the acquisition ofproperties, building new facilities and amultitude of changes in the way we dobusiness. Today’s world of computers,faxes, photocopiers, and cell phones is along way from where I started so manyyears ago sharpening pencils in my father’soffice.”

Although she retired in 2007, Carol stillcontinues to work for the family operationon a part-time basis handling corporateaffairs.

“CGA to me means family. My father,mother, uncle, two sisters, brother-in-law,and myself have all made a career inaccounting, starting at my father’s practicein Aldergrove. It’s the way I was broughtup, to be honest, to uphold your principlesand to exemplify integrity in all that youdo. That’s what CGA has meant to me, andI am proud to be a member of the CGAAssociation.”

Mary Pattison, FCGA (Mother)Maria Pattison, CGA (Daughter)

Mary Pattison was working as a book-keeper in an office in Penticton, when heremployer told her that she was wasting hertalent and encouraged her to join the CGAprogram. A mother of five, Mary decidedthat “once my kids were in school, I woulddo it.” And she did, ultimately starting herown practice, Pattison, Larkin and Downer,in Victoria, in 1971. “I never purposelytried to get bigger, but the practice justgrew and grew.”

Mary says, “I was surprised when Maria

Family faces are magic mirrors. Looking at people who belong to us, we see the past, present, and future. ~Gail Lumet Buckley

“My father and I wererecognized as the firstfather/daughter team in B.C. My memoriesof how proud my fatherwas, with his smilefrom ear to ear, as wewalked down the ball-room at the EmpressHotel in Victoria willalways be cherished.”

–Carol Schroeder

Family TiesBy Ilona Beiks

ou

tl

oo

k

fe

at

ur

e

28

started studying for the CGA; I’m proud ofher. I’ve talked with many students overthe years who would interview me [aboutthe business], and they were all gung ho,but when the going got tough, many wouldquit. Maria stuck with it. I always felt thatCGA offered many opportunities, especial-ly for women, with more flexibility thanother professions.”

Like her mother, Maria found a way tonurture her career and her family. Sheentered the program in 1972, graduating in

January 1984, “ten years and two childrenlater, even writing one exam while eightmonths pregnant,” exclaims Maria.

“In high school, I used to do some bitsof bookkeeping for mom. Then worked forthe Bank of Montreal and a trust companybefore going to university. Following inmom's footsteps seemed the most naturalway to pursue a career in accounting.”

Maria credits her mother for her ownlife choices, returning to work at her prac-tice until graduating. “I learned a tremen-dous amount from her. She was a very goodemployer. All the staff loved her and shebrought out the best in people. I felt veryproud of that and have modelled her in theway in which I treat the people I workwith.”

Mary urged Maria to be active in theAssociation. “Mom was President and onthe national board, plus served for many,many years on various provincial commit-tees. I, too, served on the Board as Gover-nor for the Okanagan, plus served throughthe Chairs at the Chapter level in Victoriaand Penticton and sat on Committees bothin the Chapter and the Provincial Associa-tion.”

Jim Goodwin, CGA (Father)Kevin Goodwin, CGA (Son)At the end of WW II, Jim Goodwin took abookkeeping course and jumped at theopportunity to apply for a job with amarine towing company on VancouverIsland. He had worked on tugboats andknew the business from stem to stern,which made up for what he lacked inaccountancy.

He started CGA courses in 1953,

achieving his designation in 1958. “Ithought, if I wanted to be a plumber orprinter I would start at the bottom,” hesays. “But with accounting I could starthalfway up of any business,” Jim says.

After a career spanning 40 years withNanaimo Realty, Jim retired in 1998. “Thereal estate business and CGA have beengood to me, and opened up a lot of doors,”he says. So, not surprisingly, Jim admits hetried to steer his son Kevin in the same

“When I graduated inJanuary 1984, we werequite proud to be thefirst Mother-DaughterCGAs. There were a few Father-Son com-binations, but we werethe first women.”–Maria Pattison, CGA

ou

tl

oo

k

fe

at

ur

e

29

Mary and Maria Pattison

Kevin and Jim Goodwin

ou

tl

oo

k

fe

at

ur

e

30

direction. “Yes, I pushed him. I guess I hadan influence, and he seemed to take to it.”Observing his son’s career, Jim notes thebiggest difference between his career andhis son’s is that “my son has had at least tenmore jobs than I had. He changes jobs likeseasons, and the courses are more difficult,more informational, they [CGAs] havemore knowledge. Thank god I did it fiftyyears ago!”

Kevin Goodwin always knew hewould be involved in business, “as myDad was a CGA, he encouraged me, say-ing without a degree you start at the bot-tom of any organization – with a CGAdegree you start half way up.” But Kevinrecalls he was warned that, “it was a lot ofhard work. I was taking a commercedegree, which my dad said was a generaldegree. In the mid 80's CGA was morespecific than a general degree and I wasmore likely to land a job in the field of myendeavour as job opportunities at the timewere scarce.”

Kevin’s first job as a CGA was in 1987with Grant Thornton and he has been inpublic practice in Nanaimo since 2002.He has no regrets following his dad’s leadand advice, which includes, “have integri-ty, go the straight and narrow, be honest.”According to Kevin, the upshot of sharinga profession is, “I phone him on a regularbasis to bounce ideas off of him, but thedown side of sharing a profession is havingto subject the family to accounting banterover holiday dinners.”

Harold Stringer (Grandfather)Daniel Stringer (Grandson)

Harold Stringer graduated from thefirst commerce class at the University ofManitoba in 1940. “But the war intervened

and when I got out in ‘47, I ended up inVancouver, becoming executive secretary ofthe Vancouver Junior Chamber of Com-merce. And that’s where I met CGAs whobecame my mentors, persuading me to jointhe CGA, ” says Harold.

According to Harold, accounting wasn’tmuch of an emphasis at university and get-ting his designation was hard. “It wastough: you studied on your own and therewere no courses or lectures. I failed a fewtimes along the way. But I persevered,knowing that as a CGA member I could geta better job.”

Over the course of his 50-year career,Harold concentrated on working with busi-nesses and industry, which included anexport/import firm and an iron and steelfactory, and spent the last twenty years as aconsultant for Stevenson-Kellogg. “I hatedincome tax and I always preferred theindustry side. I have imagination, creativi-ty and a sense of responsibility to makethings better.”

Harold sees these same traits in hisgrandson Daniel. “Daniel always wanted

“Daniel always wanted tobe an accountant; I want-ed him to be a CGA. Theonly security is financialsecurity and you’ve gotto know something aboutit to get it.” –Harold StringerIn planning our centennial celebrations,

the question arose: Who is the UltimateCGA? No one knows for sure, which iswhy we are holding the first UltimateCGA Contest. We're not looking for thebest accountant; we want to discoverwhich member or CGA student bestdemonstrates their pride in the designa-tion.One thing is for certain: As the UltimateCGA you will wear your pride on yoursleeve…or on a vanity license plate, ortattooed on their arm. Actually, your loveof CGA doesn't have to be worn or goskin deep; it can go wherever your imag-ination takes it. To a mural painted onyour house, a CGA flag planted atop theLions (or Mount Everest, depending onyour budget and fitness level), or a starnamed in the heavens.Make your case. Send us photos or videoclips that demonstrate your pride inCGA. We're creating an Ultimate CGApage on our site that will let membersand students decide for themselves. Ofcourse, we'll make it worth the titlehold-er's efforts. The Ultimate CGA will beselected in November and receive anOkanagan wine tour package for two.Send your entry to I Am the UltimateCGA c/o of the Association offices or reg-ister online before October 31, 2008.The winner and those deserving specialattention will be featured in the Decem-ber issue of Outlook.

ARE YOU THE ULTIMATE CGA?

Continued from page 27

to be an accountant; I wanted him to be aCGA. The only security is financial securi-ty and you’ve got to know something aboutit to get it.”

Daniel Stringer is Manager, Finance, ITand Commercial Purchasing at MTUMaintenance Canada Ltd., based in Rich-mond, B.C. The MTU network is thelargest provider of independent commercialengine services worldwide.

Daniel agrees: “I found that the CAprogram was too heavily focused on public

practice. I didn’t like the fact that I wouldonly get to tell people how much moneythey made, as I would prefer to help themmake it.”

Like his grandfather, when Danielreceived his CGA certificate in 2001, hefound “it was not an easy road, with sever-al roadblocks.” But he too persevered. “Ithit home when I presented grandad with (acrystal bowl at) the fifty year club, as yourealize what he helped to start and whatroad you yourself are going down.”

Following in his grandfather’s footsteps,Daniel has concentrated on positions with-in industry too. Harold laughs, acknowl-edging that. “I give him advice all the time.I can’t help it. I enjoy talking about it,adding from my experiences when I can. Itell him, be governed by principles [such as]loyalty to your firm, and honest, ethicalpractices. And I see that in Daniel,” boastsHarold. “I am delighted when I see himstick to his guns and do the right thing nomatter what someone else says.”

Multiply your financial workforce.

With Accountemps, you can hire skilled temporary financial and accounting pro-fessionals on an as-needed basis. Call us at one of our 360 offices worldwide today. And see how easy it can be to multiply your productivity without subtracting from your bottom line.

ou

tl

oo

k

fe

at

ur

e

31

vision2008

ou

tl

oo

k

vis

ion

20

08

32

Sum

mer

’08

Editi

on

Wynne Powell, FCGA,Connects with BCIT StudentsBy Pardeep Clair

Passion, hunger, knowledge and high energy—these are the fundamental components to suc-cess, in the words of keynote speaker Wynne

Powell, FCGA. The CEO and President of LondonDrugs was addressing BCIT students at CGA-BC’s 5th

annual CONNECT event when he shared the ingredi-ents to his recipe for success. Powell, a BCIT alumni,was the perfect fit for the event, a joint effort of theBCIT Marketing Association, the BCIT Financial Man-agement Association and CGA-BC.

Over 100 CGA-BC members and BCIT studentsenjoyed networking over wine and hors d’oeuvres.

“The crowd was buzzing with connections beingmade between students and CGA Ambassadors,” saidLisa So, Administrator, Recruitment & Employment atCGA-BC.

“The students were also connecting with potentialemployers from our Partners In Employment pro-gram.”

Powell gave an inspirational presentation on his

Just answer the questions below for your chance to win.

The June issue of Outlook features an article in the WorkingPapers section on the line-up for the Association’s new ethics course for CGA members. What is the title of the course for members (as distinct from graduates)?

______________________________________________________

Mathematical skill-testing question: (10X3)+ 8+(12/3)-4= _________

Fax your response to the Association at (604) 732-1252 by noon onWednesday, June 25, 2008. *

Your name _________________________________________

Your contact info / (Telephone or e-mail)_________________________________________________

q Yes, I’d like to be a CGA ambassador. I went to the following post-secondary institution_________________________________________________

q Send me more information about PEP.

* Winners will be picked at random from only those entries with the correct answer.One entry per person.

Winners will be contacted and announced in the September edition of CGA Update,CGA-BC’s e-newsletter. There is no product substitution.

Approximate value of prize: $400The chances of winning will depend on the number of valid entries received by

CGA-BC.

Report on Recruitment, Employment & Empowerment

Win A Two-Night Stay at the Hilton Metrotown

Vision 2008 is CGA-BC’s strategic focus on recruitment, employment and empowerment opportunities for members and students.

ou

tl

oo

k

VIS

ION

20

08

33

“To prepare yourself for your work in this Life is Essential and Necessary, but he who

keeps himself continually informed, by constant study and association with others, is

twice prepared, and always ready for emergency.”

—The Association’s motto circa 1947

The marketing and the accounting types are two different personalities;they see the world with different eyes. But at some point these twomust meet. The following is adapted from a presentation given by Dan

Relihan, CGA, Manager, Recruitment and Employment Initiatives, at CONNECT2008. Dan himself is a conflicted personality—a CGA working in a marketingposition.

The Marketing Type says:Wow, look how beautiful it is out there, let's go for awalk in the sunshine.

What's the biggest ad we can run in this magazine forthe money we have?

The business isn't doing too well lately; we shoulddump big dollars into a huge advertising campaign.

This new product is going to open entire new marketsto us!

Oh boy, it's the office softball game tonight.

Hey, we've got $100,000 left over that we haven'tspent yet, let's spend it on something or accountingwill never give us the money when we do need it.

Happy New Year!

In business you need to spend money to make money.

The Accounting Type says:Is this project on budget?

That expense cannot be recorded in this fiscal year, it must accrued into last fiscal year to match it to therecognized revenue.

The Accounting Type says:Hey, close the blinds, I can't see my spreadsheet.

What's the smallest size ad we can run and still keepmarketing quiet?

The business isn't doing too well lately. We need tolayoff the whole marketing department.

This new product is going to mean an entirely newnote to the financial statements!

Oh boy, it's month end close off tonight.

Hey, we've got $100,000 left over that we haven'tspent yet — hide it from marketing.

It's December 31st, let's get a head start on the year-end working papers.

Actually accounting types don't say anything; they'respeechless when you talk that way.

The Marketing Type says:You mean there's a budget?

Huh?

When worlds collide: Marketing vs. Accounting

own career, his drive, his values and hisethics.

In addition to his work at LondonDrugs, Powell is president of severalcompanies, including: London Drugs,London Air Services Limited, SonoraResorts and TLD Computers. His volun-teer commitments stretch from Chair ofthe BC Provincial Health Services Author-ity to Director of the Vancouver Board ofTrade.

Every Friday he boards the SouthernGulf Island Ferry with 25 kg of readingmaterial, mostly relating to the manycompanies he manages. How does oneget through that much reading materialin a single sitting? Speed-reading. Powelltook a speed-reading course early in hiscareer, which he maintains is key for himkeeping up with his myriad commit-ments. When asked how he divides histime given his many companies, hisanswer was simple – time slotting.

Powell sent the audience home witha powerful affirmation that he encour-aged everyone to take to heart: “I am asuccess story waiting to be written.”

“It was terrific to hear a CGA who hasgone so far with his designation,” saidMichael Petrachenko, a CGA student andemployee of Partner in Employment,Galloway Botteselle and Co. The eveningended with a presentation of $2,500 anda Dell computer to Dress For Success, acharity supporting low-income womenin business chosen by the students.

ou

tl

oo

k

wo

rk

ing

pa

pe

rs

34

Wo r k i n g P ap e r sinformation and intel l igence for professional success

Members’ Ethics Requirement

CGA-BC has a long history of being aleader in the field of standards and techni-cal competency, recognizing the value ofcontinuing education and its role in con-tinuous improvement, and enhancing thedesignation’s relevance. By giving a priorityto our responsibility to protect the public,and keeping in mind the value of enhancedpublic respect, your Board of Governorshas identified ongoing ethics education as avital tool in assisting members in meetingtheir professional obligations.GraduatesBeginning in 2008, all graduating membersare required to complete a CGA-BC one-day rules and standards course within theirfirst full year of membership, and thereaftermaintain their education in the area ofbusiness ethics. The Essence of Professional-ism: Ethics, Rules and Standards for NewCGAs is offered several times a year includ-ing:June 27 in VancouverJuly 15 in VancouverNovember 25 in BurnabyMembersExisting members are required to maintaintheir education in ethics by completing aminimum of a half-day (4-hour) verifiablecourse in business ethics based on the three-year moving total. This ongoing require-ment is not meant to be a test of the Asso-ciation’s Act, Bylaws and Code; rather, it isa program on ethical decision-making inbusiness. Although CGA-BC offers courses thatmeet this requirement, you are able toundertake any appropriate verifiable four-hour ethics training. Examples of appro-priate subject areas include corporateresponsibility, honesty in business practice,moral disagreements at work, and “whistle-blowing.” Members should be looking forethics education opportunities that help toprepare them for the dilemmas encoun-tered in the workplace, through businessand various organizations. Our in-person,half-day seminar, Black and White...andSometimes Grey: A Review of Business Ethicsfor CGAs, has been confirmed for:June 6 in CoquitlamSept. 17 in Kelowna Sept. 30 in Victoria

Oct. 23 in CastlegarNov. 17 in BurnabyDec. 8 in Nanaimo Workshop details and registration are avail-able on the Website.

Now is the Time to Register for PD

In 1908, John Leslie had a vision to“encourage improvement in skills and

job performance” among those in theaccounting profession. From this vision,CGA was born. That vision has beenshared by many thousands over the inter-vening years. With a new cycle of CPD commencing thisyear, requiring members to undertake 120hours of CPD over a three-year period, thetime has arrived to reflect on the vision youhave for yourself, where you hope to be inyour career, and to lay the foundation for

that vision such that you may have similarsuccess. PD is that foundation, a foundation fromwhich you underwrite your experiencesand progress in your chosen endeavours.Setting your vision in motion and meetingyour CPD requirements is simple. All ittakes is a plan, and a three-day in-personcommitment every year. Committing to three days of in-persontraining on an annual basis will ensure youcomply with the new 60-hour verifiablerule. If you supplement this with threedays worth of technical reading and otherCPD, you’ll achieve the requirements. Six days out of 365 seems like an easy taskdoesn’t it? We’re already in June, so if you haven’t yet,check out the courses we provide and reg-ister for those that interest you. Remember, while the 120 hours is over athree-year period, you need to report yourhours annually. So, why not get started?

Clip and Save

Keep this list of Member Services’ contacts close by:

Address and member records Irene Tomyn (604) 730 6247

AGM proxies Jacqueline Martin (604) 629-8369

Bylaws enquiries Jim Timmerman, CGA (604) 629-8374

Chapters Penny Hurst (604) 730-6207

Certificate replacement Elize Combrinck (604) 730-6229

Code of ethics, interpretation Pam Skinner, CGA (604) 730-6222

CPD reporting and 4-hour ethics

requirement Jacqueline Martin (604) 629-8369

Educational Foundation, including

bursary applications Penny Hurst (604) 730-6207

Ethics complaints Jim Timmerman, CGA (604) 629-8374

Honours & awards nominations Penny Hurst (604) 730-6207

Member benefits program Jacqueline Martin (604) 629-8369

Member inquiries, public Elize Combrinck (604) 730-6229

Member status and name changes Elize Combrinck (604) 730-6229

Member Readmission Jennifer Wilson (604) 730-6236

New graduate ethics requirement Elize Combrinck (604) 730-6229

Online Services support (backup) Irene Tomyn (604) 730-6247

PD complaints Yasmine Moulin (604) 629-8361

PD new speakers Yasmine Moulin (604) 629-8361

PD delivery Roxanne Haggkvist (604) 730-6245

PD planning and registration Ruth Bornhauser (604) 714-2352

Special projects Sue Threlfall (604) 730-6239

ou

tl

oo

k

pr

ac

tic

e r

ev

iew

35

P r a c t i c e R ev i ewresources, courses and tools of the trade

Practitioners, You’re Invited to the APPM inKelowna

P ractitioners are invited to this year’sgathering of public practitioners at the

Annual Public Practice Meeting (APPM),to be held September 18 in Kelowna. Itwill be an interactive morning providinginformation, motivation and networkingopportunities. This meeting, planned bythe CGA-BC Public Practice AdvisoryGroup, will focus on how to attract staffand future practitioners to the profession.A panel will lead off the discussion withseveral innovative ideas currently beingused in B.C. firms.In addition, Deborah Graystone, BSc,TEP, CGA, a frequent author and lecturerfor CGA-Canada and the provincial associ-ations, will provide a presentation on themany challenges practitioners face in pro-viding effective tax services to their clientsin an increasingly complex environment.Recent years have seen volumes of techni-cally challenging new legislation, increasedscrutiny by the tax authorities, and morecomplex cross-border business transac-tions. Considering the increasing risk ofprofessional malpractice claims inherent inproviding tax compliance and advisoryservices, you won’t want to miss the valuethis presentation will add to your practice.

Jackie Leung, CGA, proprietor of Leung& Co. in Langley, said:

“2007 was my first APPM. I wasencouraged to meet many of my col-leagues throughout the province. Themeeting was designed to inform anddiscuss issues of concern to CGApractitioners. We were given anopportunity to talk in more detail andmake suggestions using round-tablediscussions. I am looking forward toattending these events in the future.”

Register for this event at www.cga-bc.org.

Fees and Insurance Deadlines

Public Practice registration fees are dueon or before July 1. Renewal of profes-

sional liability insurance is due on or beforeAugust 1. Invoices for the Public Practiceregistration fee were mailed in early May,and the Association’s insurer (Aon ReedStenhouse Inc.) sent you a renewal noticein early June. An administration fee of$150 will be levied for public practice feesunpaid by July 1. A separate administrationfee of $150 for failure to renew and main-tain professional liability insurance by Aug.1 will be levied. If public practice registra-tion fees and/or professional liability insur-ance premiums remain unpaid 30 daysafter the due date, the member is withoutnotice deemed to have resigned from pub-lic practice unless written notice of extenu-ating circumstances is received within 30days from the original due date.Note that member dues are payable on orbefore July 1 each year, after which a $150administration fee applies. In accordancewith Bylaw B114 (a), if annual dues remainunpaid after July 31, the member is withoutnotice deemed to have resigned from member-ship unless the Board has accepted a writtennotice of extenuating circumstances. Mem-bers who have resigned are automaticallyderegistered from public practice as a Cer-tified General Accountant.Contact Akhtar Sadeghi at asadeghi@cga-bc.org for further information.

Deadline for PPAG Nominations October 15

Members in Public Practice who wishto volunteer for the 2009 Public

Practice Advisory Group are invited tosubmit their names for consideration.Individuals eligible to volunteer for theAdvisory Group are CGA-BC membersengaged or employed in the practice ofpublic accounting. Criteria for selection are partially based onregional representation, as follows: threecandidates from the Lower Mainland, onefrom Southern Vancouver Island, and twoto represent the balance of the province. Please submit your name and a short biog-raphy by October 15 to Brigitte Ilk, CGA,Manager, Public Practice Research andDevelopment, at bilk@cga-bc.org.

Additional Practice Management Session inAugust

Due to higher registration levels, anadditional session of the Practice

Management portion of the Public PracticeSeries is being added. You can register onthe CGA-BC Website for the August 25-26seminar or contact Ruth Bornhauser atrbornhauser@cga-bc.org.

Money Laundering Legislation AmendmentsAffecting AccountantsStarts June 23

Changes to The Proceeds of Crime(Money Laundering) and Terrorist

Financing Act affecting accountantsbecome effective June 23. Areas affectedinclude reporting, record keeping, clientidentification and compliance regimeimplementation. For details see http://www.fintrac-canafe. gc.ca/re-ed/sc/ac-co-eng.asp.

Save time – instead of typing in long Web links, visit

the online edition of Outlook at www.cga-bc.org

and find live links to all the Web resources referenced

in this issue of Outlook.

O N L I N Eoutlook

CGA-BC’s first Educational Symposium on April 29 drew 80 business school educators to anevening of energetic networking and a compelling presentation on B.C.’s demographic and eco-nomic future.

The purpose of the evening was to allow accounting instructors and business school administrators,representing more than a dozen B.C. post-secondary institutions, to get caught up on recent changes tothe CGA Program of Professional Studies and get reacquainted with old colleagues.

Lynda Carson, FCGA, CGA-Canada Vice-President of Education and Operational Affairs, talkedabout the CGA education program and continuing its tradition of public policy research with its CGA-Canada Research Foundation, which will be involved with more research projects and more collabora-tion.

The main event was a wide-ranging presentation from David Baxter, Executive Director of the UrbanFutures Institute. Baxter is a demographer, statistician, economist and self-confessed “numbers geek.”

In a freewheeling lecture that touched on everything from women choosing to have fewer children,to why John McCain will be the next U.S. president, and the rise of China’s middle class, Baxter said thatB.C.’s economy is in good shape. But he warned that our small workforce and low birth rate spell seri-ous trouble unless other measures are taken soon to prevent a future desperately short of skilled workers.

Paraphrasing the former Bank of Canada Governor David Dodge, Baxter said that Canada needs athree-part miracle to overcome its shrinking labour supply: an increase in the number of workers delay-ing retirement, an increase in the labour force participation rate and, perhaps most importantly, anincrease in productivity.

“The numbers don’t lie,” was a phrase he repeated as he flashed through dozens of slides of ominouslybulging bell curve graphs showing the average age of Canadian workers rising inexorably.

For all the gloom of impending worker shortages and an economy unable to support the social serv-ices of an aging population, Baxter was upbeat.

He sees solutions in increased immigration (that, he says, not Expo, was the primary reason for ourpost-1986 boom), and the introduction of more First Nation Canadians to the skilled workforce.

Another cause for his optimism is what he calls the shift out of B.C.’s boom and bust commodities-dependent economy. Fluctuations will always be part of our natural resources markets, but “the boomand bust cycle for commodities ends when demand from Asia becomes permanent. And with a middleclass of 300 million Chinese, to say nothing of India, our commodities will never be cheap.”

In thanking the Association, Dr. Arthur Coren, MBA, Dean of the School of Business at Kwantlen,and Executive Director of International Education, recognized CGA-BC for its long-standing traditionof working with the post-secondary community. He told the audience that for many years CGA-BC hadbeen a wonderful partner to all of the institutions producing business students throughout the province.He went on to congratulate the Association for its commitment to higher education, the quality of itsprogram, and the leading role it has taken in public policy as well as its role as a strong supporter ofimportant events within the business and academic communities.

“For many, many years, the CGAs have been an important part of British Columbia’s post-secondaryeducation landscape. The Association has continuously taken a leadership role in the transfer and artic-ulation of courses,” commented Dr. Coren. He later said, “This evening’s program is typical of their com-mitment – not just to their current members and prospective accountants like our students – but to theentire accounting profession. I believe I speak for every educator in this room when I say we’re proud tobe associated with such an outstanding organization.”

ou

tl

oo

k

fe

at

ur

e

36

Glimpse of B.C.’s FutureCaps Night of AcademicNetworking

ou

tl

oo

k

fe

at

ur

e

37

Clockwise from top left: David Baxter (left) talks to Pam Skinner, CGA, CGA-BC Director of Member Services;Lynda Carson, FCGA, provides an update on the CGA program of studies;President Pat Keller, FCGA, (left) confers with keynote speaker David Baxter;Dr. Art Coren, Dean of Business at Kwantlen Polytechnic University gave an impas-sioned thank-you to CGA for its support of post-secondary institutions;By the numbers: David Baxter delivers the goods on B.C.’s demographic future.

Wynn Powell, FCGA, President of

London Drugs of Richmond, B.C.

was quoted in the April 18 edi-

tion of the New York Times. The

story was in reaction to the deci-

sion by Nalgene, a popular water

bottle maker, to stop using a

nearly unbreakable polycarbonate

because it contained bisphenol-

a, which has been linked to hor-

monal changes in animals.

Those reports also prompt-

ed many of Canada’s largest

retailers, to remove food-related

products made with plastics con-

taining the compound chemical,

such as baby bottles and food

containers, from shelves.

Powell told the Times that not all

consumers had been pleased by

the decision to withdraw the

products and replace them with

alternatives. “I had some com-

plaints come to my desk com-

plaining that we were fear-mon-

gering by pulling products,” he

said. “The public was not totally

on board.”

K U D O S

Michael McAdam Joins CGA-BC BoardPresident Pat Keller, FCGA, and the Board of CGA-BC are pleased to announce theappointment of Michael McAdam, CGA, to the Association’s Board of Governors.McAdam is President and CEO of Teldon Media Group Inc; the largest privately heldprinter in Western Canada. He has held his current position for the last six years.McAdam said he has wanted to give back to his Association for a long time now, andspecifically cited the goal of ensuring that “we have the most sought after designationamong students across the province.”McAdam fills the Board seat vacated due to a resignation from the Board earlier inJanuary. The Teldon CEO will be able to stand for re-election when his six-monthterm ends at the end of the year. He earned an honours diploma in finance fromKwantlen College and his CGA certification in 1997.McAdam’s volunteer and community experience includes acting as director of the Tel-don Community Foundation from 1992 to 2008; working with His Hands & FeetMinistries, a builder of churches and affordable housing for needy families in Mexi-co; and representing CGA-BC to business groups and potential students as an Asso-ciation ambassador. In his nomination papers, he wrote: “I believe that each of us hasbeen given a set of gifts and talents in order to not only earn a living, but also to con-tribute freely for a common good. I have the ability to discern clarity from the com-plex and to give guidance at a higher strategic level.”

Guy Heywood Appointed Lay Board MemberR. Guy Heywood, MBA, of North Vancouver has been appointed by an Order inCouncil as a Lay Board member of the Association’s Board of Governors. Mr. Hey-wood is the Co-Founder and Vice-President Finance of Renaissance Power Corpora-tion, a business that helps identify, manage, and finance community power projectswith local governments and other government or near-government agencies. In addi-tion, he works for Magnolia Capital Corporation, which purchases royalties and refi-nances the reclamation obligations of operating mines. Previously, he was a SeniorManager at Royal Bank and the Vice President and Treasurer at The Loewen GroupInc. Active in the community, Mr. Heywood currently serves as the Commissionerand Chair of the North Vancouver Recreation Commission. In the past, he served asTrustee and Chair of the North Vancouver School District and as a Director for the

ou

tl

oo

k

sn

ap

sh

ot

s

38

Snap

Sho

tsBoard orientation: New CGA-BC Governor, Michael McAdam, CGA, (back left) andLay member, Guy Heywood, MBA, (back right) receive an orientation to the Associa-tion by CGA-BC’s Director of Corporate Services, Juliana Laing, BA, and ExecutiveDirector and Secretary, R. W. (Bill) Caulfield, BA, FCIS, CGA (Hon.).

M i l e S t o n e s

CGAJOBS ANNOUNCES WII-INNER

Level 3 CGA student Craig Watson won a Nintendo Wii aspart of a special promotion by CGAjobs, the Association’s jobsWebsite. The prize was part of a wider promotion to encourageCGA members and students to register with the site and posttheir resumés

Jerrick Barroso, Coordinator of the Association’s Partners inEmployment Program, said that some 7,553 CGAs membersand students are now registered on CGAjobs – up since thebeginning of the year. If you missed out on this contest, addi-tional prizes will be offered as the campaign continues. WatchOutlook, future mailings and the CGAjobs Website for newdetails.

CGA HEADSCHAMBER

Justin Rigsby,B.Comm, CGA,controller with Alm-Wood Contracting,Campbell River,B.C. has been elect-ed Chair of the B.C.Chamber of Com-merce at their 56thannual generalmeeting in Whistler.

BRUCE HRYCIUK, FCGA, APPOINTED TO BCASSESSMENT

Past CGA-BC President Bruce Hryciuk, FCGA, of Cranbrookand the senior partner of Hryciuk Gallinger, Certified GeneralAccountants has been appointed to the Board of Directors of BCAssessment. Bruce has been a member since 1978, serving asPresident in 1997 and chairing various committees. Nationally,Bruce has served on the Board of the Certified General Accoun-tants Association of Canada (CGA-Canada) from 1995 to 2002and was the Chairman of CGA-Canada in 2001, as well aschairing many national committees. Additionally, Bruce servedas Technical Advisor on behalf of Canada on the Board of theConfederation of Asia and Pacific Accountants from 2003 to2005. Bruce has also served on the Permanent Small BusinessRoundtable for the Province of B.C. from 2005 to 2008 and ispresently serving as First Vice-President of the Cranbrook andDistrict Chamber of Commerce.

Greater Vancouver Food Bank. Mr. Heywood holds his Bache-lor of Arts (Honours) from Queen's University and a Master ofBusiness Administration from the University of British Colum-bia. The lay board member represents the public interest and isa key part of the Association’s governance process. Mr. Hey-wood replaces Victoria Kuhl, who had served for the past sixyears.

University of Calgary Appoints CGAas VP of Finance and ServicesCGA-BC member Gail Stephens, FCGA, has been named

Vice President, Finance and Servicesfor a five-year term at the Universityof Calgary. She had been CEO ofthe British Columbia Pension Cor-poration in Victoria. Stephens hasmany accomplishmentsincluding being recognized asone of Canada's 100 MostPowerful Women and receiv-ing a Women in Finance

award. Prior to moving to B.C., she had previouslyserved at the City of Winnipeg as City Auditor andChief Administrative Officer.

CGA Addresses Skills ShortageWith shortages of trained professionals continuing to be aproblem for the Canadian economy, CGA-BC is keepingahead of the curve by seeking to attract more foreign-trainedaccounting professionals into the CGA program. To build onthat initiative, Student Services Director Bill Johnson, FCGA,has announced the appointment of Simone Leonard, CGA, tothe newly created position of Manager, International StudentDevelopment. She had been Manager of Student Services since2006. Now, she’ll be focused on developing and promotingprograms to boost student recruitment of qualified interna-tional applicants residing in B.C., and those planning to moveto the province.

Replacing Simone as Manager of Student Services will beJenny Chang, CGA. Jenny comes to the Association fromCanfor Pulp Limited (Canadian Forest Products) where shehad the role of Senior Operations Accountant. She has experi-ence in a number of similar industries, and has a strong andbroad range of accounting, administrative and managementexperience.

ou

tl

oo

k

sn

ap

sh

ot

s

39

Past President, Gordon Clissold, FCGA,congratulates Justin Rigsby, CGA, on hiselection as Chairman of the B.C. Chamberof Commerce.

In celebration of the CGA Association’s 100th Anniver-

sary, we at Outlook have been enjoying pouring over the

annals of Association history – taking stock of all we

have accomplished in the last century – and proudly revisit-

ing the inspirational personalities and keystone moments

that defined our organization.

For this issue, we interview William Curry McCalpin,

FCGA, (1906-81), a pioneering figure in the history of CGA-

BC. We have taken creative liberties in imagining how

McCalpin would have responded to some of our regular

PartingShot questions, as well as

some new ones. We hope this

gives you some sense of the life

and times of one of the Associa-

tion’s most celebrated figures.

McCalpin was instrumental in the

formation of CGA-BC, which was

eventually incorporated in April

1951. McCalpin’s undaunted per-

severance in the face of the many

logistical and legal obstacles

blocking incorporation is consid-

ered legendary by many of his

peers and colleagues from the

time. McCalpin served as Presi-

dent of CGA-BC in 1951-52 and

President of CGA-Canada in 1956-

57. Also in 1957, McCalpin was the

first CGA to be granted Fellow

designation for his work develop-

ing the original CGA education

program in partnership with the

University of British Columbia. The W. Curry McCalpin

award, given to the CGA student with the highest examina-

tion average, is named in his honour.

Q What is a favourite book you read in 1951?A Well, it’s been a busy year. It’s been very difficult to find the

time to immerse myself in reading. As you know, we success-fully obtained our Act of Incorporation, which we hopebecomes the model for the rest of the country. It took a lot ofresearch to get the Act passed, so I mainly looked to booksthat would help our second petition: books on the legalitiesof setting up an organization, books on bylaws, professionalconduct and educational programs. In terms of popular literature, my friend Harold Clarke gaveme a copy of that recently-released novel everyone is talkingabout, The Catcher in the Rye by J.D. Salinger, but I haven’thad the time. A few years ago someone told me I bear aslight resemblance to Ernest Hemingway, so admittedly Iremain a fan.

Q What are some of your accomplishments in the last year?A Above and beyond the formation of CGA-BC, I have been very

excited to be developing a new approach to studying account-ing in collaboration with Dr. MacPhee, the new Dean of Com-merce and Business Administration at UBC. This programwill be very innovative, offering a flexible study environmentwith a curriculum of work that will be of the utmost quality,meeting the highest “standard demanded by the Universityand the marketplace.” This program will drastically changethe dynamic of accounting education in Canada, and, Ibelieve, the profession itself.

Q What is the largest issue facing the accounting profession?A We will be defined by new ideas,

new people, and an openness to re-envision how things are done andcan be done. As the 1960s creep upon us, there will be new technolo-gies, procedures and ethical ques-tions that will inevitably emerge inour field. Our approach at the CGA,to diversify our educational pro-grams and expand our member-ship, will undoubtedly leave us in agood position to face the chal-lenges that will be coming up.

Q What is the economic outlook forthe next year?A Things are very promising. We are

experiencing a massive populationgrowth – people are calling it thebaby boom. We’ve seen nothinglike this since the early 1920s. Whatit means for Canada and BritishColumbia is long-term prosperityand continued growth. And manyof these young children will surelybecome CGAs when they grow up.

Q What is your favourite TV show?A There’s a great new show that has started. It’s called “I Love

Lucy.”

Q What is your dream car?A The 1952 Chrysler Custom Imperial. It has hydraulic four-

wheel disc breaks, and something called “power steering.”The car is at once elegant and practical, a functional work ofart, very befitting of all CGA graduates everywhere.

Q Are you planning any vacations? A At this point, rising late on Saturday mornings is the best

vacation: tea, toast, newspaper. As the acting President of theCGA-BC, I anticipate little vacation time as we work to actual-ize our dream of building a second-to-none organization.This weekend, I will be meeting with a committee to plan ourfirst Annual Dinner for the Association that will be held at theHotel Georgia on May 19th. We are expecting almost the fullfleet of our membership (313 in April, 1951).

ou

tl

oo

k

pa

rt

ing

sh

ot

40

P a r t i n g S h o t

ou

tl

oo

k

de

pa

rt

me

nt

1

ou

tl

oo

k

de

pa

rt

me

nt

1

ou

tl

oo

ke

du

ca

tio

na

l f

ou

nd

at

ion

1

I M P O R TA N T I N F O R M AT I O N R E G A R D I N G T H E B O A R D N O M I N AT I O N P R O C E S S

Call for NominationsCGA-BC Board of Governors

Nomination FormsNomination forms, are available to members in the

following ways:

1. On our Website at www.cga-bc.org.

Click on the Nomination Package icon on the home

page.

2. CGA-BC will e-mail a link to the nomination form inPDF format to all members whose e-mail addressesare registered with the Association.

Vacancies for the 2009Board of GovernorsThere will be five vacancies for the 2009 Board of Governors.A candidate must reside in the electoral district for whichhe or she is nominated.

Lower Mainland (District 1)Candidates are requested for four vacancies. All vacanciesare for terms of three years each.

East/West Kootenay (District 5)Candidates are requested for one vacancy for a term ofthree years.

To get your nomination form, visit www.cga-bc.org or call (604) 732-1211 or (800) 565-1211.

NominationForm

For members who intend to nominate an individual candidate:Nominating a fellow member as a candidate for the Board willrequire more than a signature. As in the past, two members arerequired to endorse a candidate and their names are published inthe election material. Now, nominators must also provide a written statement citing the nominee’s specific attributes andqualifications. Further, they must consent to their written statement being disclosed to the membership.

For individual candidates:More detailed information than previously collected will berequired of all candidates, specifically as it relates to past employment, good character, and suitability for leadership. Thisadditional information will also be published to better support themembership in their decision-making. Finally, to verify informa-tion, all candidates will be required to provide their consent andattestations in compliance with best practices.

The Nomination Form provides detailed information about thespecific requirements and what information will be made availableto the membership for election purposes.

Introducing a more comprehensivenomination processBeginning this year, a number of enhancements to the nominationprocess have been adopted to provide more comprehensiveinformation about the candidates seeking election to the Boardand to aid members in their decision-making.

Nomination DeadlineIn accordance with the Bylaws, nomination forms must be submitted to the Secretary no later than 4:30 p.m. on Wednesday, July 30, 2008.

call_for_nominations_2008.qxp 6/4/2008 12:14 PM Page 1