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CPASKConnectTHE INSTITUTE OF CHARTERED PROFESSIONAL ACCOUNTANTS OF SASKATCHEWAN MEMBER NEWSLETTER
December 2014
2 | December 2014 | CPASKConnect
ContentsCPASKConnect December 2014
Suite 101 – 4581 Parliament AvenueRegina, SK S4W 0G3Tel: 306-359-0272 Fax: 306-347-8580Email: [email protected]
CPA Saskatchewan BoardMartin McInnis, FCPA, FCMA (Chair)Blair Davidson, FCPA, FCA (Vice-Chair)Clay Dowling, P. Log. (Public Appointee)Doug Kosloski, Q.C. (Public Appointee)Diana Adams, CPA, CAJohn Amundson, FCPA, FCAGlen Bailey, FCPA, FCARegan Exner, CPA, CGAGayle Holman, FCPA, FCMABob Kenny, FCPA, FCABob Korol, CPA, CMAJan McLellan Folk, FCPA, FCMAMike Pestill, CPA, CMAAdynea Russell, CPA, CAJames Salamon, FCPA, FCA, CFPLaurie Thomas, CPA, CMA
CPASKConnect
Content ContributorsMyrna ButtnerSue James
Editorial Services provided by: Martin Charlton CommunicationsLyle Hewitt, Managing Director300-1914 Hamilton Street Regina, SK S4P SN6Tel: 306-584-1000, Fax: 306-584-5111Email: [email protected]
Design and Layout: Jo Anne Lauder Publishing & Design300-1914 Hamilton StreetRegina, SK S4P SN6Tel: 306-522-8461 Email: [email protected]
Notes from the Leadership 3_____________________________
Unification in Saskatchewan Update 6_____________________________
Unification Cross Country Update 7_____________________________
Regulatory Matters 9_____________________________
Professional Development 10_____________________________
Member Spotlight 11_____________________________
Joint CGA/CMA Convocation 2014 12_____________________________
News & Events 15_____________________________
Tools & Resources 16_____________________________
Professional Updates 19_____________________________
Did You Know? 20_____________________________
The Institute of CharteredProfessional Accountants of Saskatchewan
CPASKConnect | December 2014 | 3
You can give back to the profession by volunteering with CPA Saskatchewan. Weare looking for volunteers to sit on our regulatory and advisory committees.
Please contact Sara at [email protected] for more details, if you are interestedin donating some of your time and expertise to one of our CPA committees.
Notes from the Leadership
MARTIN MCINNIS, FCPA, FCMA, CHAIR OF THE CPA SASKATCHEWAN BOARD
At Last, Unification is Finally and Officially Here!
PROCLAMATION OF THE ACCOUNTING PROFESSIONACT BY THE LIEUTENANT GOVERNOR occurred Novem-ber 10, 2014, and that was the last step required to finalize
the merger of our three legacy accounting bodies under the CPAbanner.
With the legislation now in force, members can begin the transi-tion to using the new CPA designation (keep in mind that “tagging”is required). Many other aspects of the process of harmonizing thelegacy organizations are already well underway. We have movedinto new CPA Saskatchewan headquarters in the Harbour Landingneighbourhood of Regina, staff from the legacy organizations arenow working together under one roof, and our staff have made ex-cellent progress integrating member files and databases while con-tinuing to deliver their typical gold standard service to members.
Our progress has not been limited only to harmonizing the piecesfrom our past. Our future is dependent on producing new, topquality, accounting professionals and your organization has donea remarkable job keeping focused on our members and candidates,many of whom were part way through legacy programs, through-out the distractions of the merger. We recently held our first everCMA/CGA (or should I say “CPA, CMA” / “CPA, CGA”) joint con-
vocation and we also had a record-breaking number of studentswrite the CA Uniform Final Evaluation. Convocation for these new“CPA, CA” members will occur in early 2015. We are very muchlooking forward to unified convocations in the future once alllegacy body candidates have finished their programs.
With these first building blocks of unification now in place, yourCPA SK board has turned its attention to the future. Recent meet-ings of the Board have been focused on strategic initiatives, de-signing and implementing effective Board and organizationalgovernance practices, and looking ahead to the challenges and op-portunities that come with our new, larger and stronger, organi-zation.
In closing, I would like to thank all of the members of our legacyorganizations who have given their support to the unificationprocess. As well, thank you to those members who have recentlyvolunteered to serve on the various committees of the Board. Yourinvolvement is essential to our success in carrying out our self-reg-ulation responsibilities and your commitment to our organizationis very much appreciated!
Best wishes to all for a Merry Christmas, a joyous holiday season,and a prosperous New Year.
The CPA Saskatchewan newsletter ischristened with a nameOver the past several months we had asked the membership forsuggestions of a name for the CPA Saskatchewan newsletter. Inthe last issue we posted all the suggested names and asked youto vote for your favorite. After the final tally – it was close –
CPASKConnectwas the winner! Thank you to all members who submitted theircreative suggestions.
What would you like to see?Feel free to email us at [email protected] with suggestions of arti-cles you would like to see in future newsletters.
Wanted: Volunteers!
4 | December 2014 | CPASKConnect
Notes from the Leadership
CHAIRMARTIN MCINNIS,FCPA, FCMAMcDougall Gauley LLP,Saskatoon
VICE-CHAIRBLAIR DAVIDSON,FCPA, FCAErnst & Young LLP,Saskatoon
PUBLIC APPOINTEEDOUG KOSLOSKI,Q.C.Crown InvestmentsCorporation ofSaskatchewan,Regina
PUBLIC APPOINTEECLAY DOWLING, P. LOG.Ghost TransportationServices, Saskatoon
DIANA ADAMS, CPA, CAKPMG LLP, Regina
JOHN AMUNDSON, FCPA,FCACrown Investments Corporationof Saskatchewan, Regina
GLEN BAILEY, FCPA, FCAPricewaterhouse Coopers LLP,Saskatoon
REGAN EXNER, CPA, CGAMNP LLP, Regina
GAYLE HOLMAN, FCPA,FCMANorth West Terminal Ltd.,Unity
BOB KENNY, FCPA, FCABusiness Furnishings (Sask.)Ltd., Saskatoon
BOB KOROL, CPA, CMATCU Place, Saskatoon
JAN MCLELLAN FOLK,FCPA, FCMAAlliance Energy Ltd., Regina
MIKE PESTILL, CPA, CMATechnical & Trades Branch,Ministry of AdvancedEducation, Regina
ADYNEA RUSSELL, CPA,CAMNP LLP, Regina
JAMES SALAMON, FCPA,FCA, CFPSalamon Ratzlaff GroenwoldChartered Accountants,Saskatoon
LAURIE THOMAS, CPA,CMACameco Corporation,Saskatoon
CPA Saskatchewan BoardWe are pleased to present the members of our CPA Saskatchewan Board:
Board Members:
CPASKConnect | December 2014 | 5
BEFORE WE LOOK FORWARD, I would like to reflect on thepath that led us here. We began with initial discussions in2011 leading to the unification agreement signed by all three
legacy bodies in Saskatchewan in 2013. The new legislation, TheAccounting Profession Act (Saskatchewan), was introduced in theLegislature in 2013 and proclaimed by the Government ofSaskatchewan on November 10, 2014. CPA Saskatchewan was of-ficially established representing more than 5,000 members andcandidates.
There are many thank yous that need to be made: to the legacycouncils and board members who had the foresight and courageto consider such a significant change; to the Transitional SteeringCommittee members who patiently shaped the direction of the fu-ture CPA Saskatchewan; to all of our members who engaged in theprocess, attended information sessions, participated in the mem-ber votes and helped us forge a new path; to the Government ofSaskatchewan officials who we worked with to draft the Legisla-
tion and Regulatory Bylaws and ultimately the proclamation of thelegislation; and to the staff of the three legacy accounting bodies,for their hard work, their enthusiasm and positive attitudes.
It is very exciting to finally be CPA Saskatchewan. We have inte-grated our staff into one new CPA Saskatchewan team and havemoved into our new office space in Regina. While we have the ex-citement of everything new, we also are working diligently to helpthe members and candidates with the transition to the new re-quirements. The new CPA Saskatchewan team is an incrediblydedicated and talented group.
We look forward to welcoming you into our new office and work-ing with all of our members to achieve the goals of CPA Saskat-chewan.
On behalf of the CPA Saskatchewan team, we wish you the best ofholidays and a happy new year.
Notes from the Leadership
SHELLEY THIEL, FCPA, FCA, CEO OF CPA SASKATCHEWAN
Welcome to CPA Saskatchewan and Our First Official NewsletterUnder the CPA Banner.
ON NOVEMBER 26, 2014, the board of the CPA WesternSchool of Business (CPAWSB) announced that SteveVieweg, FCMA, has been named as the inaugural CEO for
the newly established school, effective January 5, 2015.
“After an exhaustive search process, the board is incrediblypleased with this result,” said Nola Joorisity, FCPA, FCA, CMA,CPAWSB board chair.
“Steve’s comprehensive background in board governance and sen-ior leadership experience in the not-for-profit sector will be criticalas we work to establish the new school, provide a smooth transi-tion for our CPA candidates, and ensure value for our provincialpartners.”
Vieweg joins CPAWSB after serving as the director of executiveprograms for the Asper School of Business at the University ofManitoba, where he was responsible for establishing and execut-ing the strategic direction of the executive programs, including de-veloping competency frameworks with employers and ensuringthat faculty delivered the appropriate education and training.Vieweg is also the past president and CEO for CMA Canada and
held leadership roles at CMA Manitoba, including director of ed-ucation and CEO. Through his work at CMA Canada, Vieweg pro-vided leadership to a membership of 40,000 CMAs, 10,000students, 1,400 volunteers and 12 provincial and territorial affili-ates.
“Steve has the perfect blend of experience in education and theprofession. This is vital in understanding the role the new schoolwill play within western Canada, as well as ensuring that its oper-ations and program delivery are in line with a world-class educa-tional entity,” said Joorisity.
“We look forward to working with him and his team over the com-ing months to get CPAWSB fully established and operational.”
Vieweg received the Certified Management Accountant (CMA)designation in 1984, and earned his MBA from Syracuse Univer-sity in 1989. He was pursuing his Doctorate in Business Adminis-tration at the University of Manchester and his studies focussedon innovation culture in the not-for-profit sector. Vieweg becamea Fellow of CMA Canada in 2003, and was awarded his CMA LifeMembership in 2014.
New CEO Announced for CPA Western School of Business
6 | December 2014 | CPASKConnect
Unification in Saskatchewan Update
November 10, 2014, was a historic day for the accounting profession in Saskatchewan –The Institute of Chartered Professional Accountants of Saskatchewan (CPA Saskatchewan)was formally established with the proclamation of The Accounting Profession Act(Saskatchewan) by the Government of Saskatchewan.
This was a momentous milestone for the accounting profession, as ICAS, CGA SK andCMA SK have become one professional body representing over 5,000 members, candidates(including legacy body students) and over 200 firms in Saskatchewan. We are also nowone of the largest professional bodies in the province.
Historic day in Saskatchewan CPA SaskatchewanHead OfficeInformationThe staff members of the legacy bodiesare now working together as CPASaskatchewan in our new head office inRegina:
CPA SaskatchewanSuite 101 – 4581 Parliament AvenueRegina, SK, S4W 0G3Main Line: 306-359-0272 Fax: [email protected] www.cpask.ca
Next StepsPlease keep an eye on your email inbox inthe coming weeks and months on perti-nent information to the accounting pro-fession in our province as we moveforward as CPA Saskatchewan. In themeantime, if you have questions on theabove, please contact CPA Saskatchewanat [email protected] or 306-359-0272.
We are excited to be building Canada’sand Saskatchewan’s pre-eminent account-ing and business designation.
What Does This Mean for You, as a Member?Use of Legacy Designations – Tagging
All ICAS, CGA SK and CMA SK members shall now include CPA with their legacy desig-nation and call themselves Chartered Professional Accountant. For a period of tenyears all ICAS, CGA SK and CMA SK members are required to include their legacy des-ignation in combination with CPA, with the CPA appearing first. For example:
• John Smith, CPA, CMA or John Smith, FCPA, FCMA
• John Smith, CPA, CGA or John Smith, FCPA, FCGA
• John Smith, CPA, CA or John Smith, FCPA, FCA
New CPA CertificateA new certificate will be issued to you in the coming months. However, you arepermitted to keep your legacy designation certificate.
More details will follow on the guidelines of the use of the CPA designation and logo butin the meantime we encourage you to include CPA on your business card, email signatureand online profiles. Be proud that all professional accountants in Saskatchewan are nowunited under one designation – the CPA. As one designation, members will benefit fromconsolidated marketing of the accounting profession, will have one voice advocating formembers’ best interests, one educational pathway, one body for self-regulation and wewill eliminate confusion in the marketplace about the different designations.
CPASKConnect | December 2014 | 7
Unification Cross Country Update
CPA Prince Edward Islandlegislation receives passage
The CPA Prince Edward Island Over-sight Committee announced thatprovincial legislation to formalize theunification of the three accounting bod-ies into CPA Prince Edward Island waspassed on November 27, 2014, in thePrince Edward Island Legislature. Thislegislation outlines the standards thatwill define CPA Prince Edward Island asa professional self-governing body.
Although the Chartered ProfessionalAccountants and Public AccountantsAct has received passage in the Legisla-ture, it will not come into force untilproclamation at a later date.
The existing accounting bodies will con-tinue to work together to complete thetasks necessary to ensure a smoothtransition to the new organization. Oncethe legislation is proclaimed, CPAPrince Edward Island will be officiallycreated and members will be notifiedand provided with guidelines for the useof the CPA.
Unification legislation introduced inAlberta Legislature
The Chartered Professional Account-ants Act was introduced on November25, 2014, in the Alberta Legislature.This is a monumental step for the ac-
counting profession in Alberta as theywork towards unification.
When passed and proclaimed, the Actwill replace the current Regulated Ac-counting Profession Act as the legisla-tion that governs the designatedaccounting profession in Alberta. Thenew legislation (when proclaimed) willalso establish the Chartered Profes-sional Accountant (CPA) designation inAlberta.
It is anticipated that the Act will bepassed before the end of the calendaryear. Following that milestone, a mem-ber review and vote on new regulations,bylaws and rules of professional con-duct for the CPA profession in Albertawill be conducted. This voting processwill provide members with the opportu-nity to help finalize the unificationprocess and obtain the proclamation ofthe CPA legislation, the final step re-quired to complete the process.
Until the legislation is passed and pro-claimed, Alberta members are not al-lowed to use the CPA designation. Theyshould continue to use their legacy des-ignations until legislation is proclaimedin 2015.
New CEO Announced by AlbertaAccountants Unification AgencyBoard
The Co-Chairs of the Alberta Account-ants Unification Agency (AAUA) an-nounced on November 21, 2014 thatRachel Miller, FCA, has been named bythe AAUA Board as the AAUA’s newChief Executive Officer. Rachel’s ap-pointment is effective January 1, 2015.
Miller was chosen in a unanimous
Board vote. Her selection followed anexhaustive search process to find a CEOto lead the AAUA through the finalstages of the process to unify the desig-nated accounting profession in Alberta,and to build the unified regulatory bodyunder the CPA banner.
Miller brings demonstrated skills andexperience in leading organizationsthrough change and growth. As well, shehas superior strategic abilities and tech-nical competencies, both of which willbe vital to success in leading the organ-ization at this stage of its evolution andbeyond. Rachel is an experienced andrespected team-builder and the AAUAare confident that she will represent theprofession and its membership with dis-tinction and success.
Miller has served as the CEO and Exec-utive Director of the Institute of Char-tered Accountants of Alberta (ICAA)since February 2013, and has been anenergetic champion of unification. Priorto becoming CEO, she served as Direc-tor of Practice Review at the ICAA forapproximately seven years. Before join-ing the ICAA, Rachel worked in publicpractice in Ontario and Alberta afterearning her designation in 1999.
The co-chairs also thanked outgoingAAUA CEO John Carpenter FCGA forhis contributions. As transitional CEO,Carpenter led the organization and pro-fession through profound change in thepursuit of unification. During this time,Carpenter used his depth of experience,knowledge and wisdom to create a high-performing and committed organiza-tion, and to guide the profession towardsuccessful unification.
8 | December 2014 | CPASKConnect
Unification Cross Country Update
CPA Newfoundland and Labradorlegislation receives passage
The CPA Newfoundland and LabradorTransitional Steering Committee waspleased to announce that provincial leg-islation to formalize the unification ofthe three accounting bodies and thePublic Accounting body into CPA New-foundland and Labrador was passed onNovember 24, 2014, in the Newfound-land and Labrador Legislature. This leg-islation outlines the standards that willdefine CPA Newfoundland and Labra-dor as a professional self-governingbody.
According to Dorothy Keating, FCA,Chair of the CPA Newfoundland andLabrador Transitional Steering Com-mittee “this is a historic day for the ac-counting profession in our province.Newfoundland and Labrador is the fourthjurisdiction in Canada to pass the nec-essary legislation.”
CPA Newfoundland and Labrador willrepresent over 1,400 professional ac-countants across the province, as wellas approximately 200 students. New-foundland and Labrador members joinCanada’s more than 190,000 accountingprofessionals who are coming togetherto form the new Chartered ProfessionalAccountant designation.
Although the Chartered ProfessionalAccountants and Public AccountantsAct (Bill 27) has received passage in theLegislature it will not come into forceuntil proclamation on January 9, 2015.
Before the official creation of CPA New-foundland and Labrador and the com-plete unification of the four bodies, thereare a number of tasks to be undertaken.The existing accounting bodies will con-tinue to work together to complete thesetasks to ensure a smooth transition to
the new organization. Once the legislationis proclaimed, CPA Newfoundland andLabrador will be officially created andmembers and firms will be notified andprovided with guidelines for the use ofCPA.
CPA Manitoba Joint Venture an-nounces introduction of legislation
The CPA Manitoba Joint Venture an-nounced that the Chartered ProfessionalAccountants Act was introduced on De-cember 1, 2014, in the Manitoba Legis-lature. This is a significant step for theaccounting profession in Manitoba.
When passed and proclaimed, the new
legislation will establish the CharteredProfessional Accountant (CPA) designa-tion in Manitoba. The Act will replaceThe Chartered Accountants Act, TheCertified Management Accountants Act,The Certified General Accountants Actand The Certified Public AccountantsActwhich currently govern the designatedaccounting profession in Manitoba.
The Act is expected to receive Royal As-sent in the spring of 2015. Once a newboard is established and bylaws are ap-proved, the legislation can be proclaimedinto law.
Manitoba members are required to con-tinue use of their legacy designationuntil the legislation receives Royal Assent.A comprehensive communication planwill be provided to members followingproclamation.
It’s Official! 190,000 PROS, One DesignationOctober 1 marked the final step in the creation of CPA Canada—Canada’s sole nationalaccounting body created through the consolidation of operations of three national account-ing organizations: the Society of Management Accountants of Canada, the Certified Gen-eral Accountants Association of Canada and the Canadian Institute of Chartered Account-ants.
With nearly 400 employees across four locations and a member-base of more than190,000 professional accountants, CPA Canada is now one of the largest national account-ing bodies in the world. That gives Canadian professional accountants a unified voice –and one with tremendous influence both nationally and internationally.
The historic occasion resulted in congratulations from many Canadian and internationalleaders, including Canada’s federal ministers of Finance and National Revenue andFormer Auditor General of Canada Sheila Fraser, among others.
View the congratulations as they appeared in The Globe and Mail, the National Postand Les Affaires.
CPASKConnect | December 2014 | 9
Regulatory Matters
CPD Requirements
The minimum hours requirement for CPD in Saskatchewan is thestandard as set by CPA Canada, which is currently 120 hours everythree years and 20 hours annually. The requirement for verifiableCPD is 60 hours every three years and 10 hours annually.
Guidance on what is verifiable and what is unverifiable CPD is inRegulatory Board rules 345.1 and 345.2.
Rules can be found at www.cpask.ca under Governing Docu-ments.
Cycle and Reporting
CPD runs on a rolling three year cycle. A new three year cycle be-gins on January 1, 2015.
To report on the cycle ended December 31, 2014, please file yourdeclaration by February 15, 2015.
Exemptions
If you were granted an exemption from a legacy body for all orportion of your CPD, the exemption will expire on December 31,2014.
An exemption for CPD under CPA Saskatchewan for January 1,2015 through December 31, 2015 will be filed in the new CPA re-porting tool, available starting February 2015.
CPD Audit
All members are eligible for an audit of their reported CPD, anddocumentation of CPD should be maintained for a minimum offour years as required under Regulatory Board rule 345.5.
Continuing Professional Development(CPD) under CPA Saskatchewan
RulesAll registrants (members,candidates and firms) areresponsible to comply withthe rules, which include theAct, Bylaws, Board Rulesand the Uniform Rules ofProfessional Conduct.
Copies of each are availableat www.cpask.ca.
Stay Up to Date!Please ensure any changes to your member infor-mation, such as, name, address, employer or emailare communicated to CPA Saskatchewan within 30days of the effective date of any change.
Communications from CPASaskatchewanSince November 10, 2014, several messages have gone out to reg-istrants (candidates, members and firms) via email and mail onthese topics:• The use of designation by members and honorary members• Links to the rules of CPA Saskatchewan• Candidates’ rights and obligations• Information for firms regarding transitional provisions, nam- ing requirements and professional liability insurance require- ments• Members and firms identified as licensed members and firms • Guidelines for seeking name approval with ICS as a professional corporation• Continuing Professional Development reporting requirements, including information on exemptions.If you have missed a message that is relevant to you, please ensurethat you contact the Institute at (306) 359-0272 or [email protected] and update your contact information. We requireyour current email and mailing address in order to keep you up todate on the CPA requirements.
The 2014/15 Fall/Winter PD is in full swing. To date we have had over 1,900 registrations for the over100 classes that are scheduled. The program still has plenty of classes to offer between now and March.Here’s a sample of the wide variety of classes being offered in the new year:
To view the full PD calendar and to register for courses, please visit the PD page on the CPASaskatchewan website. For more information you can also contact Rhonda at [email protected].
10 | December 2014 | CPASKConnect
Regulatory Matters
The objective of prac-tice inspection that hasbeen adopted by theprovincial institutes ofChartered Accountantsand the Quebec Ordreof Chartered Profes-sional Accountants is“the protection of thepublic by assessing thecompliance with pro-fessional standards of
members/firms that perform assurance, compilation and otherspecified engagements, and by taking appropriate follow-up or re-medial action in instances of non-compliance. The public is furtherprotected by practice inspection providing an educational experi-ence to members/firms.”
This was the third year of full implementation of the harmonizedevaluation methodology across the country. The harmonizedmethodology provides for a consistent approach to practice in-spection in all provinces and the use of consistent terminologythroughout. Harmonization allows the provincial bodies to mon-itor statistics such as common deficiencies and practice inspectionresults across the country and identify areas where improvementsor training could be required.
Inspected offices are provided with matters identified during the
course of the inspection as either reportable deficiencies (re-portable to the practice appraisal committee (PAC)) or non-re-portable matters (items brought only to the attention of theinspected office and not to the PAC). The office is strongly encour-aged to respond to the PAC by stating how it will address the re-portable deficiencies identified by the inspector. The PAC will thenassess the reportable deficiencies and the office’s response to de-termine if any further action is required.
The PAC reviews the provincial annual inspection results for Char-tered Accountant and Certified Management Accountant practiceoffices, as well as the common deficiencies determined from the na-tional monitoring of statistics, to identify those areas where adher-ence to Handbook recommendations could be improved. Thismemo outlines the common reportable deficiencies in the areas offinancial statement presentation; documentation of audit, reviewand compilation engagements; and documentation and implemen-tation of quality control policies and procedures noted during the2013-2014 inspection cycle. The memo also highlights upcomingchanges and current projects which practitioners should be awareof in planning for upcoming engagements.
To assist practitioners in finding guidance on current and upcom-ing standards, the appendix lists helpful resources and tools thatcan be used to obtain an understanding of and comply with thevarious requirements.
To view the full report and appendix please click here.
Professional Development
Focus On Practice Inspection Reportable Deficiencies
PD Update
• ASPE: Accounting Update for Members in Industry
• Winning Edge Negotiation Skills
• Time Management for 21st Century
• Controllership: A Partner for Business
• Enough Bull: How to Retire Well Without the Stock Market
• Crushing Debt
• Income Tax Planning Refresher – Corporate
• Excel Advanced
CPASKConnect | December 2014 | 11
In thIS ISSuE, Connect ChAttED wIth kEnt CAmPBELL,CPA, CMA, Deputy Minister of Intergovernmental Affairs withthe Government of Saskatchewan.
Tell us about your personal background. Where are youfrom? Where did you go to school?
I was born and raised in Regina and got most of my educationhere. I went to Campbell Collegiate before going on to take twoundergraduate degrees at the U of R. I got my MBA from Queen’sUniversity before coming back to Saskatchewan to get my CMA afew years later.
What were you into at Campbell?
I played a lot of soccer. I clearly wasn’t destined to be a profes-sional athlete but enjoyed the games. Back then, we played in thecity league in which there were only two other teams and not verymany other teams around the province. These days, the sport’spopularity has grown tremendously.
You mentioned two undergrad degrees. What were they?
I studied administration straight out of high school but, when Igraduated in the early 1990s, there weren’t many jobs inSaskatchewan so I took a second degree in general liberal arts –things like philosophy and economics. I enjoyed it very much butultimately just wanted to get a decent job.
By the time I got my MBA in the mid-1990s, the economy had im-proved somewhat and I started working for the provincial govern-ment at Treasury Board with Saskatchewan Finance.
From there, I worked up the ranks through various departments.I was CEO of the Saskatchewan Forestry Secretariat. I was namedDeputy Minister (DM) of Energy and Resources in 2008, becameDM of the Ministry of the Economy in 2012 and then moved to mycurrent position this year.
So, you didn’t start off as an accountant. What inspired youto pursue the profession?
Once I’d been working full-time for a few years, I felt I needed tostrengthen the quantitative side of my brain. I pursued the ac-counting designation because, as I see it, accounting and financeare the languages of business.
These days, while I don’t do a lot directly with financial state-ments, I still find my accounting training very useful in under-standing, assessing and improving organizational performance.
What do you feel was your single greatest accomplishmentin your career?
I was proud of what my team and I accomplished when we formedthe Ministry of the Economy. For the first time in recent memory,we brought together the government’s major economic, resourceand labour market development functions under one roof. Theeconomy was a hot topic so we were being watched closely andthere were high expectations. The ministry has been in place fortwo and a half years now and has performed well. I learned a lotabout change management through that process. In particular, Ilearned about the importance of having regular and consistentcommunication with staff and stakeholders when undertaking achange process on that scale.
Who has had the greatest influence on your life and career?
On the professional level, I’ve had the privilege to work with manygreat mentors in the civil service but two stand out. Larry Span-nier, whom I worked for at Finance and Economic Development,was the first to show significant confidence in me and to grant mea significant degree of autonomy in leading projects. I also owe agreat deal to Dan Perrins, former DM to the Premier, under whomI was first named a permanent head. That was a risk for him as Iwas still very young in civil service terms. I like to pay that backby encouraging young professionals whenever I can and by pro-viding seminars to public policy students at the universities whenI have the opportunity.
As for my personal mentors, my parents were both fantastic rolemodels for me. They were always very careful to let me choose myown path. My dad was an engineer and, after I graduated from ad-ministration, he took me out for lunch. It was then and only thenthat he told me he wished I had gone into engineering.
I also draw a lot of inspiration from my wife, Janice. She runs herown consulting business. I not only admire her entrepreneurialspirit and business acumen but she has also given me an impor-tant window into the daily struggles of small business owners.That has helped me to stay grounded when dealing with economicpolicy matters on the bureaucratic level.
Member Spotlight
Kent Campbell, CPA, CMA
12 | December 2014 | CPASKConnect
Joint CGA/CMA Convocation 2014
The SaskatchewanProfessional AccountantsJoint Venture hosted theJoint Convocation ofGraduates and AwardsPresentation on Saturday,November 1, in Regina,at the Radisson PlazaHotel Saskatchewan.
At this historic ceremony, 38 CertifiedGeneral Accountants and 59 CertifiedManagement Accountants received theircertificates. Congratulations to all ourCGA and CMA graduates!
The CPA Canada Message was deliveredby Lorri Lowe, FCPA, FCMA, Chair of theCMA Canada Board. After, MLA RussMarchuck; Dr. David Senkow, CPA, CGA,Associate Dean, Academic, Faculty ofBusiness Administration, University ofRegina; and Dr. Regan Schmidt, CPA,CA, Assistant Professor, Edwards Schoolof Business, University of Saskatchewan,brought greetings at the ceremony, whichwas chaired by Bob Korol, CPA, CMA.The Convocation Address was deliveredby Martin McInnis, FCPA, FCMA, Chairof the CPA Saskatchewan Board of Direc-tors.
The presentation of CGA certificates wasmade by Rob Stephanson, FCPA, FCGA,member of the CGA Canada Board asGovernor for Saskatchewan, Yukon andNWT. The CMA certificates were pre-sented by Lorri Lowe, FCPA, FCMA andMartin McInnis, FCPA, FCMA.
2014 CMA GraduatesMurtoba Ali, B.Com., M. Com., CMAJason R. Allen, B.Comm., CMAMitchell Peter Arsenault, BBA, CMARichard Azinwi, B.Sc., MBA, CMACody T. Bradley, BBA, CMAJill L. Bruce, BBA, CMAKelli Bzdel, BBA, CMAYiqiu Sherry Chen, M.Hr., CMADeann J. Dickin, Dip. B.A., BBA, CMAMichael Diewold, BBA, CMAKerri L. Duxbury, Dip.A.A., CMAKyron K. Eberle, BBA, CMAKaren L. Edwards, Cert.Admin., CMAIsagani T. Fabi, B.Comm., CMAVincent K. Goodvoice, Dip.A.A., Cert.IBA, CMARohit Kumar Gupta, Cert. Bus., Dip.Acct., CMAThomas J. Hayes, Dip.A.A., BBA, CMALindsay Anne Marian Hill, B. Comm., CMAJames A. Horsman, B.Comm., CMAJordan J. Huber, BBA, CMAEvan C. Jones, B. Comm., CMAPam K. Kilgour, B.A. Adv. Econ., Cert. Acct., CMAJoshua S. Kramer, BBA, CMARichard J. Lalonde, B.Comm., CMANicole L. Lamb, BBA, CMAKelly A. Leahy, B.Comm., CMAChengzhao Caroline Li, B.Comm., CMAMaggie Liu, BBA, Cert.Comp.Sc., CMAKyara L. Loranger, B.Comm., CMACindy Mak, B.Admin., CMAKelsey D. Millard, B.Mgt., CMAChristopher M. Mozell, BBA, CMAJordan P. Nattress, B.Comm., CMAAmy L. O'Connell, B.Mgt., CMABrittney E. Orban, BBA, CMATimothy M. Pilot, B.Comm., CMALara B. Reid, B.Comm., CMASaleem Sandhu, MSc., BAS, MBA, CMAMark A. Sather, Dip.A.A., CMAJason M. Schmidt, BBA, CMAMarshal Theodore Sellsted, BBA, CMAMegan D. Sigmeth, Dip.A.A., BBA, CMAAngela L. Smart, BBA, CMANeil R. Sonder, BBA, CMARayon S. Stewart, Dip.B.Admin., B.Sc. (Jamaica), CMAWei Rainy Sun, BBA, CMASavannah M. Taylor, B. Comm., CMAGarrett J. Vey, BBA, CMAAaron T. Wanner, BBA, CMALance P. Zacharias, B.Comm., CMA
Joint Executive CMA Program
Jeff T. Dumba, B.Sc. Physics, MA Econ., CMAMewael Eyob, B.Admin., MBA, CMANeil S. Kish, B.Admin., CMAJason Q. Lien, B. Admin., Cert. Comp. Sc., CMAArita J. McPherson, BSA, CMAAngela A. Schmidt, B.Sc., MBA, CMAMark H. Smith-Windsor, B.A., CFA, CMAKevin W. Thompson, B.A. Econ., B.Comm., MBA,CMALori J. Uhersky, B.Admin., CMA
2014 CGA GraduatesShahzad A. Abbasi, ACA, CGAKara Baker, B.Comm., CFP, CGACurtis Blixt, B.Sc., CGALindsay Botterill, B.Comm., CGABrad Casavant, BSKin, CGASusan Chung, MSBA, BSC, CGAChelsea Dreger, BA, BBA, CGAJennifer Durand, H.B.Com., CGASarah Friswell, H.B.Com., CGAAiwen Emily Guan, BBA, CGAZhiwei Jerry Guo, B.Comm., CGAPaulos Hailemichael, BA, CGADianna Head, B.Comm., CGAShauna Hubick, B.AppAdm., CGAMichael Ihekuna, MBA, CGAMelina Lee, BA, CGASherley Dela Cruz Lorezca, MBA, CGAAmarjit Mahil, B.Com., CGAArvind Dhaliwal Malhi, BBA, CGAMahnaz Malik, MPAcc, CGAJeffrey Moon, H.B.Com., CGAKirbie Mosewich, B.Comm., CGAOlayinka Olaloku, B.Sc., CGAHyun Joo Andy Park, B.Comm., CGAJason Pilot, B.Comm., CGASheila Pion, B.Sc., CGATodd Robertson, B.Sc., B.Comm., CGADavid Schmid, BA, CGADaniel Smela, BBA, CGACarol Sylvestre, H.B.Com., CGAKathryn Tian, B.Eng., CGARyan Vanstone, H.B.Com., CGAJason Williamson, B.Comm., CGATerra A. G. Wilson, H.B.Com., CCP, CGAJie Karen Yang, B.Comm., CGALili Zhang, B.Eng., CGAQiong Zhu, BFE, CGAXiaoshu Claire Zhu, B.Comm., CGA
CPASKConnect | December 2014 | 13
2014 CMA Graduates
2014 CGA Graduates
Congratulations
14 | December 2014 | CPASKConnect
Joint CGA/CMA Convocation 2014
The next order of business was the presentation of provincial awards:
CGA Saskatchewan Awards
STUDENTS IN NEED• Ashley Geiger• Oluwashola Oladipo• Colin Wilson
PAST PRESIDENTS AWARD• Levi Derksen
TONY DUCIE FINANCIAL ACCOUNTING STREAM SCHOLARSHIP• Alanna Napper
HOWARD JANSEN GENERAL FUND MANAGEMENT ACCOUNTING STREAMSCHOLARSHIP• Levi Derksen
KGR MEMORIAL SCHOLARSHIP• Ashley Geiger
LEVEL 2 SCHOLARSHIP• Alanna Napper
CMA Saskatchewan Awards
CMA PRESIDENT’S GOLD MEDALS• Kyara Loranger, CPA, CMA• Mark Sather, CPA, CMA
SLP TEAM ACHIEVEMENT AWARD 2014• Jill Bruce, CPA, CMA• Kelli Bzdel, CPA, CMA• Kyron Eberle, CPA, CMA• Evan Jones, CPA, CMA• Mark Sather, CPA, CMA
The ceremony ended with the valedictorian speeches. The valedictorians were DiannaHead, CPA, CGA for the CGA class and Mark Sather, CPA, CMA for the CMA class.
Following the ceremony, a convocation dinner and dance was held, chaired by ReganExner, CPA, CGA. After dinner, toasts were delivered and introductions were made.
Everyone celebrated with music and conversation.
CPA Saskatchewan congratulates all our graduates and award winners. Thank you to allthe family members, employers and friends of the graduates who attended the convoca-tion events. They made the day a very special occasion.
Uniform FinalEvaluation ResultsCongratulations to the successful can-didates of the 2014 CA Uniform FinalEvaluation (UFE). This year saw arecord-breaking number of 102 can-didates in Saskatchewan successfullycomplete the UFE. Candidates whohave passed the UFE will be eligibleto receive their CPA, CA designationonce they have completed their prac-tical experience requirements withapproved training offices.
Special congratulations to KatelleHalpape of Regina who was amongthe 51 writers in Canada to place onthe National Honour Roll. Thirty of51 national honour roll recipientswere CASB candidates.
“This year, we have 1,342 successfulUFE writers in western Canada. Wecongratulate them on this accom-plishment, and recognize the hardwork that they have invested to mas-ter the skills and competencies thatwe expect of new professional ac-countants. They represent the brightfuture of the profession, and we wishthem all the best as they progress intheir careers,” said J. Scott Palmer,CPA, FCA, ICD, Interim CEO of theCPA Western School of Business.
The achievements of our successfulUFE candidates will be celebrated atthe 2015 Convocation on February 7,2015 at TCU Place in Saskatoon.
CPASKConnect | December 2014 | 15
News & Events
Kudos to…
• merlis Belsher, CPA, CA, LLB, on receiving the University of Saskat- chewan Alumni Association’s 2014 Alumni Achievement Award.
• Carrie Brown, CPA, CA, on her admission to partnership with De- loitte LLP in the Cayman Islands.
• Kent Campbell, CPA, CMA, on his appointment as Deputy Minister of Intergovernmental Affairs.
• Dick Carter, FCPA, FCA, on being appointed as Director of the Board for the Pacific & Western Bank of Canada.
Member RequirementsIf you have any questions on CPASaskatchewan member requirementsplease email us at [email protected].
Sponsorship EventsThe following are events that CPASaskatchewan has sponsored and par-ticipated in recent months:
• University of Saskatchewan Edwards School of Business Formal Saskatoon – October 21st
• University of Regina Accounting Fellowship Dinner Regina – October 22nd
• University of Regina Annual Hill Business Dinner Regina – October 30th
• Saskatchewan Polytechnic Business and Industry Dinner Moose Jaw – November 27th
CPA Staff on CampusThe CPA program will be promotedto students at these upcoming aca-demic events:
January 20, 2015University of Regina, Campus Visit
January 28, 2015University of Saskatchewan, Edwards Networking Event
February 11, 2015 University of Regina, Campus Visit
March 18, 2015University of Regina, Campus Visit
Memorials
It is with regret that we note with sorrow the passing of:
Wolfgang Langenbacher, CPA, CMA from Regina.
Our thoughts are with his family and friends.
Upcoming Events
January 2015
Member Open House
CPA Saskatchewan will host an Open House at its offices at 101 – 4581 ParliamentAvenue, in Regina. All CPA members are most welcome to attend and meet theCPA provincial staff and tour our new office space. Please stay tuned for the dateto be confirmed and for more details.
February 7, 2015
Convocation in Saskatoon
The 2015 CPA Convocation for legacy CA Candidates will be held on Saturday,February 7, in Saskatoon at TCU Place. For details including registration, pleasevisit the CPA SK website. You may also contact Rhonda for further informationon the event at [email protected].
June 23 and 24, 2015
CPA Saskatchewan Conference and AGM in Saskatoon
The conference will be held at the Delta Bessborough Hotel. More details will beavailable in 2015 as arrangements are confirmed. Mark the dates on your calen-dar!
16 | December 2014 | CPASKConnect
Tools & Resources
Don’t miss the greattechnical updates andincredible networkingopportunities available toyou at the
2015COMMODITY TAXSYMPOSIUM –WEST
Join us for WesternCanada's Largest IndirectTax Conference!
This unique event focuses on the mostimportant indirect tax issues facingbusinesses in Western Canada andplays host to numerous general andconcurrent sessions.
Featuring sessions on:
• Top PST and GST Audit Issues and Rulings
• PST for Oil and Gas Companies
• PST and Double Taxation – Multi-Provincial Issues
• Carbon and Motor Fuel Tax
• Fireside Chat with the Canada Revenue Agency
...and much more
PLUS -Optional workshop March 4Provincial Sales Tax WorkshopLed by two of Canada's leading PST experts!
Visit: cpacanada.ca/CTSwest
PPM and C-PEMResources Update With the integration of CGA Canada into CPACanada on October 1, 2014, CPA Canada pub-lishes similar publications relating to profes-sional engagements with clients – the PublicPractice Manual (PPM) and the CanadianProfessional Engagement Manual (C-PEM).Both of these publications provide valuableguidance on performing effective and effi-cient assurance and compilation engage-ments.
Efforts are underway for CPA Canada to de-velop a new resource that will blend thestrengths of both legacy publications. Thisnew CPA Canada resource will be developedin consultation with numerous participantsand practitioners to ensure that the resultingproduct continues to be relevant, practicaland easy to use with a view to minimizing theeffect on practitioners.
The PPM will complete its final subscriptioncycle in 2015-16, while C-PEM will publish itsfinal edition in 2015. The new resource is ex-pected to be launched in the fall of 2016.
Please see the FAQs on page 17 for more in-formation, including the requirement forCGA firms to maintain their PPM subscrip-tion. If CGA firms have questions regardingwhether the purchase of the PPM is a manda-tory requirement during the transition pe-riod, please contact your provincial Affiliateoffice.
For any other questions or comments, pleasee-mail PPM inquiries to [email protected] C-PEM inquiries to [email protected].
2015 COMMODITY TAX SYMPOSIUM – WEST
March 2-3, 2015 (optional workshop March 4)Westin Calgary Hotel, Calgary, AB
EARLY-BIRD DISCOUNT
Register byDecember 31/14SAVE 10%Use coupon code: EB-CTSW
DETAILS AND REGISTRATION
CPA Canada has introduced a new and easy way to manage youronline communications from the national office.Through CPA Canada’s preference Centre, you are now able to identify and se-lect the content you would like to receive and the communications channelsthrough which it is delivered. Updating your account is fast and easy.Visit the myAccount section on the CPA Canada website (French: Moncompte) and follow the prompts to identify your interests and subscriptions soyou will receive the information you want, when and how you want it.
CPASKConnect | December 2014 | 17
Q: Why will both legacy publications beavailable until 2016?
A: We want to take the appropriate timeto develop a new resource that is practical,useful and of the quality that practitionersexpect and deserve. We recognize that thePPM and C-PEM are critical publicationsfor our practitioners and that they needto be maintained to assist with compli-ance of existing standards until the newresource is ready for publication.
Q: If the legacy publications are availableuntil the new resource manual is released,why tell us now?
A: We are committed to keeping youinformed about the process and wantedto provide clarity and certainty about thelength of time each legacy publicationwould continue to be published.
Q: Will the PPM continue to be manda-tory for CGA practitioners (other thanthose in Quebec)?
A: Once affiliates have been consultedand existing CGA standards are replacedor repealed, our plan is that the PPM (or
the new substituting resource) will nolonger be mandatory for CGA practition-ers. While practitioners are not requiredto use either publication when performingclient engagements, practitioners shoulddetermine what resource to use to effec-tively perform and document theirengagements. You should confirm withyour CGA affiliate office what the require-ments are during the transition period.
Q: Will the new publication contain ele-ments from the PPM and C-PEM?
A: Yes – the new publication will incor-porate the best of both publications.
Q: Why not continue with one of thelegacy publications rather than develop anew one?
A: Each legacy publication has itsstrengths. By taking the “best of bothworlds” we will be able to offer our prac-titioners a publication that builds on thosestrengths and produces a richer, harmo-nized end product.
Tools & Resources
Newly released BusinessInsights GuideNewly released by CPA Canada and co-authored byRobert Gold & Andrew Z. Brown, Business Insightssummarizes key guidance and strategies from someof Canada’s top business owners and leaders.
This workshop-type guide focuses on the challengesfaced by business owners. It includes the BusinessInsights Actions Checklist, a valuable tool to helpbusiness owners take actionable steps towards over-coming their business hurdles.
Practitioners Toolkit• Are you considering going into public practice?
• What do you need to do to start your own practice?
• What resources will you need?
• How can you make your firm grow?
• What is the best way to manage suc- cession in your firm?
The Practitioners Toolkit has been de-signed to assist CPAs who are contem-plating public practice and also thosewho already run small and medium-sized public practices. The toolkit’s lifecycle approach is designed to help youunderstand what's involved in setting upand managing a small practice by pro-viding valuable resources, tools, adviceand professional development. For moredetails, click on Practitioner’s toolkit.
CPA TodayCPA Today, CPA Canada’s newsletter forCanada’s accounting and business pro-fessionals, has released their Decemberissue. Click here to view.
Frequently Asked Questions About PracticeManuals
CPASKConnect | December 2014 | 19
Professional Updates
New audit blog discusses layingthe foundation for buildingsustainable audit quality
In the recent Audit Quality blog post,Eric Turner, principal, Auditing and As-surance Standards, CPA Canada, dis-cusses the new publication BuildingSustainable Audit Quality from theCanadian Public Accountability Board(CPAB). Based on observations from itsinspections, as well as an analysis of theresults of firm audit quality actionplans, CPAB identified four key areaswhere it believes audit firms need tofocus to improve audit quality in a sus-tainable manner. CPAB makes recom-mendations for each area, which dealwith building the right teams, providingthe right support, conducting in-processreviews and assigning accountability foraudit quality.
20 Questions Directors of Not-for-Profits Should Ask AboutSocial Enterprise
Social enterprise is a growing sector inCanada. Whether a not-for-profit or-ganizations (NPO) is considering or al-ready running a social enterpriseoperation, this new guidance will helpthe organization and its directors ad-dress common issues and questions.
The term social enterprise encompassesa wide range of meanings, from the or-ganization or operation itself to an activ-ity or program within the entity. Thebasic requirement is that the organiza-tion, operation, activity or program musthave a socially beneficial purpose that isachieved through commercial or busi-ness-like activities. The publication ad-dresses the risk of tax compliance forNPOs that carry on social enterprise ac-tivities, as well as the challenges thatmultiple objectives and stakeholdersmay have on the mission of a social en-terprise. It also provides advice on meas-uring the success of social enterprises,the qualifications and skills desired in
social enterprise board members, boardtraining, as well as the pros and cons ofhaving paid or volunteer staff.
Two new alerts for auditors onCAS 600 address the challengesin complying with therequirements in group auditsincluding components located inemerging markets
The first audit and assurance alertprovides non-authoritative guidance toraise awareness about challenging as-pects of group audits. It discusses therequirements related to determining thetype of work to be performed on compo-nents and determining component ma-teriality. The second alert providesnon-authoritative guidance for practi-tioners to increase their understandingabout challenging aspects of group au-dits involving components located inemerging markets. The alert may alsobe of interest to practitioners who per-form audits of entities that are locatedin emerging markets.
A new audit and assurance alertaddressing CAS 540 raisesawareness about challengeswhen complying with therequirements when auditingaccounting estimates
This alert provides non-authoritativeguidance to practitioners on understand-ing management’s process for makingaccounting estimates, assessing whetheraccounting estimates have high estima-
tion uncertainty, assessing whether thoseestimates are significant risks and iden-tifying possible management bias whenreviewing the judgments and decisionsmade by management in making ac-counting estimates.
IAS 8 Accounting Policies,Changes in AccountingEstimates and Errors
IAS 8 is the latest addition to CPACanada’s series on IFRS applicationfrom a Canadian perspective. It providesan overview of the standard’s keyrequirements, as well as a detailed analy-sis of relevant application issues and avariety of practical application insights,including illustrative examples, extractsfrom financial statements of Canadianentities, analysis of IFRS DiscussionGroup reports and a review of items dis-cussed but never incorporated into theIASB agenda.
New oil and gas Viewpoint forapplying IFRSs
This significantly revised document inthe Viewpoint series looks at how an oiland gas company should account for itsinterest in a joint arrangement that isnot structured through a separate vehi-cle such as a direct working interest in awell. Insights are provided on conduct-ing a joint control and classification as-sessment and accounting for a jointoperation. It also looks at the acquisitionof an interest in a joint operation andconsiders disclosure implications.
Mentor a Future CPAGive back and invest in the future of the accounting profession. The new CPA practicalexperience requirements include a mandatory mentorship component to provide can-didates support and guidance. The role of a mentor is critical in this development.
In addition to enhancing personal and professional knowledge, mentors will receive accessto free CPD-eligible resources and tools.
To learn more and to register, please click here.
20 | December 2014 | CPASKConnect
Did You Know?
Use Colour to Increase PotentialAre you thinking of painting the office? The colour you selectcould increase your possibilities of reaching your business goals.Colour influences emotions and the behavior of humans in greatmeasure. If you desire to increase the productivity of your em-ployees, or encourage buyers to spend money, learn the basicconcepts of the psychology of colour. It could help you design anoffice space that will maximize your potential.
Business in HawaiiIf you are attending a business meeting in Hawaii, leave yourbusiness suits at home.
“They are not needed and certainly not for meetings that includethe local population,” said Andrew Lockwood, president of thePacific Islands Institute.
“You'll be more comfortable, and even feel more creative, in re-laxed clothing.”
And don't call the colourful, short-sleeved shirts Hawaiianshirts; they are known locally as "aloha" shirts.
CPA Saskatchewan Office Christmas ScheduleThe CPA SK office in Regina will be closed for the holidays from December 25 to 31.It will re-open for business on January 2, 2015.
Have a safe and wonderful holiday season! Happy New Year!
