The tools you need to lead in 2010 Leadership · 2017-11-23 · The tools you need to lead in 2010 ... encourage you to do so, as it is an excellent source for Society news, as well

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WINTER 2010

Leadership

Financial &Accounting Expertise

StrategicManagement

SuccessionPlanning

ProfessionalDevelopment

PerformanceManagement

Mentoring

People

STRATEGY SNAPSHOTThe tools you need to lead in 2010

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WINTER 2010 CMA UPDATE 3CERTIFIED MANAGEMENT ACCOUNTANTS | BRITISH COLUMBIA

COVER PHOTO: ISTOCKPHOTO

IN THIS ISSUE

Y Features8 The ABCs of the HST

How B.C.’s new tax system aff ects youBy Alladin Versi, CMA, FCMA

10 Float your bottom line Cloud computing makes for paper-free, pay-as-you-go ITBy Arian Soheili, CMA

13 Three steps to investing peace By Don Nilson, CMA, FCMA

16 The great enabler Leadership brings other professional skills into focusBy Jeff rey Sparling, CMA

18 Investing in influence The best leaders inspire commitment, not just complianceBy Rosie Steeves, PhD

21 From risk to reward Why you need not fear your next Internal AuditBy Tom Peerless, CMA

27 Passing the torchUpdate sits down with your Chairs past and present

28 In with the newThe 2009-2010 CMA British Columbia Board of Directors

32 Convocation 2009New CMAs make the grade

34 Hats off !B.C.’s newest Life Members and Fellows

Y Departments4 Letter from the Editor

5 Message from your President & Chair

6 News and notesThe latest CMA BC events, tips on IFRS and more

24 Diary of a CMA in trainingThe application phase beginsBy Geoff Bryant, Candidate in the CMA Program

25 CMA program updatesThe CMA Board Report: an overviewBy Bob Gautama, CMA

29 Chapter profi leVancouver

30 Member updateMembers on the move, new faces and members in memoriam

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ACCOUNTING MANAGEMENT STRATEGY

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CERTIFIED MANAGEMENT ACCOUNTANTS | BRITISH COLUMBIA4 CMA UPDATE WINTER 2010

LETTER FROM THE EDITOR

ith signs of economic recovery being reported, I think everyone will agree this past year has been challenging. Th e recession, felt worldwide, has resulted in cutbacks at all levels of the organizations we work for and with.

Th e need to be innovative during tough times, and CMAs’ position at the forefront of initiating change, are the focus of a new national testimonial campaign called “Creating Possibilities.” Th is campaign builds on the creativity focus of last year’s campaign, and features members from across Canada who are creating possibilities through their unique approaches to operations, management and strategy while fostering innovation in their workplaces. Look for the new campaign, featuring two B.C. CMAs – Shawn Burns, CMA, President of Carbon Credit Corp. and Rachel Cuthbert, CMA, Business Intelligence Analyst with Aritzia LP – to start in early spring.

While the ability to be creative is within each of us, one way to enhance those skills is to build upon the tools acquired in the CMA program. In each issue of Update we focus on the CMA core competency model and the three pillars of the designation: strategy,

management and accounting. Strategic management, leadership and the CMA core competency model, our key diff erentiator from other accounting designations, are the focus of our upcoming fourth annual provincial members continuing education confer-ence – the 2010 CMA BC Leadership Conference taking place May 18 and 19, 2010 at the Hilton Vancouver Metrotown.

Building on the last three years of sold-out conferences, we have once again aligned our speakers with the CMA compe-tency map to ensure the topics are relevant to issues facing our membership. We have also brought in a number of speakers who will focus on leadership – including topics such as building a team and achieving organizational excellence, evaluating and implementing high-performance operating models, managing risk and assessing our designation’s status in terms of profes-

sionalism and ethical behaviour. As professionals we must always be raising the bar on our own professional devel-

opment and knowledge. We hope you’ll be joining us, and 400-plus members, CMA students and other business professionals, at what I’m sure will be our most successful conference to date.

We hope you enjoy this issue, as we cover the ways in which leadership brings other professional skills into focus. As always we welcome your feedback and ideas for upcoming issues.

My best wishes for you and your companies’ success in 2010!

Vinetta Peek, CMA (Hon.)Vice President, Programs and [email protected]

Want to advertise in the next issue of Update? Contact Karen Rice at 604-205-1711 or [email protected].

Have an article, editorial suggestion or feedback you’d like to share with Update? Contact Tiana Mah, Communications Specialist at [email protected].

WINTER 2010

EDITORIAL AND BUSINESS OFFICESuite 1055 Two Bentall Centre, 555 Burrard St.,

Box 269, Vancouver, BC, V7X 1M8Phone: 604-687-5891 | Toll-free: 1-800-663-9646

Fax: 604-687-6688Email: [email protected] | Website: www.cmabc.com

We welcome your feedback.

Copyright CMA British Columbia 2010.Publications Mail Agreement No: 40065475.

Please return undeliverable copies to address above.

■ ■ ■

EXECUTIVE BOARDCHAIR Donnie MacDonald, CMA, FCMA

PAST CHAIR Mia Maki, CMA, FCMA

FIRST VICE CHAIR Kelvin Stretch, CMA, FCMA

SECOND VICE CHAIR Stephen Lee, CMA, FCMA

TREASURER Patricia Kennedy, CMA, FCMA

SECRETARY Colin Bennett, CMA, FCMA

DIRECTORS-AT-LARGEMichael Brown, CMA, Jeff Champion, CMA,

Gerald Dragomir, CMA, Clay Harmon, CMA, FCMA, Ron Matthews, CMA, Jim Olsen, CMA,

Simon Philp, CMA, Cecil Stoochnoff , CMA, Tammy Towill, CMA, Laura Hartley, CMA - YUKON

LAY REPRESENTATIVESDoug Alley, B.COMM., Anders I. Ourom, LLB,

Cathy Whitehead McIntyre, BA, MBA

EXECUTIVE STAFFPRESIDENT AND CEO Colin Bennett, CMA, FCMA

VICE PRESIDENT, OPERATIONS Rick Lightheart, CMA, FCMA

VICE PRESIDENT, PROGRAMS & MARKETING Vinetta Peek, CMA (HON.)

UPDATE STAFFEDITOR – VICE PRESIDENT, PROGRAMS & MARKETING Vinetta Peek, CMA (HON.)

ASSOCIATE EDITOR – COMMUNICATIONS SPECIALIST Tiana MahUPDATE EDITORIAL TASK FORCE: David Andru, CMA,

Geoff Bryant, CMA CANDIDATE, Don Nilson, CMA, FCMA, Roy Quinones, CMA, Jeff rey Sparling, CMA

Canada Wide Media, 4th Floor, 4180 Lougheed Highway,Burnaby, B.C. V5C 6A7

Phone: 604-299-7311 | Fax: 604-299-9188■ ■ ■

EDITORIAL COORDINATOR Kirsten RodenhizerART DIRECTOR Edwin PabellonADVERTISING SALES Karen Rice

PRODUCTION MANAGER Suzy WilliamsonSTUDIO MANAGER Kristina Borys

PRODUCTION COORDINATOR Sonia PrasadPRODUCTION SYSTEMS MANAGER Kim McLane

ADVERTISING PRODUCTION Allison Griffi oen, Miki May, Chris SherwoodSENIOR IMAGING TECHNICIAN Debbie Lynn Craig

ELECTRONIC IMAGING Bernhard HolzmannELECTRONIC PRODUCTION Ina Bowerbank

■ ■ ■

CHAIRMAN & CEO Peter Legge, O.B.C., LLD (HON.)

PRESIDENT Karen FossEXECUTIVE VICE PRESIDENT Heather Parker, CGA

SENIOR VICE PRESIDENT Millie Warren, CGA

VICE PRESIDENT PRODUCTION Corinne SmithVICE PRESIDENT MARKETING AND DIGITAL MEDIA Samantha Legge, MBA

VICE PRESIDENT EDITORIAL Kathleen FreimondVICE PRESIDENT FINANCE Farnaz Riahi, CA

A NOTE TO READERSUpdate is published four times a year by the Certifi ed Management

Accountants Society of British Columbia and is mailed to 4,000 CMAs, 1,000 CMA students and industry partners throughout the province.

Opinions expressed are not necessarily endorsed by CMA British Columbia.

W

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MESSAGE FROM YOUR PRESIDENT & CHAIR

s we start the new year, it gives us time to refl ect on 2009 and look forward to a prosperous year in 2010. Firstly, we’d like to introduce the 2009-2010 CMA BC Board of Directors: Chair Donnie MacDonald (Lower

Mainland), First Vice Chair Kelvin Stretch (Kamloops), Second Vice Chair Stephen Lee (Lower Mainland), Treasurer Patricia Kennedy (Lower Mainland) and Past Chair Mia Maki (Victoria). Continuing their term on our B.C. board are: Michael Brown (Lower Mainland), Jeff Champion (Lower Mainland), Clay Harmon (Northern B.C.), Ron Matthews (Lower Mainland), Jim Olsen (Vancouver Island) and Cecil Stoochnoff (Eastern B.C.). Joining our B.C. board as newly elected members this year are: Gerald Dragomir (Lower Mainland), Simon Philp (Vancouver Island) and Tammy Towill (Lower Mainland). Our three current provincially appointed lay representatives are Doug Alley, Cathy McIntyre and Anders Ourom. A listing of all the provincial board directors can be found on page 28.

Th is fall CEOs from the four western provinces met in mid-October in Regina to share best practices and discuss ways we can improve our operational effi ciency. We will continue these meetings into 2010 and, in addition, the senior staff s from each of the four western provinces will also continue to meet on specifi c initiatives and projects.

Th is fall we had our fi fth annual CMA volunteer appreciation luncheon, followed by the annual general meeting September 25, and our convocation ceremony welcoming B.C.’s newest members, fellows and life members October 24. Photos and bios for this year’s Volunteers of the Year can be found on the Society blog, www.cmabcblog.com. If you haven’t visited the blog yet, I encourage you to do so, as it is an excellent source for Society news, as well as articles on strategy, management and accounting – the three pillars of our designation. In this issue of Update, on pages 32 to 35, you’ll fi nd a feature on our recent convocation and our new graduates, fellows and life members. Fellowship nomina-tions for 2010 will be open shortly, with nomination forms and criteria posted to www.cmabc.com in the “I am a CMA” section under Membership Services. If you know of deserving nominees for this prestigious award, we encourage you to submit the appro-priate information by no later than March 31, 2010.

In the new year, we will be reviewing reports and updates from the recently formed B.C. Strategic Planning Committee, chaired by Kelvin Stretch, as well as preparing for the next B.C. board meeting in early March. In late January, both of us will be attending the Council of Chairs/CEOs meeting in Toronto. We will report back on results from that meeting and any new initia-tives in the next issue of Update.

We’d like to remind members to register early for our successful and well-attended provincial members conference, which will

focus on CPLD. The 2010 CMA BC Leadership Conference will be taking place May 18 to 19, 2010 at the Hilton Vancouver Metrotown in Burnaby, B.C. We are excited to once again have a highly acclaimed lineup of speakers presenting on a variety of topics related to the CMA competency map and leadership. Our conference has sold out early the past three years, so we encourage you to take advantage of our early bird registration and secure yourself a spot.

In closing, we would like to take this opportunity to thank all of our dedicated CMA volunteers, who devote countless hours to representing our designation. Without your help much of the work the Society does wouldn’t be possible. On behalf of our Board of Directors and all of our B.C. Society staff , we wish you success, happiness and good fortune in 2010.

Best regards,

Colin Bennett, CMA, FCMAPresident and CEOCMA British [email protected]

Donnie MacDonald, CMA, FCMAChair, CMA British ColumbiaBoard of [email protected]

A In the new year, we will be reviewing reports and updates from the recently

formed B.C. Strategic Planning Committee, chaired by Kelvin Stretch, as well as preparing for the next B.C. board

meeting in early March.

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his fall CMA BC sponsored a number of industry events, such as the Business in VancouverColour Series, including the Blue

Edition panel (September 24) on investing in innovation and technology and the White Edition panel (December 15) on corporate philanthropy. Lunch-and-learn sessions on the CMA designation were also held at a number of organizations, including UBC Financial Services and Fraser Health.

Evening information sessions about the CMA designation and CMA educational programs are held monthly in various locations throughout B.C. The Society would like to thank Stuart Mah, CMA, Accounts Payable Coordinator, UBC; Shane Kooyman, CMA, Manager, Project Accounting, Ipsos North America; Robert Gronfeldt, CMA, Senior Accountant, International Water-Guard; and Andriy Butskiy, CMA, Financial Controller,

MonkeyMedia Software for being guest speakers at the fall information sessions.

CMA BC participated in a number of events at B.C. post-secondary institutions, including career fairs and various student-run accounting and fi nance club events, and hosted Afternoon With a CMA events at Best Buy and Lululemon. The annual CMA BC case competition for fi rst- and second-year business students (November 14) saw teams from BCIT, Capilano University, Simon Fraser University and the University of British Columbia compete for an $800 shared team scholarship. On November 26, CMA BC hosted its annual networking and speed interview night for post-secondary students, at Opus Hotel.

Society events held this fall included the annual general meeting and volunteer appreciation luncheon (September 25) and convocation (October 24; see pages 32-33).

TCMA sponsorships and events


NEWS & NOTES

Y INQUISITIVE STUDY

IFRS: the IT implicationsThe deadline for Canadian publicly listed companies to comply with international fi nancial reporting standards (IFRS) is January

2011. While the focus has been on the conversion process, many companies have yet to consider the full impact IFRS will have on one of the most important areas of their business – their IT systems.

Considerations include whether IT systems will be capable of handling the range of new data requirements, the need to retain access to legacy systems to retrieve older fi nancial data and the potential eff ects of conversion on non-fi nancial reporting systems. A recent Grant Thornton article looks at the IT implications of IFRS. To read the article in full, visit: www.grantthornton.ca/services/IFRS.

IFRS readiness in CanadaA recent report by the Canadian Financial Executives Research Foundation, IFRS Readiness in Canada: 2009, CFERF Executive

Research Report, details survey results from senior fi nancial executives at 256 Canadian organizations. The study looks at the state of IFRS readiness in companies across Canada and provides benchmarks for organizations planning on converting to IFRS in 2011. Visit www.feicanada.org/fi les/IFRS_Readiness_Final_Web.pdf to download a copy of this report.

Looking for more information on IFRS?

Visit CMA Canada’s IFRS Resource Centre online, located on its website under “Professional Development,” “IFRS Resource Centre”:

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1. James Anderson, CMA (middle) with students at a CMA networking and speed interviewing event at Opus Hotel. 2. SFU student Daniel Matthews (left) with Jassie Osei-Tutu, Candidate in the CMA Program (middle) and Jack Wong, CMA (right) at the Opus Hotel event. 3. CMA BC post-secondary case competition judges Harold Burgess, CMA (far right) and Matthew Murray, CMA (second from right) with the fi rst-place team from UBC. 4. Students with Dave Andru, CMA (back row, fourth from left) and Winnie Wan, CMA BC Marketing Administrator (back row, far right) at an Afternoon with a CMA at Lululemon. 5. CMA volunteers Jennifer Jakubuv, CMA and Eric Fleury, Candidate in the CMA Program at the Okanagan College Career Fair.

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NEWS & NOTES

Y DIGITAL DASHBOARD

Microsoft Excel keyboard shortcutsTry out the following time-saving shortcuts the next time you’re using Excel:

Y GADGETS AND WIDGETS

Link yourself inConnect with B.C. CMAs, candidates and students online by joining the CMA BC

LinkedIn group at www.linkedin.com/groups?home=&gid=2385287.

LinkedIn is a network of professionals from around the world, representing 170 industries and 200 countries.

[Ctrl]1 Open the Format Cells dialog box

[Ctrl][Shift]@ Apply a time format

[Ctrl][Shift]& Apply a border to a selection

KEYSTROKE FUNCTION

REGISTER NOW! 2010 Leadership ConferenceMay 18 to 19, 2010Hilton Vancouver Metrotown, Burnaby, B.C.

Invest in strategic management and leadership tools that will help you succeed in economic recovery:

■ Eff ective Performance Management = Increased Productivity and Retention

■ Carrots not Whips: Creative Fringe Benefi ts ■ CMA BC – Where Do We Stand in Our Professionalism

and Ethical Behaviour?■ Leading Others in a Changing World: What Your

Leadership Means to Your Employees’ Adaptability■ Leadership: Great Leaders, Great Teams, Great Results■ Succession Planning■ Evaluating Marketing Performance for New Media■ High-Performance Operating Models■ How to Give and Receive Eff ective Feedback■ Risk Management■ Breaking the Leadership Mould: 20 Principles to Achieve

Organizational Excellence■ And much more!

Earn 15 CPLD credits by attending this two-day conference. Visit www.cmabc-pd.com/conference for full details on seminar presenters and keynote speakers.

Learn how to use LinkedIn today – visit press.linkedin.com/about to access this

“What is LinkedIn?” video.

At CMA BC’s volunteer appreciation luncheon September 25 (all left to right): 6. Debbie Musil, CMA, Florence Dupont, CMA and Pat Kennedy, CMA, FCMA. 7. Mehb Jessa, CMA, FCMA, Larry Metz, CMA, FCMA and Steve Lee, CMA, FCMA. 8. Jerry Berkson, CMA, FCMA, Ernie Iannacone, CMA, FCMA, Bob Nichols, CMA, FCMA and George Robertson, CMA. 9. Keynote speaker Jeff Kroeker, CMA, FCMA. 10. CMA BC 2009 Volunteer of the Year awardees Diane Kerley, CMA, Richard Wong, CMA, Donna Porter, CMA, Geoff Bryant, Candidate in the CMA Program, Paul Cumberland, CMA and George Hartmann, CMA, FCMA – recipient of the CMA Lifetime Achievement Volunteer Award.

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www.cmabcblog.com/business-strategy

Y ACCOUNTINGY MANAGEMENTY STRATEGY

ow does the HST aff ect me? Th at question has been on the minds of a lot of British Columbians recently. Th e announcement of the new tax system in July by the federal and provincial governments was unex-

pected, since there was no indication B.C. was moving in that direction. In fact, during the May 2009 provincial election, the B.C. government stated we would not be moving to a harmonized sales tax system. Th e proposed change has raised a furor among some taxpayers and industries, such as the restaurant industry, where the HST will have a more signifi cant eff ect.

So how will the HST aff ect us? Let’s look at some areas aff ected by the change.

BusinessesBusinesses will generally benefi t from the change, because the HST will result in a simpler, more stream-lined system of recording and remitting a single sales tax, rather than the current dual GST/PST system. Th eir costs will also decrease because certain purchases

The ABCs

How B.C.’s new tax system aff ects youBy ALLADIN VERSI, CMA, FCMA

H

HSTof the

Businesses will generally benefi t from the change, because the

HST will result in a simpler, more streamlined system of

recording and remitting a single sales tax, rather than the current dual GST/PST system.

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ALLADIN VERSI, CMA, FCMA, CFP is a tax specialist with Meyers Norris Penny LLP, and currently leads the fi rm’s tax group for the Vancouver Island region. Based out of MNP’s Nanaimo offi ce, he specializes in strategic corporate tax planning for businesses, corporate reorganizations, purchases and sales of businesses and estate planning.

will no longer have a PST component, which was generally non-recoverable – this will be replaced by the provincial portion of the HST, which will generally be recoverable. If you currently charge the GST, you will now charge the HST. If you are currently able to recover the GST, you will be able to recover the HST.

However, the transitional rules will, in some cases, result in a need to be careful about how to track, and charge or recover, the HST. Th ere are three key dates to keep in mind for items that are currently subject to the GST (see sidebar above).

ConsumersMost goods are currently subject to the PST, and the change to the HST will not really be noticeable. However, there are certain goods and services that are currently not subject to the PST but will be subject to the HST. A prime example is the restaurant industry, which is currently not subject to the PST, but will have to charge the HST next year.

On November 12, 2009, the Ontario government, which is rolling out its own HST at the same time as B.C., announced the Ontario component of the HST would not apply to qualifying prepared food and beverages sold for $4 or less. Th is has increased pressure on the B.C. government to provide a similar exemption. While the B.C. government has agreed to meet representatives of the industry, there was no further word on this issue as of November 30.

Another area where consumers will see a change is new residential housing. As announced November 18, 2009, the proposed HST rules include a rebate of the B.C. component of the HST, calculated at fi ve per cent of the cost of the residence up to $525,000 – a maximum rebate of $26,250. Th is will be in addition to

the current GST housing rebate (if the property meets these conditions). However, unlike the GST housing rebate, the provincial HST rebate is not eliminated once the price of the house exceeds $525,000.

So what happens to the PST?Good question – you’d think it would disappear after July 1, 2010, and that is certainly the case – up to a point. Th ere are some transitional issues to note. For example, what happens if you buy something before July 1, 2010 and return it after that date? Generally your PST will be refunded if you return it by October 31, 2010.

For businesses, fi nal PST returns will generally have to be fi led on or before July 23, 2010. For any PST adjustments that occur on or after July 1, 2010, they will have to fi le a supplemental PST return on or before the 23rd day of the following month. Th ere will also be a period of time when businesses could be subject to audits of their PST returns (for up to six years), so the PST will still be around for a while.

SummaryTh e shift from the GST to the HST will involve a tran-sition for businesses and consumers, and the rules of the game are still being ironed out. Over the next few months, more information will become available from both levels of government. Th e B.C. government has a website dedicated to the HST, at www.gov.bc.ca/hst. You can also contact the Ministry of Finance at 604-660-4524 in Vancouver or toll-free at 1-877-388-4440, or email your questions to [email protected]. ■

Y Questions about tax issues? Alladin Versi will be presenting at the 2010 CMA Leadership Conference. Visit www.cmabc-pd.com/conference for details.

Y October 14, 2009If you sell tangible personal property (i.e. goods) for delivery after June 30, 2010, and the payment was due between October 14, 2009 and April 30, 2010, or was paid within those dates, the HST does not have to be charged. While the purchaser is required to self-assess for the HST, this is only applicable to “non-consumers.” These include the following:

■ Purchasers acquiring supplies for consumption, use or supply in a business that is making or providing GST/HST-exempt supplies or services (such as a daycare)

■ Purchasers who use simplifi ed procedures to calculate net tax (such as certain charities, public-service bodies and small businesses)

■ A selected group of fi nancial institutions that will have to self-assess for the HST as applicable.

For businesses that fi t the criteria, and currently aren’t able to recover the GST, this cost will have to be calculated and remitted to the Canada Revenue Agency on the GST return covering the period

July 1, 2010. The latest this amount is required to be remitted is November 1, 2010 and there will be a special form if your GST return is not due before this time.

Y May 1, 2010If you sell tangible personal property (i.e. goods), for delivery after June 30, 2010, and the payment was due between May 1, 2010 and June 30, 2010, or was paid within those dates, you will be required to charge the HST.

Y July 1, 2010The HST will be fully implemented on this date and will be charged on all applicable goods sold.

For the provision of services, the HST will apply on a pro-rated basis for services performed before and after July 1, 2010, unless at least 90 per cent of the services have been provided prior to July 1, 2010, in which case the HST will not be charged, even if the invoice is issued after that date.

Three key HST dates for businesses

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n simple terms, cloud computing – the cloud being a metaphor for the Internet – lets you access IT products and/or services that are hosted some-where else. It’s like paying for on-demand movies from your cable provider rather than buying DVDs yourself. By renting instead of owning, you

get to see the newest releases whenever you want. And you don’t have to dust the DVD as it sits on your shelf.

In cloud computing, you “rent” software, server space and/or data storage from a provider. Th is lets you avoid unnecessary capital outlays, cut expenditures on things you don’t use all the time and outsource many of your IT responsibilities, trimming related costs.

Simpler software and serversTh e most common example of cloud computing is

Software as a Service (SAAS). Rather than buying Microsoft Offi ce or Sage Accpac ERP and CRM, for instance, you can rent them from your cloud provider and avoid spending thousands of dollars. Maintaining compliance with various vendors’ licensing require-ments is a major headache for corporations, as are the cost and hassle of acquiring and implementing upgrades. You sidestep these diffi culties with cloud computing, as your provider takes care of everything for you.

Th e same principle applies with servers. Rather than worrying about confi guring and maintaining servers on site, you can simply rent space on the provider’s equipment. Th e big gain here comes from economies of scale. If you’re maxing out your existing servers, but aren’t quite ready for a quantum leap to a larger system, cloud servers could be an ideal solution.

Float your

Cloud computing makes for paper-free, pay-as-you-go ITBy ARIAN SOHEILI, CMA

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bottom line

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More mobilityMany users who switch to SAAS expe-rience a signifi cant increase in produc-tivity because they’re no longer tied to a desk. Instead, they can work wherever and whenever they want, accessing docu-ments, programs, data and email on the Internet. Everything resides in the cloud, rather than in a cubicle or on a desktop. It’s the ultimate liberation from paper.

Peace of mindPerhaps most importantly, with cloud computing you no longer have to worry about securing your data. Backups are the

responsibility of the service provider, who typically maintains a data centre in a secure location. Th ese centres usually feature heavy-duty access protocols, redundan-cies and auxiliary power, plus backup routines monitored by staff around the clock. Providers must take security very seriously, and can implement state-of-the-art measures that would be too pricey for a small- to medium-sized company.

Cutting capital expensesMaking a business case for cloud computing becomes much easier when you factor in something people frequently

overlook – you can transform large capital outlays into much smaller operational expenses without being locked into long-term contracts.

Let’s assume that your enterprise resource planning (ERP) software requires additional computing power over the last quarter of the year due to high seasonal volumes. In a traditional model, you would have no choice but to purchase a capital asset. If you were lucky and got the purchase approved, procure-ment and provisioning would take at least two weeks and require the services of a professional IT consultant. Th en you’d be the proud owner of a server that would be used only three months of the year, and that would become obsolete in about three years.

With cloud computing, you sign up for additional computing power only during the quarter you need it. Deployment time is a few hours. You pay for the capacity you actually use. Considered this way, cloud computing off ers a new way to look at your IT budget.

Lower related costsYet another fi nancial consideration is that with cloud computing there are no main-tenance, cooling, electrical or repair costs. You free up valuable offi ce space that would otherwise be allocated to in-house servers. You spend less on IT staffi ng. Plus you can use as much disk space as you want without worrying about storage requirements.(2

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ARIAN SOHEILI, BBA, CMA has 15 years of IT industry experience and is Managing Director of Cantatus Systems Group Inc. (www.cantatus.com), an integrated enterprise solution provider based in Surrey, B.C. specializing in ERP, MRP, CRM and IT infrastructure.

Even better, when you need additional power next year, you get to use the latest and greatest hardware and software, rather than being saddled with some-thing on its way to becoming dated.

Doing more with lessIn today’s uncertain economy, managers are always looking for ways to become more nimble, so they’re ready to spring with the slightest wind of change. Cloud computing can be a good answer. Because the service is elastic, it can grow or shrink as needed, and you’re not overspending on seasonal requirements. It lets you free up capital for more important asset purchases, giving you greater fl exibility. Also, it allows you to either downsize or upsize quickly, without considering hardware and software impacts. You can deploy a new solution almost immediately, for instant bottom-line results. Clearly, cloud computing is a concept that’s worth considering, no matter what your current business situation – and where the economy might take us in the quarters ahead. ■

Five reasons to get your head in the cloudsSpeedWith cloud computing, you can be up and running with everything you need in hours rather than weeks.

Lower costsYou don’t need to purchase expensive software, upgrades or data storage space. You eliminate server maintenance costs, and you need fewer people in IT.

ScalabilityYou use – and pay for – only the programs and services you need, when you need them.

ReliabilityThe provider takes care of compatibility, upgrades, licensing and maintenance issues.

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ACCOUNTING I

MANAGEMENT I

STRATEGY I

Three steps toinvestingpeaceBy DON NILSON, CMA, FCMA

nvestors entered a dark tunnel last September. As with most market dips, the sentiment was that this one was diff erent,

and that the world would never be the same again. For many the only way to cope was to turn off the news because they couldn’t stand it any longer.

With the crash more than a year behind us, we now have the benefi t of some perspective. As a young man learning about historical events such as the Great Depression, I ignorantly concluded that every generation needed to experience one major cataclysm, and that this experience would steel us against future such events.

I was wrong on two counts. First, the markets throw out more than one such event in a lifetime – for example, the tech bubble, the ABCP-induced crash, the Mexican crisis and “Long-Term Capital.” Second, we typically don’t learn from

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ACCOUNTING I

MANAGEMENT I

STRATEGY I

these incidents. In fact, experiential memory in the investing world is quite short!

As we come out the other end of yet another cycle, it’s worth reviewing some investing lessons. Th ere are three steps to remember and embrace in the long-term stewardship of wealth accumulation. Th ese steps draw from a fi ction author, an accoun-tant and a fi nancial planner.

Tom Robbins wrote a book in the ’70s called Another Roadside Attraction, throughout which he frequently repeats the following phrase: “And the world situation was desperate … as usual.” Little did he realize he was saying something prophetic to the investing world!

Investment writer Nick Murray coined a similar term – “apocalypse du jour.” These statements sum up the first step to learn and embrace. Th e world, and the fi nancial press, will always give you something to worry about. I don’t need to list examples – you can do that yourself. Some of these things are real, and have a temporary impact on the planet; others never happen or have a mete-oric fall from the front page. My advice is not to get caught in the trap of being led around by the fi nancial press. Investing is a long-term project, whether you are 30, 60 or even older and building inter-generational wealth. What’s impor-tant is not to panic and sell at or near the bottom. You also need to make sure your overall investment strategy (we call it “asset allocation”) is sound. Th is leads to step two.

Murray uses the term “planning-based invest-ment management,” which is to say that investment management ought to be planning-based and not market-based. Which leads us to the fi nancial plan-ner’s role in this three-step process. A formal fi nancial plan includes an asset allocation strategy that derives a proforma long-term rate of return required from your investments, which will: a) deliver the lifestyle you seek and b) deliver the estate value you wish for your heirs. Based on the numerous fi nancial plans I have prepared over the years, a proforma nominal long-term rate of return on a balanced portfolio is typically fi ve to six per cent. Hold that number and move on to step three.

Now we need an accountant to help you or your

investment manager calculate the actual historical rate of return

on your portfolio. Two numbers are required here, and one derives the other. Th e fi rst is the series of annual simple rates of return earned

year by year. Th ese aren’t the numbers to focus on, because they’ll likely jump

all over the place and not give you a clear picture of how you’re doing long term. But they can be used to derive a running, single long-term compound

return, and this is the one to compare to in step two. Refer to cmabc.com for an

Excel spreadsheet showing calculations for a long-term compound return (under “Connect with CMA” in the publications section.)

If your long-term compound return in step three is at, near or above your financial planning proforma return in step two, you know you’ll be on track to meet your goals (as long as you also adhere to your bud-geted spending plan). So, there, you’re done!

August 31, 2009 marked the one-year anniversary of the steep decline in September/October

2008. Short-term pain tends to breed extreme pessi-mism about the long term. However, the world’s markets have strengthened signifi cantly since March 2009. Sample client portfolios for that up-and-down year had returns of two-and-a-half to fi ve per cent. Th e impact of these negative returns on each of their long-term compound returns was between three-quarters of a per cent and one-and-a-quarter per cent – in all cases the long-term compound returns retreated to approximately six per cent. Th ese were all portfolios with a balanced strategy involving between 40 per cent and 60 per cent in equities. You’ll note above that a long-term proforma rate of fi ve to six per cent is suffi cient for most people to achieve their life goals.

In summary, don’t forget these three steps to investing peace and you’ll be able to sleep at night:

1. Avoid the siren-call of the fi nancial press.2. Prepare a formal fi nancial plan that derives a

long-term target rate of return that delivers on your goals.

3. Calculate your actual long-term compound return and compare it to the target rate. ■

DON NILSON, CFP, CMA, FCMA is a fi nancial planner and portfolio manager with AFT Trivest Management, and the principal of Nilson & Company, a public practice accounting fi rm. He serves on the National Board of the Canadian Institute of Financial Planners and is a member of the Update Editorial Task Force.

www.cmabc.com

As we come out the other end of yet

another cycle, it’s worth reviewing some investing lessons. There are three steps to remember and

embrace in the long-term stewardship of wealth accumulation.

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enablerake a look at the CMA competency wheel below. Th e functional or professional competencies of the CMA are embedded in the outer ring of “enabling” competencies.

Last issue we discussed the importance of developing both the inner ring of functional

competencies and the outer ring of enablers. Developing the technical or functional side of the equation is rela-tively easy. It’s the way we carry out our professional responsibilities – based on personal evalua-tion of ourselves and the feedback we receive from others – that often proves to be the “un-enabler.”

A brief example. Recently I was engaged by an international commodity fi rm to review and assess the processes of acquiring, refi ning and delivering raw materials. Th e three operat-ing divisions involved were producing below the return levels required by the organization and there was a real threat of shutdown. A process review ensued, and discussions with the management teams, supervisors and front-line workers were conducted. Th e lack of productivity had nothing to do with breakdowns, a shortage of equipment or other technical issues. It was the people. Specifi cally, the leaders of three small business units, who were spending the majority of

their time running interference and turf-protecting. Th is is not an isolated case. A great deal of my professional time and practice is focused on, by necessity, fi xing the way an organization, team or individual conducts business.

Now take another look at the outer ring of the CMA com-petency wheel; the enabling competencies – leadership and

group dynamics, professionalism and ethical behaviour, effective communications, problem-solving and

decision-making. Th ese are part of an organization’s intangible assets, which can represent upwards

of 75 per cent of an organization’s value. Why is this side of the professional competency equation the hard part? Why is it so diffi cult to synthesize and defi ne what it takes to be a great leader and embed these characteristics in a corporate culture?

Two of the primary reasons are perception and intent – the way we see our own motivations

and the way others view us by our actions. It was for these reasons in my last Update article I recommended

“360-degree” surveys to evaluate whether our perceptions of ourselves are what others see in our actions. Feedback from diff erent sources – subordinates, peers, superiors and friends – rarely correlates with your own perception. But there are other barriers to developing eff ective leadership in organizations.

Leadership brings other professional skills into focusBy JEFFREY SPARLING, CMA

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JEFFREY SPARLING, CMA is the Manager of the Offi ce of Strategic and Performance Management with Bouchard and Company, Chartered Accountants (www.bouchardco.com). He is a member of the Update Editorial Task Force and serves on the CMA Continuous Professional Learning and Development Committee and CMA Public Licensing Committee. He is also a moderator for the CMA Strategic Leadership Program.

www.cmabc-pd.com

In 2005, the American Management Association and its affi liates commissioned the Human Resource Institute to conduct a global study of leadership that explored the roles leaders play in organizations, how best-in-class organizations develop leaders and how leadership may change over the next decade (www.cmctraining.org/whitepapers). Th e study concluded the major barriers to leadership development are:

1. Lack of measurement of leadership behaviours2. Inadequate leadership development program

content3. Lack of rewards for leadership behaviours4. Lack of supportive culture

Th e top 12 leadership competencies from the AMA survey are:

1. Strategy development2. Communication skills3. Developing leaders4. Hiring talent5. Fostering creativity and innovation6. Driving for results7. Knowing the business8. Serving as a role model for values9. Business ethics10. Knowing the industry11. Building relations in organizations12. Aligning organizations with the market

The AMA survey and study help illustrate not only the scope and breadth of the CMA’s enabling competencies, but the necessity of developing skills that allow us to be eff ective strategic and change-management leaders in the organizations we serve.

Th e AMA study found the top fi ve leadership charac-teristics that enable the execution of strategy are:

1. Openness to change2. Interpersonal communications3. Support for innovation4. Flexibility5. Group communicationsAnother key finding from the AMA study was

that organizational leadership, which has always been challenging, has become even more stressful and diffi cult in recent years, especially as technology and new organizational structures change the ways leaders do their jobs.

Today’s leaders are expected to be excellent strate-gists and communicators, while also developing others to assume leadership roles. Business ethics will become increasingly important to leadership over the next 10 years, as best-in-class companies are committed and unremitting in their pursuit of leadership excellence.

Next issue we’ll examine how to identify, prioritize and acquire a well-balanced portfolio of enabling competencies. ■

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Investing in influenceThe best leaders inspire commitment, not just complianceBy ROSIE STEEVES, PhD

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In contemporary organizations, leaders’ ability to infl uence and win commitment is increasingly being relied upon. In fact, the impact of commitment gained through meaningful and value-driven infl uence, as opposed to people doing what’s mandated, is critical in mobilizing teams to connect to greater purpose.

Webster’s Dictionary defi nes infl uence as “the power that somebody has to aff ect other people’s thinking or actions by means of argument, example or force of person-ality.” So, infl uence is about power, but the way that power is gained varies, as do the ways in which others respond to those eff orts. Infl uence is not eff ective unless you get the right response.

In organizations, power is gained either through position or via relationships. Those in formal positions of authority often see themselves as leaders, while those not in power may not see them-selves as leaders, although they have the potential because they have the ability to exert power through infl uence.

To move anything signifi cant forward, leaders must give full attention to the quality of relationships. Management consultant Margaret Wheatley suggests

that a core principle for developing rela-tionships is ensuring people are engaged in meaningful work together. Th e intent of the infl uence has to be seen as valuable and important, which requires open-ness, honesty, integrity and the ability to engage others in debate and discussion. Says Wheatley, “Trust that meaningful conversations can change your world.”

Th is is where other leadership quali-ties play a role in infl uencing eff ectively. Individuals who are respected and seen as credible are most capable of bringing others along, and leaders who have a vision – one that tugs at people’s values and desire to belong to something that matters – will signifi cantly boost results. Often, an indi-vidual’s intentions in exerting infl uence will determine the outcome. It takes concerted eff ort and desire to engage others fully to ensure commitment, which is the diff erence between power over and power with.

Ultimately, people respond to others’ eff orts to infl uence them in one of three ways: resistance, compliance or commit-ment. Resistance is a sign that the eff ort has been ineff ective, whereas compliance means people are willing to go along with the request, but with little heart or

Influence tips for organizations■ Invest in relationship-building. Put others’ needs before your own, fi nd commonalities

and take time to listen and ask questions.■ Find out about others’ beliefs, attitudes and values. Know the person who comes to

work, not just the worker.■ Check out your credibility. This demands being believable and reliable. Do what you

say you are going to do and be honest about what you can’t do.■ Use a blend of tactics to infl uence others: logic (appealing to intellect), heart

(appealing to emotions) and hands (appealing to co-operative eff orts).■ Use infl uence responsibly and only to mobilize actions and plans you believe in and

value. Pay attention to your own energy and passion. Your enthusiasm will take you further than fancy selling or persuasion techniques. Be real.

nfl uence is a critical component of leadership, yet people often ask what it is, how it’s used and how they can increase their sphere of infl uence within organizations. Improving your ability to infl uence eff ectively is a worthwhile pursuit, as it can lead to greater employee engagement and better business results.I


engagement. Power over others usually results in resistance or compliance.

Commitment, however, is the best possible result. When people are commit-ted, they are willing to go the distance and engage in the cause, which ultimately creates outstanding results for organiza-tions. Only eff ective infl uence results in commitment.

In other words, leadership is about influencing through relationships for a purpose that is grounded in common values. To infl uence others responsibly demands that values be honoured and the position of power not be abused or lever-aged for the sake of achieving selfi sh or unlawful gains. Th is darker side of infl u-ence cannot be equated with leadership.

Infl uential leaders, regardless of title or position, are credible, respected, self-aware, confi dent and humble. Th ey achieve results so that, even when others are skeptical or cautious about the new endeavour being proposed, they are willing to follow because of their relation-ship with the leader.

Consequently, those not in positions of authority need to get over any self-imposed limitations and crank up their infl uencing skills. Senior-level folks, on the other hand, often have to overcome the hurdle of their perceived power to uncover whether compliance or commitment lies behind the “yes” they hear from others. ■

DR. ROSIE STEEVES is the co-founder and principal of The Refi nery. A certifi ed executive and leadership coach, she has worked with CEOs and senior executive teams of Fortune 500 corporations, as well as smaller companies experiencing start-up challenges. With over 30 years of experience in the leadership development fi eld, and a PhD focused on leadership, she has spearheaded leadership initiatives in countless organizations.

Meet Dr. SteevesDr. Rosie Steeves will be presenting “Breaking the Leadership Mould: 20 Principles to Achieve Organizational Excellence” at the 2010 CMA Leadership Conference, May 18 to 19, 2010 at the Hilton Vancouver Metrotown in Burnaby, B.C.

Visit www.cmabc-pd.com/conferencefor full details on seminar presenters and keynote speakers. Early bird registration closes March 1. Register today, as the last three years have sold out!



Why you need not fear your next Internal AuditBy TOM PEERLESS, CMA

ast issue, I tried to dispel some myths about Internal Audits. In this issue, I attempt to take some of the mystery and apprehen-sion out of the process.

It’s natural for auditees to feel some anxiety prior to an audit. Auditors receive

all kinds of questions:■ What are the auditors going to look at?■ Who are they going to talk to?■ How long will they be in my offi ce?■ What if they fi nd something wrong?Th ese questions are often based on a misconcep-

tion that auditors are only looking for problems, when in fact we’re looking for risks, and any corresponding actions to reduce or eliminate those risks.

Internal Auditors make use of attribute and perfor-mance standards, as established in the Standards for the Professional Practice of Internal Auditing, aff ec-tionately called the Red Book.

According to the Red Book, Internal Auditors have leeway in the conduct of their work, but: “Th e Internal Audit activity should evaluate and contribute to the improvement of risk management, control and governance processes using a systematic and disciplined approach.”

This systematic and disciplined approach, or “Internal Audit cycle,” consists of four parts: planning, fi eldwork, reporting and follow-up.

PlanningTh e planning phase is the most important part of an Internal Audit. As the Red Book states, “Internal Auditors should develop and record a plan for each engagement, including the scope, objectives, timing and resource allocations.”

To achieve this standard, Internal Auditors assess risks in the area they are reviewing. We do this by interviewing the organization’s management, reviewing relevant policies and considering factors such as changes to the external and internal environ-ments. Th is is an opportunity for the auditee to add value to the work of the auditor. Providing useful, relevant information will increase the likelihood of valuable fi ndings being produced. It will also reduce the amount of time the auditor is on-site. Th e risks identifi ed allow us to develop a focused scope and objectives for the audit. Th e scope tells us what we will audit and the objectives tell us why we are auditing that area.

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Without audit software, I generally document this in a format similar to the table above.

FieldworkTh e fi eldwork stage is the part of the project where we collect evidence to support our conclusions. When we reach this stage everything should be orga-nized and ready for the arrival of the engagement team. As an auditee, that would include preparing your workgroup or team for the arrival of the audi-tors, including setting up adequate resources for the team to work and any other items the auditors need to ensure the fi eldwork goes smoothly. Th e Internal Audit lead is responsible for requesting things his or her team requires ahead of fi eldwork, but it goes a long way when the auditee asks fi rst, or even antici-pates the needs of the engagement team.

Upon arrival of the audit team, an entry meeting, which outlines the scope and objectives of the audit, is held. We may also discuss any emerging risks or changes to the department from when the engage-ment was in the planning stage.

Auditees sometimes comment that my auditors are asking the same questions over and over, or do not seem to understand what they are being told. Th is is because we rely on the skills and knowledge of the auditee to obtain suffi cient evidence, which we verify through third-party sources such as exception reports, other experts and interviews.

Internal Auditors document results in fi ndings or observation sheets. As a general rule, I meet with my auditees every day to inform them of any fi ndings that have been uncovered. Th is gives them an opportunity to accept, refute or investigate the fi nding prior to my team leaving the fi eld.

Upon completion of fi eldwork Internal Auditors conduct an exit meeting with auditees to review fi ndings and go over any outstanding issues or further information required. I use this meeting to encourage auditees to accept the recommendations that will soon follow in our report.

ReportingTh e reporting phase is where the Internal Auditor leaves a legacy. A good audit involves reporting throughout the engagement through open, some-times daily, communication. Th e ultimate result of this communication is a draft report. Th e draft report is basically a summary of audit fi ndings and should be issued as soon as possible after fi eldwork. Th ere should be no surprises for the auditee. Any new information in the draft report can be expected to result in resis-tance from the auditee to accepting the fi ndings.

Follow-upTh e fi nal step in the Internal Audit cycle is follow-up. At a pre-arranged date, the auditor will either request confi rmation that a recommendation is complete, return to re-test the implementation of the recommendations and/or ensure the recommendations and subsequent controls designed by management are eff ective. If the auditee has not implemented the recommendations, Internal Auditors are obligated to report this to the audit committee. As an auditee, you don’t want this to happen, as the committee has the authority to force you to implement the recommendations, or worse: force management to implement the recommendations and place sanctions on employees.

Next issue I discuss the role of Internal Audit in good corporate governance. ■

SCOPE: PRIVACY AND PROTECTION OF INFORMATIONOBJECTIVE: TO DETERMINE IF THE WORKGROUP COMPLIES WITH XX COMPANY’S PRIVACY COMPLIANCE REGIME

Risk type Description of risk

Controlled risk assessment (H/M/L)

Rationale for assessment; evidence to support risk assessment

Proposed test(s) Expected result

Working paper reference

Privacy Staff do not adequately control the information of their stakeholders.

High Previous audits found staff did not lock their workstations, and passwords were found attached to their monitors.

In last year’s audit, employees did not lock up client fi les at night.

Perform walk-around and review all workstations in the workgroup for privacy breaches as per XX Company policy manual section 1.1.1.

1. All workstations are locked when staff are not at their desks.2. Files are secure when not in use.

TOM PEERLESS, CMA is a Director with PRA Group (www.pragroup.ca). PRA Group specializes in outsourced and co-sourced ERM, Internal Audit, forensic audit, banking system conversion, SOX compliance and IT audits. He is also currently President of the Vancouver Island chapter of the Institute of Internal Auditors.



The application phase beginsBy GEOFF BRYANT, CANDIDATE IN THE CMA PROGRAM

ith the case exam over and the antici-pation of year two of the Strategic Leadership Program (SLP) beginning, I’m reminded of what it took to get here.

Th e fi rst year, known as the development phase, focused on honing individual skill sets in a variety of disciplines through assignments and interactive sessions. In my opinion, the goal of year one is to develop a new way of thinking and learn a methodology for analyzing opera-tional and strategic issues through casework.

Development phase versus application phaseAs I approach the end of module four and prepare for the interactive session, I’ve noticed a diff erence in the cases, readings, online discussions and other assignments compared to year one (the develop-ment phase). All aspects of year two require a deeper

level of thinking and a more critical approach. Th e issues at both an operational and strategic level are more complicated and the amount of groundwork required to develop an understanding of the current operating environment has increased. Candidates are now expected to build situational analysis based on a particular case. Doing so builds a strong under-standing of all aspects of a company, rendering the analysis of issues and alternatives stronger, logical and more convincing.

Another key diff erence in year two of the SLP is that the majority of assignments are group-based. Everyone has a story or nightmare about group work. However, with most of us being mature students, I’ve found working in groups strengthens learning outcomes, as each group member has a diff erent back-ground with a varied skill set and a fresh perspective.

I was very fortunate to have been placed in a group with talented individuals who off er valuable experience.

Module fourTh e two major assignments in module four focus on understanding an organi-zation’s value chain. Th is was a term I had heard before but did not fully under-stand. After completing assignment one, I dissected the value chain of my own employer, Océ Display Graphics Systems. I’ve developed a greater understanding of how important it is that the sequence of activities required to make a product or provide a service is meaningful and supports the company’s overall strategy.

Assignment three was the fi rst group case report. Th is case focused on a lawn care service provider that faced challenges with its current processes and industry trends. Although the degree of analysis required seemed daunting at first, my group found it useful to revert back to the logical case framework developed in year one.

My group and I look forward to the interactive session, when we will have the opportunity to present our case fi ndings and learn how other groups approached their analysis. ■

W

GEOFF BRYANT is a Junior Accountant with Océ Display Graphics Inc., and is currently a student in the CMA Strategic Leadership Program. He is also a member of the Update Editorial Task Force.


DIARY OF A CMA IN TRAINING

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BOB GAUTAMA, CMA is Director, Programs at CMA British Columbia.

The CMA Board Report: an overview

Following up on the summer 2009 issue of Update, which provided an overview of the two-year CMA Strategic Leadership Program (SLP), this issue we discuss the culmination of the SLP, the CMA Board Report.

By BOB GAUTAMA, CMA

he Board Report is the fi nal evaluation stage of the SLP. In small groups candi-dates demonstrate, both orally and through a written submission, their mastery of the

knowledge and competencies they have acquired up to this point in their CMA education. Th is is accom-plished through a large-scale integrative case study provided to candidates in the last few months of the SLP. Th is case study considers quantitative and quali-tative factors from the CMA competency model and is designed to ensure candidates consider all of these factors when completing the Board Report. Th e Board Report process builds on the teamwork aspect of the SLP and is reminiscent of a team working together on a project for an employer. It also allows for the evaluation of candidates in a group setting.

There are two components to the CMA Board Report: a written submission and an oral presentation defending the recommendations provided in the writ-ten component. Both the written and oral components allow CMA Canada to assess whether candidates have acquired the six functional and four enabling competencies. Candidates must clearly demonstrate they have met at least the basic level of profi ciency expected of a CMA as defined by employers and clients, thereby ensuring CMAs are fully trained as strategic fi nancial management professionals.

Written Board ReportTh e objective of the written Board Report is to determine

if candidates have satisfactorily demonstrated the profi -ciencies within each of the six functional competencies and four enabling competencies, as defi ned in the CMA Competency Map. Since they have approximately four months to complete this component, the expectations of the written Board Report are very high. Th e submis-sion must be (approximately) 10,000 words in length. However, the complexity of the Board Report case is very high and the challenge for candidates is to address this complex business situation succinctly, especially as most groups fi nd that their fi rst drafts are 30,000 to 40,000 words long.

Oral Board ReportTh e objective of the oral presentation is to evaluate candidates’ ability to develop a coherent, integrated and comprehensive report that would be useful to a board of directors as a guide for action. It defends and advances the ideas put forth in the written Board Report rather than simply repeating the recommendations candidates provide in the written submission.

Candidates are required to pass the Board Report to successfully complete the Strategic Leadership Program. Once they have passed the written and oral components of the Board Report, they become eligible to attain their CMA designation. If the SLP is the cornerstone of the CMA accreditation process, it can be argued the CMA Board Report is the cornerstone of the SLP. ■

T

CMA PROGRAM UPDATES

www.cmabcblog.com/ future-cma/

In upcoming issues of Update we’ll be covering the current pathways to a CMA in B.C., including the CMA Accelerated Program (formerly the FastTrack program), the CMA Accredited Program (CMA Canada-accredited bachelor of business administration or bachelor of commerce degree programs specializing in accounting), the CMA Executive Program and the CMA-MBA Combined Program.

From recent member feedback we know many of you are unfamiliar with the educational options for students and business professionals interested in pursuing a CMA, as many of the programs have changed since you completed your designation. We hope this series of articles will bring you up to date and give you the tools to speak about the CMA designation to students, co-workers and other industry professionals.

ARTICLES TO WATCH FOR

CMA program updates

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Passing the torchUpdate sits down with your Chairs past and present

pdate recently interviewed Donnie MacDonald, CMA, FCMA – new Chair of the CMA British Columbia Board of Directors – and Mia Maki, CMA, FCMA,

Past Chair on their insights and vision for the CMA designation during their terms.

Update: Donnie, what has it been like stepping into the position of Chair? Can you give us a brief descrip-tion of your role?MacDonald: We have a solid board made up of well qualifi ed and diverse – both geographically and profes-sionally – members. It is exciting to be able to work with all of them and to continue to build an excellent team. We have some challenges ahead of us, quality growth being one of them, but I think if we work as a team we can make a diff erence.

Being Chair is a responsibility that I take quite seri-ously. It’ll be a challenge to fi ll the shoes of past chairs such as Mia and Mehb Jessa (2007-2008). As Chair I facilitate the performance of the board and act as a leader and spokesperson for the board. I also act as liaison between the board and the Society.

Update: Are you planning to implement any changes during your year as Chair?MacDonald: I don’t see major changes being required. Last year the strategic planning task force and board agreed that quality growth is what we should focus on over the next few years. I would also like to see CMA BC have a strong voice at the national level in the eff ort to achieve consistency among our partners.

Update: Mia, what has it been like serving as Chair over the past year? Can you give a brief description of your role as a Past Chair?Maki: Th is board is a great board. Th ere’s a tension that comes from diversity, good discussions and good decisions. It was a real joy to chair this group. I also really enjoyed attending events where Colin spoke – he has such a great sense of humour!

As Past Chair, one of my key roles is to chair

the Accreditation Committee, which reviews the candidates being brought forward for their CMA designation. I also still serve on the Executive Committee of the Board.

Update: What were some of the major challenges and successes during your term?Maki: I was pleased to update the Terms of Reference for board members. I think it’s an important tool to set clear expectations and to recruit great board members.

Update: Do you have any advice for Donnie as the incoming Chair?Maki: Enjoy! It’ll be a great year and if she is as lucky as I was, she’ll meet members from all over the province and get a rare and broad view of our designation.

Update: Any words of advice for other members inter-ested in becoming involved with the CMA BC board?Maki: Get involved! Volunteer for a role in your chapter and attend as many functions as possible to get to know the CMAs in your community.MacDonald: I would encourage every member to consider joining the board. Take a minute and do a self-assessment; you’ll be amazed at what you can contribute. Member participation is crucial to the success of our designation, particularly in these competitive and challenging economic times.

I’ve always felt that I owed my career success to my CMA designation. Th e CMA provided me with the tools to be a good management accountant and to be part of an executive management team. Volunteering on the board has also allowed me to give back to the Society and has contributed to my own professional development as I’ve found board work at any organi-zation expands your perspective. ■

Y Read the full interview with MacDonald and Maki on www.cmabcblog.com, the Society’s blog, to fi nd out why they became CMAs and learn about their expe-riences serving on the CMA BC Board of Directors.

U


DONNIE MACDONALD, CMA, FCMA – CHAIR Since earning her CMA in 1984, Donnie has been a Society supporter serving on a number of committees, such as the Audit Committee, as well as the Board of Directors. In 2008, she was recognized with the Society’s highest honour, an FCMA. MacDonald is Vice President, Finance and Controller at Westminster Savings Credit Union. Active within the community, she is also a board member of the North Shore Crisis Services Society.

MIA MAKI, CMA, FCMA – PAST CHAIR A CMA since 1997, Mia has been active in the Society for many years, both as a moderator for the CMA Strategic Leadership Program and as a member of the Board of Directors. She was recognized with the Society’s highest honour, an FCMA, in 2005. Maki is principal of Quimper Inc. and a faculty member of the University of Victoria Faculty of Business.

Donnie MacDonald and Mia Maki

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In with the newThe 2009-2010 CMA British Columbia Board of Directors

very year, CMA British Columbia elects members to serve on the CMA British Columbia Board of Directors. Th e 2009-2010 board was elected at CMA BC’s annual general meeting September 25, 2009.

Th e role of the Board of Directors is to govern the CMA profession in B.C. and the Yukon, and to develop policy supporting the Society’s mandate on professional education, regulation, member service and protection of the public interest.

E

LAY REPRESENTATIVES

Doug Alley, B.Comm.Vice President, Human Resources

Business Council of British Columbia

Cathy Whitehead McIntyre BA, MBA

Principal, Strategic Initiatives Inc.

Anders Ourom, LLBLawyer and Consultant

DIRECTORS-AT-LARGE

Michael Brown, CMABusiness Analyst

Raymond James Ltd.

Jeff Champion, CMAConsultant

Gerald Dragomir, CMASenior Partner

Dragomir Liu & Co.

Clayton Harmon, CMA, FCMAConsultant

Ron Matthews, CMAConsultant

Avantage Partners

CHAIR FIRST VICE CHAIR SECOND VICE CHAIR TREASURER PAST CHAIR SECRETARY

Donnie MacDonald, CMA, FCMAVice President and Controller

Westminster Savings Credit Union

Kelvin Stretch, CMA, FCMASecretary Treasurer, School District

No. 73 (Kamloops/Thompson)

Stephen Lee, CMA, FCMAVice President

Corporate Development, Please Mum

Patricia Kennedy, CMA, FCMAChief Operating Offi cer

Pacifi c Flying Club

Mia Maki, CMA, FCMAPrincipal, Quimper Consulting

Faculty, University of Victoria Faculty of Business

Colin Bennett, CMA, FCMAPresident and CEO

Certifi ed Management Accountants Society of B.C.

DIRECTORS-AT-LARGE

Jim Olsen, CMAGeneral Manager, Operations Fairwinds Community Resort

Simon Philp, CMASenior Account Manager, Commercial

Banking, HSBC Bank Canada

Cecil Stoochnoff , CMAFRM, B.C. Senior Accountant

Tembec

Tammy Towill, CMAInstructor, Faculty of Business

Capilano University

YUKON REPRESENTATIVE

Laura Hartley, CMAFinancial Services Offi cer

Yukon Worker’s Compensation Health and Safety Board

(photo not available)

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Vancouver chapterMA British Columbia chapters are an essen-tial link in the Society’s relationship with its members and the local community. For each chapter, an executive committee of CMAs

is responsible for organizing and promoting activities to encourage member involvement, networking and professional development throughout the year.

To recognize the efforts of these committees and learn about their upcoming initiatives, Update spoke with Stewart Marshall, CMA – chair of the Vancouver chapter.

Why did you choose to get involved with the Society at a chapter level? I was asked in 2006 by a previous chair, Ron Matthews, CMA to host the breakfast coff ee-and-muffi ns event, which I did and have continued to do every month since. Th ese events introduced me to the wide variety of CMA members; I would estimate that since its inception I have met over 300 members. I was impressed by the community of CMAs and the varied roles they played in the business community, from non-profi ts to government; law enforcement to entrepreneurs. It was this, together with the members of the Society offi ce in Vancouver, that encouraged me to get involved.

Th e most challenging aspect of the role is managing the time spent on administrative details. In terms of what is rewarding, it’s the exposure to more members. I was particularly proud to attend convocation this year and realize what an amazing community of professional people I belong to, and through the chapter have an opportunity to contribute to.

What are you doing in your market to support growth and brand awareness?I believe the biggest impact we can have across the chapter is likely to be online. Ensuring we have a presence on sites such as LinkedIn, Facebook and Twitter means we are participating in the latest

technological advances and positioning CMAs as leaders in this area.

What are some of the upcoming chapter initia-tives you have planned for 2010?One of the challenges we face is the geographical spread of the membership. With an area that stretches from Hope to Whistler it’s diffi cult to reach all of our members; hence we’ll be continuing to focus on increasing our online initiatives in 2010.

Th e fi rst initiative involves building an online com-munity through our website, www.cmavancouver.com, and our group on LinkedIn. Th is will include more articles for members on the use of technology, and potentially some online events. Dave Macdonald, CMA is the chapter director for online communities and he’ll be driving this in the coming months.

Secondly, in 2010 there will be an increased emphasis on CPLD, with a new director responsible for CPLD on the chapter board. Felicity Withington, CMA is stepping into this role, and our hope is to increase the fl ow of information about CPLD oppor-tunities available from all sources and also run some of our own events.

The third initiative relates to networking. This applies to online and offl ine networking and will see the continuation of our morning coff ee-and-muffi n sessions, together with some other lunchtime and evening opportunities.

Why did you choose to become a CMA?I have been a Chartered Management Accountant in the U.K. since 1994. When I arrived in Canada in 2005 it made sense to become a member of the Canadian equivalent, which I did through the Mutual Recognition Agreement. ■

Y If you are interested in getting involved with the Vancouver chapter, please contact Stewart Marshall at stewart@fi nancialstoryteller.com or 604-617-0445.

C


CHAPTER PROFILE

STEWART MARSHALL is chair of the Vancouver chapter. A fi nancial storyteller, he is a mentor in the New Ventures B.C. competition, and has been a judge/mentor at numerous undergraduate case competi-tions, including the SFU Student Entrepreneur of the Year.

A Vancouver chapter breakfast networking event at Licious Living.

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MEMBER UPDATE

Y Arthur Chung, CMA, CFE has taken on the position of Vice President with BCCA Employee Benefi ts Trust. Before joining BCCA, Arthur was a Senior Lead with the Industry Training Authority.

Y Diane Chung, CMAhas been promoted from Marketing Manager, Vancouver to the fi rm-wide role of Industry Business Development Project Manager at Fasken Martineau DuMoulin LLP.

Y Drew Collier, CMA, MBA has taken on the role of Chief Administrative Offi cer, Development and Alumni Engagement at the University of British Columbia. Previously Drew held the role of Vice President, Offi ce of Strategy Management with Vancity. Drew also recently joined the board of the Neil Squire Society, a not-for-profi t organization that uses technology, knowledge and passion to empower Canadians with physical disabilities.

Y Two B.C. CMAs have been

elected to the Vancouver chapter of the Financial Executives International Executive Board: Brad Cruickshank, CMA (CFO, Dueck Auto Group) as President and Jeff Champion, CMA (consultant) as chair of the membership committee.

Y Ravinder Dhaliwal, CMA has taken on a new role with the Bank of Montreal and is now a Commercial Account Manager. Previously he was a Financial Services Manager with the bank.

Y Don Epp, CMA has been promoted from Assistant Director, Fiscal Planning and Estimates to Executive Director, Estimates and Reporting with the B.C. Ministry of Finance.

Y Cheryl Gagnon, CMA has joined Raume Holdings Ltd. as CFO. Previously Cheryl was the Sales Controller for Tolko Marketing and Sales Ltd.

Y Al-Karim Kara, CMA has joined the Land Title and Survey Authority of B.C. as Vice President, Business

Transformation and CIO. Previously Al-Karim was Xantrex Technology Inc.’s General Manager, Mobile and Vice President, Operations.

Y Timothy Lallas, CMA has been appointed to the new position of Vice President, Finance, Administration and CFO with Greystar Resources. Before joining Greystar Tim held the posi-tion of Director of Risk with Th ompson Creek Metals Company Inc.

Y Jon Lever, CMA has been appointed as a Director and CFO of Mega Moly Inc., a TSX Venture Exchange-listed exploration company. His primary positions are CFO of Resinco Capital Partners Inc., an investment company listed on the Toronto Stock Exchange, and CFO of Finavera Renewables Inc., a wind energy developer listed on the TSX Venture Exchange.

Y Joe Nardi, CMA recently joined the Justice Institute of B.C. as Finance and Administration Manager,

moving from the RCMP, where he was Senior Financial Analyst, Corporate Infrastructure.

Y Lisa Perkins, CMA is now Director, Business Management with the Ministry of Citizens’ Services for the provincial government. Before joining the ministry she was the Manager of Finance for the Royal B.C. Museum in Victoria.

Y Robert Pilz, CMA, B.Comm. has been appointed to the board of directors of Regency Gold Corp., where he serves as chair of the audit committee. Robert also serves as CFO for First Nations Housing Solutions, Inc.

Y Nick Tan, CMA has joined the Internal Audit depart-ment at Premium Brands as a Corporate Auditor. Premium Brands is a leading specialty food manufacturer and distributor located in Richmond, B.C. Prior to moving to Premium Brands, Nick was a manager at Optimum Performance Products.

Members on the moveCongratulations to these CMA British Columbia members who have been promoted or accepted a new career opportunity:

ARTHUR CHUNGCMA

DREW COLLIERCMA, MBA

BRAD CRUICKSHANKCMA

TIMOTHY LALLASCMA

RAVINDER DHALIWALCMA

JEFF CHAMPIONCMA

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New facesWelcome to these new members of CMA British Columbia:

Y Robin Hemmingsen, CMA recently moved from Ontario to B.C., having been appointed Dean of the School of Business at BCIT. In Ontario Robin was Chair of the School of Accounting and Finance at Seneca College.

Y Matthew Knight, CMA fi rst moved to Quebec in 2003, where he held the position of Product Manager, Adams Golf (Fletcher Leisure Group). Having recently moved back to B.C., he is now a Senior Pricing Analyst for Best Buy Canada.

Y Shawn Terlson, CMA is Vice President of Corporate Services and CFO for Northern Health in Prince George. Shawn recently moved from Grande Prairie Alberta, where he was President and CEO for Peace Country Health.

Y Andy Tong, CMA recently moved to B.C. from Manitoba where he worked as Worldwide Product Marketing Director for ITT. He is now General Manager for Dekuma Rubber and Plastic Technology Ltd.

Members in memoriamWe wish to extend our sympathies to the family and friends of the following members who recently passed away:

Darell Campbell, CMA, FCMA, North Vancouver, B.C.Darell received his RIA in 1960 in B.C. An active Society volunteer, he served as Chairman and member of the Provincial Education Committee (1963-65), Vancouver Chapter Chairman (1958-59), Provincial President (1962-63) and National President (1968-69). In recognition of his service Darell received his FCMA in 1979, and his life membership in 1985. More recently,

he was a member of the Memorial Scholarship Fund (1985-90) and Professional Conduct Committee (1998-99), and chair of the Scholarship Fund Trustees in 1998 and 1999. It is with sadness we report that Darell passed away on September 25, 2009 at the age of 84.

Jack Tak-Chung Chun, CMA, Vancouver, B.C.Having obtained his CMA in 1973, Jack formed his own company to provide accounting services to the public in 1979. In 1989 he formed Fidelity Realty, where he was owner/broker. Jack passed away on June 16, 2009 at the age of 58.

Victor H. Hildebrand, CMA, Delta, B.C.Victor received his RIA in 1961 in B.C. During his career he worked for Ocean Construction in various senior-level management positions. In June 1990 he retired, having completed over 40 years of service with the same company. We received notifi cation that Victor passed away on November 9, 2009 at the age of 80.

Akio Robert Mori, CMA, Abbotsford, B.C.Akio received his CMA in 1977 in B.C. In 1997 he retired from his role as a Project Accountant for Concordia Management Company Ltd. Akio passed away in June 2009 at the age of 73.

Y If you would like to send a note of condolence to these members’ family and friends, contact Rick Lightheart, CMA, FCMA at 604-484-7004; 1-800-663-9646, ext. 7004; or [email protected].

Have you recently moved to a new company, or would you like to welcome a new CMA to your company? Submissions to Members on the Move can be emailed to Tiana Mah at [email protected].

Y Marie Whelan, CMA has joined Daiya Foods Inc. as its CFO. Before joining Daiya Foods,

Marie was Vice President, Finance and Admin-istration with IDELIX Software Inc.

Robin Hemmingsen, CMA

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MA British Columbia welcomed its newest members at this year’s convocation ceremony at the Vancouver Hyatt Regency Hotel on October 24, 2009.

Ceremony highlights included a piper procession leading the graduates into the ceremony, certifi cate and medal presentations and a valedictorian address

by Paul Richardson, CMA. Richardson spoke about his personal journey to becoming a CMA and shared memorable moments from the program, including learning that “picking the low-hanging fruit and lake-hopping are not recognized management strategies.”

Convocation platform guests included MC Kelvin Stretch, CMA, FCMA, First Vice Chair of the CMA BC Executive Committee; CMA Canada President Joy Th omas, CMA, FCMA, CMA Canada Board of Directors Chair; Bob Strachan, CMA, FCMA; Donnie MacDonald, CMA, FCMA, Chair of the CMA BC Executive Committee; Colin Bennett, CMA, FCMA, President and CEO of CMA BC; and Mia Maki, CMA, FCMA, Chair, Accreditation Review Committee.

Th is year’s medalists included Paul Richardson, CMA (gold), Bindi Sawchuk, CMA (silver) and Michael Chittenden, CMA (bronze) – who earned the highest combined grades on the CMA National Entrance Exam and in the CMA Strategic Leadership Program (SLP).

Awards of Excellence were presented to the SLP team of Winnie Chong, CMA, Bindi Sawchuk, CMA, Wendy Szeto, CMA and Denis Zyrianov, CMA for achieving the highest grade in the Board Report module of the SLP. Mark Mawhinney, CMA also won an Award of Excellence for obtaining the highest grade in the CMA Executive Program.

Th e evening’s highlights included a keynote address by work-place humourist Mike Kerr, who taught the graduates how to do the workplace “happy dance.”

Photos from the day’s events have been posted on the Society’s blog at www.cmabcblog.com and the CMA BC Facebook page and Flickr site. If you have photos you’d like to share with fellow graduates, email [email protected].

Convocation 2009New CMAs make the grade

2009 medalistsGOLD MEDALIST

Paul Richardson, CMAFinancial Analyst,

Canada Border Services Agency

SILVER MEDALIST

Bindi Sawchuk, CMATreasury Board Analyst, Performance

Budgeting Offi ce, Treasury Board Staff , Ministry of Finance

BRONZE MEDALIST

Michael Chittenden, CMA BBA, FCUIC, Manager,

Administration, Prepaid Card Programs, Peoples Trust Company

C

The graduating class of 2009 at the Hyatt Regency Hotel in Vancouver October 24, 2009.

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2009 Strategic Leadership Program Award of Excellence recipients:Winnie Chong, CMATax Associate, PricewaterhouseCoopers LLP

Bindi Sawchuk, CMATreasury Board Analyst, Performance Budgeting Offi ce, Treasury Board Staff , Ministry of Finance

Wendy Szeto, CMAAssociate Director of Student Financial Services, the Art Institute of Vancouver

Denis Zyrianov, CMAAccountant, DaCosta Management Corp.

CMA Executive Program AwardMark Mawhinney, CMA, Independent Businessman

CMA British Columbia would like to thank the sponsors of this year’s convocation:

Platinum – TELUSGold – B.C. Human Resources Management Association (HRMA) Silver – Canadian Western Bank, CCH – a Wolters Kluwer Business, Kwantlen Polytechnic University School of

Business, Hays Specialist Recruitment, Langara College, Mercer Bradley, Robert Half International, SFU Business, TD Insurance Meloche Monnex and University of Victoria Faculty of Business Executive Programs

We would also like to thank the following medal and program award sponsors:

Gold medal – Borden Ladner Gervais LLPSilver medal – Robert Half InternationalBronze medal – Account-Ability, a division of Miles Employment Group Ltd., CMA SLP Award of Excellence – Moxon Personnel Ltd. CMA Executive Program Award – David Aplin Recruiting ■

(All left to right) Top left: New grads Ramin Sabouhi, CMA, Claudia Moniz de Sa, CMA, Nadim Valiani, CMA and Percy Pun, CMA. Top right: Paul Richardson, CMA, Christie Elgin, CMA, Gary Pirtam, CMA, Daniela Girard, CMA and Derek Bideshi, CMA at convocation. Main: Ben Moxon, Strategic Leadership Program Award of Excellence sponsor with recipi-ents Winnie Chong, CMA, Bindi Sawchuk, CMA, Wendy Szeto, CMA and Denis Zyrianov, CMA, as well as Mia Maki, CMA, FCMA, Past Chair, CMA BC.

EDW

ARD

HEN

LEY,

CM

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Hats off!B.C.’s newest Life Members and Fellows

ach year at convocation, CMA British Columbia recognizes its newest Life Members and Fellows. Th is year CMA BC granted life membership to three CMAs – Donald Hincks, CMA, FCMA, Brian Kennedy, CMA, FCMA and John Lebidoff , CMA. Th ese members have been CMAs for more than 20 years, substantially contributed to the Society and the CMA designation and/or made a signifi cant contribution of knowledge to the accounting profession or business management.

Seven members who demonstrated excellence in management accounting, commitment to the CMA designation and Society and civic-mindedness that enriches their communities were inducted as Fellows of the Certifi ed Management Accountants of Canada – the highest honour granted by CMA Canada. Th is year’s list of fellows included Clayton Harmon, CMA, FCMA, Mark Kennedy, CMA, FCMA, Stephen Lee, CMA, FCMA, Mervin Michaels, CMA, FCMA, Aklilu Mulat, CMA, FCMA, Robert Pellatt, CMA, FCMA and John Reith, CMA, FCMA.

Y Clayton Harmon, CMA, FCMAClay Harmon earned his CMA designation in 1975, and has many years’ experience working with First Nations. Most recently he was Director of Finance for the Nisga’a Lisims Government (NLG). Before joining the NLG he served as Chief Financial Offi cer for the Penticton Indian Band, and worked as an accountant in public practice.

He is now a director on CMA BC’s provincial board and acts as a mentor for students. Active in the community, Harmon is Vice President of the Aboriginal Financial Offi cers of B.C. and a founding board member of the Penticton Indian Band Emergency Transition House.

Y Mark Kennedy, CMA, FCMAMark Kennedy is a partner in and owner of Blackfi sh Accounting Group, a public accounting fi rm that provides accounting, income tax and management consulting services. He has held managerial and leadership roles in accounting and fi nance for Canadian Fishing Company, the Canadian Armed Forces and Kennedy and Company,

a predecessor to Blackfi sh. An active member of the commu-nity and the Society, Kennedy has dedicated numerous hours to his role as director on the provincial board and to many Society committees, including coordination of professional development seminars held by the Society’s public practice

ECongratulations to B.C.’s newest Life Members

Donald Hincks, CMA, FCMACFO and Business Manager

Meadowridge School

Brian Kennedy, CMA, FCMA Retired

John Lebidoff , CMARetired

Congratulations to our new FCMAs

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group. He is also a board member and volunteer manager for several not-for-profi t organizations.

Y Stephen Lee, CMA, FCMAStephen Lee has over 20 years of fi nancial and executive management experience in the retail and hospitality industry. He is currently Vice President, Corporate Development at Please Mum, a national children’s wear retailer. Since earning his CMA in 1995, he has been an active Society supporter. Currently the Society’s

Second Vice Chair, he is a moderator for the CMA Strategic Leadership Program and CMA Executive Program, as well as a frequent volunteer judge at case competitions and a speaker at recruitment events. He is also a board member and treasurer for the Earthwise Society.

Y Aklilu Mulat, CMA, FCMAAklilu Mulat has held a number of roles in the for-profi t and not-for-profi t sectors. Currently he is the Chief Operating Offi cer of HOPE International Development Agency, an organization dedicated to helping the developing world by teaching income-generating skills and building community infrastructure. Mulat was also

Executive Vice President and CFO with Arrow Leadership International, and has lectured at the UBC Sauder School of Business and Trinity Western University. He is a moderator of the Strategic Leadership Program and a frequent volunteer judge for post-secondary case competitions, and has been an instructor in the Accelerated Program.

Y Robert Pellatt, CMA, FCMARob Pellat’s career spanned various roles with the B.C. Utilities Commission, the last being Commission Secretary for 15 years until his retirement in 2007. He earned his CMA 35 years ago in 1975 and has been a strong supporter of the Society and the designation ever since. He has served three times as a member of CMA Canada’s

National Conference Organizing Committees, been part of the Provincial Board and been a director of the Vancouver chapter for over 30 years, three times as its chair. He is currently a member of the provincial society’s CPLD Committee.

Y Mervin Michaels, CMA, FCMAA CMA and CA, Mervin Michaels has held various positions in post-secondary education and public accounting. Most recently, he was an accounting professor at Kwantlen Polytechnic University and principal of his own accounting practice. Active in the community and the Society, Michaels has served on many boards and committees – for example,

the Accounting Standards Board of the Institute of Chartered Accountants of Canada, where he was the fi rst CMA to be represented. In 2002, he was granted a life membership by CMA BC. He is currently a member of Capilano University’s Board of Governors and the Life Membership Task Force of CMA BC.

Y John Reith, CMA, FCMASince earning his CMA designation in 1981, John Reith, who is currently Financial Information Manager for Tembec’s Forest Products Group, has provided strategic and leader-ship expertise to various community groups in B.C. He was one of the founding members of the East Kootenay Chapter and served as chapter chair for several terms. He

has also been a member of the CMA Provincial Board, where he was Chairman of the Audit Committee. He is an active member of the community, and is past Treasurer and President of the Cranbrook Society for Community Living.

CALL FOR NOMINATIONSDo you know of an individual who meets the FCMA qualifi cations? If so, please check out our website at www.cmabc.com under “I am a CMA” in the Membership Services section for more information, or contact Lina Melo at 604-484-7007 or [email protected]. Nomination deadline: March 31, 2010.

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2010 Leadership Conference

Create PossibilitiesFinancial Leadership in Economic Recovery

Register today at www.cmabc-pd.com/conference

May 18-19, 2010Hilton Vancouver Metrotown • Burnaby, BC • www.cmabc-pd.com/conference

2010 Leadership Conference is an investment in the tools and knowledge that will help you succeed in economic recovery. Our expert speakers and moderators will guide and challenge you towards success in your personal and professional lives.

Don’t miss this opportunity to learn about the current trends shaping the economy, including:

• Principles to achieve organizational excellence

• Implementation of performance management programs to increase productivity and staff retention

• Leadership tactics to help you and your employees adapt in high change environments

• Practical insights into wellness programs and lifestyle benefi ts to attract and retain staff

• Sustainable risk management programs

• Measurement strategies for new media

PLUS…

The opportunity to network with more than 400 CMAs, CMA candidates and like-minded professionals while participating in leadership and development seminars addressing professionalism and ethical behavior, confl ict management, operational optimization, and more.

Keynotes

Peter Legge, Canada Wide Media

Limited

Diana M. Steele,

Eating for Energy

Brian Thwaits, Brainspeaker Inc.

Bob Strachan, FCMA, Chair, CMA Canada

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Documents

The tools you need to lead in 2010 Leadership · 2017-11-23 · The tools you need to lead in 2010 ... encourage you to do so, as it is an excellent source for Society news, as well