"ICANS ELECTS NEW COUNCIL AT ANNUAL MEETING"
June 2005 E-SCAN is a regular newsletter distributed electronically as a means of maintaining timely communication of, and encouraging a dialogue on, topics relevant to Chartered Accountants and students of the Nova Scotia Institute. Copies of recent issues can be obtained from the Institute website at www.icans.ns.ca under “Publications” then “E-SCAN.” ICANS WELCOMES NEW EXECUTIVE DIRECTOR On behalf of Council, we are pleased to announce that Michele Wood-Tweel, CA, CFP, TEP, has been appointed ICANS Executive Director. Michele has over 21 years of experience in public practice with KPMG LLP in Halifax, NS. She received her CA designation in 1985 and currently holds the role of Associate Partner - Private Client Advisory Services. Michele will be coming onboard at the Institute Office later this summer, at which time Lauchie McKenzie, FCA, will be stepping down as Interim Executive Director, a position he has held for the past year. We’d like to extend our sincere thanks to Lauchie - his dedication to the profession is unparalleled and we are deeply grateful for his leadership and support during this time of transition within the Institute. ICANS ELECTS NEW COUNCIL AT ANNUAL MEETING It’s official — As per tradition, the Institute’s Annual Meeting marked the change over in Council, with Sue Payne, CA, formally assuming her new role as President. Joining Sue on Michele Wood-Tweel, CA, CFP, TEP Council’s Executive Team will be Gordon Moore, CA (Vice President); Don Flinn, CA (Treasurer); and Leo Gallant, FCA (Secretary). In addition, Colin MacKinnon has been appointed as Council’s new Lay Member, replacing Clay Coveyduck. Clay is stepping down from this position after five years, during which time he made an outstanding contribution to the Institute. Other members of the 2005-06 Council include: Susan Carson, CA; Paul Comeau, CA; Bruce Densmore, FCA; Ted Doane, CA; Kirk Higgins,CA; Susan McIsaac, CA; and Greg Simpson, CA. Members also took advantage of the occasion to thank out-going president, John MacKinnon, CA, for his leadership and commitment. To commemorate his term, Council presented John with a Forerunner 201 — a personal training GPS sports device that will aid in his marathon training. Golf Tournament Instant Replay Under sunny, but breezy, skies, approximately 30 teams teed-off at this year’s ICANS Golf Tournament. The ‘low net’ winner’s team included Jack Gorrill (ICANS Golf Committee Chair), Ken MacDonald, Bruce Phinney and Jerry Inman. The ‘low gross’ winner’s team featured Andy MacDougall, Steven Eddy, Adam Sheparski and Matt Sullivan. And, while the final figure is still being tallied, all the proceeds from the golf tournament will support the Boys & Girls Clubs of Nova Scotia (details will be in the July E-SCAN). Special thanks to our 2005 Golf Tournament sponsors — Boyne Clarke, Johnson Inc., Scotia Bank, CBDC and OwensMacFadyenGroupInc. In addition, ‘hats off!’ to our great planning committee: Jack Gorrill (Chair), Peter Boyd, David Bruce, Marc Furlotte, Phil Gaunce, Greg Simpson and Cindy Mombourquette (ICANS staff representative) — your time and effort in organizing this event is really appreciated! Sponsoring a great charity — Mike Fraser (L), Ryan Lively (R) and Trevor Brown (behind), Executive IN THIS ISSUE . . . Director, Sackville Boys and Girls Club, strike a playful pose in front of • ICANS New Executive Director the ICANS’ Golf Day Sponsorship sign. The Boys and Girls Clubs of • AGM/Golf Tournament Recap - Nova Scotia has been the recipient of proceeds from the Institute’s New Council Elected annual golf tournament since 1997. • Email Scam Warning & Safety Tips To Follow • Accounting Education See page 2 for Foundation, Call for Proposals more fun ICANS • AcSB Roundtable golf tournament pics! • AcSOC Meeting in Halifax • Face-to-Face Recap • Changes/Here And There With Members/CAreer Opportunities • Reminders and Important Dates GOLFING IS GREAT! ald, Don Mac Ken rill. o R: r , L t Jack Go er’s winn nman & net’ rry I ‘low e NS’ inney, J ICA e Ph Bruc Stephen Shupe shows-off his fine form. Richard Neima tees off in beautiful Chester, NS. Above: Lauchie McKenzie and his team mates from the Shaw Group tee-off from the 10th hole. ICANS’ ‘low gross’ winner’s, L to R: Adam Sheparski, Steven Eddy, Andy MacDougall and Matt Sullivan. GOLFING IS GREAT! June 2005, Page 2 June 2005, Page 3 EMAIL SECURITY ALERT While you may already know about an email/web site scam involving the false representation of legitimate companies asking users to provide confidential and financial information, we wanted to provide you with some additional information and tips for safeguarding your privacy. In particular, please be aware that most reputable financial institutes will never ask you to provide confidential information through regular email. If you receive an email that asks you to provide confidential information such as your account numbers, PIN or password, do not respond. This type of invasion is called ‘phishing,’ which is fraud that is designed to trick individuals into disclosing confidential and financial information for the purpose of identity theft. As a general rule, you should not provide any confidential/financial information over the Internet in response to unsolicited requests. In addition: • If you don't know the source of an email or if it looks suspicious in any way, do not open it; delete it immediately. This is the best, preventative measure to avoid falling victim to a ‘phishing’ scheme. • Just because an email/web site appears to be from a legitimate company, doesn't mean that it is. ‘Phishing’ schemes are designed to look real and fraudsters will often use logos, trademarks or even the entire look and feel of a valid web page, to trick users into believing that it is genuine. Therefore, inspect any trademarks or logos that are used in an email/web site. If the image appears to be different or distorted, the email/web site is likely fake. • ‘Phishing’ schemes sometimes contain misspelled words - look for these either in the message or in the hyperlink, if one is provided. • Avoid responding to an unexpected web page or ‘pop-up’ window appearing to be from a legitimate company that requests that you provide confidential information for a purpose that seems legitimate — e.g. to prevent a security threat or to validate an account — as it is likely a fake. • Never click on a link contained in an email that you suspect may be fraudulent. The link could take you to a fake web site or initiate the installation of unwanted software onto your computer. Continued on page 4 EMAIL SECURITY ALERT - CONTINUED FROM PAGE 3 • If you have a relationship with the company mentioned in a suspect email and you wish to call them to verify the request, do not use any telephone numbers provided in the email message, as they may be fake as well. • Always be suspicious of web pages containing forms that collect confidential information and that do not use standard security features such as SSL encryption. Whenever you submit confidential or financial information online, always ensure that the web site you are communicating with is secure. You can check this by looking for a security symbol, such as a closed padlock, in your browser screen. You can also check the URL in the browser address bar—it should start with "https:" rather than just "http", as this signifies that the session is encrypted. Follow Safe Computing Practices The following are minimal recommendations provided by PC Medic (@PCMedic.com) as Must Haves for safe computing: ANTI-VIRUS Software Active, running to protect you, and up-to-date! NORTON is a very good choice - www.symantec.com. Also, you can check and clean your computer online, for free, at:http://housecall.antivirus.com. FIREWALL Make sure your computer is not visible on the INTERNET. An inexpensive hardware firewall/router does the trick, and typically costs under $50. ANTI-SPYWARE Software Like viruses, SPYWARE can harm your computer and you will need programs such as AD-AWARE by LAVASOFT www.lavasoftusa.com or Microsoft ANTI-SPYWARE - http://www.microsoft.com/athome/security/spyware/software/ default.mspx. For more info, visit http://www.microsoft.com/athome/security/spyware/spywarewhat.mspx. WINDOWS UPDATES Make sure you have the latest fixes and security patches for your version of windows. Click on the windows update icon or in INTERNET Explorer, click on TOOLS and CHOOSE WINDOWS UDPATE - this will ensure your computer is running healthy. For more, visit http://windowsupdate.microsoft.com. PASSWORDS If you don't have one, CREATE one, using a combination of letters and numbers. BACKUP! BACKUP! Make sure you have a copy of any critical data, safe on CD/DVD/TAPE etc. It doesn’t matter how or what you backup to, JUST DO IT! Ask yourself, “How much is your data worth?” Note: the above email/web site security information is published on the RBC web site and can be read in full at: http://www.rbc.com/security/index.html. AEFNS - CALL FOR PROPOSALS The Accounting Education Foundation of Nova Scotia (AEFNS) was established by the Institute in June 1993 to promote excellence in accounting education, to ensure Nova Scotia continues to produce the quality and quantity of Chartered Accountants needed in industry, education, government and public accountancy. The Foundation’s Key Objectives for Achieving this Goal include: • Providing Nova Scotia educational institutions with additional resources needed to strengthen the quality of accounting education in the Province; and, • Improving communication with the academic community and helping to attract outstanding candidates to the accounting profession. The Foundation is managed by a Board of Directors and reports to the Council of the Institute of Chartered Accountants of Nova Scotia. Continued on page 5 June 2005, Page 4 June 2005, Page 5 ACCOUNTING FOUNDATION, CALL FOR PROPOSALS - CONTINUED FROM PAGE 4 Funding Initial capital for the Foundation was raised through a $50 membership levy for the first three years, commencing in 1993, which resulted in approximately $164,000. Other sources of revenue since inception have come from donations, fundraising, bequeaths and investment income. The Foundation’s capital base - now grown to just over $200,000 - includes two funds: • The Allan Berkshire Fund – to annually award Nova Scotia UFE writers who place on the National Honor Roll (prior to 2003, it awarded the candidate with the highest UFE mark in Nova Scotia). • The Richard S. Brookfield Endowment – to foster accounting education in Nova Scotia through conferences or visiting lectureships. Activities Through the sponsorship of various events, the Board has provided approximately $60,000 in funding (since inception) to promote the objectives of the Foundation. Funded activities include: an ethics conference; guest speakers for accounting conferences and lectures; development of web-based case studies; case competitions and prizes; and, a research grant. Further details of these activities can be viewed in the Report to Members through the AEFNS link on the ICANS home page at www.icans.ns.ca. Call for Proposals The Foundation has issued a Call for Proposals for projects which will help achieve its objectives. Members of the Institute are invited to respond to this Call with proposals or suggestions of projects, which they feel the Foundation should attempt to launch. Guidelines for proposal submissions can be viewed on the Institute’s website through the AEFNS link on the ICANS home page at www.icans.ns.ca. Deadlines for submission are twice yearly: October 31st and April 30th. If you require additional information, please contact Wenda Bennett at 425-3291 or by email at email@example.com. ACCOUNTING STANDARDS BOARD ROUNDTABLE – JUNE 16 The Accounting Standards Board (AcSB) is following up its September 2004 meeting in Halifax with another roundtable discussion at the World Trade and Convention Centre, June 16, 9 to 11 am. The aim: to obtain feedback on its proposed strategies. As AcSB Chair Paul Cherry commented in the CICA publication, FYI (March 2005): “The proposals will steer the direction of Canadian GAAP, certainly for the next five years, but the implications will likely endure well beyond.” In short, this is an opportunity which may not happen again for some time. Meeting details and on-line registration can be found at http://www.acsbcanada.org/index.cfm/ci_id/21832/la_id/1.htm (click on “meetings”). Pre-registration is preferred, but ’walk-ins’ are welcome. COMING TO HALIFAX - THE ACCOUNTING STANDARDS OVERSIGHT COUNCIL As reported in our May 2005 E-SCAN, The Accounting Standards Oversight Council (AcSOC) – the oversight body for the Accounting Standards Board – has selected Halifax as the location for one of its meetings this year. This meeting will be held June 16 – 17 at the World Trade and Convention Centre, following the AcSB’s round-table discussions. As per tradition, the AcSOC welcomes all interested individuals to observe the proceedings. The meeting agenda is posted on AcSOC’s website (www.acsoc.ca), which also contains pertinent information about AcSOC, including its terms of reference, membership, report on previous meetings, etc. Likely agenda items include: lessons to be drawn from Nortel’s accounting problems; income trust reporting issues; issues of concern to AcSOC members; and, public sector reporting issues; as well as the AcSB’s proposed change in strategic direction. Observer registration forms and guidelines are available on the AcSOC website at http://www.acsoc.ca/index.cfm/ci_id/13720/la_id/1.htm. AcSB’s STRATEGIC PLAN - COMMENTS ANYONE? If you have an interest in the future direction of accounting standards in Canada, the AcSB wants to hear from you! To review the Board’s draft Strategic Plan, visit www.acsbcanada.org and then submit your written comments on the proposed strategies to AcSB’s Information Officer at: 277 Wellington St., West, Toronto, ON, M5V 3H2 or fax them to (416) 204-3412. NOTE: This comment period runs until July 31, 2005. ANOTHER SUCCESS FOR FACE-TO-FACE Chalk up another successful conference for ProgressCorp and another successful sponsorship for ICANS, in partnership with NBICA and CICA. We’re talking about the 7th Annual Face-to-Face Conference — held May 29 - 31, 2005 at the Pines Resort in Digby, NS — where a select crowd of key business leaders from across the region participated in various leadership sessions, interactive panel discussions and debates on topics aimed at providing advice on how to grow a profitable company. Keynote speakers included Denis Ryan, Chair and Founder, Nova Scotia Crystal and Brookes Diamond, Founder and President, Brookes Diamond Productions. Attendees also heard from Yvonne Camus, a competitor in the international Eco-Challenge race; Jeff Moore, President, Just Us! Coffee Roasters; John Davis, President, Eco-Nova Productions Ltd.; Stephen Pike, Partner, Safari Eatertainment (Jungle Jim’s Restaurant); Jonathan Norwood, Partner, Rudderham Norwood Ellison; Tanya Shaw Weeks, President, Unique Solutions; Jim Meek, Writer/Columnist; Michael Duck, President, A. C. Dispensing Equipment Inc.; Mark Critch, Writer and regular guest on This Hour Has 22 Minutes; Frank O’Dea, Blue Ocean Strategy; and, Harry and Robert Steele from Newfoundland Capital Corporation. Of course, delegates also managed to squeeze in some much anticipated golf time — a key feature that really adds to the conference’s great networking atmosphere. And finally, we hear next year’s Face-to-Face is heading for New Brunswick. So, mark your calendar now, because it’s never too early to get ready for Face-to-Face! HERE AND THERE WITH MEMBERS Jamie Baillie, CA, was recently named President and CEO of Credit Union Atlantic. George Bishop, FCA, President and Director of Scotia Investments Ltd., was recently appointed to the position of Board Chair with Heritage Gas. Isaac Hashem, CA, was recently appointed to the position of Vice President & Chief Financial Officer with Southwest Properties Ltd. in Halifax, NS. Michael Marshall, CA, previously with City Mazda, is now employed with Fraser & Howatt in Halifax, NS. Neil Morley, CA, previously with the Nova Scotia Department of Finance, is now the Controller for Clarke Inc. in Halifax, NS. Anne Nickerson, CA, previously with the South West Nova District Health Authority, is now the Plant Controller for Michelin Tires North America (Canada) Inc. in Waterville, NS. Nikki Robar, CA, previously with Raymond Wilde Chartered Accountants, is now a Manager for PricewaterhouseCoopers LLP in Halifax, NS. Lisa Taylor, CA, previously with KPMG LLP in Halifax, NS, is now a Senior Manager with PricewaterhouseCoopers, in St. Michael, Barbados. RESIGNATIONS The following individuals have resigned their memberships effective April 30, 2005. (Note: most members who resign are non-residents and are members of another Provincial Institute.): Darren B. Budd, CA REMINDER NOTICE Jean-Louise Coonan, CA June 15, 2005 is the deadline to submit resignations and IN MEMORIAM requests for special fee We regret to inform you that the following members have passed away: considerations for retired or Senator A. I. Barrow, FCA early retired status, waivers Camille Gallant, CA and deferrals. Please contact Soula Keramaris at (902) 425-3291 or at firstname.lastname@example.org. Thank you! June 2005, Page 6 IN THE NEWS As highly respected business leaders, CAs are often sought for their opinions on a variety of issues. To this end, the following members graciously volunteered their time and expertise in June 2005 responding to recent media requests: Jim Horwich, CA, Officer/Director, Dockrill Horwich Rossiter, Halifax, NS. Page 7 Susan McIsaac, CA, sj mcisaac, Chartered Accountant, Amherst, NS. CAreer OPPORTUNITIES ON THE WEB Did you know that career postings are added on a weekly basis to the Institute’s web site (www.icans.ns.ca)? Log on for details about the following: Senior Staff Accountant — New Glasgow, NS Chartered Accountant/UFE Finalist — New Glasgow, NS Accountant — Halifax, NS VP, Corporate Services — Annapolis Valley, NS Corporate Policies Manager & Corporate Policies Analyst — Halifax, NS Part-Time Controller — Nova Scotia Chartered Accountants — Western Canada Chartered Accountants — Ottawa, ON Manager, Internal Audit (Risk Management) — Toronto, ON Leader—Litigation Support and Business Valuations — Vancouver, BC Internal Auditor — (see web posting to contact recruiter re: location) E-SCAN is a monthly publication of the Note: Other career opportunities, together with valuable information and guidance on career Institute of Chartered counseling, etc., can be found at “CA Source,” on the CICA web site (www.cica.ca). Accountants of Nova Scotia, distributed to REMINDERS—IMPORTANT UPCOMING DATES members by e-mail. PD Spring Seminars May 26 - June 14, 2005 Copies of E-SCAN are AcSB Roundtable, WTCC, Halifax June 16, 2005 available on the AcSOC Meeting, WTCC, Halifax Institute’s website at June 16 - 17, 2005 www.icans.ns.ca UFE September 13 - 15, 2005 Institute of Chartered Atlantic Provinces Tax Seminar, Saint Mary’s University, Halifax Accountants of Nova October 21 - 22, 2005 Scotia (ICANS) Practitioners Forum Glengarry Inn, Truro October 28, 2005 1791 Barrington Street Suite 1101 IFA Conference, Toronto, ON Halifax, Nova Scotia November 7 - 8, 2005 B3J 3L1 CFP Examination Tel: (902) 425-3291 Fax: (902) 423-4505 November 19, 2005 email@example.com PD Week www.icans.ns.ca November 21- 25, 2005 Members’ Luncheon, Casino Nova Scotia Hotel, Halifax Executive Director Lauchie McKenzie, FCA December 16, 2005 firstname.lastname@example.org Convocation 2006 February 11, 2006 Director of Professional Standards Wenda Bennett, CA email@example.com Director of Professional Development CONFERENCE Kathie Slaunwhite CONNECTION firstname.lastname@example.org Membership Registrar The IFA Alliance is holding Soula Keramaris its 7th Annual email@example.com Investigative and Forensic Administrative Assistant Accounting Conference Cindy Mombourquette in Toronto, ON, firstname.lastname@example.org November 7 - 8, 2005. Communication Consultant Joy Barkhouse For details, visit: email@example.com http://www.cica.ca/ index.cfm/ci_id/1142/ la_id/1.htm.