Autumn 2010 Inside this issue.pdf by lovemacromastia

VIEWS: 782 PAGES: 44

									        O n t a r i o
        o f
        A c c o u n t a n t s
        C h a r t e r e d

                                Inside this issue:
                                What’s new with the new CA Act:
                                the Case of the Discipline Dodger
                                Celebrating Business Excellence
                                in Ontario
        o f

                                the Partnership Prenup:
                                Responsibly managing Dissolutions
        I n s t i t u t e

                                Aligning new CICA Handbook with Rules
                                of Professional Conduct
                                FCA Elections & ICAO Award of
                                Distinction: Call for nominations

                                        Autumn 2010
        T h e
     The key to attracting and retaining
     top financial talent is here.

                                Download your FREE 2011 Salary Guide or use our
                                interactive salary calculator at

                                Toronto • North York • Markham • Ottawa
                                Scarborough • Vaughan • Brampton
                                Mississauga • Burlington • Kitchener-Waterloo

© 2010 Robert Half. 0910-9009
A u t u m n                    2 0 1 0
CheckMark is published four              A message from the Chair                                                         3
times a year by the Institute of
                                         Greg Gallant, FCA, discusses self-regulation; the impact of globalization and
Chartered Accountants of Ontario
                                         changing demographics on the CA profession; exploring new entry routes to the
for its over 33,000 members and
                                         CA designation; national ad campaign; and more.
5,000 students.

Publisher                                Ontario Business Achievement Awards: Celebrating Excellence 6
Rod Barr                         What’s new with the new CA Act, Part 2:
                                         the Case of the Discipline Dodger                                                7
Sheila Clenman                           This is the second in a series of articles to help members become better                      informed about the new Chartered Accountants Act, 2010.

Contributors                             member Services news                                                             9
Jennifer Andres
Cate Freeman                             the Partnership ‘Prenup’: Responsibly managing Dissolutions 13
                                         Guest writers Malcolm D’Souza and Kaitlin D’Silva offer tips on how to create
Advertising                              partnership agreements so as to prevent future problems.
Melanie Mohan
                                         Aligning new CICA Handbook with
Graphic Design                           Rules of Professional Conduct                                                   15
Thanh Lam                                An update of the reviews underway at a national level, including an examination                          of the impact of the ‘new’ CICA Handbook on Independence and other Rules.

Undeliverables to be returned to
the following address:
                                         ChAracters                                                                      16
                                         Meet Donald MacKay, CA, golf course developer and guide dog trainer.
The Institute of
Chartered Accountants of Ontario         FCA Elections and ICAO Awards: move to a two-Year Cycle                         19
69 Bloor Street East
Toronto, Ontario M4W 1B3                 2011 FCA Elections: Call for nominations                                        19
Tel:        416-962-1841
Toll Free: 1-800-387-0735                Professional Development news                                                   23
Fax:        416-962-8900
                                         Second term of Small Practices Advisory Committee Begins                        25
E-mail addresses are:                    Key items discussed at a recent meeting include public accounting licensing
first initial and last name (lower       and practice inspection.
case) followed by
                                         ICAO Award of Distinction: Call for nominations                                 26
Canada Post Publications Mail
Agreement # 40051537                     Christine E. Sinclair Community Leadership Award                                26
                                         Around the Districts                                                            28
                                         thank you to 2010 Free CA tax Clinic Volunteers                                 30
                                         Career Information news                                                         32
                                         Includes the launch of the Rule the Tube competition, the new Chartered for
                                         Finance conference, and more.

                                         2010 new Life members                                                           36

        Printed on recycled,             Disciplinary notices                                                            38
        chlorine-free and
        acid-free paper.
Looking for something
less permanent?
   The Mason Group offers Contract Services

The Mason Group’s Contract Division specializes in the recruitment and
placement of finance and accounting professionals on a project or interim
basis. From Financial Analyst to CFO, short-term leaves to long-term
projects, our tenured Contract Division can help you find the talent you
need to meet your deadlines and complete your strategic assignments.

If you’re looking for flexibility, give The Mason Group a call.
Toronto 416-733-9393 Mississauga 905-804-1100
	 	 	 A	Message
	 	 	 	 	 from	the	Chair

                             Gregory M. Gallant, FCA

Let me begin this issue of CheckMark by dusting off a term        profession need to confront and surmount in just this way.
that we tend to use when talking about the CA profession,         They are ‘globalization’ and ‘demographics’.
but one whose meaning we rarely pause to think about.
That term is ‘self-regulating’. It’s an old principle, and one    These are two driving forces that will change the face of the
which still works to everybody’s benefit: yours, mine and the     CA profession in this country in ways we need to harness
society we serve.                                                 and control.

But what does it really mean? To me, a profession is              Globalized commerce, globalized accounting
self-regulating when it’s simply the best way, out of all
the alternatives, to govern the use of its expertise in           Let’s start with ‘globalization’. It’s an overused term, to be
the marketplace. The chief alternative, of course, is for         sure, but one which has real meaning and impact for the
government to regulate us directly. But the case against          way the world works in transactional terms, in an age when
that is that it would be very difficult (and hugely costly) for   business and commerce cross borders and time zones at
government to replicate the expertise that’s required to          the push of a button. Rules and standards are becoming
understand and manage a profession like ours.                     globalized, as is risk. Markets are becoming borderless
                                                                  and, thus, globalized too.
So the consensus is that we do it ourselves, with simply a
degree of legislative oversight. But this also means that self-   And we in the accounting profession are in the thick of it.
regulation is a privilege. It is granted to us, and it can be
taken away – so we, as a profession, need to demonstrate          As a result of this ever-changing, global professional
at all times that we can govern ourselves in the public           environment, we’re beginning to see the emergence of
interest. And after more than 130 years in the business of        global accounting designations. The two biggest ones
self-regulating the CA profession in Ontario, it’s so far, so     today, of course, are CA and CPA. The CA designation is
good.                                                             strong chiefly among the Commonwealth countries. The
                                                                  CPA designation is strong in the U.S., Japan, Hong Kong
Change – or be changed                                            and Australia.

But self-regulation also means something else. I think that       Things may stay this way for a long time to come. Or they
self-regulation carries with it the obligation to evolve as       could change tomorrow. There have been a lot of recent
time goes on: to change our profession to meet anticipated        discussions by the national and provincial leadership
developments. It’s not just those things that happen that         of our profession as to how to get ready, should a major
would otherwise force us to react, after the fact. After          realignment occur in the face of this changing environment.
all, if we can’t do these things ourselves, it may fall to
governments to do it for us. And I don’t think anyone would       What those discussions boil down to is this: Should either
wish for that to happen.                                          the CA or CPA designation become the globally dominant
                                                                  one, we need to ensure that Canada’s CAs are aligned with
This brings me to two terms that best capture the kinds           it. That’s because in our business, the alternative to being
of changes happening all around us today, that we as a            globalized is to be marginalized.
                                                                                                                 (Please see page 4)

                                                                                            CheckMark • Autumn 2010                3
(From page 3)
Niche players – or ‘backwater-dwellers’?                            For better or for worse, these and other recent developments
                                                                    have made the issue of internationally trained professionals
A profession like ours simply cannot survive on the                 as much a political question as it is a moral imperative.
sidelines. If we don’t have the reach, the scale and the
influence at the international councils of accounting, we will      It’s pretty clear that how we, as a profession, handle these
rapidly become voiceless and irrelevant. This is especially         forces will largely determine whether we retain our pre-
so as it relates to the evolution of global accounting              eminence as Canada’s leading accounting designation. At
standards, which is one of the great issues in international        the same time, it will decide whether we can continue to
finance today. For these reasons, steps are being taken             serve the marketplace for top-quality, strategic finance and
to explore the ways to also use, in addition to our CA              accounting expertise, just when demand for CA services is
designation, a Canadian CPA designation.                            on the rise.

Here we have an historical basis from which to proceed,             When it comes to ensuring we have the numbers we need to
if necessary: Members may know that CPAs actually                   maintain our position as leaders in our field, we’ve actually
merged with Ontario CAs back in 1962. What may be less              been at this for some time. That effort began in 2004 with
well known is that the Canadian CA profession retains a             the development of a document called Strategic Crossroads
controlling interest in the CPA designation in this country –       for the CA Profession, which tabled the issue and started
a legal stake we are today working to consolidate in                the debate across the profession nationally. A highlight
anticipation of possible future developments.                       was the discussion around the so-called ‘bottleneck’ – the
                                                                    restricted number of training positions for new CAs owing
We are very early into this discussion, and we appreciate all       to the traditional approach of training exclusively in public
the sensitivities that surround it. The Institute and I commit to   accounting offices.
keeping you informed at every step.
                                                                    Widening the funnel
Reflecting the world in which we do business
                                                                    As a result, in 2007, we expanded CA experience
The next term is ‘demographics’. The demographic trends             requirements, enabling corporations and governments to
facing the CA profession today – and indeed, Canadian               train CA students, while enabling CA firms to train outside
society as a whole – are twofold: The first is an aging             the audit stream. And it’s working: These expanded training
population, and the fact that our membership is retiring at         options are starting to ease a bottleneck in the CA training
an unprecedented rate. The second is immigration. In the            system, while at the same time making the attainment of the
wake of our own declining workforce, we need to make sure           CA designation both more attractive and more accessible to
we are attracting and integrating skilled immigrants.               business students.

On the issue of accommodating skilled newcomers to                  Now, the task is to continue that evolution by providing a range
Canada, events are also being driven by a number of                 of supplementary routes to CA accreditation that will appeal
developments right here in Ontario: The recently-passed             to the best and brightest business professionals from across
new CA Act, for example, contains provisions restricting the        Canada and around the world.
use of foreign accounting designations such as ACCA and
CIMA, to avoid marketplace confusion over which bodies              It’s simply a fact that the available talent pool for CAs
are regulated in Ontario and which are not. These two U.K.          is much larger than that accessible to us through new
designations, in particular, highlight the problem, sounding        business graduates alone. We need to attract ‘the best and
as they do like ‘CA’ and ‘CMA’, respectively. Yet this provision    brightest’ from these other sources of talent. These should,
was seen, at least by the media, as somehow ‘protectionist’ –       in our view, include new graduates with non-business
an effort to keep out professional accountants from other           degrees, or career-changers, or perhaps academics
countries. This is a reminder of the sensitivity of the issue,      or other professional accountants with domestic or
and the need to be seen to address it.                              international credentials.

It bears noting too that these U.K.-based bodies have               We need to consider too that, historically, our profession has
established partnerships with other Canadian accounting             had only three ‘pathways’ available to meet the needs and
organizations, such as the CGAs and CMAs. While reflective          aspirations of non-traditional applicants:
of the skilled immigrants’ issue, these arrangements
also hint at a future trend in which Mutual Recognition             •   Graduation from university with all, or substantially
Agreements or other forms of partnerships may one day                   all, of the required credits, followed by employment
give rise to truly global accounting designations of the kinds          obtained in a CA Training Office;
discussed above.                                                    •   Mutual Recognition Agreements, or ‘MRAs’, that allow
                                                                        the members of 13 international accounting bodies to
Similarly, the Fair Access to Regulated Professions Act,                become CAs by writing the CA Reciprocity Exam; or
passed by the province in 2006, created a Fairness                  •   In some provinces, university-based programs that offer
Commission that constantly monitors professions like ours               the courses required for admission to their respective
for evidence that we are not exclusionary when it comes to              professional programs.
people with international credentials.

4               CheckMark • Autumn 2010
These are attractive, alternative routes to the CA             So there you have a new perspective on the forces that are
designation, to be sure. But all of the factors I have         shaping not only the global rules of business, but also the
previously described demonstrate that they are no longer       global environment for the accounting profession. Where all
enough; not in an era of declining membership, an aging        of this will ultimately lead us is still far from clear. The one
population and the growing demands of governments              thing we know we cannot do is to wait until the winds simply
and others for greater access to credentialed professions      blow us toward our future as a profession.
for internationally-trained individuals. And not when the
admission numbers from these alternative pathways are          No, this is a boat we need to steer, and a route we need to
fewer than 100 annually through those MRAs, and fewer          chart, ourselves.
than 200 yearly through the university-based programs.
                                                               National brand advertising
These numbers are simply not enough for us to ensure a
sustainable profession to meet the rising demand for what      Having said all that, it’s a noisy world out there, and part of
we do, at a time of growing regulatory complexity and          our success will depend on telling our story in a crowded
declining demographics. Our initial discussions to explore     marketplace of ideas. So let me close with an update on the
what additional pathways there could be have so far landed     CA profession’s national branding efforts. An exciting new
on four distinct new entry routes. In no particular order,     phase of the national Decisions Matter ad campaign was
these are:                                                     launched in October, and it is very different from what we’ve
                                                               done in the past. It is more assertive in establishing CAs as
•   A CA Core Program for those who lack the essential         the leading business professionals and, in its originality, has
    knowledge or skills – for example, recent graduates        been designed to break through the media clutter.
    with non-business university degrees or career-
    changers with little relevant experience. After            These new ads have begun rolling out on TV, radio, and
    successful completion, applicants would be admitted        outdoor billboard placements. Our broadcast presence is
    to a regional Professional Education Program, after        distinguished by the voice talents of the iconic Canadian
    which they would follow the traditional pathway to the     actor Gordon Pinsent. I’d urge you to watch for this new
    designation;                                               phase of the Decisions Matter campaign – and certainly let
•   A Professional Program for applicants with most or         us know what you think about it.
    all of the core academic requirements and business
    experience – for example, those with relevant business     So all in all, there is some measurable progress to report on
    degrees and experience, and probably working in mid-       a number of fronts. And yes, there are some big nuts still to
    level financial management positions;                      crack on others.
•   A UFE Challenge route, which is only being put forward
    for discussion as a possible pathway for those who feel    But there’s one thing I’ve come to learn, on the business of
    strongly that they are ready for the UFE, and require      influencing decisions and moving our profession’s priorities
    only a chance to demonstrate their competencies.           along. Much more often than not, we end up where we need
    (Our recognition negotiations with Indian Chartered        to be. That’s because the CA profession, for over more than
    Accountants are headed in basically this direction); and   a century, has earned the trust and respect of decision-
•   An Examination of Experience – a rigorous                  makers in this province, across Canada, and indeed around
    assessment of significant business experience, limited     the world.
    to senior finance and accounting professionals with
    an accounting credential. The intent would be to           Just as with the principle of self-regulation that I began
    provide a reasonable and sufficient replacement for the    with here, this is a trust we need to safeguard at all costs,
    UFE, because it would be based on actual business          because it makes things happen. In these uncertain times,
    experience, rather than case studies in an exam            there’s nothing more priceless. And it’s up to all of us, as
    environment.                                               Chartered Accountants, to keep that badge of trust shiny.

This latter proposal is based on a process known as ‘Prior     If you would like to comment on these or any other matters,
Learning Assessment’, which provides a methodology to          please contact me at the Institute. My e-mail is ggallant@
assess experience as a surrogate for education. It has been
in use in England and Wales for more than two years. Pass
rates are under 50 per cent, and flow-through is about 65
per cent over the two attempts permitted under the system.

I want to assure members that in any investigation into
differing means of credentials recognition such as these
we will be guided by the absolute imperative of sustaining
the rigour, standards and prestige that have made our
profession what it is.There will be no short cuts and no

                                                                                         CheckMark • Autumn 2010               5
Ontario Business                                                             This year’s dinner was hosted by Shaun Majumder, the
                                                                             Gemini award-winning actor/comedian and star of This Hour
                                                                             has 22 Minutes.
Achievement Awards:                                                          The evening was off to a great start with the CA-VIP
Celebrating Excellence                                                       reception. The reception provides a unique forum for CAs
                                                                             to mingle with other business leaders and award winners,
                                                                             along with senior politicians and their staff. It offers an
                                                                             exceptional opportunity for the Institute and the profession
                                                                             to leave a lasting impact with key decision-makers on policy
                                                                             topics of importance to Chartered Accountants.

                                                                             Institute Chair Greg Gallant had the honour of presenting
                                                                             the Corporate Governance Award to this year’s winner –
                                                                             Oliver and Bonancini Restaurants.

                                                                             In all, a dozen companies from around the province were
                                                                             named winners of the Ontario Business Achievement
                                                                             Awards and the Ontario Global Traders Awards.

Seen at the CA-VIP Reception are, from left: Institute Chair Greg Gallant,
FCA; Len Crispino, CEO of the Ontario Chamber of Commerce; and Awards
Host Shaun Majumder.

On September 20, achievement and excellence in
business were once again recognized at the Ontario
Chamber of Commerce’s (OCC) 28th annual Outstanding
Business Achievement Awards. The Institute of Chartered
Accountants of Ontario shares the OCC’s vision that
excellence in business should be acknowledged and
celebrated, and is therefore proud to continue as the
Platinum sponsor of this event.

Our partnership with the Ontario Chamber also reflects the                   Greg Gallant (right) is seen presenting the 2010 CA Award for Corporate
                                                                             Governance to Peter Oliver, Partner of Oliver & Bonacini Restaurants, while
extent of “cross-pollination” between the two organizations:
                                                                             Shaun Majumder (left) looks on.
Many CAs are leading Chamber members, and vice-versa.
Together, the Institute and Chamber constitute a strong and
effective voice for businesses of every size in Ontario.

                                                                     imagine if you could clone yourself...
    toronto north York MiSSiSSauga

      416.362.GREY (4739)

               Strategic Sourcing of accounting & finance ProfeSSionalS
    Morton Grey Summer 2007.indd 1                                                                                                     7/10/07 2:29:05 PM

6              CheckMark • Autumn 2010
What's new with the new                                           department. Also, if you cannot gain access to your client’s
                                                                  files from the former CA, the Institute may be able to help,
                                                                  through its custodianship powers – as discussed in the last
CA Act, Part 2: the Case of                                       issue of CheckMark.

the Discipline Dodger                                                                                                    – Advisor

This is the second in a series of articles to help members
become better informed about the provisions of the new              For members Struggling or in trouble
Chartered Accountants Act, 2010. This issue’s article
focuses on CAs in trouble – both from the perspective of            There are resources to help you. Check the Member
the struggling CA and the CA who has taken on the former’s          Assistance section under the CA tab at
clients.                                                            for information on confidential advisory and counselling
                                                                    services that are available.
Dear Advisor:
                                                                    If you’re a practitioner, there are additional resources
I’m a sole practitioner. I’m having family troubles and haven’t     available at Practice Matters under the CA Firms tab.
been focused on my practice for a long time. Now I’m                These include the Emergency Assistance Program that
in trouble. A client is about to file a complaint. Can I just       can provide you short-term or longer-term assistance
resign to avoid the discipline process – and stay out of the        and the Practice Listing Service, if it’s time to reposition
Disciplinary Notices in CheckMark?                                  your career.

                                         – Troubled in Toronto      For more information, call a Member and Practice
                                                                    Advisor at 416-962-1841, ext. 456 or 1-800-387-0735,
Dear Troubled:                                                      ext. 456.

Resigning won’t prevent you from possibly being
disciplined. You may be surprised to find out that the
Chartered Accountants Act, 2010 gives the Institute
authority over former CAs. In fact, pursuant to the new CA        Donald Wray Honoured
Act, the Institute has up to six years after someone resigns
or otherwise stops being a member to start an investigation
for acts committed while a member. The former member
is required to provide any information and documents,
including those kept electronically, that an investigator
thinks is relevant. If he or she fails to do so, they can be
charged with an offence and, if found guilty by the courts,
fined up to $25,000. It's an equally serious offence to
destroy, hide or alter any documents.

These provisions can be found in Sections 19, 49 and 50 of
the Chartered Accountants Act, 2010. There is a link to the
Act on the Institute's website at

                                                     – Advisor

Dear Advisor:
                                                                  Donald G. (Don) Wray, FCA, (left) receives his official ICAO
I’ve just taken on the client of a former CA who left             Award of Outstanding Merit portrait from Institute President
everything in a mess. I’m really frustrated and this does not     and CEO Rod Barr, FCA, at an informal presentation held
seem fair! Is there anything that can make this easier on         recently at the Institute.
                                                                  This award recognizes conspicuous and sustained service
                                             – Angry in Acton     to or on behalf of the CA profession, including service to the
                                                                  community, and is the highest honour that the Institute can
Dear Angry:                                                       bestow.

While the Institute can’t make the mess go away, it can           Sheila Fraser, FCA, and James L. Goodfellow, FCA, were
investigate and discipline the former CA, as set out above.       also elected as recipients of the 2009 ICAO Award of
I would encourage you and your client to consider making          Outstanding Merit.
a complaint through the Institute’s Standards Enforcement

                                                                                            CheckMark • Autumn 2010                7
     Group home and auto insurance

     as simple as
                           for members of The Institute of
                           Chartered Accountants of Ontario

                            Insurance doesn’t need to be complicated. As a member of The Institute of
                            Chartered Accountants of Ontario, you deserve – and receive – special care
                            when you deal with TD Insurance Meloche Monnex.

                            First, you enjoy savings through preferred group rates.

                            Second, you benefit from great coverage and you get the flexibility to choose
                            the level of protection that suits your needs.1

                            Third, you receive outstanding service.

                            At TD Insurance Meloche Monnex our goal is to make insurance easy for you
                            to understand, so you can choose your coverage with confidence. After all,
                            we’ve been doing it for 60 years!

                                                                                Request a quote
                                                                                  and you could

                                                           1 866 269 1371          Monday to Friday, 8 a.m. to 8 p.m.


              TD Insurance Meloche Monnex is the trade name of SECURITY NATIONAL INSURANCE COMPANY which also underwrites the home and
              auto insurance program. The program is distributed by Meloche Monnex Insurance and Financial Services Inc. in Quebec and by
              Meloche Monnex Financial Services Inc. in the rest of Canada.
            Due to provincial legislation, our auto insurance program is not offered in British Columbia, Manitoba or Saskatchewan.
            Certain conditions and restrictions may apply.
          * No purchase required. Contest ends on January 14, 2011. Total value of each prize is $30,000 which includes the Honda Insight EX (excluding applicable taxes, preparation
            and transportation fees) and a $3,000 gas voucher. Odds of winning depend on the number of eligible entries received. Skill-testing question required. Contest organized
            jointly with Primmum Insurance Company and open to members, employees and other eligible people of all employer and professional and alumni groups who have an
            agreement with and are entitled to group rates from the organizers. Complete contest rules and eligibility information available at
            Actual prize may differ from picture shown.
            Honda is a trade-mark of Honda Canada Inc., which is not a participant in or a sponsor of this promotion.
            Meloche Monnex is a trade-mark of Meloche Monnex Inc., used under license.
            TD Insurance is a trade-mark of The Toronto-Dominion Bank, used under license.
	 	 	 Member	Services
                           Ingrid Enhagen, CA
                           Director of Member Services

member Services news                                            to assist the AcSB in identifying issues in Canada related
                                                                to this project and in responding to IASB invitations to
                                                                comment. The advisory groups are:
Changing accounting and assurance                               •    IFRS Discussion Group
                                                                •    Joint AcSB and PSAB Task Force to address Not-for-
standards                                                            Profit issues
                                                                •    Private Enterprises Advisory Committee
Guidance on application of new standards                        •    Academic Advisory Council
                                                                •    User Advisory Council
In addition to courses offered through the Institute (see the   •    Employee Benefits Advisory Group (IASB project)
2010-11 Fall/Winter PD Catalogue at and         •    Insurance Accounting Task Force (IASB project)
the CICA, there are numerous other resources available to       •    Leases Advisory Group (IASB project)
help provide guidance on the new standards. These include
articles, frequently asked questions, archived free webinars    For those of you who want to contribute in some manner to
and podcasts, and conferences. These additional resources       standard setting, more information on each of these groups,
can be found in the Canadian Standards in Transition area       including how to provide input to them, can be found at
of the CICA's website at, as well as Look for the Advisory Groups item in
on the following websites of the respective boards issuing      the right column.
the standards:
•    Accounting Standards Board (AcSB)                          Proposed Guideline on dating of the review engagement
     at                                      report
•    Public Sector Accounting Board (PSAB)
     at                                        A Guideline has been proposed for review engagements
•    Auditing and Assurance Standards Board (AASB)              to provide guidance on how to apply the concept of
     at                                             ‘substantial completion’ to the dating of the review
•    International Accounting Standards Board (IASB) and        engagement report. For more information, refer to the
     IFRS Foundation at                            October 2010 issue of Practice Advice. This newsletter and
                                                                further updates can be found on the AASB's website at
Providing input on accounting issues                  

As you immerse yourself in learning the new standards,          Note also that there has been a change in terminology
you are likely to encounter issues which are common to          between Part II of CICA Handbook-Assurance (old version)
others. The AcSB has set up several advisory groups to          and Part I (new 2010 version). The wording in the review
receive input on various aspects of accounting standards.       engagement report is now ‘inquiry’ instead of ‘enquiry’.
A number of these are set up in relation to an IASB project
                                                                                                            (Please see page 10)

                                                                                         CheckMark • Autumn 2010              9
(From page 9)
Brochures for educating clients on new standards                                 Please be aware that anyone calling is not acting on behalf
                                                                                 of the Institute, nor on behalf of either Manulife Financial or
     Understanding Reports On                     The CICA has added a new       Sun Life Financial (our member and firm plan underwriters),
     Financial Statements                         brochure, Understanding        and has not been provided with any listings of individual
                                                  Reports on Financial           policyholders by either Manulife or Sun Life, or by the
                                                  Statements, to the Client      Institute itself. These companies deal with members of
                                                  Development Brochure           this Institute only through clearly co-branded mailings and
                                                  Series available exclusively   websites, or in the case of the firms’ plan, through the plan’s
                                                  to CAs. This new publication   agent, Brian Clewes. Telephone contact is made only in
                                                  explains the three levels of   response to a member’s enquiry.
                                                  service CAs provide with
                                                  respect to communications      If you should receive such a solicitation, please forward
                                                  on financial statements –      the individual’s contact information to Customer Service
                                                  audit, review and              at As the Institute learns of these
                                                  compilation.                   incidents, the perpetrators are warned that the directory
                                                                                 information available on our website (member, firm,
Other brochures in the series cover such topics as: New                          and public accounting licensees) is not to be used for
Canadian Auditing Standards (CAS), New Accounting                                commercial or solicitation purposes, and any misuse or
Standards for Private Enterprises, International Financial                       violation of this information may result in the Institute taking
Reporting Standards (IFRS), and Tax Planning. All of these                       action against the user.
publications can be found on the CICA’s website at in the Client development brochure series
section under Service & Products.
                                                                                 CA Select insurance plans
                                                                                 Catastrophic Health Insurance has recently been added to
Greenhouse gas (GHG) emissions reporting – are you
                                                                                 the CA Select family of insurance coverages. This innovative
                                                                                 insurance product acts as an emergency back-up fund
                                                                                 that kicks in after you've satisfied certain deductibles.
In less than nine months, the Ontario Ministry of the
                                                                                 Many illnesses and injuries can mean your health costs rise
Environment’s GHG Reporting Regulation 452/09 will require
                                                                                 exponentially and can quickly deplete your savings. With
reporting of 2010 emissions. This regulation provides
                                                                                 the CA Select Catastrophic Health Plan (CAT Plan), you pay
the foundation for Ontario to implement a cap-and-trade
                                                                                 your expenses from your current health plan or out of pocket
program to help achieve its climate change goals. This will
                                                                                 and, once your expenses exceed pre-set limits, the CAT
impact entities that have facilities involved in various forms
                                                                                 plan takes over. It covers up to 100 per cent of excess costs
of production and manufacturing where greenhouse gases
                                                                                 for prescription drugs, chiropractor and physiotherapist
are being generated.
                                                                                 services, and up to $100,000 of homecare and nursing,
                                                                                 durable medical equipment and prosthetic appliances. For
Facilities that emit 25,000 tonnes of carbon dioxide
                                                                                 more details, visit
equivalent or more will be required to prepare an emissions
report for calendar years beginning on January 1, 2010.
These must then be submitted on or before June 1, 2011.                          new affinity programs
For 2011 emissions, the report to be submitted on or before
June 1, 2012 must be accompanied by a verification                               A number of new special member offers have been
statement conducted by an accredited verification body.                          negotiated and added to the CA Member Savings Program,
For more details, refer to the regulation, which can be                          •    Discounted Brooks Brothers corporate membership
found at:                               cards;
regs_090452_e.htm#BK13.                                                          •    Preferred pricing at a number of hotels in the Vancouver
                                                                                      and Victoria area, as well as the Nita Lake Lodge in
                                                                                      Whistler, B.C. and the Cable Cove Inn in Tofino, B.C.;
mEmBER BEnEFItS                                                                  •    A new offer with Bose for a free Wave Premium Backlit
                                                                                      remote with the purchase of the Wave music system;
members receiving calls about life                                               •
                                                                                      For those looking ahead to next summer, group rate
insurance                                                                             prices are available at Canada's Wonderland.

The Institute has learned that a number of members have                          Note that offers are periodically updated for programs that
been telephone solicited by a salesperson(s) who implies                         are currently available. For more information on new and
he has knowledge about the member’s Institute-sponsored                          existing programs, go to Member Benefits under the CA
life insurance coverage. The salesperson attempts to extract                     tab on the Institute's website at Please
further information in order to sell other products to the                       remember to have your log-in information handy.

10              CheckMark • Autumn 2010
FREE CA tAX CLInICS                                              ADVISORY nEWS
Thank you to the 2010 Volunteers!
                                                                 managing a Public Practice Survey
We would like to take this opportunity to again thank all
                                                                 For participants of Part 2: Practice Management of the
of you who participated in making the 2010 Free CA Tax
                                                                 national Managing a Public Practice Survey (MAPP Survey),
Clinics Program such a great success. Record levels of
                                                                 the report will be released in November, 2010. Part 2
support were provided by volunteers and staff, and close to
                                                                 provided information on such areas as: types of services
11,800 returns were completed by over 1,600 volunteers!
                                                                 provided, areas where revenue is generated, an analysis of
                                                                 income, and billing practices.
For the second year, instead of placing an ad in the Globe
and Mail and various community papers, the Institute
                                                                 Part 3: Computerization, which provides information on
made an additional donation in the name of the Free CA
                                                                 how firms are using information technology, is targeted for
Tax Clinics volunteers to match the donation that we have
                                                                 distribution in November.
traditionally made to the various community agencies
involved in the program. The names of the volunteers who
gave us permission to do so have been posted in the Free
CA Tax Clinics section of the Serving the Public area of the
Institute's website. These names are also included in this
issue of CheckMark on pages 30 and 31. Thank you again!                             mark Your Calendar
See your name here again next year                                                  December 3, 2010
                                                                                    Uniform Final Examination (UFE)
Planning for the 2011 Free CA Tax Clinics Program has                               Results
already started. We need your help to continue to make
this program a success. Sign up today at                            December 10, 2010
taxclinics to enjoy the very satisfying experience of helping                       CARE Results
people in your community.
                                                                                    January 5, 2011
If you haven’t previously volunteered                                               Core Knowledge Examination (CKE)

Please note that volunteers come from all sectors – industry,                       January 8, 2011
public practice, government, academe and retirees. We                               CA$H Competition
just need three to four hours of your time to volunteer and                         11 a.m. - 6 p.m.
prepare tax returns for low-income Ontarians. The tax                               Institute Building, 69 Bloor St. East
returns are not complicated, and the Institute provides                             Contact: Jon French, ext. 278
resources (including TaxPrep® software donated by CCH)
and training. If you are a CA student, you need to meet                             January 14, 2011
the following criteria as pre-requisites to volunteering:                           Chartered for Finance Conference
successful completion of a university level tax course;                             10 a.m. - 6 p.m.
previous experience completing personal tax returns;                                Fairmont Royal York Hotel
registration in good standing with the Institute; and                               Contact: Cordie Jagt, ext. 264
attendance at a CA Tax Training session. You must also
have a qualified CA accompany you at a tax clinic.                                  January 21, 2011
                                                                                    CKE Results
Attention CA firms
                                                                                    February 14, 2011 - March 31, 2011
All firms, large and small, are encouraged to take part in the                      Free CA Tax Clinics
2011 Tax Clinics. You can be involved in a number of ways,                          Contact: Paula Duncan, ext. 236
•     Sponsor a clinic in your community                                            February 26, 2011
•     Encourage your CAs and CA students to volunteer                               Convocation Ceremony
•     Issue a challenge to other CA firms                                           Annual CA Dinner Dance
                                                                                    Contact: Patricia Fleming, ext. 228
For more details, see the invitation to participate that was
sent in the October 14, 2010 issue of e-Brief, found under                          Institute Tel:        416-962-1841
the CA tab at                                                       Toll Free:          1-800-387-0735

                                                                                          CheckMark • Autumn 2010           11
                                                                               Are you thinking
                                                                               about retiring,
                      We are a Toronto firm,
                    one of Canada’s Top 30.*                                   selling or merging
                      Our 70-person team
                   includes 30 CAs and other                                   your practice?
                         professionals.                                        Talk to us:
                                                                               Segal LLP
                                                                               Check out our website at
                                                                               or contact Michael Daren
                                                                               416 490 3453
                                                                               * Canada’s Accounting Top 30, The Bottom Line, April 2010

 Segal LLP Spring 2010.indd 1                                                                                                              09/04/10 10:25 AM

     Display Your Success with
     CA Membership Certificate Frames
     Proudly showcase your achievement by having your CA
     certificate framed in a high-quality frame, complete with an
     acid-free mat emblazoned with the Institute Coat of Arms.

     •	 All frames and mats are hand-made with the finest materials
     •	 Metal frames are manufactured from the highest quality        Vogue Black                                                            Briarwood
        aluminum alloy for maximum rigidity. Anodizing gives a
        long-lasting finish
     •	 Wood frames are constructed from solid wood mouldings
        and feature the unique quick load system
     •	 Frames and mats have been customized to fit the Institute
        of Chartered Accountants of Ontario CA certificates.
     •	 Documents can be framed in a matter of seconds
     •	 Three popular styles to choose from: Vogue Black,                                     Diplomat Plus
        Briarwood or Diplomat Plus.

                  For more information (and an order form), visit

 CA Certificate Frame.indd 1                                                                                                         4/16/08 11:01:06 AM

12           CheckMark • Autumn 2010
the Partnership ‘Prenup’: Responsibly managing
By Malcolm D'Souza, MBA, CA, and Kaitlin D’Silva               orchestrating this transition period.

The dissolution of a partnership brings with it a myriad       Recommendation #1: The partnership agreement must
of related risk management concerns, each of which             require the leaving partner to keep the files that he or she
is compounded by the emotions and circumstances                takes for the length of the time that is consistent with the
surrounding the separation. The ease with which this           retention policy followed by the departed firm. This is key
separation occurs depends on the preparation by involved       for all parties, because the firm or the leaving partner could
stakeholders at the outset of the partnership itself. Smart    be liable for any important documents that are inadvertently
preparation is the only means for smooth separation. Most      destroyed. It is not uncommon for a claim to arise as much
claim and insurance pitfalls resulting from partnership        as ten years after a service is provided. It is essential that
dissolutions can be avoided, so long as a firm is willing to   documents are retained and made available as evidence for
use diligence and foresight when drafting the partnership      the service in question to assist in resolving the claim.
agreement at the time the
partnership is created.                                                                    Insurance coverage issues

In an accounting firm, partners                                                          When a two or three-person
must have confidence that they                                                           partnership dissolves, either
will each consistently provide                                                           the leaving partner or remaining
the same quality of service.                                                             partners will typically take
This is facilitated by clear                                                             carriage of ‘prior acts coverage’
documentation of standards,                                                              for their former firm. This is
policies, and practices within                                                           done through the use of an
a firm. The rationale for clearly                                                        endorsement to their current
documented policies is                                                                   policy, which will provide
straightforward: failure to meet                                                         coverage for any claim for
standards of the profession can                                                          services prior to separation. This
lead to significant problems,                                                            is where avoidable problems
including lawsuits. The same                                                             can arise, because if a claim
principles should be applied                                                             falls under an innocent partner’s
to the development of the                                                                policy that is carrying ‘prior
partnership agreement.                                                                   acts coverage’ for the former
                                                               partnership, then any deductible becomes the responsibility
The easiest time to determine and document the roles and       of that innocent partner.
responsibilities of each partner is when the partnership
is created, and thereafter each time a new partner is          Recommendation #2: Proper foresight when drafting the
introduced. These responsibilities should include the          partnership agreement will ensure that partners agree to
ongoing obligations that a partner has to their former         pay their own deductibles for services they have provided
partner(s) and firm, and the ongoing cooperation that is       that lead to a claim, regardless of whether or not they still
expected between all parties. The failure to detail these      work with the firm.
obligations in writing can open the door to uncertainty and
needless disputes amongst former partners down the road,       Recommendation #3: Another option is the use of a
exposing one or more of the partners to unnecessary risk,      ‘discovery policy’ endorsement to cover the services
liability and expense, and the possible loss of insurance      provided by the former partnership. This protects both the
coverage.                                                      leaving partner(s) and their former partner(s) from being
                                                               negatively impacted by reported claims for incidents taking
This article provides tips in a number of areas regarding      place prior to separation. Ideally, the discovery policy would
precautionary measures that can be taken by firms in           not include a deductible so as to avoid dispute over who
the development of partnership agreements to prevent           is responsible for said deductible. Also this option may
or mitigate the impact of problems, as well as some best       have an additional cost, as it involves an extra policy being
practices once the separation has taken place.                 purchased for prior acts.

Client issues                                                  Claims and issues of cooperation

One longstanding reality is that a partner(s) who leaves       Dealing with a negligence claim on behalf of a client can
a firm will often take his or her clients and client files     become increasingly complicated when it involves services
(permanent and working paper files) with them. In terms of     provided by a former partner of the firm. Communication
managing risk, the existing firm should take great care when   and cooperation between former partners is the key to
                                                                                                             (Please see page 14)

                                                                                         CheckMark • Autumn 2010             13
(From page 13)
navigating said claims successfully. Errors and omissions           pre-trials and trials. In exchange, the former partners may
insurance is a ‘claims made policy’, meaning that the               agree, in some cases, that the leaving partner(s) will be
policy responding to the claim is the one in existence when         reimbursed for their time.
the claim is advanced, as opposed to the one that was
in existence when service was provided. For dissolved               Conflict resolution
partnerships, this could prove problematic.
                                                                    Taking care in the formation of the agreement can serve the
Recommendation #4: It is imperative that the reporting of a         best interests of the partners and the firm in the event of
claim or potential claim on a timely basis after dissolution        conflict as well.
be included as a clause in the partnership agreement, as
well as any other minimum disclosure requirements. These            Recommendation #6: The partnership agreement can
disclosure requirements should include at least the following       provide an arbitration or dispute mechanism process so that
two parts: first, that the leaving partner(s) must notify their     any disputes between practices are resolved privately and
former firm should they become aware of written or verbal           quickly – and not in a public court system.
allegations against them with respect to services provided
prior to separation; and second, the leaving partner(s)             Legal advice
should also make their former partners aware of any errors
or omissions that arise in regards to services to clients of        A partnership agreement is a legal contract.
the firm. Adhering to these requirements also ensures that
insurers can be promptly informed when a claim arises. The          Recommendation #7: It is imperative that legal advice be
possible repercussions of late reporting to insurers include        sought and a lawyer be used to prepare the partnership
a denial of coverage.                                               agreement. During this process, individuals should get
                                                                    independent legal advice to ensure their interests are
Recommendation #5: An accused partner who has left                  protected.
the firm should be required to cooperate and integrate his
or her efforts with the former firm to put forward the best         Recommendation #8: One final word of advice - once the
defence against a claim. This includes reporting the claim,         terms have been finalized, the partners need to sign the
being available to be interviewed by the lawyer defending           agreement, and each should keep their own copy in a safe
the case, and remaining available for court procedures,             place.
including mediations and examinations for discovery,

                                                                    While handling partnership dissolutions will inevitably pose
                                                                    new challenges to an accounting firm, issues involving
                                                                    files, claims and insurance needn’t be a nightmare. A
                                                                    little advance preparation can go a long way. The issues
                                                                    discussed here are difficult to address after partners
                                                                    have decided to go their separate ways. Animosity and
                                                                    disagreement can be minimized by mapping out obligations
                                                                    at the beginning of the partnership – your business ‘prenup'
                                                                    of sorts.

                   Connect to the best in tax and                   Guest contributors Malcolm D'Souza, MBA, CA and Kaitlin
                                                                    Shepell_fgi with AICA Services Inc.
                                                                    D’Silva are Ad 1_4 Version 2_Layout 1 10-11-02 3:35 PM Page 1
                   accounting at the new BeansTalk
                   Career Site.
                 ⇾ Search and apply for relevant, targeted           Connect to better health and well-being
                   jobs with employers across Canada                    Your CA-ASSIST Member Assistance Program
                                                                        A confidential counselling service offering individual and family support
                 ⇾ Post your resume in confidence and                    for day-to-day issues and major life challenges.
                   receive alerts each time a job in your
                   category is posted                                  Call your CA-ASSIST Member Assistance Program, 24 hours a
                                                                       day, seven days a week:
                 ⇾ Post jobs, search resumes and contact               1 800 387 4765
                                                                       Or visit online resources at:
                   candidates online                         
                 ⇾ Reach key professionals and firms in
                   a confidential setting, in real time


14          CheckMark • Autumn 2010
Aligning ‘new’ CICA                                               Further updates

                                                                  The PTC will provide periodic updates on the progress of
Handbook with Rules of                                            this work to the provincial institutes. In the meantime, as you
                                                                  implement the revised CICA Handbook standards, please
Professional Conduct                                              contact an Institute Member Advisor with any concerns or
                                                                  discrepancies that you note. They, in turn, will forward these
                                                                  concerns on to the PTC for review.
The Rules of Professional Conduct (Rules) contain a number
of references to the CICA Handbook. This article provides
                                                                  Institute Member Advisors can be reached at 416-962-1841,
an update on the reviews underway at a national level,
                                                                  ext. 456 or toll free at 1-800-387-0735, ext. 456.
which include an examination of the impact of the ‘new’
CICA Handbook on the Rules.

Independence Rule
                                                                  Processes now in Place for
                                                                  Canadian CAs Preparing
As you are likely aware, the CA profession, through the
Public Trust Committee (PTC) and its Independence Task
Force (ITF), has been reviewing the Rule of Professional
Conduct on Independence (Rule 204) in order to consider
whether our existing Rule can be better aligned with the
                                                                  u.S. tax Returns
Code of Ethics of the International Ethics Standards Board
                                                                  The new process for registration and regulation of paid
for Accountants (IESBA).
                                                                  preparers of U.S. tax returns – that was covered in the
                                                                  article Impact of IRS Tax Preparer Registration Rules on
One of the early results of that review is the proposal
                                                                  Canadian CAs in the Summer 2010 issue of CheckMark –
to introduce amendments to Rule 204 and its related
                                                                  is now in place.
Council Interpretation (CI) to establish new partner rotation
provisions for reporting issuer assurance engagements, to
                                                                  New regulations require all paid tax return preparers to
take effect immediately. The Institute’s upcoming Special
                                                                  apply for a Preparer Tax Identification Number (PTIN) – even
General Meeting on November 30, 2010 deals with those
                                                                  if they already have one – before preparing and filing any
amendments. For more information, refer to the Institute's
                                                                  U.S. tax returns after December 31, 2010. There are also
website at
                                                                  ongoing standards to be met for individuals to continue to
                                                                  be registered as preparers.
As part of its further review of Rule 204, the ITF is examining
all of the other independence provisions. It is aware that the
                                                                  Canadian firms need to review these regulations carefully,
introduction of Canadian Auditing Standards (CAS) will have
                                                                  as the requirements demand not only that the signing
an impact on some of the references in the Rule and the CI
                                                                  preparer register for a PTIN, but also certain other staff or
to current CICA Handbook standards, and may also impact
                                                                  tax professionals involved in the preparation of U.S. tax
the application of the standards. The ITF will be updating
references and providing further guidance where there
may be overlap or gaps between the Rules and the CICA
                                                                  The new requirements had raised concerns for Canadian
Handbook. Until that work is complete, members should be
                                                                  preparers of U.S. tax returns, as the registration processes
guided by current practice.
                                                                  were initially only put in place for individuals with a U.S.
                                                                  Social Security Number to obtain a PTIN.
For example, one area of concern that has been noted
relates to annual communication of independence matters
                                                                  The Internal Revenue Service (IRS) has now provided
on all audit engagements, whether related to reporting
                                                                  details of the process to follow to obtain a PTIN for paid
issuers (listed entities) or not. The current requirement
                                                                  preparers living outside the United States who do not have a
for such communications to take place for all audit
                                                                  U.S. social security number.
engagements continues, notwithstanding that the CAS
specify that such annual communication is only necessary
                                                                  For additional information regarding these requirements,
for listed entities, and do not address annual independence
                                                                  refer to the article U.S. Paid Tax Return Preparer Registration
communication requirements for other audit engagements.
                                                                  Process is Now in Place, by Jennifer S. Horner, CA, who is a
                                                                  Senior Manager with BDO Canada LLP. The article is posted
Other Rules
                                                                  in the Articles section of Practice Matters in the CA Firms
                                                                  area of the Institute’s website at
The balance of the Rules and related CIs also include a
number of references to current CICA Handbook standards.
                                                                  Further information and updates can be found in the Tax
The Rules Harmonization Committee, which also reports to
                                                                  Professionals section of the IRS website at:
the PTC, is currently reviewing the balance of the Rules to
address those remaining references and will recommend
amendments, as necessary, in the next several months.

                                                                                            CheckMark • Autumn 2010           15
     C              H           A               R A C T E R S
meet Donald J. macKay, CA
                                                                             “We worked pretty hard building that back nine. I got a little
                                                                             more aggressive with the timing than the contractor could
                                                                             get, so my sons, some of their friends and I laid 22 tractor-
                                                                             trailer loads of sod in two weeks around all of the tees and
                                                                             greens. It’s part of the construction technique that is used
                                                                             to hold your sod bed in place when you seed your tees
                                                                             and green. The back nine was built in 2000 and opened in

                                                                             Pardon the pun but the golf landscape had changed a great
                                                                             deal in Muskoka. They had gone from 10 courses in 1992
                                                                             to over 30 courses in 2010 but the base population had not
                                                                             changed. In simple economic terms, it was a classic case of
                                                                             over supply and under demand.

“When the BMath/CA option came up at the University of Waterloo, I applied   “We’ve had to get very creative. We just can’t deal on
and was accepted in 1970. Unbeknownst to me I, was part of the first-ever    price – we could drive ourselves into the ground and sell
class of co-operative CA initiatives in Canada.”                             it for a buck a round if we wanted to. But we wouldn’t get
                                                                             any more players. We are doing a lot of social networking –
If you close your eyes for just a moment you can almost                      Facebook, Twitter, and e-mail are some of my staples. It’s
picture it, a man with his young pup by his side, surveying                  tough to be creative and relevant with everything you have
the Scottish countryside with a set of golf clubs strapped                   to say.”
to his back and a determined glint in his eyes. He heads
for the clubhouse very early on a cool summer morning. As                    Don is staying on the edge of creativity and leading an
he swings open the door, with a nod of his head, Donald J.                   effort to bring the social networking platforms to bear on
MacKay confirms he is in the highlands all right – make that                 marketing Muskoka as a destination.
the Muskoka Highlands!
                                                                             Immanuel Kant once said that we can judge the heart of a
“I was the CFO of The Evans Group – they built four or five                  man by his treatment of animals and, if that is true, then Don
golf courses up here. I was with them for 10 years. And in                   MacKay must have the heart of a lion.
the last year or so that I was there, a recession hit. I saw
an opportunity to build a golf course right from a piece of
land which was earmarked for a course in development. In
July and August 1993, we built the first nine holes and had
Muskoka Highlands operational on July 1, 1994.

“You have to understand the market up here in Muskoka.
There were 10 golf courses and being from the accounting
end of life as I am, I did an analysis of the market. I took the
participation rate and saw how they lined up with the age
profiles and demographics. When I ran those two profiles
through a spreadsheet, it came out that we could survive
with 12 golf courses.”

In 1997, Don toyed with the idea of expanding to 18 holes.
He looked at it again in 1998 only to discover that from 1993
to 1998 one course a year had been opened in Muskoka.                        Don poses with his latest addition Angus (the little furry guy up front) at
That was five new courses, added to an already competitive                   Muskoka Highlands. “You become very attached to them – they are a part
                                                                             of the family. I’ll tell you, when Angus left it was very quiet around the house
field, bringing the new total to 18. Undaunted, with the                     without him.”
backing of his financial institution, he built the remaining
nine holes in 2000.

16            CheckMark • Autumn 2010
“When Joyce and I first got married, we bought a yellow Lab       So what is the pay-off?
we called Ramsay who was with us for 15 years. He died
the year we built the golf course and we all really missed        “You are invited to see your dog graduate and after the
having a dog. Then we were out west at a conference and           ceremony is over, you are also invited to say goodbye to
went to visit some friends in Vancouver who were helping          your dog. The last couple of times I’ve sat behind the dog
to train guide dogs in their home. We saw what they were          so he couldn’t see me (during the meet and greet). After his
doing and figured we could do that – it was like rent-a-dog       cape came off, I spoke to him – a 100-pound dog wheeled
for 10 months at a time. Well, it was 10 years ago that we        around and jumped in my lap like a puppy. It was as if
signed up for our first dog Hero and we’ve had eight other        nothing had changed. After 10 minutes, I realized that this is
dogs since. Now we are on number nine – Angus.”                   not my dog – it’s that blind lady’s and she has to get going.
                                                                  But you smile, the tears are finished and you are really, really
For Don, raising the puppies from two months to 12 months         happy – there’s the dog working and being a very valued
is a labour of love and a ‘give-back’ to society. The dogs he     member of society. That’s something you can’t get in the
has raised have represented all of the skill sets – hearing,      store, can’t get in a book – that’s real life gratitude. Then you
seeing and therapy. His second-last dog Scotland was              go home with your own dog and start the process all over
chosen to go to a nine-year-old autistic boy, as was another      again.”
dog, Ian.
                                                                  What do you think about being a Chartered Accountant?
“We pick them up when they are two-months-old and they
don’t even know their name – they are just trusting that          “I think being a CA is a privilege. You have to work really
you are going to feed and clean up after them. They learn         hard to get it, I’m not disputing that. If you look at it from that
everything from you and it grows into a real bond. They           standpoint, it is a discipline, it is a process and you come
come with a little green cape and when they have that cape        out differently than you went in.
on, they know they are working – they become a totally
different dog. He will walk beside me and when I stop,            “The CA training has taught me how to find solutions and I
he sits. When I’m sitting in a meeting, he lies down and          believe the profession provides great role models. The CA
doesn’t bother anybody. They learn that the cape means            is like being Canadian in the world of peacekeeping. And
something.”                                                       above all the CA designation is so transportable.”

After that much time with a dog, don’t you become                 Words of wisdom for those considering a CA designation?
                                                                  “Being a CA is probably one of the best platforms in the
“If you’re not attached to them, then you’re not doing your       world to work from because it is as general or as specialized
job. Part of the job is you want the dog to bond to you           as you want to make it. I think the youth of today have to
and you want to bond to the dog, because that is part of          look at the CA, not as a bean counter, but as a problem
the process they have to go through when they get their           solver and as a cornerstone of the community.”
eventual client. That dog has to be the best friend to their
new client because they become their eyes or their ears           He’s been Chairman of the South Muskoka Memorial
or their mechanic of how to pick up a phone or get a set of       Hospital Board, President of the Minor Hockey Association,
keys off the floor.”                                              President of the Bracebridge and Muskoka Lakes Rotary
                                                                  Club, Chairman of the Tourism Association and is shortly to
If Don MacKay has the heart of a lion he has the soul of a        become Chairman of the Board of the National Golf Course
lamb when he talks about the eventual day of giving back          Owners Association. He owns a golf course, trains guide
that same pup. Just before the 12 months are up, someone          dogs, is dad to three sons Andrew, Scotty and Russell, and
contacts him from the Dog Guide Foundation with a two-            husband of 33 years to Joyce.
week time frame and allows him to pick the date and time
for the return. It’s hard not to notice the slight pause in his   Ach laddie, fore paws down, Donald J. MacKay is some
thoughts and the crack in his voice as he describes the           special kind of Scotsman!
                                                                  Cate Freeman
“You almost can’t talk about it without a tear coming to your
eye because you know when you walk into that room, it’s
the last time you’re going to see that dog until he graduates.    Are you a “CA Character” or do you know someone who is?
The dog wanders around on his leash and he’s really               If so, contact Cate Freeman, Manager of Communications,
comfortable and then they say “Ok, you have to take his           at
leash off.” Well, that’s when the tears flow – when you say
goodbye. They put a leash on him right away and take him
off to another room. They walk away from you; you never
walk away from your dog. They are really compassionate
about it and the dog is happy to go with them. And then
usually the boys show up (Don’s sons) and we all go out for
dinner and remember the good times.”

                                                                                              CheckMark • Autumn 2010             17
CA	 	 	 	 	 	 Authors
                           Canada Tax Service Depreciable                                 Valuing a Business in Volatile
                           Property Guide 2010                                            Markets
                           Ryan Keey, CA 2004                                             James L. Horvath, CA 1974

                          The Depreciable Property                                        Valuing a Business in Volatile
                          Guide contains a section-by-                                    Markets is written and compiled
                          section analysis, researched                                    to enable business valuators and
                          and prepared by tax experts, of                                 others, whose business activities
                          the core provisions contained                                   touch on business valuation, to
                          in the Income Tax Act and                                       understand how the principles of
                          Income Tax Regulations related                                  business valuation are impacted
                          to depreciable capital property.                                by difficult economic times.
                          The analysis includes examples,
discussions of leading cases, and references to relevant        While the basic principles of business valuation do not
CRA publications (many of which are included in the             change, the economic environment raises new valuation
Appendix of the book).                                          issues and requires the application of valuation principles
                                                                and methodologies in different manners, or in ways that are
The Guide also contains easy-to-use materials, including an     informed by a different economic climate.
alphabetical index of the tax treatment of over 800 common
types of capital properties. The Guide brings together all of   The book also provides an international perspective and
the relevant material related to depreciable capital property   addresses new and emerging developments such as the
in one place, making research easy and efficient.               impact of the move from financial reporting under Canadian
                                                                and U.S. GAAP to IFRS.
Ryan Keey, CA, joined Carswell, a Thomson Reuters
business, four years ago as a Senior Tax Writer on McCarthy     James L. Horvath, CA, FCBV, ASA, MBA, is a Managing
Tétrault's Canada Tax Service. He has a Masters Degree in       Director with ValuQuest Limited and former Partner with
Accounting with a specialization in tax from the University     Deloitte LLP from 1988 to 2009. Having completed over
of Waterloo, and was a member of the 2003 UFE National          3,000 valuation assignments, including the supervision of
Honour Roll. Among Ryan’s other writing credits are the         large, complex multidiscipline valuation engagements, he
Practitioner’s Guide to Ontario Corporate Tax 2010 and the      has worked in a wide variety of industries and given expert
Canada Tax Service Elections Guide.                             testimony on valuation matters on multiple engagements.
                                                                James also has extensive international experience.
Chartered Accountants who prepare corporate tax returns
and tax provisions (those working for firms or corporations)    James has authored several other books and numerous
will find the Depreciable Property Guide an important           articles on valuation. Anyone interested in the book Valuing
research asset. For those who are interested, the book can      a Business in Volatile Markets can order it online at www.
found at                            

      Do You Want Free Publicity?
                     Share your knowledge on personal finance or small business.
       The Institute’s Articles Program distributes articles to print media across Ontario.
                                  We write the article and you get the glory!

         For more information, e-mail Cate Freeman, Manager, Communications at

18         CheckMark • Autumn 2010
FCA Elections and ICAO                                            Election

                                                                  A two-thirds majority vote of the Council is required to
Awards: move to a two-Year                                        elect a nominee. There are no overall, geographical or
                                                                  employment sector limits on the numbers to be elected.
Cycle                                                             Must be known as a CA
The Council recently established the frequency for all of the
                                                                  To be recognized as having brought distinction to the
Institute’s various recognitions and awards as once every
                                                                  profession, it is very important, broadly speaking, that
two years. Previously, FCA elections in Ontario were held
                                                                  the member was clearly identified as being a Chartered
every three years, and since 2003, the various awards that
                                                                  Accountant in making the achievements cited.
the Institute presents have been coincident with this timing.
                                                                  Nomination form of critical importance
Recognitions and awards provide a tremendous opportunity
to showcase the achievements of our members, and help
                                                                  To assist nominators in organizing their material, a nomination
raise the profile of the profession as a whole. The Council
                                                                  form has been developed to list a nominee’s accomplishments
determined that a two-year cycle balances the work effort
                                                                  in the following areas of service or achievement:
and cost of the election/award process with the benefits
achieved, while maintaining an adequate interval so that
                                                                  •   Career achievements,
nominators don’t become complacent about sending in
                                                                  •   Participation in career-related professional bodies
deserving nominations on a timely basis.
                                                                      and business development-related organizations and
                                                                      career-related communications,

2011 FCA Elections:                                               •   Volunteer leadership contributions to community service
                                                                      and personal interest organizations, and
                                                                  •   CA profession service and contributions to the work of
Call for nominations                                                  the Ontario Institute, CICA, other provincial institutes or
                                                                      related bodies.
The FCA is the highest designation that the Institute confers.
The objective of the Institute’s Fellowship elections is to       The information in the nomination form is critical to the
honour members who have given outstanding service to the          election of a candidate, and nominations must be well
profession or brought distinction to it. Following its decision   documented if they are to result in a nominee’s election.
to move to a two-year cycle, the Council authorized an FCA        Nominators are permitted to discuss a nomination with
election to be held in 2011.                                      their nominee, to help ensure that all pertinent nomination
                                                                  information and documentation is obtained and included,
The nominations deadline for the 2011 FCA election is             but nominations must otherwise be kept confidential.
Friday, February 25, 2011. The 2011 FCA recipients will           Testimonial letters are not accepted – to maintain the focus
be announced in July 2011 and honoured at a presentation          on the nominee’s accomplishments, absent the prestige of
ceremony to be held in October.                                   nominators and others, and to limit public knowledge about
                                                                  unsuccessful nominations.
Any member may nominate
                                                                  Nominators should provide full details of the nature and
While only members of Council vote in the actual election,        quality of the nominee’s activities, giving emphasis to
every Ontario Chartered Accountant is eligible to nominate        those they consider the most important. Evidence of the
candidates. Nominations must be seconded by a Council             nominee’s being known as a Chartered Accountant would
member, an FCA or a District Association president. The           include the use of the designation or the initials “CA” in
names of nominators and seconders are not made known to           publications involving the nominee, including newspapers,
the FCA Review Committee or the Council.                          other print media, and the Internet. Board of directors’
                                                                  listings in annual reports, calendars and event programs of
FCA Review Committee                                              university, hospital, chamber of commerce and other similar
                                                                  publications, are additional examples. Nominators are
An FCA Review Committee, chaired by the immediate                 encouraged to provide copies of such documentation.
past-Chair and comprised of five former Council members
appointed by the Council, makes a recommendation to the           There are no age restrictions in respect of nominees.
Council on each nominee. Members of Council may discuss
the Review Committee’s recommendation on any particular           More information and nomination forms
nomination with its Chair. They are not bound to follow the
committee’s recommendations in balloting.                         The nomination form, along with a Call For Nominations
                                                                  article describing the process, and detailed information
                                                                  on FCA Nomination and Election Criteria, Guidelines and
                                                                  Process can be found in the CA/Member Recognition
                                                                  section of the Institute’s website at

                                                                                            CheckMark • Autumn 2010           19
Can you spot thee?
D iffer enc

Contracts & Projects:
- Assistant Controllers
- Controllers
- Cost Accountants
- CFOs
- Internal Auditors
- IFRS initiatives
- Junior up to Senior Accountants
- SOX Specialists
- Taxation
- Treasury

For the PTC experience, call:
905-660-9550 OR 1-877-303-9550
Bruce Singer, Chartered Accountant

Look for me on:

Answer: It’s not what you see, it’s what we do.
There Are Answers.
Daunted by the overwhelming complexity and increasing discontinuity of
our times – from market meltdowns to dramatic shifts in the competitive
landscape? Discovering that the usual answers, tried and true remedies
and conventional wisdom of the past no longer apply?

Believe it or not, there are answers for these emergent challenges and
changing circumstances. And those who have these answers and critical
insights will not only survive, they will prosper and grow.

The Ontario Institute’s Executive Programs are unique in their
commitment to enabling CA professionals to find the answers. These
programs present you with the rare opportunity to step away from the
pressures of work to join a group of your peers and focus on what you
need to do to excel in today’s competitive business environment. Take a
look at these programs – and find your answers.

 2011 Executive Program Curriculum
 Finance Series
 The Controllership Program
     Operational Skills
     Management Competencies
 The CFO Leadership Program
     Operational Skills
     Leadership Competencies
 The Value-Driven CFO
 The CFO as Navigator

 Leadership Series
 Smart Leaders: Thinking & Innovation Skills for the 21st Century
 The Master Strategist
 The Optimal Negotiator
 Commanding Presence: Advanced Communication and Presentation Skills
 Becoming CEO (and Staying There): The Leader’s Edge

                            For more information visit

Executive Programs
Building Business. Building Careers.
or call Lawrence Wong at 1 800 387-0735 ext. 343
	 Development	News
                                                                      Susan Cox, CA
                                                                      Director of Professional Development

The 2010/11 Fall/Winter PD program is now in full swing!        These changes can make it a challenge to identify which
While the entire PD catalogue can be found on the Institute’s   PD courses are applicable for you, given your organization
PD website, a number of the offerings are highlighted in this   as well as your role within it, and the type of clients you
column.                                                         serve. We have developed a table of the accounting
                                                                and assurance courses to help you identify which ones
                                                                might be appropriate, based on five common CA profiles.
Accounting and assurance courses                                This chart can be found online at
Publicly accountable entities are required to adopt the
International Financial Reporting Standards (IFRS), and
private enterprises have the choice to adopt the IFRS or        It topics
the new made-in-Canada Accounting Standards for Private
Enterprises (ASPE), for fiscal periods beginning on or after    The Fall/Winter PD program offers a number of new course
January 1, 2011. Earlier application of either IFRS or ASPE     titles, including several on IT topics:
is permitted. Both the IFRS and ASPE must be applied
retrospectively (with certain exemptions and exceptions), so    •   Advanced Internet Research Techniques for
comparative financial statements for fiscal years beginning         Accountants
on or after January 1, 2010 must be prepared under the new      •   Excel-Based Dashboards
standards.                                                      •   Extensible Business Reporting Language (XBRL) – An
With the change to IFRS and ASPE, and with two exposure         •   Financial Modelling – Building an LBO Model
drafts out proposing new accounting standards for not-              (Modelling a Company’s Capital Structure)
for-profit organizations, there’s no shortage of accounting     •   Google Productivity Tools for Accountants
topics in the 2010/11 Fall/Winter PD program. The new           •   Microsoft Access for Accountants
Canadian Auditing Standards (CAS) are effective for the         •   Moving to Office 2007/2010 – A Road Map for Success
audits of financial statements for periods ending on or after   •   PDF Forms – What Accountants Need to Know
December 14, 2010, so there are plenty of new topics on         •   Secure Your Small Business Data
the assurance side too.                                         •   Social Media for Accountants – How to Use Online
                                                                    Networking Tools to Boost Your Practice
                                                                •   Tech Tools for Preventing & Detecting Fraud
                                                                                                              (Please see page 24)

                                                                                             CheckMark • Autumn 2010          23
(From page 23)

Registered charities
We have expanded the number of titles for those who deal
with registered charities. The new courses are:
•    Charity Fundraising & Receipting Rules – A Primer for
•    Recent Legal Developments Affecting Registered
•    Top Compliance Issues for Registered Charities, their
     Directors and CAs

new online CPD log
                                                                   Practice                          Practice
Keeping track of your continuing professional development
(CPD) learning hours has just become easier – thanks to the
                                                               Listing Service                       Matters
new online CPD log. You can access your log by using your      •	 Buy	a	CA	practice           •	 Articles	&	FAQs	on	
member ID and password to log in. Courses completed            •	 Expand	an	existing	CA	         common	Member	and	
through the Institute’s PD program will automatically be          practice                       Practice	Advisory	issues
displayed in your CPD log, and you can add in any other        •	 Sell	your	CA	practice	or	   •	 Online	Practice	Listing	
verifiable or non-verifiable CPD activities and print out a       downsize                       service
summary at any time.                                           •	 Check	out	our	Autumn	       •	 Marketing	tips	–	Links	
                                                                  Special                        to	articles	and	external	
Information                                                                                   •	 Links	to	various	external	
                                                                                                 resources	for	CAs	in	
More information on the Institute’s PD programs is available                                     practice	and	industry
at, in the Professional Development section
of the website.                                                    Web-based support is available to
                                                                     members at

     Touching Lives

     CAs Needed!
     Volunteer 3-4 hours of your time to help
     put money back in the pockets of those
     in need.

     Register on-line at,
     by clicking on the Volunteer Form and then
     logging in.

     Enjoy the very satisfying experience of helping
     people in our community.

24           CheckMark • Autumn 2010
Second term of Small                                           In memoriam
Practices Advisory                                             The Ontario Institute has received, with regret,

Committee Begins                                               notification of the deaths of the following members
                                                               since the last issue of CheckMark:

The Small Practices Advisory Committee met on October 1
                                                               ADAMS, Robert Paul, Sault Ste. Marie
and welcomed three new members: Stephen Lutvak from
Windsor, Laura Szczepaniak from Sault St. Marie and Doug       ATKINSON, Roy Edward, Orillia
Bierer from Chatsworth. Former Vice-Chair Edward Fink          AYEARST, James Charles, Thornhill
became Committee Chair, and Frank Fazzari and Christene        BALL, Kenneth Warren, Mississauga
Scrimgeour were elected Vice-Chairs.                           BISH, Robert Paul, Kitchener
                                                               BOYD, Nelson Herbert, Toronto
The key items on the day’s agenda were licensing and
                                                               BROAD, Robert Hilton, Burlington
practice inspection. Highlights of the discussion are
summarized below.                                              BROCK, Paul Gerhard, Ottawa
                                                               COOKE, Judith Alison, Oakville
Public accounting licensing                                    DUNLOP, Dorothy Jean, Toronto
                                                               EDWARDS, David Kent, Harrow
Committee members continue to discuss with Institute staff
                                                               EPSTEIN, Lionel Ephraim, Toronto
ways to assist the many small practitioners who are unable
to renew their public accounting licences under the current    FUNG, Bernard Siu Yu, Hong Kong
legislated hour-based requirements, and highlighted the        GEDIR, Earl, Markham
following areas where clarification would be useful:           GLICKSMAN, Morris Harold, Willowdale
                                                               GRUNER, Christopher James, Oakville
•   Whether monitoring and related quality control services    HAGUE, Ian Philip Neil, North York
    qualify as ‘public accounting service’ assurance
    experience requirements;                                   HENDRIKX, Mark Leon, Newcastle Village
•   Which factors to consider in making an assessment of       HOULAHAN, Joseph Paul, Brantford
    whether compilations or associated materials will be       HOUSER, Cyril, Toronto
    relied upon or used by a third party; and                  JACKSON, Peter, Unionville
•   What information should be provided by those               JAMES, Robert Andrew, Ancaster
    members without sufficient hours for renewal when
                                                               LONN, Henry, Cote St. Luc, QC
    making an application to the Institute’s Public
    Accounting Licensing Board for renewal of their licence.   MADILL, John Edward, Sault Ste. Marie
                                                               MARCOVITZ, Chaim, Toronto
Practice inspection                                            MATTHEWS, Lloyd Allen, Etobicoke
                                                               MURTON, John Stewart, Toronto
Committee members met with staff from Practice Inspection
                                                               OVERBAUGH, Murray Scott, Waterdown
and brought a number of concerns to their attention. There
was also a discussion on how best to deal with issues that     QUIGG, Milton Harold, Scarborough
arise as part of the practice inspection process.              REYNOLDS, William Roy, Newmarket
                                                               RUBY, Albert Chadwick, Kitchener
Other matters                                                  RUSSELL, Glenn Alan, Landmark, MB
                                                               SCOTT, James Edwin, Ottawa
The Committee is considering the usefulness of an annual
                                                               SCULLION, James Kenneth, Etobicoke
small practitioners’ conference as an educational and
networking forum for small practitioners.                      SIMONS, George, Toronto
                                                               SMITH, Gregory Madill, Willowdale
How You can Connect to the Committee                           SOSTARICH, Nicholas Andrew, Sudbury
                                                               SYME, George Edward, Barrie
As always, the Committee welcomes input and ideas
                                                               TAYLOR, Edward Earl, Toronto
from their fellow practitioners. Please send them to the
Committee through Louis Kan at or at           THOMSON, Donald James, Toronto
416-969-4235.                                                  VINCE, Brenda Jane, Etobicoke
                                                               WHEELER, Eldon C., Burlington
Updates on the Committee’s activities can be found in the      YULE, Arthur Edward Watson, Toronto
Technical Services section under the CA Firms tab on the       ZDZIARSKI, Edward Stanley, Leamington
Institute’s website at

                                                                                     CheckMark • Autumn 2010         25
ICAO Award of Distinction                                            •    Other: an open category to include personal
                                                                          interest activities such as sports and arts, and other
                                                                          distinctions. The selection criteria for the award is
The ICAO Award of Distinction was established to                          deliberately broad in order to provide the flexibility
acknowledge and profile those younger Ontario CAs                         needed to celebrate the diversity represented in the
who have brought distinction to themselves and to their                   pursuits of many of our younger members.
profession because of their leadership and achievement
in various aspects of their personal and professional lives.         Successful nominees will likely display the highest level
Beginning in 2011, the ICAO Award of Distinction will be             of leadership/achievement in more than one category,
given every two years, coincident with the Institute’s FCA           while demonstrating a notable level of success in several
elections.                                                           others. Importantly, candidates should clearly be known as
                                                                     Chartered Accountants in making the achievements cited in
The 2011 Recipients of the ICAO Award of Distinction                 their nomination.
will be announced in July 2011 and will be honoured at a
celebration evening in Toronto in October along with our             As the ICAO Award of Distinction is intended to honour
newly elected 2011 FCAs.                                             younger CAs, the age of 40 years has been chosen as a
                                                                     cut-off. As a result, only those CAs born in 1971 or later will
The nomination deadline is March 31, 2011.                           be eligible for consideration for the 2011 awards.

Criteria                                                             Nomination

The ICAO Award of Distinction is intended to recognize               Every Ontario Chartered Accountant is eligible to nominate
younger CAs who have demonstrated success in a broad                 candidates for the ICAO Award of Distinction. The names
diversity of interests. Those successes will likely be visible in    of nominators are not made known to the Award Review
a combination of professional and personal life endeavours.          Committee or the Council.

Recipients of the ICAO Award of Distinction will have                The ICAO Award of Distinction selection process provides
demonstrated excellence in a number of areas of service              for nominators to consult, confidentially, with potential
and achievement, such as:                                            nominees about being nominated for the Award. This
                                                                     enables potential nominees to consider whether they have
•     Education: contribution to CA education, teaching,             achieved the criteria and would like their names to go
      mentoring, coaching, UFE preparation, School of                forward. It also helps nominators to ensure that they have
      Accountancy, etc.                                              all the information and documentation required to evidence
•     Promotion of the Profession: communications                    the contributions and activities of their nominees. The Award
      (speaking, writing, media), recruitment of students, etc.      selection process is otherwise confidential and prohibits
•     Community and Profession Service and Volunteerism:             testimonials.
      charitable community work, service to the profession
      and other business groups, CASAO, district                     Review and Election
      associations, tax clinics, etc.
•     Career Related Achievements: excellence in chartered           ICAO Award of Distinction recipients will be chosen
      accountancy (UFE and academic achievements),                   following a rigorous nomination and selection process
      career position, other professional/ academic                  which culminates in a secret-ballot vote of the Council. An
      achievement, etc.                                              Award Review Committee – comprised of five current and

    Christine E. Sinclair Community Leadership Award
    The Christine E. Sinclair Community Leadership Award was established to honour young CAs who have brought
    distinction to themselves and their profession through their voluntary community leadership.

    Created in honour of Institute past-Chair, the late Christine E. Sinclair, the Award will be presented every two years as
    part of the ICAO Award of Distinction recognition. It is fitting that this Award should bear the name of Christine E. Sinclair,
    FCA – a trailblazer who was the first woman to serve as Institute Chair and who dedicated so much time to both her
    community and profession.

    The Christine E. Sinclair Award will be presented to the one CA within the ICAO Award of Distinction nominees who has
    most distinguished him/herself through exceptional leadership in community volunteerism. As an additional honour, the
    Institute will donate $2,500 in the recipient’s name to a registered charity of their choice.

26           CheckMark • Autumn 2010
former Council members – will first evaluate all nominations
and then make a recommendation on each nominee to                  2010 - 2011 Doctoral
assist Council members, who make their own independent
evaluation of the nominees. A two-thirds majority vote of the
Council is required to elect a nominee.
                                                                   Studies Support Awarded
                                                                                          The Institute is delighted to announce
There are no overall, geographical or employment sector                                   that two CAs who are pursuing PhDs
limits on the numbers to be elected.                                                      in Accounting have been awarded
                                                                                          $15,000 each in support.
More Information and Nomination Form
                                                                                          Congratulations to the new recipient
Nominations must be submitted on the prescribed                                           of the award: Kun Huo, University
Nomination Form and endorsed by one Ontario CA. More                                      of Waterloo. In addition, continuing
information and the required form can be found in the CA/                                 support has been awarded to: Han Li,
Member Recognition section of the Institute’s website at                                  University of Toronto.
                                                                          Kun Huo
                                                                                        The award is for the 2010-2011
                                                                   academic year, and relates to Kun’s first year and Han’s

Institute’s Doctoral Studies
                                                                   second year of the PhD program.

                                                                   The Institute also provides other tangible support. For
Support Program Deadline:                                          example, several past recipients have been contracted as
                                                                   seminar leaders for the School of Accountancy.

January 31, 2011                                                   This opportunity not only provides them with additional
                                                                   financial support but also with a greater understanding of
The Institute’s Doctoral Studies Support Program, which            Ontario’s CA qualification process. This is sure to serve
encourages CAs to pursue doctoral studies in performance           them well in their full-time employment in an Ontario
measurement and reporting, assurance, governance,                  university.
strategy and risk management, finance, taxation or
management decision-making, and teach in an Ontario                Started in 1978, the goal of the Institute’s doctoral studies
university, provides forgivable loans of up to $15,000 per         support program is to increase the supply of well-qualified
year, for up to three years.                                       full-time accounting faculty in Ontario universities. This
                                                                   program continues to be an integral part of the ICAO
This key element of the ICAO Support Program for                   Support Program for University Accounting Education in
University Accounting Education in Ontario is now in its           Ontario. To date, some 41 supported candidates have
32nd year.                                                         obtained their PhDs and 22 are teaching/or have taught in
                                                                   Ontario universities.
To be considered, applicants must:
                                                                   Doctoral studies support is provided through loans forgiven
•   be accepted into a doctoral program and/or be in the           by teaching in Ontario universities following the conferral
    course work stage of the doctoral program. Applicants          of the doctorate degree; one year of support is forgiven for
    who have not yet been accepted into a doctoral                 each year taught. Once the teaching obligation has been
    program may still apply for the Doctoral Studies               completed, candidates are entitled to use the appellation
    Support Program; however, funds will only be released          ICAO Doctoral Fellow. In all, there are currently 11 ICAO
    upon acceptance into a doctoral program;                       Doctoral Fellows teaching full-time at eight different Ontario
•   concentrate their studies in performance measurement           universities.
    and reporting, assurance, governance, strategy and
    risk management, finance, taxation or management               The Institute is pleased to report that in 2010, James Moore
    decision-making, and demonstrate that those studies            received his doctorate degree and is currently completing
    will prepare them for a career in teaching or research in      his teaching obligation at Brock University.
    at least one of those areas; and
•   have a demonstrated ability and interest in teaching.          Candidates who choose to pursue their careers elsewhere –
                                                                   usually in the U.S. – or who do not otherwise ‘teach out’ their
For further information, contact Karen Salij at the Institute at   obligations are required to repay their loans. Taking that
416-969-4238 or 1-800-387-0735, ext. 238 or e-mail ksalij@         into account, the program’s net paid/committed support                                                        amounts to $1.28 million to date.

                                                                                             CheckMark • Autumn 2010            27
                                                        the	Districts
                       Nora Murrant, FCA, FCBV

                               Through tax clinics, career information activities, sponsorships and other communications
                               programs and contacts, the Institute’s 23 District CA Associations play an important role
                               in projecting our profession’s local community profile. They are also the focus of local CA
                               fellowship. Nora Murrant, FCA, FCBV, the Institute’s Executive Vice-President and COO,
                               provides leadership for the District Associations system.

Visits to the Districts                                            DA leadership
Member functions, as well as local business audience, high         The presidents of the Institute District Associations for 2010-
school and university events, have all been a traditional part     2011 are listed below. We congratulate them on their new
of the Institute Chair’s visits to the Districts. Greg Gallant     leadership responsibilities and wish them a successful year!
commenced his two-year term as Chair this past June and
will strive to visit each of the Districts at least once during    District          President            Employer/Firm/Location
his tenure. President and CEO Rod Barr, and other senior
ICAO volunteers and staff, are augmenting Greg’s visits            Central Ontario   Clyde R. Catton      BDO Canada LLP, Oshawa
around the province to ensure that we maintain a current           Cochrane          Julie A. Lemieux     Collins Barrow - Gagne Gagnon
interaction with members, students and other CA profession                                                Bisson Hebert, Kapuskasing
                                                                   Eastern Ontario   Brent W.R. Wilson    Collins Barrow SEO LLP, Kingston
At this time, the following visits have been booked or taken       Essex-Kent        Carlos R. Redfern    Deloitte., Windsor
place:                                                             Etobicoke         Deborah A. Schaufele Deborah A. Schaufele, CA, Toronto
                                                                   Georgian Bay      David A. Holmes      David A. Holmes, CA, Barrie
October 21         Kapuskasing (Cochrane DA)
                                                                   Halton-Peel       Gul Nawaz            Nawaz Taub & Wasserman
                                                                                                          Chartered Accountants LLP,
November 23        Windsor (Essex-Kent DA)                                                                Mississauga

December 8         Hamilton UFE Reception                          Hamilton          Jeffrey Cabral       KPMG LLP, Hamilton
                                                                   Lambton           Brent F. Steeves     Hazlitt Steeves Harris LLP, Sarnia
December 16        Ottawa UFE Lunch
                                                                   Niagara           Bryan K.A. Boles     KPMG LLP, St. Catharines
January 27         North Bay                                       North Bay         Amanda C. Wallace    MBA student
                                                                   North York        Melanie E. Russell   Kalex Valuations Inc., Toronto
May 18             Scarborough
                                                                   Northwestern      Joe Riccio           Grant Thornton LLP, Thunder Bay
Please watch for a notice from your local DA for more
                                                                   Ottawa            Suzanne R. Gignac    Office of the Comptroller General,
information, and come out to meet Greg, Rod and the other
Institute representatives when they visit your community.
                                                                   Renfrew           Kathleen A. Hoffman Dean-Sinclair Chartered
                                                                                                         Accountants, Pembroke

28           CheckMark • Autumn 2010
Sault Ste. Marie Liliana Silvano        Ontario Lottery & Gaming              Waterloo-Wellington
                                        Corporation, Sault Ste. Marie
                                                                              The Waterloo Wellington CA Association held its annual
Scarborough       Ann J. Galvin         Stern Cohen LLP, Toronto              charity Golf Day on May 27 at Rebel Creek Golf Club. The
Stormont-        B. Lee Mattice         Welch LLP, Cornwall                   weather was very co-operative and the 110 golfers had an
Dundas-Glengarry                                                              excellent day.
Sudbury           Barbara A. Dubois     City of Greater Sudbury, Sudbury      Thanks to all of the participants and sponsors, the Waterloo
Waterloo-         Flavia Nadjmico       Research In Motion Limited,           Wellington CA Association was able to donate $2,500 to its
Wellington                              Waterloo                              supported charity, Project Read.
Western Ontario Ian J. Jeffreys         KPMG LLP, London
York              Jonathan A. Tucker    Tabac Tucker LLP, Richmond Hill
                                                                              The Essex-Kent CA Association held a joint charity golf
Golfing for charity                                                           event with the Essex Law Association on June 1. The 128
                                                                              golfers in attendance raised funds for the Windsor/Essex
A number of DAs hold local charity golf events which                          County Humane Society as they enjoyed a great day at the
complement the Institute’s Toronto-based CA Golf Day for                      Pointe West Golf Club.
Children’s Charities. Below are the highlights of a few of the
2010 events.                                                                  Ottawa DA Breakfast Series
Hamilton                                                                      For the past year, the Ottawa CA Assocation (OCAA) has
                                                                              been running guest speaker breakfast sessions for local
The Hamilton District CA Association’s 2010 Children’s                        Ottawa CAs.
Charity CA Golf Day was another great success. The
tournament was held on June 1 at Dundas Valley Golf &                         On October 1, the OCAA teamed with The Business
Country Club and raised an impressive $10,500 for the                         Development Bank of Canada (BDC) to provide over
McMaster Children’s Hospital!                                                 40 members with the opportunity to learn about recent
                                                                              developments in credit markets and, more importantly, how
The Hamilton DA is very proud to have raised $63,500 over                     they have impacted the business community in the Ottawa/
the past seven years for this excellent charity, and would                    Eastern Ontario region.
like to thank all of their sponsors and golfers who made this
event possible.                                                               The event also provided members with an opportunity to
                                                                              learn about the BDC and how it can help CA clients.
Special thanks go to the tournament’s gold sponsors, Joe
Monaco and John Loukidelis, from Simpson Wigle LLP
Barristers & Solicitors, for their continuing generous support!               Join your local DA
                                                                              Membership in your local DA is completely voluntary. While
                                                                              your area of residence will ordinarily determine which local
                                                                              DA you would join, members are welcome at any DA event.

                                                                              CAs living in the central Toronto area are invited to become
                                                                              a member of any adjacent DA, particularly Etobicoke, North
                                                                              York, and Scarborough.

                                                                              To contact your local DA, check the District Association
                                                                              section under the CA tab at

Seen at the Hamilton Golf Day cheque presentation are, from left: Dr. Peter
Fitzgerald, President, McMaster Children’s Hospital; Robert Tartaglia and
Grant Cuylle, Golf Committee members; and Jennifer Laughton, Vice
President Development, McMaster Children’s Hospital & McMaster University
Medical Centre.

                                                                                                       CheckMark • Autumn 2010           29
Nina Aadnesgaard - Francesco Abate - Taryn Abate - Abdirazak Abdi - Rayhaneh Abdul-Satar - Paul Abercrombie - Nalika Abeysinghe - Mohammed Abji - Sheldon Abramovitch
Jonathan Aceski - Reginald Adelman - Daniel Adelstein - Adefemi Adeyinka - Rohan Advani - Forough Aghili - Arumugam Ahilesan - Kaela Aho - Qura Ain - Christopher Alexander
Lauren Alexander - Narbe Alexandrian - Amy Alford - Kerry Algar - Naureen Ali - Richard Ali - Sinan Alkabie - Bruce Allan - Kate Allan - Scott Allan - Jan Allardyce - Breanne Allen
Donald Allen - Emily Allen - Jessica Allen - Misty Alliett - Trevor Allin - Darlene Allworth - Hiba Alvi - Karen Anderson - James Andrews - Dan Ane - Giacomo Angelini
Stefanie Angelini - Bryce Anger - Catalina Anghel - Arslan Ansari - Lindsay Antenucci - Melanie Anwhatin - Steven Aprile - Mohammed Araji - Frederick Archer - Daniel Archibald
Donna Ardelean - Bruce Armstrong - Faye Armstrong - Jenn Armstrong - Bud Arnold - Christina Arnold - Brent Arsenault - Suthan Arulanantham - Angelo Ascione
Sean Ashbee - Lindsey Ashby - Karen Attwood - Michelle Auger - Ian Aukema - Guillermo Aymard - Arthur Azbel - Kais Aziz - Damanjeet Bajwa - Jayne Baker - Inderpal Bal
Penny Balberman William Balco - Ashley Balics - Shikha Bansal - Erika Banwell - Richard Banwell - Alexander Baptist - Boris Baranov - Eban Bari - Rod Barr - Martha Barrera
Kevin Barrett - Kaitlyn Barry - Sarah Bartal - Christina Basanti - Adriene Bate - Michael Baxter - Heather Baynes - Howard Beaudette - Roxane Beaulieu - Kristine Beaupre
Scott Becks - Sukhjit Bedi - Sarah Beer - Douglas Begley - Michael Belardo - Kenneth Bell - Norman Bellefontaine - Ruth Bell-Towns - Jordan Bennett - Kathleen Bennett
Courtney Benvenuti - Ania Berezowski - Ian Bergin - Byron Beswick - Dinshaw Bharucha - Rishi Bhayani - Armeen Bhesania - Alicia Biamonte - Joshua Birman - John Birtwistle
Laura Bishop - Wendy Biss Cassie Bissonnette - Roland Bissonnette - Ryan Bissonnette - Nathan Black - Eva Bockholt - Lorena Boda - Christopher Bodnar - Amy Bodner
Gregory Boehmer - Joanna Bojankiewicz - Thomas Bolland - Tammy Bonner - Melanie Borho - Michael Bos - Elena Botos - Barry Boucher - Kavika Bourbeau - Romeo Boushey
Kimberly Boutin - Greg Bowie - Mitchell Bowman - Victor Boyd - Riddhi Brahmbhatt - Navreet Braich - Katsiaryna Bratkouskaya - Jordan Bray - Louise Breton - Timothy Bridge
Gordon Briggs - Matthew Brikis - Kevin Brodie - Kimberley Bromfield - Jacquie Brooks - Linda Brouillette - Shawn Brown - Marlene Brubacher - Daniel Brunet - Don Bryson
Maryna Bryzytska Nicole Bucciacchio - Sheldon Buchalter - Katie Buchanan - Andrew Budd - Emma Bufton - Jason Buitenhuis - Betty Bults - David Bunce - Eric Bunn - Erin
Bureaux - Mark Burnes Thomas Burton - Carol Buss - Charles Buss - William Butler - Devin Byrnes - Jovita Caballero - Frank Calabrese - Carol Calzavara - Carmen Cambareri
Angela Campbell - Tara Campbell - Ronald Cannata - Marie Cannon - Huzaan Canteenwala - Amanda Cao - Shanshan Cao - Tu-Binh Cao - Xie Cao - Jason Capaldi - Leonard
Cappe - Jennifer Carey - Cara Carlson - Stephanie Caron - Toby Caron - Sean Carr - Alexander Carswell - Jory Caruso - Erin Casey - Michael Castellan - Luigi Castelluzzo - David
Catarino - Christina Cautillo - Ryan Cavanagh - Bryan Ceresne - Lyanne Chabot - Denis Chaine - Bruce Chambers - Charles Chambers - Kayla Champagne - Ana Chan - Diane
Chan - Hon Chan - Iris Chan - Keith Chan - Kevin Chan - Mark Chan - Samson Chan - Tiffany Chan - Tommy Chan - Yvonne Chan - Elaine Chang - Gigi Chang - Paul Charette
Yannick Charette - Jennifer Charlebois - Teresa Charlebois - Justin Chartrand - Puneet Chattree - Anthony Chen - Lian Chen - Min Chen - Ting Chen - Tracey Chen - Xi Chen
Xiating Chen - Yan Chen - Yi-Ting Chen - Lester Cheng - Jagdip Chera - Maria Cherkasova - Jason Cherney - Michael Chesher - Arthur Cheung - Benjamin Cheung - Kar Cheung
Mitchell Cheung - Nicholas Cheung - Sunny                                                                                              Cheung - Marlene Chiarotto - Paul Chiasson
Kayla Childs - Nancy Chirico - Stephen                                                                                                 Chisholm - Diana Chiu - Wendy Chiu - Hwa
Kyung Cho Steven Chong - Bob Choo                                                                                                      Choon Choong - Joanna Chorabik - Carey
Chow - Helen Chow - Karen Chow - Warren                                                                                                Chow - Carmen Choy - Lang Choy - James
Chuang - Cheryl Chung - Claudia Chung                                                                                                  Karen Chung - Yonnie Chung -Valerie Chung
Sik      Yuen      -     Frank       Cianchetti                                                                                        David    Cieslowski     -    Raisa    Ciobanu
Erica Clapp - Laurie Clark - Tiffany Clark                                                                                             David Clarke Christine Clement - Joshua
Cohen - Jordan Cole - Carol Coleman                                                                                                    Enio Coletti - Elise Collins - Patricia Colwill
Dawson       Coneybeare      -    Rong   Cong                                                                                          Barbara Connell - Lisa Constantine
Sarosh      Contractor     -     Colin   Cook                                                                                          Paul Corcoran - Jacqueline Corneil
Kristen Cornell - Justin Cote - April Cotton                                                                                           Laura Couvrette - Simon Couvrette Michael
Cowan - Trevor Cowan              Brian Cowell                                                                                         Matthew Cowin - Susan Cox - David Crack
Kathleen Crawford - Rosemarie Crnac
Cywinska - John Czubak - Barbara Da Silva
Katherine Dagenais - Claude Daigle
                                                          Thank you to all the                                                         Angela Cummings - Naomi Cutler - Monika
                                                                                                                                       Margaret Da Silva - Thomas Dabrowski
                                                                                                                                       Kelly Daley - George Dalton - Donovan
D'Amboise - Ida Dametto - Drora Dan
Benjamin Darkwa Okyere - Shubham Datta
                                                        2010 Free CA Tax Clinic                                                        Alessandro D'Angelo - Robert D'Angelo
                                                                                                                                       Richard Davies - Ruth Davis - Ryan Davison

Faraaz      Dawood      -      Heidi   Dawson                                                                                          Michael Dawson - Carolyn Day - Graham
Day - Patricia Day - Angelina De Luca                                                                                                  Caterina De Luca - Perry de Man - Joanne
De     Medeiros      -   Kayla      De   Pauw                                                                                          Robin De Prophetis - Laura De Santis
Valerie De Souza - Heather Deitz                                                                                                       Diana    DeJong       -    Robert     Delaney
Monique       Delorme      -      Gary    Dent                                                                                         Michaella DePalo - Katarzyna Deren
Rene Deroy Patrick Dervin - Avni Desai - Laura Desantis - Fred Deschenes - Karine Desjardins - Alana Detenbeck - David Devere - Ryan Devereux - Alan Dewling - Mohamed
Dewshi - Veerpal Dhaliwal - Shalini Dharna - Blerta Dhima - John Di Labio - Laura Di Paolo - Agata Diamontene - Stephanie Dietz - Dimitar Dimitrov - William Dines - Jennifer
Dionne - Ryan Diotte - Neil Dixon - Jeremy Doan - Ivan Dolynskyj - Atkins Dondo - Jason Donn - Rob Donofrio - Adrian Donoghue - Ramon Dorillo - Arjun Doshi - Sterling
Doucette - Catrina Dowie - Matthew Downey - Patricia Downie - Andrew Drake - Debbie Drapeau - Jing Du - Mike Duerden - Blair Duffy - John Duggan Karen Duggan - Linda
Dulmage - Roy Dulmage - Jocelyne Dumaresq - Jennifer Duncan - Paula Duncan - Tambra Dunn - Lan Duong - Patrick Dupont - Gisele Durocher - Kevin Dyck - Dianne Dyer
Bartosz Dziarski - Mark Eamer - Jennifer Eberman - Zamreen Ebrahim - Adam Eckert - Ian Edmonds - Omar Ehtesham - Jordan Elias - Brandy Elliot - James Elliott - Robert Elliott
Michael Elsof - Ingrid Enhagen - Daniel Epp - Elyse Epstein - Arnold Esaagoolian - Jamie Evans - Leanne Evans - Rita Evdokimova - Amanda Ewing - Huma Faheem - Sina Faiz
Hugh Faloon - Siming Fan - Justin Farbstein - Chris Fardell - Carrie Farr - Christina Faust - Lara Favas - Julianne Favron - Adrian Feigelsohn - Jing Feng - Sherry Feng - Melissa
Fenton - Jessica Ferrari - Celeste Ferreira - Sviatoslav Feshchenko - Raffaele Fiala - Ian Fiebig - Shannon Field - Kristine Finch - Geoffrey Fisher - Ian Fisher - Michelle Fisher
Ashleigh Fitzgibbon - Kim Flanagan - Jason Fleming - Matthew Flood - Allan Fong - Janet Fong - Michael Fong - Daniel Fontaine - Penny Forbes - David Forestell - Thomas
Forestell - Katharine Forth - Melissa Foucault - Andrew Fougere - Simon Francis - Andrea Franco - Bernadette Franjieh - Ashley Frank - Kathleen Fraser - Kenneth Fraser - Marie
Fraser - Michael Freckleton - Michael Freel - Samara Freitas - Neil Friedman - Lenore Friesen - John Froese - Janice Fry - Yidan Fu - Shannon Funchion - Florence Fung
Lawrence Fung - Patrick Fung - Alain Gagnier - Matthew Gagnon - Robert Gagnon - Jason Gaiotto - Lily Galati - Kathleen Galbraith - Lincoln Galbraith - Pedro Galego - Michael
Galloro - Jacqueline Garneau - Kimberly Gatenby - Kenneth Gayle - William Genga - Donna Genova - Alexander Georgievski - Donald Gerrior - Thomas Getliffe Muhammad
Ghanchi - Humayun Ghani - Cindy Gibbings - John Gibson - Lesia Gilbert - Laura Gilchrist - Candace Gillard - Aaron Gillespie - Ryan Gilmour - Elizabeth Gimbra - Thomas Gingras
Irina Ginzburg - Nicholas Giovanelli - Charanjit Girn - Stacy Glenn - Karen Glover - Marina Gobran - Michelle Godin - Ronald Godkin - Daniel Goldberg - Leonard Goldberg - Eric
Goldberger - Jamie Golombek - Juan Gong - Mariana Gonzalez - Jay Goodis - Alan Goodman - Robert Gore - Jason Gorel - Juli-Ann Gorgi - Dominic Goss - Ronald Gould - Betty
Gowdy - Krzysztof Grabka - Amanda Graham-Rowe - Anne-Marie Granger - J. Alain Gravelle - Emily Gray - David Grebenc - Tracy Greenfield - Kulveer Grewal - Kate Grund
James Grundy - Caroline Gu - Allessandro Guarna - Andrea Guenther - Feng Guo - Jessica Guo - Victor Gustavison - Stanley Guttman - David Gvora - Jiwon Ha - Manhhung Ha
John Haalboom - Torben Haarbye - Stephanie Habjan - Sarah Hadley - Pat Haefling - Arfe Hafi - Jonathan Haig - Bartlomiej Halasa - Jessica Haley - Ruth Hall - Lori Halliday
Jonathan Halpern - Tyler Haluczak - Waqas Hameed - Timothy Hamelin - James Hamilton - Krista Han - Brooke Hancock - Lina Handoko - Omar Hanif Maurice Hanley - Marseel
Hanna - Melissa Hannon - Derek Hansis - Charnkamal Hansra - Naheed Haqanee - Peter Harcoff - Mark Harendorf - Sachit Harish - Sarah Harris - Tiffany Harris - John Harty - Ann
Harvey Hope - Nasir Hasan - Umar Hasan - Zubair Hasan - Sam Hassaan - Jack Hasserjian - Andrew Hauraney - Jolanta Hausner - Charles Havill - Anton Havorka - Brian
Hawthornthwaite - Janet Hayes - Xiaolei He - Anne Healy - Michael Heiland - Daryl Heinsohn - Benita Hemm - Bruce Hemming - Innogen Henderson - Robert Henderson - Ian
Hendry - Martin Hengeveld - Mitchell Hermansen - Suhasha Hewagama - Rachel Hewitt - James Higgs - Jessica Hill - Thomas Hill - John Hillerby - Bruce Hilliard Ian Hillis - Tanya
Hill-Lariviere - Christopher Hinman - Eric Hinse - Chun Sun Ho - Donna Ho - Martin Ho - Patrick Ho - Pui Sang Ho - Giao Hoang - Peter Hobb - Matthew Hodge - John Hodgin
David Hoffman - Steven Hogg - Paul Holden - Christy Holland - Gerald Holowachuk - Grace Hon - Ellen Hood - Melika Hope - Jennifer Horner - JunJun Hou - Jeffrey Howald
Mark Hrabok - Cherie-Lynn Hruska - John Hrymak - Lawrence Hsieh - Jennifer Hsiung - Katherine Hsu - Adabel Hua - Ngoc Hua - Evan Huang - Luke Hudson - Rebecca Hudson
Jessica Huffman - Arthur Hughes - Nathalie Hull - Valerie Hull - Jessica Hum - Donald Hunter - Matthew Hurst - Ahmad Husain - Baqer Hussaen - Armeen Hussain - Beverley
Hutner - Katrina Hutton - Paul Huyer - Kathy Huynh - Ken Huynh - Tri Huynh - Shavon Hyatt - Karen Ilkanic - Richard Ingber - Iain Inglis - Khalid Iqbal - Mehar Irani - Sheroy Irani
William Irwin - Vazken Izakel - Leena-Kai Jaanimagi - Hiliary Jacko - Sheila Jacobs - Karen Jacobson - Anil Jain - John Jakolev - Muddaththir Jamal - Richard James - Kristen
Janke - Courtney Jardine - Michele Jarvis - Trevor Jaundoo - Christina Jazvac - Mark Jefferson - Andrew Jeffery - Robert Jenkins - Adam Jerusalim - Frank Jessop - Jennifer
Jessop - Lu Jiang - Edwin Jin - Sheng Jing - Jonathan Joffe - Adam Johnson - Claire Johnson - Lesley Johnson - Lisa Johnson - Terry Johnston - Derek Johnstone - Denise Jones
James Jones - Mike Joosten - Jennelyn Jorda - Melissa Joynt - Simon Jung - Viyaleta Kachan - Charmeen Kadir - Nora Kaethler - Mustafa Kagalwala Joanna Kalin - Paul Kalvaitis
Louis Kan - Kang Kang - Simon Kantor - Marius Kapedani - Dimitrios Karabatsos - Ivana Karac - Aleksandar Karamarkovic - Hemant Karamchandani - Helen Kareclas
Samayan Karim - Sina Karimzad - Georgios Karteros - Miky Kats - Elaha Kawa - Brian Keen - Grant Kehrli - Helena Keirstead - Christine Kelly - Michelle Kelly - Shawn Kelman
Michael Kelso - David Kennedy - Thomas Kerwin - Tom Kessler - Paul Keul - Nada Khan - Saleema Khan - Salman Khan - Rajveer Kharaud - Shukhrat Khomidov - Suman Khurana
Bhardwaj - Dongwook Kim - Edward Kim - Jang Kim - Jessica Kim - Kwang Kim - Daphne King - William King - Jacob Kingma - Jason Kinnear - Maegan Kipfer - Dennis Klander
Ioulia Kliachtornaia - Bradley Knauff - Michael Ko - Ronald Koehli - Derek Koening - Nicole Kogler - Sin Ying Kok - Jonathan Kooiman - Gitte Koopmans - Brent Koritko
Stephan Koscher - Erik Koudstaal - Tunde Kovacs - Reginald Kowalchuk - Wilma Kowalczyk - Alisha Kowalski - Mark Kowalski - Meredith Krangle - Monique Krempig - Martin
Kretzschmann - Jenna Krishnan - Joseph Krizmanic - Miles Krochmalnek - Henry Kroeker - Kyle Kroeker - Karmen Krueger - Andrew Krupowicz - Ha Young Ku - Sandra Kuepfer
Jay Kukreja - Sean Kulik - Rahki Kumar - Anil Kumra - Michal Kuratczyk - Jaclyn Kwan - Samuel Kwok - Alexander Kwong - Kathryn Kyle - Steven Labrecque - Jessica Lacey
Geremie Lacroix - Damian Laflamme - Amie Lafrance - Alex Lai - Fontaine Lai - Joanne Lai - Katrina Lake - Ana Lakovic - Shahnaz Lallani - Christine Lalonde - Ginny Lam - Peter
Lam - Patrick Lam Po Yuen - Derek Lamb - Kevin Lambert - Sylvain Lamontagne - Sheryl Lynn Lane - Thomas Lanoue - Celine Lanthier-Chayer - Christopher Lapointe - Joshua
Laporte - Mike Laramee - Kyle Larkman - Philippe Larocque - Albert Lau - Ngok Lau - John Laurie - Colleen Lauzon - Jocelyne Lavoie - Janey Law - Mandy Law - Arthur
Lawrence - Kevin Lawrence - Stuart Lawton - Christopher Lazarz - Jeffrey LeBlanc - Dominique Lecocq - Christophe Leduc - Alex Lee - Caitlin Lee - Dana Lee - Harold Lee - Julie
Lee - Kan Lee - Kent Lee - Sung Lee - Vinki Lee - Christie Leeder - Andrew Lees - Claude Lefebvre - Han Lei - Marc Lelievre - Peter Lennox - Robert Leombruno - Jaime Lerman
Carman Leung - Edric Leung - Fiona Leung - Howard Leung - Judy Leung - Jeffrey Levy - David Lewis - Jeffrey Lewis - Tyler Lewis - Christopher Li - Jenny Li - Na Li - Rachel Li
Zhuofan Li - Alexander Liang - Yuwei Liang - Robyn Libin - Li Yen Lim - Justin Limpright - Bonita Lin - Choy Men Lin - Choy Ying Lin - Dan Lin - David Lin - Mee Fung Lin - Russ
Lindsay - Mark Lister - Kaitlin Litke - Angel Liu - Lucy Liu - Xingyu Liu - Yang Liu - Yayi Liu - Joyanne Lizotte - Anna Ljulj - Dennis Logan - Elizabeth Logic - Katarina Loncar
Sandra Long - Michael Lopez - Giuseppe Lopresti - Maria Loschiavo - Jia Lou - Leo Lou - Paul Loughran - Henry Louis - Philip Love - Sharon Lovett - Jesse Lowe - Ruonan Lu
Timothy Luey - Lesley Luk - Christopher Lukas - Cherie Lun - Xiaorong Luo - Heather Ly - Linda Ly - Mi Ly - Emma Lyndon - Gary Ma - Jennifer Ma - Loretta Ma - Marion Ma
Stephen Ma - Katherine Macarthur - Malcolm Macaulay - Georgette MacDonald - Johanna MacDonald - Malcolm Macdonald - Rita MacDonald - Aleksandra Macevic - Christopher
Mackay - Barb MacMillan - Heather MacPherson - Amy Macri - Christina Madolciu - Joanne Magee - Gurdeep Mahay - Suresh Maheshwari - Tara Mahon - Stephanie Mahoney
Kenneth Maiden - Kevin Maier - Rahul Maingi - Lindsay Mains - Daniel Maksymchak - Hira Malik - Kashif Malik - Eric Mallory - Kevin Malott - Gular Mammadova - Jasbir Mandla
Lauriana Mandody - Yeshi Mane - James Mangubat - Jagdeep Mann - Leslie Manzano - Roman Marants - Lori Marcotte - Steven Mariani - Massimo Marinelli - Leslie Markow
Tracy Marshall - Christopher Marta - Arlene Martin - Timothy Martin - Cheryl Martin-Gray - Melissa Marvyn - Emanuel Mascoll - Michael Massoud - Mary-Jane Mastrandrea
Justin Mastrangelo - Tarunjeet Matharoo - Donna Mathies - Radhika Mathur - Pauline Matienzo - Michael Matthew - Heather Matthies - Lee Mattice - Whitney Mayfield
Lisa Mayhew - Christina Mazzoccoli - James McAloney - Chad McCleave - Susan McCloy - Kathleen McColskey - Matthew McCormick - Melanie McCullagh - Scott McCullough
William McDermott - Ian McDonnell - Melissa McDonnell - Daniel McEathron - Thomas McElroy - Christopher McFetridge - Heather McGeorge - Janna McGill - Sarah McGinty
Carol McGran - Kathleen McGrath - Patricia McGrath - Nicholas McInnis - Iain McIntosh - Candace McIver - Matthew McKeever - Donald McKinnon
Jeffrey McLean - Marissa McLean - Heidi McLeod - Takuma McNie - Catherine McPhee - Michael McRae - David McWhirter - Stephen Meade - Jason Medeiros - Ahmed Meer
Rohan Menon - Jessica-Lea Mercer - Mufazzal Merchant - Nicholas Merkley - Brett Merriman - Kelsey Meyers - Mayer Michalowicz - Andrew Mifsud - Karl Mikelsons - David Millette
Robert Millman - Jacob Milosek - Daniel Minnesma - Laura Mirabella - Denise Miron - Megan Mistry - Erin Mitchell - Jamie Mitchell - Julie Mitchell - Krystal Mitrow - Olga Mitsuk
Sally Mitzel - Christopher Mlinaric - Steven Mlotek - Hong Mo - Rajiv Modi - Lloyd Mogul - Volodymyr Moisyeykin - Judy Mok - Melanie Mol - William Molson - Joanne Monette
Erica Mongiat - Linda Montpetit - Aparna Mookerjea - Kishan Mooljee - Judith Moore - Ron Moore - William Moore - Rehana Moosa - Ahmed Moostafa - Alenna Morresi
Kathleen Morrin - Graeme Morrissey - Christine Morrow - Eldon Moses - Lorne Motton - Michael Moyer - Jacqueline Mulligan - Ronald Mulligan - Uzair Mumtaz - Ian Murphy
Nora Murrant - Edward Nagel - Sooyeoung Nahm - Alan Naiman - Deepa Narula - Firas Nasser - Nancy Nassif - Matthew Nault - Melvyn Need - Edward Nehme
Jeffrey Neill - Timothy Nelles - Rick Nero - Victoria Nesbitt - Gregory New - Kristen Newell - Edward Ng - Essence Ng - Valerie Ng Cheong Tin - William Nghiem - Christy Ngo
Viet Nguyen - Loredana Nicolescu - Tracy Nikolasevic - Tony Nikolovski - Nitty Nirthanarajah - Ji-Yong Noh - Andrei Nye - David Nyklicek - Michael Oakes - Kristine Obritsch
Amy O'Connor - Jeffrey Oestreicher - Roy Ohm - Douglas O'Keefe - Shawn Oldridge - April O'Neill - Ryan O'Neill - Mitchell Ornstein - Benjamin Osher - Jorge Ospina - Ryan
O'Sullivan - Jo-Anne Oswald - Kumiko Ota - Joanne Otterspoor - Brittany Owens - Tyler Packham - Michael Pajek - Daniel Palmateer - Diane Pang - Hui Ting Pang - Tom Pang
Irene Papadopoulos - Oxana                                                                                                                        Papanova - Steven Parisi - Philip
Parkinson - Wendy Paroyan - Jill                                                                                                                  Parsonage - Blain Parsons - Rajit
Paruchuri - Amish Patel - Dipesh                                                                                                                  Patel - Maliha Patel - Nikhil Patel
Rakesh Patel - Ritesh Patel -
Antonietta Pavia - Boris Pavlin -           Will your name be here in 2011?                                                                       Suraj Patel - Denham Patterson
                                                                                                                                                  Harsimran Pawar - Konrad Pawlak
Diane Paxton - Stephanie Payetta                                                                                                                  Marie Josee Payette - Victor Pazos
Maureen      Peacock     -    Allison                                                                                                             Peacocke     -   Heather     Pearce
Melissa Peavoy - Melanie Peckham - Thomas Peckham - Ashley Marie Pelletier - Katerina Pencheva - Lezhi Peng - Sandie Perone - Sophia Perrelli - Jordan Perri - Scott Pettipiere
Domenica Pezzente - Bradley Philip - Leonard Phillips - Michael Piccolo - Christopher Piel - Christopher Pierce - Eva Pietrucha - Bartosz Pietrusiewicz - Sean Pilgrim Robin Pilkey
Marc Pilon - Ken Pinder - Marina Pineda - Michael Pinnock - Thomas Pippy - Claudio Piron - Richard Piticco - Jawed Piyarali - Monica Pizon - Carole Plourde - Joel Podbere
Andrew Poechman - Sabrina Polletti - Jamie Pollock - Mike Pook - Sarah Poole - Katy Poon - Matthew Poon - Paul Poon - Tomasz Popiel - Petya Popova - Randolph Post
Darren Potter - Elyse Power - Lauren Pratile - Robert Preisz - Lisa Price - Diana Provenzano - Christina Psotka - Amit Puri - Ferooz Qader - Hani Qadri - Hamid Qaheri - Stacey
Quesnel Sarwar Qureshi - Tatiana Rabinovitch - Troy Rachkowski - Bryan Radeczy - Kalina Radenkova - Barb Radford - Donald Radley - Monique Raheb - Kuljit Rai - Melissa
Rajaram - Nithiya Rajendran - Priti Rajwani - Ed Ramsay - Martin Rancourt - Anshul Rao - Lorne Rapkin - Vincent Raso - Matthew Raynier - Norman Read - Scott Redden
Michael Paul Reinsoo - Adam Reiterowski - Craig Reith - Henry Remiz - Marc Renaud - Carmelia Restivo - Mandeep Riar - Lisa Ricci - Girolamo Riccio - Ann Richards - Daniel
Richardson - Robert Ripley - Jennifer Ritchie - Anthony Rizzo - Paul Roberts - Andrea Robey - Peter Robic - Brent Robinson - Jason Robinson - Katie Robinson - Trent Robinson
Rosina Rocca - Alberto Rocha - Larissa Rocher - Charles Roden - Alain Rodrigue - Joshua Rodrigues - Carlo Rodriguez - Dianne Romano - Scott Rosborough - David Rose
Michael Roseman Claudia Rosianu - Vadim Rosohatski - Shawn Roussy - Meghan Roy - Lindsay Royston - Trina Rubino - Elan Rubinski - Michael Rudanycz - Joel Rumney
Valerie Rusk - Mary Russo - Anna Ruta - Kimberley Rutherford - Jeremy Rutke - David Ryde - Yelena Sahakyan - Ana Sainz - Nida Sajid - Karen Salij - Jody Salomon
Henry Salomons - Matthew Sanders - Karndeep Sandhu - Ryan Sanger - Renee Santerre - David Sapira - Ali Saqib - Emma Sarkisyan - Razik Sarsam - Angie Savard - Michael
Saxe - John Scali Antonio Scandinavo - Andrea Schaefer - Samuel Schaffran - Matthew Schappert - Aaron Schechter - Maureen Schenck - John Schmidt - William Schmidt
Jean Schnob - Albert Schoeley - Carol Schoeps - Mark Schonewille - Julian Schonfeldt - Lauren Schreiber - Lucas Schubert - Karl Schuett - Marcus Sconci - Chris Scotland
Clayton Scott - Michael Scott - Suzanne Scott - Linda Scott Campbell - Alison Scratch - Scott Seaman - Gordon Sedgwick - David Seguin - Varun Sehgal - Ralph Selby
Leora Selesnick - Benveen Selvanayakam - Suchorita Sen - Evita Sendsen - Mark Seneviratne - Junyoung Seo - Brent Serson - Amit Seth - John Severin - Todd Shaddick
Archana Shah - Reena Shah - Aisha Shahab - Zeeshan Shahid - Salim Shajani - Christopher Shalhoub - Andrew Shannon - Adeeb Sharif - Brij Sharma - Abdul Sheik - Khlood
Sheikh - Lisa Shelton Jing Shen - Matin Sherdel - Moshin Sheri - Garrick Sherman - Amar Sheth - Vincent Shiao - Kang Cha Shim - Christopher Shiu Vong Sien - Dhruv Shukla
Kimberly Shum - Evgenia Shvetsova - Jerome Silverberg - Megan Sim - Michele Simmons - Jeffrey Simonetti - Mirjana Simonovski - Chelsea Simpson - Cheryl Sinclair - Roderick
Sinclair - Stephanie Sinclair - Onkar Singh - Ryan Singh - Daniel Sinopoli - Colin Sirr - Garry Siu - Kimberly Siu - Siva Sivanathian - Anthony Siybauco - Andrew Skujins - Alanna
Sleep - Stephanie Sloan - Bradley Smith - Eric Smith - George Smith - Gerry Smith - Ian Smith - Joshua Smith - Ronald Smith - Steven Smith - Tristan Smith - Trudy Snooks
Delores Socha - Jennifer Soetemans - Calvin Soni - Eisha Sood - Scott Sorenson - Patrick Sparks - Brenda Spence - Courtney Spencer - Stewart Spiers - Christopher Spina
Barbara Spratley - James Spray - Archana Srijeyanathan - Craig St. Germain - Megan St. Jacques - Michelle St. Martin - Nicole St. Pierre - Gem St.Omer - Alan Stackle
Natalia Stefou - Devin Stem - Andriy Stepanyants - Christopher Stephan - George Stephenson - Christopher Stevens - Kevin Stienstra - Paul Stinchcombe - Hristina Stojanovska
Jay Storeshaw - Christine Storoschuk - Keely Storr - Andrea Stupino - Alyssa Stuppiello - Darren Sullivan - Mujgan Sultani - Houhua Sun - Wendy Sun - Cathy Sutherland
Darren Sutherland - Ronald Sutherland - Kari Swarbrick - Matthew Swindley - Hina Syeda - Bryan Sykes - Reena Szeto - Simon Szeto - Isabella Szuta - Terece Tai - Alvin Tam
Erica Tam - Jade Tam - Karen Tam - Mandy Tam - Tuck Loong Tam - Bonnie Tan - Amanda Tang - Henry Tang - John Tang - Antoinette Tari - Raffaele Tassone - Brian Taylor
Christopher Taylor - Lori Taylor - Patrick Taylor - Nicole Teichgraf - Shamsuddin Tejani - Deborah Teplinsky - Carey Tepperman - Jack Tepperman - Michelle Tessier - Mona Tessier
Lee Tessmer - Sophia Thai - Mayuran Tharmabalan - Jocelyne Thibault - Patrick Thibert - Prabjot Thind - Kevin Thomas - Korah Thomas - Peter Thomas - William Thomas
Bruce Thompson - Josephine Thong - Michelle Thornton - Kevin Tippett - Malithi Tissera - Lawrence Tjan - Nicholas To - Alison Todd - Anthony Tomacic - Eric Tomlinson
Sophia Tomory - Robert Tonin - Oscar Torres Caro - Francois Toulouse - Jane Tran - Andrea Treier - Mark Trenholm - Renzo Trinca - Judy Trinh - Deborah Tropea - David Truong
Katarzyna Trzaski - Jesua Tsai - Wai Tsai - Gloria Tsang - Michael Tsao - Ka-Hee Tsui - Timothy Tsung - Jonathan Tucker - Christopher Tuckett - Ryan Tummon - Mathew Tung
Charlotte Tunikaitis - Susan Tunstall - Ling Tuo - Brittany Turley - David Turnbull - Brian Turner - Derek Turner - Ross Turner - John Tutecky - Christine Tworo - Daniel Tworzewski
Louise Tymocko - Yuriy Tyshchuk - Jason Ubeika - Albert Ullrich - Rhonda Umbach - Senthooran Uruthiralingam - Simon Utkala - Krish Vadivale - Samir Vahora
Pierre Vaillancourt - Lydia Vale - Melissa Van Alstine - Jeffrey Van Kessel - Alicia Vance - Maureen Vance - Sarah Vanderburg - Mark Varma - Kevin Veenstra - Jonathan Veldstra
Jayashree Venkatesh - Lisa Ventola - Matthew Ventresca - Julie Vespi - Paul Vet - Paul Vettoretti - Daniela Videla - Nicole Vieira - Shelley Vinayak - Kishan Vipul - Jordan Vogel
John Vogiatjis - Diana Vona - John Voorpostel - Alan Vosburg - Zoran Vranjkovic - Brendan Vu - Ainslie Waghorn - Angie Wai - Paul Walcott - Harvey Walden - Tom Wallace
Caryn Walt - Christine Walter - Michael Walters - Katherine Wan - Yulena Wan - Bei Wang - Cecilia Wang - Han Wang - Lin Wang - Xiaoshu Wang - Chen Wanjun - Jennifer Ward
Jeffery Warford - Mohamed Warmahaye - Daniel Warren - Stephen Warren - Sarah Warrington - Kerry Washer - Jillian Watson - Timothy Watson - Zachary Waxman
Nicholas Weber - Julie Weddel - Tyler Wegman - Gail Weiler - Mark Weiman - Jin Wen - Victorio Wen Shea - Ian Weng - Derek West - Dianne White - Paul White - Sam Whittaker
Martin Wickins - Alexander Wiens - Ashley Wilcox - Steven Wilkinson - Heather Willems - Michelle Williams - Bradley Williamson - Diane Williamson - Daniel Willmann
Cindy Wilson - Kody Wilson - Laura Wilson - Ryan Wilson - Justin Winchiu - Douglas Winter - Michael Winter - John Wipprecht - Jay Wismer - Christopher Witzel
Amanda Wolfs - John Wonfor - Anthony Wong - Benita Wong - Carmen Wong - Jenny Wong - Kenneth Wong - Lawrence Wong - Samuel Wong - Vivian Wong - Simon Worgan
Ewa Wozniak - Christina Wright - Gregory Wright - Heather Wright - Katrina Wright - Richard Wright - Christina Wu - Yiping Wu - Thomas Wylie - Kelly Wyner - Jessica Wyse
Yuan Xi - William Xiang - Timothy Yamashiro - Janet Yan - Dannese Yang - Qida Yang - Vianna Yau - Janice Yee - Stephanie Yee - Caroline Yeo - Peter Yeung - Rosemarie Yeung
Vincent Yeung - Dong Yi - Mandy Yiu - Gang Min Yoo - Yvonne You - Hae Jin Yu - Jonathan Yu - Samantha Yu - Yang Yu - Christina Yuen - Karen Yuen - Rhoda Yuen - Cecilia Yung
Oleksandra Zabroda - Andre Zaher - Bassem Zahili - Melissa Zambri - Diana Zampini - Peter Zanick - Diane Zantingh - Katherine Zanutto - Amanda Zeffiro - Anne Zhang
Henry      Zhang - Wei Zhang - Ying Ping Zhang - Jerry Zhao - Anni Zhu - Bei Zhu - Marta Zientarski - Emily Zoula - Andrew Zucker - David Zwambag
Career	Information
                                                                                                                                         Mona Ghiami, CA
                                                                                                                                         Director of Career Information

Enhancements to Rule the World student                                                                                         new conference: Chartered for Finance
recruitment campaign                                                                                                           On January 14, 2011, the Career Information team will
                                                                                                                               hold a new conference called Chartered for Finance. The
Over the summer, the Institute’s Rule the World student
                                                                                                                               conference, which is being held at the Royal York Hotel in
recruitment website was updated and given a brand new
                                                                                                                               Toronto, targets students who are unsure if they want to work
look. Check it out at: The
                                                                                                                               in accounting or finance.
Practical Guide to Ruling the World booklet, which is used
at all high school and university events, was also redone.
                                                                                                                               Chartered Accountants working in the world of finance will
It includes new CA profiles from Nike, Royal Bank of
                                                                                                                               be in attendance to help educate students, and explain why
Canada, Tim Hortons and investigative forensic accounting
                                                                                                                               they became CAs before entering their current fields. The
firm Wintrip Wolkoff Shin Inc. Another new aspect of the
                                                                                                                               day will consist of roundtable discussions, workshops and
campaign is the use of Quick Response (QR) codes. Smart-
                                                                                                                               networking sessions. The keynote speaker will be Loren
phone users can download a program that allows them to
                                                                                                                               Francis, CA, MBA, who is the Vice President of the Private
scan codes and automatically be taken directly to a given
                                                                                                                               Client Group at Barometer Capital Management Inc.
website. Thank you to all of the CAs and CA Students who
are part of our campaign!
                                                                                                                               Approximately 120 university students from across Ontario
                                                                                                                               will be selected to attend. Interested students should apply
                                                                                CAs                                            online by December 3, 2010 at: www.guidetorulingtheworld.
                                                                            ARE THE                                            ca/CharteredForFinance.
                                                                             OF THE                                            Associate Students can Rule the tube
                                                                             WORLD                                             High school or university students who are part of the
                                                                                                                               Institute’s Associate Student Program can demonstrate
                                                                                                                               why they think being a CA rocks by creating a YouTube
                                                                                                                               video. It’s all part of the new Rule the Tube – the CA Video

                                                                                                This year’s student            Official competition rules and a sample YouTube video can
                                                                                                recruitment campaign
                                                                                                includes several posters,
                                                                                                                               be found at:
                                                                                                including this one featuring   The entry deadline was November 7, 2010. Finalists have
                                                                                                Ian Clarke, CA, EVP and        been chosen and the voting period goes until November 26,
                                                                                                CFO, Business Development
 EVP and CFO, Business Development
                                                                                                                               2010. To check out the finalists and vote for your favourite
                                                                                                at Maple Leaf Sports &
 Maple Leaf Sports & Entertainment Ltd.

                 GET THE FULL STORY AT:
                 It’s called a QR Code and it tells your Smartphone
                 what web page to visit. You can download a QR
                 Code reader for free at sites like
                                                                                                Entertainment Ltd.             video, go to:

32                                                                    CheckMark • Autumn 2010
ICAO Board of Associates help plan                                University Associate Students as well as to a small group
                                                                  who have already completed some of their qualifying
Institute’s campus strategy                                       experience.

On August 30, 40 of the brightest and best students from
across the province arrived at the Institute for the second       Looking to hire? Visit the Resumé Portal
meeting of the 2010-11 ICAO Board of Associates (BoA).            to view CA Student & university Associate
The BoA is made up of pre-selected university students
from 22 campuses across Ontario, who act in an advisory           Student resumés
and advocacy capacity for the CA profession.
                                                                  The Resumé Portal was created to help connect our CA
Members of the Board of Associates are responsible for            Training Offices (CATOs) with CA Students and University
publicizing and participating in CA-related events on             Associate Students who are interested in employment.
campus and promoting the Institute’s Associate Student
Program. At the day-long meeting, staff from the Learning         We expect this portal to be particularly helpful for the small
Stream discussed the campus strategy for the upcoming             and medium size CATOs in their student recruitment efforts.
year and updated participants on the profession’s CA              The CATOs will be able to connect with students from all
Training Offices. In turn, the BoA offered tremendous insight     regions in Ontario, as the Resumé Portal is designed to
into what motivates today’s university students and what          search for CA students by the candidate’s preferred location
particularly attracts them to the CA profession.                  of employment.

                                                                  All resumés can be accessed through the secure area of the
An easy way for CA training Offices to fill                       CA Firms page on the Institute’s website at
student positions                                       

If you are a CA Training Office looking to fill a position that   For more information on CA Student Job Postings or the
will count towards the CA Student practical experience            Resumé Portal, please contact Rizelle de Ocampo, Career
requirement, why not post your job description on the             Information Coordinator, by telephone at 416-969-4203
Institute’s CA Student Job Postings website? This free            or toll free at 1-800-387-0735, ext. 203 or by e-mail at
service will advertise your job opportunity to over 1,000 Good luck with your search!

                                            » INNOVATIVE » CONNECTED » COLLABORATIVE
                                            » EXPERT FACULTY » DOWNTOWN TORONTO CLASSROOM

                                           accelerate your tax career
                                           Become a highly-valued member of the Canadian tax community.
                                           Join Canada’s most comprehensive english-speaking program
                                           for the development of tax professionals.

                                                         learn » develop » experience…the MTax advantage



                                                                                           CheckMark • Autumn 2010            33
                                                  the Pinnacle of Our Profession

Over several issues, CheckMark is profiling each of            to human vaccines. A CA since 1981, Mark was named
Ontario’s newest FCAs, elected in 2009. We salute these        a Chevalier de l’Ordre National de Merite (a Knight of the
members for their outstanding career achievements              National Order of Merit) in 2007 by the French government
and leadership contributions to the community and the          for his work promoting biotechnology co-operation between
profession.                                                    Canada and France. In 2002, he received The Queen
                                                               Elizabeth II Golden Jubilee Medal awarded to Canadians
                                                               who have helped shape Canada and set the path for a
Denis R.J. Lemieux, FCA                                        better country in the future.

A CA since 1977, Denis Lemieux recently retired from the
position of Managing Partner for Ernst & Young LLP in          John B. MacIntyre, FCA
Southwestern Ontario and Vice-Chairman of Ernst & Young
Orenda Corporate Finance, one of the leading merger and        As a founder and Managing Partner of Birch Hill Equity
acquisitions practices in Canada. Throughout his career, he    Partners Management Inc., John MacIntyre co-leads one
has contributed his time to many causes in his community,      of Canada’s top private equity firms with $1.7 billion under
including serving as one of the founders and a member          management and 21 partner companies. A CA since 1980,
of the Board and Executive Committee of the London             he sits on numerous boards, including the Advisory Board
Enterprise Development Corporation, and as a member            for TD Capital and the Board of Directors of the Canadian
of the Board/Executive of VON, St. Joseph’s Hospital           Venture Capital & Private Equity Association. John is
and MS Society. Under his leadership, the Ernst & Young        also Chair of the Board of Directors of Wellspring, which
Southwestern Ontario group recently financed the building      provides free cancer support, education and coping skills
of a Habitat for Humanity home in Kitchener.                   to individuals, family members and professional caregivers,
                                                               and is Chair of the Investment Committee of the Toronto
                                                               Community Foundation. Because of his strong interest
Valorie M. Leonard, FCA                                        in promoting microfinancing in poorer nations, John has
                                                               served as a Director with both the Calmeadow Foundation
Valorie Leonard is a Full Professor in the Faculty of          and the AfriCap Microfinance Investment Fund.
Management at Laurentian University, where she is
Chair of the Accounting Department. Having achieved
her CA in 1981, she has done much over the years to            Mary Lou Maher, FCA
guide young people into the profession. In addition to
her work at Laurentian, she has been very involved with        Mary Lou Maher is the Chief Financial Officer of KPMG LLP.
the Ontario Institute, serving as Seminar Leader with the      She is also a member of KPMG’s Management Committee
School of Accountancy every year since 1989, and acting        and served as the firm’s Chief Human Resources Officer. A
as a facilitator and instructor at the Northern Ontario CKE    Chartered Accountant since 1985, Mary Lou was awarded
Prep Program. She has also been actively involved in the       with the Top 100 Most Powerful Women honour for the
development of accounting educational material as both         professional category by the Women’s Executive Network
an author and reviewer for the Institute as well as textbook   in 2006. In 2005, she was recognized as a Trail Blazer
publishers.                                                    by CAmagazine. She is also a Mentor in the Mentoring
                                                               Partnership program for new immigrants and in the Women’s
                                                               Network Mentoring program, and is on the President’s
J. Mark Lievonen, FCA                                          Council for St. Michael’s Hospital. Mary Lou serves on the
                                                               Institute’s Council as Executive Member-at-Large.
Mark Lievonen is President of Sanofi Pasteur Limited, a
leading Canadian company in the field of researching,
developing and manufacturing life-saving vaccines. Sanofi
Pasteur is the vaccines division of sanofi-aventis Group
and is the largest company in the world devoted entirely

34         CheckMark • Autumn 2010
Helen M. Mallovy Hicks, FCA                                      Life Financial of Canada in Hong Kong, as an Executive
                                                                 Vice-President of Aviva Insurance Company, as the Chief
A Partner with PricewaterhouseCoopers LLP in the                 Financial Officer of the Insurance Corporation of British
Transactions practice, Helen Mallovy Hicks has been a            Columbia and as the Chief Auditor at North American Life
CA since 1985 and a Chartered Business Valuator since            Insurance Company (now part of Manulife). Isabel is a
2002. She is a member of the PwC Transactions Leadership         frequent speaker and panelist at financial and governance
Team and leads the National Fairness Opinion practice. As        conferences and meetings. She is a faculty member of
National Advisory Leader for PwC’s Women in Leadership           Director’s College in Niagara-on-the-Lake and has served
initiative – aimed at recruiting, retaining and promoting more   as an instructor at several academic institutions. She is
female CAs – she has championed the role of women in the         also a member of the Board of Directors and Chair of
profession. She also serves as Treasurer and Member of           the Audit Committee of Infrastructure Ontario. Active in
the Board of Directors of the Toronto Symphony Orchestra,        her community, Isabel serves on the Board of Directors
is the Chair of the Finance and Audit Committee, and is a        and as Chair of the Audit Committee of Kerry’s Place
member of the Board of Trustees of the Toronto Symphony          Autism Services and sits on the Board of Directors of the
Foundation. Recently, Helen was elected to the Board of          Scarborough General Hospital.
Directors of PricewaterhouseCoopers LLP.

                                                                 Kenneth A. Miller, FCA
James R. McCarter, FCA
                                                                 A retired Executive Partner with the firm Gaviller & Company
Appointed Auditor General of Ontario by the provincial           LLP, Ken Miller arrived at the firm shortly after he became
Legislature in December 2004, Jim McCarter and his               a CA in 1976 and, over the course of his career, served
independent office assist the Legislature in holding the         as a member and Chair of all of the firm’s committees. He
government accountable for the stewardship of public             has supported the profession in many ways over the years,
funds and for the achievement of value for money in              including serving on the Institute’s Municipal Accounting
government and public-sector operations. A CA since 1977,        and Auditing Committee and acting as a part-time Practice
Jim has served as a member of the Institute’s Professional       Inspector. Active in his community, Ken was President of the
Conduct Committee, and as Chair of the Members in                Wasaga Beach Rotary Club, a Board Member and President
the Public Sector Committee. He is also currently on the         with the Collingwood Chamber of Commerce, and a charter
CICA’s Government Transfers Task Force. He is one of two         member of the Blue Mountain Weightlifting Club.
Canadian public representatives serving on the Canadian
Institute of Actuaries’ Professional Conduct Committee.
                                                                 Rodney G. Monette, FCA

Dianne L. McMullen, FCA                                          Rod Monette was a Deputy Minister and Assistant Deputy
                                                                 Minister for 17 of his 28 years in the Federal Public Service.
Dianne McMullen is the Tax Business Line Leader for the          His last two appointments were as Comptroller General of
Large Market Region of BDO Canada LLP. She served on             Canada and Associate Deputy Minister of National Defence.
the firm's Policy Board from 2003 to 2009. A Chartered           He is now an associate with Rawson Group Initiatives
Accountant since 1985, Dianne has been involved in               in Ottawa. A CA since 1981, Rod began his career with
Ontario Institute activities for a number of years. She served   Clarkson Gordon. He is an author and a musician, recently
on the Institute's Professional Conduct Committee from 2005      publishing Road Worthy – Life Perspectives by Motorcycle,
to 2008; was a member of the Examinations Committee from         about his motorcycle travels through North America.
1995 to 1998; and was a member of Council from 2008 to
2010, serving as the Membership Committee Chair from
2009 to 2010. Dianne was also an instructor at the Institute's   Gary E. Moulton, FCA
School of Accountancy from 1990 to 1992. Dianne is the
past editor of the Tax Department of CAmagazine.                 Gary Moulton is a Senior Vice President in Deloitte’s
                                                                 Forensic and Dispute Services practice in the GTA. Gary
                                                                 was involved in the development of the firm’s forensic
Isabel Meharry, FCA                                              practice in Canada and globally, serving as the Canadian
                                                                 Partner on Deloitte’s Global Fraud Services Directorate and
A member of the Institute’s Council, Isabel Meharry is Vice-     as the Partner in charge of the GTA forensic practice. First
President, Finance, Secretary Treasurer and Chief Financial      achieving his CA in Nova Scotia in 1981 and becoming
Officer for Green Shield Canada, which specializes in            an Ontario Institute member in 1982, he served as the
group and individual health and dental programs and              Chairman of the Board of the CICA’s Alliance for Excellence
administration. A CA since 1980, Isabel has more than 25         in Investigative and Forensic Accounting (IFA Alliance)
years’ experience in senior financial and operating roles.       and helped develop and implement the educational and
Prior to joining Green Shield Canada, she held the position      communications programs and professional standards
of President and Chief Executive Officer of Financial            for IFA practitioners. Gary helped develop modules for
Executives International Canada. She has also served as          the graduate-level Diploma in Investigative and Forensic
the Executive Consultant to the Chairman and CEO of Sun          Accounting program offered by the University of Toronto.

                                                                                          CheckMark • Autumn 2010           35
2010 new Life members
Each fall, the Council elects Life Members in accordance with the provisions of Bylaw 304. Heartiest congratulations are
extended to the following 319 new Life Members.

ACKERMANN, Michael Arlen, Belleville             CLAYDEN, Peter Joseph, Sechelt, BC         GRANT, Peter David, Mississauga
ADORANTE, Gabriel Joseph, Woodbridge             CLUTTERBUCK, James Ernest, Kitchener       GRAY, Bruce William, Willowdale
ALEXANDER, Kenneth Paul, Oakville                COOK, Anthony Hermon, Alcove, QC           GRAY, Carol Ann, Willowdale
ALLEN, Anthony George Edward, Collingwood        COOPER, Geoffrey Wilfrid, Carleton Place   GRAY, James Mckinnon, Thunder Bay
AMIN, Jitendra, Sorel-Tracy, QC                  COURTNEY, Norman Paul, Kitchener           GRAY, Ronald Edward, Scarborough
ANDERSON, Delmer Lynn, Oakville                  COWAN, Arnold Bernard, Richmond Hill       GUIGNION, Raymond Leeman, Willowdale
ANDERSON, Thomas John, Thornhill                 CRAIG, Ian Wilson, West Hill               GUMBS, Crispin Mcallister, Mississauga
ASHLEY, David Sidney, Unionville                 CRONKWRIGHT, Jack Elgin, Port Dover        HACKETT, Kenneth John, London
ATKINSON, Robert William, Toronto                DAVIDSON, Douglas Alexander, Whitby        HALL, Bruce Alan, Ennismore
BABENSEE, Robert William, Toronto                DAVIES, Gwyn, LaSalle                      HALPREN, Murray Roger, Dundas
BAINES, Robert Francis, Toronto                  DEAN, Alan W., Mansfield                   HAMILTON HARDING, Robin Alexander,
BAKKER, John William, Dundas                     DI LELLA, Michael Patrick, Mississauga          Pointe Claire, QC
BALDWIN, John Edward Hayman, Ottawa              DICK, Gerald Roy, Mississauga              HARVEY, Carl George Alexander, Peterborough
BANCROFT, William Marler, Provo, UT, USA         DILWORTH, Robert Francis, Ancaster         HASLETT, Richard Stuart, Ottawa
BARLTROP, Christopher Spencer, Toronto           DOHERTY, Robert Frank, Milton              HATCH, John Clifford, St. Clair Beach
BARLTROP, Edythe Joan, Etobicoke                 DONOVAN, Denis Peter, Toronto              HAYES, Darrel Arthur, Oakville
BATSON, Ross, London                             DRAKE, Thomas Winston, Kitchener           HEALE, Douglas Gordon, Nepean
BAZELEY, Donald Harpur, Floreat, WA, Australia   DUCKMAN, Lloyd Paul, Toronto               HESTER, Richard George, Canmore, AB
BERNARD, Samuel Irving, Montreal, QC             DUGGAN, John Philip, Toronto               HETHERINGTON, Harold Russell, Toronto
BLITSTEIN, Ronald, Toronto                       DUNLOP, Paul Bruce, Don Mills              HODGIN, John Robert, Sarnia
BOIDMAN, Nathan, Westmount, QC                   EADES, Kenneth Gary, Calgary, AB           HODGINS, Robert Hugh, Barrie
BOYD, Robert Edward, Oakville                    EBY, Thomas Glynn, Toronto                 HOGAN, William John Michael, Haileybury
BREBNER, Michael John, Mississauga               EISENBERG, Robert David, Willowdale        HOWARD, John Richard, Mississauga
BRISTOW, James Cameron, London                   ELLARD, Desmond Francis, Sechelt, BC       HOWEY, David Ross, Waterloo
BROWN, Francis Robert, Mississauga               ELLIOTT, George Albert, Collingwood        HOWLETT, William Morris, Islington
BROWN, Robert Charles Alfred, Burlington         ENNS, Harry Victor, Kingsville             HUBLEY, Norman Sinclair, Toronto
BROWN, Robert Murray, Dundas                     EPSTEIN, Gerald, Concord                   HUDSON, David Fenwick, London
BUETOW, Bernhard Gerhard Max, Ottawa             FAGE, Richard Winston, Ottawa              HUFFMAN, Murray Ross, Burlington
BULLOCH, Donald Victor, Dashwood                 FARRAR, Richard John Piercy, Etobicoke     HUGHES, Andrew Bethel, North Lancaster
BURKE, Raymond Brian, Nepean                     FERGUSON, James Peter, Windsor             HUNNISETT, Heather Marie, Mississauga
BURROWS, Gerald Lindsay, Priddis, AB             FERGUSON, William Bruce, Waubaushene       HUTCHINSON, Frederick George,
BURTON, James William, Etobicoke                 FINDLAY, John Michael, Kanata                   Beaconsfield, QC
CADDO, Donald Russell Charles, Thunder Bay       FINLAY, David Copland, Calgary, AB         INGLIS, Allan Stevenson, Novi, MI, USA
CADSBY, Howard Leonard, Richmond Hill            FINNIE, William Morrison, Weston           ISAACSON, Joseph, D.N. Hanegev, Israel
CALAM, Alexander Bailey, Sault Ste. Marie        FITZGEORGE, James Clifton, London          IVANOVICK, Richard Robert, Cambridge
CALPIN, Martin, Don Mills                        FITZPATRICK, John James, Burlington        JACKETT, Donald James, Peterborough
CAMACHO, Michael Joseph, Alexandria              FOSTER, Bruce Claxton, Carlisle            JACOBS, Charles Edward, Mississauga
CAMPBELL, Colin, Hong Kong                       FRATTAROLI, Donald Ernest, Agincourt       JACOBS, Irvin I., Boynton Beach, FL, USA
CANTOR, Abraham Harvey, North York               FREEMAN, Harold Seymour, Toronto           JAMIESON, John Burns, Brookline, MA, USA
CARBERRY, Clinton Dale, Waterloo                 FRIEDMAN, Edward Lawrence, Maple           JANES, Thomas Gordon, Sarnia
CARTER, James Wesley, Toronto                    GAMAGE, Piyasena Dodampe, Windsor          JEFFREYS, Donald Edward, Toronto
CARTER, Michael Francis Kennedy, Toronto         GAMBLES, John Cordell, Scarborough         JORDAN, John Maurice, London
CEPLER, Leonard Marvin, North York               GARLAND, Harvey Roger, Toronto             JUDD, Godfrey Broumton, Wareham,
CHEVALIER, Joseph Raymond Ernest Gilles,         GEDDES, Ralph Dean Box, Carp                    Dorset, England
     Saint-Lambert, QC                           GELLATLY, Donald Murray, Toronto           JUDSON, Craig Leroy, Whitby
CHRISTENSEN, Carl Verner Martin, Toronto         GEORGE, David Edward, Kitchener            KEEN, Laurence Robert, Prescott
CHRISTIAN, Edward Barry, Bolton                  GODAWA, Stanley Ignatius John, Oshawa      KEENAN, Robert John, Etobicoke
CLARK, John Alan, Ajax                           GOLDENBERG, Carl Lionel, Willowdale        KELLY, Harry Michael, Holland Landing
CLARK, Spencer Humphrey, London                  GORSKY, Muriel, Hampstead, QC              KELLY, James Lloyd Robert, Owen Sound
CLAYDEN, Joseph, Surrey, BC                      GRAHAM, John Bryan, Toronto                KEMP-GEE, Alan Keith, West Vancouver, BC

36           CheckMark • Autumn 2010
KENNEDY, James Peter, London                  NORTON, David John, Agincourt                     SMITH, Frederick John, Oakville
KESTENBERG, Harvey, Willowdale                NOURSE, Robert Malcolm, Oakville                  SMITH, Harvey Howard, Oshawa
KHOKHAR, Khalid Mahmood, Markham              NUTTER, Thomas Brian, Burlington                  SMITH, Michael Alan, Burlington
KINNEAR, John Paul, Kingston                  OBERFELD, Leonard Joseph, Cote St. Luc, QC        SNELGROVE, Robert Douglas, Kitchener
KIRBY, Gerald Patrick, Carleton Place         OTTERMAN, James Fredrick, Victoria, BC            SNIDER, Meldon Hume, Toronto
KIRBY, Robert Stewart, Bridgetown, Barbados   PALMER, Frank W., Willowdale                      SNYDER, Stuart Irvin, Kitchener
KIZIAK, Raymond Reginald, Bolton              PARTON, Richard Joseph, Toronto                   SOLOMON, Stanley Joseph, Vaughan
KOKOTOW, Herbert Sorrell, Thornhill           PASQUILL, John Hilton, Don Mills                  SPENCE, John Michael, Fort Frances
KORMAN, Charles Isaac, Thornhill              PATEL, Hoshang Dinshaw, Brampton                  STAPLES, Robert Victor, Gananoque
KRISTENBRUN, Thomas Gustav, Toronto           PAUL, Arun Kumar, Beaconsfield, QC                STEIN, Stephen Arthur, Thornhill
LAFLAIR, Peter George, Toronto                PAWLIK, David Naster, Hamilton                    STEISS, Carl Frederick, Etobicoke
LAKRA, Homi, Richmond Hill                    PEARCE, Earl Robert, Calabogie                    STEWART, James Royal, London
LAMBERT, Edward Roy, Oakville                 PERLMAN, Malcolm Henry, Toronto                   SUTHERLAND, Murray Fraser, Brockville
LANDE, Eric Paul, Stowe, VT, USA              PERRY, Donald Howarth, Thunder Bay                SYMINGTON, James Richard, Thunder Bay
LARKIN, Peter Brian, Richmond Hill            PESKETT, Robert Edward, Perth                     TATE, David Michael, Sudbury
LAVINE, Ivan Lloyd, Toronto                   PETERSON, Eric Charles, Timmins                   TAUB, Bernard Mandell, Thornhill
LAWRENCE, Leonard Sydney, Hamilton            PETHICK, Paul Edwin, Minden                       TAY, Joo Kiak, Mississauga
LEGALLAIS, Randall William, St. Davids        PETTIT, Dale Alexander, London                    TAYLOR, David John, Thornhill
LEISHMAN, Kenneth Wayne, Aurora               PLODER, George Leo, Mississauga                   TERRY, Robert David, Brantford
LENNOX, Gary Brian, London                    POPERT, Wayne Ernest, Freelton                    THOMAS, Marvin Harold, Stratford
LEONARD, Gordon Lawrence, Oakville            PORTER, Kenneth Michael Lachlan, North York       THOMPSON, William Arthur, Lindsay
LESKEW, Paul Stephen, Orillia                 PRICE, Ian Edward Greville, Ottawa                TILLEY, John Michael Alexander, Scarborough
LESONSKY, David, Windsor                      PRINSLOO, Desmond Sinclair, Scarborough           TINSDALE, George Harry, Stoney Creek
LINDSAY, Lloyd Allen, Mississauga             PURDY, James Ivan, Lindsay                        TOWSLEY, Clarence William, Toronto
LITWIN, Michael Ian, Montreal, QC             RAE, William John Alexander, Winnipeg, MB         TYRRELL, Paul Edward, Acton
LOKASH, Gerald Allan, Toronto                 RAHN, John Frederick Ernest, Qualicum Beach, BC   VAN KOUGHNET, Gordon Leslie, Cambridge
LONG, Robert G., Thornhill                    RAPP, Bernard, Mont-Royal, QC                     VANCE, Keith Sidney, Mississauga
LOOP, Dan K., Kingsville                      REDDON, Douglas Bruce, Burlington                 VANDEN HEUVEL, Hank Adrianus, London
LORD, Robert Edward, Toronto                  REID, Frederick Allen, Minden                     VICTOR, Edward, Montreal, QC
LOWE, Robert Edward, Midland                  RIDDLE, Thomas Arthur, Norwood                    WALD, Klaus Albert Peter, Markham
LUMSDEN, Allan Dale, Ottawa                   RISHWORTH, Norman, Qualicum Beach, BC             WALES, Bruce George, Normanville, SA, Australia
MACDONALD, Gary Franklin, Belleville          RONNEBERGER, Alfred, Brighton                     WALLACE, Richard Alan, Greensboro, NC, USA
MACDONALD, J. Kevin, Wolfville, NS            ROSEBOROUGH, Garry Walter, Peterborough           WALMSLEY, Ian Simpson, Voorhees, NJ, USA
MACKENZIE, James Stewart, Kitchener           ROSEN, Sidney, Cote St. Luc, QC                   WALSH, Brian Stanley, Toronto
MALCOLM, James William, Waterloo              ROSS, Donald Alexander, Qualicum Beach, BC        WARD, Lawrence Alfred, Toronto
MANDELBAUM, Harold, Toronto                   ROTSTEIN, Michael William, Toronto                WATERS, George Lawrence, Niagara Falls
MARLEAU, Paul, Sudbury                        RUTTAN, Robert Lewis, St. Catharines              WATERWORTH, John Ross, Cambridge
MCARTHUR, David George, Scarborough           RYAN, Patrick Arthur, Orangeville                 WELLS, Alan Percy, Uxbridge
MCCLEARY, John Langton, Newmarket             SADIQ, Salim David, Thornhill                     WELLS, Victor Albert, Oakville
MCCOY, Alan Bernard, Amherstburg              SALPETER, Edward, Hampstead, QC                   WERBIN, Morris, Montreal, QC
MCGURN, Patrick Joseph, Ottawa                SALTZMAN, Danny, Don Mills                        WHELAN, Brian Joseph, Pembroke
MCINTOSH, Gregory Grant, Ottawa               SANDUSKY, John Brainerd, Toronto                  WHITE, Adrian Michael Stephen, Fonthill
MCREYNOLDS, John Bernard, North York          SAPIRO, Cyril Edwin, Willowdale                   WIDDUP, Robert Donald, Mississauga
MEISNER, Carroll Roy, Brampton                SARGON, Abraham Ferris Joseph, Mont-Royal, QC     WINDSOR, Peter Burton, Abbotsford, BC
MILLER, Edward Douglas, Nepean                SCHNARCH, Willy Reubin, Montreal, QC              WINROW, Keith Ernest, Qualicum Beach, BC
MITCHELL, Robert Charles, Orangeville         SCHWARTZ, Alan, Willowdale                        WINT, Antony Willis, Toronto
MITCHELL, Ronald Ernest, Ajax                 SEAGO, Alan James, Burlington                     WORSNOP, Douglas Paul, Agincourt
MOORE, William Charles, Toronto               SHAPIRO, Morden Saul, Willowdale                  WRIGHT, Anthony Allen Lean, Toronto
MUI, Richard Y., Saint-Eustache, QC           SHAPIRO, Paul Frank, North York                   WRIGHT, Graham William, Cedar Valley
MUNRO, John Andrew, Sutton                    SHIRRIFF, Colin Peter, Penetanguishene            WRIGHT, James Hubert, Burlington
MURRAY, Thomas J., Toronto                    SHULMAN, Michael Gerald, Toronto                  WYATT, William Arthur, Cobourg
NADLER, Martin, Montreal, QC                  SHULTZ, Clayton George, Flight Rock, BC           YANOVER, Edward Paul, Willowdale
NAISMITH, Douglas Barry, Penetanguishene      SIGAL, Leonard William, Petah Tikva, Israel       YORSTON, Raymond, Newmarket
NAYLOR, John David, Huntsville                SILVERBERG, Lawrence Harold, Toronto              YOUNGBLUT, Barry Lynn, Brampton
NEAL, Raymond Edward, Grand Bend              SINTON, Joyce Charlotte, Barrie                   ZEIBOTS, Andrew, Toronto
NEEDHAM, Dennis Edward, Burlington            SLAN, Joel Elliott, Toronto                       ZYCHOWICZ, John, Ancaster

                                                                                                     CheckMark • Autumn 2010                37
Disciplinary	Notices
The Discipline Committee has the responsibility of                He also reported incorrect income on a T4A for a person
determining whether a member, firm or student charged             who was a director, officer and shareholder of the company.
with professional misconduct is guilty and, if so, for making     Mr. Karmazyn provided false and misleading information
an order for sanctions. The Discipline Committee may              to Canada Revenue Agency by certifying that information
also approve Settlement Agreements proposed by the                was correct when it was not. During settlement discussions
Professional Conduct Committee and a member.                      with the company, Mr. Karmyzn made threats to one of the
                                                                  parties that he would contact Canada Revenue Agency
The Discipline Committee applies the principles of                about his suspicions of tax improprieties, but if a settlement
rehabilitation, specific deterrence and general deterrence        was reached, he would delete certain files in his possession.
to determine sanctions appropriate to the particular              Mr. Karmazyn participated in a scheme to improperly divert
circumstances of each individual case and in the public           a GST refund from a company to a client and to himself. Mr.
interest.                                                         Karmazyn was fined $10,000, charged costs of $30,000 and
                                                                  ordered to be expelled from membership. His appeal was
The Discipline Committee has wide powers to facilitate            dismissed by the Appeal Committee.
rehabilitation, including the power to order supervised
practice and reinvestigation. Generally, members whom             Deanne Lynne Metzloff, Atwood, was found guilty of one
the Discipline Committee concludes are incapable of being         charge under Rule 104 of failing to respond in writing to a
rehabilitated or are otherwise ungovernable are expelled.         letter from the Institute in which a written reply is specifically
Expulsion may also be ordered to protect the public trust         required, and one charge under Rule 203.2(a) of failing
and the integrity of the profession.                              to co-operate with officers, servants or agents of the
                                                                  Institute who have been appointed to arrange or conduct a
The written reasons of the Discipline or Appeal Committee in      practice inspection. Ms. Metzloff failed to submit requested
a specific case may be accessed by visiting the Institute's       documents to the Director of Practice Inspection, and failed
website at                                        to respond to correspondence from the Associate Director
                                                                  of Standards Enforcement. Ms. Metzloff was fined $3,000,
                                                                  charged costs of $2,000 and ordered to co-operate by
                                                                  providing her Quality Control Manual, client working paper
Discipline Hearings                                               files and CPD logs to the Director of Practice Inspection.
                                                                  As a result of Ms. Metzloff’s failure to comply with the order
Kerry William Butler, formerly of Lisle, was found guilty
                                                                  of the Discipline Committee to co-operate within the time
of two charges under Rule 201.1 of failing to conduct
                                                                  period specified, she was suspended from membership.
himself in a manner that will maintain the good reputation
of the profession and its ability to serve the public interest.
                                                                  Paul William Percival, Lucan, was found guilty of one
While a partner in a public accounting firm, Mr. Butler,
                                                                  charge under Rule 104 of failing to respond in writing to a
without the firm’s knowledge, accepted from a client
                                                                  letter from the Institute in which a written reply is specifically
approximately $3,000 less than the amount invoiced by
                                                                  required, and one charge under Rule 203.2(a) of failing
the firm on agreement with the client that the reduction
                                                                  to co-operate with officers, servants or agents of the
would extinguish Mr. Butler’s personal debt. Mr. Butler also
                                                                  Institute who have been appointed to arrange or conduct a
deposited into his personal chequing account for his own
                                                                  practice inspection. Mr. Percival failed to submit requested
use nine cheques, in the approximate amount of $15,000,
                                                                  documents to the Director of Practice Inspection and failed
all payable to the firm. Mr. Butler was fined $10,000 and
                                                                  to respond to correspondence from the Associate Director
ordered to be expelled from membership.
                                                                  of Standards Enforcement. Mr. Percival was fined $3,000,
                                                                  and ordered to co-operate by providing his Quality Control
Sidney Karmazyn, Thornhill, was found guilty of three
                                                                  Manual, client working paper files and CPD logs to the
charges under Rule 201.1 of failing to conduct himself
                                                                  Director of Practice Inspection. As a result of Mr. Percival’s
in a manner that will maintain the good reputation of the
                                                                  failure to comply with the order of the Discipline Committee
profession and its ability to serve the public interest, and
                                                                  to co-operate within the time period specified, he was
one charge under Rule 205 of signing or associating
                                                                  suspended from membership.
himself with correspondence which he knew or should
have known was false and misleading. Mr. Karmazyn sent
T4A summaries to Canada Revenue Agency on behalf of a
company for persons whom he knew or should have known
were not its employees, officers or directors, and whom he
knew had not received the amounts shown on the T4As.

38          CheckMark • Autumn 2010
Fraser Edward Simpson, formerly of Thornhill, was
found guilty of: one charge under Rule 101 of failing to        THE INSTITUTE OF CHARTERED ACCOUNTANTS
comply with Bylaw 106(5) by holding himself out to be                            OF ONTARIO
                                                                             IN THE MATTER OF
a Chartered Accountant while his rights and privileges
                                                                  THE CHARTERED ACCOUNTANTS ACT, 2010
were suspended; one charge under Rule 205 of
associating himself with a statement or representation          NOTICE OF APPLICATION FOR READMISSION TO
which he knew was false or misleading; and one                               MEMBERSHIP BY
charge under Rule 201.1 of failing to conduct himself in                         THOMAS CRAIG HARRIS
a manner which would maintain the good reputation of           TAKE NOTICE that THOMAS CRAIG HARRIS, a
the profession and its ability to serve the public interest.   former member of the Institute expelled by order of
While under suspension from membership, Mr. Simpson            the Discipline Committee made April 26, 2007, has
held himself out as a Chartered Accountant in various          submitted an application to the Discipline Committee
communications. Mr. Simpson signed a passport                  for readmission, pursuant to Bylaw 353 of the Bylaws of
application certifying that he had known the applicant         the Institute.
for over three years when in fact he had known the             AND FURTHER TAKE NOTICE that any person desiring
applicant for less than eight months. Mr. Simpson              to provide information relating to the applicant’s good
also sent an e-mail which contained unprofessional,            moral character, competence to practise as a Chartered
unfounded and damaging assertions against a third              Accountant and/or carry on the practice of public
                                                               accounting, or relating to the criteria for readmission set
party. Mr. Simpson was fined $5,000, charged costs of
                                                               out in Bylaw 353(7), should communicate in writing on or
$10,000 and ordered to be expelled from membership
                                                               before December 31, 2010 to:
in the Institute. His previous readmission to membership
was also revoked.                                                             Paul F. Farley, B.A., LL.B
                                                               Senior Counsel to the Professional Conduct Committee
                                                                 The Institute of Chartered Accountants of Ontario
                                                                  69 Bloor Street East, Toronto, Ontario, M4W 1B3
                                                                   DATED at Toronto this 5th day of October, 2010

                                                                                              Firm Monitors
                                                                                              File Quality Reviewers
                                                                                              CAS & GAAS Advisors
                                                                                              Tel: 416-224-5777
                                                               Assisting CA firms with:       Reducing costs and delays in your audits by
                                                               • Firm monitoring & FQRs       assisting your CDN & US public clients with:
                                                               • Second partner reviews       • Financial statements, notes and MD&As
                                                               • Risk management              • Working paper schedules
                                                               • Engagement efficiency        • Complex accounting matters
                                                               • CSQC standards               • ASPE conversions
                                                               • Independence                 • IFRS conversions

                                                                                          If any business evolution thoughts are
                                                                                          crossing your mind, talk with Sloan
                                                                 RetiRing?                Partners LLP Chartered Accountants.
                                                                 gRowing?                 STEPS is a transition program, with the goal
                                                                                          of providing high-end office space or ongoing
                                                                need space?               support while guaranteeing that your practice
                                                                                          will be in capable hands when you finally leave.
                                                                                          It is well planned and profitable for you. STEPS
                                                                                          is completely customized to your needs - you
                                                                                          maintain complete control of your practice,
                                                                                          your transition, your goals and time frame.

                                                                                          For high-end office space in North Toronto or
                                                                                          a way to transition call Allen Sloan.
                                                                                          Tel: 416-665-7735x222

                                                                                            CheckMark • Autumn 2010                          39
CheckMark Ad-LannickGroup_FINAL.qxd:Layout 1                       4/19/10    1

                                                                             Are You a CA in Trouble?
               The Right Fit For You ™                                       Our mission is to assist members in mitigating
                                                                             reputational damages and achieving the most
     25 years helping quality people and                                     favourable outcome possible.
      quality companies find the right fit.                                  Bruce Armstrong, FCA, CFE spent over 25 years as an
                   Register with us or consult with                          ICAO investigator and has always held as sacrosanct
     one of our Finance & Accounting recruitment specialists at:             the member’s best interests.
              1-877-859-0444 or info@                            For a confidential, no obligation chat, call Bruce at
                                                                             416-682-7178 or
         contract             search               staffing

                                                                                                                                looking for
                                                                                                                                a change of
                                                                                                                                  s c e n e ry ?

                                                                              We     have   qualified   buyers   waiting!   We
                                                                              simplify the process and help you get more
                                                                              for your practice...along with the BEST terms.
                                                                              BUYERS, registration is FREE and simple! To learn
                                                                              more, call Brannon Poe, CPA at 1.888.246.0974
                                                                              or visit us at
        Boufford CM Spring 2006.pdf       4/5/06    9:59:47 AM

                                                                                     U.S. Tax & Legal Services
     Your business card would                                                   Tax Compliance • Tax Consulting • Estate Planning
                                                                               U.S. Incorporations • Immigration • U.S. Tax Litigation
         fit perfectly here                                                            Individuals, Businesses, Estates, Trusts,
                                                                                        Entertainment Industry and Athletes
     Get great results at a reasonable rate!

                  Call Melanie Mohan
         416-969-4268; 1-800-387-0735, ext. 268;
              e-mail:                                                          905-695-1269

40        CheckMark • Autumn 2010
Hi, my name is Bob, and this is my Manulife one number. It’s the interest my family
could save over the life of our mortgage.
By combining all our income, loans and savings into a single account we could be debt-free years sooner. This innovative
money saving account comes with infinite possibilities. It could mean a better education for my kids, a few more relaxing
vacations or some renovations we’ve always put off. It’s not just my Manulife one number. It’s my life in dollars and sense.

Every homeowner has a Manulife one
number, what’s yours?
To run your own numbers visit or
call 1 877 765-2265 and ask about the special offer for CAs.

                   Special offer negotiated by:

                                                                         Visit for more details on a special offer
                                                                         and to better understand all the features of Manulife one.

Manulife one is offered through Manulife Bank of Canada.
Individual savings will vary and are not guaranteed. To see an explanation with detailed financial information, visit Manulife, Manulife one, the one logo and the block design are trademarks of
The Manufacturers Life Insurance Company and are used by it and its affiliates including Manulife Bank of Canada.
CA Select™ Insurance Plans
40 Years Strong!
CA Select is 40 — and it’s never looked better!
The Institute has worked closely with
Manulife Financial since 1970 to make your
CA Select Insurance Plans something special.
Today, CA Select offers a unique selection
of Plans that combine the best features of
personal insurance with exclusive
member-only rates.

n   Term Life
n   Personal Accident
n   Child Life & Accident
n   Critical Illness
n   Income Protection
n   Office Overhead Expense
n   Catastrophic Health

Take full advantage of your Membership by joining
nearly 25,000 of your CA colleagues and their families
who enjoy the protection of the CA Select Insurance Plans.
For more information or to apply, visit:

40 years strong CA Select™ Insurance

An Anniversary Gift to You:
A Gift of Giving!
To celebrate the 40th Anniversary of the CA Select™ Insurance
Plans, a donation of up to $40,000 will be made by the Plans
to selected charities on behalf of all Institute Members.
To help us reach our goal, click on the special anniversary
banner and select a charity. For each Member selecting a
                                                                                         $ 33,000...
charity, $25 will be added to the total funds being donated!                        we're almost th
Click today!                                                                       Help us reach ou
                                                                                                      r goal of $40,00
                                                                                                                       0!                                                              It just takes a CLI
                                                                                                       CK of your time
                                                                                   and there is no
                                                                                                    cost to you!
Underwritten by:                                           Endorsed by:

The Manufacturers Life Insurance Company

                   Questions? Contact Manulife Financial toll-free at 1 866 219-4245. E-mail

To top