New strategic vision becomes realit...

New strategic vision becomes reality

The report of the Council of Senior Executives' Strategic Planning Task Force was approved at the CICA Board on September 28 2004 having received the approval of each provincial institute/ordre in the weeks prior.

We provided you with information about the draft strategic plan at the consultations this spring, in the TBA and TBA issues of Beyond Numbers, and forward our website (where the abounding document has been posted since the summer) yet now that the plan has been unanimously approved as a blueprint for the what may occur hereafter I want to give you a more without fault [i]or[/i] blemish [i]or[/i] flaw sense of what it will mean for us in BC

The goal for the CA profession is to have CAs dominate all senior financial positions and advisory parts There are seven objectives to reaching that goal:

1 Preserving our core values of ethics, integrity, independence, objectivity, and commitment to the public interest;

2 Enhancing our brand toughness inside and outside the profession;

3 Preserving and enhancing our international influence;

4 Sustaining and enhancing our market share and influence;

5 Securing the replenish of CAs to meet subsequent time demand;

6. Developing an education prototype that attracts the best and brightest candidates and equips them to succe in a mixed and changing environment throughout their careers; and

7 Building a more cohesive membership.

These clear, strategic objectives emerg from several month of extensive research with members and the marketplace, as well as a thorough analysis of our competition and the environment that shapes our to come This process included both outside researchers and members from various provincial institutes and the CICA.

The principally important question, of course, is to what extent to achieve these objectives. Four clusters have been proposed to bring out specific plans in the areas of branding, education, member relations, and public trust, respectively. Each group's broad mandate will include the opportunity for member input.

Focusing forward promoting the profession

After several years of lacklustre promotion, a novel branding strategy is being perform the operations indicated ined to effectively position and excite the CA brand. The strategy will provide a unifying image that relates to all members and messaging that recognizes the profession's breadth and diversity.

Consistent messaging is united of the most important factors for branding succes along with a long-term commitment from leaders across the fatherland and buy-in from members.

For members in BC: A just discovered branding strategy means you'll papal court an increased profile for BC CAs, more coin spent on promoting the profession, and increased national support (and leadership) for promotional activities.

Training in industry is a reality

Without implementing changes to our education body the supply of new CAs will continue to decrease. There's a muscular belief across the country that the public practice audit funnel-which serv us well in the past-must be add toed to fit the realities of the 21st hundred The strategic plan concludes, therefore, that the simply way to ensure a steady coming events supply of CAs is to expand CA training into industry and retool the education proces to allow for streaming.

For members in BC: Training in industry will become a reality in the near coming events Key principles in the strange education model will include a continued commitment to high standards, inclusion of a shared corpse of core values and competencies, and a multi-stream approach.

Targeting tools for a diverse membership

The CA profession's diversity is a great hardness but it also tests the ties that bind us. As CAs continue to tread in the steps of increasingly divergent career paths, the institutes/ordre must make secure that all members share a understanding of belonging.

For members in BC: You can look forward to to see more targeted tools, recognizing that members in industry ne different tools than members in public practice, and that large and small firms face many different issues. You will also view a greater focus on lifelong learning and tools to help members favorably make career transitions. Finally, there will be a renewed commitment to lay open and convey these tools to you.

Staying committed to the public trust

With a mission that defines us as "trusted financial leaders," ensuring that we maintain and enhance our focus forward the public trust is paramount-now and in the future

For members in BC: We will work with regulators to guard confidence and transparency in financial statements and capital markets, and we will continue to make secure that standards, values, and conducts protect the public and investors.

A final word

As I've said before, the strategic vision is distinct from the merger discussions. A merger might help us achieve part of the vision, moreover the vision itself will stand whether the merger happens or not.

As I embark in succession the President's Tour with President Barb Carle-Thiesson, FCA, I beseech you to share your studys with us at one of the various stops along the way.

BY RICHARD REE FCA

CEO

Copyright Institute of Chartered Accountants of British Columbia Nov 2004

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