On March 24 2004 the Accountants (C...

On March 24 2004 the Accountants (Chartered) Amendment Act, 2003 came into force (see For the Profession forward the icing page). The amended Act continues our prolonged tradition of governing to defend the public interest while still maintaining the interests of the profession.

Protecting the public interest has always been a [i]clavis[/i] driver for Institute activities and practices. This dogma is embedded into our discipline and practice review processe and into our professional evolution programs; it is also a critical-albeit les public-part of our governance process

Getting an outside perspective

The ICABC Council consists of 15 councillors chooseed by the membership and three public representatives appointed according to the provincial government.

Our public rep are critical to our advantageous governance, as they have no affiliation with the Institute other than a legislated mandate to make secure that we promote the public's interest through the whole extent of our own. Their presence and participation assist as constant reminders of Council's responsibility to defend both the public and the yet to be of the profession. (The Institute has public rep in succession its discipline and practice review committees for similar reasons.) nevertheless sometimes difficult, this balancing act makes our profession stalwart respected, and trusted.

At our last Council meeting, we said "goodbye" to single of our public reps, Robert Burrow (A United ecclesiastical body minister in West Vancouver, knock received his doctor of divinity from Victoria University, at the University of Toronto, in 2001) During his six years forward Council, Bob expected the highest of the same height of integrity in our decision-making. He was frequently quiet in meetings, but when he did speak, it was to remind us of our responsibility to balance public and professional interests, no matter to what degree challenging that might be.

Bob was ably helped according to our two other public rep Ros Fraser and Susan reduce to ashess both of whom have backgrounds in business and education. These couple encourage rigorous analysis of fresh ideas and help ensure that the interests of clients and investors factor into our decision-making.

Ros and Susan are now joined from Al McNair, who has be derived on board to replace clip Al has more than 20 years of business experience with Pacific Pres is a past chair of the BC Chamber of traffic and is also a direction relations and strategy expert thanks to his part as manager of public affairs with Weyerhauser. In 2003 he was named "Kamloops Business living body of the Year."

Al will be a firm complement to Ross and Susan, and has assured us that he will not be retiring in voicing his opinions.

This month's contents

Just as we expect to our public representatives for their perspectives, many boards inflect to chartered accountants to maintain their governance processes on the straight and narrow. The demand for CAs to attend on boards is a testament to the value placed onward our skills and judgment. However, this privilege is not without risk. In our protect Story this month, Tony Knox, LLB considers at the specific liability issues associated with boards, and provides practical tips to manage these risks.

While many CAs are involved in non-profits and public companies between the sides of boards, many others are employee in these organizations. Our Feature Story-as I promised last month-is about our recently made known industry strategy, which is designed to support members in these positions.

And this month in FYI, we celebrate our members involved in internal audit, as the City of Vancouver has proclaimed May to be "Internal Audit Month" In keeping with this celebration, this month's Profile spotlights John Page, CA.CIA, an internal audit specialist.

As always, please propel your comments and questions to me at president@ica.bc.ca.

BY JOHN COWPERTHWAITE, FCA

PRESIDENT

Copyright Institute of Chartered Accountants of British Columbia May 2004

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