The mostly wonderful time of the y...

The mostly wonderful time of the year

Ah, the signs of spring: cherry flowers warmer weather, and longer days. And membership owings Yep, it's that time of year we all know and love: suitables time.

While the vast majority of members pay their to be ascribeds on time-and we thank you-that still leaves a small number in arrears. From an ethical perspective, I find this troubling. After all, failure to pay membership oweds on time leads to late penalties (at the actual least) and expulsion (at the self-same worst). You remember how hard it was to earn your CA designation; are you really eager to jaculate it away? Do you really want to pay a $250 application fee-simple on top of late penalties and to be ascribeds to get your designation back?

For providing the following information, I thank Anna Piccolo, the ICABC's member records coordinator and assistant accountant, and Jennifer Neher, our member records and accounts receivable representative. These brace know first-hand the lengths the Institute must fare to when chasing down outstanding dues

Now I'd like to share this information with you.

The "skinny" forward late penalties

Every year, the annual membership fits billings arc sent out in April, with May 31 as the deadline for payment without penalty.

To make secure that the vast majority of our membership doesn't have to pay for the scarcely any who don't pay on time (many of whom are repeat offenders) the ICABC levies significant penalties: 10% of the oweds total is charged as a late penalty upon June 1; July 1; and again forward August 1.

We don't have the advantage [i]or[/i] blessing of charging late penalties, so we make each effort to remind members of their obligations. This year, we'll forward out an email reminder the same week prior to the May 31 2004 deadline to those for whom we have email addresses. And, as always, late payers will receive statements after each late penalty kicks in.

"Dialling for Dollars"

Would you believe that in August, after the third wager of late penalties have been levied, a number of the Institute's senior directors and managers participate in what has issue to be known as "Dialling for Dollars"? Each member of our DD team is given a list of members and asked to track them down in order to convince them to pay their membership fits and penalties.

In many cases, the contact information in succession file is no longer valid, in like manner staff members have to search "people-finder" wcbsitcs and contact relatives and previous employer not at any time mind the administrative costs for issuing and processing late penalties, does forcing Institute staff to play detective undecayed like the most effective way to offer your membership dollars to work? I think not. That's to what end it's so important to continue your membership records up to date. It's easy to clo: just email records@ica.bc.ca.

If members still fail to pay their to be paids and penalties by August 31 their names are inflict before Council for suspension. Continued failure to pay befittings and penalties by September 30 springs in cancellation of membership.

Sound harsh? Bear in mind that other professional organizations move no leniency at all.

Excuses, excuses...

Here are a doozies we heard last yeat:

* "I ran public of cheques and forgot to reorder them."

* "I was in succession a sabbatical in Bora Bora and not getting my mail."

* "I contemplation my company paid my befittings directly."

* "I WOULD pay onward time if you sent the invoice AFTER tax season."

* "I've misspent my invoice on my desk Tax season can be pleasing messy."

* "I thought I'd paid it, in like manner I threw it away."

* "I didn't update my address when I mov in such a manner I didn't receive my invoice. to what degree was I to know to pay my dues?"

And the list of lame-duck excuses goe on

Options for those with legitimate difficulties

Some CAs have legitimate financial and/or medical difficulties. If you fall into this category, all we ask is that you obstruction us know in advance of the May 31 2004 deadline with equal reason we can discuss some options with you. For example, feud waivers are available for financial hardship or medical disability. There's also a waiver for members disclosed of the workforce caring for dependants. And, with any members, we may set up a payment plan. To discuss your waiver options, contact Registrar Stephanie Langley at 604-488-2636 or by the agency of email at langley@ica.bc.ca.

Let us know what's going forward so we can help. We treat all situations with full confidentiality.

The message

I can't stres enough in what manner important it is to pay your membership suitables Failure to do so not alone costs you significant penalties, it can sumptuousness you your designation.

Dues questions? Contact Anna Piccolo at piccolo@ica.bc.ca or 604-488-2617; or Jennifer Neher at neher@ica.bc.ca or 604-488-2616

Please note: For further details about annual membership propers and our member services, please visit our website www.ica.bc.ca in a less degree than Member Resources/Dues.

By Chris Utley CA, Director of Ethics

Copyright Institute of Chartered Accountants of British Columbia May 2004

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