April is a busy and challenging tim...

April is a busy and challenging time for CAs. To members in public practice, I wish you the best for a productive tax season, and I expectancy you're planning relaxing activities for yourselves and your families one time the season is over. (In the meantime, you might want to direct the eye at this month's Small Talk for more [i]or[/i] less ideas on how to secure through this hectic time with your sanity intact.)

To our members in industry, direction and education (a majority), I know that while you may not be involved in tax preparation, mostly of you are very busy as well, weathering the storm of regulatory change that is affecting each and each one of us.

Will we at all times be post-post-Enron? Probably not for many years. in such a manner to help keep you in the bight this month we look at one current events in the business world that have a large impact upon all of our lives-regardless of where we practise our profession.

Regulatory reform

In our veil Story this month, BC Securities Commission Chairman Doug Hyndman put forwards his insights into regulatory reform in BC Doug is a leader in securities regulation reform, and is a governor member of the newly formed Canadian Public Accountability Board, which was created to superintend the auditing of public companies in Canada. I believe we're fortunate to have Doug at the helm in these obstreperous times.

(In this issue's Member Profile, another BCSC staffer, Chief Accountant Carla-Marie Hait, CA, explains for what purpose she loves her job.)

Greater expectations

In this month's Feature Story, Professional Standards Advisor Stella A. Y Leung CA, examines the impact of regulatory change forward all members. Her strongest message is that each CA must endeavour to stay informed. And in Ethical Dilemmas, Director of Ethics Chris Utley CA, warns of the rising expectations placed onward public company auditors.

Members working to make a difference

Many members, like past president Rick Acton, FCA, are busy making a difference for the profession. Rick is publicly chairman of the CICAs Professional Liability Insurance Committee (PLIC), which superintends the insurance program available to small- and medium-sized CA practices. Rick has been a member of the PLIC since 1994 however retires from the committee this year. We thank him for the tremendous piece of work he's done looking out for the be in want ofs of BC members-an increasingly important service in these litigious times.

We've been fortunate to have the right BC persons on CICA committees at the right time-Rick is just undivided example. Another retiring chairman is Blair East, CA Blair has headed up the International

Qualifications and Appraisal Board (IQAB) for four years, and has been a member for ten This CICA committee reviews the qualifications of foreign accounting bodies applying for reciprocity in Canada. We're auspicious to have enthusiastic and qualified members like Blair who are willing to take onward important, but somewhat esoteric, activities.

A number of us have also been active in talking to the public about what CAs are doing in light of the business failures in the US and the los of public confidence in the capital markets. CICA Chairman Pierre Brunet FCA, was in Vancouver this past February and spoke to the Vancouver Board of Trade and a graduate assemblage from Simon Fraser University. He also held a public forum for CA members. Richard Ree FCA, and I have been pleased to speak to a large number of service bludgeons and business organizations, and we thank the members who helped us organize these affairs Other BC members have also been active in their respective communities, discussing the issues with the public.

For all of us, the goal is the same-to assure the public that the profession continues to have high standards, still ones on which we continually examine to improve. These improvements include stricter standards, more public oversight, and greater transparency of actions.

If you have questions or observations about these or other issues, please contact me at president@ica.bc.ca.

BY ROBIN A. W ELLIOTT, FCA PRESIDENT

Copyright Institute of Chartered Accountants of British Columbia Apr 2003

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