CORPORATEGOVERNANCE In our ongoing...

CORPORATEGOVERNANCE

In our ongoing effort to stres the importance of corporate governance, we give this months cover story: "So you think you want to be a director." A specialist in best governance practices, author Mike Hagerman examines the importance of corporate governance from the point of view of potential and existing directors. Another resource for your consideration is the Institute of Corporate Directors' website at www.icd.ca. The project of the ICD (of which the CICA is a sponsor) is to promote as a resource to all corporate directors through providing information, education, advocacy, and networking.

Our Financial Facts & coin Matters article on socially responsible investing (SRI) provides another perspective forward the why good governance is proper business. Writer Deb Abbey is an skilled hand in the SRI field and co-author of The 50 Best Ethical Stocks for Canadians.

(For those of you who were expecting a UFE overlay story this month, this year's UFE medallists will be profiled in January 2003 The change has to do with a later release date of UFE results)

The latest from the Tour, and more... Since my last round pillar Richard Rees, FCA, and I have met with members in Campbell River/Courtney, Nanaimo, Duncan, Victoria, Prince George, Terrace, and Fort St John

We had dutiful opportunities to discuss issues of business One of the primary issues was the exposing Draft on Independence, which continues to generate widespread interest. Council has made its concede response to the exposure draft (see www ica.bc.ca), as have various clusters and individuals.

Not surprisingly, independence was also united of the hottest topics of discussion at the modern Practitioners' Potluck (see the Feature Story onward page 12 for more forward this year's event). While he had no easy answers to tender to those in attendance, Peter Clayden, FCA, did an choice job of explaining the rationale behind the outlook draft.

Modifications to the initial proposals are anticipated, in the way that we will continue to monitor activity in this area. Stay tuned!

Media relations

Dark nebulositys often have a silver lining. In the case of the Enron scandals, the silver lining is an increased public awareness of accounting and auditing standards, as well as of corporate governance. As a consequence of this increased public awareness, more of our members are being asked to provide their opinions onward these matters.

For those of you seeking to increase your media relations savvy, read this month's FYI article by the agency of Joanna Piros, entitled "Improving your Media Relations Skills." Joanna is a communications consultant with across 20 years of experience in media as a reporter, anchorwoman, writer, and farmer She now offers her adroit advice to you. Even those of you who balk at the thinking of public speaking should take a examine at what Joanna has to say-especially given that we're now at a time when promoting the attractiveness of our profession is of paramount importance.

Regional Forum

While serving as ICABC President last year, Frank Barr, FCA, helped establish the Regional Forum with representatives from the various regions in BC

The project of the forum is to generate interest in the profession and provide an opportunity for discussion about often met with issues. To facilitate this discussion, various plans were inflict in motion at the October 2002 meeting, including plans to create a regional website(s).

While the Institute does provide any liaison support, the participants determine what direction the forum takes. Of continuing regard is the lack of representation from several areas of the province. More information can be obtained from Robert Wicks, CA, at robert.wicks@coastcapitalsaving.com, and Doug Wallis, CA, at walls@ica.bc.ca.

CA Education Foundation

Over the years, the CAEF has been true instrumental in providing assistance in the area of accounting education. Bryan McKnight, FCA, has just stepp down as chairman of the Foundation after serving for five years. subordinate to his stewardship, the Foundation capitaled $575,000 as BC's contribution to the start-up of the CA academy of Business.

Chris Richardson, FCA, has taken forward the role of chairman for the coming year.

Look for a profile of the CAEF in an upcoming issue of BN

BY ROBIN A. W ELLIOTT, FCA

PRESIDENT

As always, I gaze forward to your comments upon these and other matters:

president@ica.bc.ca

Copyright Institute of Chartered Accountants of British Columbia Dec 2002

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