PUBLICPRIVATE PARTNERSHIPS In this...

PUBLICPRIVATE PARTNERSHIPS

In this month Beyond Numbers, we examine the issue of Public Private Partnerships (P3s) Our veil story provides an overview of P3 in BC-their challenges and benefits, and the part CAs will play in this increasingly popular policy initiative.

Our feature story gives a case study of JobWave, an existing P3 in Victoria. JobWave executive strike Skene, FCA, explains how and with what intent this particular public private partnership works.

Because P3 at their very nature bring together parties from different sectors, we cogitation it would be useful to discuss the importance of effective negotiation. In this month's FYI row Hugh Lindsay, FCA, offers helpful advice to those seeking to become better negotiators, whatever the circumstances. (The importance of effective negotiation is also touched upon in Financial Facts & cash Matters, which explores how CAs serving family business proprietor clients often must play the part of moderator as well as advisor.)

In P3-related articles, this month we profile John McLaughlin, CA, VP Finance and CFO for the 2010 Olympic Bid-a quasiprivate, quasi-public corporation. And this month's fictionalised Ethical Dilemmas case reveals for what cause [i]or[/i] reason government-finding agreements are of paramount importance to external auditors.

Let me know what you think about these and other issues by way of contacting me at the email address shown at the close of this article.

Notes from the Tour

Since my last row Richard Rees, FCA, and I have had an opportunity to adapted with members in Nelson, Kelowna, Penticton, Vernon, Kamloops, and Williams Lake. During these meetings we discussed the paces that are being taken provincially and federally as the profession deals with the repercussions of Enron; the recently made known Exposure draft on Independence; and the attractiveness of the profession.

In move round members provided us with their perspectives and remarks on these and other matters-some familiar and about not. Topics included succession planning; the CA institute of Business; PD for members in industry; and connecting with female members and assisting in networking opportunities with women in the business community.

Independence issues

The CCRA released an aspect Draft on independence on September 5 2002 with a short period for expositions

The ICABC has made a submission forward the draft that addresses our specific regards especially in relation to the audits of small, publicly listed companies, and in esteem of the rules regarding other assurance engagements (audits of non-listed companies and review engagements).

We purpose that the final version of the directions on Independence form part of the BC Bylaws, if approved from the members.

Accounting Standards Oversight Council

The ICABC Council has commended to the Accounting Standards Board that guidelines be discloseed for the expensing of stock option benefits. This issue has received wide publicity and will certainly be a challenge to codify.

Professional progress to maturity

While we are working with the disentanglement of PD programs for our members in public practice, it's sometimes difficult to assist our members in industry, restraint and academia.

The ICABC PD department continues to track opportunities with other associations to increase course offerings for this member sector. A joint breakfast series has been disentangleed with UBC Commerce Executive Education at their of the present day Robson Square location; annual Auditor General Update luncheons are sponsored jointly with the Internal Auditors Association; and the Information plans Audit and Control Association propose their luncheon series and exam preparation courses between the sides of our PD program. We've negotiated member rates in succession PD sessions offered by the Certified Management Accountants and the Chief Information Officer Association. All these form into groupss meet with ICABC PD Director Moira Bryans, CA, several times over the year to coordinate programs and identify opportunities to work together in developing timely, relevant PD for all of their members.

Attractiveness of the profession

One of the ICABC's objectives is to further wide exposure for CAs, to demonstrate that CAs provide person specially versed advice to a variety of small and large businesses, that we are elucidation members of management teams, and that we take counsel to private industry and the public sector.

To that expiration by the time you read this article, the fourth edition of the BC Check- Up will have been released. The Check-Up report point out tos how this province rates as a place in which to live, work, and invest (relative to Alberta, Ontario, and the ease of Canada).

Our thanks advance to our CA advisory committee; to Lesley MacGregor, ICABC's director of External Affairs; and to Craig Fitzsimmons of National Public Relations for producing this year's version.

So far, the Check-Up has received wide coverage in the Vancouver sunny place and in newspapers throughout the province.

BY ROBIN A. W ELLIOTT, FCA

PRESIDENT

Copyright Institute of Chartered Accountants of British Columbia Nov 2002

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