Still "High" onward High Tech CAs...

Still "High" onward High Tech

CAs working in this sector are still "high" forward the industry and passionate in their faith in its to come

"The high tech industry is still able to endure and it's here to stay," asserts Karen Keilty, CA, a partner in Deloitte & Touches high tech practice in Vancouver.

"We have about amazing technology companies with global influence right here in BC and those will spawn on the same level more world class companies in the years to reach [i]or[/i] attain any place [i]or[/i] point Of course, there are periods to the world of business, and we have experienced a 'correction' if you will, on the other hand there will be another resurgence soon"

Keilty points disclosed that the high tech cluster at her firm-made up of a 30 professionals-accounted for as a great deal as 20 per cent of the entire firm's reward in 2000 and an increase from an insignificant percentage five years ago.

"In 1996 I noticed a fortune of my new work was technology-related, and I began to prodigy just how big the market was," Keilty recalls. "We did research, and we began to achieve clients like PMC Sierra and Pivotal. The technology practice grew rapidly from there."

Keilty freely acknowledges that while the hereafter is bright for high tech there are still big challenges for the sector; these include accessing capital, attracting the right folks and accessing the appropriate markets. There's also the ne to prompt quickly from the germination of an idea to the fruition of a work

Vice President, Finance for Radiant Communications, Robert MacDougall, CA, agrees that the phenomenal bourgeoning of high tech companies has retreated sharply, on the other hand points out that the upright companies with strong, experienced management teams are still standing and are still getting currency to grow their businesses.

"We've all been affected according to the sudden change in fortune of high tech companies upon the stock markets," MacDougall says. "There are certainly fewer technology companies finding the funding to launch or disentangle their businesses than a not many years ago. And there's been a ripple meaning throughout the industry because oftentimes the customers of high tech companies are other high tech companies, and the disappearance of with equal reason many dot corns has had a significant impact onward the futures of those of us who remain."

Radiant Communications provides Internet services to small and medium-sized businesses, and, according to MacDougall, is lucky by leveraging the communications networks present in place by other communications companies.

"We're focused forward delivering great service, so that we can be in the best position possible to ride the continued development in the use of data services," he says.

In addition to their CA training, one as well as the other Keilty and MacDougall have freshly obtained the American Certified Public Accountant (CPA) designation.

"The CPA skill plant is necessary to assist Canadian companies entering US markets and US stock exchanges," Keilty advises. "It allows access to knowledge about global capital."

MacDougall agrees adding that the US is still an important source of peril funding for high tech start-up companies.

"The CPA designation provides a great understanding of the unique aspects of doing business toward the south of the border. It's also a familiar designation for the American businesses and potential investors we deal with daily," he explains. "It wasn't easy to obtain, yet having already had the rigorous training of the CA program definitely made taking the reciprocity exam tendered to Canadian CAs easier."

MacDougall and Keilty the two deny being "techno geeks," although MacDougall admits to a fascination with the applications of technology.

"I've always been drawn to the technological aspects of my work, and I've managed the information rules for other companies I've worked with. I understand it, and I like it," he says. "In fact, I can't imagine working in any other industry."

Keilty admits to having "no natural inclination to technology," however says she's a good consumer "Of course, you must understand the nature of your client's business. I have a beneficial grasp of the products, services, and ambitions of my clients in our high tech practice, however really I'm like anyone other when it comes to my enclosed space phone or my computer: I want them to work," she says.

CA Edward Wear's hold introduction into the high tech sector came about in a self-same unusual way. His daughter, Sandra, was the same of the founders of DocSpace, a company that delegates stores, and shares digital files across the Internet. In early 2000 it was sold to San Francisco giant Critical Path Inc. in a deal worth more than $500 million Canadian. The deal was considered single in kind of the largest of its kind in the land making Sandra and her partners instant millionaires. No small part of the succes of DocSpace is owed to Edward Wear's accounting skills.

"In the spring of 1999 Sandra called me sayng they wanted someone to help them with the accounting, reporting, and administrative functions," Wear remembers. "I went to Toronto, and, from one side of to the other nine months, put into place arrangements and procedures designed to address the unique extremitys of a high tech company."