FEI Vancouver Chapter Luncheon Building a new profession Richard - - PowerPoint PPT Presentation

FEI – Vancouver Chapter Luncheon Building a new profession

Richard Rees, CPA, FCA

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OVERVIEW:

National Update Provincial Update Building CPABC Meeting Future Demand Public Policy Protecting the Public Questions

• The CPA designation has grown out of the belief that Canada

needs a single, unified accounting profession that will demonstrate leadership, inspire confidence, and command respect in Canada and globally.

• CPA’s values, qualities, and capabilities are derived from the

best of Canada’s accounting designations – CA, CMA, and CGA.

• This legacy creates the foundation for CPA as the pre-

eminent accounting and business credential that sets the standard for the profession in Canada.

• CPA Canada established April 2013, and CGA-Canada joined

and became part of CPA Canada in 2014.

Building a single, unified profession

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National snapshot

• 190,000 professional accountants merging as one unified

body

Unification Update – National Update

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• Anticipating support from both sides of the House
• CPABC staff are contributing to a nationally harmonized

regulatory framework and developing implementation plans for BC

• Receiving input from members, volunteers, and public

representatives

• Many operational areas already integrated, but full merger

can’t happen until legislation enacted

• Hoping for progress in spring legislative session

CPABC Legislation

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• ICABC, CGA-BC, and CMABC signed 3-way joint venture in October 2013
• Transitional Steering Committee with equal legacy representation

implementing unification

• Will be one of largest professional bodies in western Canada

About CPABC

12,258 5,650 11,776

Designated Accountants in BC –

12/31/14

783 403 2,701 1,589

Professional Program Candidates – 12/31/14

29,684 Members 5,476 Graduate Level Candidates 7

We’re building the best business and accounting education program to develop a stronger, more responsive profession.

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“BC will need 1,290 new accountants each year, for the next ten years, just to keep up with the projected demand.”

• - Occupational Demand Analysis for Chartered

Professional Accountants, Roslyn Kunin & Associates, Inc.

Labour Market Projections

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• CPA Professional Education Program (PEP)
• CPA Prerequisite Education Program (CPA PREP)
• Advanced Certificate in Accounting and Finance (ACAF)
• CPA Practical Experience Requirements
• Gaining ‘real world’ experience to meet a changing

marketplace

• Mentoring (for legacy CA, CGA and CMA members)
• Professionals guiding, assisting students to reach their

full potential

Meeting future demand

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Routes to Training Students

Experience Verification

• Employer

commits to providing experience

• Student (or student

and employer) finds experience

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Pre- approved Training Office

Promoting the Profession

Employers & Clients Potential Students

• Provincial top-up

branding & hiring campaign

• Print
• Radio
• Sponsorships
• Strong recruiting

activities and advertising

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• BC Check‐Up

Economic Analysis

• CPABC Business Outlook Survey

Member Feedback

• Budget Recommendations

Policy Development

• Media Interviews
• Sponsorships

Outreach

CPABC Public Policy Work

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Economic Outlook

• Those in the regions are more positive about the BC economy
• One-third of CPAs believe BC will outperform the Canadian

average over the next 2 years

• Attracting skilled labour and housing prices top domestic

challenges

• US recovery, commodity prices, and China’s slowed growth top

global challenges Top 3 priorities for government

• 1. Improve regional economic development
• 2. Reduce red tape
• 3. Restore input tax credits

CPABC Business Outlook Survey

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BUDGET RECOMMENDATIONS

Housing 81% of CPAs believe housing prices are a challenge to business

• Look at implementing

something similar to Vancouver’s Affordable Housing Agency in other high priced communities

• Study mitigation

strategies in other high-priced markets

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Municipal Transparency 66% of CPAs felt that local governments did only a poor

• r fair job of creating a good

climate for business and investment in BC

• Establish performance

measures like Ontario, that would assess, compare, and benchmark municipal financial performance

Budget Recommendations

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Tax Reform

• Restore a competitive tax for business investment

Budget Recommendations

Average (all industry) METRs, 2013

*national average Orange line is BC’s METR in 2012 Source: Business Council of BC

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BUDGET 2015

Watch for CPABC’s budget analysis

• n Tuesday, February 17, 2015
• Sponsoring a post budget

breakfast with Minister Mike de Jong on February 20 at the Richmond Chamber of Commerce

• Also, sponsoring a special

presentation by Minister De Jong, at the Vancouver Board of Trade

• n Monday, February 23, 2015

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PRO

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Questions & thank you

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www.bccpa.ca