Designated CMA Members
with a Degree can now get Advanced Standing in an International
MBA Program
You know how difficult it can be to decide to earn your MBA.
You have to meet all the entry requirements — and then
there are all the family and work commitments you have to
consider. As a CMA with a degree, you now have a new flexible
option that's available to you.
CMA Canada - British Columbia has recently signed an agreement
providing access to an international business school that
will enable CMAs with degrees to apply for advanced standing
in its MBA program. Universitas 21 Global offers a fully online,
interactive, instructor-led MBA for working executives and
professionals anywhere in the world. Sixteen universities
representing North America, Europe, Asia Pacific, Australia
and New Zealand oversee the program admission, content, instruction,
and management and in so doing help ensure that the program
is truly a global program.
CMAs can apply for advanced standing in this MBA program
if they hold a bachelors degree from a recognized institution
and are designated members of CMA Canada - British Columbia
in good standing. If they meet these requirements, Universitas
Global 21 will exempt them from having to write the GMAT and
from taking three MBA courses. Those courses include Financial
Reporting and Systems Analysis; Finance; and Performance Measurement
and Control Systems.
If there is sufficient interest in the MBA for CMAs, CMA
Canada - British Columbia and Universitas Global 21 will schedule
information sessions this Fall. To express your interest in
attending these sessions, call Mark Chiarello at 1.800.663.9646
or 604.484.7065 or email him at mark@cmabc.com
For more information about Universitas Global 21 and its
programs, visit www.u21global.com
CMA/CA Merger Talks - An
Overview
To review how much has been accomplished since the merger
talks were made public, we have summarized the main activities
and initiatives since May 2004.
| Timeline |
 |
May 11, 2004 |
| |
CMA Canada and the Canadian Institute of
Chartered Accountants (CICA) hold a joint news conference
to announce that both organizations are pursuing merger
talks. |
|
May
27th, 2004 |
| |
CMA Canada - British Columbia launches the
weblog on its website for CMA members. The weblog features
a discussion forum as well as FAQ sheets, news releases,
backgrounders, and a schedule of upcoming townhall sessions.
An emailblast is sent to all CMA members to announce the
changes. |
|
June 3rd, 2004
to June 28th, 2004 |
| |
CMA Canada - British Columbia hosts a total
of eleven townhall sessions in the province: Cranbook,
Kamloops, Kelowna, Langley, Nanaimo, Prince George, Richmond,
Surrey, Terrace, Victoria and Vancouver. Schedule information
is emailed to CMA members residing in those communities.
Over 1300 CMA members participate. |
|
June 15th, 2004 |
| |
CMA Canada - British Columbia and the Institute
of Chartered Accountants of British Columbia (ICABC) publish
on their websites a comparison of the existing CMA and
CA accreditation processes. The speech by Chair Pierre
Brunet of the Board of Directors at CICA from ICABC's
May 29th Convocation Ceremonies is added to CMA Canada
- BC's weblog. |
|
June 16th, 2004 |
| |
President Karen Botham of CMA Canada - British
Columbia, CEO Colin Bennett of CMA Canada - British Columbia
and President David Hrycan of CMA Canada - Yukon address
CMA members in a letter that accompanied the annual dues
mailer. Copy of this letter is later added to the weblog. |
|
June 23rd, 2004 |
| |
CMA Canada begins a random poll of CMAs
across the country to learn more about what people think
about the proposed merger. |
|
June 24th, 2004 |
| |
Video clips from the June 16th townhall
session in Vancouver are added to CMA Canada - British
Columbia's weblog. These clips include responses to 42
questions from CMA members in attendance and speeches
by President Karen Botham of CMA Canada - British Columbia
and CEO Colin Bennett of CMA Canada - British Columbia. |
|
July 5th, 2004 |
| |
CMA Canada - British Columbia hosts a townhall
session in Castlegar. |
We rely on email to provide you timely updates quickly and
inexpensively. If you haven't been receiving regular email
from us since May or if you'd like to change the email address
we have on file, click
here to update your CMA membership record online or call
Member Services Representative Shobna Nand at 1.800.663.8715
or 604.687.5891or email Shobna@cmabc.com.
Go to the CMABC weblog
for updates and background information about the proposed
CMA/CA merger. To provide feedback about the CMA/CA merger
talks, contact us at future@cmabc.com
New Toolkit to help Partnership
between CFOs and Audit Committees
In the past in the United States as well as in Canada, there
has been minimal contact between the CFO and the audit committee.
Now, in the wake of corporate scandals like Enron and others,
CFOs and audit committees are increasingly contacting each
other on a daily basis. This relationship change is now affecting
the way that many corporations are being governed.
To help audit committees, the American Institute of CPAs
(AICPA) has created a how-to guide that is now available to
CMA members. The Audit Committee Toolkit includes checklists,
questionnaires, matrices and other materials that are designed
to help the audit committee do its job effectively.
For more information about the audit committee toolkit, call
the CMA Customer Service Centre at 1.877.262.6622 or email
orderdesk@cma-canada.org
CICA invites Public Comment on the Future Directions of Canadian
Accounting Standards
Interested in the direction of financial reporting in Canada?
The Accounting Standards Board at the Canadian Institute of
Chartered Accountants (CICA) is inviting public comment. This
Board intends to test some of the directions that it published
in its 1998 report.
Those directions included issues concerning whether Canada
should pursue any of the following:
|
Maintaining its standard-setting
capability. |
|
Maintaining its Generally Accepted
Accounting Principles (GAAP) or adopt either US GAAP or
International Financial Reporting Standards. |
|
Maintaining the current strategy
of working to support the international convergence of
accounting standards while harmonizing with US GAAP. |
|
Considering the modification
of current GAAP requirements to provide better information
to the users of financial statements of various different
types of entities. |
CICA will accept feedback until September 15th, 2004. To
request electronically a formal invitation from CICA to comment,
visit www.cica.ca/ed.
To request in writing a formal invitation from CICA to comment,
mail the Information Services Officer at CICA at 277 Wellington
Street West, Toronto, Ontario, M5V 3H2.
Blaine Manning joins the
Marketing Team as CMA Market Representative for the Okanagan
 CMA
Canada - British Columbia is pleased to announce the appointment
of Blaine Manning to the role of Market Representative for
the Okanagan. After graduating from the Okanagan University
College in 2000, he held a number of finance and management
roles at various Kelowna-based businesses and even owned his
company for a time. Blaine completed the CMA Strategic Leadership
Program in June and now makes Kelowna his home.
In his role as the Market Representative for the Okanagan,
Blaine will help educate business students and faculty in
the area about the CMA designation and programs. He looks
forward to working closely with the Okanagan Chapter of CMA
Canada - British Columbia as well as business students at
local post-secondary institutions who are serving as CMA student
reps on campus. Blaine is also available to meet with CMA
members in the area who want help in educating their employer
about current CMA programs.
If you're living in the Okanagan, Blaine wants to hear from
you. You can email him at blainemanning@shaw.ca
or call 250.870.4474.
CMA Notebook
New BC Securities Act
When the new act goes into effect in British Columbia this
Fall, it will replace the existing 1996 Act and is intended
to improve investor protection and make raising capital easier
for BC business. The British Columbia Securities Commission
(BCSC)
has published for comment the proposed rules and other instruments
necessary to implement the new legislation later this year.
Those rules and instruments cover takeover and issuer bids,
exemptions for foreign market participants, mutual fund requirements,
and exemptions from periodic disclosure requirements for non-redeemable
investment funds. Click
here to learn more or to comment on these rules and instruments
by August 23rd, 2004.
Cost and Margin Management Practices
in Canada: a Benchmarking Study
The CMA International Centre (CMAIC) of HEC Montréal
is conducting a research study to determine the profitability
of cost and margin management practices in Canada. Researchers
at HEC Montréal intend to identify the costs and margins
set by companies in Canada, the techniques they use to calculate
these costs and margins, and the benefits derived by their
use. As a CMA member, you can participate in the study by
clicking
here. The deadline for participation
in this study has been extended to
August 31st, 2004. Following a compilation of the responses
that participants provide, HEC Montréal will provide
all study participants with a copy of the report free of charge.
For more information about this study, contact Valérie
Allard at 514.340.6047.
CMAs who are practising public accounting
By BC provincial law, CMAs who are practising public accounting
must apply for registration in public practice at CMA Canada
- British Columbia and obtain professional liability insurance.
To confirm that you are registered or to apply, you can either
update the CMA membership profile form that was mailed to
you in June or contact Sandra Record at 604.484.7006 or email
her at sandra@cmabc.com.
To learn more about the legal requirements of professional
practice, refer to the Section 400 Series in your Rules
of Professional Conduct.
January 2005 intake for the CMA FastTrack
Program
Langara College and BCIT will offer the CMA FastTrack
Program this January. Available via distance education and
weekend or weekday classroom sessions, this condensed 10-month
program helps individuals to prepare and qualify for the CMA
National Entrance Exam. CMA students without degrees who are
admitted into January 2005 admission for the program will
be able to qualify for the last National Exam without a degree
requirement. Effective for the October 2006 National Exam,
all first time writers will need a degree as well as successful
completion of the courses covering the 18 CMA syllabus topics.
Policy Change for CMA National Entrance
Exam
Under the existing policy, CMA students who fail the CMA National
Entrance Exam three times can re-qualify for two more attempts
by successfully completing the CMA FastTrack Program.
Effective for the October 2004 CMA National Entrance Exam,
this policy will change. At that time, all CMA students can
challenge the National Exam only twice. A third attempt may
be requested under appeal. More information about this upcoming
policy change, prospective and existing CMA students can click
here.
2004 Convocation Ceremonies
CMA Canada - British Columbia will welcome 245 new graduates
into certified membership at Vancouver's Hyatt Regency Hotel
during the Convocation Ceremonies beginning at 2 pm on Saturday,
October 16th. For more information about this year's event,
call Lina Melo at 604.484.7007 or email lina@cmabc.com
Members on the Move
Congratulations to these members of CMA Canada - British
Columbia who have been recently promoted or accepted a new
career opportunity:
 |
Wayne Solomon, CMA, Chief Financial Officer, Fort Nelson
First Nation, Fort Nelson
|
Have you made a career move? Do want you a news release issued
to the media in your community? Email Kim Willoughby at kim@cmabc.com
New Members of the Certified
Management Accountants of British Columbia
Welcome to these CMAs who have recently become members of
CMA Canada - British Columbia:
|
Michael B. Chew,
CMA, Westbank |
|
Charles C. Clark,
CMA, Fort Nelson |
|
Trevor S. Giles,
CMA, Nelson |
|
Kien Thoai Gip,
CMA, Vancouver |
|
Wallace H. Grue, CMA, Kelowna
|
|
Bert W. Harding,
CMA, Qualicum Beach |
|
Odetta Lee, CMA,
Shatin, Hong Kong |
|
Miranda Liu, CMA,
Surrey |
|
Derek Tan Sheung
Ma, CMA, Hong Kong |
|
Darlene J. Masuak, CMA, Boswell
|
|
Jane Peverett, CMA,
FCMA, West Vancouver |
|
Judy Smith, CMA,
Port Coquitlam |
|
L. Lawrence Spetz,
CMA, Qualicum Beach |
|
Josephine Wirth,
CMA, Crawford Bay |
Our Members in Memoriam
The Certified Management Accountants of British Columbia
wish to extend their sympathies to the families and friends
of the following members who have recently passed away:
 |
Gordon J. Anderson, CMA (1971),
CGA, Port Coquitlam |
|
Delmar S. Birtch, CMA (1969),
Summerland |
|
George W. Chesters, CMA (1968),
Victoria |
|
Younne Wan-Yuk Ho, CMA (1996),
Richmond |
|
Curtis Rice, CMA (1984), FCMA,
North Vancouver |
|
John A. Roncalio, AAT, Lethbridge |
CMA Membership
Terminations, Resignations, and Reinstatements
| The following
members have not complied with continuing professional
development requirements and have had their certified
memberships terminated in
accordance with bylaw 10.06. These individuals
may no longer use the CMA designation: |
|
Sydney Baker, Maple Ridge |
|
Mark Phillips, Kelowna |
|
Jim Senay, Burnaby |
|
Yuk Tsang, Hong Kong |
| The following
member has not complied with professional liability requirements
and has had his membership terminated
in accordance with bylaw 2.28
effective June 5th, 2004: |
|
Donald Marsh, North Vancouver |
| The following
members have resigned their
certified membership in accordance with bylaw 3.09 and
may no longer use the CMA designation: |
|
Margaret Babcock, Surrey |
|
Bill Lockie, Salmon Arm |
| The following
member has resigned from
technologist membership in accordance with bylaw 3.09
and may no longer use the AAT (Associate Accounting
Technologist) designation: |
|
Glenna Mitchell, Surrey |
| The following
member has been reinstated
as a certified member in accordance with bylaw 3.09: |
|
|
Edward Browne, Vancouver |
|
