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The CA profession enjoys a long and eventful history in Alberta. The following listing reviews highlights of that history, from the date of inception for the ICAA to the present day.
On November 18, Honourable John Robert Doyle, the Liberal member for Sturgeon, introduced a private member's bill into the provincial legislature, on behalf of the Institute's pioneers. Royal assent for the creation of the Institute was given on December 16. The ICAA had 11 founding members. In 2010, the ICAA will celebrate its centennial anniversary and 100 years for the CA profession in Alberta.
1916 Articling introduced. Students required to article for four years with a chartered accountant and register with the ICAA as a "student-at-accounts."
Office operations get a boost. After borrowing supplies from the University for years, the ICAA finally purchases its first office equipment--a desk for $65 and an Underwood typewriter for $132.55.
Membership reaches 100 and fees are raised to $30 for a resident practising member. Harry Eastwood Howard FCA is President. Black Monday signals the beginning of the Great Depression.
ICAA decides to recommend a prescribed course of study for students--the Queen's University correspondence course.
1939 Alberta students score well on the first Uniform Final Exam (UFE).
1940 Membership reaches 150, representing an increase in national power--Alberta sends three voting representatives to the annual meeting of the Dominion Association of Chartered Accountants.
The end of the Second World War marks the beginning of profound growth for the ICAA and the entire profession of accounting.
Dorothy Reid becomes the first female Alberta CA.
1950 ICAA membership reaches 250. James Laurie Kergan FCA is President.
Council places the first advertisement of successful UFE candidates in the newspapers.
1956 Members vote to make it mandatory to pay articling students at least $100 a month. ICAA membership reaches 500. John Peter McClary FCA and Clarence Richards FCA are President.
The annual meeting sees the election of the first 12-member Council--up from nine members last year.
The Alberta CA profession celebrates its fiftieth anniversary by hosting the national annual conference in Banff.
ICAA membership reaches 1,000. Fay Anderson FCA is President.
A group of Edmonton CAs, led by Elvin Christenson FCA, forms the Pacioli Dining Society.
ICAA membership reaches 2,000. Bill Davis FCA is President.
Membership reaches 3,000. Jack McMahon FCA is President.
Membership approves a mandatory practice review program.
The ICAA makes its first formal statement on a public issue--in response to the National Energy Program announced in the 1980 federal budget.
The Chartered Accountants' Education Foundation (CAEF) is established to advance exciting education initiatives for the Alberta CA profession.
ICAA membership reaches 4,000. Jack Cuthbertson FCA is President.
1986 The first public representative, Ralph A. Thrall Jr., of Lethbridge, is appointed to Council.
The CA Act receives royal assent. ICAA membership reaches 5,000. Bill Halford FCA is President.
1988 The CAEF launches the funding for the CA Chair at the University of Alberta.
Dr. Lane Daley CPA becomes the first professor to hold the prestigious CA Chair at the University of Alberta.
1993 The Uniform Final Exam Gold Medal is renamed the Francis G. Winspear FCA Gold Medal of Excellence and Michael Arends CA is the first recipient.
The CICA launches a new branding strategy, "Strength beyond numbers." Alberta membership reaches 6,000. Al Holt FCA is President.
The report of the Inter-Institute Vision Task Force is released. With its new vision for the future of the profession, the report signals the beginning of the profession's most ambitious undertaking to date--redefining what it means to be a CA in Canada.
1997 Ann Rooney FCA of Calgary becomes ICAA's first female President following in the footsteps of her father, John Rooney FCA, who served as President in 1968. ICAA streamlines its governance processes, eliminating standing committees, except for peer review groups, and eliminating the second vice president position on Council and the Executive Committee.
Lifetime Achievement Awards are added to the prestigious Merit Awards Program. First to be honoured are Elvin Christenson FCA, Eric Geddes FCA, Doug Hagerman FCA, and Jim Miller FCA. ICAA also joins other provincial Institutes and the CICA in signing the historic Protocol Agreement, outlining a new governance structure between the Institutes.
Alberta becomes the second province to achieve limited liability for its accountants, granting partners protection from personal liability for the negligence of others.
In the year of its ninetieth anniversary, ICAA attains several milestones--membership reaches 7,000, the Western Provinces launch the CA School of Business, and Continuing Professional Education, demonstrating dedication to lifelong learning, becomes mandatory.
ICAA continues its strong role in national education reform by responding to CICA's report on Competency-based Qualification, and making recommendations on evaluation and transition processes for CA candidates.
The University of Calgary and ICAA establish the Richard F. Haskayne OC FCA Chair in Accounting, endowed at over $3.1 million with a leading contribution of Mr. Haskayne and support from CAs and firms throughout the province.
Democratic governance of the profession marks a milestone with the launch of a new online voting option for members.
ICAA honours prominent CAs and business leaders at the Merit Awards Gala, reflecting the leadership Alberta CAs show as business innovators as well as dedicated volunteers in their communities.
Top business leaders from around the province, and the nation, gather in Calgary for Celebrating Alberta CAs to mark the milestones of Alberta's CA profession.
The Regulated Accounting Profession Act (RAPA) replaces the CA Act. RAPA is designed to further protect the interest of the public and the integrity of the profession.
ICAA says goodbye to CA Monthly Statement and prepares to launch several new exciting Member Communications vehicles, including Spotlight--a quarterly glossy magazine showcasing Alberta CAs, a revamped website, and WebLink--a news digest and web guide.
Enron collapses in the largest business failure in corporate history, resulting in thousands of employees losing their life savings and the eventual dissolution of Big Five accounting firm Arthur Andersen. This and subsequent business scandals by WorldCom, Tyco et al lead to public disillusionment in capital markets. CA profession responds swiftly to restore public confidence by introducing stringent new standards and governance reform.
Federal and provincial regulators and Canada's chartered accountants announce the creation of the Canadian Public Accountability Board (CPAB), an independent public oversight body for auditors of public companies.
Executive Director Steve Glover MBA FCA and President Doug Baker FCA conduct province-wide speaking tour regarding the post-Enron environment and the actions undertaken by the CA profession to restore public confidence.
ICAA participates in the province-wide Future Summit 2002, and provides a submission to the Minister of Revenue, titled "A Stable Plan for Managing the Province's Finances." The financial report from the Financial Mangement Commission builds on key ICAA recommendations.
ICAA invests in the future of financial reporting by directing $250,000 to support education and other initiatives in financial reporting and auditing through the Chartered Accountants Education Foundation (CAEF).
ICAA launches a trio of new communication vehicles including the new website, its companion monthly print piece Weblink and a quarterly magazine Spotlight. The three elements support a revamped and refocused communications program to better serve and inform the public and members.
A record number of CAs and CA students, 262, are honoured at the 2002 Graduation Ceremonies in Calgary and Edmonton for their success in completing the final educational hurdle to becoming CAs. The Winspear Gold Medal is won by Nicole Workman of Calgary.
First CASB students to write the national UFE achieve an exemplary pass rate of 83%--the highest in all of Canada--marking the success of the innovative CASB program, launched in June 2001.
Steve Glover named as chair of national Strategic Planning Task Force.
Gord Stephenson CA was named the new chair of the Chartered Accountants Education Foundation. He had been a member of the CAEF since 1999 and had previously acted as a member of the Foundations Audit Committee.
The ICAA created a task force to study and provide commentary on the International Federation of Accountants (IFAC) Exposure Draft on Audit Risk and Associated Areas. The task force was created with the intent of submitting critique of the draft to both the CICA and IAASB.
CASB modified its admission requirements for mature students, changing the GMAT requirement from 600 to 550.
Thirty-three students graduated with the first-ever specialist designation in investigative and forensic accounting, the CA*IFA.
Strategic Planning Task Force announces new national strategic plan articulated in Crossroads for the CA Profession. Task forces established and charged with developing and implementing a new branding strategy; a new education model to include training in industry; enhanced member relations; and the ongoing building of the public trust.
CAs and CMAs of Canada enter merger discussions. Vision is for new 100,000-member body that would provide combined CA and CMA expertise in corporate governance, financial management, management accounting, tax, audit and assurance, delivered according to one high professional standard.
Steve Glover honoured for 25 years of service to CA profession, provincially, nationally and internationally at CAEF fundraising dinner. Proceeds from evening and additional donations top $200,000 to establish the Steve Glover MBA FCA Fund for Accounting Education as a lasting tribute to Steve.
2005 Following extensive consultations with CAs and their governing bodies across the country, CA/CMA merger talks halted. Despite benefits acknowledged by both associations, agreement on key issues is not reached.
Implementation of strategic plan in four action areas of branding, education, member relations and public trust continues unabated.
Alberta membership reaches 8,000.
The ICAA announces the appointment of Jane Halford CA to the position of CEO & Executive Director.
The CICA and CMA Canada announced a decision to discontinue discussions of a merger of the CA and CMA professional organizations.
CASB announced John D. Gunn, MEd, FCA as their new CEO.
An Alberta CASB student, Kevin Johnston, earned the national Governor Generals Gold Medal for receiving the highest standing in Canada on the UFE.
New reciprocity agreements were reached between the CAs of Canada, Hong Kong and the United Kingdom, meaning CAs in each of those countries will recognize each others designations. All PICAs under the umbrella of the CICA already had existing reciprocity agreements with New Zealand, France, Australia, Japan, the United States and Mexico.
2006 The Accounting Standards Board ratifies a new strategic plan for the future of Canada's accounting, including a key decision to adopt international accounting rules for Canada's publicly traded companies.
The Public Trust Task Force brings forward important changes to adopt uniform minimum requirements across the country for continuing professional development and professional liability insurance.
The ICAA Council, along with all other PICA/Ordre Councils, approves changes to experience requirements for qualifying CAs that allow CA firms to create training positions in areas in addition to audit and assurance and allow carefully selected corporations and government departments to be recognized as approved training offices.
Kevin J. Dancey FCA is named President and CEO of the CICA. Dancey, former CEO of PWC Canada, succeeded David W. Smith FCA.
The CICA joined eight of the world's leading accounting organizations to form the Global Accounting Alliance (GAA) to promote quality professional services, global membership support, share information and collaborate on important international issues. Other associations from across the world entered the Alliance, including those from the US, Hong Kong, Australia, England and Wales, Ireland, Scotland, New Zealand and South Africa.
A total of 11 Alberta students were named to the National Honour Roll, which consists of the 60 top UFE achievers across the country. A total of 281 Alberta writers passed the UFE, pushing the ICAA membership to 9,700 CAs and CA students.
A national advertising campaign was launched across Canada. It is the first national/provincial fully-integrated, multi-media campaign funded through shared CICA/PICA costing. The campaign includes TV advertisements and is estimated to cost $20 million over a four-year period. Market and member research following the launch indicates a high rate of acceptance and relevance to the campaign, running under the banner of The CA Advantage.
2007 A new logo was launched to represent Canada's Chartered Accountants. It signals the first logo change since the mid-1990s, and is designed to reflect the leadership and value provided by the 72,000 CAs and 10,500 CA students across Canada and Bermuda.
The ICAA honoured 22 Alberta CAs for significant contributions to the CA profession, as well as civic, charitable, and other community causes at the annual Merit Awards. Ken Biggs FCA received a prestigious honour, a Lifetime Achievement Award. Only 20 LAAs have been awarded since 1998.
The CICA announced the development of a simplified accounting framework, based on accounting and financial reporting standards in the CICA Handbook. This project will be tailored to Canada's 1.7 million owner-manager businesses, including many Alberta CAs.
Canada's CAs created new guidelines to help CEOs meet their obligation to certify the quality of their company's internal controls. CEOs of all public Canadian companies are required to certify the design of internal controls over financial reporting (ICFR). The guidance is called Internal Control: The Next Wave of CertificationHelping Smaller Public Companies with Certification and Disclosure about Internal Control over Financial Reporting.
The ICAA moves to an e-based monthly member communications platform by launching Link, and thus replacing five-year-old print newsletter Weblink and the traditional monthly mailing package.
The CICA launched Transition to International Standards, a website to provide easy access to information about Canadas changeover to International Financial Reporting Standards (IFRS). The new rules, set to come into effect in 2011, will have a significant impact on financial reporting for all publicly accountable enterprises, including Canadas 4,500 publicly listed companies. Privately owned companies can choose to use IFRS, but will not be required to do so. The website also features information and learning about the transition to International Standards on Auditing, which come into effect December 15, 2009.
Ian McDonald CA is appointed the new chair of the Chartered Accountants Education Foundation (CAEF). In addition, 2007 represents the 25th birthday of the CAEF. During this time it has provided more than $10 million to further accounting education and uphold the premium CA brand.
The expansion of pre-qualification education is approved by the ICAA members. The passing of these amendments to the bylaws expands the range of training environments for CA students while maintaining the profession’s high qualification standards; allows CA firms to seek approval to create training positions in areas in addition to audit and assurance; and allows selected approved corporations and government departments to be recognized as CA Training Offices under strict criteria. Early adopters of the program are TELUS and Nexen.
2008 The Canadian Accounting Standards Board announces 2011 as the changeover date for publicly-listed companies to use IFRS, replacing Canada’s own GAAP. The date is for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. The CICA called the confirmation of the changeover date good news for the business community and investors.
The total number of CAs and CA Students in Alberta exceeds 11,000. With just over 9,000 members and 2,000 students, the ICAA in on track to rank as the largest Institute in the West, surpassing the ICABC for the first time in close to 100 years. An exceptional economic growth-rate in Calgary has largely fueled the accelerated growth of the past two years.
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