ICAA congratulates Lethbridge company on Small Business Award of Distinction

Carly Roemer CA, of the ICAA, presents the Small Business Award of Distinction to Cedar Ridge Quality Homes on March 4.

The Institute of Chartered Accountants of Alberta (ICAA) congratulates Cedar Ridge Quality Homes for being the 2011 recipient of the Small Business Award of Distinction, on March 4. This was the fourth consecutive year the ICAA has sponsored the award, which is presented at the Alberta Business Awards of Distinction, hosted by the Alberta Chambers of Commerce.

Cedar Ridge Quality Homes, based in Lethbridge, specializes in environmentally responsible new residential, commercial, and multi-family home construction. The company demonstrates a strong commitment to the Lethbridge community, having previously partnered with Lethbridge Housing to build affordable housing units, and spearheading the “Flip 4 Food” project, which saw the profits of a Cedar Ridge home sale donated to the Lethbridge Interfaith Food Bank.

For more information on the Alberta Business Awards of Distinction, visit www.abbusinessawards.ab.ca.

Merit Award recipients named

The ICAA is honouring 20 individuals with Merit Awards for making significant contributions to charitable and community causes, as well as the CA profession. There are four categories of Merit Awards—Early Achievement Awards, Distinguished Service Awards, Fellowship of the Chartered Accountants, and Lifetime Achievement Awards.

Highlighting the list of this year’s recipients is Doug Baker fca, of Calgary, who is receiving a Lifetime Achievement Award. Mr. Baker, who has a lengthy history of volunteering within the CA profession, recently completed a term as Chair of the Board of Directors of the Canadian Institute of Chartered Accountants. During this time he helped lead the profession through the much-publicized transition to International Financial Reporting Standards (IFRS). Mr. Baker has also served as Chair of the CA School of Business and as President of the ICAA.

"The ICAA is once again honouring an incredible class of Chartered Accountants for their tremendous and wide-ranging accomplishments," said Jane Halford ca, ICAA CEO & Executive Director. "Throughout the profession's history, CAs have been known for making a difference in Alberta's communities—and within the profession—and, as always, this year's recipients live up to that reputation."

All of the recipients will be officially recognized at the 2011 Merit Awards Gala, to be held on June 24 at the TELUS Convention Centre in Calgary.

ICAA using Innovation Fund grant to improve access for new Canadians

With the worldwide reputation of the CA title, it is not surprising that many new Canadians wish to pursue the designation as a career in their new country. Across Canada, the CA profession is developing programs and initiatives to simplify and speed-up the processes that newcomers need to follow in order to becoming duly-registered Chartered Accountants in Canada.

A major difficulty for many new Canadians is proper and speedy assessment and recognition of the qualifications they bring with them. With the help of a generous grant from the Government of Alberta’s Foreign Qualification Recognition Innovation Fund, the ICAA is developing a series of projects designed to assist new Canadians through the process.

In 2011, the ICAA will use its Innovation Fund grant to develop a website that will link new Canadians with employers – perhaps even before they arrive in Canada. This will be of great value to newcomers who need to do some on-the-job training to complete their CA education. It will also benefit employers, who can attract qualified applicants from a broader pool.

In Canada, all CAs are required to successfully write the Uniform Evaluation (or UFE) – a national, comprehensive examination – in order to attain their CA designation. Often, people holding foreign credentials or designations can go directly to the UFE-writing stage. Therefore, another Innovation Fund project for the ICAA in 2011 is the development and delivery of an online course to help new Canadians prepare to write the UFE. The course will focus on the skills and approaches needed to be successful with the UFE, but which are often not part of the educational systems used in other countries.

The ICAA’s Innovation Fund work in 2011 follows on the heels of a number of successful projects completed in 2010 that were supported by an earlier Innovation Fund grant.

“By introducing the Innovation Fund program, the Government of Alberta has clearly recognized the value of helping qualified new Canadians achieve their maximum career potential in our province,” said ICAA CEO Jane Halford ca. “We appreciate the support we have received from the fund, as it helps us make a direct and positive difference in integrating skilled and enthusiastic new Canadians into the CA profession.”

Recent CA graduates celebrate success

Mathew Burpee, of Calgary, was part of the most recent CA graduation class. Mathew was named the Western Regional Gold medalist for having the highest UFE mark in the CA School of Business Region.

In total, 479 Alberta writers passed the Uniform Evaluation—one of the world’s most rigorous professional examinations and a crucial step to becoming a chartered accountant—in late 2010. This was one of the largest graduation classes in ICAA history.

Alberta CAs volunteer for annual tax clinics

Throughout March and April the ICAA is coordinating chartered accountant volunteers to help low-income Albertans complete their tax returns free-of-charge. Clinics are held in Edmonton, Calgary, and surrounding areas and run in cooperation with seniors’ homes, community centres, and other not-for-profit agencies. In 2010, over 300 CAs, CA students and other professionals prepared over 2,400 income tax returns for those in need.

For the second consecutive year, the ICAA will also be hosting a tax clinic for the general public to help low-income Edmontonians with their 2010 tax returns. This clinic will take place March 26 at the Delta Edmonton Centre Suite Hotel in City Centre Mall, from 10 a.m. to 1 p.m. Certain restrictions do apply, and individuals must pre-register for the event as space is limited. For more information please visit the ICAA’s Tax Clinic webpage, or call 1-800-232-9406.

As a public service, the ICAA also provides tips designed to provide general advice to Albertans in tax planning and reporting. There are a total of 60 Tax Tips available for the 2010 reporting year. The tips are intended to be used as general guidance. For specific advice about filing your 2010 tax return, please consult with the Canada Revenue Agency or your personal tax professional.

Reciprocal membership MOU signed by CA Institutes of Canada and India

From left to right: CICA President & CEO, Kevin Dancey, ICAI Toronto Chapter Chairman, Rajneesh Sapra, ICAI Toronto Chapter Past-Chairman, Asger Khambati and CICA's Vice-President, Education, Tim Forristal, at the signing of the MOU between the CICA and ICAI.

“It is important to forge closer links with our CA colleagues in India with that country emerging as a significant presence in the global marketplace,” said Kevin Dancey, president and CEO, CICA. “Finding ways to help internationally trained professionals earn their Canadian CA fosters mobility and helps Canada attract the brightest and the best in today’s global economy. Our profession is known as a leader in international labour mobility and in foreign credential recognition.”

ICAA guest column provides tips on interpreting provincial budget

The ICAA’s CEO, Jane Halford ca, recently had the chance to speak directly to Edmontonians and other Albertans about how to read and interpret the new Alberta provincial budget.

On behalf of Alberta’s CAs, Jane penned a guest column titled “A reader’s guide to Alberta’s upcoming budget,” which appeared in the February 14 Edmonton Journal. The piece provided readers with some tips and insights into the budget reporting process used by the Government of Alberta, and how to find and interpret the wealth of information contained in the budget documents.

The column didn’t take a stand on budget issues, but instead focused on providing information about the budget documents so that readers could draw their own conclusions. “As we noted in the column, the government’s budget process, and the reporting standards it uses in its budget documents, make it easy for any reader to understand the government’s budget priorities and directions,” said Jane. “The ICAA felt it was worthwhile to point this out to Journal readers, and also to provide some context to explain the jargon and concepts that we all hear in the media around budget time.”

Even though the provincial budget has since been tabled in the Legislature, the column is still a timely read for those interested in the budgeting process. To read the full column, please click here.

www.albertaCAs.ca

The Institute of Chartered Accountants of Alberta (ICAA) is the self-governing body which regulates approximately 12,000 Alberta CAs and CA students. The ICAA protects the public by setting the most rigorous qualification criteria, and establishing and enforcing the highest professional, ethical and practice standards. CAs play key roles within diverse segments of the economy, including public accounting, business, not-for-profit organizations, and government. Recognized internationally, the CA designation denotes superior financial expertise, strategic thinking, business insight and leadership.

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