The Accounting Profession is going through an evolution, and maybe even a revolution. This Group is for you if you are a Social Media Accounting (R)evolutionary.
Social Media tools are changing how Accounting Professionals learn and communicate with their clients, employers, the general public and their fellow professionals.
I believe there is value in having a forum for Accountants to discuss the W5s of Social Media and how it affects them. This has led me to create a new LinkedIn Group call Social Media Accountants.
If you believe that there is value in having a forum for this topic, please join and participate in the group, and ask others that are social media active to do the same.
I’m looking forward to your participation.
Showing posts with label CICA. Show all posts
Showing posts with label CICA. Show all posts
Friday, November 26, 2010
Tuesday, November 9, 2010
Corporate Social Responsibility – Is it the CFOs Mandate?
In business today, we are hearing a lot about Corporate Social Responsibility (CSR). CSR includes all aspects of being a good corporate citizen, which is a pretty wide mandate.
What is the CFOs role with CSR?
Corporate Social Responsibility is a vision from the top. This vision should be set by the board and the CEO, with input from important stakeholders, including employees and shareholders. CSR Vision may not be the CFOs role, but reporting about CSR issues seems to be falling on to the CFOs desk.
Examples of CSR issues falling on the CFOs desk include:
Securities Regulations – With the CFO being responsible for shareholder communication, Securities Regulators are continuing to add disclosure requirements. The most recent example in Canada is CSA Staff Notice 51-333 on Environmental Reporting (See Ernst & Young’s recent Financial Reporting Alert)
Financial Statement Impact – CSR issues, specifically environmental issues, have a Financial Statement impact and needs to ensure these risks are properly recorded and disclosed in the financial statements.
Good Governance – Being a good corporate citizen requires appropriate governance. As CFO, you have been dealing with Sarbanes Oxley reporting for the past years. CFO Certification is a product of CSR.
Is CSR the CFOs mandate?
No, but it does add to the work load. As a leader in your organization, it is important that you take a leading role in CSR issues. The challenge that many CFOs face in this area is that they do not really understand what the issues are.
Education is the key.
As CFO, being aware and intelligent on CSR issues will help your company and your career. I highly recommend that you add CSR to your continuing education portfolio. A great example of this is the CICA Conference on Environmental, Social and Governance Issues, being held in Toronto on December 6 – 7, 2010.
Add your voice to the CSR conversation.
As a leader in your company, do not shy away from CSR issues. Listen, attend meetings and share your input. CSR affects you. Contribute to the conversation.
What is the CFOs role with CSR?
Corporate Social Responsibility is a vision from the top. This vision should be set by the board and the CEO, with input from important stakeholders, including employees and shareholders. CSR Vision may not be the CFOs role, but reporting about CSR issues seems to be falling on to the CFOs desk.
Examples of CSR issues falling on the CFOs desk include:
Securities Regulations – With the CFO being responsible for shareholder communication, Securities Regulators are continuing to add disclosure requirements. The most recent example in Canada is CSA Staff Notice 51-333 on Environmental Reporting (See Ernst & Young’s recent Financial Reporting Alert)
Financial Statement Impact – CSR issues, specifically environmental issues, have a Financial Statement impact and needs to ensure these risks are properly recorded and disclosed in the financial statements.
Good Governance – Being a good corporate citizen requires appropriate governance. As CFO, you have been dealing with Sarbanes Oxley reporting for the past years. CFO Certification is a product of CSR.
Is CSR the CFOs mandate?
No, but it does add to the work load. As a leader in your organization, it is important that you take a leading role in CSR issues. The challenge that many CFOs face in this area is that they do not really understand what the issues are.
Education is the key.
As CFO, being aware and intelligent on CSR issues will help your company and your career. I highly recommend that you add CSR to your continuing education portfolio. A great example of this is the CICA Conference on Environmental, Social and Governance Issues, being held in Toronto on December 6 – 7, 2010.
Add your voice to the CSR conversation.
As a leader in your company, do not shy away from CSR issues. Listen, attend meetings and share your input. CSR affects you. Contribute to the conversation.
Monday, October 4, 2010
Are you ready to give up your CA for a CPA?
If you are a Canadian CA, there is a good chance you worked hard for it, and are quite proud of the designation. I know I worked hard for it, and I am proud CA.
Buried in my emails recently I found a letter from Bill MacKinnon, FCA, Chair of the CICA Board of Directors discussing two points of concern for the future of our profession that came up out of a recent meeting of leaders’ of our profession.
The first point of concern for our leaders, which addresses “Pathways into the CA Profession in Canada” is continuing down the slippery slope that was created when the CICA started accepting training for new professionals outside of an audit firm environment. While I do have concerns in this area, this is currently overshadowed the 2nd point of concern – A Canadian CPA. (Click here to view the new logo).
Yes. That’s right. The leaders of our profession are considering a Canadian CPA designation.
As a CA, I have been proud of the efforts in past years to brand the CA designation as the premier accounting designation in Canada (and the world). Now it seems that globalization of the accounting profession (which most recently has Canadian GAAP being replaced by International GAAP – IFRS) has made our leaders hedge our bets on our historic name and brand, just in case we need to “start consolidating into one or two global professions”.
What the future holds for Canadian CAs and the constituents we serve is currently unclear. It is not clear as to whether we can currently call ourselves CA, CPA or both together.
A few years back when the profession in its wisdom wanted to merge with the other accounting professions in Canada, our members were very clear that it was not what the grass roots members wanted.
My initial reaction to this development is: “I’m not interested, but I am willing to listen - you’ll have to convince me.” I believe that many CAs will have the same reaction. I hope that the leaders of our profession ensure that they properly consult with the CA members across the country, and not just make an administrative decision that deeply affects our attachment to our profession and to our brand.
What is your reaction?
Buried in my emails recently I found a letter from Bill MacKinnon, FCA, Chair of the CICA Board of Directors discussing two points of concern for the future of our profession that came up out of a recent meeting of leaders’ of our profession.
The first point of concern for our leaders, which addresses “Pathways into the CA Profession in Canada” is continuing down the slippery slope that was created when the CICA started accepting training for new professionals outside of an audit firm environment. While I do have concerns in this area, this is currently overshadowed the 2nd point of concern – A Canadian CPA. (Click here to view the new logo).
Yes. That’s right. The leaders of our profession are considering a Canadian CPA designation.
As a CA, I have been proud of the efforts in past years to brand the CA designation as the premier accounting designation in Canada (and the world). Now it seems that globalization of the accounting profession (which most recently has Canadian GAAP being replaced by International GAAP – IFRS) has made our leaders hedge our bets on our historic name and brand, just in case we need to “start consolidating into one or two global professions”.
What the future holds for Canadian CAs and the constituents we serve is currently unclear. It is not clear as to whether we can currently call ourselves CA, CPA or both together.
A few years back when the profession in its wisdom wanted to merge with the other accounting professions in Canada, our members were very clear that it was not what the grass roots members wanted.
My initial reaction to this development is: “I’m not interested, but I am willing to listen - you’ll have to convince me.” I believe that many CAs will have the same reaction. I hope that the leaders of our profession ensure that they properly consult with the CA members across the country, and not just make an administrative decision that deeply affects our attachment to our profession and to our brand.
What is your reaction?
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