Showing posts with label Canada. Show all posts
Showing posts with label Canada. Show all posts

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?

Monday, September 20, 2010

Canadian CFOs on the Move – week ended September 17, 2010

Ram Power, Corp. (TSX: RPG) announced the appointment of John O'Neill as Vice President and Chief Financial Officer. Mr. O'Neill will take over as Chief Financial Officer from Paul Zavesov, who will be transitioning to a senior role in Business Development. Mr. O'Neill previously worked with EGB Consulting, Homeland Renewable Energy, Environmental Power Corporation, Constellation NewEnergy, and KPMG.

Maple Leaf Reforestation Inc. (TSX-V: MPE) announced that Daniel Chu has resigned as Chief Financial Officer ("CFO") and Director. Mr. Chu’s vacancy as Maple Leaf’s CFO and Director will be filled by Mr. Derek Liu.

Green Swan Capital Corp. (TSX-V: GSW.P) announced the appointment of Daniel Hilton as Director and CFO. Daniel is currently Executive Director of the Conservative Party of Canada. He was previously the Director of Finance and Administration, Research and Development for World Heart Corporation and a co-founder and CFO of Kids Futures Ltd. Daniel was formerly the Vice-President Finance and Technology and Senior Vice-President, Corporate Development & Administration of Enablence Technologies Inc.

Equal Energy Ltd. (TSX: EQU, NYSE: EQU) announced that Dell Chapman has been appointed Chief Financial Officer. Mr. Chapman was most recently the Vice President, Finance and Chief Financial Officer of Berens Energy Ltd. Prior to that, he held various senior finance positions with a number of oil and gas companies, including Suncor Energy Inc. and Gulf Canada Resources Limited.

Canada Lithium Corp. (TSX: CLQ; U.S. OTCQX: CLQMF) announced that Germaine Coombs, formerly Corporate Controller with FNX Mining Company, has joined as Chief Financial Officer. Prior to FNX Mining, Ms. Coombs worked with Iron Ore Company of Canada.

White Pine Resources Inc. (TSX-V: WPR) announced the appointment of Michael G. Leskovec to the position of Chief Financial Officer, replacing Mario Miranda. Mr. Leskovec is the Financial Control Officer of Northfield Capital Corporation, a publicly traded, TSX-V listed investment holding company with investment interests primarily in the resource sector. Previously, Mr. Leskovec was Corporate Controller and an Officer of Andina Minerals Inc., Controller and an Officer of Gold Eagle Mines Ltd., and Audit and Assurance Manager at Smith Nixon LLP.

SAND Technology Inc. (OTCBB: SNDTF.OB) announced that Bruno Martel, previously announced as incoming Chief Financial Officer, will no longer be joining the company.

Palko Environmental Ltd. (TSX: PLK) announced the appointment of Corey Zahn as VP Finance and Chief Financial Officer, replacing the interim CFO, Susan McClinton. Mr. Zahn's latest position was VP Finance and CFO with Century Oilfield Services Ltd., which was recently acquired by Calfrac Well Services Ltd. Prior to this, Mr. Zahn worked with KPMG LLP as a Senior Manager.

Feronia Inc. (TSX-V: FRN) announced the appointment of Georgina Cotton as Chief Financial Officer.

WebTech Wireless Inc. (TSX: WEW) announced that Andrew Morden, has been appointed as Chief Financial Officer. Mr. Morden previously worked with Intrinsyc Software and Digital Dispatch Systems, Internet Marketing Center, Intrawest Corporation, SAP Canada and KPMG.

Bitterroot Resources Ltd. (TSX-V: BTT) announced the appointment of Barney Magnusson as its Chief Financial Officer. Mr. Magnusson is currently a director of SilverCrest Mines Inc. and Goldsource Mines Inc.

Romarco Minerals Inc. (TSX-V: R) announced that Fraser Sinclair has resigned as Senior Vice President and CFO of Romarco Minerals effective October 8, 2010. Joe Romagnolo, the Company's Corporate Controller, has been appointed Interim CFO.

Antioquia Gold Inc. (TSX-V: AGD) announced the appointment of JoAnne Dorval-Dronyk as its Chief Financial Officer (CFO). Ms Dorval-Dronyk replaces Robert C. James who left the Company.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Monday, September 13, 2010

Canadian CFOs on the Move – week ended September 10, 2010

Provident Energy Trust (TSX: PVE.UN, NYSE: PVX) announced that Brent Heagy has been appointed Senior Vice President, Finance and Chief Financial Officer ("CFO") effective October 1, 2010. Brent will succeed Mark Walker who, as previously announced, will be stepping down from the role effective September 30, 2010. Mr. Heagy was most recently Chief Financial Officer of a Calgary based mid-sized Energy Trust. Prior to that, he was Chief Risk Officer for EnCana Corporation in Calgary, Chief Financial Officer for PanCanadian Energy Corporation's US operations based in Houston, Texas and began his career with Coopers & Lybrand in Calgary.

Catch the Wind Ltd. (TSX-V: CTW) announced that Robin Roge has been appointed as interim Chief Financial Officer of the Company, succeeding David Samuels. Since 2009, Robin has served as Director of Accounting of the Company and has performed its Controller function.

NexGen Financial LP announced that Abe Goenka has been appointed as Senior Vice President and Chief Financial Officer adding to his current responsibilities as Chief Operating Officer. Moira Saganski, a founding shareholder of NexGen, has relinquished her CFO responsibilities and will continue to work with the firm in fund administration.

Corvus Gold Inc. (TSX: KOR) announced the appointment of Michael Kinley as Chief Financial Officer of the company. Michael started his career with KPMG, where he became a partner in 1981. Since 1993, Mike has been the president of Winslow Associates Management & Communications Inc., a private consulting firm which provides accounting and regulatory support services to junior public companies.

Silver Dragon Resources Inc. (OTCBB: SDRG.OB) announced the appointment of Jeffrey D. Sherman as Chief Financial Officer and Corporate Secretary. He is a director of several companies, as well as chief financial officer of a TSX-listed company.

Pioneering Technology Corp. (TSX-V: PTE) announced that Peter Knee has been appointed as Chief Operating Officer and Chief Financial Officer of the Company. He most recently served as CFO for Citicapital, a large equipment finance company wholly owned by Citigroup until its recent sale to GE Capital

Intermap Technologies Corporation (TSX: IMP) announced the resignation of Brian Musfeldt from the positions of Chief Financial Officer and Vice-President.

Avante Security Corp. (TSX-V: ASY) announced that Raghu Sampath was appointed Chief Financial Officer of the Corporation. Prior to joining Avante, Mr. Sampath spent seven years at Sapphire Technologies Canada (formerly CNC Global limited), Canada's largest IT Staffing Company where he was responsible for all finance and accounting functions of the company.

Vivonet Inc. announced the appointment of Jim MacCallum as Chief Financial Officer. Jim will be replacing Kevin Falk, who assumed the role of interim Chief Finance Officer in October 2008. Kevin has transitioned into the role of Chief Product Officer at Vivonet. Prior to joining Vivonet, Jim was Vice President of Finance for Absolute Software (TSE:ABT). He has also held similar positions at Cisco Systems Inc. (NASDAQ:CSCO) as Controller, Global Customer Financial Services and at PMC-Sierra Inc. (NASDAQ:PMCS) as Controller of Operations.

Cequence Energy Ltd. (TSX: CQE) announced the appointment of David Gillis as Vice President, Finance and Chief Financial Officer.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Monday, August 30, 2010

Canadian CFOs on the Move – week ended August 27, 2010

Anvil Mining Limited (TSX, ASX: AVM) announced the appointment of Philippe Monier as its Vice President Corporate and Chief Financial Officer, effective October 1, 2010. Philippe will succeed Lui Evangelista who has been Acting CFO since the retirement of Craig Munro earlier this year. Philippe's previous CFO positions include Bateman Engineering, Dynatec and BHPBilliton Base Metals. Prior to this, Philippe's experience includes nine years with Lehman Brothers Energy Group, finishing as Senior Vice President of the oil services franchise.

3P International Energy Corp. (TSX-V: DOH) announced the appointment of Wally Rudensky as Chief Financial Officer. Mr. Rudensky is President of DFF Management Inc., a private company providing financial management and governance services to Canadian and U.S. listed companies.

AM Gold Inc. (TSX-V: AMG, FRANKFURT: AMX) announced the appointment of Mark Lawson to the position of Chief Financial Officer. Mr. Lawson joined AM Gold's Board of Directors on June 21, 2010. Mr. Lawson worked as an investment banker with Morgan Stanley in New York from 2005 until 2008 where he was involved in the execution of over $6 billion worth of mergers and acquisitions, $8 billion worth of debt offerings and $500 million of equity financings. Mr. Lawson was previously a Director of a boutique corporate finance firm in Toronto, Canada.

Cordy Oilfield Services Inc. (TSX-V: CKK) announced that Matt Braaten has been appointed Cordy's Interim, Chief Financial Officer. Mr. Braaten, who joined Cordy in April, is a designated Chartered Accountant.

Great Canadian Gaming Corporation (TSX: GC) announced that Milton C. Woensdregt has resigned as Chief Financial Officer of the Company effective August 19, 2010. Kiran Rao, currently the Company's Vice President of Corporate Finance and Controller, has been appointed as Interim Chief Financial Officer, effective immediately. Mr. Rao, an employee of the Company since 2006, is a Chartered Accountant who possesses more than a decade of both domestic and international experience in corporate finance and accounting.

Maestro Ventures Ltd. (TSX-V: MAP) announced the resignation of Mark Achtemichuk, its CFO. He is being replaced by the Company's former CFO, Ronnie Doman.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Monday, July 26, 2010

Canadian CFOs on the Move – week ended July 23, 2010

Andean Resources (TSX: AND, ASX: AND) announced the appointment of Mr. Eric Edwards as its new Chief Financial Officer. Most recently, he held the position of Chief Financial Officer at International Minerals Corporation. Over the past 15 years, Mr. Edwards has been Chief Financial Officer for a number of publicly traded gold companies including Queenstake Resources, Viceroy Resource Corporation and Ivanhoe Mines.

Adeptron Technologies Corporation (TSX: ATQ) announced the appointment of Mr. Jon Szczur as Chief Financial Officer of the Company. Mr. Szczur has been Vice President of Finance at Adeptron since April 2010. From 2006 through 2009, Mr. Szczur served as Chief Financial Officer of the Wish Group of Companies.

MedMira Inc. (TSX-V: MIR, NASDAQ: MMIRF) announced the appointment of Daniel Frid as Chief Financial Officer. Most recently, he was a member of the Senior Management Team for Keane Canada Inc., serving as the Director of Finance and Information Technology.

Homeland Energy Group Ltd. (TSX: HEG) announced the Company has appointed Ajay Gupta as Chief Financial Officer effective July 13, 2010. Jeff Lowe, who has been Acting Chief Financial Officer of Homeland during the search process, will continue to provide the Company and Mr. Gupta with his expertise and support until September 30, 2010. Most recently Mr. Gupta was CFO of African Aura Resources Ltd. and Scandinavian Minerals Limited which recently merged with First Quantum Minerals Ltd. He has also worked with Deloitte & Touche LLP, DuPont Canada, Samara Group and S R Khurana & Co.

Roadking Travel Centres Inc. announced the resignation of Mr. Alan Tookey as interim CFO. In the interim, the Company appointed Mr. Greg Spicer to serve as interim CFO, in addition to existing duties as President and CEO, until a successor is appointed.

Inter-Rock Minerals Inc. (TSX-V: IRO) announced the appointment of Ms. Diane Nasadiuk to the position of Chief Financial Officer. Ms. Nasadiuk is an accountant and has been involved with Inter-Rock for the past eight years.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Wednesday, July 21, 2010

Prediction: The Perfect Storm

Take the following ingredients:

- The recession is over.
- IFRS deadline approaching (January 1, 2011), with no turning back.
- Companies are hiring in finance again.
- Accounting Firms coming off the busiest busy season in years.
- Accounting professionals are leaving firms to start their own firms

Mix them together, and you have…

The biggest shortage of staff facing Accounting Firms in Canada (Big 4 and mid-tier) since 2003-2004.

Coming Soon to an Accounting Firm near you - September or October 2010.

(Please note that this Storm is predicted for Canada only).

Tuesday, May 25, 2010

Canadian CFO’s on the Move – week ended May 21, 2010

Xebec Adsorption Inc. (TSX: XBC) has announced their hire of Ginette Gagne as CFO, effective April 8, 2010. Ms. Gagne most recently held the position of CFO at CryoCath Technologies, a publicly-traded, Montreal-based company which was recently acquired by a multinational medical technology company.

Glentel Inc. (TSX: GLN) announced the retirement of Dale Belsher, CFO of the Company, effective June 30, 2010. Mr. Belsher will transition his duties to Jas Boparai, previously Director of Finance, who has been appointed CFO effective June 30, 2010.

TransGlobe Internet & Telecom Co. Ltd. (TSX-V: TTI) announced the appointment of Mr. Soon Kim, CA, as interim CFO.

Copper Reef Mining Corporation (CNSX: CZC) has appointed David Kendal at the Company’s CFO, replacing Bill Jackson, who will be retained as assistant secretary of the Company.

C.A. Bancorp (TSX: BKP) announced that Paolo De Luca has left his position as CFO of the company, and has been replaced by Paul Haggis, a director of the Company, as interim CFO.

Dalmac Energy Inc. (TSX-V: DAL) has promoted John Beasley from Finance Manager to CFO, taking over the CFO role from John Babic, the President and CEO.

Bellhaven Copper & Gold Inc. (TSX-V: BHV) announced the hiring of Ms. Maria Milagros Paredes to the position of Chief Financial Officer of the Corporation.

CRS Electronics Inc (TSX-V: LED) has appointed Paul Haber as interim CFO, replacing Colin Digout, who has resigned as CFO. Mr. Haber was previously Chair of the Audit Committee of the Corporation.

If you have news about CFO’s on the move, or any comments on this feature, please email us.

Sunday, May 16, 2010

Canadian CFO’s on the Move – May 17, 2010

The Financial Statement is proud to offer our new weekly feature – Canadian CFO’s on the move.


May 14, 2010 – Terraco Gold Corp. (TSX-V: TEN) has announced a change in CFO – Bryant McKenzie replaces Rajwant Kang as CFO of the Corporation.


May 13, 2010 – Platinum Communications Corporation (TSX-V: PCS) announced their appointment of Katherine M. Kirkup as CFO


May 11, 2010 – Century Energy Ltd. (TSX-V: CEY) announced that Douglas Baker has been appointed Chief Financial Officer. Mr. Baker replaces Jane Costello as CFO.


May 10, 2010 – Athabasca Minerals Corporation (TSX-V: ABM) has announced that the CFO of the corporation, Kevin Spitzmacher, has resigned as the Chief Financial Officer. In the interim, the President and CEO of the corporation, Udomdej Kriangkum, will act as interim CFO until a suitable replacement is appointed.


May 6, 2010 – Cryptologic Limited (TSX: CRY) announced the appointment of Huw Spiers as Chief Financial Officer of the Corporation, effective August 15, 2010. Mr. Spiers will succeed Stephen Taylor as CFO.


If you have news about CFO’s on the move, or any comments on this feature, please email us.