Professional matters: news and views for members – December 2016

Board members of CPA Canada’s Hong Kong chapter attended a luncheon with PM Trudeau during his September visit to China. Plus, two new certificate programs are available from CPA Canada.


CPA Canada luncheon with the PM — in Hong Kong

Prime Minister Trudeau’s visit to China in September concluded with a business luncheon organized by the Canadian Chamber of Commerce in Hong Kong.

CPA Canada sponsored the event and its Hong Kong chapter board members attended. The PM’s eight-day trip to China sought to strengthen cultural and commercial ties between the two countries. It resulted in 56 trade deals worth $1.2 billion.

CPA Canada has three other chapters in China.


CPA Canada, meet CPA Australia

CPA Canada’s president and CEO Joy Thomas with CPA Australia’s CEO Alex Malley and COO Jeff Hughes

CPA Canada’s president and CEO Joy Thomas recently took the spirit of international cooperation to new heights.

While in Sydney, Australia, in September to attend International Federation of Accountants board and committee meetings, Thomas scaled the Harbour Bridge with CPA Australia’s CEO Alex Malley and COO Jeff Hughes.

“CPA Australia wanted to take me out on a bridge climb before our meeting,” explains Thomas. “Whatever happened to the good old days of golfing?”


Luxury fashion’s green bottom line

Why place a monetary value on environmental impact? “Because it’s the language of business,” says Marie-Claire Daveu, chief sustainability officer at Kering, a world leader in luxury goods. One of France’s leading champions of sustainable development, Daveu was in Toronto to discuss Kering’s Environmental Profit & Loss (EP&L) tool.

It helps measure and monetize the company’s environmental footprint on the supply chain. Kering, which has 20 brands (such as Gucci and Yves Saint Laurent) in 120 countries, uses the EP&L to make organizational decisions.


Please Mr. Trudeau, make a new U.K.— Canada trade deal a priority

Please Mr. Trudeau, make a new U.K.— Canada trade deal a priority


New program liftoff

Two new certificate programs are available from CPA Canada.

The Public Sector Certificate Program covers everything from budgets to leadership development. Level 1 includes approximately 40 hours of elearning. Level 2 has 30 hours of blended online and classroom study. Learn more at

The Certificate in Driving Organizational Profit and Performance (Performance Management Certificate for short), launching in January, will help accountants and business professionals build skills in cost management, profitability, pricing and business performance. It will offer a mix of online and in-person study. See the details at


Engaging the private sector

CPA Canada has weighed in on the federal government’s Pan-Canadian Framework on Climate Change and Clean Growth. The recommendations focused on developing a National Adaptation Plan. The plan would include early engagement of the private sector; enabling businesses to play a key role; considering the provision of federal funding for adaptation at local and regional levels to attract private-sector investment; and establishing accountability mechanisms.

Read the full submission at


Mind the (gender) gap

Women make up 48% of all CPAs under the age of 60 and less than 25% of the partners. Advancing Women in Leadership: Business Case Q&A, prepared by CPA Canada’s Women’s Leadership Council, outlines the case for achieving gender equality in the accounting profession and includes resources and ways to get involved.

Get your copy at cpacanada/advancingwomen.


New audit alerts

CPA Canada’s three new audit alerts go beyond the Canadian Auditing Standards.

One discusses CSRE 2400, Engagements to Review Historical Financial Statements. A second examines the key differences between CSRE 2400 and the 8000 series. A third alert explores the use of technology-enabled audit data analytics in the audit of financial statements.

Download these (and more) for free from


Caribbean reform

Public sector financial management in the Caribbean is getting an overhaul. The reform effort is spearheaded by the Institute of Chartered Accountants of the Caribbean. Its partners are the World Bank and the International Federation of Accountants.

CPA Canada supported special seminars in Trinidad and Tobago and in the Bahamas in 2016.


“The underground economy costs jobs, erodes the integrity of Canada’s tax system and undermines the competitiveness of businesses that play by the rules”

— Gabe Hayos, CPA Canada’s Vice-President, Taxation, and member of the National revenue minister’s underground economy advisory committee