Accounting | The Profession

News in brief: CPA Canada’s Stephenie Fox receives Fellow designation

Fox receives the profession’s highest honour, CPAs make Canada’s most powerful women list and more news from the accounting world

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Stephenie Fox Stephenie Fox is one of 55 members that have been selected to become an FCPA, which is the highest honour the profession gives members

STEPHENIE FOX SELECTED TO BECOME FCPA

CPA Canada’s Stephenie Fox, who leads the development of accounting and assurance standards in Canada, was named to CPA Ontario’s annual list of Fellows published in November. Fox is one of 55 members that have been selected to become an FCPA, which is the highest honour the profession gives members.

Fox has held prominent roles throughout her career within the accounting, audit and assurance sectors. For more than 25 years, she has established and sustained relationships with national and international standard-setting bodies, earning great respect and establishing an influential voice in international standard-setting.

“I am delighted to congratulate Stephenie Fox as she is named a CPA Fellow (FCPA) in recognition of her achievements and contributions to the profession,” said Joy Thomas, president and CEO, CPA Canada. “Stephenie understands that a rapidly changing environment requires ongoing transformation and collaboration. She has and will continue to play a significant role in the evolution of our organization and standard-setting in Canada and internationally.”

NEW FINANCIAL LITERACY PROGRAMMING IN THE CARIBBEAN

CPA Canada recently launched the Financial Literacy program in Trinidad and Tobago and Cayman Islands, bringing valuable programming to both adults and students in the region. 

CPA members can now deliver free sessions at schools, libraries and community centres around the countries. The sessions will be available to adults, focusing on being a good financial role model and retirement planning; primary school students (8-10 years old) to educate on savings and bank accounts; and to secondary school students (11-14 years old) on budgeting and expenses. 

“The financial literacy program gives CPAs the opportunity to share their knowledge and expertise to help people of all ages improve their money management skills,” said Nancy Foran, CPA Canada vice-president, international. “The program is also a great opportunity for our members to give back to their community.”

Local members are now able to sign up as volunteers and start offering free, unbiased financial literacy information in their community. Find out more by visiting cpacanada.ca/finlitcaribbean.

CPAs AMONG TOP 100 WOMEN AWARD-WINNERS

The Women’s Executive Network (WXN) has announced their Canada’s Most Powerful Women: Top 100 for 2019, which includes several CPAs among its honorees. They are:

  • Karin Kirkpatrick, CEO, Family Services of Greater Vancouver
  • Manjit Sharma, CFO, General Electric Canada
  • Chioma Ifeanyi-Okoro, Speaker and Lead Consultant, Chiomaio.com, and Founder of My African Corner
  • Jocelyn Perry, FCPA, executive vice-president and CFO, Fortis Inc. 
  • Susan Uthayakumar, country president Canada, Schneider Electric Canada Inc.

In addition to the top 100, WXN inducted 10 women into its Hall of Fame, including CPA Cynthia Hansen, executive vice-president and president, gas distribution and storage, Enbridge Gas Inc. 

Canada’s Most Powerful Women: Top 100 was created to recognize the incredible accomplishments of women, develop a community of support, and increase the visibility of strong leaders in order to inspire future generations. CPA Canada’s CEO Joy Thomas was among those recognized in 2018.

CPAs TACKLE CLIMATE CHANGE IN BARBADOS AND BEYOND

On November 8, Gord Beal, vice-president of research, guidance and support at CPA Canada, spoke at the annual accounting conference in Barbados, hosted by the Institute of Chartered Accountants of Barbados (ICAB). Speaking to about 400 accountants at the event, Beal detailed how CPAs have the opportunity to be at the forefront of climate change.

CPA Canada has provided significant leadership in the climate-change space. The organization is currently in the midst of developing training and programs to help CPAs understand their role in climate change and the work that they can be doing to support organizations.

“Accountants may still not be considered one of the usual suspects in the area of climate change,” Beal said. “It has only been in the last few years that people have started to embrace the importance of involving accountants. If Barbados, as an example, is going to be more climate resilient, they’re going to need to make investments around infrastructure and other areas of the economy. Ultimately, you want to make sure those investments are going to deliver in the way they promise they will.”

Accountants sit in virtually every organization in the economic sector, including corporations, not-for-profits, and government.

“The role we play, as accountants, it’s important we have the skills and the capabilities to help accountants play a key role in making organizations more resilient,” Beal adds.

The issue of climate resilience is currently in focus not only in Barbados, but right across the Caribbean, Beal says, including issues of adaptation, how you fund and finance activities related to climate change, and the importance of climate resilience to economic and social well-being.

“We weren’t there to say what Barbados should do, but rather to share what we’ve done in Canada and to help accountants at the global level,” he said.

DON PENNY LEAVES LASTING LEGACY

In November, Meyers Norris Penny (MNP) announced that Don Penny, founding partner and former CEO, had passed away at the age of 80. Born in Manitoba, Penny served on dozens of community organizations and corporate boards and was a mentor to many entrepreneurs across the country.

Penny is remembered as being steadfast to serving the community and profession, being heavily influential in shaping the accounting industry in Canada. He served on the Canadian Institute of Chartered Accountants (CICA) board of governors and became chair of the CICA in 1997-1998.