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News in brief: CPAs lend support to Business Resilience Service amid COVID-19

Accountants will serve as business advisers, the future Auditor General of Canada nominated and more news from the accounting world

Woman in office speaking on headsetThe Business Resilience Service hotline aims to help small businesses, not-for-profit organizations and charities in need of financial planning advice during the COVID-19 crisis (Getty Images/PeopleImages)

CPAs LEND SUPPORT TO BUSINESS RESILIENCE SERVICE AMID COVID-19

One hundred and twenty-five chartered professional accountants from across the country will serve as business advisers for the new Business Resilience Service (BRS), a hotline service supported by the Government of Canada.

The four-week, bilingual service—launched on May 25—aims to help small businesses, not-for-profit organizations and charities in need of financial planning advice during the COVID-19 crisis, especially those that don’t have access to an accountant. 

“We understand the incredible difficulties all business owners are facing during these challenging and uncertain times,” said the Hon. Mary Ng, minister of small business, export promotion and international trade. “That is why our government has rolled out the largest relief effort in Canadian history to give direct support to the businesses that need it. We want to ensure they can weather this period and bounce back once we’re on the other side of this. The Business Resilience Service will help the smallest businesses in pressing need of finance planning advice as they weather this pandemic and plan for their recovery.”

The national initiative is run through the Canadian Chamber of Commerce’s Canadian Business Resilience Network in collaboration with EY and with support from CPA Canada and Imagine Canada. It’s available seven days a week from 8 a.m. to 8 p.m. ET (Mondays to Fridays), 10 a.m. to 4 p.m. ET (Saturdays) and 12 p.m. to 4 p.m. ET (Sundays)*. Call 1-866-989-1080 to connect with a business adviser.

CPA KAREN HOGAN NOMINATED AS FUTURE AUDITOR GENERAL OF CANADA

On May 13, Prime Minister Justin Trudeau nominated CPA Karen Hogan to be Canada’s next auditor general.

Hogan has more than 25 years of professional experience in accounting and auditing. After starting her career in the private sector, she joined the Office of the Auditor General of Canada (OAG) in 2006 as a director. Since January 2019, she has served as Assistant Auditor General.

Over the years, Hogan has demonstrated a strong ability to form committed teams while conducting high-quality audits. Her work has included leading the audit of the consolidated financial statements of the Government of Canada and contributing to the delivery of a new report to help Parliamentarians and Canadians understand complex financial matters and the importance of financial audits for Canada. 

These qualities will be essential at a time when the COVID-19 crisis has plunged the nation’s finances into the red and the OAG’s resources are increasingly limited, as Hogan told the parliamentary committee vetting her candidacy. The appointment process is currently underway.

CPA CANADA’S PIVOT MAGAZINE COLLECTS NINE MAGAZINE AWARDS

For the second year in a row, Pivot magazine made an impression at the National Magazine Awards: B2B. With 18 nominations in 10 categories, CPA Canada’s flagship publication won three gold medals—including one for Best Issue and another for Best Series of Articles for the Foresight project—six silver medals and nine Honourable Mentions.

Pivot, which was launched in 2018, presents content tailored to meet the interests of CPA Canada’s more than 217,000 members. Its name conveys the agility and flexibility individuals and businesses need to thrive in today’s rapidly evolving business environment

These are the winning articles: 

*This article was updated on June 10, 2020, to reflect the adjusted hours of operation for the Business Resilience Service hotline.