News in brief: CPA Canada welcomes new president and CEO
Pamela Steer takes on the role as president and CEO of CPA Canada on April 19, 2022 (Image provided)
CPA CANADA NAMES NEW PRESIDENT AND CEO
A new president and CEO will take the reins at CPA Canada effective April 19, 2022.
The appointment of Pamela Steer, FCPA, FCA, CFA, as incoming president and CEO was announced by the Board of Directors on April 4. She succeeds Charles-Antoine St-Jean, FCPA, FCA, who stepped down on March 31.
“Pamela brings a wealth of experience that will guide CPA Canada as it moves into the next chapter of its journey working with our provincial, territorial and Bermudian partners to provide leadership for the Canadian CPA profession,” says Board Chair Richard Olfert, FCPA, FCA, ICD.D.
Steer’s career spans across the technology and financial services industries, including publicly traded, private and regulated entities in Canada and abroad.
“She was selected because of her exceptional track record in transforming organizations, building positive cultures, promoting sustainability and fostering strong relationships,” says Olfert.
Notable recognitions include being named a Fellow of the accounting profession in 2016 and Canada's CFO of the Year in 2019. In 2020, she received an alumni achievement award from the University of Waterloo’s School of Accounting and Finance—where she sits on the advisory council—for her contributions to the profession and community.
“I want to thank the CPA Canada board for putting its trust and confidence in me,” says Steer. “The profession’s future is filled with opportunity as we demonstrate leadership and adapt to continuous change in the global economy.”
Steer is a founding member of the advisory board for the Institute for Sustainable Finance and former chair of the CFA Society Toronto.
TAX WEBINAR BREAKS DOWN FEDERAL BUDGET MEASURES
To summarize and discuss proposed tax measures in the 2022 federal budget announced on April 7, a webinar was hosted by CPA Canada to provide a breakdown of the implications for the profession. Led by CPA Canada’s Bruce Ball, FCPA, vice-president, taxation, and moderated by CPA Vivian Leung, its senior principal, taxation, the session discusses the most important tax measures included in this year’s budget.
The webinar is available free for viewing on demand. CPA Canada has also provided a detailed outline of the tax highlights and its federal budget analysis for deeper insights.
ISSB SEEKS FEEDBACK ON PROPOSED STANDARDS
The International Sustainability Standards Board (ISSB) has introduced two proposed standards—one for climate and the other for general sustainability-related disclosure requirements—which are open for consultation through July 29, 2022.
The standards—supported by G20 Leaders, the International Organization of Securities Commission (IOSCO) and investors seeking enhanced information around sustainability—were developed to reflect recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD) and industry-based disclosure requirements based on SASB Standards.
Once finalized, the standards will provide a comprehensive global baseline of sustainability disclosures to meet the information needs of investors. These standards are being released as various countries, including Canada, are looking at introducing mandatory disclosure requirements on environmental, social and governance (ESG) issues. Global sustainability standards will facilitate the disclosure of comparable, consistent and reliable ESG information.
Feedback from the consultation period will be reviewed during the second half of 2022, with an aim to finalize requirements and approve the standards by year’s end.
DATA MANAGEMENT TOOLS TO HELP CPAS IN THE DIGITAL AGE
Are you looking to embrace data management and all its opportunities?
If so, CPA Canada, in partnership with International Federation of Accountants (IFAC), has a variety of resources, including an upcoming webinar, a discussion paper and a series of articles.
On April 18 from 12 p.m. to 1 p.m. (EDT), CPA Canada and IFAC will host a free webinar focusing on the evolving role CPAs can play in a data-driven world, and the skills and technologies required to do so.
Attendees will leave with insight into developing trends, tools to overcome common challenges and tactics to uncover real data-driven outcomes that can best impact business. Registration is still open.
The webinar supports the IFAC and CPA Canada’s discussion paper: The Role of Professional Accountants in Data. This paper delves into the idea of data as a commodity, and the impact data creation has on professional accountants and their ability to oversee, manage and measure its value. Using illustrative case studies, the paper helps forward-thinking and future CPAs carve their own unique paths into the digital economy. Be on the lookout for the deep dive by IFAC and CPA Canada on the four stages of the data management value chain—data gathering, data sharing, data insights and communication.
For additional information, look to CPA Canada’s Mastering data: A series of articles for CPAs. The series looks at the foundations of the digital economy and explores the role of CPAs in using digital technologies and data management to improve business outcomes.
STAY INFORMED
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