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News in brief: Pre-budget submission outlines key recommendations

Important asks for the 2023 federal budget include a national whistleblower protection framework; compensation study released and other news from the accounting profession

A group of business colleagues sit at a table in an officeCPA Canada hopes the federal government’s next budget will address three priorities: anti-money laundering, small business and immigration (Getty Images/Hinterhaus Productions)


CPA Canada has released its annual pre-budget submission with three key recommendations for the 2023 federal budget:

  • Strengthen Canada’s anti-money laundering (AML) regime by introducing a national whistleblower protection framework to fight financial crimes. CPA Canada’s AML recommendations also include “greater information sharing between public- and private-sector regime participants within Canada, and enhanced international co-operation and information sharing to better understand the sources of funds coming into Canada.”
  • Increase support for small and medium-sized enterprises (SMEs) by reducing the regulatory and compliance burden to help boost economic growth. Specifically, the national organization calls on the government to take a more proactive approach through certain key actions. First, consider the cumulative regulatory burden faced by businesses by looking beyond administrative burdens to include broader regulatory burdens, such as tax regulations and other requirements. Second, the Canada Revenue Agency (CRA) and Finance Canada should strike a Joint Advisory Panel on Tax Simplification for SMEs, empowered to provide government with concrete solutions to significantly reduce the compliance burden once and for all. Third, the CRA should undertake a new round of Serving You Better consultations to continue making its programs and services more streamlined and client-centric and to address some of the more recent service challenges exposed during the COVID-19 pandemic. 
  • Improve service delivery within Canada’s immigration system to help address labour market needs by speeding up the application process, cutting backlogs and doing more to ensure the success of newcomers after arrival. Unemployment is historically low, demand for workers is high and a skills-gap shortage threatens the economy. “We believe this provides an opportunity for the federal government to leverage immigration policy to help address labour market needs,” the submission states. “A key component of doing so must be ensuring that Immigration, Refugees and Citizenship Canada has the necessary resources to speed up application processing times while also reducing application backlogs.”

CPA Canada also encourages the government to implement a fiscal anchor framework to meet priority needs while Canada’s finances remain strong enough to survive unexpected stressors.

Read the full submission online.


The Canadian Sustainability Standards Board (CSSB) is actively recruiting for its first-ever chair, with an applicant deadline of November 15, 2022. The board is seeking applicants who are forward-thinking and comfortable operating in a fast-paced workplace.

“We are looking for a visible and experienced leader in the sustainability reporting community as we launch the CSSB, to support recruitment of board members and establish the CSSB’s first multi-year strategic plan in their initial months in the role,” says Kevin Nye, Auditing and Assurance Standards Oversight Council (AASOC) chair.

The position is part-time, with a commitment of 1,200 to 1,500 hours per year. The inaugural chair, who will be chosen by the AASOC and Accounting Standards Oversight Council, will likely serve three years, with a possibility for extension.

The CSSB was announced in June 2022 and aims to ensure that sustainability disclosures across Canada are standardized by supporting the adoption of IFRS® Sustainability Disclosure Standards, while also considering the Canadian context.

The board’s goal is to be operational by April 1, 2023, with the recruitment of the chair a major milestone in the process. A call for CSSB members is expected to be issued in November 2022.

The full news release can be found online.


As sustainability becomes more integrated in organizations, incentivizing stakeholders and communities across the value chain has become increasingly important. And to guide them in the process, the recently released A4S essential guide to incentivizing action along the value chain should prove useful. Developed by the Canadian Chapter of the A4S CFO Leadership Network, which is run in partnership with CPA Canada and A4S, the publication provides a framework to help finance teams:

  • define and map their value chain
  • identify the significant sustainability risks and opportunities within its value chain
  • identify priority areas for action
  • understand how to incentivize the integration of sustainability along the value chain.

To learn more, access the guide and two case studies on Canadian organizations applying the A4S framework. Plus, read about the Canadian Chapter of the A4S CFO Leadership Network.


The Women’s Executive Network (WXN) has named three CPAs to this year’s list of Canada’s Most Powerful Women: Top 100.

The list—which recognizes 105 outstanding women across Canada who “create meaningful change in the way they lead within their organizations and communities”—spans the private, public and not-for-profit sectors across 12 categories, with winners selected by WXN’s Diversity Council of Canada.

The CPA winners include:

  • Theresa Jang (category: KPMG C-suite Executives) 
  • Jane Hung (category: Mercedes-Benz Emerging Leaders) ·
  • Beth Wilson (category:WXN Hall of Fame)

As Sherri Stevens, owner and CEO of WXN, noted in a press release: “This year’s winners truly inspire us in the way they lead from a place of truth. They make Canada a better place by unabashedly following their passions and purposes without apologies, excuses or hesitation,” said. “Their bravery, grit, focus and strength shine not only in their own accomplishments, but also in the way they show future generations what’s possible.”


CPA Canada congratulates FCPA Ken Sim, who has become Mayor of Vancouver after unseating incumbent mayor Kennedy Stewart. Sim was honoured as an FCPA in 2019 by CPABC and received his CPA designation in 1996 in the same province.

Sim previously worked at KPMG and CIBC World Markets before becoming an entrepreneur. In 2001, he founded Nurse Next Door, a company that focuses on providing care to aging people in their homes (the company was ranked as a top 50 franchise by Entrepreneur Magazine). He has also been twice awarded with EY’s Entrepreneur Award (Pacific Region), among other achievements.


CPA Canada strives to provide members with innovative research and resources. The profession, including CPA Canada and provincial bodies, has joined together to create the Foresight initiative and ensure our members remain at the forefront of accounting and business expertise. Continue to gain knowledge in accounting for sustainability with these essential guides and upskill through numerous online resources and webinars.