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T InTITuT

CTd CCunTnT nTI

2010 nnul pT

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CONTENTS

Message from the presiet a the Chair 2

Visio, Vae a Missio tatemets 5

tatemet of Maagemet esosibiity 6

Maagemets discssio a aysis 7

2009-2010 ests 20

mmarize iacia tatemets 29

Member, tet a Voteer Iformatio 31

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2

MESSA

GE

FROMTHE

PRESID

ENTANDTHE

CHAIR

MESSAGE FROM THE PRESIDENT AND THE CHAIR

ccorig to giace isse i ate 2009 by the Caaia ecrities miistrators, forwar-ookig

iformatio is ee i secrities aw i this cotry as disclosure regarding possible events, conditions orresults of operations that is based on assumptions about future economic conditions and courses of action

neeess to say, we have aways soght to exress the og-term imicatios of chages a evetsaffectig the C rofessio i tario i ast a eorts or 2009-2010, however, this obigatio has

bee mae easier by a mber of tres that together oit with sa carity towar or ftre i thisrovice By cotrast, the ast few years have see a maer of evets some egisative, some regatory,

some ecoomic a may of a rey oitica atre of a ki that mae catrig their meaig i time

for or aa iscosre to the membershi a more ifct task perhas the best exame, as of this timea year ago, was the state of the goba, Caaia a tario ecoomies, a its imact o the ear-term

fortes of the C rofessio

This year, however, the ecoomic ictre has carie, as have the coseqeces of severa other

eveomets of og-staig sigicace to the Istitte a or membershi, i miatig two broacategories of chage, together with their ikey coseqeces: irst, a ew regatory a cometitive

ascae for the C rofessio has beg to crystaize eco, a mber of emograhic a socioogica

chages are erway i Caaa a aro the wor, which wi have a astig imact o the Crofessio right here i tario

A New Regulatory and Competitive Landscape

etirey ew Chartered Accountants Actwas grate oya sset o May 18, 2010 Cotaie i Bi 158,theAccounting Professions Act, 2010, the ew CA Actis ow the aw i tario

This has bee a rotracte effort, startig with a cea sheet of aer aroach by Istitte staff to

moerize or regatory, ivestigative a other owers i keeig with the emas o a 21st cetryrofessioa regatory boy Give that the rior CA Actejoye a shef ife of haf a cetry, we aticiatethat or ew egisatio wi rovie carity o or roe, maate a fctios for may years to come

so i 2009-2010, the Istitte secre a essetia a og-term safegar goverig the movemeta qaicatios of rofessioa accotats withi Caaa uer a excetio to the abor mobiityrovisios of the greemet o Itera Trae, oy those accotats from other jrisictios who meet the

qaicatio criteria estabishe by the rovices pbic ccotats Coci (pC) wi be eigibe for etry

ito tario as icese bic accotats This wi ee the e res o rofessioa mobiity for theftre i a way that coties to rotect the bic iterest i or rovice

o n Barr, C Gera W Mis, C

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With frther regar to the pC, it is hoe that this boys reqiremets for bic accotig icece

aicatio or reewa have aso hee brig greater carity to the membershi Members wi kow that asart of its reewe comositio a maate er the Public Accounting Act, 2004, the pC imose oa recogize accotig boies the reqiremet that those of their members seekig icesig, or icecereewa, emostrate that they have ractise i a sbstative way over the rior ve years, to esre

crrecy a ogoig cometecy i orer to safegar the bic This ew pC re was eieate i,amog other thigs, secie reqire hors i varios esigate services We mst comy with a

aat to these ew reqiremets as wi those other accotig boies who seek icesig athorizatio i

tario for the rst time

a area of carity to emerge over the ast year is itsef a cotiatio of the pC rocess: Barrig theforesee, it is ikey that oe or both of the CM a CG orgaizatios wi be grate icesig athority

over the ext year or so s a rest, their members (who meet the secie criteria) wi begi to eter ito

irect bic accotig cometitio with Cs if oy i imite mbers at the otset The oties of thisew cometitive ascae are therefore comig ito focs s a coseqece, a effort is we erway

at the Istitte to give C ractitioers the toos a sort they ee to retai their re-emiece i theirresective markets whe this ew era aws

The World is Changing and So Are We

demograhic tres i tario, i Caaa, a iee i mch of the wester wor have bee aaret

for some time These have areay beg to trasform or society, or workforce, a or membershi It is

icmbet o the eaershi of or rofessio to maage these chages i a way that esres or cotieviabiity a re-emiece i the marketace for ace a accotig services whie, at the same time,streamiig rocesses for immigrats, career chagers a workforce re-etrats

With regar to a agig oatio, the membershi ros cotie to og retiremets at a receeteace This is set agaist a ever-risig ema for or eaershi a exertise i a era of growig

bsiess, ecoomic a regatory comexity priority oe, therefore, is to esre that the sy ofqaie ew Cs ca srmot these coictig ressres, chiey by exaig the fe throgh

which stets have traitioay asse o the roa to obtaiig their esigatio This rocess ofstrctra chage is we erway, as eviece by the growig accetace of exae exeriece

oortities beyo the ream of bic accotig ofces with sbstatia aitig ractices I fact, as

this is writte, the Istitte has arove 61 C Traiig fces to trai 855 C stets er these ewexae exeriece oortities i tario We sigicaty exceee or target for sca 2010, a are

we o or way to reach or 2011 target of 78 C Traiig fces s a rest, we ow beieve there co

be more tha 300 C Traiig fces offerig exae exeriece oortities by 2015 it is etireyossibe that, er favorabe coitios, the aa itake of C stets workig i these exae

exeriece oortities co be as high as 40 er cet by 2015

The avet of these o-traitioa traiig eviromets has its origis i the searatio of icesre fromcerticatio iheret i the Public Accounting Act, 2004 uer this amark egisatio, the C rofessioo oger face the historica reqiremet to esre that a ew Cs o matter which career ath they

wo timatey take ha to emerge from or qaicatio rocess fy icesabe or ait-reayThe ee ow arises for ew Istitte rograms to eabe Cs who ot for the o-ait traiig ath to

become eigibe for icesre sho they choose that ath at aother stage i their careers This aieseqay to iteratioay-traie accotats from rograms eeme eqivaet to or ow, who reqire a

ceary ee rogram to qaify them for icesre i tario as we This emergig area wi be a riorityfocs for the Istitte throghot 2010-2011 a beyo

The other major factor at work o or raks is the growig ema to accommoate iteratioay-traie accotats, both to esre or mbers remai sstaiabe a to roery reect the iverse

wor i which we o bsiess ere the Istitte coties to ehace its retatio as the keeer of bestractices i this e, with sigicat ivestmets i ew a better ways to evaate the creetias of

iteratioay-traie aicats, throgh ever more comrehesive web-base iformatio accessibe

to wo-be immigrats a throgh cotie cooeratio with a variety of tario agecies aorgaizatios charge with faciitatig their etry a itegratio ito or workforce

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4

MESSA

GE

FROMTHE

PRESID

ENTANDTHE

CHAIR

I taem with these tres is a isse that emerge rig 2009-10 tie irecty to the avet of a ew

Chartered Accountants Actfor tario; secicay, a itte-chage rovisio from the riorActthatimits the se of accotig esigatios that so cose eogh to C (a other recogize tario

accotig boies) as to eeessy cofse cosmers a the bic Members wi ow be aware thatthere is a veritabe ahabet so of these foreig-base esigatios oe regate here i tario

whose reresetatives have bee obbyig har agaist this rovisio as art of their broaer marketigefforts i this rovice These ogoig a reasoabe imitatios wi ow be he with the eactmet of

the ew egisatio, a marketace ercetios of the athetic C eare by or members wi remai

ite

that asie, the ro ca of ew tario Cs at or aa Covocatio ceremoy i Toroto is try areectio of the wor we ive i, with famiy heritages from the for corers of the gobe, rovig the

growig attractiveess of the C rofessio across this rovices mtite of ethic commities

We ca therefore say with some coece that this Istitte, a or rofessio, are aatig we to

a raiy chagig a icreasigy gobaize workforce we are movig at see to itegrate aeqay chaegig a yamic ew regatory a cometitive eviromet ito or ear a og-term

ersectives That sai, as we ook forwar i these ways, we mst ot ose sight of or rofessios origis,

or or og a ro history These have bee foe o itegrity, bic trst a rigoros staars

these thigs too wi move forwar with s

o n Barr, Cpresiet & C

Gera W Mis, CChair

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VISION STATEMENT OF CANADAS CHARTERED ACCOUNTANTS

We are Caaas most vae, iteratioay recogize rofessio of eaers

i seior maagemet, avisory, acia, tax a assrace roes

VALUE STATEMENT OF CANADAS CHARTERED ACCOUNTANTS

Cs are vae for their itegrity a exertise

MISSION OFTHE INSTITUTE OF CHARTERED ACCOUNTANTS OF ONTARIO

r missio is to foster bic coece i the C rofessio by actig i the bic iterest a

heig or members exce

Giig pricies

et a eforce the highest staars of qaicatio, ecatio, exeriece a ractice

promote rofessioa exceece throgh eveoig, moitorig a eforcig the highest

staars of cometece a ethica coct

corage members to ehace their caabiities cotiay

eso to members ogoig rofessioa ees

promote the attractiveess of the rofessio to the best stets a he them becomeChartere ccotats

erve as the rimary voice of the accotig rofessio i tario

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6

STATEM

ENTOFMANAGEME

NTRESPONSIBILITY

STATEMENT OF MANAGEMENT RESPONSIBILITY

The aa acia statemets a a acia a other iformatio cotaie i this a eort are

the resosibiity of the Istittes maagemet

Maagemet has reare the acia statemets i accorace with Caaia geeray accete

accotig ricies, choosig those which it cosiers most aroriate to the Istittes circmstaces,a ayig best estimates a jgmets base o crrety avaiabe iformatio The sigicat

accotig oicies are escribe i ote 2 to the acia statemets iacia iformatio cotaie ithis a eort is cosistet with that show i the acia statemets

Summarized Financial Statements are ice i thisAnnual Report They, a the other acia ao-acia ata herei, are itee to f maagemets reortig resosibiities, throgh a baace

of both historic a forwar-ookig iformatio Members are ivite to view the Istittes aciastatemets, from which the Summarized Financial Statements are raw These ca be obtaie by caigCstomer ervice at 416-962-1841 or 1-800-387-0735

The MD&A has bee reare i a maer cosistet with the sirit a broa framework articate bythe CICs Caaia performace eortig Iitiative Boar i its ocmet Managements DiscussionAnd Analysis: Guidance On Preparation And Disclosure The MD&A ices forwar-ookig iformatiocta rests i the ftre may iffer materiay from this iformatio, however, becase ftre evets acircmstaces are ot aways withi maagemets cotro a may ot occr as execte

Maagemet is resosibe for the itegrity a reiabiity of acia iformatio, a has estabishesystems of itera rocera a accotig cotros esige to achieve this These systems aso

reasoaby esre that assets are safegare from oss or athorize se

The Coci is resosibe for esrig that maagemet fs its resosibiities for acia reortig a

itera cotro The Coci carries ot this resosibiity riciay throgh the it Committee, whichis comrise of Coci members ot sittig o the xective Gro, a ices a bic reresetative

The it Committee of Coci meets with the aitors, both with a withot maagemet reset, toreview the activities of each, as we as to review the acia statemets a MD&A, to reort to the Cocithereo

pK i llp has bee aoite by the membershi as the Istittes aitors to exress their oiio

o the fair resetatio of the acia statemets They have f a restricte access to the it

Committee a maagemet to iscss matters ertaiig to their ait The it Committee aayertakes a forma review of the aitors erformace a makes recommeatios to the Coci withresect to their reaoitmet for the comig year

nora V Mrrat, C, CBVxective Vice-presiet & Chief eratig fcer

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MANAGEMENTS DISCUSSION AND ANALYSIS

The Institutes strategic plan and outlook for scal 2011, as well as its nancial position, results of operations,and cash ows for the year ended February 28, 2010, are discussed in the following Managements Discussionand Analysis, which should be read in conjunction with the summarized audited nancial statements for theyear ended February 28, 2010.

The Audit Committee reviewed Managements Discussion and Analysis along with the other nancialinformation presented in this Annual Report.

Overview

stabishe i 1879, the Istitte is the qaifyig a regatory boy of tarios Chartere ccotats

a C stets The Istitte aso rovies may rofessioa sort services a reresets the iterests

of its members, stets a rms

s we as maagig the iqe isses affectig Cs i tario, the Istitte works i artershi withthe other rovicia istittes/orre of Chartere ccotats a the Caaia Istitte of Chartere

ccotats (CIC) to eveo atioa oicies for critica rofessio-wie fctios sch as bic iterest

a itegrity; effective eaershi a strategic aig for the rofessio; ecatio a qaicatio;

staar settig; a commicatios The tario Istitte is the argest rovicia istitte, reresetigaroximatey 41 er cet of Chartere ccotats i Caaa

The Istitte is govere by a Coci of 20 eoe: 16 are eecte Chartere ccotats a for arebic reresetatives, aoite by the lieteat Goveror i Coci The Istittes maagemet a

exective staff are resosibe for the attaimet of the Istittes strategic goas

Strategic Direction

The Istittes aig cyce begis with the estabishmet of strategic riorities for the esig scayear, which rovie the basis for rearig etaie qaitative bsiess as by service area, a a bget

for the acia resorces ecessary to carry ot the overa bsiess a The rovicia istittes/orreof Chartere ccotats a the CIC work together throgh the Coci of eior xectives (C) to

eveo atioa oicies for critica rofessio-wie fctios

National Strategy

With a overarchig atioa strategic goa to maitai the re-emiece of the C rofessio so that the

sigicat majority of a seior acia ositios a avisory roes are e by Cs, the C has ietie

the foowig key objectives as the riority commitmets for the C rofessio for 2009-2011:

ttract excetioa eoe to be Cs a eveo a sort them throghot their careers

hace, romote a rotect the C rofessio

sre orgaizatioa effectiveess

prse staars a kowege eveomet iitiatives

This strategy gies the work of the C a the varios atioa-eve committees a workig gros thatreort to it

Institutes Strategic Goals

The foatio of the Istittes bsiess a a bget is a strategy that is aige with the atioa

irectio for the C rofessio whie aressig the Istittes secic circmstaces Maagemet aseior staff roce a strategic a for the 2010-2011 sca year which is resosive to the Cocis overa

strategic irectio, the atioa strategy, a the crret tario-secic evirometa factors which affect

the Istitte

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8

MANAG

EMENTSDISCUSSIO

NANDANALYSIS

The key strategic goas for the Istitte for 2010-2011, as arove by the Coci i ebrary 2010, are to:

sre that the C rofessio coties to be re-emiet i Caaa

sre that the C rofessio has a sigicat roe i the goba rofessio

deveo a sort a members throghot their rofessioa careers a ito retiremet

hace, romote a rotect the C rofessio so it remais the most vae, iteratioay

recogize Caaia accotig a ace rofessio

sre bic trst a coece i the C rofessio throgh estabishig, iecig, moitoriga eforcig high qaity accotig, aitig, assrace a ethica staars a ractices, a

seekig high, iform bic accotig staars

sre orgaizatioa effectiveess withi the Istitte

The bsiess iitiatives that are ae by maagemet for the esig year a the bget to carry them

ot are aige to the achievemet of these strategic goas

Key Performance Drivers

The Istittes sccess i fig its missio to foster bic coece i the C rofessio by actig

i the bic iterest a to he its members exce is ot measrabe i terms of rots or the creatio

of members eqity vae, bt rather maiy throgh qaitative, o-acia eiverabes t the sametime, maagemet oes have acia stewarshi resosibiities, which this Md& refereces withi

the broaer cotext of achievig the Istittes strategic goas iacia iicators he esre that theresorces etrste to the Istitte are se i a efciet a aroriate maer

Deliverables

s a sef-regatig rofessioa boy, the Istittes ricia bsiess is maitaiig rofessioa staarsa regatig the C rofessio The Istitte seeks to ho a ehace the vae a creibiity of the

C esigatio both to its members a to the ciets, emoyers, regators a the broa bic who reyo it The Coci a maagemet recogize that, as the argest rovicia istitte, this Istitte mst

ay a cetra roe i brigig atioa iitiatives to ife as we as esrig that the iqe isses imactigCs i tario are we maage

The bsiess a for each service area of the Istitte is sorte by:

a formaize assessmet of the crret itera a extera evirometa factors that might affectthose articar bsiess activities,

cosieratio of the imact of articiatio i atioa strategic iitiatives,

aaysis of the sigicat oeratioa chages ae (both cotiig a oe-time),

aaysis of the secic imemetatio risks (as to egree of cotroabiity a risk maagemetaroaches), a

seectio of criteria for sccess vis--vis erformace measres a miestoes for key activities

avig regar to its bsiess a, maagemet is of the view that the Istittes ae eiverabes were

comete or sigicaty avace rig the year More secic commets o sca 2009-2010 activities

i key resosibiity areas are set ot i this a eort begiig o age 20, orgaize er thesemajor areas of focs:

professioa ef-egatio

lifeog learig

Member ervices

C proe-aisig

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Financial Performance

aa bget, which ices caita a workig caita reqiremets, is reare by maagemet areviewe by the iace Committee, which is a committee of the Coci The Istittes aa bget is

reare o a break-eve basis ho the bgete cost of carryig ot the ae strategic iitiatives

excee the bgete revee i ay year, the Coci mst seect betwee seig cts (with restatactivity rectios) a member fee icreases i orer to arrive at a break-eve bget ositio The

Istittes acia erformace is measre by comarig acta rests for the year to the bget a therior year

The Istittes wie scoe of activities sas both its sef-regatig a member service maates I a

mber of activity areas, certai bget ies mst be estimate o the basis of tyica historic exeriece

as the eve of ecessary seig i ay year wi ctate as a rest of extera ieces This isarticary eviet i areas sch as govermet reatios where the reictabe actios of extera

arties ofte etermie the extet to which the Istitte mst se

The Istittes erformace reative to its bget is moitore o a ogoig basis by the Coci throgh

the iace Committee decisios by maagemet to make exeitres which are ae, or at eveswhich materiay eart from bget, are arove i avace by the xective Gro of the Coci Whe

variaces from bget exist, the iace Committee assesses the variaces a takes actios as it eemsaroriate i the circmstaces

Accounting Disclosures

ice the ate of the 2009 a eort, ectio 4470, discosre of ocate xeses for not-for-protrgaizatios, came ito effect a has bee imemete by the Istitte The Istittes etaie acia

statemets for sca 2010 (ot ice i this aa reort) iscose the atre of exeses aocate, thebasis of aocatio a the amots aocate

lookig to the ftre, accotig staars for ot-for-rot orgaizatios (nps) are crrety erreview The ccotig taars Boar (cB) a the pbic ector ccotig Boar (pB) are

assessig the irectio of acia reortig staars for ot-for-rot orgaizatios i Caaa I March2010, the cB reease a exosre raft o roose accotig staars for nps s set ot i the

exosre raft, staars wo comrise:

the existig staars eaig with the iqe circmstaces of nps, beig the crret 4400 series

of staars i part V of the CICA Handbook; together with

the ew accotig staars for rivate eterrises i part II of the CICA Handbook, to the extet thatthey wo ay to nps

nps wi aso have the otio of ayig Iteratioa iacia eortig taars (I) Commets

o this exosre raft are ivite ti Jy 15, 2010 ho the staars be aize i accorace with the

exosre raft, the chose framework mst be imemete for the Istittes sca year eig ebrary28, 2013, with earier aotio ermitte

I the meatime, the existig accotig staars se by the ot-for-rot sector those from the CICAHandbook - Accounting wi cotie to ay, chage, ti roose ew irectios for nps iboth the bic a rivate sectors are aize

t the reset time, maagemet is of the view that the I otio is ikey to be chose for the Istitte

owever, the Istitte ites to wait ti the avaiabe otios are aize a wi the seect the bestaterative for its circmstaces

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0

MANAG

EMENTSDISCUSSIO

NANDANALYSIS

Capability to Deliver Results

Leadership and Human Resources

ffective ebrary 28, 2009, the Istittes revios presiet a Chief xective fcer resige toassme a ew career ositio with the Caaia pbic ccotabiity Boar oowig a comrehesive

recritmet rocess, the Coci aoite n (o) Barr, C, as the Istittes sccessor presiet aChief xective fcer, effective etember 8, 2009 o Barr broght rove eaershi to the Istitte

a a i-eth kowege of the C rofessio, acqire throgh his revios voteer roes These riorroes ice beig a eecte member of the Istittes Coci from 1999 ti 2006, cmiatig with his

service as the Istittes 2004-2006 Chair, a from 2006 ti 2009, servig as a member of the CIC

Boar of directors

drig the iterim erio, the seior exective eaershi for the Istitte was rovie o a co-actigbasis by the xective Vice-presiet a Chief eratig fcer a the Vice-presiet of learig The

xective Gro of the Coci a the other members of maagemet worke cosey with them to esre

the Istitte cotie to meet its strategic goas

The Istitte is otherwise fy staffe with we-qaie iivias a oes ot foresee ay ifcty imaitaiig its workforce

ma caita is the Istittes argest exese item a ees to be eoye i the most effective maerWith regar to the revios year, the revaiig ecoomic certaity a the coseqet bget risks a

costraits case maagemet to ho the et arove ositios for 2009-2010 to a omia icreaseof a haf ositio This was oe by assessig the Istittes existig resorcig a eimiatig, reacig

or reeoyig certai ositios to achieve better efcacy oowig this stasti year, the growth astrategic chages throghot the Istitte create the ee for a mber of ew ositios The tota mber

of arove ositios for 2010-2011 was icrease by a et factor of ve, from 124 to 129, a the reate

cost is ice i the bget

I aitio to its ai staff, the Istitte reies o severa hre Cs who voteer their time to serve oits varios isciiary a other staig committees a avisory gros, a make ossibe both Istitte

a district ssociatio rograms, a ecatioa a charitabe activities

Financing Strategy and Liquidity

drig sca 2010, the Istitte geerate cash ows from oeratig activities of $33 miio whie its

acig a ivestig activities tiize $34 miio i cash, restig i et egative cash ows of $45,000Maagemet beieves that cash, cash eqivaets a ivestmets, as we as aticiate cash ow fromoeratios, are sfciet to meet its workig caita a caita exeitre reqiremets

The Istittes caita is comrise of members eqity iveste i roerty, at a eqimet a

restricte members eqity

Coci ivests i roerty, at a eqimet i orer to rovie a fctioa a efciet eviromet

for staff, voteers, members a others The Istitte ows its a a biig i owtow Toroto acotiay ates a moies these remises to meet crret oeratig ees a to maitai the vae

of this asset

With resect to acig its a a biig, i Jaary 2005, the Istitte etere ito a iterest rate

swa arragemet with a Caaia chartere bak to eimiate iterest rate cash ow risk, throgh the

baace of the amortizatio erio to Jaary 2015 The acig is i the form of variabe rate Bakersccetaces i the ricia amot of aroximatey $48 miio at the e of sca 2010 The ebt has ave year term, a whe combie with the iterest rate swa arragemet, has a effective iterest rate

of 648 er cet, reresetig a iterest rate garatee by the swa of 533 er cet combie with a

stamig fee of 115 er cet

The amot the Istitte wo have ha to ay at ebrary 28, 2010 to wi the swa arragemetamote to $424,000 The aa reaize oss/gai is recore i the oeratios i sort of voteer,

member a staff activities sectio i the tatemet of xeses a evees or the crret year, thisamote to a gai of $220,000 (2009 - oss of $294,000)

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Coci maitais a restricte f baace sfciet to meet the aa workig caita reqiremets of

the Istitte a to meet crret a ftre acig a ivestig activities The Istitte is ot sbject toay extera caita reqiremets, excet as ote beow

The majority of the Istittes workig caita, which is i excess of its orma oeratig ees, is iveste

i xe icome ivestmets The Istittes Ivestmet poicy is esige to mitigate market risk igibeivestmets ice: govermet obigatios isse by the Govermet of Caaa or the rovices;

Caaia Chartere Bak secrities a commercia aer; a, obigatios of certai Caaia foreig

bak afiates a Caaia cororatios The amot ace i each tye of ivestmet is base o re-

etermie imits The rchase of ay secrities carryig a dB ratig beow for bos or -1-low forcommercia aer is stricty rohibite The Istitte has ot iveste i ay asset-backe commercia aer

I 2009, the Chartere ccotats tets ssociatio of tario (C) iscotie oeratios a

egage the Istitte to cotie its fctios s art of this rocess, $600,000 was trasferre to theIstitte s a coitio of the trasfer, the C fs mst be se for esigate roses s a rest,

the amot of $623,000 (which ices iterest eare to ebrary 28, 2010) is cosiere a exterayrestricte cotribtio The Istitte accots for this cotribtio sig the eferra metho which reqires

that this amot be eferre a take ito icome as se

I ctober 2009, the Istitte bega makig fig eciecy aymets to the ee beet ortio

of its staff esio a The Istittes mothy aymet obigatios tota $15,159 These aymets areexecte to cotie ti the ext reqire vaatio ate o etember 30, 2011, whe the fe stats

of the pa wi be actariay etermie agai

Risks and Risk Management

Economic Environment

The ecoomic certaity revaet at the e of the rior sca year sowy gave way to icrease stabiityas the year rogresse thogh it was feare that the Istittes revee sorces wo be sigicaty

imacte by the ecoomic certaity of ate 2008, this tre ot to be foe

Geera revees, which ice membershi, ractitioer, icecig, stet a amissio fees, he

remarkaby we thogh Caaas ecoomy has fare better tha most other eveoe cotries,tarios recovery has agge somewhat e to the effect o the har-hit mafactrig sector

Maagemet beieves that the risk that this oses to geera revees i the comig sca year wi ot be

materia

ctivity-reate revees, comrise to a great extet of ecatio, rofessioa eveomet a racticeisectio fees, have aso weathere the recet owtr These revees have a exese comoet that

varies with the eve of activity This fact, combie with the imrovig ecoomic otook, sho mitigateay risk to these et revee streams

The Istitte aso receives amiistrative fees from varios roviers of vae-ae C afity roctswhich offset the saary a other costs icrre i makig these iscretioary rocts a services

avaiabe These charges are coecte rsat to the Istittes oicy of ot chargig the membershi-at-arge for costs which beet oy secic gros of members s the major afity rograms are israce-

base a therefore fairy recessio-roof, the Istitte oes ot exect a materia ecie i member sage(a therefore oes ot exect the amiistrative fees to ecrease)

s reviosy ote, the Istitte starte makig fig eciecy aymets to the ee beetortio of its staff esio a begiig i ctober 2009 The vaatio of the pa as at etember 30,

2008 iicate a actaria eciecy $611,500 fe iabiity o a goig cocer basis a $485,100sovecy eciecy, a the fig eciecy aymets of $15,159 er moth are base o these amots

Whie the pa reviosy ha a sma srs ositio, the ecoomic owtr reste i a combiatio of

eresse asset vaes a higher iscot rates aicabe to the actaria vaatio of the pas ftreiabiities The tario esio a regator rovie temorary sovecy fig reief measres for

eigibe esio as facig the start of secia cotribtios a the Istitte took avatage of the otioto efer the start of its aymets by oe year The ext pa vaatio mst be reare at a vaatio ate

o ater tha etember 30, 2011 Maagemet is hoef that a recovery wi occr i the caita markets

a rest i more favorabe vaes at the ext vaatio

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Risk in Respect of Financial Instruments

The Istittes acia istrmets comrise cash a cash eqivaets, ivestmets, accots receivabe,accots ayabe, og-term ebt a the reate iterest rate swa arragemet The carryig vae of

cash a cash eqivaets, accots receivabe a accots ayabe aroximates fair vae e to their

iqiity a short-term matrities The Istitte etermies fair vae of the ivestmets base o activemarket-qote rates The carryig vae of og-term ebt aroximates fair vae e to its eryig

oatig iterest rate The iterest rate swa arragemet is recore at fair vae with ay gai or ossreecte i the tatemet of xeses a evees air vae is etermie sig mark-to-market mi-

market qotatios at the cose of bsiess ay, cacate by a Caaia chartere bak

The Istitte is exose to the foowig risks i resect of certai of the acia istrmets he:

Creit risk arises from the otetia that a coter arty wi fai to erform its obigatios It is

maagemets oiio that the Istitte is ot exose to sigicat creit risk as its accotsreceivabe arise maiy from trasactios with may arties sch as members, rms a C stets,

other C istittes, biig teats, a cotracte afity roct siers

The iterest rate swa arragemet rovies iterest rate ctatio rotectio for the remaier of theog-term ebt reaymet term to 2015

Crrecy risk is the risk to the Istittes revees a exeses that arises from ctatios of foreig

exchage rates a the egree of voatiity of these rates It is maagemets oiio that the Istitte isot exose to ay crrecy risk as it has o materia trasactios i foreig crrecies

The Istittes ivestmets i cash eqivaets a xe icome ivestmets are sbject to marketrisks as the vae of these ivestmets wi chage with market ctatios Base o the atre of theivestmets, it is maagemets oiio that the Istitte is ot exose to sigicat fair vae market

risk

Contingencies

The Istitte coties to be ame as a efeat i a ega actio by a member thogh the Istitte

was sccessf at tria rig the year, that ecisio has ow bee aeae by the aitiff The Istittecoties to beieve that this caim is withot merit a ites to efe the aea vigorosy s a rest,

o rovisio for this caim has bee mae i the acia statemets

ice december 6, 2000, the Istitte has ha the athority i its egisatio to coect costs assesse

agaist members a rms i resect of the ivestigatio, rosectio a hearig of rofessioa coctmatters ice that ate, the Istitte has coecte costs aggregatig i excess of $500,000 a these

amots have bee ice i revee i the sca erio i which they were receive

recet jicia review reste i a rig that, esite its goverig egisatio, the Istitte acks

jrisictio to assess a coect costs restig from isciiary ivestigatios a roceeigs TheIstitte has aie for eave to aea this rig

bseqet to that ecisio, ew goverig egisatio for the Istitte, the Chartered Accountants Act,2010, was rocaime ito aw by oya sset o May 18, 2010 The ew egisatio corms the Istittesright to coect costs retroactive to december 6, 2000

owever, it is certai whether the above-ote jicia review wi be sersee by the ew CharteredAccountants Act, 2010 ho the rig be overtre, either o aea or by virte of the ew egisatio,the Istitte wi have the right to rse i excess of $1 miio of aitioa costs that have bee aware

a remai otstaig ho the rig be he, the Istitte may be reqire to reay the costsreviosy coecte no rovisio for the otetia cost recoveries or for the ossibe ref of costs

reviosy coecte has bee mae i the Istittes 2009-2010 acia statemets

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BUDGET AND FINANCIAL RESULTSWITH MAJOR EXPENSE ELEMENTS ($000s)

2011 Budget 2010 Actual 2009 Actual

Expenses

aaries a beets 13,075 12,551 11,936

Cotracte rofessioa services - ractice isectors,

rofessioa coct ivestigators, ectrers, markers,resiers 4,418 4,428 4,294

vertisig, romotio a sosorshi 2,439 2,167 3,296

ees to other boies 2,110 2,057 2,148

ccommoatio, meas a trave - corse articiats,istrctors, voteers a staff 1,961 1,876 1,881

prit a mai 1,139 1,122 1,302

lega, costig a ait 1,172 1,359 1,146

Grats 776 674 782

Biig -

debt iterest 300 338 377

mortizatio 964 940 915

ther occacy costs 931 622 1,162

other oeratig costs 3,708 3,628 3,422

32,993 31,762 32,661

Revenues

ctivity revees 13,709 14,767 14,083

Geera revees 19,282 18,797 18,354

32,991 33,564 32,437

Excess (deciency) of revenues over expenses (2) 1,802 (224)

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BUDGET AND FINANCIAL RESULTS WITH EXPENSES PRESENTEDFUNCTIONALLY - NET OF ACTIVITY REVENUES ($000s)

2011 Budget 2010 Actual 2009 Actual

Net expenses by area

Coci a xective fce 3,464 3,340 3,366

pbic ffairs 2,917 2,669 3,363

professioa taars a ef-egatio 5,334 4,552 4,311

learig 968 143 916

eratios i sort of voteer, member a staff

activities 6,601 6,291 6,622

19,284 16,995 18,578

General revenues 19,282 18,797 18,354

Excess (deciency) of revenues over expenses (2) 1,802 (224)

COMPOSITION OF REVENUES ($000s)

2011 Budget 2010 Actual 2009 Actual

% % %

General revenues

Membershi fees 14,035 42.5 13,356 39.8 12,918 39.8

practitioer fees 2,410 7.3 2,397 7.1 2,338 7.2

tet fees 971 2.9 1,299 3.9 1,329 4.1

pbic accotig icesig fees 965 2.9 814 2.4 848 2.6

missio a reistatemet fees 615 1.9 636 1.9 517 1.6

Iterest a sry 286 0.9 295 0.9 404 1.3

19,282 58.4 18,797 56.0 18,354 56.6

Activity revenues

Coci a xective fce 966 2.9 954 2.8 889 2.7

pbic ffairs 392 1.2 365 1.1 383 1.2

professioa taars a

ef-egatio 2,070 6.3 2,375 7.1 1,841 5.7

learig 9,776 29.6 10,561 31.5 10,471 32.3

eratios i sort of voteer,member a staff activities 505 1.6 512 1.5 499 1.5

13,709 41.6 14,767 44.0 14,083 43.4

Total Revenue 32,991 100.0 33,564 100.0 32,437 100.0

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Financial Results

The Istitte recore a excess of revee over exeses of $18 miio for the 2010 sca year comare

to a eciecy of $224,000 for the rior year The 2009-2010 bget, which was reare ate i the

2008-2009 sca year rig a erio of heightee ecoomic axiety, targete a break-eve ositioigicat certaity cotie to revai eary i the 2009-2010 sca year as the extet a ratio

of the recessio was sbject to wiesrea secatio s the year rogresse it sowy became aaretthat the imact of the owtr wo ot be as serios as ha bee feare nevertheess, catios sca

maagemet reste i iscretioary seig beig t off ti ate i the year or ot takig ace at aMajor factors cotribtig to this ositive cocsio of the sca year were as foows:

bget cotigecy rovisio of $300,000 was ot reqire, restig i a ositive variace of thesame amot

disciiary rocess cost savigs cotribte $300,000 as reiace o otsie ega cose was

rece a more cases were coce by way of settemet agreemet

Whie it was feare that professioa deveomet revees wo sffer as a rest of the ecoomic

owtr, corse registratios remaie strog a eromet i severa offerigs sch as the C

a Beyo, T Itroctio a etrereeria corses exceee exectatios, restig i acotribtio of $275,000 greater tha bget

discretioary image avertisig was he off ti the ast qarter of the year Combie with otrig other avertisig, sch as the ewsaer recogitio a for Tax Ciic voteers, this reste i

aroximatey $245,000 i savigs

Biig oeratios roce a favorabe variace of $330,000, comrise of a $220,000 reaizegai o the iterest rate swa arragemet s $110,000 i savigs o biig oeratios costs

Costs of the rofessioa coct comait ivestigatio rocess were aroximatey $190,000 ower

tha execte e to timig isses o comait es that co ot be comete i the before-year-e timeframes origiay aticiate

Career Iformatio costs were $190,000 ess tha execte as eemets of the reewa of the stet

romotio camaig materias were eaye ito the ext sca year

the egative sie, the cost of the Istittes trieia pbic ccotats Coci ait i resect of

the erio ee ctober 31, 2009 was er-estimate by $170,000

aaries a beets costs exceee those bgete by $135,000 e argey to the fact that exectesavigs from vacat ositios were ess tha execte as there were fewer resigatios a ew hires

were comete more qicky tha aticiate

Iterest a sry icome fe $105,000 short of bget as iterest rates ecie frther thaexecte i eary 2009

Regulatory Matters

Governance and Professional Self-Regulation

The Istitte is estabishe as a sef-regatory rofessioa boy by a act of the tario legisatre, the

Accounting Professions Act, 2010, that cotais withi it the Chartered Accountants Act, 2010 s oteearier, this egisatio became the aw i tario foowig oya sset o May 18, 2010 a reaces the

Chartered Accountants Act, 1956

By virte of its goverig egisatio, the Istitte has athority to estabish, maitai a eforce i thebic iterest staars a rocesses for access to the rofessio a for the qaicatio, goveracea regatio of Chartere ccotats

The Istitte has both a resosibiity a a commitmet to exercise its sef-regatory athority i a maerthat hos a rotects the bic iterest, egeers bic trst a maitais the goo retatio a

re-emiece of Chartere ccotats a the C esigatio This maate is fe throgh:

the eforcemet of theAct, a as reqire, the atig or amemet of byaws, regatios ares of rofessioa coct, a

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the estabishmet a oeratio of regatory committees (icig those resosibe for rofessioa

coct ivestigatios, isciie, aeas, ractice isectios a amissios to the rofessio) thatexercise athority eegate by a er the oversight of the goverig Coci

The ew CA Actmoerizes a ehaces the Istittes goverace a regatory athority, eabig theIstitte to effectivey regate a 21st Cetry rofessio i the ame of cosmer a bic rotectio

with mch-eee 21st Cetry regatory toos a athority roriate for toays icreasigy comexbsiess a regatory eviromet, key ehacemets fo i the ew ct ice:

the Istittes athority regarig settemet agreemets i isciiary cases is ehace, roviig for

sactios withot a amissio of git or a ig of rofessioa miscoct,

the abiity of the disciie a ea Committees to awar costs, icig those of ivestigatios,rosectios a aeas, is stregthee,

the eaty for the iega se of the C esigatio is icrease from the crret $300 to $10,000,

the Istitte ow has the athority to obtai cort orers for cstoy of the recors i ossessio orcotro of members who have ie or isaeare, or have egecte or abaoe their ractices

withot makig rovisios for the rotectio of ciet iterests, a

icosistecies betwee rovisios of the revios ct a the Statutory Power Procedures Actregarig hearigs before tribas, have bee recocie

Public Accounting Licensing

The Istitte is athorize by the pbic ccotats Coci for the provice of tario (pC) to icesea gover Chartere ccotats i the ractice of bic accotig rsat to the rovisios of the

Public Accounting Act, 2004 (PA Act) a the taars a Coci Gieies aote by the pC TheCoci of the Istitte, throgh the pbic ccotig licesig Boar that it aoits, a the aotioof byaws, regatios, oicies a roceres, esres comiace with the rovisios of the PA Act, athe pC taars a Coci Gieies It aso esres that maagemet of the Istitte is reare fora fs the reortig, iscosre a other accotabiity reqiremets of the pC, icig erioic

comiace a erformace reviews cocte by the pC

Access to the Profession

s a sef-regatory rofessioa boy i which iteratioay traie accotats seek to become

members, the Istitte is committe to esrig that it has reqiremets for amissio to membershi,

a oicies a roceres reate to qaicatio by iteratioay traie accotats, that are fair,trasaret a bicy accotabe The objective is to esre that the rovisios a rocesses for access

to qaicatio as a C i tario are see as moes of best ractices as we as meet or excee the secicreqiremets estabishe by tarios Fair Access to Regulated Professions Act(p) This aso reqiresthat the Istitte is reare for a fs the reortig, iscosre a other accotabiity reqiremetsof the egisatio, or as estabishe by the airess Commissio, icig the trieia comiace ait

maate er the egisatio The ait of the Istittes registratio ractices cocte er the

rovisios of p for the 12-moth erio ee Jy 2, 2009, fo that the Istitte was i comiacewith the rovisios of thatAct

Income Tax

s a ot-for-rot rofessioa membershi cororatio, the Istitte is exemt from icome tax ersectio 149(1) of the Income Tax Act

Prospects for Fiscal 2010-2011

To rovie for the Istittes ogoig oeratig ees, Coci has arove a bget for sca 2011,eveoe a recommee by maagemet, which ices a $10 icrease i the Istittes membershi

fee from $500 to $510, a a corresoig icrease of $5 from $250 to $255 to the aitioa aa

ractitioer fee ai by members i bic ractice The hory ractice isectio fee has aso bee raiseby $5 to $185, effective March 1, 2010

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t the begiig of the 2009-2010 sca year, there was sigicat certaity with regar to how

the Istitte wo fare throgh the ecoomic crisis that was at ha s reviosy ote, to rearefor ossibe ecies i key activities as a rest of the ecoomy, maagemet eaye iscretioary

exeitres, where ossibe, ti ate ito that sca year a seig ecisios for exibe items ikeavertisig were mae oy whe a cear sese of the stats of key Istitte revee streams was kow I

the e, the Istitte ishe the year with a execte $18 miio srs

Whie the Istittes members eqity ositio at the e of sca 2010 was seemigy robst, there

are kow chages a chaeges o the immeiate horizo which wi t sigicat ressre o the

Istittes ftre acia resorces i the form of either:

higher ermaet overhea costs,

fig major rojects which are ecessary to reso to chagig market coitios, or

fig recogize certaities sho they materiaize

Increased Operating Overhead

The Istitte faces ever-icreasig scrtiy from the regatory boies which oversee its activities a mst

f the costs of verifyig its cotie comiace drig the 2009-2010 sca year, the Istitte was

aite by both the pC a the airess Commissio Both were the rst of what wi be recrrig trieiaaits for which the Istitte icrre costs totaig over $250,000 I the years betwee these comiace

aits, the Istitte faces ess comrehesive reviews of its erformace which are oetheess costy

The Istitte exects to receive a icreasig mber of iqiries a aicatios from members of

accotig boies i other cotries, or iivias who ractise accotig bt are ot members ofrofessioa accotig boies, who have immigrate to Caaa or are cotematig immigratig to

this cotry tario is the estiatio for the argest mber of sch ew immigrats a the tario Cesigatio is freqety cite as their Caaia esigatio of choice The Istitte mst have i ace the

ifrastrctre ecessary to reso to these iqiries a aicatios o a timey a comete basis

isca 2010 was the thir f year that the Istitte has bee athorize to icese a gover members

who ractise bic accotig, rsat to the Public Accounting Act, 2004 s a rest of chages to thereqiremets for obtaiig a reewig a icece a i resect of which members i bic accotig

mst have a icece, the tota mber of C icesees has cotie to ecie:

Licenseesebrary 28, 2006(whe the icesig rovisios of the former

bic accotig act were sti i force)

9,814

ebrary 29, 2008 7,810

ebrary 28, 2009 5,751

ebrary 28, 2010 5,128

Maagemet beieves that the mber of icesees has ow stabiize owever, the ecie is ot execteto be recovere i the immeiate ftre, meaig that the sbstatia costs icrre by the Istitte to f

the bic accotig icesig system mst be met from the coectio of icesig fees from sigicaty

fewer icesees This raises the rosect that icreases i icesig fees may ee to be itroce i ftre

years

The regatory focs o bic accotig is execte to begi chagig i 2010-2011 to reect the ew

eviromet estabishe by the Public Accounting Act, 2004 er which, i e corse, the CertieGeera ccotats ssociatio of tario a the ociety of Maagemet ccotats of tario asowi be athorize to icese a regate their members as bic accotats new scearios are arisig

i which iivias are icese by oe esigate accotig boy bt ractise i a rm or ractice thatis registere with a regate by aother accotig boy This wi ecessitate the estabishmet of

regatios, rotocos a roceres agree to by each of the accotig boies that wi eabe everyicesee a the rm or ractice throgh which the icesee rovies bic accotig services to be

effectivey govere a regate by the boy that has grate the icece, for sch matters as ractice

isectio, ivestigatios a isciiary rocesses

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neeess to say, the ikeihoo that CMs a CGs wi be grate bic accotig icesig athorizatio

by the pC at some oit i the ear ftre wi aso itesify the cometitive eviromet for or icesemembers This, i tr, wi ema ew ways of esrig the cotie reemiece of the C esigatio

i the marketace for ace a accotig services The og-term aig rocess to meet thisevetaity is ow we erway

Major Projects

With the searatio of icesre a certicatio, the Istitte mst eveo ecatio rograms which

eabe Cs qaie i a o-icese stream (i tario or esewhere i Caaa), or those comig toCaaa with a esigatio from a accotig boy recogize as havig eqivaet rograms, to meet thestaar to become qaie for icesre i tario

imiary, iivias comig to Caaa with creetias from accotig boies ot recogize as havigeqivaet rograms, reqire a more efciet rote by which they ca access the C esigatio The

Istitte is ookig to work with or existig iversity arters to eveo sitabe rograms which wismooth the rocess for immigrats ookig to brig their ecatio a cometecies to the C

staar

I aitio, i orer to attract eoe with a breath of backgros to become Cs, the Istitte is workig

with or iversity arters to bi rograms which wi eabe Caaia o-bsiess graates toefciety comete the ecatioa eemets they reqire to eter the rofessio

Uncertainties

The Istitte works i artershi with the other rovicia istittes/orre of Chartere ccotats athe CIC throgh the C to eveo atioa oicies for critica rofessio-wie fctios The C is

crrety reviewig the retatioa risk imact to the etire rofessio if a rovicia istitte/orre wasabe to ivestigate a, if ecessary, rosecte a very arge isciie case or how the rofessio wo

aress a rovicia or atioa ega or egisative isse that ha rofessio-wie imicatios mechaism

has bee eveoe for roviig sort, icig otetia fig assistace, for sch ftre isses Ifaote by the rofessio, the Istitte, as the argest rovicia boy i terms of membershi, wi be cae

o to cotribte aciay to sch activities i other jrisictios

s ote reviosy, the Istitte has aie for eave to aea a recet jicia review which re that,

esite its goverig egisatio, the Istitte acks jrisictio to assess a coect costs restig fromisciiary ivestigatios a roceeigs bseqet to that ecisio, the eactmet of the Istittes

ew goverig egisatio aears to vaiate its right to coect costs retroactive to december 6, 2000It remais certai whether the above-ote jicia review wi be sersee by the ew CharteredAccountants Act, 2010 ho the otcome of the jicia review be overtre, either o aea or byvirte of the ew egisatio, the Istitte wi have the right to rse i excess of $1 miio of aitioa

costs that have bee aware a remai otstaig ho the rig be he, the Istitte may be

reqire to reay costs i excess of $500,000 before iterest reviosy coecte The otcome of thesematters remaie certai at the ate of ritig this a eort

s a overarchig observatio, i recet years, the Istitte has face icrease ega costs o severa frots

a maagemet beieves that this tre is ikey to cotie I the isciiary area, there has bee a

oticeabe icrease i the mber of cases goig to jicia review I aitio, the Istitte has ha otherchaeges sch as havig to efe the rofessios rights to its traemarks a ofcia marks

Whie the ecoomy aears to have stabiize a the geera otook is more ositive, maagemet

remais catios as the Istitte coties to work towar achievig its 2010-2011 strategic goas I ight ofthese aticiate chages to the Istittes oeratig ascae, a i-eth examiatio of its caita eesis erway thogh the Istitte reorte a sizabe srs for the 2009-2010 sca year, the foregoig

major chages a certaities mea that those fs are reqire i orer to reserve the Istittesacia ositio whie carryig ot the activities reqire to meet its strategic goas

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In Conclusion

The Istittes ricia resosibiity is to act i the bic iterest throgh the maiteace a

eforcemet of high rofessioa staars The Istitte aso exists to serve its members The Istitte

takes its maates seriosy a wecomes the may a iverse chaeges a oortities that havebee aresse over the ast year, as we as those that ie ahea

The may Cs who are activey ivove i the Istitte are key to or stregth as a rofessio a to or

achievemets as a orgaizatio Their exames isire s a their cotribtios are recogize i the

Member, Student and Volunteer Information sectio of thisAnnual Report

n (o) Barr, Cpresiet & Chief xective fcer

nora V Mrrat, C, CBVxective Vice-presiet & Chief eratig fcer

Bria d leaer, CVice-presiet of learig

Thomas Warer, B, CI, pm

Vice-presiet & egistrar

Joh W Mrray, llB, llMVice-presiet of taars forcemet

peter VareyVice-presiet of pbic ffairs

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0

2009-2

010

RESULTS

2009-2010 RESULTS

s a sef-regatig rofessioa boy, the Istittes ricia bsiess is maitaiig rofessioa staars

a regatig the C rofessio i tario The Istitte seeks to ho a ehace the vae acreibiity of the C esigatio both to its members a to the ciets, emoyers, regators a the broa

bic who rey o it

avig regar to the Istittes bsiess a, maagemet is of the view that the Istittes ae

eiverabes were comete or sigicaty avace rig the year This sectio rovies more etaiecommets o sca 2009-2010 activities orgaize er these major areas of focs:

professioa ef-egatio lifeog learig

Member ervices C proe-aisig

PROFESSIONAL SELF-REGULATION

The rimary focs of govermet reatios activities rig 20092010 was o secrig the tario

legisatres eactmet of a ew Chartered Accountants Act irst itroce i the legisatre i March

2009, Bi 158, theAccounting Professions Act, 2010 that cotais withi it the Chartered Accountants Act,2010, was referre to a egisative committee i ri of this year for bic a stakehoer it oowiga review by the committee, Bi 158 was give Thir eaig o May 12, 2010 a receive oya sset o

May 18, 2010

The ew CA Actehaces a moerizes Istitte regatory athority a rocesses throgh rovisiosthat have og bee grate to a mber of other rofessioa regatory boies i their goverigegisatio Withot these rovisios, the Istitte wo be icreasigy at risk of beig abe to efciety

a effectivey f its resosibiities as a regator i the crret era The ew measres ate,moerize a a to regatory owers that havet chage sbstatiay sice 1956 eseciay i

reatio to ivestigatig a isciiig members a rms for acts of rofessioa miscoct i a timey

way, so as to rotect cosmers a the bic iterest

drig the egisative rocess for Bi 158, sbstatia Istitte resorces a cosierabe time were evoteto aressig the se of Chartere ccotat a other cofsigy simiar esigatios by members

of accotig boies otsie Caaa who ow resie or work i tario The ew CA Actcarries forwarfrom the 1956 CA Acta rovisio that rohibits iivias who are ot members of the Istitte fromsig Chartere ccotat, or the iitias C, C or C, either aoe or i combiatio with

other wors or iitias, or from hoig ot or ractisig as Chartere ccotats i tario The ewActicreases the maximm eaty for those fo by a cort to be gity of a offece, to $10,000 from the

crret $300 ccotig boies otsie Caaa a their members i tario chaege the retetioof the rohibitio as, variosy, iscrimiatory a fair, rotectioism a merey itee to reserve a

moooy for Istitte members thers characterize the rohibitio as a barrier to access to emoymet

by iteratioay traie accotats

The Istitte reqeste the retetio of the rohibitio a the icrease i the eaty as ecessary torece the risk to the bic a to revet the otetia imitio of the C image a bra that co

arise from iivias sig the esigatio, or a cofsigy simiar esigatio, or caig themseves

Chartere ccotats, whe they are ot sbject to regatio by the Istitte i accorace with tario

aws The ee for regatio arises i the bic iterest i regar to sch matters as esrig kowegeof Caaia taxatio a bsiess aws, a beig sbject to comaits ivestigatio a isciiaryrocesses i tario Withot the rohibitio secie i the CA Act, iivias who are ot members ofthe Istitte a rovie accotig services to the bic sig the C or cofsigy simiar esigatios

wo ot be sbject to ractice isectio a rofessioa iabiity israce coverage, a thereqiremet to comy with aicabe Caaia staars

Bi 158 makes it abaty cear that the rohibitio o the se of Chartere ccotat or the C, C

or C iitias wo ot revet hoers of C or simiar esigatios from otsie Caaa from ractisigi tario as accotats It oes ot sto them from sig their iteratioa esigatio i bsiess

meetigs, or i resose to ps, or o their resm qay imortat, they are ot rohibite from either

seekig or obtaiig emoymet i tario

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We beieve that the assage of theAccounting Professions Act, 2010 wi carify the res of market cocti tario for a accotig esigatios foreig or omestic for the ext few ecaes, give that thecrret egisatio goverig Cs i tario has ha a shef ife of more tha haf a cetry t the same

tie, theActwi safegar from itio the vae of the geie C esigatio, which or membersworke so har to attai, agaist a roiferatio of esser rivas vyig for marketig avatages i the crret

eviromet

other sigicat achievemet i 2009-2010 was obtaiig the tario govermets registratio, er

the abor mobiity chater of the greemet o Itera Trae, of a legitimate objective exception for

Ontarios public accounting standards estabishe er the Public Accounting Act, 2004 The excetiowi esre that bic accotats from rovices where the ractice of bic accotig (the rovisioof assrace a comiatio services) is ess strigety regate tha i tario, a who wish to be

icese i this rovice, wi be reqire to f the same cometecy staars a meet the same

reqiremets as iivias who have bee icese by tario icesig boies

r sccessf effort to secre a egitimate objective excetio for tarios egisate system of bicaccotig regatio er the IT creates a astig safe harbor for this rovices rigoros bic

accotig qaicatio staars agaist otetia owwar ressre from other rovices, where

egisate staars are either iferior or o-existet uer the res of the agreemet, this excetio wiremai i ace ti other Caaia jrisictios aot egisatio comarabe to tarios, which stiates

the ee for iteratioay recogize bic accotig qaicatio a regatory staars eqivaetto those that Cs have og bee reqire to meet Whie it is ikey that other rovices wi move to o

so i the ear term, this eveomet has serve to emostrate i other rovicia a territoria caitas

that abor mobiity mst be reicate o staars that rotect the bic ot those that simyfaciitate iter-rovicia market access at a owest commo eomiator s sch, it has serve to ay

ow a imortat referece oit for ftre IT egotiatios, as we as the ogoig evotio of bicaccotig regatio i Caaa

aother frot, movig back to a ace of romiece, the legal liability reform e hos the otetia to

greaty avace the iterests of the C rofessio over the og term Members wi kow that the Istittes

rsit of a ess oeros iabiity regime for aitors i tario was t o ho over mch of the ast yearowig to other eveomets escribe here owever, i the fa of 2009, the ttorey Geeras ege

to esre ieeet sty of the isse was mae goo by the law Commissio of tario (lC), whichhas ache a sty o ossibe reforms, rive argey by or ersistet avocacy We aticiate that the

lC wi tabe recommeatios to the govermet rig 2010 which, it is hoe, wi ca for some form

of roortioate iabiity for aitors of the ki we have og soght ho this rest i egisative actio,the ega ascae resectig ait work i tario co be trasforme, with astig a beecia

coseqeces for the rofessio

s reicte, i Standards Enforcement, comaits agaist members cotie to icrease, both i mbera comexity Whie isses of cometece a e care remaie the eaig case for comait, 22

comaits ivovig aegatios of acia mafeasace committe by members were receive rig the

ast year (obe the mber of the rior year) The average egth of time that comait es remaieoe eig isositio by the professioa Coct Committee (pCC) or disciie Committee aso

icrease sbstatiay This atter heomeo is attribtabe to a combiatio of factors icig:comexity of the isses raise; ifcties i obtaiig eviece from other regatory agecies; the ee to

esre rocera fairess to a arties; a member sesitivities aro the iscosre of iformatio e

to the existece of cocrret regatory roceeigs or coatera civi itigatio

The foowig tabe smmarizes matters eat with by taars forcemet i 2009-2010 as agaist thoseeat with i 2008-2009:

Year Files open at

March 1

Files opened

during the year

Files closed

by PCC

Files closed

by DisciplineCommittee

Files closed

during the year

Files open at

February 28

2008-2009 143 199 130 9 139 203

2009-2010 203 206 154 24 178 231

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2

2009-2

010

RESULTS

f the 154 es cose by the pCC withot referra to the disciie Committee, 48 (31 er cet) reate

to matters i which o breach of the es of professioa Coct was fo; 69 (45 er cet) restei the rovisio of giace by the pCC to the member(s) ivove; seve (ve er cet) were oiio

reqests; a the remaiig 30 (19 er cet) were either watchig es oee by staff where sbseqetevets iicate o basis for roceeig, or es oee eig receit of aitioa iformatio from

comaiats who sbseqety ecie to rovie it

The 24 matters referre to the disciie Committee rig the year reste i 18 hearigs (icig two

matters coce by way of settemet agreemet) s a rest of these roceeigs, 13 members were

exee from the rofessio with atteat es a bicity; oe member was e a ssee fora rescribe erio; a for members were sbject to other sactios icig es, orers to cooeratea maatory cometio of rofessioa eveomet corses taars forcemet cose set a

tota of 39 ays i disciie or ea Committee hearigs, a a frther for ays reresetig the pCC

before the divisioa Cort of the tario Cort of Jstice

f the 231 oe comait es at year-e, 44 were cassie as watchig or eig; 97 were ithe iitia hases of staff or pCC assessmet; 21 were er forma ivestigatio; a a frther 55 were

awaitig hearigs before the disciie Committee or issace of disciie Committee reasos The baace

reresets es er aea to the ea Committee of the Istitte or ergoig/awaitig jiciareview (ve) or thir-arty review by the ieeet eviewer of Comaits or the pbic ccotats

Coci for the provice of tario

harmoizatio of the rofessios regatory rograms coties to be a atioa riority a practice

inspection has bee the sbject of a extesive review by a iterrovicia workig gro This has restei a reworkig of the moe that has bee i ace i tario for amost 30 years ome chages to the

rogram have areay bee mae a the baace of the arove chages wi be fy imemete by the2011-2012 isectio year

e of the rst chages aote atioay was a restatemet of the objective of ractice isectio -

amey, protection of the public by assessing the compliance with professional standards of members/rmsthat perform assurance, compilation and other specied engagements, and by taking appropriate follow-upor remedial action in instances of non-compliance. The public is further protected by practice inspectionproviding an educational experience to members/rms.

ther rogram etais that have bee recorme are the scoe of the rogram, the criteria by which rms

wi be assesse (CICA Handbookstaars), the isectio cyce (at east oce every three years), a theisectio committee rocess as we as the ecessary qaicatios of isectors a voteers who sit o

the practice Isectio Committee

practice isectios i tario are cocte by a team cosistig of ve f-time isectors a 48 art-time isectors ach isectio e ergoes a etaie or qaity cotro review cocte by a f-time

isector or a seior art-time isector to esre cosistecy i the isectio reorts cotet a reate

recommeatios before beig set to the practice Isectio Committee for its review

The practice Isectio Committee cosists of 17 members who are assrace arters i ifferet sizerms eight from oca rms, three from regioa rms a six from arger rms The committee members

review a isectio es ot oy to etermie what frther corse of actio, if ay, sho be take bt

aso to ietify those areas where aherece to the CICA Handbookrecommeatios co be imroveWhie the rests of the 935 isectios cocte rig the 2009-2010 year were geeray favorabe (85

er cet o frther actio), the Committee ietie a mber of cocers regarig the ocmetatio ofait a review egagemets, acia statemet resetatio a qaity cotro oicies a roceres

that have cotribte to the Committees ecisio to reisect 146 er cet of a ofces isecte rigthat year (verss 141 er cet i 2008-2009) The etais of these cocers are rovie for giaceroses i a e-mai set to a ractisig ofces i Je of each year a oste o the Istittes website

This ast year has see etaie reviews of or ractice isectio rogram by the pbic ccotats

Coci for the provice of tario, as art of its oversight resosibiities of the Istitte as a bicaccotig icesig boy, as we as a e iigece review by the Caaia pbic ccotabiity Boar

(CpB) to corm its ogoig reiace o or isectios of CpB registrats who ait a imite mber of

bic comaies

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LIFELONG LEARNING

Career Iformatio, catio, C Traiig fces (CTs) a professioa deveomet (pd) are the

itegrate comoets of the learig tream Its missio a a core Istitte bsiess is to attract the

brightest a the best stets a the rovie rograms a activities to sort stet a memberifeog earig to esre their ogoig rofessioa cometecy This cometecy is eveoe iitiay

throgh the C qaicatio rocess, which ices ecatio, exeriece a evaatio comoets, ais maitaie a ehace throgh pd rograms as we as ractica exeriece

The Istittes major iitiatives to sort ifeog earig focs o iovative ways of attractig the

brightest a the best stets; the reemet a imemetatio of cometecy-base ractica

exeriece reqiremets that faciitate exae exeriece oortities otsie of the traitioa aita assrace stream, a ehace the cometecy eveomet of a etry-eve Cs; the creatio a

stregtheig of og-term strategic artershis with tario iversities; a the exasio of exectiverograms a corses to meet the ees of members i istry, as we as those i bic ractice

Career Information (CI) strives to esre that the brightest a the best stets ersta what itmeas to be a Chartere ccotat a the weath of career oortities that the C esigatio ca

rovie This objective is achieve throgh the Ruling the Worldcamaig, which seaks to stets i aagage that is esige to catre their attetio a ise the stereotyes they might have abot the

C rofessio It aso hes showcase Cs rig the wor of bsiess a oits ot that achievig the C

esigatio ca be a vaabe rst ste o the roa to ersoa, career a bsiess sccess

The Ruling the Worldcamaig is eivere throgh a mber of ifferet meia a has cotie toevove, sice its creatio i 2008 itioa C roes, Istitte evets a reevat iformatio are

costaty ae to the stet website at wwwgietorigtheworca The CI team has take themessage to tarios high schoo a iversity stets with a habook for career sccess:A PracticalGuide to Ruling the World It featres Cs i iverse es ragig from bic accotig to techoogy,eviromet, sorts, etertaimet, a more The theme extes throghot a CI rogrammig, icigthe high schoo In a iversity C$ cometitios uiversity stets receive this materia at C

nights, cofereces, cometitios a cassroom resetatios eivere by CI staff

CI research iicates that stets are makig career choices earier i their acaemic jorey t the high

schoo eve, the CI team, i artershi with members, was abe to make resetatios to over 400 Grae 11a 12 accotig casses The ast year has aso see this camaig exte ito ew meia sch as socia

etworkig sites, where stets are ecorage to become egage i the iscssio with both Istittestaff a their eers Coectig with stets throgh socia etworkig a ew meia wi be a focs

rig the comig year as CI bis o the sccess of the Guide to Ruling the Worldacebook a pagethat is maitaie by cams res a sorte by Istitte staff The ook a fee of the Ruling theWorldcamaig is aso beig refreshe i 2010-2011 with a reate icrease i exeitres as the rest ofcamaig roctio costs a a emhasis o roviig more romotioa vieos

The iagra Save the World CA Philanthropy Challenge was eivere i 2009 to iversity stetsI this cometitio, stet teams are aske to eveo a iea that wi imrove the wor aro them

Wiers are reware with a rize of to $10,000 (with $5,000 goig towar makig the stets

ieas reaity a the other $5,000 goig to the wiig team) The cometitio is jge by Cs who areetrereeria a/or active hiathroicay The wiig team is give the oortity to imemet their

a er the giace of a C metor tartig i 2010-2011, this cometitio wi be oe to both highschoo a iversity stets

The Teacher Coeage program (TCp) for high schoo bsiess a accotig teachers coties to aat

to the ees of ecators r aa cofereces rovie teachers with a oortity to share bestractices with their coeages a ear abot ew resorces avaiabe for the cassroom CI coties toeveo case materias i accotig a ethics, icig teacher-friey I iformatio The rogram

is rovie free of charge a there are over 800 Teacher Coeages registere Teachers are ofte rake

as oe of the most ietia gros i terms of career choices of stets With stets makig careerchoices earier, these high schoo iitiatives are strategicay critica

The agshi for raisig high schoo stet awareess of the oortities that come with a C esigatio

are the No Limits Conferences These target the to seior high schoo stets itereste i bsiess byttig them face-to-face with seior Cs from a areas of istry, govermet a acaeme or NoLimits Conferences were eivere i 2009 i ttawa, Toroto, niagara a Kitcheer/Wateroo with coseto 1,000 stets, 100 teachers a 100 Cs takig art May of the No Limits Conferences are eivere i

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4

2009-2

010

RESULTS

artershi with tario iversities This sort hes to stregthe the reatioshi betwee the Istitte

a key acaemic stakehoers, a rovies a brige for stets itereste i the C esigatio as theytrasitio from secoary to ost-secoary ecatio

CI as to icate the sccess of the high schoo eve No Limits Conferences by itrocig a simiarevet that targets the best a brightest stets at tario iversities The iagra iversity evet wibe he i Toroto i eary 2011

The C rott Bsiess Cometitio, a oie bsiess simatio for high schoo stets, eivere i

artershi with the rott choo of Bsiess at Careto uiversity, was ew for 2009-2010 egistratiofar exceee exectatios with over 7,000 high schoo stets cometig I the fa/witer 2010-2011cometitio, it is aticiate that over 10,000 stets wi take art

The Istittes high schoo a iversity associate stet rograms, aog with the high schoo teachercoeage a iversity facty coeage rograms, remai the rimary vehices for issemiatig

iformatio a creatig stet iterest i a C career ve thogh hgey sccessf, with cose to1,000 stets articiatig i each of the high schoo a iversity rograms, efforts to icrease these

eromets cotie I 2009, these efforts focse o big membershi with evets sch as No LimitsConferences for high schoo stets a icetives to icrease rst-year membershi at the iversity eveccess to the Istittes tet esm porta a Job postigs site was aso reaxe to ice recet

graates who were abe to secre emoymet a C tets who ha ost their jobs as a restof the chaegig ecoomy The growig mber of stets who are strggig to secre or maitai

emoymet with a C Traiig fce is ikey to cotie to be a isse reqirig attetio i 2010-2011

The Boar of ssociates, which was create i 2006 a is comrise of a jior a seior iversity

ssociate tet reresetative from each tario iversity, coties to act as a strog voice for the Crofessio o cams With 40 stets reresetig 20 tario camses, it sigicaty ehaces the

abiity of the Boar to act as a o-cams avisory a avocacy gro for the C rofessio

CI coties to work cosey with the C Traiig fce area to esre that messagig is cosistet a

everyoe is aware of the icreibe oortities avaiabe to stets regaress of where they get theirractica exeriece new C Traiig fces cotie to be roe throghot the camaig i 2010-

2011, a vieos that aress commo stet miscocetios are beig roce for icororatio o the

Ruling the Worldwebsite

drig 2009-2010, the growth a accetace of traiig C stets i istry, govermet a i o-ait ractice areas of C rms has exceee exectatios t year-e, the Istitte ha 59 CA Training

Ofces (CATOs) arove to trai 840 C stets over a three-year erio er these ew exaeexeriece oortities, with over 130 stets emoye i these ositios The mber of these CTs

is 60 er cet higher tha the target for sca 2010, with the mometm cotiig ito 2010-2011 Thissccess is arty attribtabe to the ach of severa strategic iitiatives rig the year, icig targete

ecatioa materia to smaer ractitioers that were either imite by their abiity to trai C stets or

cot trai them at a I aitio, the arge C rms soght to exa their arova to trai C stetswithi their seciaize ractice areas a/or icrease the mber of ofces articiatig i these rograms

Iterest from the cororate sector to trai C stets remais strog I fact, aroximatey 15 aitioa

cororate a govermet agecies are execte to be recritig C stets from iversity camses

this year i comariso to the fa of 2009 To cotie this mometm, a to ecate members o the ewractica exeriece reqiremets for C stets, the Istittes CT staff members hoste rofessioa

eveomet sessios throghot tario exaiig the beets a aicabiity of the traiig rogramto varios eviromets a orgaizatios I aitio, the Istitte activey worke with other pICs across

Caaa a the CIC to materiay simify a streamie the aicatio rocess, icig those fromorgaizatios seekig arova i mtie rovices

The artershis create with CTs are beig frther sorte throgh the Istittes ew semi-aaecritig otabes These brig together CT staff from the cororate a bic sectors with

those from the arge C rms, i orer to share best ractices i recritig C stets from iversitycamses across tario

The bicatio a istribtio of the ew practica xeriece eqiremets 2009 (p 2009) a the re-ach of CT vatage the atioa website o ractica exeriece reqiremets were comete i

2009-2010 owever, base o exeriece gaie, feeback receive from varios stakehoers, a a i-eth review of eviromets that are beieve to be exceet traiig gros for C stets bt wo

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otherwise be exce er the crret p 2009, we cotie to assess otetia reemets to exa

the reach of the rogram, whie maitaiig the staars a rigor crrety reqire of a CTs

By the e of 2010-2011, the Istitte exects that there wi be 80 CTs arove to trai C stetser exae exeriece oortities i tario with betwee six a eight er cet of ew C stet

registratios otetiay beig emoye i these ew oortities

fforts aso cotie with tario iversities to cotie to grow the mber of graates that rse

the C esigatio lache i 2004, the Istittes strategic iitiative to accreit accotig streams/

rograms offere by its tario iversity ecatio eivery arters a frther sort these artersthrogh the creatio of C/uiversity Cetres, has bee very sccessf These artershis are ow iace with the eight key tario iversities, with the a two havig bee estabishe i 2009-2010 These

strategic artershis romote the eveomet of critica mass qatity a qaity of facty, stets,

research a crricm at each schoo I tr, critica mass a strog, og-term iversity artershishe to esre cotios imrovemet a iovatio

The visio a missio of each of the C/uiversity Cetres focs o aig to the boy of kowege i

accotig a accotig-reate areas throgh high qaity research a roviig ogoig sort for

cotios rogram imrovemet a iovatio Whie the Istitte has earmarke $1 miio aay isort, the acta aa exeitres to ate have average ess tha three-qarters of a miio oars

It is aticiate that as stet eromets i Istitte-accreite rograms icrease over the ext severayears, each arter wi reach aa fig of $100,000, for a aggregate of $800,000, with the remaiig

$200,000 ivie betwee the octora sties sort a facty coeage rograms, a the activities

of the Istittes Cetre for the vacemet of ccotig catio

I 2010-2011, efforts wi cotie to focs o catrig the syergistic otetia of this strategic groa o raisig its roe a that of each of the arters withi the acaemic a bsiess commities

The varios avees beig cosiere ice hoig joit-cetre cofereces with both acaemic aractitioer atteees, creatig a workig aer series to romote the research roce, a creatig ata

bases of itegrate case sties a examiatio qestios

proviig earig sort to C stets a iversity accotig facty throgh the trasitio to I

i 2011 coties to be a key strategic riority i 2009-2010 a wi cotie throgh to 2011 uiversityfacty coeages receive two comimetary pd corses to he kee them crret o staar ates

The u Caiates Cometecy Ma was aso revise to ice 28 Iteratioa ccotig taars

at eve for the 2010 u materias a examiatios wi ice aroriate coverage of thesesbjects, icig I e-earig sessios to cover each of these examiabe staars, aog with a

e-earig sessio roviig a overview of staars for the re-choo segmet

The u is oe of the key foatios of the C rofessios caim to exceece It is the ivig emboimetof the commitmet, sacrice a rive to achievemet that becomig a C is a abot i harmoy

with attractig the brightest a the best, tarios CA qualication process rovies C stets with the

oortity to comete a of their ecatio a examiatio reqiremets withi oe year of graatigfrom iversity I aggregate, tario has a ve-year ecatio a examiatio rocess comrise of a

for-year, 120 creit-hor iversity egree that ices or is semete by the 17 reqire iversitycorses, a a oe-year professioa program

itaby rearig iversity graates for the chaege of the u withi 12 moths of begiig f-time emoymet wo ot be ossibe withot the strog workig reatioshis that exist betwee the

Istitte a its tario-iversity eivery arters, i articar those that are major siers of graatesa rovie Istitte-accreite rograms Cotios imrovemet rocesses he to esre that tario

iversities eiver graates who ot oy have strog techica foatios bt aso have soi groigsi the reqire ervasive qaities a rofessioa skis This eabes the Istittes professioa programto focs o itegrative thikig a robem-sovig skis throgh the se of itegrate cases base

o rea-bsiess-wor scearios comrehesive aer, simiar to the u, was ae to the chooia xamiatio i 2009, thereby makig it a two-ay evaatio This rovie stets with a greater

oortity to emostrate their cometecy a better reare them for both the chaege they face ithe u a chaeges that they wi face i their rofessioa careers

I terms of the overa u sccess of tario caiates: after two attemts, betwee 87-to-91 er cethave bee sccessf, whie 94 er cet of those attemtig the u become Chartere ccotats withi

the maximm for attemts aowe tario ha 20 members o the 2009 natioa oor o a the2009 u set the recor for the greatest mber of sccessf caiates

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Whie the mber of stets owig throgh the C qaicatio rocess is execte to cotie to

ecie over the ext coe of years, the imemetatio of I i 2011 a the cotie creatio ofew C stet etry-eve ositios throgh exae exeriece oortities sho he to mitigate

the ecie I aitio, the recet chages to rovisio 210 i egatio I rovie rosective Cs witha exemtio from the emoymet reqiremet er the crret ifct ecoomic times This aows

iversity graates who wish to rse their C esigatio to register with the Istitte a roceethrogh the ecatio a examiatio reqiremets utimatey, these stets mst secre emoymet i

a C Traiig fce a f their exeriece reqiremets i orer to become Cs owever, a imrovig

ecoomy a the fact that they have areay comete some or a of their ecatio a examiatio

reqiremets sho icrease the robabiity of ig emoymet

The reactio of tario iversity facty a stets to this chage has bee very ositive, articary

amog recet graates Wiey commicate i eary March, cose to 50 iversity graates who were

abe to emoymet with a CT registere with the Istitte a attemte the May 2010 CK It isaticiate that this rovisio wi have a greater imact i the fa of 2010 with as may as 200 iversity

graates, who otherwise wo ot have bee abe to rse their C esigatio, registerig with theIstitte a attemtig the Jaary 2011 CK

s has bee oe i the ast rig erios of eciig eromets i recessioary times, the mber ofsessios a/or semiar gros, aog with cass sizes, wi be ajste as eee to miimize ay egative

acia imact

The Istittes Professional Development (PD) area coties to exa rograms to assist members with

the extesive taxatio, accotig a assrace staars chages that wi become effective withithe ext year, a to ehace the exective rograms, i sort of the recommeatios of the CAProfessional Learning strategy ocmet arove by the Istittes Coci

egistratio eves i the pd semiars were cosistet with those i 2008-2009 as the effects of the crretecoomic sitatio serve to baace the icrease i ema for techica corses, most otaby those

eaig with the ew ccotig taars for private terrises a the trasitio to the armoize

aes Tax i tario Whie simiar rests are execte for 2010-2011, efciecies withi the pd area,icig the pd Goig Gree iitiatives, have eabe registratio fees to be he at 2003-2004 eves

With a bicy accotabe etities reqire to aot the Iteratioa iacia eortig taars

(I) i 2011 or earier, a rivate eterrises havig the choice to ay I or the ewy reease

ccotig taars for private terrises (p), or to cotie to se crret Caaia Gp i theshort term, there was o shortage of accotig toics i the 2009-2010 pd rogram a sitatio that wi

cotie ito 2010-2011, articary if a accotig staars for ot-for-rot orgaizatios are reease

The 2009-2010 a/Witer pd rogram ice 19 I semiars to he members get to see owhat that meas for their ciets or orgaizatios May ew a ate I tites are schee for 2010-

2011, as the maatory imemetatio ate aroaches, a to aress ay chages to the staars i

the iterveig erio ew corse was itroce eary i 2010 to assist members i trasitioig to thep with aitioa p rograms schee i 2011

The ew Caaia itig taars become effective for erios eig o or after december 14, 2010

new corses were itroce i 2009 to he ractitioers get reay for this trasitio, a aitioa tites

wi be ice i rig 2010 a a/Witer 2010-2011 to esre that members have the cometeciesa toos ecessary to imemet the ew staars

Together with the oie a i-eth rograms rovie by the CIC, this comrehesive site of pdofferigs wi he a Cs bi their accotig a assrace cometecies

The Istittes coaboratio with Qees uiversity o a aie research roject etite Moving fromCA to CFO: A Competency Frameworkcoties to iece the evotio of the Istittes xectiveprograms The ew Vae-drive C rogram was resete i Je 2009, a two ew tites, The C asnavigator a Becomig C (a tayig There), are ice i 2010-2011 schee

MEMBER SERVICES

The ricia focs of Member ervices for 2009-2010 was o roviig sort to or members i their

rofessioa activities Member ervices aso coties to rovie beets to or members by overseeigthe varios vae-ae afity rograms that beet tario Cs

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I the area of standards development, Member ervices has bee activey workig with the CIC, the other

rovicia istittes, as we as other areas withi the Istitte, to raise awareess of the chagig accotiga assrace staars, a to assist with the trasitio igicat time was set over the ast year

articiatig o atioa committees a avisory gros to ietify isses a sotios to meet the eesof members i a sectors

I the smmer of 2009, the Istitte he costatio sessios i Brigto, Markham, ttawa, a Toroto

to raise awareess a obtai feeback from members o the exosre raft o Generally AcceptedAccounting Principles for Private Enterprises (PE GAAP) isse by the ccotig taars Boar (cB)

as we as the Invitation to Commento acia reortig otios for ot-for-rot orgaizatios that wasjoity isse by the cB a the pbic ector ccotig Boar esoses were sbmitte o behaf ofarticiats to the resective Boars

Member ervices is aso moitorig the imact o accotig a assrace staars of egisatio i ewareas, sch as egisatio asse by the tario govermet that aves the way for a ca-a-trae system

that ses market forces to rece greehose gas emissios

The Small Practices Advisory Committee coties to be active o a mber of frots The committee

sbmitte commets to the cB regarig the p Gp exosre raft It aso sbmitte a commetetter to the tario ecrities Commissio i resose to the roose natioa Istrmet 52-107, i

which the committee recommee that a tario rivate comay beig acqire by a bic comaybe aowe the otio of ig a acqisitio statemet sig accotig staars for rivate eterrises

This committee coties to review a rovie feeback o other toics of cocer to ractitioers, sch

as: the bic accotacy icece reewa rocess; the stats of egisative reforms reqire to aow o-members to become sharehoers of a members rofessioa cororatio; a isses reatig to oeratig

i a aeress ofce eviromet

The condential advisory services and ethics counselling cotie to be the most wiey se memberservice I the ast sca year, over 3,700 cas were receive from members a ractitioers o a variety of

toics, icig: accotig a assrace; bic ractice maagemet isses; a the Istittes Byaws

a es of professioa Coct ecrrig cocers raise over the year ice: comexities reatig tothe acia istrmet accotig staar; the chages to the qaity cotro assrace staar; a the

regatory reqiremets reatig to registratio of bic accotig ractices a icesig reqiremets

The technical services area of Member ervices works with tario govermet miistries a agecies

throgh a hoc gros or task forces to focs o accotig a aitig isses secic to the tarioacia reortig eviromet e area of focs this ast year was workig with the ait avisory

committee of the deosit Israce Cororatio of tario to eveo giace reate to the risks ofcoctig creit ios aits

The Istittes afnity member benets cotie to be very oar There are crrety over 27,000

certicates of israce he by members, their soses a eigibe famiy members er the C eect

Israce pas (term ife, ersoa acciet, icome rotectio, critica iess, a ofce overhea) mber of ehacemets were ae to the pas rig the year, sch as a ew catastrohic heath

israce rogram The ome a to Israce pa throgh Td Israce Meoche Moex has owbee i ace for ve years a coties to grow qicky ver 11,000 oicies have bee so a ciet

retetio rates cotie to be we over 90 er cet I aitio, a mber of ew afity arters have bee

ae to the member savigs rogram avaiabe to a Cs atioay

CA PROFILE-RAISING

The C bra is more imortat tha ever, as bsiess eoe rey o the exertise of Cs to he them

weather ecoomic certaity a ea with chages i acia reortig The tario Istitte cotiesto ay a eaershi roe i the ogoig national CA branding initiative r rofessios avertisig

camaig has eivere a highy effective a atioay cosistet avertisig camaig i sort of the

membershi across the cotry as we cotie to emhasize the rofessios strog retatio a thevae Cs brig to bsiess or 2010-2011, there is reewe atioa commitmet to cotie stregtheig

the bra a the decisios Matter theme wi remai cetra to the messagig The ext stage of theavertisig camaig wi ro ot i the fa of 2010

Caitaizig o earned media opportunities is aother essetia fctio of the Istittes pbic ffairseartmet gai i 2009-2010, or efforts to secre ositive meia coverage for or rofessio, a to

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maage otetiay robematic meia iterest esewhere, bore sigicat frit r avocacy efforts o the

greemet o Itera Trae, the ee for a ew CA Act, the case for ega iabiity reform a other isseswere sorte by a rage of iterview oortities, etaie oiio eitorias i major ewsaers a

etters-to-the-eitor, whe eee t the same time, the Istittes highy effective C rtices programshowcasig member exertise o a rage of toics, ae o fewer tha 283 hits for a tota circatio

of we over six miio Cotiig or efforts i this way bis a ftre atform for the Istitte a Crofessio as trste go-to sorces of commet a exertise o a variety of bic a meia iterest

sbjects

Paid media placements aso remai a effective commicatios too gai this year, the Istittes pbicffairs eartmet roce a six-age atioa u semet, etite Career Decisions Matter, whichra i the Globe and Mails Report On Business i december 2009 a agai i Jaary 2010 This seciabicatio serve a a rose to both ceebrate or sccessf u writers a to romote the

rofessio to stets a their iecers

I a simiar way, the Istitte cotie over the ast year to rse a mber of high-roe sponsorshipopportunities These have ice oe-off oortities for oitica fraisers a oicy-maker seech

sosorshis ther exames ice the Istittes ogoig resece o TVs The Agenda with StevePaikin, which reaches a highy ietia aiece of tario oicy-makers a oiio eaers; a mberof cooerative evets a artershis with both the tario Chamber of Commerce a the Toroto Boar

of Trae; a severa commity sort rograms, sch as the aa ree C Tax Ciics a a rage ofchires charities

s we, as of sca year-e, the C eakers Brea saw 59 tario members articiate as seakers forservice a bsiess cb evets a ae iscssios of varyig kis

There is o better way to raise the roe of the C rofessio tha to highight the accomishmets of

excetioa Chartere ccotats I etember, the trieia C resetatio ceremoy ceebratethe accomishmets of the 75 ew eows eecte by the Coci i 2009 as we as those of the eight

Cs er the age of 40 who receive the IC war of distictio The evet was cae off with the

resetatio of the IC war of tstaig Merit to three istigishe Chartere ccotats: heiaraser, C