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CPAPEI Newsletter December 2018 VOLUME 1 ISSUE 20 CPAPEI Newsletter FOR PRINCE EDWARD ISLAND’S ACCOUNTING PROFESSIONALS Inside this issue… Successful PEI Candidates 2 CFE Marks Release and Member Social 3 Convocation & Awards Save the Date 3 Are you CPD Compliant? 4 CPAPEI Welcomes New Board Members 5 Competency Map update & CPA certification program changes 6 Celebrating Achievements FCPA Honourees 2018 7 Local Member Earns Spot in National CPA Branding Cam- 8 paign Community Volunteer Income Tax Program 8 Members in the News 9 . CRA Consultation 10 CPP & OAS Lunch & Learn 10 Free FinLit Sessions 10 Membership Changes 11 New Member Information Session 11 New Student Recruitment Advisor with the CPA 11 Atlantic School of Business 2018|2019 CPAPEI Board of Directors & Staff: Chair Members at Large Chief Executive Officer Lisa Underhay, CPA, CGA David Arsenault, CPA Tanya O'Brien, CPA, CA Dennis Carver, CPA, CA Vice Chair Denise Lewis-Fleming, CPA, CA Staff Becky Chaisson, CPA, CMA Amy MacFarlane, CPA, CA Leanne Newson, BBA Kate O'Brien, CPA, CA Secretary/Treasurer Sharon O’Halloran, CPA, CGA Doug Ezeard, CPA, CA Kent Thompson, CPA, CMA, MBA Executive Committee Public Representative Rodney Payne, CPA, CGA Shawn Murphy, PC, QC Successful PEI Candidates The Board of Directors of CPAPEI is pleased to recognize the achievements of the following candidates in the education program: Kelli Bulger Government of PEI Brodie Carter Veterans Affairs Canada Ling Chen Fitzpatrick & Company Lucas Currie Grant Thornton LLP Mark Darrach Arsenault Best Cameron Ellis Adam Devries BDO Canada LLP Emily Finkle Hammer University of Prince Edward Island Alex Grant Bradley Handrahan Chartered Professional Accountants John Grimmer BDO Canada LLP Lan Guo Fitzpatrick & Company Katherine Koughan Grant Thornton LLP William MacDonald Government of PEI Heather MacEwen Upstreet Craft Brewery Peter MacSwain MRSB Chartered Accountants Rie MacVicar Canada Revenue Agency Spencer Mayne Grant Thornton LLP Courtney Murphy Amalgamated Dairies Limited Evan Myers Canada Revenue Agency Haley Perry BDO Canada Ltd Tyler Ranahan Grant Thornton LLP Sophie Sauer Canada Revenue Agency Kyle Schrader BDO Canada LLP Jessica Smith Arsenault Best Cameron Ellis Alexis Spencer Arsenault Best Cameron Ellis Tianyi Yu Fitzpatrick & Company Page 2 CFE Marks Release and Member Social On November 30th, the Board of Directors of CPAPEI was pleased to host a holiday social and celebrate the success of our candidates in the education program. CONVOCATION AND AWARDS CEREMONY 2019 7:30PM FRIDAY | JUNE 7TH, 2019 FLORENCE SIMMONS PERFORMANCE HALL HOLLAND COLLEGE 140 WEYMOUTH ST., CHARLOTTETOWN Save the Date! Page 3 Are you CPD Compliant? CPD 3-Year Rolling Cycle ends Completing your CPD requirements can December 31, 2018 be difficult to fit in around work and fam- ily commitments. CPAPEI and CPA Cana- As per Regulation 4, a member shall da are proud to offer a wide range of complete: flexible digital choices for members in different industries across key topic are- (a) at least 20 hours of continuing pro- as. fessional development per year, in- cluding at least 10 hours of continu- Earn your CPD ing professional development that is hours online, objectively verifiable through an in- on the go – dependent third party; whenever and works for you. (b) at least 120 hours of continuing pro- fessional development in each three- We offer a year period specified by the Board, number of on- including at least 60 hours of contin- demand CPD uing professional development that is courses on our website. Topics range objectively verifiable through an in- from technical competencies such as as- dependent third party. surance and taxation to professional skills such as time management, negotia- If you are a new member who received tion, and technology management. their designation in the past 3 years, your CPD requirements may be pro-rated. CPA Canada also offers professional de- You should be aware of the requirements velopment courses on their website. to ensure you remain compliant. Ethics The new requirement for four verifiable hours in professional ethics in a 3-year rolling cycle begins in 2019. The portal will be updated in the new year to allow members to break out ethics hours from the courses. Members are encouraged to login to the Member Portal to ensure that they meet the requirements for CPD, and register for courses if they need hours before year end. As our 2018 Fall CPD Seminars come to an end, we would like to send out a special thank you to both our members & our spon- sors, TD Insurance & The Personal. We appreciate your continued support! Page 4 CPAPEI Welcomes New Board Members At our Annual General Meeting on September 13, 2018, two Board Members were elect- ed, and one was re-elected. The Board of Directors extends a warm welcome to newly elected board members Dennis Carver, CPA, CA, and Amy MacFarlane, CPA, CA, and to Denise Lewis-Fleming, CPA, CA, MPA, on her re-election to the board. We also extend our thanks to outgoing Board Members Ryan Pineau, CPA, CA and David Mallard, CPA, CA, for their commitment and service to the profession. Dennis Carver, CPA, CA As the principal and leader of the Grant Thornton construction, real estate and hos- pitality sector group for PEI, Dennis provides assurance and business advisory ser- vices to a variety of island businesses, not-for-profits, and government organiza- tions in the PEI market. He helps companies navigate large audit engagements— ensuring they meet compliance reporting requirements under various accounting standards including, ASPE, IFRS, ASNPO and USGAAP. Dennis completed a secondment with the Grant Thornton Boston office and a US public company in the manufacturing industry. Dennis is an alumni of the University of Prince Edward Island. When he’s not at work or furthering his education, he enjoys giving back to the PEI community. He has been a volunteer and board member of Big Brothers Big Sisters PEI, a member of the Charlottetown Chamber of Commerce and a strong supporter of the PEI Humane Society. He also feels it’s important to give back to our business community through strategic partnerships with such organizations as the Tour- ism Industry Association of PEI and the Construction Association of PEI. Denise Lewis-Fleming, CPA, CA, MPA An alumna of UPEI’s BBA program, Dalhousie University’s Master of Public Administra- tion (MPA) program and the 2017 Governor General’s Canadian Leadership Confer- ence, Denise Lewis Fleming is a Chartered Professional Accountant (Chartered Ac- countant) who received her designation in November 1995. With over 25 years of experience in the provincial public service, Denise has spent the last nine years as a senior manager in the PEI health care sector and currently serves as the CEO of Health PEI, with responsibility for the delivery of health services across the province. Denise has been an active volunteer for various committees in the accounting profes- sion over the past several years. She currently chairs the Public Practice and Member- ship Committee of the CPA Board. Denise was also a member of the tri-party commit- tee which oversaw the drafting of the new Chartered Professional Accountants and Public Accounting Act that was proclaimed in April 2015. Denise lives in Winsloe with her husband Brian and has recently taken up running to help improve work/ life balance. Amy MacFarlane, CPA, CA Amy teaches accounting in the Faculty of Business at the University of Prince Edward Island (UPEI). Amy holds undergraduate degrees in economics and business admin- istration from Acadia University and a master in education from UPEI. Prior to joining the faculty at UPEI, Amy worked in the consulting practice of MRSB, Charlottetown, the audit practice of KPMG Cayman Islands and the audit and tax practices of Ernst & Young, Vancouver. Outside the university, Amy is involved in several corporate boards as well as numer- ous volunteer activities. Amy lives in Clyde River with her husband Christopher Grandy and their four children. Page 5 Competency Map update and CPA certification program changes CPA Prince Edward Island would like to in- form members of some upcoming changes that affect the CPA certification program. In December 2018, CPA Canada will release the first major update to the CPA Competency Map since 2013. The main changes will include the incorporation of data analytics and infor- mation systems (DAIS) competencies in each of the six technical competency areas, as well as major revisions to the taxation competen- cy area. In January 2019, CPA Canada will start to rollout changes to the CPA certification program to align with the Competency Map changes: The CPA practical experience requirements (CPA PER) will be updated in Septem- ber 2019. If you currently offer a pre-approved program(s), you will have until September 2020 to adjust your program to meet the updated CPA PER. Stu- dents/candidates working in an experience verification route, will also have un- til September 2020 to adjust their position to meet the updated CPA PER. No adjustments will need to be made for students/candidates who complete their practical experience term before September 2020. For CPA PEP, new DAIS and Taxation technical competencies content will be in- corporated into Core and Elective modules starting with the January 2019 of- ferings. Additional DAIS guidance materials, containing readings and activities (in a self-study format), will be made available to candidates. The Common Final Examination (CFE) is scheduled to align with the 2018 Compe- tency Map for the September 2020 CFE offering. Candidates writing the Sep- tember 2019 or May 2020 CFE offerings will not be assessed on the new DAIS competencies, but are encouraged to familiarize themselves with the knowledge coverage. Guidance materials developed by CPA Canada will be provided to candidates writing these CFEs through the CPA profession and post-secondary institutions.
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