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Editor’s Note JANUARY/FEBRUARY 2016 VOLUME 3, No. 1 The New Norm I

N 2011, the heads of two major Canadian accounting organiza- tions entered into talks to unite

the profession under a new profes- sional designation. That process cul- minated in the unification of the Canadian Institute of Chartered Ac- countants and the Society of Man- agement Accountants of Canada at the national level, and the creation of CPA Canada in January 2013. In October 2014, the Certified General Accountants of Canada joined the national organization, making CPA Canada one of the largest national accounting bodies in the world. One of the guiding principles of

the unification was the establish- ment of a new certification process and the development of a new certification exam. That process was completed in September 2015 with CPA students taking the first Common Final Examination for the CPA certification. The results of the exam were released in December and to mark the occasion, CPA

Magazine is running a special issue on CPA education. Our cover feature is about the stars of the CPA academic firmament. Writer Susan Smith was asked to find the teachers and professors of accounting in Canadian universities who are doing the most exciting work, who are making the most waves. In “Campus Confidential,” p. 26, she profiles Natalia Kochetova-Kozloski, associate professor of accounting at the Sobey School of Business at Saint Mary’s University in Halifax. Kochetova-Kozloski was born in Russia and went to the US on a scholarship in the ’90s before coming to Canada. Based on the papers she wrote between 2002 and 2009 about the audit process, she and her research team have been invited to Washington to contribute to the debate policy-makers are having about revising standards. The feature includes profiles of other academic stars such as Merridee Bujaki, president of the Canadian Academic Accounting Association, Timothy Daus, executive director of the Canadian Federation of Business School Deans, and a number of other academic lights. What do employers want in new CPAs? Writer Rosalind Stefanac asked business

owners and other employers this question. In “The Ideal Candidates” (p. 40), she writes, “It’s not surprising, then, that employers are looking to the new chartered pro- fessional accountant for that ultimate candidate — a professional who is smart enough to interpret massive amounts of complicated data and who possesses the business acumen to put it to optimal use for the betterment of a company or clients.” The article also features those who will put young CPA skills to use in their companies, the people at CPA Canada who design professional education programs, and young CPAs who will be employed by businesses. Two other features include one on how accounting ethics is taught in universities, and one on the ups and downs on the road to the Common Final Examination.

Okey Chigbo editor


EDITOR Okey Chigbo ART DIRECTOR Bernadette Gillen ASSOCIATE ART DIRECTOR Kevin Pudsey SENIOR EDITORS Bernadette Kuncevicius, Tamar Satov ASSOCIATE EDITOR Yvette Trancoso ASSOCIATE FRENCH EDITOR Mathieu de Lajartre EDITOR, WEB EDITION Margaret Craig-Bourdin MAGAZINE WEB PRODUCER Alan Vintar EDITORIAL ASSISTANT Harriet Bruser DIRECTOR, LANGUAGE SERVICES Jane Finlayson EDITOR, PROFESSIONAL MATTERS Mara Gulens CONTRIBUTORS Taryn Abate, Yan Barcelo, Craig Bell, Mary Teresa Bitti, Dwayne Bragonier, Steve Brearton, David Descôteaux, Cathy Hutchinson, John Lorinc, David Malamed, David Trahair, Lisa van de Geyn, Karen Wensley, Trevor Wilson QUALITY REVIEW TEAM Antonella Risi, CPA, CA; Juli-Ann Gorgi, CPA, CA

PUBLISHER Nicholas Cheung, CPA, CA, CIPP/C


Alexandra Garant, (416) 204-3397, David McGee, 416-204-3342, QUEBEC ADVERTISING REPRESENTATIVE Serge Gamache, (450) 651-4257 ADVERTISING COORDINATOR Michael Marks (416) 204-3255 CIRCULATION MANAGER Annette DaRocha (416) 204-3367

CPA MAGAZINE EDITORIAL ADVISORY BOARD: Chair: Nancy Cheng, FCPA, FCA; Vinetta Peek, FCPA, FCMA; Michel Magnan, FCPA, FCA; Fred Clifford, CPA, CA, CPA (Ill.); Debra J. Feltham, FCPA, FCGA; John Redding, CPA, CMA

CPA MAGAZINEis published 10 times a year (with combined issues in January/February and June/July) by the Chartered Professional Accountants of Canada. Opinions expressed are not necessarily endorsed by CPA Canada. Copyright 2016. TORONTO: 277 Wellington St. West, Ontario M5V 3H2, Tel. (416) 977-3222, Fax (416) 204-3409 MONTREAL: 680 Sherbrooke St. West, 17th floor, Quebec H3A 2S3, Tel. (514) 285-5002, Fax (514) 285-5695 SUBSCRIPTION INQUIRIES: Tel. (416) 977-0748 or 1-800-268-3793, Fax (416) 204-3416 ON THE INTERNET: EMAIL:

Members of CPA Canada receive a subscription to CPA Magazine valued at $32. This amount is allocated from their dues and non-deductible therefrom. Additional annual subscriptions are available at the following rates: members $32; students $45; non-members $55. Single copy, $5.50. Outside Canada: $89 for a one-year subscription; $8.90 for a single copy. GST of 5% applies to all domestic sub scriptions. For subscription inquiries, call (416) 977-0748 or 1-800-268-3793 from 9 a.m. to 5 p.m., Monday through Friday; fax: (416) 204-3416. GST registration number 83173 3647 RT0001. Publications Mail Agreement No. 40062437. PRINTED IN CANADA: Return undeliverable Canadian addresses to: CPA Magazine, Chartered Professional Accountants of Canada, 277 Wellington Street West, Toronto, Ontario. M5V 3H2. CPA Magazine is a member of the Canadian Business Press and Magazines Canada. Submissions: CPA Magazine receives from time to time unsolicited manuscripts, including letters to the Editor. All manuscripts, material and other submissions to CPA Magazine become the property of CPA Magazine and the Chartered Professional Accountants of Canada, the publisher. In making submissions, contributors agree to grant and assign to the publisher all copyrights, including, but not limited to, reprints and electronic rights, and all of the contributor’s rights, title and interest in and to the work. The publisher reserves the right to utilize the work or portions thereof in connection with the magazine and/or in any other manner it deems appropriate. No part of this publication can be reproduced, stored in retrieval systems or transmitted, in any form or by any means, without the prior written consent of CPA Magazine. ISSN 2292-5627 CPA Magazine (print), 2292-5635 CPA Magazine (online)

Photo: Paul Orenstein

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