Consultations on Professional Liability Insurance
Congratulations to D & H Group LLP ’ s successful 2016 CFE writers .
NOTES & NEWS
Consultations on Professional Liability Insurance
The CPA Public Trust Committee ( PTC ) was established in June 2014 to oversee the development of new CPA regulatory practices . In support of this mandate , the PTC has established several task forces to oversee significant regulatory areas . One such task force is the national Professional Liability Insurance Task Force ( PLITF ), which is chaired by Jamie Midgley , FCPA , FCA , CPABC ’ s executive vice-president of regulation and registrar . The PTC asked the PLITF to develop recommendations with respect to minimum professional liability insurance ( PLI ) requirements for the CPA profession . Minimum PLI requirements are part of the regulatory continuum that protects the public . Insurance is the fall-back mechanism needed when mistakes are made and / or regulatory processes fail ; as such , it protects the general public , the membership , and the CPA brand . Following extensive research of legacy practices in Canada , as well as models used in other international jurisdictions , the PLITF developed its initial recommendations for minimum CPA PLI requirements , which were then circulated to CPA provincial bodies for consultation in the fall of 2016 . In addition to seeking input on these recommendations from CPABC ’ s board and Public Practice Committee , Midgley attended six member forum meetings in October to gather input from more than 130 of BC ’ s public practitioners .
The feedback received by the PLITF will help inform the task force as it develops its final recommendations and other matters for consideration . Updates about this project will be communicated to members through CPABC ’ s monthly e-newsletter ( eNews ) and will be posted on the recently launched News & Views Knowledge Base , which can be found at bccpa . ca / news-views-kb .
Jamie Midgley , FCPA , FCA ( right ), joins Greg Buck , CPA , CA , co-chair of the Abbotsford Practitioners Forum , at a forum meeting in October to gather input on recommendations for minimum professional liability insurance requirements .
Congratulations to D & H Group LLP ’ s successful 2016 CFE writers .
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Left to right : Emily Akin , Stephen DeBeir , Jonathan Fung , David Slocombe , Sophia Ho , Cameron Reid , Jonathan Boey .
14 CPABC in Focus • Jan / Feb 2017