Member Update : A Debt Professional GratitudeBusiness Accountants
As Richard Rees , FCPA , FCA , CPABC ’ s president & CEO , gets ready to embark on the next chapter of his life , we look back on his tremendous contributions to the profession
By Richard Rees , FCPA , FCA
In July 2016 , the BC Supreme Court ruled that the Chartered Professional Accountants Act ( CPA Act ) does not prohibit use by non-members of the designation “ Professional Business Accountant ” or the initials “ PBA ” signifying that designation . This decision , which we As are appealing noted , in could an email have long-term sent to CPABC implications members for the in May regulation 2016 , of the accounting Richard Rees profession , FCPA in , FCA British , CPABC Columbia ’ s inaugural . president & The court CEO ’ s ruling , will be was retiring a narrow from interpretation the position of at the the CPA end Act of that this linked year . Richard restriction has had of the a profound use the impact term on “ professional the organization accountant , on the ” with staff the has provision mentored of regulated and championed services , identified on the volunteers under the with CPA whom Act . If he this has decision collaborated stands , , and it is on significant the profession for two — reasons in BC :, 1 across ) it could Canada erode , the and ability internationally of the province . In honour to properly of his regulate dedicated the service accounting , we profession would like ; and to take 2 ) it a could look back negate some the protections of his professional implied in highlights BC ’ s CPA . legislation and Richard erode became protection the chief of the executive public interest officer of . the Institute of Chartered Accountants of BC ( ICABC ) in 1999 , after 12 years of service with the Regulation Heart and Stroke of Foundation the profession
BC & Yukon ( two as CFO and 10 as Under CEO ). the Throughout Canadian his constitution tenure as , CEO provinces of the are ICABC responsible , Richard for played establishing a central and role regulating provincial the professions , national , , and which international includes accounting initiatives ., CPA and legislation his influential British leadership Columbia continued provides as the a mandate profession for unified the Chartered under Professional the Chartered Accountants Professional British Accountant Columbia ( CPA ( CPABC ) designation ) to set . standards and In 2002 regulate , Richard and educate began an our eight-year members stint on as behalf chair of the Council provincial of government Senior Executives . , the national management committee of the Canadian CA BC profession , and all Canadian , which was provinces responsible , now have for the a single management unified regulatory and implementation for professional the CA profession accountants ’ s strategic . Whether planning they , protection work in public of the
body practice public and , industry ethics , government education and , or qualifications academia , they , and are held communication to the same rules activities , regulations . , and ethical standards . However , unlike other professions In 2003 , such , he as began law , health serving , or engineering on the Canadian , unregulated Institute individuals of Chartered are able Accountants to provide ’ International unregulated Qualifications accounting services Appraisal and Board call themselves ( IQAB ). accountants The IQAB surveys . and assesses professional practice standards and the For qualifications this reason , certain of foreign-trained groups , which accountants primarily , sell and education recommends , are positioning the feasibility themselves of recognition as direct by competitors the Canadian with accounting CPA . However profession , their . members Richard ’ s role are not on held CPA to Canada the same ’ s IQAB standards is ongoing , level . of oversight , or provincial While control these long-standing as CPABC under commitments the CPA Act are , significant which is why , it is protection Richard ’ s of pivotal the term role “ in professional the unification accountant of the ” Canadian is critical accounting . profession that Should will likely the PBA be the court hallmark decision of stand his legacy , it will for seriously generations compromise to come . CPABC Recognized ’ s ability and to respected prevent non-members for his steadfast from leadership implying , Richard , suggesting was , or appointed holding as themselves inaugural out as chair professional CPA Canada accountants ’ s Council provided of Chief they do Executives not use the , the specific national term management “ professional committee accountant ” responsible or another designatioting specifically and managing referenced the strategic in the CPA direction Act . This for could the CPA significantly profession erode , in
for set-
provincial November sovereignty 2013 , and as with president respect & to CEO the regulation of the CPABC of the Joint accounting Venture profession the following . month . This latter role subsequently evolved into his position as CPABC ’ s inaugural president & CEO after the proclamation of CPA legislation in BC in June 2015 .
In particular , some international bodies are pushing for market access for their designations , and would purport to remotely oversee their members ’ work without actually having any significant local infrastructure or any local regulatory authority over their members , such as the investigative Over the past powers five years given , Richard to CPABC has under overseen the the CPA historic Act . These signing foreign of a three-way bodies would merger also agreement not be held in accountable BC ; undertaken to the extensive Province stakeholder of British relations Columbia with , negating members the Province , government ’ s protection , business of the leaders public , and interest other . provincial accounting bodies ; led the legacy transition and creation of a Protection new organization of the through public the interest enactment of CPA legislation ; and worked Competition with and BC consumer ’ s western choice partners are important to establish . Professional the CPA Western accountants compete of Business against . Nationally each other , for he work has had and extensive jobs every involvement day , and — most in
School the importantly profession — they ’ s certification all are held , education to the same , professional rules and standards development . This , and is one international of the biggest professional wins out of recognition unification programs and is very . much in the public Throughout interest . his career , Richard has been extremely active in the community CPABC has hundreds well , serving of on members the boards who and initially committees qualified of the overseas Centre for ( including Excellence myself for ), the and Prevention we have programs of Organ and Failure support ; the to help Vancouver immigrants qualify ; the and West seek Vancouver employment Community in Canada . Foundation ; the BC
Foundation Health Why do Research we need Foundation to have any ; Family local requirements Services Canada for ; professional
and Family Services accountants of the ? As North long as Shore countries ; as well have as on different the faculty legal , advisory tax , regulatory board , for and the accounting Sauder School standards of Business , we must at ensure UBC that . new Canadians properly understand His achievements the environment and contributions they are have to work garnered in . If we him don a number ’ t do this of , distinguished we are not fulfilling awards our over public the interest years . Richard mandate was . recognized by the Financial Government Post has one acknowledged of Canada ’ s “ Top the importance 40 under 40 ” of in regulating 1995 , and the received accounting his profession legacy fellowship by writing designation into law that just certain five years terms later and . services He was honoured are protected with ; therefore a Queen , ’ it s ’ s Diamond critical that Jubilee the spirit Medal of the in 2012 CPA for Act his upheld service . to Should Canada the , and court he decision received stand the ICABC , it will negate Lifetime the Achievement protections specified Award in 2014 the CPA for his Act service and put to the public accounting at risk profession . Anyone could and the call community themselves . some While variation his professional professional accomplishments accountant despite are numerous being unregulated , Richard is , most or regulated proud of to his a level family that . He may and not his meet wife appropriate Elise ( also an local FCPA standards , FCA ), . have two grown sons , Rory and James . With a shared passion for travel , the Concluding family of four thoughts has created many happy memories while visiting countries Currently , around the vast the majority globe . of practitioners in BC who describe themselves Richard as any has variation been a guiding of “ professional force for accountant the accounting ” are members profession through CPABC a and time are of regulated dynamic change by a BC-controlled , and a stalwart body champion overseen of the by CPA the designation province . A . policy His contributions decision to move provincially away from , nationally this is , not and internationally interest are immeasurable and represents . We an thank erosion him of for the his sovereignty efforts , his of dedication the provincial , and
the public
his government commitment ’ s legislation — to his team and mandate at CPABC . ; to our members , candidates , and Once students the courts ; and have to the ruled accounting on the appeal profession , we hope as a that whole the . provincial government And , most will of all continue , we wish to support him the CPABC best of everything taking any as steps his next that chapter may be begins needed . to prevent the circumvention of public protections included in the CPA Act .
Photos by : Chung Chow for Business in Vancouver ( 1 ); Kent Kallberg Studios ( 2 , 6 , 9 ); Alistair Eagle for Richard Rees is the president & CEO of CPABC . Ron Sangha Productions ( 3 ); Ron Sangha Productions ( 4 ); Glen Durrell Photography ( 5 ); Business Council of British Columbia ( 7 ); John Yanyshyn of Visions West Photography ( 8 ).
26 CPABC in Focus • Nov / Dec 2016