CMA Canada - British Columbia Update Newsletter - Summer 2005 Message from Your CEO & President By Colin Bennett and Karen Botham This fall MBA students at the University of British Columbia, for the first time, will be able to apply to earn their CMA designation concurrently. The opportunity is called a combined CMA/MBA program, and it is one of many alternate channel programs that CMA Canada now offers across the country. Today, in addition to the 18 accredited undergraduate programs, alternate channel programs include the CMA Executive Program and three CMA/MBA programs two of which are offered at universities right here in BC. So why do did CMA Canada and its provincial partners decide to develop these alternate channel programs? Don't they take away from the traditional CMA accreditation process? Don't they somehow dilute the value of the CMA designation if everyone doesn't take the identical pathway to certification? The challenge we faced Like the world of business, the CMA profession started taking hits in the late 1990s. The demands on companies and business professionals in general were quickly changing in response to growing trends such as globalization, the customer economy, technology and related communications, innovation, and speed and agility. Businesses were demanding more from the CMAs they were hiring. These organizations were increasingly looking for university graduates with a diverse toolbox of technical, management, and leadership skills. But fewer individuals were writing the CMA National Entrance Exam and fewer individuals were earning the CMA designation. With the growth of globalization, people were beginning to explore a greater range of opportunities for professional development than ever before. This was 1999 and at this time we were facing a nation-wide implementation of the degree requirement for all exam candidates. We knew one of the reasons we were seeing a decline in membership growth was due to the pending national degree requirement. When we delved deeper into the problem, we realized that the society needed to offer more options, more pathways leading to the CMA designation. Like businesses, we needed to listen to our customers' needs and those needs were providing new entry points into the traditional CMA accreditation process. These new entry points needed to take the candidates' time, professional goals, educational background, and practical experience into greater consideration. We also knew that, for whatever new entry points we decided to develop, we needed to continue to deliver our tradition of excellence and rigorous standards. Page 1
The solution we chose To avoid the danger of diluting standards, CMA Canada and its provincial partners decided in 1999 that we would target three highly qualified groups of potential candidates: individuals with significant senior or executive level experience in strategic financial management; top academic achievers from post-secondary institutions offering degrees; professional accountants who are not certified members of CMA Canada. Once the National Board of Directors approved these recommendations in 1999, we began exploring the development of alternate channels to target these specific groups. For the group with substantial prior experience in strategic financial management, we determined that these individuals may qualify for exemption at an advanced level and therefore begin the traditional CMA accreditation process at a different entry point. This realization later became the basis for the CMA Executive Program. For the top academic achievers group, the National Board of Directors recommended that we package the CMA designation with an MBA. Each CMA/MBA program would entail an alliance between the university and CMA Canada. These CMA/MBA programs could be based on executive MBA programs or on full-term MBA programs. CMA Canada British Columbia became an early supporter of this approach. Out of the three CMA/MBA programs now available in Canada, two of them are offered at BC universities an accomplishment that the provincial team worked hard to achieve. These programs are structured to fulfill the MBA curricula as well as course, project, and experience requirements for the CMA designation. See the interview with Mark Chiarello in this issue of Update for more information about CMA/MBA programs. For the group of professional accountants, we knew that many professionals were specializing in key areas and seeking out designations to demonstrate that expertise. We also knew that today's Canadian professional accountants may work in industry or public practice, in Canada, or anywhere in the world. As a result, CMA Canada pursued mutual recognition agreements with other professional organizations, such as the Chartered Institute of Management Accountants of the United Kingdom (CIMA) and the Chartered Institute of Public Finance and Accountancy (CIPFA). Certified members of these organizations can apply for certified membership at CMA Canada and vice versa. The results we have seen so far We have come a long way since launching our first alternate channel program in BC in 2000. We learned a lot from these experiences and now routinely solicit feedback from CMA Canada, the post-secondary institutions that deliver the programs on our behalf, members like you, program candidates, and CMA staff. This feedback mechanism is a vital component of our quality management processes; it enables us to deliver on systematic improvements each year. We close this message to thank our members who have provided us feedback about numerous topics over the past two years. This is Karen's last message as President; her two Page 2
year term finishes at the end of this September, when Fred Zdan takes over the helm. As always, contact us anytime with any questions or input that you may have. We want to hear from you. Colin Bennett, CMA, FCMA Chief Executive Officer Direct: 604.484.7002 or 1.800.663.9646 extension 7002 Karen Botham, CMA President Email: president@cmabc.com CMA Ambassadors celebrated for Volunteer Efforts Four CMAs received awards during CMA Canada British Columbia 's first Annual Volunteer Appreciation Breakfast in Vancouver on June 14th. Corporate Accountant Stuart Mah of Amec Dynamic Structures Ltd, Senior Financial Accountant Kelvin Lee of Best Buy Canada Ltd, Des Chew of D.J. Chew & Associates, and Accounting Manager Terry Woo of Miller Thomson LLP received the awards in recognition for their volunteer work at numerous CMA events during the last 12 months. Over 65 CMAs and candidate members who had volunteered their time in some capacity over the past year also attended the event. These people have been CMA ambassadors in every sense of the word, said incoming President Fred Zdan of CMA Canada British Columbia. They have always shown dedication and enthusiasm about CMA and are always willing to meet with students, business professionals, and faculty members to talk about the CMA profession. Guest speaker Margaret Hope, a coach and internationally accredited professional speaker, facilitated networking activities to strengthen volunteers' networking and conversation building skills. Author of You're Speaking But are you Connecting?, Hope discussed the importance of CMAs volunteers in the success of building the profile and reputation of CMAs. Terry Woo said he found the breakfast to be great opportunity to meet other volunteers and hone his networking skills. I love volunteering my time with the society and appreciate the society for allowing me to volunteer on a regular basis, said Terry Woo. I get a rush when I have the opportunity to interact with students and potential CMAs. It's inspiring. New CMA/MBA Program available from the Sauder School of Business Update recently interviewed Mark Chiarello about the new Combined CMA/MBA program that's now available from the Sauder School of Business. Mark is a Program Manager at CMA Canada British Columbia and plays an integral role in the development of new and existing alternate channel programs in BC. These programs include the CMA Executive Page 3
Program and CMA/MBA programs. Here's what Mark had to say about the new Combined CMA/MBA program at the University of British Columbia (UBC). What is the new Combined CMA/MBA program at UBC and how is it different from other programs that offer both a designation and an advanced degree? The Combined CMA/MBA at UBC allows students to earn both the CMA and MBA simultaneously. It is different from the Joint CMA/MBA programs that are currently available from Simon Fraser University (SFU) and Queen's University. The difference is in that MBA students from the UBC must also write both days of the CMA National Entrance Exam. MBA candidates from SFU or Queen's University are exempt from the CMA National Entrance Exam. The reason UBC candidates attempt the CMA National Entrance Exam is directly related to work experience. The average UBC MBA student does not have as senior an employment background as SFU or Queen s. As a result, the requirement to write the CMA National Entrance Exam could not be waived. When is this program available? This new Combined CMA/MBA program at UBC is available effective for Fall 2005 admission. The program is full-time. What are the eligibility requirements? Anyone who wants to take the new Combined CMA/MBA program at UBC must first be accepted into the MBA program at the Sauder School of Business. Successful CMA/MBA applicants will satisfy CMA Student Membership requirements and still need to challenge the CMA National Entrance Exam. CMA/MBA students will need to fulfill specific work experience requirements before they can earn their CMA designation. They will need 18 months of operational experience and six months of managerial experience. However, they do not need to complete these requirements while they are earning their CMA designation and MBA. In order to satisfy this experience requirement, they can apply the experience they acquired in the three years prior Page 4
to beginning the Combined CMA/MBA program at UBC, experience they gained during the MBA (i.e. Internship), or in the two years immediately following their graduation from the CMA/MBA program. Who is most likely to be interested in the Combined CMA/MBA program at UBC? Assuming they are eligible, anyone planning to take a MBA at UBC or anyone earning a MBA from UBC right now who wants the added credibility that's associated with the CMA designation. I would encourage all existing and prospective MBA students at UBC to examine the new Combined CMA/MBA program and consider applying. What does this type of program mean to AAT members and CMA student members who haven't yet decided on a pathway leading to the CMA designation? If any of our AAT or CMA student members are interested in taking the Combined CMA/MBA program at UBC, they first need to be accepted into a MBA program by the Sauder School of Business. After being accepted by UBC, they then need to apply to take the CMA/MBA program specifically. It's important to emphasize here that individuals who have previously failed the CMA National Entrance Exam after their second and final attempt are ineligible for the Combined CMA/MBA program at UBC. This new Combined CMA/MBA program isn't applicable to our existing CMAs. What options are available to our certified members who already have their CMA designation but would like to earn their MBA as well? CMA Canada has a partnership with Athabasca University (AU) that allows certified members to apply their CMA designation towards earning an MBA. Beverley Leggett, who earned her CMA designation in the mid 1990s, earned her MBA from AU in 2000 and now provides testimonials on the behalf of the university. Any CMAs interested in AU's MBA programs are encouraged to email AU at cimoffice@athabascau.ca CMA Canada British Columbia has a partnership with Universitas 21 Global (U21). Comprised of eight universities from around the world, U21 is an online international university that offers an MBA. CMAs may qualify for advanced standing in the MBA program. Anyone interested in the U21 MBA program are welcome to contact me directly. Page 5
What can members do to help promote this program and CMA programs in general? The CMA accreditation process has undergone numerous and regular changes over the last 15 years. These changes have been largely dictated by the changing needs of Canadian businesses. Staying informed about the changes is probably one of the biggest things our members can do to help promote CMA. Bob Gautama is our Manager of Market Development here in BC. He makes regular presentations to companies, both large and small, about the value of today's CMA and the various pathways that comprise the CMA accreditation process. He also meets with people individually who want to learn more about programs such as the CMA FastTrack Program, CMA Executive Program, and the CMA/MBA Programs. If members want to learn more about these programs, they can reach Bob at 1.800.665.9646, 604.484.7021, or bgautama@cmabc.com. Bob often provides information to members, who then pass it along to interested supervisors, HR personnel, colleagues, friends or family members. Funneling current information to people is the second biggest thing our members can do to help promote CMA. If someone is interested in taking the new Combined CMA/MBA program at UBC, how can they get information? The Sauder School of Business offers information sessions about their MBA programs. Prospective MBA students should check out Sauder's website for details about those sessions. In the coming weeks, we will publish information about the Combined CMA/MBA program at cmabc.com as well as on Sauder's website. In the meantime, prospective MBA students are encouraged to speak to Bob Gautama here at CMA. He can outline all of their options. Existing MBA students at UBC are welcome to contact me about specific questions about the combined CMA/MBA program. My direct line is 604.484.7065 and my email is mark@cmabc.com. CMA Scholarship Fund going strong thanks to our Donors The CMA Scholarship Fund provides for 14 scholarships at 11 post-secondary institutions across British Columbia. These scholarships, each worth $1500 towards a remission of CMA membership and program fees, are designed to help emerging talent from BC's top business schools to pursue a career in the CMA profession. While investments help finance many of the scholarships, we rely on the donations of members like you to help with the balance. Page 6
We thank the following individuals who made a donation to the CMA Scholarship Fund during the last two years: Majella Admana, CMA; Yolanda Gonzales, CMA; Vincent Poon, CMA, FCMA; D. Robert Alexander, CMA; Bradley Goodwin; Mohamed Rajwani, CMA; Peter Alig, CMA; David Grace, CMA; Frank Ramcharita, CMA; Darryn Allegretto; Ellen Hamer, CMA; Balwinder Rana, CMA; James Anderson, CMA George Hartmann, CMA, Sandra Record; Candidate; FCMA; Jerry Asner, CMA; Rosemary Harvey, CMA; Dwight Reynoldson, CMA; Joan Axford, CMA; Warren Hastings, CMA; A. John Ritchie, CMA; Shirley Baker; Brenda Hersh, CMA; Fri Rodli, CMA; William Barker, CMA; Daniel Ho, CMA; Grant Rolph, CMA; John Huguet, CMA, Thomas Barley, CMA; Leslie Schindelka, CMA; FCMA; Rani Basi, CMA Student; Frank Hunaus, CMA; Randy Schwindt, CMA; Galina Bazova, CMA Candidate; Ernest Iannacone, CMA, FCMA; Patrick Seeley, CMA; Grant Beaumont, CMA; Allen Jakel, CMA; June Seto, CMA; Adrienne Bell, CMA; Y.C.Norman Kam, CMA; Kumar Sharma, CMA; Colin Bennett, CMA, FCMA; Kenneth Karasick, CMA; John Shaw, CMA; Carl Bertholm, CMA; Mark Kennedy, CMA; Mi sun Shin, CMA; Bayne Boyes, CMA, FCMA; Barbara Keyes, CMA; Harold Shorten, CMA; Ross Brearley, CMA; Michelle Kinakin, CMA; Melinda Shum, AAT; David Burke, CMA; Ronald Kloess, CMA; Harry Skelton, CMA; Brian Butt, CMA; Wayne Koch, CMA; Darrin Snell, CMA; Christian Cameron, CMA; Roman Kozak, CMA; Peter So, CMA; Lawrence Kumar, Sr., R. Glynn Spelliscy, CMA, Francis Camilleri, CMA; CMA; FCMA; Hana Carbert, CMA, FCMA; Karim Lalani, CMA; Andrew Spence, CMA; Lavinio Cavalcante, CMA Dennis Lam, CMA; Heidi Steinthorson, CMA; Candidate; Willie Chan, CMA; Dennis Law, CMA; Robert Stuart, CMA, FCMA; Bob Cheng, CMA; Sui Law, CMA; Madhu Suri, CMA; Nevin Chernick, CMA; Kam Kong Choi, CMA; Lawrence Kar Yiu Lee, AAT; Rick Lightheart, CMA, FCMA; Kayoko Takeuchi, CMA Candidate; Yee-shing Tse, CMA; Jack Chun, CMA; Jim Logan, CMA; Dorothy Turner, CMA; Stinson Clarke, CMA; Gary Lotochinski, CMA; Kendall Turner, CMA; Allan Clayton, CMA; Carol MacKillop, CMA; H. Kendall Turner, CMA; Catherine Coates, CMA; Richard MacNeill, CMA; Manon Van tuyl, CMA; Page 7
Jeff Colbourne, CMA; Stuart Mah, CMA; Robert Venema, CMA; Roger Cradock, CMA, FCMA; Neil Mcclelland, CMA; Paul Wang, CMA; Paul Cumberland, CMA; Shendi McGreen, CMA; Josephine Wirth, CMA; Stephen McKay, CMA Josephina Curtis, CMA; Lynn Wise, CMA; Candidate; Alexander Dancs, CMA; Christine McKinnon, CMA; Michael Wong, CMA; Adriaan Duinkerke, CMA; James McLennan, CMA; Daniel Wong, CMA; Bruce Dunn, CMA; Abdulrahim Meghji, CMA; Peter Wong, CMA; William Easton,CMA,FCMA; Claire Milne; David Wootton, AAT; Elaine Eccleston, CMA; Silvia Minka, CMA; Tracy Yaeger, CMA; Youssef Ezzat, CMA Student; Cristina Ng, CMA Student; Joseph Yau, CMA, FCMA; Monique Ng-Cheong James Ferguson, CMA; Benjamin Yeung, CMA; Sang, CMA; Theresa Ohene-asante, Mitchell Ferguson, CMA; Tony Yuen, CMA; CMA; Dominic Fiore, CMA; Grant Parker, CMA; Emil Zak, CMA; Victor Fowler, CMA; Brent Paulsen, CMA; Ronald Zimmer, CMA; Hans Frie, CMA; Linda Penner, CMA; Stjepan Zupan, CMA. G. Arnold Fry, CMA; Nora Perry, CMA; Joseph Giles, CMA; Jessie Ponech, CMA; We would also like to thank the TELUS Corporation for its donation. If you would like to make a donation to the CMA Scholarship Fund this year, contact Sandra Record at 604.484.7006 or sandra@cmabc.com CMA National & International Developments CMA Canada has partnered with the American Institute of Certified Public Accountants (AICPA) to develop new management accounting guidelines. One guideline will address identifying and measuring risk for improved control. The collaboration is intended to provide tools and techniques to identify and measure risks in organizations, particularly in the area on internal control systems at the strategic and operational levels. CMA Canada also plans to publish five new Management Accounting Standards on database management systems, enterprise resource management systems, managing organizational change, supply chain management, and management intellectual capital. BC Provincial & Chapter News Earlier this year, CMA Canada and its provincial partners launched a national testimonial campaign to continue to build the brand in the marketplace. To demonstrate the versatility of the CMA designation, this advertising campaign features CMAs from across the country and from a range of industries and businesses. These CMAs were chosen to support building the profile of the CMA designation as well as to help in recruitment efforts in the workplace as Page 8
well as on campus. Besides print ads, the campaign includes brochures and displays. We thank the following BC CMAs who participated in this campaign and continue to assist with our profile building efforts: Rene Cardinal, Executive Vice President of Finance, Intrawest Resort Club Group; Hilary Cassady, Regional IS Director for Danone Asia; Stephen Lee, President, Please Mum Kid's Wear; and Colette Mende, Director of Finance, Administration and Development at Vancouver Airport Services Ltd. CMA Canada British Columbia will welcome 175 new CMAs at the Fairmont Waterfront Hotel on Saturday, October 29th, 2005. For more information about this year's event, contact Lina Melo at 604.484.7007 or email lina@cmabc.com The 2005 Annual General Meeting (AGM) is scheduled for Friday, September 30th at 3:00 pm at Vancouver 's Crowne Plaza Hotel on 801 West Georgia Street. For more information, contact Lina Melo at 604.484.7007 or email lina@cmabc.com The FCMA Due Digilence Committee at CMA Canada is reviewing nominations for the FCMA designation from across Canada and Hong Kong. The committee will inform CMA Canada's partners in July of the review results. The National Board of Directors will review the committee's recommendations and approve the awarding of the FCMA designation in September 2005. After three years of planning and reconstruction, the former Bank of Montreal headquarters at 520 Granville Street in downtown Vancouver will get a new lease on life later this summer. The heritage building now houses the Segal Graduate School of Business as well as a number of research centres, including CMA Strategic Change and Performance Management. Simon Fraser University (SFU) will host a grand opening of the new facilities on September 21st, 2005. SFU is one of CMA Canada's partners in Management Education. Visit the Segal Graduate School of Business website for more information. The Investment Capital Branch of the Ministry of Economic Development is seeking input regarding changes to Part 1 of the Employee Investment Act. Responsible for administering the Act, this branch has prepared a discussion paper summarizing various amendments to improve the Employee Share Ownership Program and increase program participation. The deadline for all submissions and comments is August 1st, 2005. For more information, visit the Ministry of Economic Development website or contact Sylvia Selig at 1.800.665.5457, 250.952.0225 or sylvia.selig@gov.bc.ca A small but enthusiastic group of West Kootenay members tackled a deluged Castlegar golf course on June 17th and completed a very wet 9 holes as a primer to the Chapter's AGM dinner meeting. Chair Les Gilbert says that one member, who had night vision goggles, wipers, and web feet, posted a respectable score. Dr. Daniel F. Muzyka, the Dean of the Sauder School of Business, was elected to the Chair of the Vancouver Board of Trade (VBOT) in June 2005. According a news release from the University of British Columbia, Muzyka told participants at VBOT's Annual General Meeting that he intends to start a dialogue about what British Columbians think Vancouver and the province will look like in 2025. Muzyaka, who starts his second term as Dean this September, is one of the many strong supporters of CMAs and the CMA designation at UBC. Page 9
The Vancouver Chapter hosted two very successful events in June. The Night at the Races June 10th event featured General Manager and CMA Michael Brown, who spoke about the implementation of a change management process at the Hastings Race Track. Over 60 members of the Vancouver Chapter attended the presentation and dinner and checked out the horse races. The 7th Annual Golf Classic drew over 70 participants on June 24th. On the behalf the Vancouver Chapter, Past Chair David Olsen says special thanks to host Eaglequest Coyote Creek Golf Course and sponsors Bell Canada, Robert Half management Resources, Ocean Trailer, and the Portables. Event organizers included Des Chew, Cathy Rogers, Rob Pellatt, and David Olsen. CMA Notebook Access to business graduate programs has recently expanded in the Okanagan. The Sauder School of Business at University of British Columbia now offers a Masters in Business Administration at its newly renovated north Kelowna campus. The program is delivered on Fridays and weekends over 28 months. The next application deadline is September 30th, 2005. The University of British Columbia is one of CMA Canada's partners in Management Education. The university offers a Bachelors in Commerce, which has been accredited by CMA Canada. Most recently, it also offers a full-time CMA/MBA program to qualified candidates. Visit the MBA program website for more information about graduate programs available in Kelowna. Camosun College is accepting applications for its new Bachelor of Business Administration (Accounting) program. The second cohort of students will begin classes on September 5th, 2005. Camosun College has been a CMA Strategic Partner since 1999, offering the CMA FastTrack Program every September in Victoria. For more information about the accounting program, visit the BBA program website. Live outside the Lower Mainland or Victoria and want to earn an undergraduate degree at your own pace? Formerly BCOU, Thompson Rivers University (TRU) has awarded CMAs (certified members of CMA Canada British Columbia ) a block of 90 transfer credits towards the completion of a Bachelor of Business Administration (accounting). If you're earning your CMA designation now and do not have a degree, you could be eligible for provisional admission. For more information, visit the TRU website. Looking for a MBA program that builds on your strategic financial management expertise? One of CMA Canada's partners in Management Education, Athabasca University (AU) offers an executive MBA, MBA in Technology Management, and MBA in Project Management. The university is holding an information session at the Fairmont Hotel in Vancouver on September 20th, 2005. For more information, visit AU's website. CMAs (certified members of CMA Canada British Columbia ) may be able to add the Certified Financial Planner (CFP) designation to their credentials. If you have three or more years of practical experience in financial planning, you may have the opportunity to challenge the CFP exams on a challenge basis. For more information, visit the Financial Planners Council of Canada's website. CMA & Student News Page 10
CMA Tania Salji is the new Director of Finance at the for the Arts Club Theatre Company in Vancouver, according to the July 11th issue of the Vancouver Sun. Congratulations to CMA Wayne Noye. The Surrey Leader-News reported in its June 29th issue that Noye has been chosen to fill the shoes of Wayne Johnson, who is retiring after nearly 30 years with Surrey School District. Formerly the assistant-treasurer, Noye assumes the role of treasurer this fall. Three CMAs were named in a recent newspaper article about the growing demand for accountants in British Columbia. CEO Robert (Bob) Meggy at the Great Little Box Company; Maureen Fizzell, Associate Dean of Business at Simon Fraser University; and Provincial Revenue Minister Rick Thorpe were among the sources who were either quoted or mentioned in June 29th issue of the Vancouver Sun. A CMA in the Okanagan has co-founded a new management consulting practice designed to help growing companies address skill gaps. Dean Warner and his business partner, Mark Vanderkam, provide services that include research and feasibility studies, business plan development, business management, financial management, marketing strategy, marketing communications, sales programs, and much more. The practice is part of the Western Business Consulting Limited, according to the Kelowna Capital News. CMA Jean M. Anderson has been writing a regular column for the Small Business Corner of the Burnaby News Leader. In a June 10th issue, Anderson discussed what small businesses should consider when providing credit to customers. Phyllis Chivers, a CMA who ran her own business in central Vancouver Island, is the new Business Development Coordinator for the Ladysmith-Cowichan office of the Business Futures self employment program. According to the Ladysmith Chronicle, Chivers will help budding enterpreneurs assess and shape their business ideas, review their business plans, and ongoing assistance once they open their doors for business. Ten CMAs have recently transferred their certified membership to CMA Canada British Columbia: Robert Earle, Paula Ehmann, Shirley Franklin, David Fujimagari, William Landiuk, Shannon Mack, Joe Remedios, Kathy Soetaert, Kathryn Standeven, and Mandy Tong. Email your news to cmanewsletter@cmabc.com Member Resignations, Terminations & Reinstatements In accordance to Bylaw 3.09, the following member has resigned from certified membership: Michael Yat-Shun Ng, Surrey The following member has been reinstated as a certified member in accordance to Bylaw 3.09: Laara Gean, Vancouver. Page 11
Members in Memoriam We extend our sympathies to the family and friends of the following member: John M. Moffatt, CMA (1964), North Vancouver. John was a member of the Certified Management Accountants Society of British Columbia for 24 years. He earned his CMA designation in Ontario before working in Quebec and eventually moving to British Columbia in 1980. After working as Secretary/Treasurer for PBK Engineering Ltd. for 11 years, he retired in 1996. He enjoyed volunteering and his contributions to the community included serving as Treasurer for the Canadian Wheelchair Sports Association and the African Community Technical Services. He passed away in October 2004 at the age of 73. End of Update For feedback or content submissions, email us cmanewsletter@cmabc.com To change the email address we use to inform you of Update's availability, update your membership contact record online now or email your Member Services Representative, Shobna Nand, at shobna@cmabc.com Update is published four times a year and is distributed to student, candidate and certified members of the Certified Management Accountants Society of British Columbia. While every effort is made to ensure that the information contained in this newsletter is factually accurate and complete upon publication, on occasion errors do occur. We apologize in advance for any inconvenience that any errors may cause. Page 12