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Paperless Office

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Date: May 13, 2017

Name: Paperless Office

Presenter: Tony Tsao

Many entrepreneurs are leaning towards paperless concept to create productivity; moreover, they believe paperless is the future direction for businesses. The Chartered Professional Accountants of British Columbia (CPABC) Richmond Chapter invites Tony Tsao, Director of Purplo Consulting Inc., to discuss the best practice of implementing paperless operation. In this presentation, entrepreneurs will learn the strategies to build paperless. Tony Tsao will share his experience to help entrepreneurs develop paperless framework for their businesses and reduce costs in operation workflow.

Tony Tsao is the Director of Purplo Consulting Inc. He helps many entrepreneurs to integrate their business with modern technology. He also helps them to see the benefit of leveraging technology into their businesses. Tony Tsao is a Certified Management Accountant. He volunteers in Junior Achievement of Canada as a Class Leader, and he is a Board Director for Taiwan Chamber of Commerce in BC. Moreover, his passion in technology has inspired many young entrepreneurs in technology sector.

Tony Tsao believes paperless office is the next shift in any business industries. The concept of paperless office consists of 3 major factors: people, infrastructure, and process. People is considered to be the most important factor. People focuses on culture and change. It can be difficult to explain change, especially there is resistance from people. The infrastructure in the digital world is evolving. Many operating functions are now processed through computers. Consumers usually are the first to test bug when new technology is released. When the new technology is matured, it will sell to big corporation as premium package. Many entrepreneurs tend to forget about process. Technology is no longer acceptable to only store or archive. Instead, entrepreneurs look for automation. Software is what entrepreneurs are demanding in today’s digital world.

Paperless is important because it can save money, offer better client service and work anywhere. Cost of storage and staffing can be reduced. There will be more customer customization when entrepreneurs adopt the paperless concept. Furthermore, entrepreneurs are able to rely on remote access information for digital records through internet connection.

“A happy client is a repeat client”

The cost of implementing paperless system software depends on the size of the organization. However, if the culture is not compatible, the paperless system will reduce the productivity. The risk of employee dissatisfaction comes from no involvement of decision making from employees, no buy-ins, and no guideline in place. Therefore, it is rare to see entrepreneurs go complete paperless.

Tsao emphasizes paperless is a culture. Entrepreneurs need to identify if there is any tension when paperless concept is introduced. It is not for everyone. Many entrepreneurs will implement only a portion of their operation into paperless. There will be a hurtle and it is up to entrepreneurs and their teams to overcome it.

Tsao shares the 3 levels of paperless: digital office, paperless office, and paperless office with workflow. Digital office uses technology tools, but the final product is still paper. Paperless office will include digital copy of the final output. Lastly, the paperless office with workflow will have alert, automation, triggers and communications.

There are 4 steps go paperless.

  1. Planning
  2. Tool selection
  3. Implement
  4. Review

Tsao shares the planning step is the key to success because it builds the foundation of mindset, workflow, and file structure. It allows entrepreneurs to understand their current situation. They need executive sponsor, empower paperless champions, define key roles, and get buy-ins. Workflow helps entrepreneurs to see the importance of document management, alerts and automation. Tsao recommends entrepreneurs to use diagrams or flowcharts to illustrate workflow. It helps entrepreneurs to think about the flow of document and engagements. For entrepreneurs, Tsao suggests them to use Salesforce, Podio, or MyDocSafe to help their workflow.

Tsao illustrates the diagram of Points of Entry. When client data flows into the paperless system, it leads to document intake and outflow. The usage of the document will store in the engagement. Once it is complete, it will deliver the information out of the paperless system. Tsao wants entrepreneurs to carefully structure how the files organized. This includes the types of files, access, and conversion date.

“If human do the process, you will get human error, so let the system do the work”

The second step is tool selection. Entrepreneurs needs to select the right tools for software, hardware, training and IT support. Software includes productivity, document, workflow management and communication. Hardware includes scanner, server and network. It is suggested to hire training provider and IT professional for support.

The third step is implementation. Based on experience, Tsao estimates the implementation will take around 1 year. It usually takes 4 months to scan old files. Tsao recommends entrepreneurs to do pilot test on one department first then expand. Remember to work with paperless champions and provide enough training.

The last step is review. The is the stage where entrepreneurs need to listen to users for feedback. Feedbacks identify issues and it helps entrepreneurs to reiterate the current process. It is important to document any changes.

“Whether going to paperless is still personal choice”

Paperless system can be overwhelming for entrepreneurs. Overcome the change resistance from the team can be challenging. Fear is valid, and people will resist. They think change is bad news. At first, people experience blissful ignorance. It leads to informal anguish. When they adapt the system, they will come to term. Lastly, they will have realistic support.

Tsao suggests some useful software and hardware for entrepreneurs. For scanner, Fujitsu ScanSnap iX500 is a great investment. It is wireless and has the OCR option; however, it has TWAIN issue. For server, it is suggested to invest from Tier 1 manufacture companies. It lasts longer and has less compatibility issues. For software, Adobe Acrobat DC can be expensive. Therefore, it is suggested to use it only if it is required from contracts. The alternative for Adobe Acrobat DC is Foxit Reader. It has the main feature of Adobe Acrobat DC on free version. For practice management tool, entrepreneurs can try OfficeTools Workspace for CRM and Document. This tool can help entrepreneurs manage folders and analyze how long users access the file. It also has customer portal. Vohcom Page is another great software for file storage. It is simple and it can import/export outlook emails. E-Courier is a great secured way to deliver files online. Doc.It is great for document management. It uses OCR searchable feature, and it manages file structure. Podio is a great for workflow structure. It is cheaper, and it has customized option.

Backup is important. Tsao believes every industry must has a system for backup files. Anti-virus is mandatory. Many anti-virus programs provide centralized dashboard for monitoring. TPS software helps entrepreneurs track time. Tsao recommends entrepreneurs to get 2 monitors. For paperless, many entrepreneurs will go for 3 monitors. They also can get Google Chromecast for presentation purpose. Entrepreneurs can download TWOmonUSB app to covert iPad into monitor. It is important to purchase software with training component. It is suggested to get IT team because outsource is better than over burden someone in the company with technology issues.

There are other concerns entrepreneurs have for paperless system. The security of using email or cloud is a concern. The automation for proper backup is another concern. Network configuration manual is needed. Where is the IT resources? Outside assistance? Or maybe in-house system?

Many entrepreneurs make the mistake of try to tackle all at once, especially scanning. They need to have a plan first. They need document process. They need to think about digital file organization. They need IT infrastructure, and they need proper training.

“Why aren’t you going paperless? It is totally viable”

Personal Branding – How to communicate for more impact and influence

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Date: April 8, 2017

Name: Personal Branding – How to communicate for more impact and influence

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Presenter: Audrey Joy Kwan

The influence on first impression is valuable for successful entrepreneurs; moreover, they need to be aware of how communication can impact their emotional intelligence. The Chartered Professional Accountants of British Columbia (CPABC) Richmond Chapter invites Audrey Joy Kwan, the Owner of Audrey Joy Kwan Communications, to discuss ways to improve communication for better leadership in any industry. Audrey Joy Kwan will reveal the strategy to leverage the power of body language. In this presentation, entrepreneurs will learn the framework of becoming an effective communicator. Moreover, they will take the advantage of their strengths to maximize their public marketing.

Audrey Joy Kwan is the Owner of Audrey Joy Kwan Communications. Many entrepreneurs refer her as “Communication Strategist”. Her ability of storytelling marketing help many companies to connect with their ideal customers. She was the Marketing Communications Manager for BC Centre for Ability and the Consultant of Indulge Living. Audrey Joy Kwan is currently volunteering as Vice President of Public Relations in Toastmaster International District 96. She helps many young entrepreneurs build successful branding. She is a role model for many young entrepreneurs.

Audrey Joy Kwan was not born with the gift of communication; in fact, she had the introvert personality. With training and hard work, she managed to jump out of that comfort zone. The main takeaway through her journey was that “communication is about giving, not getting”.

The key in communication is to engage with people and create meaningful conversation. Kwan states 2 kinds of communications: verbal and nonverbal. The best verbal communicator is usually the best listener. The top 7 barriers to good communication according to Kwan are listed as follows.

  • Quick to judge
  • Make assumptions
  • Poor listener
  • Low confidence
  • Avoid conflict
  • Poor body language
  • Take things too personally

Kwan wants entrepreneurs to become a “ninja listener”. If there is an owner manual for understanding how to communicate with others, entrepreneurs will be stress free. Unfortunately, there is no such thing because communication is like an art, not linear.

Kwan discovers there are 4 types of communication personalities: blue, green, orange, and gold. Blue focuses on relationship and authenticity. Green focuses on knowledge and understanding. Orange focuses on freedom and skillfulness, and yellow focuses on duty and responsibility. The strength for blue includes empathetic, flexible and compassion, but blue shows stress if they meet someone who are unappreciated and cold. Green refers to analytical and problem solvers with high standard, but it stresses when people are in interruptions and emotion outburst. Orange is adventurous, impulsive, and love attention, but it shows stress on people who lack actions and deadlines. Lastly, gold is detailed oriented and practical, but it shows stress when people are lacked on routine, rules and instruction. Everyone has all types of communication; furthermore, everyone will dominate one over the other 3.

Typically, when orange meets with gold, it will have conflict. Green normally will show stiff face. To communicate with blue, Kwan suggests entrepreneurs to tilt their head and noddle. Many entrepreneurs are living in orange because they do not afraid of risks.

“Seek first to understand, then to be understood”

It is important to master the body language. Kwan believes body reacts on emotion. Based on research, different emotion leads blow flow to different location. Body language and emotions are related. The key is to bring awareness.

Kwan lists 5 major nonverbal communications.

  1. Posture
  2. Movement
  3. Gesture
  4. Voice
  5. Face

Entrepreneur react differently in all 5 nonverbal communications when they are in low or high confidence. However, everyone has his or her own baseline. The key is it all starts with awareness. It leads to actions, and turn to adoption. Every entrepreneur can learn it; however, it is up to entrepreneur to discover it.

Kwan believes first impression is important because it is impactful. A good first impression can override every impression afterwards. Whenever entrepreneurs look at somebody during communication, they are giving authority to others. Based on research, there are 800 signals send between 2 people every 30 minutes. 93% of those signals are nonverbal. The power of body language can help entrepreneurs build overall performance and speaker presence.

During first impression, hands are the first thing people notice. There is a reason behind this statement. Traditionally, people will look at their hands for weapon to judge whether or not they are friends or enemy. To build trust, Kwan emphasizes the key indicators are visible, expressive and gesture. This means hands need to show and do not hide them. Entrepreneurs need to use hands as a part of speech. Different hand gesture works with different scenario. Entrepreneurs can use chop (up and down motion) when they want to plan information. When they use show (congruent), it will increase trust. When they use open hand, it shows friendliness. If they use close hand, it shows aggressive. Open hands allow people to take actions during presentation.

Power posing can change physical state and feeling. Kwan shows power posing can reduce cortisol and increase testosterone. Based on statistic, power posing increase 33% on taking more risks, 20% on increase testosterone, and 18% on reduce cortisol. Entrepreneurs who are using low power pose will increase cortisol and decrease testosterone. Therefore, pre-power pose is important for meeting. The launch stance is considered the natural position. It is the tone down version of high power pose. Entrepreneurs can observe people in their launch stance for their personalities. Kwan wants entrepreneurs to remember not to cross hands because cross hands show defensive.

Eye patterns is essential in communication. It is the sub-conscious signals to brain. There are 3 types of eye patterns.

  • Power gazing
  • Social gazing
  • Intimate gazing

Power gazing is when entrepreneurs look at other’s eyes, then forehead. It shows authority. Social gazing is when they look at other’s eyes, then nose. It shows social and calm. However, intimate gazing is when they look at other’s eyes, then chest. It shows flirting. It is important to know what others think because it puts them in control.

There are many micro expressions on face impression. For happiness, entrepreneurs can look for cheek raise and lips drain. For fear, they can look for brows raise and eyes had upper white showing. Anger shows brows lower, tip tense or chin forward. Contempt looks for one side of the mouth raises and eyes can be narrowed at target. Surprise looks for brows raised, white of the eyes above or open mouth. Disgust looks for nose crinkled, lips pull up or upper row of teeth visible. Sadness shows inner corners of eyebrow drain, eyes droopy or chin back. These are examples of different emotions with different micro expressions.

Kwan lists some example of procedures for each emotion. When people are in happiness state, entrepreneurs can celebrate together. However, they need to watch out for fake happiness. For fear, they can ask reassurance or explanation. When there is anger, entrepreneurs can avoid offensive, find the source, and then cooperate. When someone is in contempt mode, entrepreneurs can purse more information and build rapport. For surprise, entrepreneurs can ask explanation or review goals with them. When someone is in disgust mode, entrepreneurs can identify problem and provide solution. For sadness, they can offer help, empathy and space.

CPABC – 2017 Reward and Risk – A Primer

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Date: March 4, 2017

Name: CPABC – 2017 Reward and Risk – A Primer

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Presenter: Karen Horcher

Successful entrepreneurs who work oversea use hedging and derivatives effectively. Moreover, their strategies reflect on the impact from current financial market and risks. The Chartered Professional Accountants of British Columbia (CPABC) Surrey Chapter invites Karen Horcher, the Treasury Consultant from Hedge Rho Management Inc, to discuss her perspective on hedging and derivatives. Karen Horcher will help entrepreneurs to understand risk, set strategy, and implement right approach. In addition, entrepreneurs will also learn some of essential changes affecting financial markets and risk.

Karen Horcher is the Treasury Consultant from Hedge Rho Management Inc. She holds two designations: Chartered Professional Accountant, and Chartered Financial Analyst. Karen Horcher was a member of Board of Directors for Pacific Pilotage Authority for over 9 years. She is currently one of the advisory board members in CPA Canada. Moreover, she published “Essentials of Financial Risk Management”, “Essentials of Managing Treasury”, and “Practical Guide to Managing Foreign Exchange Risk”.

Hedging and Derivatives

In any business, entrepreneurs must remember that no consultant knows better than them. They are obligated to understand their own risks. Risks come from external and internal. External comes from global market, sales, competitors, inputs, regulatory environment, brand, reputation, and size. Internal includes people, system, processes, pricing, products, projects and other.

Business is like a portfolio of other businesses. It is important to think about what potential ways their customers might go somewhere else. Competitors can drive what entrepreneurs do, especially when competitors can change price easily. Attending Accounting and Sales conference is suggested by Horcher because accounting drives money and sales drives opportunity. Horcher suggests whenever founders or potential decision makers retire, usually systems will change and entrepreneurs should anticipate new risks.

Horcher indicates financial risks make up of market risks, credit risks, and operational risks. Market risks includes interest risks, exchange rate, commodities, and equities. Credit risks come from industry, sovereign, and counterparty. Operational risks come from systems, people and process.

When it comes to risk, entrepreneurs need to think about if it is a part of core business, accident or purpose. The risk can be affected on customers, sales and market share. It is important to know if there is ability to shift risk on other stakeholders, especially competitors.

“Run your business as core, speculate with other”

Entrepreneurs need to consider the risk culture. Every organization is unique, and risks can be developed from ownership, structure, historical or circumstantial. The main questions entrepreneurs need to ask themselves.

  1. Do we have confidence in our forecast?
  2. How much are we willing to lose?

Most important, Horcher believes entrepreneurs need to know how their business think and how the business manage risk.

Should entrepreneurs hedge? It depends on many factors. Factors include the confidence in forecast, market view, risk tolerance, opportunity loss, the cost of hedging and competitive considerations. Entrepreneurs might already have nature hedge in their businesses. To deal with exchange rate, Horcher recommends entrepreneurs to develop their own market view. They can ask others for research and they will be amazed on how much they already know. When there is opportunity loss, it does not mean entrepreneurs make the wrong decision. Therefore, entrepreneurs can choose not to hedge, business hedge with minimize exposure, hedge using derivatives, or combination of approach. Statistically, successful business will hedge depending on forecast. Based on average, business only hedge 50-70%.

Entrepreneurs can create policies because policies provide framework. This will create a good foundation for procedure and controls. It also facilities measurement and reporting. It has a clear mandate to avoid judging with hindsight. If entrepreneurs want to forecast exchange rate, Horcher suggests them to ask economist. However, forecast is never prefect.

Implementing the right approach can be difficult for entrepreneurs. They can use forward-type derivatives. Forward type includes forwards, future, forward rate agreements, and swaps. The key is that forward type uses fix rate and there is no cost to enter. All parties are obligated to act on the agreement, and forward type do provide some certainty.

Another approach is using options. Options include puts, calls, collars, caps, floors, swaptions, structured, and exotics. It works like an insurance model, which means buyers purchase premium, sellers sell premium, and both are obligated to deliver. Typically, the premium is the sunk cost. Only the seller is obligated to exercise the option.

Entrepreneurs can use derivatives to absorb risks internally. The economic exposure has low margin. It alters process, and it changes the way they do things. Another method is to shift risk to customers. Horcher suggests entrepreneurs to invoice in Canadian dollar. They can develop new source of currency to pay for inputs, or look at their pricing for other differentiations or rate adjustments. They can also shift risk to vendors by paying in another currency or us fixed-price or long-term contracts. Entrepreneurs need to know their exposure. They need to know if it is freely-traded, derivative availability, and market intelligence. Horcher wants entrepreneurs to watch out for over hedging.

Recent change affect financial markets

Horcher provides some major updates that affect financial markets.

Based on G-20 Pittsburgh statement, there were 21 specific recommendations on Over the Counter (OTC). These recommendations include derivative standardization, exchange electronic trading policy, trade reporting and central counterparty clearing.

For trade reporting, it is mandatory depending on province. The reporting excludes any spot foreign exchange transactions within 2 days, commodities, and exchange traded derivatives. The legal entity identifier, DTCC, and CME are established under trade reporting. Entrepreneurs can check British Columbia Securities Commission website for reporting requirement.

Traditionally, OTC derivatives accept bilateral clearing as direct settlement. Now, it is required to use central clearing. Central clearing takes swaps, fixed income, repo, future, options, and currencies to one destination. It is net one payment per currency per day. It is oversight by securities regular or central bank.

There is now an official international reserve. This holds in exchange fund account for GoC. It includes SDR, IMP reserve position, and gold. However, Canada had sold a majority of gold in 2003 and melt the rest. In 2016, there were only 77 ounces left. Canada did not reserve gold because gold is too expense to hold.

The Buffett’s big bet is still on going. Warren Buffet believes high fees will doom hedge funds. Fees come from annual fee, performance fee, active trading cost, and other fund hedge costs. There is new bond reporting requirement. Entrepreneurs can visit Investment Industry Regulatory Organization of Canada for detail.

Horcher wants entrepreneurs to remember the lesson on the 1987 crash. Entrepreneurs should be aware not to let history rerun itself again.

How to write faster, better

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Date: December 10, 2016

Name: How to write faster, better

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Presenter: Daphne Gray-Grant

Time is a factor for entrepreneurs who are creating their own contents; moreover, to write faster with shorter time is a skill all entrepreneurs need to learn. The Chartered Professional Accountants of British Columbia (CPABC) Richmond Chapter invites Daphne Gray-Grant, the Principal at The Publication Coach, to discuss the strategies on writing more efficient and effective. Daphne Gray-Grant will share the “Mindmap” technique to help entrepreneurs develop better ideas. In addition, Daphne Gray-Grant will help entrepreneurs to break some of their negative blockage and habits in business writing.

Daphne Gray-Grant is the Principal at The Publication Coach. She was a former editor for Weyerhaeuser, MacMillan Bloedel and Vancouver Sun for over 20 years. Gray-Grant helped many young entrepreneurs to become more skillful writers and communicators. She is also a keynote speaker for many seminars. She published a book called “8½ Steps to Writing Faster, Better” to help entrepreneurs gain the extra edge in their businesses. In addition, she has the passion to help entrepreneurs to go above and beyond.

Daphne Gray-Grant believes outlining is a way to hate writing process. The left side of the brain uses linear and the right side is creativity. When entrepreneurs write, they use the creativity side, not linear. The problem is many entrepreneurs are good at linear, but they have difficulty to turn to creative side. Only one side drives the other. She encourages entrepreneurs to stop using outlining; instead, they should use mindmap.

“It is not left vs right, it is a metaphor”

Mindmap is a powerful technique that most entrepreneurs underestimate. Entrepreneurs will write a question in the middle of the page. This challenges the brain and it triggers the creativity side. Entrepreneurs can branch out the questions with different ideas. When they start using mindmap, they only put limited information they need to recall. Gray-Grant believes the mistake many entrepreneurs make is write too much information on the mindmap. Mindmap is like finger prints; every mindmap is different.

Gray-Grant lists 7 major rules for mindmap.

  1. Write down everything
  2. Include stories
  3. Do not try too hard to be organized
  4. Keep writing, and do not stop
  5. Ask a question in the center of the page
  6. It is not necessary to finish the mindmap
  7. You might need more than one mindmap

Ideas on subconscious can be very powerful and only entrepreneurs themselves can control what to do. People listen to story more than facts because people remember stories. It does not matter ideas connect to the right ideas; instead, entrepreneurs should not feel constraint by using the space on the paper. Mindmap can also work with fiction and non-fiction. It helps entrepreneurs know how to begin their stories. For entrepreneurs, mindmap is like brainstorm with themselves. It looks for specific story and not fact. Mindmap helps entrepreneurs go different directions. When entrepreneurs feel the “Aha” moment, they should stop mindmap and start writing. Mindmap inspires entrepreneurs to write.

“Being specific as you can will capture more people and increase interest”

Contents come from many sources. Entrepreneurs need to ask the right questions. Gray-Grant suggests entrepreneurs to ask themselves this question: “How full is your bucket?”. Many entrepreneurs tend to forget to ask questions about feelings. Emotions can lead to interest. Therefore, entrepreneurs should have balance of facts and non-factual questions. Gray-Grant recommends entrepreneurs to paraphrase back to others. This mitigates errors and it makes others feel comfortable. The more comfortable they feel, the more information they can give.

Gray-Grant provides 5 elements on writing good quotes: interesting, brief, quirky, idiosyncratic, and expressed in a different voice. The reasons for paraphrasing are to eliminate boring material, to reduce jargon, to be more succinct, to deal with people they are obligated to interview, and to save quotes for the best of the best. Gray-Grant emphasizes entrepreneurs should not accept quotes by email because written words and spoken words can have different meaning.

It is important to budget time in writing. Entrepreneurs should use reverse engineering method on budgeting their writing time. Gray-Grant suggests the percentage of time spend should be 40% on preparing to write, 20% on writing, and 40% on re-writing and editing. Many entrepreneurs spend too much time on writing; instead, they should spend more time on preparing and editing.

People talk to themselves all the time. Moreover, people have doubts. Doubts come from within and it is up to individuals to overcome doubts. To deal with doubts, Gray-Grant gives 5 tips for entrepreneurs.

  • Do not ignore it
  • Watch the breathing
  • Know that it will pass
  • Do the work regardless
  • Celebrate all the achievements no matter how small

“The best flower is fertilized by crap”

Many entrepreneurs edit while they write. They tend to go back and edit the previous sentences. This slows down the writing process; instead, Gray-Grant recommends entrepreneurs to edit after the draft.

“Just write without editing”

Entrepreneurs can turn off the monitor because if they cannot see, they cannot edit. Entrepreneurs should consider using Pomodoro technique. This can help entrepreneurs concentrate on finishing one task at a time. They can use a noisy timer. Statically, distraction occupies 10% of the brain. Therefore, if the noise cover that 10%, entrepreneurs can concentrate on writing.

Entrepreneurs can use online applications, such as “writeordie.com” to force themselves to write. When they need to check for reference, they can post a note so they can check later instead of stop the writing process. Entrepreneurs can use dictation application to speed up the writing process as well.

The linear side of the brain can be bossy and the creativity side of the brain can be shy. Gray-Grant believes it is important to not give the creative side of the brain the excuse to leave.

“You can always fix crap, but you cannot fix a blank page”

“It is a first draft, not a bomb”

The best writers are best re-writers. Good writers are made and not born. Entrepreneurs need to spend more time on editing. Gray-Grant illustrates the Venn Diagram. When entrepreneurs edit, they must remember the message and what readers want to read. Entrepreneurs should be careful with jargon words. They need to think about the audience because clarity is the key. They need to tailor the message to the audience.

Entrepreneurs need to determine the readability level on their content. Readability level means how easy to read the content. There is a matrix to measure the readability level. Most newspaper is in grade 6 or 7. If it is easy to read, people will read. Gray-Grant wants entrepreneurs to remember that readability level is not about the content.

Entrepreneurs can use http://buff.ly/28UYT0h to measure the readability level. The key is to look at the average number of words per sentence. The ideal words should be 14-18 words per sentence. Entrepreneurs can also use Ernest Hemingway application for readability level. The key in this application is to identify passive voice. Ideally, Gray-Grant suggests entrepreneurs to aim for grade 7-9 on their content. It should never be higher than grade 10. The grade levels are arbitrary. The grade level is measured by word length, sentence length, paragraph length and the amount of passive voice. Long sentence is harder to write than short sentence. It is easier to make grammatical mistakes. It is hard to read  and it is hard to make interesting. Entrepreneurs can shorten the sentence by eliminating “and”, “which”, “that”, and the semicolon. They can also take words ending in “tion” back to root. Entrepreneurs can mix long sentence with short sentence to make the content interesting. Moreover, they can use bullets and lists as well.

Passive voice is not recommended for content because passive voice hides the actor of the sentence. Most readers are visual; passive voice can confuse readers because it is hard for them to visual the image.

In conventional writing, people learned paragraph is mandatory. However, Gray-Grant believes paragraphing is arbitrary. In fact, paragraphing is just easy to read.

Gray-Grant provides 10 tips to help entrepreneurs on proofing. Entrepreneurs should allow time to pass. Let it sit and come back later. They should proof on paper instead on the monitor because it is easier to spot mistakes on paper. The monitor light can make entrepreneurs’ eyes tired. This reduces their concentration on proofing. Entrepreneurs should use distinctive typeface and put the font in 20 points. They need to recheck the names and the dates because statistically, the most common errors in printed materials are names and dates. Sometimes the obvious can be a mistake. The bigger it is, the more likely people will miss it because of assumption. Entrepreneurs should use a ruler because it allows them to break the “scanning” habit. They can start proofing at the end. It forces them not to rely on the chronology of the story. Entrepreneurs should ask themselves what they may have omitted and have their own list of things to check. Lastly, entrepreneurs should read it out loud to catch hidden mistakes. Human speaks slower than reading. The slower it gets, the easier to catch errors.

Introvert Leadership

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Date: September 22, 2016

Name: Introvert Leadership

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Presenter: Kristen Rasmussen

There are many successful leaders who are introvert. Moreover, sometimes introverted leaders deliver better results than extroverted leaders. Chartered Professional Accounts of British Columbia invites Kristen Rasmussen, the Vice President of People and Culture Supporting the Consumer from Telus, to share her journey in the perspective of introvert leadership. In this presentation, leaders will learn ways to promote their teammates who are introvert. Kristen Rasmussen will share her insights and tactics to bring the best of out introverted leaders.

Kristen Rasmussen is the Vice President of People and Culture supporting the Consumer and Small Business Solutions and Finance organizations from Telus. In her 12 years in Telus, she was also the Director of Business Strategy Enablement. Before the involvement of Telus, she was the lead of a startup project called “Projux” and she was a senior consultant from Deloitte. Many introverted leaders are inspired by her authenticity from her presentation. She helped many young leaders to discover who they are and expand their leadership within.

When Kristen Rasmussen was a kid, she had a quiet personality. She could not able to express herself when she knew she was different than other people. Rasmussen loved running, but the running activity was contradicted with her personality. When she realized she was not alone, she started to open up and enjoy her personality.

“Knowing yourself is the beginning of all wisdom”

Rasmussen defines the word “introvert” comes from the combination of the Latin word “inward” and “to turn”. It describes as a person who is energized by spending time alone. Rasmussen emphasizes introvert is not equivalent to shy. In fact, it is where leaders can get their energy and where can they find their place.

Leader can be introvert without knowing it. Rasmussen provides a list that might signal leaders who are introvert.

  • Leaders who prefer one on one conversations to group activities
  • Leaders who prefer to express themselves by writing
  • Leaders who enjoy solitude
  • Leaders who care about wealth, fame, and status less than their peers
  • Leaders who dislike small talk, but enjoy in-depth topics that matter to them
  • Leaders who are good listeners
  • Leaders who are not big risk-takers
  • Leaders who enjoy work that allows them to dive in with few interruptions
  • Leaders who love to celebrate birthdays with small scale
  • Leaders who are soft spoken or mellow
  • Leaders who do their best work on their own
  • Leaders who tend to think before speak
  • Leaders who feel drained after being out and about
  • Leaders who let calls go through voicemail

There are some different themes between introverted and extroverted leaders. Introverted leaders are usually within smaller groups. They process internally and have deliberate approach to risk. They enjoy solitude and they energize when focused deeply. However, extroverts are friends and strangers alike. They process externally and are comfortable with conflict. They stimulate environments and focus multiple areas. Rasmussen believes it is important to know how to communicate with both introverts and extroverts.

Rasmussen explains the science behind introverts and extroverts is the processing time and the response to stimulation. Extroverts have faster processing and stimulation; however, introverts have slower processing because they have longer neuropath way. Their thoughts need to go through long term memory and planning before it processes by brain. Rasmussen believes introverts are happy with less stimulate information.

This society has a strong bias towards introverted and extroverted leaders. These beliefs are formed by socialization, experiences and different views. Rasmussen explains the experience creates conscious compliance. Leaders must be aware of how unconscious and conscious minds work.

There are some biases in this society about introverts.

  • Social media can be a great place for introverts.
  • Less patient to wait for introverts
  • Less engagement from introverts during conversation

Introverted leaders need their space. It takes time for introverted leaders to get the best of out of them.

“You see things. You keep quiet about them. And you understand”

Rasmussen emphasizes there is zero correlation between being the best talker and having the best ideas. The society has a movement from who people are, how they make up their characters, and honor their characteristics to people who believe the best talkers are the frontline of business. Introverted leaders need to step up and create the impact they deserve.

There are many strong introverted leaders, such as Bill Gates, Warren Buffett, Oprah Winfrey, and Steve Wozniak. Rasmussen believes introverted leaders have the characteristic of creating space for extroverts to perform and come forward. The ability to think deeply is one step towards success and introverted leaders have the attribute of creating expertise.

There are barriers, such as expectation and perfectly, that prevent introverted leaders to truly thrive. Rasmussen suggests leaders to review their current structure. Leaders need to provide education that allows for different type of output and provide agenda in advance during meeting.

Rasmussen recommends introverted leaders to take time to know themselves and recognize their value. Introverted leaders need to focus on the right ROI, manage their schedule and push their comfort zone. Introverted leaders can make pre-plan to control their environment or partner with extroverted leaders to become aware of systems around them. They need to understand how others see them and think holistically. Rasmussen also recommends leaders to read “The Manifesto for Introverts” from Susan Cain.

The first step for introverted leaders is to start with a conversation.

“Our ability to reach unity in diversity will be the beauty and the best of our civilization”

Using Clients’ Tax Returns as a Roadmap to Tax & Financial Planning

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Date: October 17, 2015

Name: Using Clients’ Tax Returns as a Roadmap to Tax & Financial Planning

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Presenter: Don Nilson

Tax returns can be a useful tool for leaders to gain high level insight of their clients’ financial and wealth management position. Moreover, leaders can add values to their clients based on the analysis from their tax returns. Chartered Professional Accountants of British Columbia invites Don Nilson, the Principal of Nilson & Company and AFT TRIVEST Management Inc, to discuss his insight of using tax returns to manage high level financial strategies for clients. This presentation will teach leaders the method of systematize financial planning into tax preparation. In addition, leaders will develop strong approach to integrate financial strategies in the details of annual tax returns. Leaders in financial planning services and accounting will benefit from this presentation. This presentation will focus on Canadian Taxation.

Don Nilson is the Principal of Nilson & Company for over 30 years. After achieving both the Certified Management Account and Certified Financial Planning designations, he became the Registered Portfolio Manager. Nilson spends many years lecturing in accounting topics in many major academic institutions, such as University of British Columbia, and CGA, and the Society of Management Accountants. In addition, he delivers many webinars and seminars across Canada and United States. Nilson serves on National Boards and involves with local communities. Furthermore, he receives many career achievement recognitions based on his contributions to leadership, teaching, and volunteerism.

Don Nilson defines Return on Investment as the number of insight over time. Nilson believes leaders must focus on “Fission”, “Fusion”, and “Fishin”. Fission means the act of process of splitting into parts. Fusion means the process of combining two or more things into one, and Fishin means the process undertaken with the hope of discovering information. By focusing on behavior knowledge, patience, experimentation, observatory power, and procedures, leaders will be able to raise their standards.

Nilson emphasizes leaders must understand who is in charge of client’s well-being and who the role they play in. Most leaders can categorize as value-added or a commodity. Nilson describes knowledge and skills as iron bar, which means it will only worth what leaders do with them.

“The way leaders create with knowledge will raise their value and worth”

In tax return process, it can lead to compliance and planning. Leaders must understand the planning part is place for them to create value for their clients. However, Nilson shows there is another value added area most leaders forgot, yet leaders can add value in advance from tax. Leaders must think forward and help their clients to see their status in next 15 years. Based on statistic, a majority of people of their income level stay the same. People need to think forward and leaders have the obligation to do help them.

Nilson creates a term called “Family Confab”, which means inspiring a healthy and successful approach to the custodian ship of money across family generation by having all family members actively engaged in that process. Leaders must understand that due to multiple generations, the traditional wealth management needs to change. He believes wealth can be impacted by 6 dimensions, which are financial, human, family, structural, spiritual, and societal. Leaders need to understand both concepts of giving and receiving. Many people learn money from school, observation, and self-determination. Based on genome mapping, leaders learn their financials from their family background. Therefore, leaders must start with observation and change their mapping structures.

“Got to move before time to move”

Nilson develops a system to produce diagnostics for tax compliance, tax planning and financial planning. The system will flag over 92 different strategies and tactics to help clients add value to their wealth management.

Information Page

Birthdate can lead to different pension implications. It signals leaders to ensure if there are enough assets to set aside to retirement. Nilson suggests leaders to build a retirement cash flow proforma to help their clients understand their retirement cash flow.

Other implications can be Old Age Security, Canadian Pension Plan, and the convert of Registered Retirement Saving Plan to Registered Retirement Income Fund. Leaders must ensure they are applying the new regulations to maximize the benefit. The conversion can signal leaders to many different options, such as elect younger spouse’s age and change cash flow production. Leaders can use this opportunity to revisit the designated beneficiary elections and other investment strategies.

Address can help leaders to determine the right tax and financial implications. Leaders can change approach by based on either the property is owned or rent. If there is an address change, leaders can help clients to determine if they are eligible for first time home buyers credits.

Married status can change the tax and estate planning implications. When there is foreign property verification, leaders can help clients to see if they are required to pay other countries taxes. Even though Tax Free Saving Accounts is tax exempt, but other countries are not. Leaders must be aware of these changes.

Death date can signal leaders to revisit the will. Leaders can revisit designated beneficiary elections and other life insurance policies. Nilson recommends leaders to draft a 5 year comparison to check for sources, fluctuations, risk exposures and other qualifications.

Total Income

T4 employment can also flag many strategies. Leaders can determine if clients are entrepreneurs. This will change the management of capital gain deduction and any other significant retirement asset building requirements. Preferred redemption management should be visit and death benefit payout policy should revisit.

The slips can indicate if the amount of OAS, CPP and other EI are correct. If clients are over 65, leaders must ensure they have enough cash flow and determine paying in or paying out strategies. Leaders can help clients to research if they have company benefit plan or other foreign pensions. Based on the policies, leaders need to determine if clients have the eligibility for pension splitting. If clients are withdrawing pensions, leaders need to determine if clients have cash problems. Leaders must help clients to prepare tax management.

If there is a maternity leave, Leaders can help client to start Registered Educational Savings Plan. When clients are withdrawing RRSP, leaders must understand if that is an opportunity or contribution trap.

Limited partnership income can have some pregnant tax shelter issues. Dividends and interests can provide insight to risk profiles. If there is investment income or T5 slips, leaders can use these insight to do financial investment strategies. Foreign income needs to file Foreign Income Verification. The form can help leaders to verify if clients are exposed to US Estate Tax. Different investment strategies can be varied based on different kind of rental or self-employment income.

Net & Taxable Income

Leaders must watch out for pension deductions. They should also watch out for reasonable risks from claiming deductible investment interests. Support payments should have appropriate tax treatment and resource claims should be using tax shelters.

In schedule 1, leaders must clarify the rules of tax breaks for donations. Disability amount transfers can be used as a strategy. The notice of assessment will show the carry forwards, carry losses, and RRSP contribution room. This will help leaders to create future tax management. Leaders can verify if clients are applying all the necessary benefit. Nilson suggest leaders to do couple comparative to check for marginal tax brackets, unused credits, and craw back. Solutions such as income split or portfolio management are used appropriately to maximize clients’ wealth. Leaders are client’s GPS and it is important for leaders to take up the responsibility.

CPABC – The art of successful networking

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Date: September 12, 2015

Name: CPABC – The art of successful networking

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Presenter: Sue Clement

Networking is an important skill for leaders to improve their connections in their industries. However, many of leaders are reluctant to network and they are costing them many potential opportunities. The Chartered Professional Accountants of British Columbia (CPABC) Richmond Chapter invites Sue Clement, the Founder of Success Coaching, to discuss how powerful networking can bring to professional. Sue Clement will share her strategies to help leaders to overcome the fear of networking and utilize networking skill to gain advantage in leader’s career and market.

Sue Clement is the Founder of Success Coaching. Clement has the passion to help small business owners to overcome marketing and sale limits. For over 12 years, Clement provides many webinars and workshops to improve business owners’ success and profitability. Clement also published a book called “Insider Secrets to Referral Success” to help business owners to leverage their connections in the business world. Moreover, Clement is a professional speaker who inspires innovative solutions to business problems.

Sue Clement believes networking is a way to make winning connections. Networking skill is important because successful leaders will network all the time. Clement shares she felt it was uncomfortable at first when she started to network for her business. She forced to network and she hated it. She hated the fact many people only talk about themselves. When she began to realize the power of networking can bring meaningful connections, she started to enjoy the process. Later, she became a business coach to teach professionals how to turn conversations into connections and profits. As of now, 80% of her business, resources and connections come from networking.

“Training without application is entertainment”

Sue Clement creates the CASH system to help leaders to network. CASH is the abbreviation for “Connect”, “Ask”, “Skills”, and “Help”.

Connect

Clement wants leaders to make meaningful connections. Leaders must treat networking as life skill in social place. Furthermore, networking is not equivalent to sale pitch.

Good networking comes from good listening. Leaders must always ask good quality questions and show interests. It is important to make leaders feel important. When leaders listen, they will connect. Clement recommends leaders to seek to impress people they meet. By discovering what impress about other people, leaders will able to share conversation.

Ask

Clement believes it is important to leverage networking time. Clement indicates the word “ask” is to present a call of action that might solve other people’s problem with their current expertise. Leaders need to remember to ask for introduction and connections. This will open up opportunity to meet other people’s needs.

The difference between ask and sale is the target audience. Clement emphasizes sale is target on individual and ask is target board and global. Leaders must ask without expectation because the people they meet may know someone in their connections who might meet the ask. Ask is important because it will lead to meaningful connection. Ask will help leader to connect with people who are behind other people’s connections.

Clement encourages leaders to ask because other people might be waiting for leader’s expertise to solve their business problems.

“If you do not ask, you do not get; we do not know who knows who”

Skills

Clement believes leaders must master the conversation skills. One of the conversation skills all leaders must master is to have the host mentality. This means leaders should act like a host, be early and stay late in the networking events. Leaders should make more than one impress on their network to help others remember them.

Clement suggests leaders to mingle by the door or coffee station because that is the area where people appear. Attitude is everything, so leaders should always smile. Most leaders make the mistake to sit down during the networking events. Clement wants leaders to mingle and stay standing as much as possible. Leaders can try to bring other people into the conversations.

Clement provides 3 strategies to help leaders to exit conversation. The first strategy is ask them to walk with the leader to get coffee. While leaders are getting the coffee, they can introduce them to other people. The second strategy is to shake hands and walk away. The third strategy is to let other people know they are taking too much of their networking time and ask permission to connect with them later in the future.

Clement indicates when leaders realize other people are not engaging the conversation within 28 seconds, they should walk away and move on to other conversation.

Leaders must have a compelling networking introduction. Clement recommends leaders not to say what they do and the current position job title. Instead, leaders should introduce themselves by stating the problems and solutions they provide. This is an ability to have more conversation with others, and it will create deep relationship.

Leaders should follow the 4 steps in the conversation.

  1. State the summary statement
  2. Tell the story that has problem, what they did, and the outcome
  3. Do an ask
  4. Close with tagline

Networking does not just happen at the event, leaders must work for it. Connections in network give leaders more than money itself. Leaders should treat business cards as gold and respect. Leaders can write comments on the card to remind them their common interests. Business cards is a connection point and leaders must do follow up. Meaningful followup will create meaningful relationship and connections.

“The fortune is in the follow up”

Help

Networking is a two way street. Leaders can get help from others and give help to others. Clement believes leaders should stop hunting for prospect and start seeking for collaborative partners. By leveraging the connections, leaders can grow their network. When their network grows, their net worth will begin to increase.

“If you want to go fast, go alone. But if you want to go far, go with others”

Leaders should look for these 3 types of people in the networking events.

  • Clients
  • Reciprocal
  • Ambassador

Clement shares her Referral Success Formula

Know Be known in the market
Like Become likeable
Trust Become Trustable
Opportunity Connect with right people
Mindset Have the mentality to give connections
Understand they need to know how to help others

Leaders should find the “go-to” person and be the “go-to” person. This will increase their creditability in networking circle.

Lessons in Leadership

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Date: August 12, 2015

Name: Lessons in Leadership

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Presenters: Arnold Singh, Victor Wong, and Amanda Collinge

Career paths from successful accounting professionals can be different in different industry. Moreover, they are distinguished by their unique leadership qualities. Leaders of Tomorrow, one of the signature programs from Vancouver Board of Trade, invites 3 successful designated accountants to share their perspective of leadership qualities in their career paths. Leaders will learn many of their great lessons takeaway from their leadership journeys. Moreover, they will learn the benefit and impact from having the Certified Professional Accountant designation for their careers.

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Lessons from Arnold Singh

Arnold Singh is one of the partners in KPMG firm. Singh started his career in KPMG after the graduation from Simon Fraser University. His original path was to move on to different industry after he received his CA designation from the Institute of Chartered Accountant of British Columbia. However, his experience in the firm created his passion, which leaded to his path to become the partner of KPMG.

Singh mentions accounting is not boring, but exciting. Many accountants in KPMG involve with charity events to help out with the community services. In fact, it is more than just debits and credits.

Singh shares a statistic that by 2028, 75% of workforce will be millennials. They tend to move from one organization to another. They pursue their career paths and explore different career options. Moreover, flexibility is one of the main fundamental traits for millennials. CPA designation meets the needs of the changing workforce.

“CPA is open based on your imagination”

Singh shares 6 leadership lessons from his career experience.

  1. Check the ego
  2. Take the hit for the team
  3. Prove that it is important to genuinely think of others by the actions
  4. Know when to dial it back
  5. Be honest and admit when mistakes are made
  6. Do not be afraid to deliver the tough messages

Singh believes it is easy to train someone with talent, but it is difficult to train someone the right attitude. Trust always connect with leadership and actions speak louder than words. Singh wants leaders to remember that not everyone share the same goals and it is important to know when to step back. In addition, tough messages can lead to royal relationship.

“It is not about how many follower you have, but how many leaders you create”

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Lessons from Victor Wong

Victor Wong is one of the senior Associate from MNP. After the graduation from Simon Fraser University, he began to pursue Certified Management Accountant and Chartered Business Valuator designations. Wong has the passion to be involve with community services, such as CPA Vancouver Chapter, SFU mentor-in-business program, and junior achievements.

Wong provides business valuation services for business enterprises. He focuses on transition, litigation support and fair value accounting support. In leadership, Wong believes CPA designation can provide four major qualities: employability, stability, transferability and growth opportunity.

Wong was originally a Financial Banker, but in his career, he realized the benefit of accounting can impact more people he can help. He decided to expand his career in the field of accounting. Wong realizes everybody needs an accountant. The skill can be move or transfer to different industries. Moreover, CPA designation opens many doors and give leaders the right foundation.

Wong emphasizes CPA has expanded his career even further than he can imagine. CPA has helped him develop the right knowledge of hard skill and soft skills. The recognition and networking opportunities help him explore new advancement in different specialist fields. CPA gives him the confidence and platform to pursue his career.

CPA can be competitive. Wong believes it is difficult to find the right interest within the accounting because there are many options CPA can provide. CPA creates connection to other career paths because CPA provides the right fundamental skill set for successful leaders.

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Lessons from Amanda Collinge

Amanda Collinge is one of the project manager at Raymond James Ltd. Collinge has an unconventional career path. She is a broadcaster, accountant, consultant, project manager and financial educator. Her experiences from different job roles makes her unique and standout. Moreover, her skill sets can interchange from one industry to another, which makes her valuable in any industry.

Collinge mentions she choose to pursue CPA is because of variety of career path opportunities CPA can provide for her. CPA gives her the flexibility of working while learning and applying knowledge. The ethics and standards from CPA have shaped her the type of leader that people can trust.

Collinge believes the only way to move up is to move to another company. It is important to seek someone in the industry that can bring other people up the ladder. Collinge wants leaders to know that leverage the skill set by seeing a need and addressing is important in any industry.

“Be the leader you want to have”

There are many advantages from changing companies in the career. Leaders can mitigate the issue of the seniority and office politics. There are more possibilities open up in the market than internally in one company. In addition, it is an opportunity to take the lessons learned and strengths from previous companies and leverage it at another firm.

Collinge believes leaders should not leave the company when there is a right mentor at the workplace. The corporate culture fit can be the main factor as well. Also, the succession plan in place can fulfil leaders’ personal goals.

“Culture fit is game changer”

Leaders need to discover who can bring them up in the company. By establishing the mentor relationship, leaders can learn from them and seek new opportunities in the company. Collinge indicates by leveraging the skills, leaders can solve problem, create efficiency, streamline process, add value to clients and impact the community in a positive way.

Leaders to know who they look up to and who they work well with. Leaders can discover other people’s management and communication styles. They can develop strengths and warmth to enhance their skill sets. Furthermore, they can also emulate leadership qualities that they inspire.

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The panel

Singh believes leaders need to have a mentor who can look at their perspective and not just the company. Wong believes leaders need to have the right depiction to focus on what they love. Collinge believes leaders need to have the guts to take risk with the career.

Aside from accounting, Collinge wants to be involved in the dance industry. Wong wants to be an entrepreneur and Singh wants to be a professional golfer.

Singh admires leaders who have the skill to interact with staff members. Wong admires leaders who can take the bullet for the team, and Collinge admire leaders who have the balance of strength and warmth.

The panel believes community involvement is something every leader needs to have. By giving time to help the community, leaders will learn the value of helping the less fortune.

The panel has insight of the affect from mentorship. Wong believes successful mentors will elevate the mentee to the next level of success. Singh believes successful mentors can strive with mentee with their personal agenda in a two way communication. Lastly, Collinge believes mentee needs to have that ability to absorb the guidance from mentors and execute the right actions.

United CPA – Why it is good for business

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Date: June 24, 2015

Name: United CPA – Why it is good for business

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IMG_4241IMG_4245Presenters: Richard Rees, The Honourable Andrew Wilkinson, Lori Mathison, and Mary Anne Davidson

This is the moment for all accounting professionals to celebrate the success of uniting all accounting designations in British Columbia into one. Vancouver Board of Trade invites the panelists to discuss the impact of the proclamation of this proclamation. The panelist includes Richard Rees, the President and CEO of CPABC, the Honourable Andrew Wilkinson, the Minister of Advanced Education, Lori Mathison, the Vancouver Managing Partner from Dentons Canada LLP, and Mary Anne Davidson, the Director of Vancouver Board of Trade. All industry experts will discuss their view of how this new entity will impact the business in British Columbia.

Richard Rees announces the unification of all designations (CMA, CGA, and CA) will bring forward positive impacts. The process started 15 years ago. With over many failures, Rees believes this unification will improve the current vision of CPABC, the patent and how CPABC compromises with the society.

CPA is one of the largest bodies in the education industry. The education has enough flexibility to meet everyone’s needs. The bylaws and regulation have harmonized across the world. CPA provides great mobility to international market. Rees mentions CPA regulates with highest standard to ensure they are fulfill the confidence in public trust. Rees indicates CPA unification will serve better to the public. Moreover, CPA creates Financial Literacy program to provide financial education for children and adult, including person with disability. Rees believes CPA has established the privilege to serve the long term and open up many opportunity for the community.

“Trust the vision, service the public”

The Honourable Andrew Wilkinson believes CPA is the home mark of the company. It provides reliable financials to all companies. CPA has provided enough transparency and creditability to gain the trust of the community. Wilkinson presents the appreciation for the act of unification of 3 designations.

To ensure financial are protected, CPA members are required to raise standard from their learning process. The usage of CPA will represents the solid foundation to the society. Wilkinson  reports based on BC job plan, Auditor ranks the top 4 in career choice for new generation. Wilkinson encourages accountants to involve with community board by giving back the skills to support the community.

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The panelists

The unification can impact many businesses. Davidson believes in employers’ perceptive, the unification allows them to look at CPA for the external qualification. CPA provides employee’s professional development which can bring clarity back to the organization. Mathison believes the unification can bring simplicity. This allows the public to cut the noise and focus on what CPA really believes in. This also shows specialization to the society.

Rees believes there will be more international recognitions. It allows CPA members to build and develop on their international markets. Wilkinson indicates CPA provides the accuracy of liquidation on transaction, internal control and transparency. The agreement of unification shows the ability to maintain integrity towards the public.

Mathison understands CPA provides the standard recognition. It gives people the common language for easy communication. It will mitigates the international barriers as well. Moreover, it is easier for other countries to share and follow.

In corporate perspective, Davidson believes internal and external audits are the main concern. CPA will enhance the standard to provide greater insurance for corporates.

Wilkinson mentions the process of unification is now the legislation across Canada. People seems to understand the importance of CPA, which encourages many buy in during the process.

Rees believes one of the main key elements is to improve the quality exam and continue the strong ethic. Mathison believes the mobility of CPA can help public interest. Davidson identities the main challenge is that the current CPA members might have the impression that it is necessary to start over the investment of their professional education. Rees will ensure CPA will have a strong framework to mitigate this issue. Mathison believes CPA will help people understand the financial perspective.

Rees ensures CPA has the responsibility to public an economy. Orientation will be provided to new members. The CPA has 3 important elements to the public.

  1. Technical Skill
  2. People Skill
  3. Geographic management skill

Rees suggests accountants to be involved with volunteer boards. This will help CPA to be more connected with the community. By sharing the framework, CRA are relying on CPA. The unification will improve the communication with the public.

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