Practice Tiers

As part of the new National Standards for Public Practitioners, approved by the Board in September 2007, all BC Society members currently registered as public practitioners (having an ownership interest in a CMA public accounting practice as defined under Bylaw 1.01) are being licensed into a Tier Level based on the practice mix information identified in their practice's most recent practice review.

The Tiers are as follows:

• Tier 0 - Other (Forensic Accounting)
• Tier 1 - Compilations
• Tier 2 - Review of Non-public entities
• Tier 3 - Audit of Non-public entities
• Tier 4 - Review and Audit of Public entities

A letter to each registered practitioner, advising them of the Tier they have been licensed to was sent out by certified mail (Xpress Post) on Friday, January 18, 2008.

Each practitioner now has 120 days to submit a written appeal if they wish to challenge the Tier level which they were assigned in the letter.

As of the date of this letter, each practitioner also now has a 3 year transitional period to allow for any adjustment to the make-up of their practice to insure that the practice will meet the ongoing hours of verifiable public practice experience (Section IV Continuing Compliance 11-13 of the New Public Accounting Policy http://www.cmabc.com/pdf/PublicPractice/NEW_PUBLIC_ACCOUNTING_POLICY.pdf required to sustain their license at the assigned Tier level.

Interim CMA Public Accounting Education Requirement (alternative syllabus - seminars)

CMA Alberta has taken the National Standards out of their public practitioners requirements due to long delays in establishing the CMA Ontario courses offered at the University of Waterloo. CMAAB is using a series of Institute of Chartered Accountant's seminars (11) as their education (seminar) component for licensing.

On January 11, 2008, the CMABC Practice Licensing Committee met and agreed that in the interim CMABC should move to the CMAA model in order to accommodate the growing list of CMA’s seeking Public Accounting Licenses since the May 2007 moratorium on public practice registrations.

Until the CMA Ontario courses become available online, CMABC Certified members seeking a Public Accounting License may take the following seminars offered by the Institute of Chartered Accountants of BC: (current offerings of these seminars are listed below. Information on future offerings of these seminars can be obtained on the ICABC website at http://www.icabc-pd.com/pd-seminars.php

Personal Tax Planning and Advice:

• Income Tax Refresher (Personal)
  http://www.icabc-pd.com/pd-seminars-seminar.php?id=743
  2 Day Course
  January 25, 2008 9:00am – January 26, 2008 5:00pm
  Ocean Pointe Resort , Victoria, BC
  February 8, 2008 9:00am – February 9, 2008 5:00pm
  Sutton Place Hotel, Vancouver, BC
  Cost: $650.00

Compilation/Corporate Tax

• Income Tax Refresher (Corporate)
  http://www.icabc-pd.com/pd-seminars-seminar.php?id=661
  2 Day Course
  February 15, 2008 9:00am – February 16, 2008 5:00pm
  Sutton Place Hotel, Vancouver, BC
  Cost: $650.00
• Compilation Engagements
  http://www.icabc-pd.com/pd-seminars-seminar.php?id=692
  ½ Day Course
  February 7, 2008 9:00am – 12:30pm
  Sutton Place Hotel – Vancouver, BC
  Cost: $195.00
• Financial Statement Presentation & Disclosure
  http://www.icabc-pd.com/pd-seminars-seminar.php?id=442
  1 Day Course
  February 12, 2008 9:00am – 5:00pm
  Sutton Place Hotel, Vancouver, BC
  Cost: $350.00

Review Engagements

• Review Engagements
  http://www.icabc-pd.com/pd-seminars-seminar.php?id=699
  1 Day Course
  February 13, 2007 9:00am – 5:00pm
  Sutton Place Hotel, Vancouver, BC
  Cost: $350.00
• CICA Handbook Accounting Refresher
  http://www.icabc-pd.com/pd-seminars-seminar.php?id=439
  2 Day Course
  March 7, 2008 9:00am – March 8, 2008 5:00pm
  Sutton Place Hotel, Vancouver, BC
  Cost: $650.00

Audit Engagements

• Accounting, Auditing and Professional Practice Update
  http://www.icabc-pd.com/pd-seminars-seminar.php?id=685
  1 Day Course
  February 8, 2008 9:00am – 5:00pm
  Sutton Place Hotel, Vancouver, BC
  Cost: $350.00
• Audit of Simple (Small & Medium) Entities
  http://www.icabc-pd.com/pd-seminars-seminar.php?id=682
  1 Day Course
  February 5, 2008 9:00am – 5:00pm
  Sutton Place Hotel, Vancouver, BC
  Cost: $350.00

All seminars listed above must be completed within 2 years of application to become a licensed Public Practitioner

Once the Society (University of Waterloo) courses come on line, members registered under the alternative syllabus (above) will be allowed to complete the seminars in the group (eg. Personal Tax Planning & Advice, Compilation/Corporate Tax, Review Engagements or Audit Engagements) they have begun. Once the seminars in that group are completed, members will be required to finish the remainder of their studies under the Society (University of Waterloo) course syllabus.

5 Keys to Client Satisfaction

Satisfied clients increase the bottom line. They not only bring repeat business but also generate new business through word-of-mouth advertising. Fully satisfied clients are more immune to competitive actions and generate a stable business environment. Given these facts, here are 5 keys to client satisfaction:

1. Reliabilty - the ability to perform the promised service dependably, accurately and on a timely basis
2. Assurance - the knowledge and courtesy of partners and staff and their ability to convey trust and confidence
3. Tangibles - appearance of physical facilities, equipment, personnel, and communication materials (eg. email, letterhead etc.)
4. Empathy - caring, individualized attention
5. Responsiveness - willingness to help clients and provide prompt service

From "CRM Key to Delivering Customer Satisfaction", Eric Rutten, Momentum Magazine

Is Your Staff Motivated?

Staff motivation is an important driver of firm productivity, therefore, motivation is a highly relevant topic for an accounting practice. Understanding the dynamics of motivation at the staff level is critical. Motivation is defined as "those factors which cause an individual to behave in a manner that will assist them to achieve a particular desired goal". Motivation is "the tool by which we move individuals out of their comfort zones...it's the secret weapon for achieving firm goals". Here are some tips to increase staff motivation in your firm:

• Always try to understand what you are asking your staff member to give up or change. For instance, if you are asking them to acquire a new skill in order for them to move up in the firm, you are asking them to give up time that would be spent on other activities. If the staff member feels that they are already at full capacity with their client load, the prospect of more responsibility will not be motivating, but rather demotivating. Be careful of competing motivations.


• Be very clear about the goals that you want to achieve. It is wise to break longer-term or complex goals down into short-term or simple segments that are more easily understood and are more readily attainable. Goals that are too complex or too far in the future can be demotivating and discouraging. In order for you to manage the outcome (and this is what you want to do), the outcome must be very well defined and seen as attainable.


• Make sure that you provide sufficient support for the change that you are trying to motivate. If staff believe that the partner supports the change and that there are sufficient resources available for them to make the change, they will be more motivated to change.


• Collaboration with the affected staff members will generally increase motivation. Staff members who feel they have had some input in the planning of the desired change will be more motivated to carry it out.


• Reinforce, on a timely basis, incremental movement towards the goal you wish the staff member to achieve. Recognition of incremental goals met will keep motivation at a high level.

From "Think Through Ways to Motivate Staff" by Mort Shapiro, FCA, CMC, The Bottom Line December 2007 issue