THE STIC PROGRAM
Sector-specific orientation, Terminology training, Information and Counselling
FACILITATOR’S GUIDE TO THE
OVERVIEW & ORIENTATION
WORKSHOP FOR
ACCOUNTANTS
TABLE OF CONTENTS
FACILITATOR’S INTRODUCTION...................................................................... 2
PARTICIPANT PROFILE............................................................................................................. 2
METHODOLOGY ........................................................................................................................ 2
STRUCTURE............................................................................................................................... 3
PREPARATION ........................................................................................................................... 3
BUILDING YOUR RESOURCE PACKAGES .............................................................................. 4
GUEST SPEAKERS .................................................................................................................... 7
INTRODUCTION .................................................................................................. 8
INTRODUCTION INTERVIEWS.................................................................................................. 8
EXPLANATION -- WORKSHOP PURPOSE & OVERVIEW ..................................................... 10
HOW MUCH DO YOU KNOW? (QUIZ)..................................................................................... 13
SECTION ONE: THE LABOUR MARKET ......................................................... 16
GENERAL OVERVIEW ............................................................................................................. 16
ACCOUNTING IN CANADA ...................................................................................................... 21
RESEARCH SKILLS.................................................................................................................. 27
SKILLS IN DEMAND ................................................................................................................. 28
“EMPLOYABILITY SKILLS”....................................................................................................... 29
THE LEGISLATIVE FRAMEWORK................................................................... 33
SECTION THREE: ............................................................................................. 41
INTRODUCTION ....................................................................................................................... 42
TERMINOLOGY ........................................................................................................................ 43
SELF-ASSESSMENT ................................................................................................................ 46
PROFESSIONAL REGISTRATION:.......................................................................................... 47
THE WORKPLACE............................................................................................ 49
HIRING PROCEDURES AND WORKPLACE EXPECTATIONS .............................................. 50
TECHNOLOGY.......................................................................................................................... 51
SELF-EMPLOYMENT ............................................................................................................... 52
NETWORKING................................................................................................... 54
RELATED OCCUPATIONS ............................................................................... 56
WRAP-UP .......................................................................................................... 58
WHO DOES WHAT? .................................................................................................................58
GOAL SETTING & EVALUATION............................................................................................. 60
STIC: Overview & Orientation to the Accounting Sector
1
FACILITATOR’S INTRODUCTION
PARTICIPANT PROFILE
This Overview and Orientation Workshop has been designed specifically for
immigrants with international training, qualifications and experience in
Professional accounting. Additional information is provided on the occupations of.
If you intend to accept members of other occupations into the workshop, be
aware that you may have to conduct further research and adapt the curriculum to
meet your needs.
Participants will benefit most from this program if they also meet one or more of
the following criteria:
newcomers to Canada or
have lived in Canada for some time, but have not been able to gain
access to employment in their field or
lack awareness of the systems, supports, and resources available, or
are seeking entry into their field.
METHODOLOGY
This workshop has been developed so that it is:
interactive
accommodates the different learning styles
demonstrates principles of adult education methodology.
Strategies used in the workshop include short lectures, individual activities, pair
work and group activities.
Sources of information for the content of this curriculum include:
The Department of Human Resources and Skills Development (formerly
Human Resources Development Canada (Job Futures)
Ontario Government (Ontario Futures)
Industry Canada
Where the Jobs Are, by Colin Campbell
The STEPS to Employment Program, Citizenship and Immigration
Canada www.stepstoemployment.net
Material from the Institute of Chartered Accountants of Ontario, Certified
Management Accountants of Ontario, and the Certified General
Accountants Association of Ontario.
STIC: Overview & Orientation to the Accounting Sector
2
STRUCTURE
The Overview and Orientation Workshop is intended to be delivered over 30-35
hours, including time for discussion and breaks. It has been divided into six
sections, with an introduction and wrap-up.
The sections do not necessarily need to be delivered in the order
presented; the activities within each section, however, should be delivered in
order. In other words, you may choose to deal with Licensing before the Labour
Market, but the activities within the Licensing Section should be delivered in
order.
It is recommended that facilitators begin each day with an open discussion of
the labour market for members of the profession or trade you are working with.
You might ask:
Was there anything in the news yesterday or this morning related to your
profession/trade?
Was there anything in the business sections of the newspapers about major
employers in your field?
Any job ads?
Has anyone heard anything about job fairs or conventions coming up related
to the field?
Discussion of this nature conveys to participants the importance of staying
abreast of the field, of sharing information and of being aware of the trends in the
industries that affect their job search.
PREPARATION
In order to deliver the Overview & Orientation Workshop for Accountants,
you need:
The Facilitator’s Guide (this document), including the lecture notes,
overheads, handouts and answer keys that are included with this guide
The Participant’s Workbook – which includes all activities. (One for each
participant.
Resource Packages (see Building Your Resource Packages, pages 5-7)
At least one Guest Speaker (see Guest Speakers, page 8)
STIC: Overview & Orientation to the Accounting Sector
3
BUILDING YOUR RESOURCE PACKAGES
The success of this program relies on relevant, up-to-date Resource Packages
for each participant. The following detailed bibliography will help you develop
these packages.
Each resource package must contain:
Articles and other documents providing labour market information on
accounting and related industries and occupations. This will entail visits to a
library or employment resource centre as well as Internet access.
Sample job advertisements for different accounting occupations.
A copy of the Public Accounting Act. Order the Public Accounting Act from
Publications Ontario (416) 326-5300 or 1-800-668-9938. You can also obtain it
through the Internet at
www.e-laws.gov.on.ca/DBLaws/Statutes/English/90p37_e.htm
Licensing/certification information (requirements and process) from the
occupational regulatory bodies.
Articles relating to advances in technology in accounting.
Details on how to gather these materials follow.
STIC: Overview & Orientation to the Accounting Sector
4
OCCUPATION-SPECIFIC RESOURCE PACKAGES:
Suggested Contents
1. Labour Market Information
Future Focus Occupational Trends in the Greater Toronto Area 2001.
Published by HRSD.
The Occupational Quarterly – published by HRSD
Job Futures Canada http://www.jobfutures.ca/
Ontario Job Futures http://www.ontariojobfutures.net
Conference Board of Canada http://www.conferenceboard.ca/
Statistics Canada http://www.statcan.ca/start.html
Canada Prospects http://canadaprospects.com/
Labour Market Information http://lmi-imt.hrdc-drhc.gc.ca/
CMA Magazine
CA Magazine
CGA Magazine
Business magazines e.g. Canadian Business, Report on Business.
Job Advertisements
The Globe and Mail
Use the Internet to look up major employers such as Price-WaterhouseCoopers, Ernst & Young.
HRSD job bank www.jobbank.gc.ca/
Public Service Commission of Canada, Jobs open to the public
http://jobs.gc.ca/menu/alljobs_e.htm
Canada WorkInfoNet www.workinfonet.com
Workopolis www.workopolis.com
Monster Board www.monster.ca
Yahoo Hot Jobs www.hotjobs.ca
Job Bus www.jobbus.com/
All star jobs www.allstarjobs.ca/jobs/
Job Search www.jobsearch.ca/
Employment News www.employmentnews.com/
Canada Job http://www.canadajob.com/
Canadian Employment Search Network www.canjobs.com/
Career Builder www.careerbuilder.com/
CareerMag www.careermag.com/
New Canadian Program www.newcanadians.org/
Net Jobs http://www.netjobs.com/
Career Bookmarks Toronto Public Library
http://careerbookmarks.tpl.toronto.on.ca/
STIC: Overview & Orientation to the Accounting Sector
5
Directories
Business Directory and Company Profiles http://www.bellzinc.ca/
Canadian Trade Index http://www.ctidirectory.com/
List of Professional Associations http://www.cicic.ca/
Community Information Centre of Toronto http://www.211toronto.ca/
The Blue Book of Canadian Business http://www.cbr.ca/
Canadian Ontario Business Centre www.cbsc.org/ontario
Canadian National Business Directory www.canbd.com
The Toronto Board of Trade www.bot.com
Fraser’s CanadianTrade Directory www.frasers.com
Thomas Register www.thomasregister.com
Scott’s Directories
http://www.scottsinfo.com/
E-Mentoring for foreign trained professionals
http://www.canadainfonet.org/about%20us/default.asp?s=1
2. Acts and Regulations
Order the Public Accounting Act from Publications Ontario
(416) 326-5300 or 1-800-668-9938. You can also obtain it through the Internet at
www.e-laws.gov.on.ca/DBLaws/Statutes/English/90p37_e.htm
3. Licensing/Certification Packages
Request copies of the Occupational Fact Sheet for Internationally trained
Accountants from:
Institute of Chartered Accountants of Ontario
(416) 962-1841 or 1-800-387-0735 / (416) 962-8900 (Fax)
http://www.icao.on.ca
Request certification requirements and process from:
Certified Management Accountants of Ontario
(416) 977-7741
www.CMA-Ontario.org
Certified General Accountants Association of Ontario
(416) 322-6520 or 1-800-668-1454 / (416) 322-6481 (Fax)
http://www.cga-ontario.org
4. Technology - Relevant articles from:
CMA Magazine
CA Magazine
CGA Magazine
Business magazines such as Canadian Business, Report on Business.
Job advertisements are also good sources of information about types of
technology used in the profession.
STIC: Overview & Orientation to the Accounting Sector
6
GUEST SPEAKERS
There is an opportunity within the structure of the Workshop to invite guest
speakers in to address the class. The topic for the guest speaker is “workplace
expectations and hiring procedures”; this may, of course, be tailored to suit the
speaker’s expertise. You will have to secure your guest speaker from the local
community. Some possible sources are:
An Employment Agency
If there is an employment agency in your community that regularly serves
employers and job searchers in the profession or trade you are working with, ask
them to come in to address such topics as:
needs of employers
current hiring trends
temporary work -- if any
resumes - what works, what doesn't.
A Human Resource Professional from a Large Employer
The speaker should address:
How are positions advertised?
What kind of people are they looking for?
What stands out in a resume?
What are the working conditions, benefits, etc.?
"A Day in the Life of..."
Participants generally enjoy listening to and asking questions of a practicing
professional in their field. It is even more beneficial if the guest speaker is
internationally trained and can address any challenges they encountered and
"secrets" to success.
One other option for a guest speaker is to integrate it into a field trip. In particular,
staff at Human Resources and Skills Development (HRSD) Employment
Resources Centres are often able to give very effective presentations in such
topics as research tools, "The World of Work" computer program and tours of the
Centre.
STIC: Overview & Orientation to the Accounting Sector
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INTRODUCTION
INTRODUCTION INTERVIEWS
TIME: 30 min.
LEARNING OUTCOME: Participants will have practiced presentation
skills and have learned the names and backgrounds of others in the
workshop.
DESCRIPTION:
Introduce yourself to the group.
In making your introduction, try to employ skills of self-marketing
by emphasizing your strengths and articulating your goals clearly.
Have participants’ pair up with the person beside them.
Distribute handout #1 “INTRODUCTION INTERVIEW” and allow
10 minutes for pairs to interview each other.
Have each partner introduce the other. Comment on the
introductions as needed.
When the introductions are complete, handout the Participant
Workbooks for the workshop.
STIC: Overview & Orientation to the Accounting Sector
8
Handout #1
Introduction Interview
Ask your partner the following questions. Record their answers. Be prepared to
tell the rest of the class about your partner.
What is your name?
Where are you from?
How long have you been in
Canada?
What is your accounting
background (e.g. were you
licensed in your country of
origin? What kind of work did
you do?)
What is your educational
background?
How long have you practiced
accounting?
Why are you taking this
workshop?
STIC: Overview & Orientation to the Accounting Sector
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INTRODUCTION
EXPLANATION -- WORKSHOP PURPOSE & OVERVIEW
TIME: 15 min.
LEARNING OUTCOME: Participants will understand the rationale for
the workshop and its objectives.
DESCRIPTION:
Explain the rationale behind the creation of the Workshop. Points
you may wish to cover include:
Each year Ontario receives more than 100,000 immigrants, half of whom
are highly educated and trained. Many need to become licensed or
certified in order to practice their profession in Ontario.
Government has an interest in ensuring that newcomers are able to work
in their profession; this prevents unemployment and fulfills Canada’s
human resource needs.
Many newcomers feel they have been unable to find work in their
profession because they lack Canadian experience, lack the required
language skills (both sector-specific terminology and general workplace
communication skills) and/or lack information on professional licensing
and Canada’s job market. This workshop was created to address these
needs.
Instruct participants to open their Workbooks to page 1. Review
the Workshop Goals with them (using the overhead provided) and
outline the structure of the workshop.
You may wish to emphasize that this workshop is not a job search
workshop (although job search resources are provided).
STIC: Overview & Orientation to the Accounting Sector
10
Overhead 1
WORKSHOP GOALS
In this workshop, you will…
Learn about…
The labour market in general, and in industries where
accountants and related occupations work.
The three accounting designations in Ontario and the
requirements for each.
The legislation related to the accounting profession in Ontario.
The impact of technology on the accounting profession in
Ontario.
Opportunities and rules surrounding self-employment for
accountants.
Opportunities for networking with other members of your
profession.
Opportunities in related occupations.
STIC: Overview & Orientation to the Accounting Sector
11
Overhead 1 (cont’d)
WORKSHOP GOALS, CONTINUED
In this workshop, you will…
Practise how to…
Market your skills.
Discuss issues in your profession.
Network with peers.
Create a plan to…
Research the labour market.
Complete the licensing process for your profession.
STIC: Overview & Orientation to the Accounting Sector
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INTRODUCTION
HOW MUCH DO YOU KNOW? (QUIZ)
TIME: 30 min.
LEARNING OUTCOME:
Participants will understand:
What constitutes a regulated profession
The role of regulatory bodies
Which professions are regulated
DESCRIPTION:
Instruct participants to complete, on their own, the quiz on page 2
of their workbooks.
Take up answers as a whole class (use Answer Key provided).
Try to avoid getting into in-depth discussion of licensing issues.
Explain that the exercise is intended to be a starting point for the
next week and that by the end of the workshop participants will
understand the legislative and licensing issues thoroughly.
You may wish to offer copies of the brochure “Access to
Professions in Ontario…” from the Ministry of Training, Colleges
and Universities, to anyone who would like to look up a particular
profession.
STIC: Overview & Orientation to the Accounting Sector
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REGULATED PROFESSIONS:
HOW MUCH DO YOU KNOW?
1. A profession is “regulated” when:
A) Entry into the profession is controlled
by an organization.
B) There is provincial legislation defining
who can practise the profession.
C) There are standards of practice that
members of the profession must
meet.
D) All of the above.
E) None of the above.
2. You cannot work as a member of a
regulated profession without a
license.
True
False
3. Professional regulatory bodies have
responsibility for:
A) Setting entry and training requirements.
B) Assessing qualifications and
credentials.
C) Disciplining members of the
profession.
D) All of the above.
E) None of the above.
4. Professional regulatory bodies are
made-up of members of the profession
they control.
5. Which of the following occupations
are not regulated professions?
A) Architect
B) Lawyer
C) Computer programmer
D) Engineering Technologist
E) Chartered Accountant
F) Massage Therapist
6. In most cases, people who have been
educated outside of Canada are not
permitted to practise their profession
in Ontario.
True
False (They will be
expected to meet certain requirements
but many foreign-trained professionals
practise in Ontario.)
7. Most professional regulatory bodies
require new members of the
profession to have:
A) A degree from a Canadian
university or equivalent.
B) Work experience in Canada.
C) Acceptable English or French
language skills.
D) All of the above.
E) None of the above.
(Though not all of these are
required by every profession.)
True
False (They are called “selfregulating” professions.)
STIC: Overview & Orientation to the Accounting Sector
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SECTION ONE:
THE LABOUR MARKET
In this section, participants will learn about:
The labour market in Canada
Major industries in which accountants are employed
Labour market research techniques
Skills in demand
STIC: Overview & Orientation to the Accounting Sector
15
SECTION ONE: THE LABOUR MARKET
GENERAL OVERVIEW
Activity: Lecture, followed by group terminology activity and
individual question/answer activity.
TIME: 1 hour
LEARNING OUTCOME:
Participants will know:
The definition of labour market
The five major forces that shape the labour market
14 terms commonly used to describe the labour market
How economic and other trends will affect the industries where
accountants work.
DESCRIPTION:
Use the lecture notes and overheads to guide your lecture.
When you have finished your lecture, organize the class into
groups of 3-4. Instruct participants to complete the terminology
exercise on page 5 of their workbooks.
Take up the answers using the answer key provided on page 20.
STIC: Overview & Orientation to the Accounting Sector
16
THE LABOUR MARKET IN CANADA
1. Ask the class: When we talk about the Labour Market, what do we
mean?
Responses might include:
The supply and demand of labour or work
The marketplace for jobs and opportunities
Trade between workers and employers
2. Why is it important to understand what is happening in the Labour
Market?
Responses might include:
To know where the jobs are
To know what skills are in demand so that you can get the skills
that employers need
To know when to change careers
3. Place Overhead 2 on the overhead projector and read the quote
aloud. Points to make:
This is a time of dramatic change in the Canadian labour
market.
Although Canada has recovered from the recession of the early
1990s, some have called it a “jobless recovery” – meaning
unemployment levels have remained high.
Unemployment is greatest amongst those with lower education
levels.
Canada’s economy is also regional – which means that
unemployment levels and skill shortages vary across the
country. E.g.: The forest industry is strongest in British
Columbia while Toronto is the centre of the financial services
industry.
The key, then, is to understand where you fit in – in the context
of these changes.
STIC: Overview & Orientation to the Accounting Sector
17
Lecture notes, continued…
4. Explain to participants that what makes the labour market change
are “trends”. A trend can be defined as: “a long-term change in
social direction, broad in scope, and identified by many sources.
You may wish to ask participants to come up with several trends
they are aware of which are affecting the Canadian economy and
the labour market. Answers should include:
Globalization: Canadian business is affected by competitors around the
world and must adapt to global trends and innovations, including
technological changes and the trend toward less job security.
Demographics: The Canadian population is aging. This means large-scale
retirement and growth in occupations that serve the needs of the elderly.
Technology: Expanding use of computers and telecommunications will
continue to render some occupations obsolete while creating opportunity in
other areas.
The Shift to a Service-based Economy: Resource-based industries, such
as agriculture and forestry, are declining while service-based industries such
as financial or business services are among the fastest growing industries.
This growth has partly been the result of more women entering the labour
force, the aging of the baby boomers, and an increase in disposable income
amongst older workers.
Focus on Customer Service: As customers demand more for their dollar,
the emphasis across all sectors has been on increasing efficiency in order to
provide the best product or service at the most reasonable price.
STIC: Overview & Orientation to the Accounting Sector
18
Overhead 2
“…Every change carries in its wake new
employment opportunities. The trick during
periods of change is to grasp the larger patterns
emerging, while trying to find where the jobs are
at any specific time.
It is important to understand both the overall
economic playing field and the evolving
employment rules as they might apply to you
and your future.”
— from Where the Jobs Are, by Colin Campbell
STIC: Overview & Orientation to the Accounting Sector
19
LABOUR MARKET TERMS:
Attrition
Vacancies due to retirement or death of the workers.
Baby Boomers
The generation of people born between 1945 and 1966;
because of its size, this generation has a profound effect on
the economy and the labour market.
Benefits
Additional incentives, beyond wages, provided by an
employer to its employees.
Contract Work
Usually refers to work secured for a specific period of time or
for the completion of a specific project. Often does not
include benefits.
Downsizing
An attempt to improve efficiency by reducing the size of a
company’s workforce.
Demography
The study of population patterns which provides information
such as statistics on birth, death, and age in the community.
Globalization
The sharing of labour, production, ideas, knowledge,
products and services across borders.
Industry
A specific branch of manufacture and trade. Examples:
Forestry, Financial Services.
Labour Force
Outsourcing
The part of the working-age population participating in work
or actively job seeking.
Self-Employment
Occurs when one company has some of its work done by
another company
When an individual markets his or her skills for hire on an
“as-needed” basis to companies, organizations.
Standard Jobs
Jobs that offer full-time, full-year work with a single employer.
They usually provide benefits and some career prospects.
Underemployment
Union
Occurs when an individual works in a job for which he or she
is overqualified (i.e. has significantly more education or skills
than the job requires).
An organization that represents and negotiates on behalf of a
group of workers.
STIC: Overview & Orientation to the Accounting Sector
20
SECTION ONE: THE LABOUR MARKET
ACCOUNTING IN CANADA
ACTIVITY: Small group activity
TIME: 1 hour
LEARNING OUTCOME:
Participants will know how economic and other trends will affect the
industries where accountants work.
DESCRIPTION:
Use the lecture notes and overhead 3 to give an introduction to
accounting in Canada
Organize participants into groups of 3-4.
Instruct participants to complete the exercises on pages 6-7 in
their workbooks.
Take up answers as a class using the Answer Key provided.
When explaining Labour Market Information, it is important to
explain the key factors that are taken into consideration in arriving
at the employment prospect for each occupation. These are:
The rate of projected employment growth to the year 2007 for
the occupation as compared to the projected employment
growth for all occupations in Ontario
Anticipated number of job openings for the occupation due to
retirements
Reports by employers on difficulties in finding qualified
workers to fill vacant positions.
Information about significant economic or business trends or
technological developments affecting the demand for the
particular occupation or the skills needed.
STIC: Overview & Orientation to the Accounting Sector
21
THE LABOUR MARKET:
ACCOUNTING IN CANADA:
There are several types of accountant in Canada. Informally, anyone who
performs bookkeeping and other financial services is considered an accountant
and they need not be licensed to do so.
There are, however, three professional accounting designations that are highly
valued in the Ontario labour market. They are
•
Chartered Accountant (CA)
•
Certified Management Accountant (CMA)
•
Certified General Accountant (CGA)
Use Overhead 3 to explain the differences between the three accounting designations.
STIC: Overview & Orientation to the Accounting Sector
22
Overhead 3
The 3 Professional Accounting Designations
CHARTERED ACCOUNTANTS
The largest and oldest professional accounting designation
Licensed by the Institute of Chartered Accountants of Ontario
Also called a Public Accountant
CAs work in industry, government, education, small businesses, large corporations
They are the only accountants who can perform audits, issue and sign-off on an
auditor’s report
A CA’s duties include:
• Financial analysis services, consultation
• Planning, setting up and administering accounting systems
• Examining accounting records and preparing financial reports
• Developing and maintaining cost-finding, reporting and internal control
procedures
• Tax planning and preparing income tax returns
• Acting as trustee in bankruptcy proceedings
CERTIFIED MANAGEMENT ACCOUNTANT
Certified by the Society of Certified Management Accountants of Ontario
Can perform audits but cannot issue and sign-off an auditor’s report
95 per cent of CMAs work as employees of corporations; 35 per cent of those are
presidents, vice presidents, chief financial officers, controllers, and treasures.
A small percentage work as self-employed consultants.
Duties include:
• Monitoring, interpreting and communicating operating results
• Helping management to evaluate performance and control operations
• Making decisions about product or service design
CERTIFIED GENERAL ACCOUNTANT
Certified by the Certified General Accountants Association of Ontario.
Can perform audits but cannot issue and sign-off an auditor’s report
Duties include:
• Managing the process of measuring, interpreting and reporting on the financial
activities of an organization
• Developing, executing and evaluation financial plans and policies
• Financial planning, tax planning, business valuation, bankruptcy services, estate
execution and general management consulting for businesses and individuals.
STIC: Overview & Orientation to the Accounting Sector
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THE LABOUR MARKET:
ACCOUNTING IN CANADA:
1. Name three industries where there is growth in employment opportunities
for accountants. What factors are causing this growth?
Business services, including consulting. The trend toward outsourcing
certain functions of a business is driving this growth.
Telecommunications – Certified Management Accountants in particular are
needed to help develop and launch new products and improve customer
service.
Manufacturing – generally good conditions in the industry and the need to
remain competitive mean there are opportunities for financial experts.
2.Name three job titles which accountants typically hold:
Controller
Financial Analyst
Financial Manager
Accountant
Business Manager
3.How has the trend toward outsourcing business services affected the labour
market for accountants?
Though it has meant the loss of some in-house accountants, outsourcing has also
led to the development and proliferation of consulting firms that provide
financial services and expertise.
4.How is the role of the accountant within large companies changing?
Accountants are taking on leadership roles, are often managers and are valued
for their analytical skills and knowledge in finance and taxation.
5.What are some of the positive impacts that technological change is having on
the accounting profession?
It has reduced the need for tedious work; the emphasis is now more on the
accountants planning, consulting and communication skills.
6.What is “forensic accounting”?
Forensic accountants identify potential vulnerabilities to fraud and set-up
systems to prevent it, such as internal control systems and procedures to prevent
and detect fraudulent activity. It is a very high growth industry.
STIC: Overview & Orientation to the Accounting Sector
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THE LABOUR MARKET:
ACCOUNTING IN CANADA:
Additional Information
What is Forensic Accounting?
The integration of accounting, auditing and investigative skills yields the speciality known
as Forensic Accounting.
"Forensic", according to the Webster's Dictionary means, "Belonging to, used in or
suitable to courts of judicature or to public discussion and debate."
"Forensic Accounting", provides an accounting analysis that is suitable to the court that
will form the basis for discussion, debate and ultimately dispute resolution.
Forensic Accounting encompasses both Litigation Support and Investigative
Accounting.
As Forensic Accountants, we utilize accounting, auditing and investigative skills when
conducting an investigation. Equally critical is our ability to respond immediately and to
communicate financial information clearly and concisely in a courtroom setting.
Forensic Accountants are trained to look beyond the numbers and deal with the
business reality of the situation.
Other Terminology
Forensic Investigation
The utilization of specialized investigative skills in carrying out an inquiry conducted in
such a manner that the outcome will have application to a court of law. A Forensic
Investigation may be grounded in accounting, medicine, engineering or some other
discipline.
Forensic Audit
An examination of evidence regarding an assertion to determine its correspondence to
established criteria carried out in a manner suitable to the court. An example would be a
Forensic Audit of sales records to determine the quantum of rent owing under a lease
agreement, which is the subject of litigation.
Internal Audit
An audit performed by an employee who examines operational evidence to determine
whether prescribed operating procedures have been followed.
External Audit
An audit performed by an auditor engaged in public practice leading to the expression of
a professional opinion that lends credibility to the assertion under examination.
STIC: Overview & Orientation to the Accounting Sector
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THE LABOUR MARKET:
ACCOUNTING IN CANADA:
Additional Information
What does a Forensic Accountant do?
A Forensic Accountant is often retained to analyze, interpret, summarize and present
complex financial and business related issues in a manner that is both understandable
and properly supported. Forensic Accountants can be engaged in public practice or
employed by insurance companies, banks, police forces, government agencies and
other organizations. A Forensic Accountant is often involved in the following:
•
•
Investigating and analyzing financial evidence;
Developing computerized applications to assist in the analysis and presentation
of financial evidence;
• Communicating their findings in the form of reports, exhibits and collections of
documents; and
• Assisting in legal proceedings, including testifying in court as an expert witness
and preparing visual aids to support trial evidence.
In order to properly perform these services a Forensic Accountant must be familiar with
legal concepts and procedures. In addition, a Forensic Accountant must be able to
identify substance over form when dealing with an issue.
How do I become a Forensic Accountant?
The Canadian Institute of Chartered Accountants (CICA) has established The
Alliance for Excellence in Investigative and Forensic Accounting (Alliance) to
encourage and recognize excellence in the provision of Financial Investigation, Forensic
Accounting and Financial Litigation Support services by Chartered Accountants.
One of the objectives of the Alliance is to develop and manage a specialist certification
program. In Canada, CAs who wish to be designated as specialists in Investigative and
Forensic Accounting must successfully complete a Diploma Program.
The Diploma Program is not restricted to Chartered Accountants. The Diploma in
Investigative and Forensic Accounting (DIFA) is designed as a comprehensive program
for someone who wishes to practice in the area of Investigative and Forensic
Accounting.
In addition, an accountant can learn about Forensic Accounting by attending various
seminars, courses and obtaining the Certified Fraud Examiner (CFE) designation offered
by the Association of Certified Fraud Examiners.
The Forensic Accountant's prior audit and accounting experience will be of tremendous
assistance. But ultimately, it is only through working with experienced Forensic
Accountants on various cases that one can learn the skills necessary to become a
capable Forensic Accountant.
STIC: Overview & Orientation to the Accounting Sector
26
SECTION ONE: THE LABOUR MARKET
RESEARCH SKILLS
ACTIVITY: Brainstorming, Lecturette, individual activity
TIME: 1hour
LEARNING OUTCOME:
Participants will understand how to conduct labour market research
on their own using libraries and/or the Internet.
DESCRIPTION:
Explain that in order to stay on top of what is happening in their
field, participants should be able to gather information on their
own.
Ask the class to brainstorm sources of information that would be
useful to accountants. Record responses on an overhead
projector or flip chart.
Responses should include: The Internet
Directories
Government
Magazines & Newspapers
Employment Resource Centres
“Information interviews”
The Yellow Pages
Review the material on researching companies on pages
8-13 of the participant workbooks. Have them complete
the worksheet on page 14. Circulate the room and
comment on participants’ work plans with them.
STIC: Overview & Orientation to the Accounting Sector
27
SECTION ONE: THE LABOUR MARKET
SKILLS IN DEMAND
ACTIVITY: Individual – Isolate requirements and complete checklist.
TIME: 30 min.
LEARNING OUTCOME: Participants will have gained practise in
reading job ads, isolating the requirements and determining whether
they meet the requirements.
DESCRIPTION:
Instruct participants to use the Sample Job Ads in their Resource
Package to complete the exercise on page 15 of their workbooks.
Circulate the room and provide support, answers as needed.
STIC: Overview & Orientation to the Accounting Sector
28
SECTION ONE: THE LABOUR MARKET
“EMPLOYABILITY SKILLS”
ACTIVITY: Lecture, followed by Team Skills Group Activity and Pair
Interviews.
TIME: 1 hour
LEARNING OUTCOME: Participants will understand the three
categories of general skills in demand in the Canadian labour force
and will have practised working as a team.
DESCRIPTION:
Place the Employability Skills Profile on the overhead (Overhead
4, Participant Workbook page 18).
Explain to participants that while specific skills are needed for
specific jobs, these are the skills that are deemed to be highly
valued by most Canadian employers.
Go through the Employability Skills Profile with them. Explain that
there are three categories: Academic Skills, Personal
Management Skills and Teamwork Skills.
Explain that teamwork skills are considered very important yet are
often the most difficult to acquire and articulate.
Ask participants to think about the qualities they believe a person
must possess to be an effective team member. Give them three
minutes to list these qualities on page 16 of their workbooks.
Each person then ranks the items on his/her list according to the
perceived importance of each quality (with 1 representing the
most important quality of an effective team member).
When the participants have finished their rankings, divide them
into four groups.
STIC: Overview & Orientation to the Accounting Sector
29
SECTION ONE: THE LABOUR MARKET
“EMPLOYABILITY SKILLS” (CONT’D)
The members of each group share their lists and the rationales for
their selections and then attempt to reach consensus on the five
most important qualities of an effective team member. If
consensus cannot be reached within ten minutes, the group
members may vote to determine the group’s list of qualities.
A volunteer from each group reports on the group’s top five
qualities. Facilitator records on flip chart.
Debrief: Can they identify anyone in their group who:
took on a leadership role?
said something that helped the group make a decision?
expressed his/her opinion clearly and confidently?
acted in a positive, constructive manner?
asked someone else for his/her opinion?
praised someone?
Place Overhead 5 – Characteristics of Effective Team Members –
on the projector. Are the traits they chose on the list?
Organize participants into pairs for a role-playing exercise.
Instruct participants to choose an interviewer and an interviewee.
The interviewer should use the list of questions on page 17 of
their workbooks. Explain that the person who is responding
should try to use some of the characteristics of an effective team
member that we have just identified in their responses – while
remaining honest about their own skills. Instruct participants to
reverse roles.
Debrief:
Was everyone able to describe at least one situation in which
they worked effectively as a member of a team?
Did knowing the characteristics of effective team members help
them to describe their role in a team situation?
Why are teamwork skills so important in accounting?
STIC: Overview & Orientation to the Accounting Sector
30
Overhead 4
*The Employability Skills 2000+ Profile was created by the Conference Board of Canada
EMPLOYABILITY SKILLS 2000+ PROFILE*:
Fundamental Skills
The skills needed as a base for
further development
Communicate
• read and understand information
presented in a variety of forms (e.g.
words, graphs, charts, diagrams)
• write and speak so others
pay attention and understand
• listen and ask questions to
understand
and appreciate the points of view of
others
• share information using a range of
information and communication
technologies ( e.g. voice, e-mail,
computers)
• use relevant scientific, technological
and mathematical knowledge and
skills to explain or clarify ideas
Manage Information
• locate, gather and organize
information using appropriate
technology and information systems
• access, analyze and apply knowledge
and skills from various disciplines
(e.g. the arts, languages, science,
technology, mathematics, social
sciences, and the humanities)
Use Numbers
• decide what needs to be
measured or calculated
• observe and record data using
appropriate methods, tools and
technology make estimates and
verify calculations
Think & Solve Problems
• assess situations and identify
problems
• seek different points of view and
evaluate them based on facts
• recognize the human, interpersonal,
technical, scientific and mathematical
dimensions of problem
• identify the root cause of a problem
• be creative and innovative in
exploring possible solutions
• readily use science, technology and
mathematics as ways to think,
• gain and share knowledge, solve
problems and make decisions
• evaluate solutions to make
recommendations or decisions
• implement solutions
• check to see if a solution works and
act on opportunities for improvement
Personal Management Skills
The personal skills, attitudes and
behaviours that drive one’s potential
for growth
Demonstrate Positive Attitudes &
Behaviours
• feel good about yourself and be
confident
• deal with people, problems and
situations with honesty, integrity and
personal ethics
• recognize your own and other
people’s good efforts
• take care of your personal health
• show interest, initiative and effort
• be responsible
• set goals and priorities balancing work
and personal life
• plan and manage time, money and
other resources to achieve goals
• assess, weigh and manage risk
• be accountable for your actions and
the actions of your group
• be socially responsible and contribute
to your community
Be Adaptable
• work independently or a part of a
team
• carry out multiple tasks or projects
• be innovative and resourceful: identify
and suggest alternative ways to
achieve goals and get the job done
• be open and respond constructively to
change
• learn from your mistakes and accept
feedback
• cope with uncertainty
Learn Continuously
• be willing to continuously learn and
grow
• assess personal strengths and areas
for development
• set your own learning goals
STIC: Overview & Orientation to the Accounting Sector
• identify and assess learning sources
and opportunities
• plan for and achieve your learning
goals
Work Safely
• be aware of personal and group
health and safety practices and
procedures, and act in accordance
with these
Teamwork Skills
The skills and attributes needed to
contribute productively
Work with Others
• understand and work within the
dynamics of a group
• ensure that a team’s purpose and
objectives are clear
• be flexible: respect, be open to and
supportive of the thoughts, opinions
and contributions of others in group
• recognize and respect people’s
diversity, individual differences and
perspectives
• accept and provide feedback in a
constructive and considerate manner
• contribute to a team by sharing
information and expertise lead or
support when appropriate, motivating
a group for high performance
• understand the role of conflict in a
group to reach solutions
• manage and resolve conflict when
appropriate
Participate in Projects & Tasks
• plan, design or carry out a project or
task from start to finish with welldefined objectives and outcomes
• develop a plan, seek feedback, test,
revise and implement
• work to agreed quality standards and
specifications
• select and use appropriate tools and
technology for a task or a project
• adapt to changing requirements and
information
• continuously monitor the success of a
project or task and identify ways to
improve
31
Overhead 5
CHARACTERISTICS OF EFFECTIVE TEAM MEMBERS
Effective team members:
support, protect and defend both the team and the team leader
act in a positive, constructive manner
provide appropriate feedback
accept ownership for team decisions
participate voluntarily
express opinions, for and against
ask questions
encourage others to express their ideas fully
listen to the other team members
consider and build on other members’ ideas
state problems, along with alternative solutions/options
make their own needs known
maintain confidentiality
give praise and recognition when suitable
criticize ideas, not people
view criticism as an opportunity to learn
avoid defensiveness when fellow team members disagree with your ideas
stay focused on the team objectives
avoid disruptive behaviour such as side conversations and inside jokes
attend meetings regularly and promptly
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 32
SECTION TWO:
THE LEGISLATIVE FRAMEWORK
In this section, participants will learn about:
The legislative environment for accountants
The Public Accounting Act
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 33
SECTION TWO: THE LEGISLATIVE FRAMEWORK
ACTIVITY: Lecturette, followed by individual exercise
TIME: 1 hour, 20 min.
LEARNING OUTCOME: Participants will know what legislation
affects them professionally, will have read and understood the Public
Accountancy Act and will understand the two sides of the debate over
control of licensing for public accountants.
DESCRIPTION:
Use the lecture notes and overheads to guide your lecture.
Instruct participants to take out their copy of the Public
Accountancy Act from their Resource Package and complete the
exercise on pages 27. Take up answers as a class using the
Answer Key provided.
Order the Public Accountancy Act from Publications Ontario
(416) 326-5300 or 1-800-668-9938. You can also obtain it through the
Internet at
www.e-laws.gov.on.ca/DBLaws/Statutes/English/90p37_e.htm
Instruct participants to read the article “Accountants lock horns on
control of licensing” on pages 28-29 and to answer the questions
that follow on Page 30. Take up results as a class.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 34
THE LEGISLATIVE FRAMEWORK:
Introduction
Remind participants that being a member of a regulated profession means
that there are laws governing the conduct and responsibilities of members of
that profession. These laws are designed to protect the public.
Explain that it is the responsibility of members of a particular profession to
know and understand the laws that relate to that profession.
Place Overhead 6 on the projector.
Explain that there are two levels of government – federal and provincial –
which have some role in the professions, especially with respect to the
foreign-trained.
Review the overhead, explaining the roles of various ministries, as follows:
FEDERAL MINISTRIES
Citizenship & Immigration Canada (CIC)
Responsible for legislation and policy governing immigration to Canada.
Some potential immigrants are awarded “points” based on their
occupation. The federal government is assuming that because your
occupation is in demand here in Canada, you will integrate easily into the
economy. The fact that this is not always true is being debated at the
federal level and may result in changes to immigration policy.
Note that some participants may have undergone an “assessment” of their
professional status as part of the immigration process. Explain that this
assessment is not binding – that is, it does not mean that you are
guaranteed a license to practise in Ontario.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 35
THE LEGISLATIVE FRAMEWORK (cont’d):
FEDERAL MINISTRIES (Cont’d)
Human Resources & Skills Development
This is the ministry that deals with Employment Insurance and provides
information and resources to jobseekers – most recently through
Employment Resource Centres. Beyond that, however, HRSD has no
direct role in the regulated professions.
PROVINCIAL MINISTRIES
Ministry of Training, Colleges & Universities: The Constitution Act gives
exclusive authority to each province in Canada to make laws in relation to
education. In Ontario, the Ministry of Education and the Ministry of Training,
Colleges and Universities are responsible for the administration of laws relating
to education and skills training.
Among its responsibilities are:
developing policy directions for adult education and labour market training
setting standards for occupational training, particularly for trades under the
Trades Qualification and Apprenticeship Act
managing provincial programs to support workplace training and
workplace preparation, including apprenticeship, career and employment
preparation, and adult literacy and basic skills
undertaking labour market research and planning
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 36
Attorney General
The Ministry of the Attorney General holds responsibility for the Public
Accountancy Act but it delegates responsibility for administering these
regulations to the Public Accountants Council.
The Public Accountants Council is responsible for administering the
provisions of the Act by:
ensuring that prospective members meet the qualifying requirements
considering matters of common interest and concern to public accountants
and the submission of representations to any government ministry or public
authority with reference to any such matters
granting or refusing licenses
maintaining and improving the standards of professional qualifications of
practising public accountants in Ontario
exercising disciplinary powers over licensees
prosecuting offences under the Act
revoking licenses
Individual Associations such as The Institute of Chartered Accountants of
Ontario are responsible for:
Setting entry and training
requirements
Setting standards of practice
Assessing qualifications and credentials
STIC: Overview & Orientation Workshop (DRAFT)
Registering qualified
applicants
Disciplining members.
Facilitator’s Guide 37
THE LEGISLATIVE FRAMEWORK (cont’d):
Explain that the Public Accountancy Act is not the only piece of legislation that
affects Accountants. Other laws more specific to the practice of particular
disciplines include:
Canadian Business Corporations Act
Income Tax Act
Registered Pension Plan Act
Securities Act
In addition, the work of accountants is guided by certain standards of practise set
by the regulatory bodies. These include:
Canadian Institute of Chartered Accountants Handbook
CGA-Canada’s Public Practice Manuals
Public Sector Accounting and Auditing Standards Handbook
Certified Management Accountants Handbook
CGA-Canada GAAP Guide – available to members only
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 38
Overhead 6
THE LEGISLATIVE FRAMEWORK
FEDERAL LEVEL
Citizenship and
Immigration Canada
Human Resources and Skills
Development
PROVINCIAL LEVEL
Ministry of
Training, Colleges
& Universities
Attorney General
Public Accountancy
Act
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 39
THE LEGISLATIVE FRAMEWORK:
THE PUBLIC ACCOUNTANCY ACT -Find the definitions for “public accountant”: “a person who either alone or in
partnership engages for reward in public practice” involving, among other
things, the preparation of “any financial, accounting or related statement”
(whether audited or unaudited) but does not include bookkeeping or
management accounting.
1. Compare your qualifications and experience with those outlined in the
definition. Would you be considered a “public accountant” as defined under
this Act?
[ANSWERS WILL VARY]
2. In Section 14 of the Act, you will find the qualifications for a license.
Who is eligible to be entered on The Roll of Public Accountants in Ontario?
• Anyone who is a member of the qualifying body or
• Was licensed under the Act or a predecessor of the Act or
• Is a member of the CGA-Ontario and has taken the course of
instruction and passed the final exams of the CGA-Ontario and has
at least three years experience in public accountancy in Ontario and
was a member or a student of CGA-Ontario on April 1st, 1962. In
other words, this “grandfathering” clause allowing CGAs prior to
1962 to be considered public accountants.
3. For what length of time a license valid?
For as long as the Public Accountants Council states on the license.
4. What are the fines for:
• Obtaining a license by false representation: not more than $10,000
• Failing to surrender a license: not more than $2,000.00
5. What actions are considered “abuse of a license” and what is the penalty?
Using a license of another person; allowing a person to use your license;
purporting to be licensed when you are not.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 40
SECTION THREE:
LICENSING & CERTIFICATION
In this section, participants will learn about:
The terminology associated with professional licensing
The requirements and process for becoming a licensed or certified
accountant in Ontario
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 41
SECTION THREE: LICENSING
INTRODUCTION
ACTIVITY: Lecturette & Discussion
TIME:
10 minutes
LEARNING OUTCOME:
Participants will understand the relative advantages and
disadvantages to becoming a licensed accountant as well as the
basic requirements for the three designations.
DESCRIPTION:
Explain to participants that, unlike many other regulated
professions, accountants do not need to be licensed in order to
work in the field in Ontario. There are disadvantages, however, to
being an unlicensed accountant, rather than being a licensed CA
or a CMA or CGA.
Engage participants in a discussion of the advantages and
disadvantages of attempting to gain a license. Answers may
include:
Advantages
Greater employment
opportunities
Higher salary expectations
Prestige
Allows self-employment
Disadvantages
Costly
Time-consuming
Explain that for many internationally trained accountants, a
license is an important asset in the job search. Because many
employers are wary of foreign qualifications, they look for some
indication that the applicant is qualified to work in Ontario. A
license gives them that guarantee.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 42
SECTION THREE: LICENSING
TERMINOLOGY
ACTIVITY: Small Groups – Matching Game
TIME: 1 hour
LEARNING OUTCOME: Participants will learn 11 terms associated
with the licensing process.
DESCRIPTION:
Organize the class into groups of 4-5.
Instruct participants to complete the exercise on page 32 in their
workbooks.
Take up answers as a class (use answer key provided).
In the same groups, instruct participants to complete the Acronym
exercise on page 33 of their workbooks.
Take up answers as a class (se answer key provided).
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 43
LICENSING TERMINOLOGY:
Accreditation
A process of reviewing and evaluating academic credentials and
other forms of qualification to determine whether an applicant
has met entry requirements for education or occupational
purposes.
Appeal
Documented evidence of competency based on completion of a
recognized program of study or training.
Assessment
Occupations for which the standards of practice and competence
are established by provincial law.
Credential
A formal document that provides the holder the exclusive right to
practice certain legally-defined functions.
Equivalency
Recognition that a program or course or certificate from one
country or institution is the same in content as a program or
course or certificate from another country or institution.
Licence
The process of identifying and measuring skills and knowledge
for the purpose of recognizing and giving credit for learning that
has been acquired from formal and informal education, training,
work or other life experience.
Prior Learning Assessment
Minimum guideline for certain tasks that are recommended, but
not legally required, for a profession.
Protected Title
Restricts the use on occupational title to those who are registered
with the appropriate occupational body.
Registration
Right of an unsuccessful applicant to challenge a decision of an
occupational regulatory body in the occupational
licensing/certification process.
Regulated Profession
Process by which an agency or association grants public
recognition to a training institution, program of study or service
which meets certain pre-set standards.
Standards of Practice
A formal recognition that a person has attained a standard of
proficiency in the skills and knowledge required to practise in a
profession. Often used interchangeably with “certification” or
“licensing”, particularly in the regulated health professions.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 44
ACRONYMS –
Acronym
ICAO
CICA
Meaning
Institute of Chartered
Accountants of Ontario
Canadian Institute of Chartered
Accountants
PAC
Public Accountants Council
CASAO
Chartered Accountants Student
Association of Ontario
International Qualifications
Appraisal Board
IQAB
UFE
Uniform Final Examination
CARE
Chartered Accountant
Reciprocity Examination
STIC: Overview & Orientation Workshop (DRAFT)
Role/Purpose
Regulatory body for public
accounting.
National professional
association of chartered
accountants; networking,
professional development.
Provides license to public
accountants in Ontario
Serves chartered accounting
students in Ontario
Determines which accounting
programs are equivalent to
Canadian programs.
An internationally recognized
professional exam in
accounting.
This examination is a measure of
professional competency of those
membership candidates who are
seeking admission to a Canadian
provincial or territorial institute of
chartered accountants through
the reciprocity provisions of the
institutes.
Facilitator’s Guide 45
SECTION THREE: LICENSING
SELF-ASSESSMENT
ACTIVITY: Individual – Identifying requirements for registration and
planning next steps.
TIME: 1 hour
LEARNING OUTCOME:
Participants will understand:
The requirements for their profession
The process for becoming licensed
The time and financial resources required.
Participants will have developed a plan to complete the registration
process.
DESCRIPTION:
Instruct participants use the licensing materials from the three
accounting regulatory bodies in their Resource Package to
complete the worksheet on page 34-35 of the workbook. Note
that participants should choose one of the designations to
complete this exercise.
As participants are working, circulate through the room answering
questions as needed.
Have participants’ hand-in their work.
Review it, make comments, and return it the next day.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 46
PROFESSIONAL REGISTRATION:
SELF-ASSESSMENT –ANSWER KEY
Using the registration information for your profession, complete the following plan.
What are the requirements for a licence for Public Accounting in Ontario? Indicate
which requirements you believe you meet.
Have
Need
Meets the requirements and is a member of one of the three
qualifying bodies (ICAO,CGA, CMA) or was previously licenced
under the Act, or was a member of the Certified General
Accountants of Ontario on April 1, 1962.
Was at any time licenced under this act or a predecessor act
Be of good character
Pay the required licensing fee -$130.00
What documents will you have to submit in order to have your credentials assessed?
1.
2.
3.
4.
5.
Application to the Public Accountants Council
Two letters of reference- that indicate good character and relevant
competence from licencees under the Act
Ability to demonstrate superior levels of knowledge and experience in
business information systems, financial management, corporate finance,
information technology, taxation.
Any other special circumstances that may have a bearing on the application
for licensure.
Ability to demonstrate familiarity with and adherence to professional ethics
and quality performance standards at a level comparable to that of Ontario
Do you meet the experience requirements as set out by the Public Accountants Council?
Why or why not?
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 47
PROFESSIONAL REGISTRATION:
SELF-ASSESSMENT –ANSWER KEY
Outline the steps you will need to follow to complete the registration process. The
first step has already been entered for you. List any fees you expect to pay for
each step and indicate which steps, if any, you have already completed
STEP
1.
FEES
COMP?
Contact the Public Accountants Council
N/A
2.
Submit completed application form with two letters of
reference and supporting documentation.
$130
Estimate how much it will cost you to complete the licensing process? $130
Estimate how long it will take you to complete the licensing process:
• This will depend on the circumstances of each applicant. Each applicant must first
be a member of the ICAO, CGA, CMA prior to applying to the Public Accountants
Council for a licence. Each applicant must have relevant experience and meet
the requirements of their respective regulatory body. For more information visit
their websites at:
Institute of Chartered Accountants of Ontario - www.icao.on.ca
Certified Management Accountants of Ontario – www.cma-ontario.org
Certified General Accountants Association of Ontario – www.cga-ontario.org
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 48
SECTION FOUR:
THE WORKPLACE
In this section, participants will learn about:
Workplace expectations
The impact of technology on the profession
Opportunities for self-employment in the profession
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 49
SECTION FOUR: THE WORKPLACE
HIRING PROCEDURES AND WORKPLACE EXPECTATIONS
ACTIVITY: Guest Speaker, with Q & A period.
TIME: 1 hour
LEARNING OUTCOME: Will depend on the guest speaker.
Participants will have practised asking meaningful questions of an
employer or other speaker.
DESCRIPTION:
See Preparation, page 7.
The day before your guest is scheduled to speak, have
participants prepare a list of questions they would like answered.
Use the worksheet on page 38 of their workbook.
Instruct participants to fill in the answers to their questions during
the presentation and, if questions are not addressed during the
presentation, to ask them in the question/answer session.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 50
SECTION FOUR: WORKPLACE
TECHNOLOGY
ACTIVITY: Reading, followed by Q&A
TIME: 30 min.
LEARNING OUTCOME: Participants will isolate 2-4 ways in which
technology is affecting members of their profession.
DESCRIPTION:
Instruct participants to use the Technology materials in their
Resource Package to complete the exercise on page 39 of their
workbook. Have them hand in their work and return it the next
day.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 51
SECTION FOUR: THE WORKPLACE
SELF-EMPLOYMENT
ACTIVITY: Lecturette, followed by individual activity.
TIME: 1 hour
LEARNING OUTCOME: Participants will know whether selfemployment is a viable option in their field, will have conducted a
brief assessment of their own attributes with respect to selfemployment and will have practised marketing skills in writing.
DESCRIPTION:
Use the lecture notes provided to give a brief overview of selfemployment, and contract work.
Explain that self-employment is not for everyone. It entails a great
deal of risk but the rewards can be higher pay and more flexibility
in your work life.
Instruct participants to complete the exercises on page 40 of their
workbook (no answer key).
Choose a few participants to read their advertisement aloud and
encourage the class to provide constructive criticism.
Instruct participants to complete the exercises on page 42 of their
workbook.
Take the answers up as a class (answer key page 53).
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 52
SELF-EMPLOYMENT –
Explain that there are several “non-traditional” work options for accountants in
Ontario.
Self-Employment:
You operate as a self-promoting business – either alone or in partnership
or as a corporation.
Self-employment involves high risk.
Business expenses may be deducted from income for tax purposes.
Contract Work
Similar to a traditional employer-employee relationship but is for a defined
term.
Offers employers flexibility.
Some benefits (eligibility for Employment Insurance, Canada Pension
Plan) are usually offered.
Salaries are usually higher than for traditional jobs.
Taxes are usually deducted.
Some contract employees use an Employment Agency to market them to
corporate clients. This allows you the comfort of knowing you will have
another assignment when the current one ends. The Agency is often paid
by the corporation (employer).
Answer Key – Page 42
1. What are the advantages of self-employment?
• Business expenses are be deducted
• Ability to work at home
from income for tax purposes
• Ability to choose different projects
• Flexible working hours
2. What are the disadvantages of self-employment?
• Uncertainty in finding another
• Involves risks
assignment when the current one
• Administrative requirements
ends.
3. What are the advantages of contract work?
• Salaries are usually higher than for
• Business expenses may or many not
traditional jobs
be deducted from income for tax
purposes
• Flexible working hours
• Ability to choose different projects
4. What are the disadvantages of contract work?
• Involves risks
• Agency fee
• Uncertainty in finding another assignment when the current one ends. Some contract
employees use an Employment Agency to market them to corporate clients. The agency
is often paid by the corporation (employer)
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 53
SECTION FIVE:
NETWORKING
In this section, participants will learn about:
Opportunities for networking in accounting
The skills associated with networking
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 54
SECTION FIVE: NETWORKING
ACTIVITY: Lecturette, brainstorming, group activity.
TIME: 1 hour
LEARNING OUTCOMES: Participants will have identified 10-12
networking opportunities and will have practised networking skills.
DESCRIPTION:
Review the material on page 45 of their workbooks. Ask
participants to jot down some networking opportunities they are
aware of. Record these on the overhead or flip chart.
Organize the class into groups of 3-4.
Instruct participants to complete the role-playing exercise on page
46.
Have each group report back to the class on how the “networker”
handled the situation.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 55
SECTION SIX:
RELATED OCCUPATIONS
In this section, you will learn about:
The occupations of Bookkeeper, Financial Planner and Financial Consultant.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 56
SECTION SIX: RELATED OCCUPATIONS
ACTIVITY: Lecturette, discussion & self-assessment
TIME: 20 min.
LEARNING OUTCOME: Participants will know what the
requirements are for accountants.
DESCRIPTION:
Review the material on pages 49-50 of the workbook.
Has anyone applied for these types of positions?
What has their experience been?
How do people feel about possibly being underemployed?
How do people feel about changing their resume to deemphasize the professional training & experience?
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 57
WRAP-UP
WHO DOES WHAT?
ACTIVITY: Small Groups – Matching Game
TIME: 20 min.
LEARNING OUTCOME: Participants will understand the roles and
responsibilities of 8 different stakeholders in the regulated
professions.
DESCRIPTION:
Organize the class into groups of 3-4.
Instruct participants to complete the exercise on page 51 in their
Workbooks.
Take up answers as a class (answer key provided).
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 58
WRAP-UP:
WHO DOES WHAT –
Attorney General of Ontario
Sets national policies for immigration.
Institute of Chartered Accountants
of Ontario
Provides non-binding assessments of
academic credentials.
Professional Association
Sets standards for skills, knowledge
and behaviour for their members.
Citizenship and Immigration Canada
Provides labour market information on
all occupations.
Human Resources and Skills
Development
Provides upgrading and training
opportunities.
Universities & Community Colleges
Administers the laws that set out the
requirements for becoming a Chartered
Accountant.
Community-based Agencies
Provides opportunities for English
language and other training, as well as
employment support.
Comparative Education Service
Provides networking and professional
development opportunities.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 59
WRAP-UP
GOAL SETTING & EVALUATION
ACTIVITY: Individual -- writing a goal statement
TIME: 30 min.
LEARNING OUTCOME: Participants will have created a short and
long-term goal statement.
DESCRIPTION:
Instruct participants to complete the exercise on page 52 in their
workbooks.
Have participants read their goals and objective out loud.
Hand out the evaluation form for the workshop.
STIC: Overview & Orientation Workshop (DRAFT)
Facilitator’s Guide 60
WORKSHOP EVALUATION
Overview and Orientation
Facilitator:
Session # & Year:
Your feedback is very important. Please be as honest and as specific as you can.
1. As a result of this workshop, do you feel you have:
Yes
a) Increased your knowledge of the labour
market in your field?
b) Increased your understanding of the laws
that apply to your profession?
c) Increased your knowledge of the licensing
and registration processes in Ontario?
d) A better understanding of your own status
in the licensing process?
2. Were the materials/exercises you were given:
Easy to understand?
Yes
Useful?
Yes
Detailed enough?
Yes
No
No
No
3. How can we improve the materials/exercises?
4. Please complete the following sentences:
The most useful part of this workshop for me was … because …
The least useful part of this workshop for me was … because …
Thank You!
No