A short history of female Chartered Accountants (CAs) in Canada

As the above chart shows, women in Canada have come a long, long way since their beginnings in the CA profession. To gain a true perspective on how far women have come in the profession, it’s enlightening to look back — way back — to 1922, when Mercy Ellen Crehan and Florence Eulalie Herkins became the first women to be admitted to membership. It seems the welcome was not exactly glorious: in the June 1966 issue of CAmagazine (then called The Canadian Chartered Accountant), FCA and former federal MP Ellen Fairclough wrote that one of the women “found it necessary to ‘defect’ to the United States to earn a living in her chosen profession.”

Over the next decades, the number of women in the profession grew ever so slowly. As Steve Brearton wrote in “A century of CAmagazine” (June/July 2011), “Even the opportunities afforded women during the Second World War to demonstrate their obvious competence barely opened doors.” By 1966, there were still only 125 women members — a situation that Fairclough bemoaned. “[The number] leaves much to be desired, particularly when there is such a demand, even an urgent need, to fill the vacancies which appear to be increasing in number in the profession. The question arises whether the profession is to be deprived of the services of qualified people because of age-old prejudices and inhibitions.”

By the mid-1970s, things were slowly starting to move. In 1976, Pamela Jermey became the first woman to garner top marks on the Uniform Final Examination (UFE). And in 1979, women took all three top spots on the UFE honour role. In a January 1980 CAmagazine editorial, Nelson Luscombe wrote, “There’s every indication that [women’s] presence will continue to increase, both in numbers and significance.” He cited an article in the same issue predicting that females would begin to be appointed to partnership in the early 1980s and that by the end of the first decade of the next century, the proportion “should reach 30%.” That last prediction did not come true. Is it time to make another?

 Find out more by reading the articles in the December 2012 Special Issue of CAmagazine online, in particular, the article “Women at Work” by Rosalind Stefanac.

50 years ago in the October 1962 CAmagazine

The October 1962 edition of CAmagazine discussed the “Need for reform in the Bankruptcy Act.” It stated that: “Bankruptcies and their attendant losses have become a most pressing problem…. A tremendous volume of business is presently conducted in Canada by ‘thin’ corporations — where the shareholders have very little of their own money in the company. [One] might well remark that such a corporation should not be given credit…. Our present Bankruptcy Act … displays no recognition, whatsoever, of the need of a separate set of ‘ground rules’ in dealing with corporations.”

Also, read about the “60th Annual Conference” (from the summary of the CICA annual meeting in Fredericton, New Brunswick) and “The new management theories make for poor performance” (a summary of “Executives who can’t manage,” from The Atlantic Monthly, July 1962).

The Canadian CA Logo - 1991 to 2011

In 1991, the Chartered Accountants of Canada introduced a new CA logo to present “A Bold New Image...with a Focus on the Future” aimed at creating a new visual identity for Chartered Accountants (CAs) across Canada. According to the Announcement Brochure: “Symbolizing the unity of our profession across the country, the new image provides a strong foundation for clear, consistent communication.” and “The new identity reflects the pride we feel regarding our history of success, and the enthusiasm with which we face our future as Chartered Accountants in Canada.”



The announcement states: “This new design will be used by all the provincial institutes as well as by The Canadian Institute of Chartered Accountants. This consistency of application will help to communicate the strength, stability and endurability of a cohesive, national profession. The identity derives exceptional strength from the clean simplicity of its design. It incorporates the letters “CA” into the visual symbol of a building block or cornerstone to further reinforce the concepts of strength and unity.” The announcement also states that: “The timelessness of the classic design reflects our long-standing tradition of quality. A tradition which reaches back through more than 100 years of history and will reach forward into our future.” (To view and read the announcement, click on the images.)

This new CA logo received a certificate of merit in the corporate identity category at the First Annual Design Effectiveness Awards in 1992 (see the article “CA Logo Wins Recognition”  on page 8 of the August 1992 issue of CA Magazine). The logo served the CA profession for about 16 years, until 2007, when a dynamic and modern redesigned logo was unveiled (refer to Canada’s CAs symbolized by new logo, posted on May 4, 2011).

Setting accounting and auditing standards in Canada - 1978

The article “Setting Accounting and Auditing Standards” was originally published in the September 1978 issue of CAmagazine. At that time, R.D. Thomas, FCA, was the CICA General Director of Research.

This article provides a detailed review of the existing standard-setting process. It notes that: “While the Research Department makes continual efforts to keep the 27,000 CICA members and over 13,000 other subscribers to the CICA Handbook informed on its projects in process, relatively few people appreciate the wide diversity of experience that those responsible bring to bear in the setting of Accounting and Auditing Recommendations, and the care they take in doing so."

"It’s important that those affected by these Recommendations know this background for at least two reasons:

(1) With the advent of the National Securities Administrators’ National Policy 27 and recent corporate legislation, Handbook Recommendations now have “authority” attached to them by federal and provincial government bodies, in addition to the support that has been given to them through the provincial institutes’ / order’s Rules of Professional Conduct.

(2) With the steady increase in the number and complexity of the subjects being dealt with by our research groups and with the resulting increasing demands on the time of volunteer members of these groups, a major study is now to be undertaken to see how our procedures can be improved. After reviewing the following highlight summary of the issues involved, any comments or suggestions you may have on present or prospective procedures and personnel will be very useful to the in-depth review which will be starting shortly.”

(For more information, refer to the CICA Special Committee on Standard-Setting (SCOSS), Report to the CICA Board of Governors on December 19, 1980.)

About the Canadian Institute of Chartered Accountants (CICA)

The Canadian Institute of Chartered Accountants (CICA) will celebrate its 110^th anniversary in 2012. Established in 1902 as the Dominion Association of Chartered Accountants, its goal was to develop the highest professional standards for the young country that was Canada. Now, the CICA is recognized as one of the most influential standard-setters in the world and is a leader in the global effort to create and implement international standards that will allow investors to compare reliable financial information from companies everywhere. The CICA serves the interests of society and the CA profession by providing leadership to uphold the professional integrity, standards and pre-eminence of Canada's Chartered Accountants, nationally and internationally. For an overview of the first 100 years of the CICA’s history, read the article “Setting the standard” in the May 2002 CAmagazine.

Comparing Thoughts on Professional Judgment - 1937 and 1988

“Proficiency in accounting work is largely a matter of experience and judgment; the underlying theory of the science is not particularly profound. The test comes when we attempt to apply the general fundamentals to the infinitely varied and complex situations found in the world of commerce. Factual information and accuracy in its procurement are essential, but its value is submerged unless with it is synchronized the development and training of the judgment...the solution of business problems not only calls for an orderly marshalling of facts, but, what is equally important, careful analysis and logical reasoning from such facts, the formation and establishing of effective conclusions and the exercise of sound judgment.” (This quote is drawn from the article by Kris A. Mapp, FCA, "Educating Our Students - What Is Our Responsibility?" Canadian Chartered Accountant, October 1937, page 258.)

“According to the academic research literature, the exercise of professional judgment by those preparing and auditing financial accounting information is at the core of financial reporting. Without the flexibility and the intelligence provided by professional judgment, the complex system of financial accounting procedures, standards and rules would be ponderous, unresponsive, insensitive: in short, unworkable. Financial reporting, as it operates in Canada and elsewhere, requires professional judgment at many levels, in a host of circumstances, and by a variety of skilled and experienced professionals. In fact, professional judgment is an essential part of financial reporting.” (This quote is drawn from the CICA Research Study, Professional Judgment in Financial Reporting, Michael Gibbins and Alister K. Mason, 1988, page 1.)

Canadian income tax, then and now

It has been almost 40 years since Canada overhauled its tax system, eliminating estate duties and bringing in capital gains tax. Since 1972, we have seen no less than 49 editions of the Income Tax Act. Its length has increased enormously and the complexity exponentially. Changes in technology have aided the Canada Revenue Agency in the selection and audit of taxpayers. Ever-changing legislation, powerful audit tools, information exchange agreements and anti-avoidance rules have made tax planning harder, tax compliance more challenging and tax enforcement easier with key changes over the past 40 years and challenges presented to the accounting profession. (Read the article “Income tax, then and now” in the June-July 2011 issue of CAmagazine online.)

CICA Corporate Reporting Awards celebrate 60 years of excellence

This year marks the diamond anniversary of the Chartered Accountants of Canada’s Corporate Reporting Awards. Since 1941 the program has been centre stage in Canada’s evolution to best practice reporting models.  By providing important recognition for those committed to advancing business reporting, the program has helped drive the development of best practices in financial reporting, corporate governance disclosure, electronic disclosure and sustainable development reporting, all of which are now regarded as essential components of the corporate reporting model. Judging organizations include the Canadian Institute of Chartered Accountants (CICA), PricewaterhouseCoopers, Ernst & Young, Deloitte, International Institute for Sustainable Development, Canadian Investor Relations Institute, and Toronto CFA Society.  (Read the article “Corporate Reporting Awards celebrate 60 years of excellence” in the June-July 2011 issue of CAmagazine online.)

A century of CAmagazine

Small beginnings are no indication of ultimate results,” noted the foreword to the first issue of The Canadian Chartered Accountant in July 1911. Launched from temporary offices in Toronto with the slogan “Of the Profession; by the Profession; for the Profession,” the 32-page quarterly magazine was an effort to knit the far-flung members of the Dominion Association of Chartered Accountants (DACA) into a cohesive fraternity. At the time, there were only seven provincial accounting organizations, with Alberta having formed its institute the previous year. In September 1911 at the national convention in Montreal, the magazine received its first and most important review: “Let it be printed,” members voted. (Read the article “A century of CAmagazine” in the June-July 2011 issue of CAmagazine online.)

CAmagazine - 100-year overview

When The Canadian Chartered Accountant began publishing 100 years ago, editors said its pages would be “open for discussions, for news and for any other purposes tending to bring the members more closely in touch with one another.” Sensibly, they made no claim for how the magazine would strengthen the community and instead focused on reporting and offering insight on events and issues critical to CAs. For a century, the magazine has acted as the profession’s adviser, referee, historian and, occasionally, conscience. The article “100-year overview” in the June-July 2011 issue of CAmagazine celebrates those who built, sustained and helped CAmagazine prosper. Happy birthday!

The Canadian Chartered Accountant – July 1921

On page 1 of this 10^th anniversary issue, a Note by the Publication Committee stated “The Canadian Chartered Accountant enters upon its eleventh year of publication with this issue. Hitherto a quarterly, it becomes, in response to demands from an appreciative constituency, a bi-monthly publication, at however, an increased price, rendered necessary by the steadily advancing costs of everything entering into its make-up, excepting Editorial services and it is felt that the time has arrived when that painstaking and uncomplaining person, the Editor, should be remembered also.”

The Note goes on to say that “Concurrently, it has been decided that no further advertising will be accepted by the Magazine, excepting from the Institutes or affiliated sources, the intention being to preserve its character and limit its use to matters of purely professional and technical interest. Our advertisers during the past ten years are extended our best thanks for the patronage and encouragement they have given us, and we trust that the publicity that the Magazine has given them may not have been wholly without benefit to them. We bespeak the goodwill and assistance of our readers, with the objects of making the Magazine more valuable and interesting, and of enlarging its list of subscribers to the point of being self-sustaining. Nothing beyond that is desired.”

Pages 4-11 of this issue of The Canadian Chartered Accountant include the Dominion Association of Chartered Accountants (DACA, now the Canadian Institute of Chartered Accountants) Act of Incorporation (assented to May 15, 1902), bylaws, List of Past Presidents and Secretaries (1902-1920) and the officers and council for 1920-1921.

(Read The Canadian Chartered Accountant, July 1921. Also, refer to the first edition of The Canadian Chartered Accountant, July1911.)

Tax blast from the past

The total tax bill of the average Canadian family has increased by 1,624% since 1961 — a faster increase than any other single household expenditure — according to a study by the Fraser Institute. In contrast, expenditures on housing increased by 1,198%, food by 559% and clothing by 526% from 1961 to 2009. (See "Tax blast from the past" in CAmagazine online.

CAmagazine - 100th anniversary 1911-2011

This year marks the 100th anniversary of The Canadian Chartered Accountant which was first published in July 1911. The journal was the "Official Organ of the Dominion Association of Chartered Accountants" (now The Canadian Institute of Chartered Accountants). The journal continues to live on as CAmagazine, the leading accounting publication and preferred information source for Canadian chartered accountants (CAs) and financial executives. It provides a forum for discussion and debate on professional, financial and other business issues. The magazine is published in English and French 10 times a year (with combined issues in January/February and June/July) by The Canadian Institute of Chartered Accountants. CAmagazine.com acts as a complement to the print edition, providing web-only articles and news of interest to CAs, digital archives and a search function.

Insolvency then and now

Bankruptcy figures have been climbing. At June 30, 2010, 145,233 Canadians had filed for bankruptcy or a consumer proposal in the previous 12 months. While last year’s figures represent an increase of 33.7%, bankruptcy numbers have grown from less than 1,000 in the 1960s to 2,700 in 1971 and 19,000 in 1980. This has raised the profile for insolvency practitioners in the accounting profession. Read "Insolvency then and now" in the January/February 2011 CAmagazine online.

About the past, present and future of the Internet

It's the year 2000, and the Internet "is making the world a very different place for us," says Canadian Internet expert Jim Carroll. In this January 23, 2000 episode of Mansbridge One on One, Peter Mansbridge interviews Carroll about the past, present and future of the net. The typically optimistic Carroll does express a few fears. He worries the current Internet business boom could soon crash in a big way. "There's something massive going on here, but it doesn't mean we need to throw out our collective sanity." View the interview at CBC Digital Archives. Also read about current perspectives in Jim Carroll's regular column in CAmagazine online.

CICA - Setting the standard

It may come as a surprise to some people that an influential body, such as the Canadian Institute of Chartered Accountants (CICA), had rather inauspicious beginnings. This, however, is what makes its history a matter of prime interest.

The CICA has grown from nothing into a powerful national organization that is consulted by governments – a body with power to set standards that are incorporated into law. Read the article “Setting the standard” in CAmagazine (May 2002).

Canada's tax system - 2020 Vision

What will Canada’s tax system look like 10 years from now? Tax reformists hope to see one that encourages work and fosters productivity and competitiveness. There is no better time than December to look at the year and the decade ahead. CAmagazine asked a range of experts what they think Canada's tax system will look like 10 years from now. To find out what they had to say, see the article "2020 Vision" in the December 2010 CAmagazine online.

CICA - Information Technology Advisory Committee

The Information Technology Advisory Committee (ITAC) of the Canadian Institute of Chartered Accountants (CICA) was established in 1991 by the CICA's Research Studies Department. A four-person committee was set up to help the CICA Studies and Standards Group keep abreast of the potential impact of technological developments on Canadian accounting and auditing standards, practices and methodologies. Throughout the 1990s, ITAC's focus was assisting the auditing profession, since technology had made it possible for auditors to implement procedures not possible previously, because of time constraints and costs. Today, ITAC is made up of representatives from accounting firms, financial institutions, government and academe. They meet four times a year for a one-day meeting and conference calls are scheduled as needed. ITAC’s focus is broader than advising on national accounting and auditing standards (see About ITAC). Notably, it provides advice and prepares guidance on information technology matters affecting the CA profession and the business community (see ITAC Recent Activities and ITAC Publications). A history of ITAC is provided in the CAmagazine article, "Behind the Committee" published in January/February 2004.

Going digital - Canada's CAmagazine

Canada's CAmagazine has an online digital edition. Depending on user preferences and computer system attributes, a reader can choose between the Rich Interactive Digital Edition and the Digital Anywhere version. Digital Anywhere is a high-quality, user-friendly version with interactive features such as Share, Bookmarking and RSS feeds. It also enables readers with older computers to view the full digital edition content. Digital archives are available from April 2009.

The Canadian Chartered Accountant - First Edition, July 1911

The Canadian Chartered Accountant was first published in July 1911. The journal was the "Official Organ of the Dominion Association of Chartered Accountants" (now The Canadian Institute of Chartered Accountants). The editorial (page 16) notes that "At the last Annual Meeting of the Dominion Association, instruction was given in no uncertain tone to the Council for the publication of a journal. This is our excuse for being. Having been born, we shall live so long as any fight remains in us, and we believe that means a long time, and then some." For easy access, a digital version of the First Edition (Vol.1, No. 1) can be viewed below.


The Canadian Chartered Accountant, July 1911 -

Almost 100 years have passed and the journal continues to live on as CAmagazine. CAmagazine is the leading accounting publication and preferred information source for Canadian chartered accountants (CAs) and financial executives. It provides a forum for discussion and debate on professional, financial and other business issues. The magazine is published in English and French 10 times a year (with combined issues in January/February and June/July) by The Canadian Institute of Chartered Accountants. CAmagazine.com acts as a complement to the print edition, providing web-only articles and news of interest to CAs, digital archives and a search function.