In September, The Institute's Council endorsed proposed changes to the Rules of Professional Conduct (RPC) and Council Interpretations (CI) regarding Auditor Independence (Rule 204) and Compliance with Professional Standards (Rule 206). The Councils of the other Provincial Institutes across the country have also endorsed the proposed changes and their members will be asked to approve the amendments as well.
A Special General Meeting has been called for November 27, 2003 at 4:30 pm at The Fairmont Hotel in Winnipeg to allow the general membership to vote on these two amendments. A proxy ballot will be mailed to all members in November to enable those members who cannot attend the meeting to cast their votes. Please watch your mail for the proxy ballot in the next few weeks.
The proposals do not fundamentally change the existing principles upon which the RPC and CI are based, but there are changes to some of the terminology as well as to the approach to assessing independence (rule 204) and member's obligations related to compliance with standards (rule 206). Please take the opportunity to attend the meetings in order to become familiar with and discuss the proposals in advance of casting your vote.
These proposals are an important part of the profession's strategy to restore public confidence, not only in the capital markets, but also in our profession. Your vote is important.
The following "town hall" meetings have been scheduled to provide members an opportunity to review and discuss both of the proposed amendments:
Winnipeg Fairmont Hotel Tuesday, October 28 4:00 pm
Winnipeg Fairmont Hotel Monday, November 10 4:00 pm
Brandon Victoria Inn Thursday, November 6 12:00 noon
If you plan to attend, please advise Michelle Marion by phone or email the Institute. For those members planning to attend the Brandon meeting, a nominal fee to cover the cost of a luncheon will be charged. Registration forms for the Brandon meeting and luncheon will be provided upon contacting Michelle.
In addition, a conference call is scheduled for Monday, November 17 at 11:30 am to allow those members who are unable to attend a "town hall" meeting to review and discuss the proposals. In order to participate in the conference call, please register with Michelle at the Institute by November 13. Information on accessing the conference call will be forwarded to those who register.
Finally, you may contact Shirley Sommer at the Institute with comments or questions. She can be reached by phone, fax or Email Shirley Sommer, CA.
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