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May 22, 2007
Proposed Bylaw Revisions for 2007
The proposed Bylaw revisions for 2007 will be voted on at the Institute's Annual General Meeting on June 14, 2007.
FIRST BYLAW OF 2007
- Explanatory Note: Rule of Professional Conduct 409 is amended to specifically provide that members may practice public accounting in corporate form. When legislation governing professional incorporation of public accounting practices was passed several years ago, the bylaws were amended, however, amendments to the rules of professional conduct were inadvertently omitted. That oversight has been corrected with this proposed amendment.
(End of First Bylaw of 2007)
- Click here for a clean copy of the proposed final wording of the first Bylaw of 2007.
SECOND BYLAW OF 2007
- Explanatory Note: Council Interpretation 215/9 is amended to correct a reference to Rule 204 for a definition of "partner" that should have been revised when the new independence rules were introduced several years ago. That oversight has been corrected with this proposed amendment.
(End of Second Bylaw of 2007)
- Click here for a clean copy of the proposed final wording of the second Bylaw of 2007.
THIRD BYLAW OF 2007
- Explanatory Note: Bylaw 901(6) is amended to remove a reference to financial hardship as a specific special circumstance which may result in an exemption from minimum CPD requirements. Discretion continues to rest with the Membership Committee to provide exemptions from minimum CPD requirements as special circumstance warrant.
(End of Third Bylaw of 2007)
- Click here for a clean copy of the proposed final wording of the third Bylaw of 2007.
In addition to the proposed amendments outlined above, Council has approved revisions to the published continuing professional development guidelines to assist members in determining whether they are specifically exempt from minimum CPD requirements. These amendments do not require member approval and include the extension of exemptions for caregiver and medical leave beyond one year in certain circumstances. In these circumstances, members must submit a plan to the Institute to develop the necessary competencies to re-enter the workforce and complete the plan within a reasonable timeframe.
- Click here for a copy of the guidelines Council has approved.
FOURTH BYLAW OF 2007
- Explanatory Note: Bylaws 400 - 457, Regulations 4701 - 4902 and Bylaw 380 are amended to implement recommendations to establish new practical experience requirements. These new requirements would provide students with limited opportunities to complete practical experience requirements outside of traditional training in assurance services only. In addition, it includes some amendments of a housekeeping nature to reflect the evolving roles of the CA School of Business and the Institute.
(End of Fourth Bylaw of 2007)
- Click here for a clean copy of the proposed final wording of the fourth Bylaw of 2007.
(End of Proposed Bylaw Revisions for 2007)
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