If you were at ONE, Canada’s biggest CPA event of 2018 you learned a lot! You were among thousands of CPAs who are creating an impact on business, accounting and finance. The theme was sustainability through adaptability. With the rise of globalization, new technologies, and increasing impact on environmental, social, and political issues, your ability to adapt and help organizations stay ahead of change makes you an invaluable asset.
Here are some thoughts from ONE
1) Leading A Change-Ready Organization
Jennifer Gervès-Keen, Consultant, JGK Consulting, talked about how artificial intelligence, the Internet of Things, and machine learning have the potential to impact organizations and the people who work there. To implement new ideas and initiatives, employees and teams must be adaptable and willing to embrace rapid and constant change. Gervès-Keen provided insight into how the brain processes change and how you can help your employees be resilient while strengthening and sustaining a proactive organizational culture.
2) Small to Large Private Business: What’s YOUR Exit Strategy?
Nikki Robar, Partner, PWC; Peggy Gates-Hammond, Director, Tax Planning, BMO Wealth Management; and Natalie Woodbury, Partner, BOYNECLARKE LLP, discussed how many entrepreneurs effectively manage today without planning for tomorrow. Because most entrepreneurs eventually will hand over their business to a family member, sell it to an employee or third party, or enter into a combination of options, they need to develop a plan for considering opportunities as they arise to smoothly move through the transition. The panel of speakers shared tips on developing a strategy and planning and executing a successful transition while adding value to the bottom line.
3) Internal Audit — The Shift from Compliance to Trusted Advisor
Andrea Coish, Partner, Advisory, KPMG; Mark Bradbury, Board Member and Audit Committee Chair, College of the North Atlantic and Memorial University of Newfoundland, Formerly Nalcor Energy, Corporate Treasurer and Chief Risk Officer; and Leo D. McKenna, Chief Financial Officer, Workers’ Compensation Board of Nova Scotia, shared ideas on how management and audit committees can stay current on changes in the risks that organizations face daily and proactively manage them while respecting their roles within an entity’s governance structure. Although the internal audit function has historically been viewed as a compliance function that performs tests and reports errors and weaknesses in the organization, tensions can arise among roles that lack a well-defined reporting and accountability model. Increasing complexity in risks and management process brings an increasing need for the role of internal audit as a trusted advisor within a well-functioning governance structure. The panel of speakers shared their experiences and thoughts on going from the compliance function to being a trusted advisor.
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