Opening Keynote: Fotini Iconomopoulos, Negotiation | Commercial Strategy | Communication & Leadership Coaching

Topic: Say Less, Get More – Negotiating a Better Life

Whether you are leader in a company, a team or yourself, the power of negotiation is all about communicating persuasively. Today’s workforce follows leaders who are able to persuade and inspire them to go along with their ideas based on understanding and trust. So, how can you make your voice stand out as someone with whom people want to engage? Become more influential day-to-day, and start achieving the results you want? Through interactive keynote followed by Q&A, expert communicator Fotini Iconomopoulos shares the principles of persuasion and negotiation, shows audiences how to use them to become the kind of leader that people want to follow. For small and medium sized businesses, conflict comes up on the daily but you can get ahead of it and manage it carefully whether it’s with the client or your team. Learn to use these skills in quick transactional conversations as well as long-standing relationships to maximize value for all.

Key Takeaways: 

• Understand the power of pause.
• Gain new perspectives on the likability equation and how to leverage it quickly.
• Learn simple ways to communicate what you want more effectively--without backlash.
• Discover new motivation and confidence for preventing and managing conflict successfully.

Session 1: Kirsten S. Albo, FCPA, FCA, ICD.D. Founder ASK, KSA Consulting Inc.

Topic: CSQM 1 Next Steps: Monitoring, Remediating and Evaluating

Most firms have designed and implemented their system of quality management in accordance with the requirements of CSQM 1, but the journey does not end there. The standard also requires a firm to perform monitoring activities, remediate identified deficiencies, and evaluate its system of quality management. This session will use practical examples to provide valuable insights into establishing an effective approach for implementing these next steps of the standard.

Key Takeaways:

• Understand the importance of ongoing monitoring and its link to quality risks.
• Gain insights into the process of selecting effective monitoring activities.
• Learn how to establish a straightforward and practical process for identifying and remediating deficiencies.

Session 2: Babar Khan, Board Member | Instructor | Cross Border Tax Professional | Tech Startups | CPA - USA & Canada | Deloitte Canada | University of Oxford

Topic: Exploring ASPE Treatment of Tax Vehicles – 3840 and 3856 Financial Instruments

The session will take an in-depth look at the Accounting for financial instruments under Accounting Standards for Private Enterprises (ASPE), Section 3856, Financial Instruments, for private corporations. The session will start with an overview of the purpose and scope of standard, including different types of financial instruments and definitions. The session will then discuss the recognition, measurement, presentation, derecognition, and disclosure requirements. The session will also touch upon other issues such as Retractable or Mandatorily Redeemable Shares Issued in a Tax Planning Arrangement and those with related parties. This session will leverage various examples to explain the concepts.

Key Takeaways:

• The Accounting for financial instruments under Section 3856, Financial Instruments.
• Section 3856 requirements, including recognition, classification & measurement, derecognition and disclosures, for both arm’s length and related party transactions.
• Various measurement methods and their impact on financial statements.
• When financial assets and financial liabilities are offset.
• When hedge accounting may be applied.

Session 3: Manu Kakkar, CPA, MTax, TEP, B.Sc.(Hons), President And Nadia Rusak, Canadian and International Tax Lawyer

Topic: Fire-side Chat Discussion – Best Practices to Avoid Lawsuits & Successfully Deal with Clients’ Allegations

Tax authorities have become increasingly aggressive in auditing taxpayers and challenging tax planning arrangements, even plans that are commonly considered standard. Targets of these audits include SMEs, family-owned businesses, estates and individuals. The tax authorities are testing the limits of their audit powers by demanding interviews of management employees and making broad requests for information and documentation. Further, there has been a significant increase in litigation activity, where tax authorities are denying objections and bringing more and more cases to court. This put taxpayers to the task of having to defend their structures at both the audit and reassessment levels.

This presentation will focus on various aspects of audit, reassessment and objection process by identifying high-risk audit areas and exploring strategies to successfully defend a tax plan and avert potential litigation. The discussion will cover challenges commonly seen in “plain vanilla” structures, such as estate freezes, QSBC planning, purification mechanisms and trusts.

Key Takeaways:

• When there are numerical calculations to be done as mandated by the Income Tax Act, don't take shortcuts and do them properly.
• Always confirm facts in writing with the client or get the original source document to validate the fact.
• When you are doing any type of tax planning it is important to stay current with the rules and not rely on stale tax knowledge to do current tax planning.

Session 4: Julie Ruben Rodney, Founder & CEO of MaxPeople

Topic: Enhancing Your Leadership in a Multi-Generational Workplace

In today's diverse workforce, effective leadership requires an understanding of the unique perspectives and needs of different generations. This one-hour session will equip finance leaders from small to mid-sized practices with the skills to lead across generational characteristics while emphasizing the importance of avoiding stereotypes. Participants will learn how to recognize and address individual motivators and needs, fostering an inclusive and producitve work environment, regardless of generational differences.

Key Takeaways

• Reflect on Your Leadership Style: Analyze your leadership style based on your generation, personality, and experiences.
• Understand Generational Insights While Avoiding Bias & Stereotypes: Gain knowledge about the characteristics of different generations and learn to use these insights without stereotyping.
• Identify Individual Motivators and Needs: Recognize and address the unique motivators and needs of each team member, ensuring a personalized approach to leadership.

Session 5: Narbe Alexandrian, CPA, CA, Founder & CEO @ Define Capital | Software Private Equity | Entrepreneur | Adjunct Professor @ Schulich | Advisor

Topic: AI for Staff Shortages

This engaging and timely session will cover current staffing challenges in the CPA Profession and provide an overview of staffing shortages and contributing factors. Through case studies and success stories, you will hear real-world examples of successful AI integration in accounting firms.

Key Takeaways:

• AI technologies relevant to staffing solutions: an introduction to AI tools like machine learning, natural language processing, and robotic process automation.
• How to implement AI to address staffing shortages: practical steps for automating tasks, enhancing recruitment, and upskilling employees.
• Look at future trends and ethical considerations: emerging AI trends, long-term impacts on the profession, and ethical challenges.

Closing Keynote: Dr. Nick Bontis, Professional Keynote Speaker | Award-winning Business Professor | Professor of Strategy, McMaster U

Topic: Work Smarter Instead of Harder

Information bombardment is the single most damaging threat to your productivity — but, it doesn’t have to be that way. This enlightening and action-packed presentation will transform the challenge of information bombardment into a sustainable competitive advantage for yourself, and level up your leadership by working smarter instead of harder.

Key Takeaways:

• How to cope with information bombardment.
• How to improve your ability to manage change.
• How to boost productivity and efficiency.
• How to speed up innovation through collaboration.
• How to determine what leadership action you can take tomorrow.

Opening Keynote: Jane Bowen, FCPA, FCA, Associate Teaching Professor Accounting

Topic: Demystifying CAS 315 Revised with a focus on IT Obligations – Appendix 5 and 6

Understanding your clients’ business, including their technology is critical in a risk-based audit.  We have applied the revised CAS 315, Identifying and Assessing the Risks of Material Misstatement, to many files now, and its application is improving. This session will look to demystify the implications of technology on the risk assessment process by discussing “why the understanding of our clients’ information technology is important”.

With a focus on less complex entities which have less complex IT systems, you will come away with a better understanding of the expectations of CAS 315 related to information technology and its implications on the risk assessment phase of your audits.

Key Takeaways:

• What do we need to understand about the entity, including its information technology to identify the risks for material misstatement?
• What are the risks arising from the use of technology? 
• Is it possible that I may need to rely on the technology if evidence is not available using a fully substantive approach?
• How do the Appendices in CAS 315 help me meet the requirements of CAS 315?

Session 1: Danielle MacLeod, Associate Director of AcSB

Topic: Application of Accounting Standards and Professional Judgement

This session will feature an introductory video from Armand Capisciolto, Chair of AcSB.

The application of principled-based accounting standards requires professional judgement.  This session will cover how the AcSB considers professional judgment in writing standards and how you should interpret the standards in coming to your own conclusions.

Key Takeaways:

• Comparability does not equal uniformity, and therefore not all diversity is bad.
• How the AcSB considers the need for additional guidance.
• How small and medium sized practitioners can contribute to the standard setting process.

Session 2: Jay Goodis, CPA, CA, CEO & Co-Founder of Tax Templates Inc.

Topic: Canadian Tax Update

In this session, Jay Goodis, CEO of Tax Templates Inc., will provide an update on the major Canadian tax changes in 2024 and their impacts on Canadian Controlled Private Corporations (CCPCs) and Canadian individual taxpayers. Jay will discuss the changes, their impacts, and tax planning strategies resulting from major changes such as the capital gains inclusion rate, the changes to the Alternative Minimum Tax, the Capital gains exemption increase, and more. Other critical changes in Federal and provincial budgets may be discussed along with recommendations for year-end remuneration strategies.

By the end of this session, attendees will be equipped with the knowledge of the changes to these key tax calculations, be able to navigate the complexities of the updated tax landscape effectively and advise their clients or manage their affairs with enhanced expertise.

Key Takeaways:

• Impacts to individuals and corporations from the change in the capital gains inclusion rate from one half to two thirds.
• Resulting changes to the Capital Dividend Account and the NERDTOH account.
• Optimization of salaries, dividends, and capital gains.
• Tax planning recommendations in 2024 and leading into 2025.

Session 3: Jennifer Chowhan, Partner at Millard, Rouse & Rosebrugh LLP; Tiffiny Stewart, CPA, CMA| #TechNerd | Board Member | Advanced certified QBO & QBD; Gerry Anderson, CPA, President at Blue Canyon CPA

Topic: Automation and Technology Solutions for SMPs – Panel Discussion

Key Takeaways:

• Technology and automation solutions are accessible to SMPs.
• Technology and automation solutions can help us improve quality and more efficiently provide assurance and compilation engagements, client accounting and tax services.
• Best practices and experiences in implementing technology and automation solutions.

Session 4: Michael Kulbak, MBA, CPA, CMA, Trust and Estate Professional

Topic: Preparation For the Future - Succession Planning For Accounting Professionals

Financial and legal professionals are in the midst of adopting the regulatory requirement that licensees in private practice must institute a client contingency plan for their professional practice. Eventually, this global and regional initiative will be a requirement for Canadian based accounting practitioners.

This session will outline succession planning criteria and strategies to contemplate. It will specify items you should consider in your Power of Attorney document and will. Succession preparedness can be a key strategic advantage for your firm and for practitioners in achieving their retirement and estate planning objectives.

Key Takeaways:

• Understanding succession planning and valuation.
• Succession and operational readiness - planned vs. unplanned scenarios.
• Client relationship and transition plans.
• Legal, tax and regulatory documentation to have on hand.

Closing Keynote: Linda Edgecombe, Keynote Speaker, Resiliency Expert, and Motivational Coach

Topic: Get Ready to Shift or Get Off the Pot

Learn how to become a change enthusiast in ever changing times.

Drawing from one of her bestselling books, SHIFT...Or Get Off the Pot: 26 Simple Truths About Getting a Life, Linda Edgecombe shares ideas and solutions for “getting a life.”

This eye-opening keynote presentation gets audiences thinking about three simple but life-changing questions:

1. Are you doing the best you can?
2. Are you on the deferred life plan?
3. When was the last time you did something for the first time?