04 Dec 2013

Success in the Uniform Evaluation (UFE) is an important step in the professional life of a Chartered Professional Accountant. While the names of those who pass the evaluation are widely publicized, we know little about the people who supported them throughout their studies: their mentors and the workshop facilitators.

At Raymond Chabot Grant Thornton, many mentors and facilitators ensure that this pivotal step goes smoothly for the interns. Starting in the beginning of Summer, they help them overcome the obstacles that may arise during their studies leading to the UFE.

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Patrick Jean

One of them is Patrick Jean, Assurance Manager in Montreal: “I help the interns for the pleasure of giving back what I received,” he explains. Jean passed the UFE barely three years ago. Starting late July, he contacted his protégé to ask her about the progress of her studies. In the course of their meeting, Patrick gave her advice and reminded her of the importance of balance. “You have to study seriously, of course, but also take time to have fun,” Patrick adds.

Maxime Nadeau, a supervisor at the Sherbrooke office, supported two interns. This assistance translated into the development of a study schedule, modulated to each intern’s strengths and weaknesses, and moral support. “Mentoring interns was a wonderful experience, which allowed me to develop a close working relationship with them,” says Nadeau, who passed the UFE in 2012. He enjoyed the experience so much, he would like to repeat it next year.

Sébastien Paquin, auditor at our Montreal office, facilitated stress management workshops. “The interns are able to overcome the UFE, if only due to their experience at the Firm. With these workshops, we teach them how to deflate the balloon of anticipation,” he explains. Paquin personally experienced the turmoil of the UFE in 2011.

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Jean Morissette

Jean Morissette, Partner at the Quebec City office, has facilitated workshops on accounting standards for the past eight years. Why does he do it? Because he likes accounting standards and teaching… but not so much that he would make a career of it, he hastens to point out. He adds: “I find it very stimulating to coach these interns at such an important moment in their lives.”

This is clear proof that at RCGT, success depends on teamwork, but also on heart.

We warmly thank all the people who mentored interns, listened to their concerns or facilitated workshops: there are many of them, and they aren’t all named in this article. Your contribution made all the difference..

 

 

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29 Nov 2013

It is today (November 29) that the results of the Uniform Evaluation CPA, CA path (UFE) for the 2013 chartered professional accountants—the entrance requirements for the accounting profession in Canada—were made public.

To draw attention on the exemplary success and determination of our 69 candidates who successfully passed this rigorous professional evaluation, Raymond Chabot Grant Thornton will publish an advertisement in the magazine Les Affaires (December 7th edition).

See the premiere of the UFE ad (in French)

UFE: A Candidate from Raymond Chabot Grant Thornton on CICA’s Honour Roll

Among the 50 candidates who earned a place on the UFE Honour Roll of the Canadian Institute of Chartered Accountants (CICA), which recognizes the highest standings in Canada, one is a candidate from our firm: Benjamin Scharfe from the Ottawa office! On behalf of all the associates and employees, we’d like to extend our sincere congratulations for these exceptional results which certainly foreshadow a promising future!

Congratulations to everyone and hope you have a great career with us!

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29 Nov 2013

Montréal, November 29, 2013 – Raymond Chabot Grant Thornton ordered an exclusive CROP survey conducted between October 11 and 25, 2013, which confirms the serious concerns that entrepreneurs have regarding the dire consequences on the economy of the shortage of the business succession. Entrepreneurs are sounding the alarm, as 94% consider that the lack of successors within SMEs will be a major detriment to Quebec’s economic growth.

The survey is innovative in that it establishes a correlation between the enterprise transfer challenge and its direct impact on Quebec’s economic and social development.

“In a context where entrepreneurship remains our economy’s key development lever, we have every reason to be worried. For more than 65 years, our Firm has been at the heart of local dynamic business growth, and we are concerned about succession and business transfer issues. This is why we have given a voice to Quebec entrepreneurs in order to better grasp the extent of their concerns in this area. The challenge is complex and requires everyone’s collaboration in such a way as to promote the sustainability of our businesses. This is why we are calling for mobilization,” said President and CEO, Emilio B. Imbriglio.

The future of SMEs in Quebec’s various regions

The survey also revealed that 90% of entrepreneurs estimate that the shortage of successors will entail negative consequences on the vitality of the economy and employment across Quebec. In Quebec, where 90% of the economic fabric consists of SMEs generating more than 50% of the GDP and close to 60% of jobs, ensuring the effective succession of business managers is no longer a choice but a priority for our economy’s growth.

“The retirement of baby-boomers will put much pressure on entrepreneurship. If, because of the shortage of successors several businesses shut down in the short term, the vitality of Quebec’s cities and villages will decline, and the quality of life of their citizens will be affected,” added Éric Dufour, Partner and National business transfer leader.

Additionally, the survey confirms the trend observed by the Fondation de l’entrepreneurship, where 30% of business owners are considering retiring within the next 10 years, and half of them are expecting to close down permanently without seeking to sell their business or transfer it to the next generation. The fear of these businesses disappearing is real. For people thinking of going into business, buying a business is much less attractive than creating one of their own.

If the trend continues, current owners will have no other choice but to shut down or sell to strangers. To prevent relocation and ensure that thriving local businesses remain controlled by Quebeckers, Raymond Chabot Grant Thornton believes that certain tax laws must be amended so that the capital gain is no longer considered as a dividend when a business is transferred to family members.

This survey is an opportunity to once again inform governments of the importance of taking action to re-establish fairness in our tax system. Unfortunately, it is more beneficial in tax terms to sell a business to a stranger than to a business owned by one’s own children. Current provisions can make the seller miss out on the $750,000 capital gain deduction ($800,000 as of 2014).

Mobilization towards a strong and prosperous Quebec

Everyone has a role to play in encouraging business succession. It is not only a government issue. The survey revealed that 37% of SME owners and managers believe that they have a responsibility along with the government to ensure Quebec’s economic growth and competitiveness.
When entrepreneurs are surveyed, they mentioned they would prefer having a professional to coach them on their transfer and would appreciate government support. In this respect, 55% of respondents have the impression that the succession is not a priority for the Quebec government, and 82% are unaware of the actions taken by the government with respect to business transfers in the last two years.

“This is why Raymond Chabot Grant Thornton is calling for mobilization to ensure the sustainability of our businesses. We need to better equip and inform our entrepreneurs to facilitate and encourage business transfers. To take on this collective challenge, we are proud to have used our expertise to develop a unique integrated approach using several specialists that takes into consideration all transfer-related issues, be they tax, strategy, human or financial. We believe that by working with entrepreneurs to avoid business closures we will be contributing to growing our economy’s competitiveness and innovation”, concluded Mr. Dufour.

The complete survey results can be found here: rcgt.com/transfert-entreprise. Business succession experts are also available for interviews.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,400 people, including some 230 partners in more than 100 offices in Quebec, eastern Ontario and New Brunswick. For over 30 years, Raymond Chabot Grant Thornton has been a member of Grant Thornton International Ltd, providing clients with the expertise of the member and correspondent firms in more than 100 countries.

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Information:

Marie-Eve Dutremble Sarazin
Consultant – Business Development
Raymond Chabot Grant Thornton
Tel.: 514-878-2691
Cell.: 514-923-7472
[email protected]
www.rcgt.com

Source:

Francis Letendre
Senior Consultant – Public Relations
Raymond Chabot Grant Thornton
Tel.: 514-390-4201
Cell. : 514-554-1685
[email protected]
www.rcgt.com

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27 Nov 2013
Rémi Fortin

Rémi Fortin

On November 21, École d’entrepreneurship de Beauce was the setting for the third edition of the prestigious cocktail dinner, held to benefit Fondation jeunesse Chaudière-Appalaches. Serving as honorary chair of the event was Rémi Fortin, partner at the Saint-Georges and Saint-Ephrem office.

Mr. Fortin spoke to the newspaper L’Éclaireur Progrès about his involvement: “I have already noticed the benefits of this activity, where participants can also do networking. From birth, children do not all have the same status or similar realities. They must be given a helping hand so they can take their place in society.”

About 120 business people from the region took part in this event, which raised $13,700 to support youth at risk.

For more details about our partner’s commitment to this case, see the following articles (in French only):

  • L’Éclaireur Progrès (October 2, 2013)
  • Centre Jeunesse Chaudière-Appalaches (October 2, 2013)
  • En Beauce.com (November 22, 2013)
  • Radio COOL 103,5 (November 23, 2013)