Celebrating legends of the profession

“Accountants will save the world.” Powerful words were spoken by Kevin Dancey while contemplating his 2024 Canadian Accounting Hall of Fame (CAHF) induction for an illustrious career. That career includes notable highs such as being CEO and senior partner of PwC Canada, president and CEO of CICA, and the first president and CEO of CPA Canada—who aided in the merger of the three legacy accounting designations. On June 14, the Canadian Academic Accounting Association hosted their annual conference, where eight outstanding CPAs (including Dancey) were inducted. The ceremony is as much of a recognition of the older guard as it is a celebration of the profession and assurance to prospective CPAs that they’re making the right choice in their career path. 

The CAHF, formed in 2020 and hosted by the Canadian Academic Accounting Association (CAAA), honours accountants who have brought significant national distinction to the profession. Overall, 35 Canadians have been elected and split into two categories—12 founders, who played a major role in establishing the profession in Canada, and 23 leaders, who made extraordinary contributions to the profession's progress. 

Ron Salole, director of the CAHF, explains that the board of directors at CAAA decided to create their own hall of fame as a response to that of the American Accounting Association, which focuses solely on U.S. inductees now (despite having honoured four Canadian accountants, who have been grandfathered into the CAHF). “It gives us a great opportunity to ensure that appropriate recognition is given to the outstanding work being done by members, by accountants in the profession for Canadian society,” says Salole. He expresses great pride in this year’s ceremony and inductees, as it’s his first after taking over the role of director from Alister K. Mason, the inaugural director.  

“I think the eight inductees this year are exemplary of those qualities. Harold Calla, our first Indigenous inductee, has an incredible track record for what he’s been able to do for Indigenous people in terms of reconciliation and economic activity,” Salole says of the prodigious 2024 inductee. Calla’s storied career traces back to 1977, when he obtained his CGA designation and would go on to lay the foundations which led to four First Nations institutions. He also contributed to Canada’s implementation of the United Nations Declaration on the Rights of Indigenous Peoples (including self-determination).  

In terms of trailblazing, Janet Cosier—an inductee falling into the leader category—has broken several glass ceilings. During her 33-year career with the Bank of Canada, she was the first woman to hold the offices of chief financial officer, chief of internal audit and chief risk officer. Cosier also participated in the Bank’s international technical assistance program, where she “was able to help other central banks around the world [including Turkey, Chile, Malaysia and Morocco] actually implement new systems. That was really a wonderful opportunity for me, not only to develop and design for the Bank of Canada, but then share that knowledge and expertise in other central banks,” Cosier says, reminiscing fondly on her accomplishments.  

While deeply honoured and grateful to the association for the recognition, Cosier also takes a moment to reflect on the widespread importance of the profession going forward. “The skill set is crucial in terms of budgeting, performance management and risk management. It encompasses a lot of different areas where I think CPAs can stand tall and make a contribution,” says Cosier. 

With that perspective in mind, the words “accountants will save the world” from Kevin Dancey seem more plausible. The phrase actually echoes a speech from World Business Council for Sustainable Development CEO Peter Bakker at the United Nations Conference on Sustainable Development in 2012 where he first made the bold statement that accountants will save the world. Dancey adds that “the perhaps arrogant, perhaps trite, perhaps overstated expression means all the skill sets and competencies and expertise that professional accountants bring to the table are really needed…for society to navigate forward.” As businesses and society in general grapple with the ramifications of widespread misinformation, Dancey argues that it will be professional accountants who should be at the centre of all the major decision-making going forward. 

“Good decisions need good leadership,” says Dancey, “and there are lots of reasons why professional accountants should adopt leadership roles in these areas going forward.” Dancey urges students to carry on their journey toward accountancy, saying, “If you’re a student and you really want to make a difference, becoming a professional accountant is a great way to go. It’s not just a bean counter. It’s a much higher professional role where their competencies can be brought to bear to solve problems, which is key going forward.” 

Even with an inductee list of many prominent figures in Canadian accountancy, Salole has set some goals for the next CAHF ceremony slated to be held in Toronto in 2025. “My mission this year is to make sure we have more women and Francophones nominated. We’ve got to make sure that we recognize the whole of the population,” says Salole. 

Nominations for 2025 are invited. The due date for nominations is Nov. 8, 2024. Guidance on the call and procedure for nominations is available here.