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REF NO.: 166

SUBJECT: Chartered accountants and Faculty of Business Administration launch strategic partnership
DATE: May 25, 2009

The Chartered Accountants’ Education Foundation of Newfoundland joined with Memorial University’s Faculty of Business Administration today to strengthen its ties to the faculty and significantly enhance its support for students who wish to pursue a chartered accountancy designation. 
A memorandum of understanding signed by both parties marks a step forward in preparing Memorial business students to become well-integrated members of the business community in their role as chartered accountants, and helps ensure their education is grounded in methods that meet today’s industry standards.
“The Chartered Accountants’ Education Foundation has long been involved with Memorial University as it prepares graduates to take the CA program,” said Sharon Forsey, chair of the foundation. “Both parties have benefited from this partnership that has allowed for a sharing of expertise between practicing CAs in Newfoundland and Labrador and business students. Today’s announcement cements that relationship and improves the way forward at both a strategic and operational level.”
Ms. Forsey said funding support from the foundation establishes a program intended to facilitate competency-based accounting education at both the undergraduate and graduate levels. This program will help students make links between their formal education and the workplace. Ms. Forsey said the university will also engage in an annual lecture series which will see leading professional experts presenting on competency-based accounting education.
“The Faculty of Business Administration works diligently to ensure our students participate in and have access to first-rate learning experiences,” said Dr. Gary Gorman, dean of the faculty. “Our relationship with the Chartered Accountants’ Education Foundation is a good example of how we can partner with the business community to further enhance our existing programming, in this instance to the benefit of our accounting students.” Dr. Gorman said the combined efforts of both parties will add valuable resources and support for students who are interested in pursuing their chartered accountancy designation.
The foundation will also support SIFE (Students in Free Enterprise) Memorial in its efforts to aid war veterans in pursuing their entrepreneurial dreams, among other student initiatives and scholarships.
 “Business students are very fortunate to have such strong support from the Chartered Accountants’ Education Foundation,” said SIFE Memorial president MaryBeth Handrigan. Their support of our Based in Business program is invaluable for both veterans and students. The guidance offered by chartered accountants in this province is also particularly meaningful to students like myself who are pursuing their CA designation.”
The $350,000 funding commitment over 10 years begins this month. 
The Chartered Accountants’ Education Foundation of Newfoundland promotes excellence in accounting by providing education resources. It is a charitable foundation established by the Institute of Chartered Accountants of Newfoundland and Labrador.

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