Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 47 - Minutes

OTTAWA, Wednesday, June 12, 2002
(51)

[English]

The Standing Committee on Banking, Trade and Commerce met at 4:00 p.m. this day, in room 505, Victoria Building, the Chair, the Honourable Senator Kolber, presiding.

Members of the committee present: The Honourable Senators Biron, Fitzpatrick, Kelleher, P.C., Kolber, Kroft, Mahovlich, Meighen, Oliver and Setlakwe (9).

In attendance: From the Parliamentary Research Branch, Library of Parliament, Economic Division: Mr. Alexandre Laurin, Research Officer.

Also in attendance: The official reporters of the Senate.

Pursuant to the Order of Reference adopted by the Senate on Tuesday, March 20, 2001, the committee resumed its examination into the present state of the domestic and international financial system. (See Issue No. 6, March 28, 2001, for full text of the Order of Reference.)

WITNESSES:

From the Canadian Institute of Chartered Accountants:

Mr. David Smith, FCA, President and Chief Executive Officer;

Mr. Gérard Caron, FCA, President and Chief Executive Officer and Secretary General, Ordre des comptables agréés du Québec;

Mr. Brian Hunt, FCA, President and Chief Executive Officer, Institute of Chartered Accountants of Ontario.

From the Accounting Standards Oversight Council:

Mr. T.I.A. (Thomas) Allen, Chairman;

Mr. Paul Cherry, Chair, Accounting Standards Board.

Messrs Smith, Caron and Hunt made a statement and answered questions.

Messrs Allen and Cherry made a statement and answered questions.

At 6:35 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Denis Robert

Clerk of the Committee