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Accounting and Auditing Activities of the Ontario Securities Commission, 1960s to 2008 Part 3: The Fifth Chief Accountant, 1996–2008

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  • Stephen A. Zeff
  • Vaughan Radcliffe
  • Sally Gunz

Abstract

We present Part 3 of a historical review and analysis of the role played by the Ontario Securities Commission (OSC) in accounting and auditing from the 1960s onward. Part 1 dealt with the period from the 1960s to 1985 (Zeff and Radcliffe, 2010a). Part 2 reviewed the work of the first four chief accountants, from 1986 to 1996 (Zeff and Radcliffe, 2010b). This third and final part reviews the work of the fifth chief accountant, John A. Carchrae, from 1996 to 2008. It began with the reorganization of the OSC and the reassignment of functions. The chief accountant position was now that of a permanent employee, albeit still as head of a very small department. The second part of Carchrae's tenure was dominated by the need to respond to the financial crises of the early 21st century with extensive regulatory change as well as addressing the shift to international accounting standards in Canada. Résumé Les auteurs présentent la troisième partie d'un survol historique et d'une analyse du rôle joué par la Commission des valeurs mobilières de l'Ontario (CVMO) dans la comptabilité et l'audit, à partir des années 1960. La première partie de ce survol portait sur la période allant des années 1960 à l'année 1985 (Zeff and Radcliffe, 2010a). Dans la deuxième partie, les auteurs passaient en revue le travail des quatre premiers chefs comptables, de 1986 à 1996 (Zeff and Radcliffe, 2010b). Dans cette troisième et dernière partie, ils se penchent sur le travail du cinquième chef comptable, John A. Carchrae, de 1996 à 2008. Cette période s'amorce avec la réorganisation de la CVMO et la redistribution des fonctions. Le poste de chef comptable sera désormais un poste permanent, bien que son titulaire soit à la tête d'un très modeste service. Dans le second volet de son mandat, John Carchrae a été accaparé par la nécessité de réagir aux crises financières du début du XXIe siècle en procédant à d'importantes modifications de la réglementation et par la conversion aux normes comptables internationales au Canada.

Suggested Citation

  • Stephen A. Zeff & Vaughan Radcliffe & Sally Gunz, 2014. "Accounting and Auditing Activities of the Ontario Securities Commission, 1960s to 2008 Part 3: The Fifth Chief Accountant, 1996–2008," Accounting Perspectives, John Wiley & Sons, vol. 13(4), pages 223-252, December.
    • Handle: RePEc:wly:accper:v:13:y:2014:i:4:p:223-252
    DOI: 10.1111/1911-3838.12035
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