George A. Ormsby Chartered Accountant

GEORGE A. ORMSBY

CHARTERED ACCOUNTANT

1083 Britannia Road East, Mississauga, OntarioCanada, L4W 3X1

Tel: (905) 670-8890

Fax: (905) 670-8891

Company Profile

CHARTERED ACCOUNTANCY

In Canada, a Chartered Accountant is a person who has acquired the skills and knowledge enabling him or her to pass an examination which is set uniformly throughout Canada. The overall process of becoming a Chartered Accountant involves working as a student with an approved firm of Chartered Accountants. The broader the range of clients served by the firm, the greater the skills and ability a student will acquire in areas such as auditing, taxation, systems and business law. We believe that we possess such a clientelle and therefore, offer a unique training opportunity to our students.

Once a C.A. designation is obtained, a license to practice public accounting may be applied for. The C.A. designation in Canada is similar to the C.A. designation in England and the C.P.A. designation in the United States.

THE PRACTICE

We try at all times to maintain high standards for both computer hardware and software as well as for industry technology and reporting requirements. Accordingly, the Institute of Chartered Accountants Of Ontario (ICAO) permits us to train up to three professional articling students at any one time.

All students must have a University Degree with intentions of becoming a Chartered Accountant before gaining employment. They must demonstrate good accounting skills and possess the knowledge to audit and advise our clients.

Every four years, the ICAO carries out a practice inspection review of all offices employing licensed public accountants. The inspection focuses on quality control and adherence to standards within our industry. This procedure includes a detailed audit of both `audit' and `review' working paper files, financial statement presentation, office procedures and technical literature. Georhe A.Ormsby was successful in its latest review in the summer of 2000.

PRACTICE PHILOSOPHY

(A) Generalist, rather than specialist attitudes prevail in this practice.

The generalist can often notice a wider variety of problems and determine the solutions to those problems whereas the specialist may have too narrow a focus to determine the requirements of a particular client. As well, a specialist may not always notice where other specialists or generalists might better serve a client.
(B) A good tax knowledge is required to respond to a client's personal and corporate needs.

As generalists, we believe we possess knowledge in a broad range of tax areas. We can assess our clients' needs, including recommending an unbiased specialist, quickly when problems arise.
(C) We prefer to employ university graduates who are students in the professional accounting environment.

These students are always up to date with recent accounting and auditing pronouncements within North America and they exude an intelligent aura to the work and social environment.

CURRENT CLIENTELLE

The current clientelle of this practice usually surprises our associates. It covers a very broad spectrum of personal and corporate organizations in Canada and the United States. Corporate clients range from the corner gas retailer, to consultants, manufacturers, professionals and a good representation in the non-profit sector. We have had clients listed and actively traded on major Canadian stock exchanges. For a list of the industries which we are involved in, click here.

EXPERIENCE

George A. Ormsby, C.A.

George Ormsby began his training with the firm of Touche Ross Bailey & Smart in Toronto and completed it with Thorne Ridell (now Peat Marwick Thorne). In the early 1970's, he began his own practice which was partly fuelled by the restructuring of the Canadian income Tax Act at that time.

The range of clients with these firms included: Chrysler Canada, Bell Canada, Canadian Breweries (O'Keefe and Carlings), and Revenue Properties Limited. These public corporations were interlisted on the New York and Toronto Stock Exchanges. There were numerous clients in the private sector as well whose names cannot be released. Several of these were major players in the retail sector, steel fabrication and real estate development.

Particular strengths are in the areas of manufacturing and processing, automotive dealerships, resort hospitality and hotel industry, non-profit organizations and real estate development. Systems analysis and implementation is of great interest as is taxation.

OUR STAFF

Christopher Ormsby, B.Acc.,C.A.

Christopher began his apprenticeship training with George Ormsby in January of 1997. He received his bachelor of Accounting from Brock University, in St. Catherines Ontario in June of 2000. While enrolled at Brock Christopher was part of the Co-Op program which enabled him to gain practical experience while in school.

When his apprenticeship was completed, Christopher wrote and passed the Canadian Institute of Chartered Accountants Uniform Final Exam (UFE), receiving his Chartered Accountant designation in April of 2001.

Fabrice Jestin, B.Acc.

Fabrice began his apprenticeship training with George Ormsby in April of 1998. He received his bachelor of Accounting from Brock University, in St. Catherines Ontario in June of 2001. While enrolled at Brock Fabrice was part of the Co-Op program which enabled him to gain practical experience while in school.

Having completed the necessary requirements Fabrice wrote and passed the Canadian Institute of Chartered Accountants Uniform Final Exam (UFE) in the fall of 2001. Fabrice will receive his Chartered Accountant designation when he has completed the remaing few months of the practical expereince requirements.

Kathleen Ormsby, B.Soc.

Kathleen began working with George Ormsby in 199 . She received her degree from Dalhousie University in Halifax Nova Scotia, in 1996.
She has spent most of her time working almost exclusively with clients who are involved with one of the largest court cases in regards to tax in recent history.

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