The role of CPB Canada Directors is to foster the development of the organization by governing and, working with the CEO, to establish and oversee the strategic direction of CPB Canada. We encourage you to review the FAQs to assess whether serving on the Board of Directors is the right fit for you.
FAQs
What are The duties, responsibilities, roles, and expectations of a Director?
As a Director on the CPB Canada Board, it is your responsibility to:
- Represent the membership.
- Participate in regular meetings as well as potentially serve on a committee.
- Approve and monitor the execution of board policies.
- Establish CPB Canada’s strategic direction.
- Approve CPB Canada’s operational plan and budget.
A Director has a Duty of Care, a Duty of Loyalty, a Duty of Obedience, a Fiduciary Duty, a Duty to Avoid Conflict of Interests, and a Duty to Act Within Scope of Authority. Directors also carry certain personal liabilities that must be considered before joining a board, including:
- Criminal & Civil Liability
- Statutory, Employee and Workplace, Income Tax, and
- Environmental Liabilities.
CPB Canada provides ways in which you can manage your personal liability and risk during its board orientation session.
Directors may be expected to participate on a committee, and each can express interest in one of the executive roles. The board approves these roles/positions at its first meeting annually. Directors are required to attend and participate in a minimum of 80% of board meetings, with the goal being 100% attendance. This also holds true for the committees that each director participates in.
If you would like further information on these duties, responsibilities, roles or expectations, please contact the CPB Canada CEO at Rick@cpbcan.ca.
Do I Need to Be a CPB Canada Member To Be A Director?
Yes. To be eligible to serve on the CPB Canada Board of Directors, a nominee must be a CPB Canada Certified Professional Bookkeeper (CPB) for a minimum of two (2) years and in good standing.
Do I need to pass a criminal background check?
Yes, nominees must pass a criminal background check to be considered for a director position. CPB Canada assists with this process.
Does the board provide orientation for new members?
An orientation will be provided for the new Directors outlining duties and responsibilities and a package will be provided to all elected candidates including policy, terms of reference, minutes from the past year and other governance-related information and materials.
Are Directors protected from personal liability?
Directors are protected from personal liability flowing from the organization’s activities however they do face exposure to personal liability for their own actions that are inconsistent with the duties that they owe to the corporation that they are serving. CPB Canada provides ways in which you can manage your personal liability and risk during its Director orientation.
Does CPB Canada carry Director & Officer Insurance?
Yes. CPB Canada carries Director and Officer Insurance (D&O Insurance).
What are the desirable qualities for CPB Canada board members?
We are looking for individuals who can make a solid contribution to the governance and strategy of the organization. You should have an inner passion for supporting and enhancing the CPB Canada membership, and align with our vision, mission and values. Desirable qualities include:
- Awareness and understanding of the role of CPB Canada to the bookkeeping industry.
- Passion for improving CPB Canada and its membership.
- Ability to see the bigger picture.
- Ability to understand the Board’s oversight role and apply risk management practices.
- High ethical standards and integrity.
- Ability to communicate effectively and work as group.
- Active in the bookkeeping industry.
- Ability to understand management reports.
- Well-developed faculty for critical analysis.
- Ability to identify and recognize conflict of interest.
- Embraces technology trends and innovation.
- Previous Board experience.
Can I review all-important reporting (financial, budgets, by-laws, strategic, operations, governance) as part of my consideration?
Yes. This information can be reviewed after you sign a confidentiality agreement.
Can I speak with current and past Directors as well as the CEO?
Yes. Please email the CPB Canada CEO at Rick@cpbcan.ca to make these arrangements.
Do I need to have consent from my Employer to participate on The CPB Canada Board?
We encourage you to tell your employer about CPB Canada as your identity, employer name, and reputation of the employer may be involved. In addition, if you are not self-employed you need to ensure your employer will allow you to take the time for the meetings.
A case can be made for your professional development, networking, brand, and relational enhancement.
How many board and committee meetings are there?
The Board meets quarterly for three hours and uses an online platform for these meetings. These meetings are conducted during business hours, normally from 12:00 pm to 3:00 pm Eastern time.
Each committee sets its own schedule according to its mandate and the availability of its members.
What is the term of a Director? What are the conditions for reappointment or resignation, if any?
A Director is elected to serve for a three-year term and may serve a maximum of 3 consecutive 3-year terms, a total of nine consecutive years (Section 5.2 of CPB Canada Bylaws). A director may resign at any point in time.
How much time will I be expected to dedicate to the work of CPB Canada
This will depend on which committees and what work you take on; however, the average personal minimum commitment is 20-35 hours a year.
Will I be compensated as a director?
As a Director, you will not be paid; however, it is the policy of CPB Canada to reimburse Employees, Consultants/Contractors, and Directors (acting in the capacity of and as a representative of CPB Canada) for reasonable expenses incurred to fulfill their duties in such capacity, or while on company business and for specific business purposes only. There is a Travel and Expense Policy for adherence. You will receive other non-financial benefits from serving as a Director, including satisfaction, networking, fun, and making a difference.
Does the board assess its own performance?
Yes, the CPB Canada Board assesses its performance against the strategic plan and conducts a regular post-meeting assessment. Further processes for Board performance assessment are under development.