Canadian executive CAs say graduate hiring levels likely to decline in 2009

    TORONTO, May 15 /CNW/ - Senior level chartered accountants in Canada
expect fewer university and/or college graduates to be hired this year
according to the most recent CICA/RBC Business Monitor (Q1 2009).
    Although half of the respondents indicated that their hiring levels were
expected to be unchanged from a year ago, 17 per cent indicated that their
company's hiring levels would decrease. This is up sharply from eight per cent
of respondents last year. Only six per cent of the respondents suggested that
their company was planning to increase the number of graduates hired in 2009.
    Respondents indicating that they plan to hire fewer graduates compared
with last year were most likely to cite the economic downturn in Canada (80%)
or decreased sales (60%). Note: total exceeds 100 per cent because respondents
were able to reference more than one factor. Other factors referenced included
an economic slowdown in the United States or an economic slowdown in other
    "The fact that the number of graduates hired may decrease this year is
not a surprise," said Kevin Dancey, FCA, President and CEO, Canadian Institute
of Chartered Accountants (CICA). "Companies are making tough choices in these
tough times. However, as we recently reported, these same chartered
accountants expect Canada to experience economic growth by the end of the
second quarter of 2010. Perhaps, those tough decisions will soon become a
little easier to make."
    The CICA/RBC Business Monitor is issued quarterly, based on a survey
conducted by The Canadian Institute of Chartered Accountants. The report draws
upon business insights of CAs in leadership positions in privately and
publicly held companies across Canada. For this Q1 2009 report, emailed
surveys were completed by 539 CAs of 3,724 identified by the CICA as holding
senior positions (CFOs, CEOs and COOs) in publicly or privately held companies
in Canada. The response rate was 14 per cent, with a margin of error
associated with this type of study at +/- 4.2 per cent, with a confidence
level of 95 per cent. The CICA/RBC Business Monitor (Q1 2009) is available
online at
    The CICA/RBC Business Monitor (Q1 2009) is part of an international
initiative. The American Institute of Certified Public Accountants (AICPA) in
the United States and the Institute of Chartered Accountants in England and
Wales (ICAEW) in the United Kingdom also undertake quarterly studies that tap
the insights of members in senior positions to provide a barometer of economic
activity in their nations and as a basis for future comparative analysis
across countries.

    About CICA

    The Canadian Institute of Chartered Accountants (CICA), together with the
provincial, territorial and Bermuda Institutes/Ordre of Chartered Accountants,
represents a membership of approximately 74,000 CAs and 10,000 students in
Canada and Bermuda. The CICA conducts research into current business issues
and supports the setting of accounting, auditing and assurance standards for
business, not-for-profit organizations and government. It issues guidance on
control and governance, publishes professional literature, develops continuing
education programs and represents the CA profession nationally and
internationally. CICA is a founding member of the International Federation of
Accountants (IFAC) and the Global Accounting Alliance (GAA).

For further information:

For further information: Interviews can be arranged with Kevin Dancey,
CICA President & CEO by contacting: Tobin Lambie, CICA, (416) 204-3228 or c/o

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