From PASC President Cody Austin
2017 has been a very busy time for the Petroleum Accountants Society of Canada (PASC). This year the society focused heavily on creating value for our members. Our key areas of focus have been updating and ensuring relevancy of publications, education and providing quality luncheons.
One of the key initiatives for 2017 has been reviewing all publication for relevancy and increasing the rate of publications. We had member feedback that we were not reacting to changes in industry with relevant publications as fast as members would like so we created a publications committee with the sole focus of reviewing and maintaining publications. The result has been faster more timely publications and a complete reduction of outdated publications.
In September PASC hosted its annual education day with this year’s theme centering around “Great Expectations”. Education day has been the marquee event for PASC since its inaugural event five years ago and this year was better than ever. The event moved to a new venue this year as the Calgary Petroleum Club was undergoing renovations. Education day featured a talented roster of industry speakers such as Tim McMillan (CAPP President) who presented on The Canadian Oil & Gas Industry the Challenge of Staying Competitive on The Global Stage and Marty Proctor (CEO of Seven Generations Energy) who presented on Serving Stakeholders. Education day also had local industry experts that presented on technical accounting topics such as IFRS, Alberta’s carbon levy, acquisitions & divestitures and general knowledge building topics such as domestic LNG, changing E&P landscape and team building. The event was very well attended and had the largest turnout to date. This event would not have been possible without the initial help from COPAS. COPAS provided access to member societies that already had education day that provided guidance and advice on how to create our own education day.
luncheons have always been a key component of PASC schedule and this year was no exception. The topics consisted of emerging issues and trends such as carbon taxes, LNG export, asset retirement obligations, aboriginal relationship building and digitization of the energy industry. This year PASC partnered with the Petroleum Joint Venture Association (PJVA) to create joint luncheons that benefited members of both societies. This relationship allowed both organizations to expand their reach and create larger luncheon audiences and allowed for increased networking.
2017 has been a challenging yet exciting year for PASC and we are looking forward to the opportunities and changes that 2018 brings.