Institute Of Chartered Accountants Of Ontario

September 16, 2013 09:05 ET

CPAs Bestow Highest Honour on Two Distinguished Members

CPA Ontario names 2013 ICAO Award of Outstanding Merit recipients

TORONTO, ONTARIO--(Marketwired - Sept. 16, 2013) - The Chartered Professional Accountants of Ontario is honouring two of its most distinguished members with the ICAO Award of Outstanding Merit, recognizing their professional accomplishments and invaluable service to the profession and the community.

The Award of Outstanding Merit is the highest honour that CPA Ontario can bestow upon its members. Established in 1984, the Award recognizes conspicuous and sustained service to, or on behalf of, the profession, including service to the community.

The Council of CPA Ontario has elected the following individuals as the year 2013 recipients of the Award:

Paul G. Cherry, FCPA, FCA

Thomas C. O'Neill, FCPA, FCA

Messrs. Cherry and O'Neill will be formally presented with the ICAO Award of Outstanding Merit at the September 19 Fellowship celebration dinner in Toronto.

Messrs. Cherry and O'Neill join an illustrious group of Chartered Professional Accountants who have been honoured with the Award of Outstanding Merit during the past 29 years. Seventy-five per cent majority votes of both a nominating committee, made up of the five most recent ICAO past-chairs, and of the Institute's governing Council are required for election to this prestigious award. Since its inception in 1984, there have been 49 ICAO Award of Outstanding Merit recipients and this is the first time the Award has been presented since 2011.

Paul Cherry earned a Bachelor of Commerce from Queen's University and qualified as a CA in 1974. He was elected to fellowship in 1991. He began his career with predecessor firms of PricewaterhouseCoopers where he was a Partner from 1981 to 1999.

In a varied and distinguished career, Paul has had a lasting influence on improving the state of financial reporting in Canada and internationally. Through his selfless commitment to excellence, he has served Canada proudly and is internationally recognized as an innovative, thoughtful and committed leader with remarkable foresight.

Sought after for his expert counsel, he is now on his second term as Chair of the International Financial Reporting Standards Advisory Council. He has demonstrated remarkable stable leadership qualities in turbulent economic times and has made many contributions to the development of Canadian and international accounting standards.

Paul has exemplified conspicuous and sustained service on behalf of the CPA profession through continual contributions at the highest levels over the past 25 years, and in so doing he has brought great credit to the accounting profession. He was awarded the Officer of the Order of Canada November 19, 2012 for his commitment to improving financial reporting, notably through his leadership in developing international accounting standards.

A native of Quebec City, Tom O'Neill graduated with a Bachelor of Commerce degree from Queen's University, became a CA in 1970 and was elected an FCA in 1988. Tom O'Neill joined the audit staff of Price Waterhouse in Toronto in 1967 becoming a partner in 1978. He had a diverse, distinguished career with his firm until his retirement in 2002, at which time he was Chair of the Board of PwC Consulting.

Tom has been a long-standing leader, donor, volunteer, mentor, advisor and champion of Canadian higher education, most notably for Queen's University. In recognition of his contributions, he was the recipient of the 2011 The Canadian Council for the Advancement of Education's Friend of Education Award.

Since retiring from his firm, Tom's service as a corporate director has been highly valued by many prominent corporations, including BCE Inc., where he has been Chair of the Board since 2009.

Tom is a Chartered Professional Accountant who has clearly provided conspicuous and sustained service as a leading member of the CPA profession. Throughout his distinguished career with PricewaterhouseCoopers and continuing through his retirement, he has provided leadership to the business community at the highest level, bringing great credit to the CPA profession.

About the Chartered Professional Accountants of Ontario

The Chartered Professional Accountants of Ontario (registered name of the Institute of Chartered Accountants of Ontario) is the qualifying and regulatory body of Ontario's more than 36,500 CPA, CAs and almost 6,000 CPA, CA students. With a rich history dating back to 1879, the Chartered Professional Accountants of Ontario serves the public interest by developing, monitoring and enforcing the highest standards of professional competence and ethical conduct. Chartered Professional Accountants are valued by organizations of all types for their financial expertise, strategic thinking, business insight, management skills and leadership. The Chartered Professional Accountants of Ontario's website is: and the student website is

Contact Information