CPABC Industry Update Fall 2014 | Page 3

FA L L Banking and Finance: British Columbia’s National and International Impact 2 0 1 4 British Columbia is home to a thriving banking and finance industry. With connections to the United States and the major emerging markets in Asia, Vancouver has become a centre for domestic and international banking and finance. This growing sector appears destined to continue making profound contributions to BC’s economy. The fall issue of CPABC Industry Update profiles the BC financial services industry’s importance to the Canadian economy, as well as its international presence, and provides insights into key trends in global trade and the differences between banking regulations in the United States and Canada. This edition also looks at the Bank of Canada’s role in the Canadian economy, offers tips on how to prevent fraud, and supplies a history of credit unions in BC. British Columbia’s CA, CGA, and CMA bodies are currently working to unite under the CPA designation. CPABC Industry Update is their online magazine for members, candidates, and students working in industry. About CPABC Industry Update is published online four times a year and is sent to over 34,000 CA, CGA, and CMA members, candidates, and students in British Columbia. Opinions expressed are not necessarily endorsed by the ICABC, CGA-BC, or CMABC. Copyright CPABC Industry Update 2014. This issue also includes a list of professional development courses being offered by CPABC. We hope you enjoy the fall edition of Industry Update. Contact us Visit us online at bccpa.ca, or email [email protected]. Editorial inquiries can be sent to James Eisner at [email protected]. In this Issue Look for this icon throughout Industry Update Click to return to In this Issue (page 3) 5 The Bank of Canada: An Overview 9  BC Financial Services The in every issue 11 Expanding into the United States? 4  Industry Snapshot: Banking Industry’s Importance to a More Competitive Canadian Economy Prepare for a Different Business Environment 14 16  Opportunities PD A  Banker’s Advice on Going Global: Q&A 18  Thriving Credit Union System Serves Communities Across BC Trends in 20  Financial Fraud and Fraud Prevention 22  Connect with CPABC Online 20 : TO 5 9 11 14 FALL 2014 | page 3