Investor Presentaiton

CHARTERED PROFESSIONAL ACCOUNTANTS OF NEW BRUNSWICK Notes to Financial Statements Year Ended March 31, 2023 12. NET ASSETS - PROFESSIONAL CONDUCT RESERVE The professional conduct reserve represents internally restricted funds to cover legal and investigative fees relative to professional conduct matters. The Organization has one large professional conduct complaint that is ongoing. Since inception of the matter, costs totaling $152,797 have been incurred and have been charged to professional conduct reserve expense of the $225,000 originally restricted. For 2023, hearing costs of $47,089 (2022 - $64,560) were incurred leaving the balance of the reserve of $72,203 (2022 - $119,292) ending March 31, 2023, 13. RELATED PARTY (a) Chartered Professional Accountants of Canada (CPA Canada) CPA New Brunswick has an agreement with CPA Canada to work together to achieve a common mission and vision, to administer their affairs in accordance with agreed principles, and to act in the spirit of utmost faith and trust to best serve the interests of the CPA profession and the public. Provincial bodies which govern Chartered Professional Accountants across Canada, such as CPA New Brunswick, fund the operations of CPA Canada through sharing national committee costs, marketing expenses, and collecting national member fees on its behalf. The Organization remitted to CPA Canada fees totaling $28,542 for the 2022-2023 year after March 31, 2022. Fees for 2023-2024 year collected on behalf of CPA Canada, in the amount of $831,850, were remitted prior to March 31, 2023 and the remaining balance of $25,550 is included in current accounts payable. These fees collected and remitted to CPA Canada by CPA New Brunswick on their behalf are not reflected in the Statement of Operations. (b) Chartered Professional Accountants Atlantic School of Business (CPA ASB) CPA New Brunswick has entered into an agreement whereby the CPA ASB recruits and registers students into the CPA professional education program and administers that program. The CPA ASB is incorporated under the Nova Scotia Societies Act as a not-for-profit organization and is a certified educational institution under the Income Tax Act. It is governed by a separate board appointed by the provincial CPA bodies in Atlantic Canada and Bermuda. 14. EMPLOYEE FUTURE BENEFITS The Organization provides benefits to all employees through participation in a multi-employer defined contribution plan. The assets of the plan are held separately from those of the Organization in an independently administered fund. Contributions accrued and expensed by the Organization during the period totaled $31,886 (2022 - $27,842). 15. COMPARATIVE FIGURES Some of the comparative figures have been reclassified to conform to the current year's presentation. 12 teed saunders charted professional accountants doyle & advisors 29

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