As Canada's oldest accounting firm, Pannell Kerr MacGillivray traces its roots to 1857 when the founding partnership of John Kerr and William Anderson established practice in Toronto. In those days, accounting practices were quite different, providing services for the administration of estates and insurance as well as coping with companies keeping books by the single entry system. William Anderson was one of the five original organizers, in 1879, of the Institute of Accountants and Adjustors, the forerunner of the Institute of Chartered Accountants of Ontario, the first such institute in Canada. In its early stages, the firm conducted an extensive business as a liquidator; however, by the 1880's it began experiencing a steady increase in the accounting and finance divisions of the practice. This pioneer firm, which had by then expanded to Montreal, later became a part of MacGillivray & Co., founded in Hamilton, 1929. After furtherexpansion and mergers, the firm became known as Spicer MacGillivray.

Meanwhile, prominent pioneer accounting firms from Toronto, Montreal, Edmonton and Vancouver, had been formed between 1896 and 1912. These Canadian firms, among others, came together in 1967 as Campbell Sharp Nash and Field. By 1969, this business establishment became one of the four founding partners of the International Association of Pannell Kerr Forster.

Pannell Kerr MacGillivray was formed in Canada on February 1, 1987 by the merger of two Canadian national accounting firms, Pannell Kerr Forster and Spicer MacGillivray, reflecting both the Canadian heritage and international capacity. This business establishment today is one of the largest Canadian chartered accounting firms dedicated to servicing a wide range of ownermanaged entrepreneurs and institutional clients, and ranks approximately 11th among Canadian firms in size.

1. John Kerr, Founder, Pannell Kerr MacGillivray. 2. Royal Bank Plaza, North Tower, Home of the National Executive Offices of Pannell Kerr MacGillivray.

The firm today has offices in major centres across Canada, and has worldwide representation through the International Association of Pannell Kerr Forster which has 225 offices in 60 countries. Pannell Kerr Forster is internationally recognized for its expertise in hospitality and tourism, and

related consulting areas. Pannell Kerr in Canada continues to specialize in providing professional assistance in selected, financial advisory and consulting services, practicing as Pannell Kerr MacGillivray, Chartered Accountants: accounting and auditing, tax and estate planning, acquisitions and mergers; Pannell Kerr MacGillivray Inc.: Trustees in Bankruptcy and Receiver-Manager; Pannell Kerr Forster, Management Consultants: operations review, economic or market feasibility studies, information systems consulting.

The firm is governed at the national level through a Policy Board and Management Committee, with National offices located in Toronto, where professional standards are maintained and central staff training and other programmes are managed, and practice development initiated. The strength of Pannell Kerr MacGillivray is reflected in the ongoing success of its clients and is based on the reputation, skill, integrity and professionalism of the partners and staff. The firm's continuing commitment has always been to personalized service and direct involvement in its clients' success.

By practicing that way yesterday, Pannell Kerr MacGillivray has positioned itself as Creative Business Advisors for tomorrow.