CA-Sprott Business Competition launched in 2010

Entrepreneurial simulation gives students a chance to be the boss

TORONTO, January 29, 2010 – To the delight of high school business students and teachers across the province, the Institute of Chartered Accountants of Ontario and Carleton University’s Sprott School of Business have teamed up to re-launch a popular on-line business simulation. The CA-Sprott Business Competition will allow players to experience the joys and challenges of running their own company, all while competing for cash prizes.

Developed by the Sprott School of Business, the CA-Sprott Business Competition (CA-SBC) pits high school students against one another in the ultimate test of business savvy. Players make decisions relating to marketing, accounting, sales and more, while guiding their web-based virtual companies to glorious success or ignominious failure. The CA-SBC also provides high school business teachers with an innovative, hands-on teaching tool for their classrooms.

“The Sprott Business Competition was on hiatus in 2009 but now, thanks to our partnership with the Institute of Chartered Accountants of Ontario, it’s back and better than ever,” said Dr. Jerry Tomberlin, Dean, Sprott School of Business. “SBC is a free, entertaining way to engage high school students in the world of business. It makes their classes more fun because they can test theory in practice while playing against their peers.”

During January, high school business teachers from across the province have been registering their students at www.carleton.ca/sbc. Individuals can compete as well as teams of up to four students. It’s expected that thousands of Ontario students will be signed up by the February 19 entry deadline. They’ll be competing in two categories – Classic and Xtreme – for cash and bragging rights.

This year’s prizes are:

Classic (introductory):
- First place - $500 for the individual/team and $100 to the school business department
- Second - $200 for the individual/team
- Third - $100 for the individual/team

Xtreme (advanced):
- First place - $2,500 for the individual/team and $500 to the school business department
- Second - $1,000 for the individual/team
- Third - $500 for the individual/team

The competition starts in February and runs into April, followed by playoffs in May culminating with the finals on May 14. The winning teams will be celebrated at an awards luncheon in Toronto in June.

“The Institute of Chartered Accountants of Ontario is proud to support the CA-Sprott Business Competition because it helps educate young people about entrepreneurship, the life blood of our economy,” said Rod Barr, FCA, President and CEO of the Institute. “More importantly, it teaches something else that many students don’t know – business and competition are fun. CAs and other successful business professionals don’t just go to work to earn a paycheque; they go because they relish the challenge of solving problems and building dynamic organizations.”

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About the Institute of Chartered Accountants of Ontario:
The Institute of Chartered Accountants of Ontario is the qualifying and regulatory body of Ontario’s 33,000 Chartered Accountants and 5,000 CA students. Since 1879, the Institute has protected the public interest through the CA profession’s internationally recognized standards of qualification and the enforcement of its rules of professional conduct. Ontario CAs contribute greatly to international and domestic investor confidence in the soundness of the Ontario and Canadian economies. The Institute’s website is: www.icao.on.ca and the student website is www.guidetorulingtheworld.ca.

About the Sprott School of Business:
Carleton University’s Sprott School of Business is the business school of choice for students, employers, business and community members interested in exploring complex business issues. Our innovative programs, interdisciplinary research, collaborative partnerships and outreach are aligned to contribute to, influence and lead business and society by: providing our students with the knowledge to compete; pushing the frontiers of business knowledge; promoting intra-and entrepreneurship; adding value to society and seeking a future that is both ethical and prosperous. We align our teaching, research and partnerships along three core strengths: international focus, innovation and responsible management.

For more information, please contact:
Perry Jensen
Director of Media Relations, The Institute of Chartered Accountants of Ontario
416-969-4271 or 1-800-387-0735 ext. 271
pjensen@icao.on.ca

Robin Dunbar
SBC Program Administrator, Sprott School of Business, Carleton University
613-520-7565
robin_dunbar@carleton.ca

Kimberley Swartz
Media and External Relations Officer, Sprott School of Business, Carleton University
613-520-2600 ext. 1573
kimberley_swartz@carleton.ca