419:. GT frequently advised conservative governments on department efficiencies and was appointed to several royal commissions. He was also appointed the auditor of several government businesses or businesses where the major creditor was the government, including, by 1923 no less than 4 defaulted banks: the Ontario Bank, the Sovereign Bank, Farmers’ Bank, and the Monarch Bank and had liquidated dozens of other financing institutions including the Dominion Permanent Loan Company. Later that year he would administer the liquidation of Home Bank. He had also been auditor to the Canadian Bank of Commerce, and a single year in 1901 the Colonial Investment and Loan Company, Bank of Toronto, Dominion Bank, Imperial Bank and the Standard Bank of Canada. Toronto's
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241:, whose reputation for creating a "Clarkson Man" was that of creating "a gentleman who had been taught from birth if he were lucky, or during his apprenticeship with the firm if he were less so, how things worked in the Canadian elite. Clarkson Men masked their aggressive, innovative energies behind an acceptably circumspect façade of unrelenting hard work, iron-willed self-control, and unerring good manners". Those matters of being a gentleman; what the
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particularly the writings of
Geoffrey Teignmouth Clarkson and ERC, have been used as foundations of the insolvency and bankruptcy law of Canada. Several innovations in receivership and the development of receivership rules were the result of legal challenges made by the firm in their liquidator roles.
364:
The professionalisation of the accounting class coincided with ERC transforming his business into two parallel practices: a receivership business known as ERC Clarkson & Sons, and an accounting business known as
Clarkson & Cross. William H. Cross, a fiery Mancunian, frequently butt heads with
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joined the firm alongside GT's three sons, Robert Curzon, Geoffrey Perry, and
Fredrick Curzon. Walter Gordon The firm established a "best friend" partnership with Arthur Young & Co, sharing services and servicing each other's clients depending on which side of the border the client was on. The
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at 222 Bay Street. The firm had 420 partners and 2,100 professionals and a sizeable art collection of over 900 pieces, specialising in
Canadian artists. Before the firm was able to move into the new complex, Ernst & Whinney and Arthur Young & Co announced that the two firms would merge. The
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GT, like his father, provided the accounting and auditing services of the firm to non-profit and charity organisations, particularly educational institutions free of charge. He served on the board of governors for
Havergal College, Upper Canada College, Wycliffe College, and the Hospital for Sick
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W.H. Cross retired in 1913. By then, the partnership consisted of ERC and his son
Geoffrey Teignmouth (GT) Clarkson. Colonel H.D.L. Gordon was selected to replace Cross. ERC Clarkson had known Gordon 1896 when ERC had recommended Gordon go to England and work for Cooper Brothers & Co, a large
315:
when Thomas was appointed an
Official Assignee for the Province of Ontario. Thomas Clarkson was a prominent financier in Toronto, having raised the Exchange building, served as the Board of Trade president and was on the board of directors for several banks including the Bank of Toronto (which he
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GT Clarkson, who eventually became the managing partner after ERC's retirement, joined the firm following his qualification as an accountant at 15 in 1893. GT was noted for being particularly private but politically savvy. He, like ERC was a conservative and GT was extremely close with
Ontario
278:
Clarkson Gordon's managing partners are directly attributed for developing key bankruptcy and insolvency reform in Canada, particularly the reforms resulting from the repeal of the insolvency act 1881, the
Bankruptcy Act 1919, and the creation of the Banking Act of 1923. The firm's training,
342:(ERC) to Toronto from Montreal and at 18, ERC joined the business. A year later, Thomas suffered a paralytic stroke, ERC was not yet 21 and barred from being appointed a receiver by the province of Upper Canada, ERC formed a partnership with Mr Munro which they called
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following the merger of Ernst & Whinney and Arthur Young & Co, creating the largest accounting firm in the world. At the time of its merger with Ernst & Young, Clarkson Gordon was the second largest firm within the EY Network, and was rebranded as
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s 1965 description was eventually expanded to include: a quiet self-confidence, a willingness to work weekends and holidays and above all, to be willing to lose—or perhaps more aptly leave—a client if the financial data underpinning an audit was misleading.
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and a
Senator when giving evidence to the Select Standing Committee on Banking and Commerce in the House of Commons. Indeed his ties to the government were so strong that he was offered the Minister of Finance position under
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In 1868, Thomas Clarkson was President of the Chamber of Commerce and lacked experienced help. His senior employee, Mr. Thomas Munro was dedicated full-time to the work. By 1872 work was so busy that Thomas recalled his son,
435:. GT's opinion was deemed critical when drafting the Banking Act 1923 and no changes to the legislation when in committee were to be made without his approval. He often corresponded with Arthur Meighen when Meighen was both
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two firms also created a joint venture in Brazil. The firm operated out of Quebec and the Maritimes by the firm of Clarkson, Mcdonald, Currie & Co. The firm's name in Ontario and the west soon changed to
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London-based accounting firm. Gordon had returned in 1898 as a staff with Clarkson & Cross for eight years. demanded his protege, RJ Dilworth, also become a senior partner and the firm was renamed
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President's Report For the year ending 30 June 1923, “Statement regarding the Biological Museum” to the Board of Governors of the University of Toronto 1917/18-1923/24, p 78 AXX-4814
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Proceedings of the First Annual General Meeting of the Stockholders of the Bank of Toronto held at the banking house of the institution in Toronto on Wednesday, 15 July 1857 <
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and operated for 125 years until the partnership elected to merge with the EY network of firms in 1989 following the merger between Ernst & Whinney and Arthur Young & Co.
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The group additionally operated through partnerships with other practices including Clarkson, Cross & Helliwell in Vancouver (Helliwell being one of ERC Clarkson's cousins).
346:, operating out of the Exchange Buildings at 34 Wellington Street. This partnership lasted until 1877 when Clarkson received his appointment as an official assignee and joined
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In 1947 near the end of GT's management, an ancestor of Thomas Clarkson and GT's distant cousin, Gertrude Mulcahy, became the first woman to receive her CA.
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The Financial Times 14 June 1944, page 12 “Expert Opinion Behind Stand on Bank Reserves: GT Clarkson Says that to Reveal Them would be Unwise and Dangerous”
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accounting and auditing services provided by Clarkson Gordon (and previous iterations including Clarkson & Cross, Clarkson Gordon & Dilworth, etc);
361:, serving as the Institute of Accountants of Ontario's first president and widely regarded in his obituaries as the first Canadian chartered accountant,
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in Queen's Park. A fact which so angered GT that he tried to sue the magazine for libel. He was frequently called upon to provide expert evidence at
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trustee services, assignee, receivership, liquidation and bankruptcy services through ERC Clarkson & Sons (eventually the Clarkson Company).
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helped establish). As early as 1857, Thomas had served in a proto-auditor role on behalf of the shareholders of the Bank of Toronto known as a
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scandal of 1890 which resulted in Clarkson & Cross investigating the decisions of the company on behalf of shareholders.
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Clarkson Gordon partnership announced that after 125 years it would change its name in Canada to Ernst & Young Canada.
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Children. ERC provided the auditing for the University of Toronto until his death and the Canadian Bankers' Association
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described as the difference between an accountant and a "Clarkson Man" differed in its description over the years, the
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By then ERC had become interested in accounting, and along with others in Toronto, was a founding member of the
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758:
Walter Gordon Walter Gordon: A Political Memoir, Volume 10 of Canadian lives, Formac Publishing Company, 1983
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Throughout most of the firm's history, the organisation was structured across three separate business lines:
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226:) was a national Canadian accounting and receivership business founded in Toronto, Upper Canada in 1864 by
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720:"An Interpretative Chronology of the Development of Accounting Associations in Canada: 1879-1979"
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the Institute of Accountants of Ontario leadership (other than Clarkson), particularly after the
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Through the 20th century, Clarkson Gordon provided auditing to all five of Canada's
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https://digital.library.mcgill.ca/hrcorpreports/pdfs/B/Bank_of_Toronto_1857.pdf
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magazine claimed in the 1930s that GT was known as "Jesus Christ" amongst the
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David Mackenzie, Clarkson Gordon Story: 125 years (1989 Clarkson Gordon) 7
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In 1989, the firm announced that it would move into the newly constructed
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Grits: An Intimiate portrait of the Liberal Party: "The Politics of Joy"
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Meighen Papers Series 4 (M.G. 26, I, Volume 140) Reel C3477 file 0355
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at the urging of prominent Toronto Conservative figure I.E. Weldon.
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Defunct Canadian accounting & consultancy firm based in Toronto
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management consultancy services provided by Woods Gordon & Co;
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Clarkson Gordon was founded by the Clarkson family in 1864 by
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The Clarkson Gordon story : In celebration of 125 years
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helped found, used the venue to promote insolvency reform.
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MacKenzie, David Clark; Clarkson, Gordon (Firm) (1989).
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ERC Clarkson & Sons (The Clarkson Company Limited)
809:
https://www.caaa.ca/media/305508/gertrude-mulcahy.pdf
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A History of Canadian Accounting Thought and Practice
519:– former chairman & CEO of RBC & SNC-Lavalin
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Financial services companies disestablished in 1989
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299:in 1989, although EY still retains the copyright.
597:, "Flaherty will get you nowhere" (Aug. 31, 2007)
290:, Ontario, Canada until 1989 when it merged with
992:Financial services companies established in 1864
941:Ernst & Young Entrepreneur of the Year Award
462:Clarkson, Gordon, Dilworth, Guilfoyle & Nash
503:– senior partner and former minister of finance
678:"Reports Say Arthur Young and Ernst May Merge"
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380:ERC, a prominent member and president of the
237:for Canadian business elite and was known as
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359:Canadian Institute of Chartered Accountants
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746:Financial Review, 1923 pages 101, 110, 129
634:Bankruptcy legislation [microform]
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997:Canadian companies disestablished in 1989
790:Hospital for Sick Children, Report 1921
726:. New York: Garland. pp. 551–627.
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286:. Clarkson Gordon was headquartered in
987:Canadian companies established in 1864
708:1877 Might's Greater Toronto Directory
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527:Maple Leaf Sports & Entertainment
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455:By the 1930s, Colonel Gordon's son,
384:, an organisation which his father,
355:Institute of Accountants of Ontario
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622:magazine, 1983 (Peter C. Newman)
936:Devan v. Ernst & Young LLP
722:. In Murphy, George J. (ed.).
553:– championship Canadian curler
409:Clarkson Gordon & Dilworth
386:Thomas Clarkson (Upper Canada)
309:Thomas Clarkson (Upper Canada)
148:(Managing Partner - 1871-1931)
123:Thomas Clarkson (Upper Canada)
57:1864 (as Clarkson & Munro)
1:
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239:the pedigreed accounting firm
138:Geoffrey Teignmouth Clarkson
718:Richardson, Alan J. (1993).
491:Edward Roper Curzon Clarkson
487:– former minister of finance
444:'s government following the
340:Edward Roper Curzon Clarkson
210:Arthur Young Clarkson Gordon
145:Edward Roper Curzon Clarkson
565:– Auditor General of Canada
559:– CEO of Cuso International
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1007:Companies based in Toronto
956:National Equality Standard
313:Thomas Clarkson & Sons
233:The firm was considered a
606:Christina McCall-Newman.
348:Turner, Clarkson & Co
207:Clarkson, Gordon & Co
889:Clarkson Gordon & Co
425:Provincial Conservatives
224:Clarkson Gordon & Co
534:– President and CEO of
357:, a predecessor of the
257:Structure and influence
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382:Toronto Board of Trade
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204:Woods, Gordon & Co
472:Clarkson Gordon Tower
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48:Professional services
610:(1982) Toronto, p 21
595:The Globe & Mail
344:Clarkson & Munro
826:. Clarkson Gordon.
538:and EVP and CFO of
536:Magna Entertainment
184:Insolvency services
65:1989 (rebranded as
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961:One Kennedy Square
683:The New York Times
620:The Financial Post
404:
397:
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367:Confederation Life
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140:(Managing Partner)
969:
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875:Ernst & Young
733:978-0-8153-1248-2
576:Ernst & Young
547:– media executive
395:Wellington Street
292:Ernst & Young
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105:the United States
16:(Redirected from
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982:Accounting firms
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501:Walter L. Gordon
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327:Thomas Clarkson
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235:finishing school
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131:Walter L. Gordon
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222:(also known as
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485:Jim Flaherty
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429:Queen's Park
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318:"Scrutineer"
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179:Tax advisory
74:Headquarters
36:Company type
686:. May 1989.
551:George Fink
332: 1864
95:Area served
39:Partnership
976:Categories
582:References
433:Parliament
174:Consulting
164:Accounting
117:Key people
951:ITEM club
525:– CFO of
415:Premiers
297:EY Canada
194:Divisions
126:(Founder)
67:EY Canada
946:EY Plaza
637:. 1885.
570:See also
169:Auditing
157:Services
44:Industry
929:Related
431:and in
303:History
288:Toronto
83:Ontario
79:Toronto
62:Defunct
54:Founded
903:People
830:
730:
641:
108:Brazil
102:Canada
88:Canada
540:Magna
250:'
247:Globe
243:Globe
828:ISBN
728:ISBN
699:>
639:ISBN
421:Hush
311:as
978::
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