Thank you, Chair.
I wish to address my question to Ms. Presseault. Simply to set the frame of this, some 40 years ago I was in public accounting, one of the big fives. Subsequent to that I was also a director of a public corporation, so I have experience dealing with management reports and so on.
Throughout this entire period, this evolution of looking at how our tax act went, pre-1972, from a quarter of an inch to about two inches to the stacks of interpretation bulletins—FASB and IAS and so on—I think this is what kept more than one accountant employed.
I'd like to hear your thoughts about something quite simple. Can we go back to cash-base accounting, for one. If not, because we do have this issue of having to handle accruals, because government wants to be in there to make the system fair, we start having assets. One of the things that I think would really help us is to do a re-evaluation of assets across the board every 10 years, so we are now dealing with a base 100 every 10 years and we don't have to go back and deal with assets that are sitting in a closet that probably we have lost the original documents for.
On those two specific points, I'd like to hear your comments as to how we can simplify the tax act. I appreciate Mr. Allen's proposal to bring all these things up, because every time we go through a budget we wonder what's missing, and what's not missing. Let's simplify all that and do another evaluation.