CMA Ontario Authorized to License Public Accountants

TORONTO, Jan. 25, 2012 /CNW/ - The Certified Management Accountants of Ontario (CMA Ontario) today announced its approval as an Authorized Designated Body by the Public Accountants Council for the Province of Ontario (PAC or Council).   Effective immediately, CMA Ontario has the authority to license and govern Certified Management Accountants (CMAs) to practise public accounting.

"Licensed CMAs will now be authorized to perform all public accounting services including issuing audit reports," says Merv Hillier, MBA, FCMA, C.DIR, CMC, President and Chief Executive Officer of CMA Ontario.  "We have long held the view Ontarians should have a competitive choice when seeking the services of an independent auditor. Ontarians now have that choice," says Hillier.

Today's announcement signals the beginning of a new dimension in public accounting, as CMAs bring their unique combination of strategy, management and accounting expertise to the practice.

"For CMA candidates and students wishing to become a licensed public accountant they must first qualify as management accountants, thereby benefiting from our proven and highly regarded Strategic Leadership Program, offering intensive practical training in all facets of contemporary business," says Hillier.  "Those successful candidates who choose to pursue a public accounting licence will then be able to offer clients an outstanding combination of essential and interdependent business disciplines. The powerful fusion of holistic management skills and our proprietary public accounting program, promises to introduce a new perspective and set of unparalleled skills to the practice of public accounting."

The CMA Ontario public accounting path calls for candidates to qualify for and pass a Technical Proficiency Exam, complete an Integrated Public Accounting Study Program, and successfully challenge the CMA Public Accounting Licensure Examination.

The CMA public accounting program will create a strong, reputable and viable public accounting option for CMAs in Ontario, while protecting the public interest and contributing to a stronger Ontario economy.

About the Certified Management Accountants of Ontario (CMA Ontario):

The Certified Management Accountants of Ontario is a self-governing professional organization that awards the Certified Management Accountant (CMA) designation to qualified candidates in Ontario. With some 24,000 members, CMA Ontario is an integral part of a profession that is 50,000 members strong across Canada and around the world. CMA Ontario maintains rigorous standards of accreditation and professionalism in management and public accounting to protect the public interest.

For further information:

Media Contact:
Corinne Radake
Senior Manager, Communications
CMA Ontario
cradake@cmaontario.org
T: 416-204-3141
C: 416-722-3900