VANCOUVER, Oct. 1, 2013 /CNW/ - B.C.'s professional accountants have
signed a three-way joint venture agreement to create the Chartered
Professional Accountants of British Columbia (CPABC), and the
province's CAs, CGAs, and CMAs have begun aligning resources and will
work towards unification of the three organizations.
"What's happening in B.C. is part of a larger, national initiative. Most
of Canada's accounting bodies are unifying, or have unified under the
CPA banner, and with 71,000 CPA members in Ontario and Quebec, CPA is
now the largest accounting designation in Canada," said Richard Rees,
CPA, FCA, CEO of ICABC. "Many other provinces are looking to introduce
CPA legislation in 2013 or 2014, and we are hopeful to have CPA
legislation in B.C. soon."
Enacting CPA legislation in B.C. in a timely way keeps the province in
line with the national landscape and the Agreement on Internal Trade.
CPA legislation represents a significant achievement in streamlining
the province's regulatory regime, reducing three Acts to one, with one regulatory body and one set of professional standards,
enhancing protection of the public interest through consistent
regulation for all of B.C.'s designated accountants.
"Canada's largest economies have moved to the CPA designation, and
ensuring we remain tied to a national profession not only strengthens
our capital markets, it ensures labour mobility for our members and
reduces confusion in the marketplace," said Gordon Ruth, CPA, FCGA, CEO
of CGA-BC. "We are proud of what has been achieved in our province, and
B.C. has been seen as a leader by the rest of the country in helping
move this initiative forward in a constructive way."
"Together, we are working with the Minister of Advanced Education to
enact CPA legislation as soon as possible, legally merge, and establish
CPABC, which will be one of the largest professional organizations in
the province with 27,000 designated members," said Vinetta Peek, CPA,
CMA, CMA (Hon.), President and CEO of CMABC. "In the interim, each of
the three bodies have changed its bylaws to regulate how members can
use the CPA designation along with their respective legacy
designations. This will bring BC members in line with Ontario and
Quebec regarding regulation on the use of the CPA designation."
BC's professional accounting bodies, the Institute of Chartered
Accountants of BC (ICABC), the Certified General Accountant Association
of BC (CGA-BC), and the Certified Management Accountants Society of BC
(CMABC) have signed a merger agreement and are working together to
establish the Chartered Professional Accountants of BC (CPABC). When
the merger is complete, CPABC will boast 34,000 members and students.
Currently, accounting bodies representing over 90% of Canada's
professional accountants in every jurisdiction are committed to
unification or have already merged under the CPA banner. For more
information, please visit www.bccpa.ca.
ICABC, CGA-BC, and CMABC protect the public interest through rigorous
educational and certification programs to uphold the highest
professional standards and ethics. The ICABC represents over 11,000
members and just over 1,800 CA students; CMABC represents almost 5,000
members and 1,000 CMA students and candidates; and CGA-BC represents
almost 11,000 CGAs and nearly 5,000 CGA students.
For further information:
For media enquiries, contact:
Diane Chung, Vice-President, Marketing and New Business Development (CMABC)
Telephone: (604) 484-7003
Edward Downing, Director of Communications (CGA-BC)
Telephone: (604) 730-6208
Kerri Wilcox, Director of External Affairs (ICABC)
Telephone: (604) 488-2625