TORONTO, Jan. 17, 2012 /CNW/ - The Canadian Institute of Chartered
Accountants (CICA), Certified Management Accountants of Canada (CMA
Canada) and the Certified General Accountants of Canada (CGA-Canada)
have presented to their members a proposed framework for uniting
Canada's accounting profession.
The three national bodies believe uniting the profession would allow
them to better meet the evolving needs of Canadian accountants,
national and international business communities as well as continuing
to protect the public interest. The decision to move forward and
develop this national framework follows an extensive consultation
period involving members, students, governments, regulators, employers,
and the business and academic communities.
The framework calls for the creation of a new designation - Chartered
Professional Accountant or CPA - and a new common certification
program. The Canadian CPA would draw upon the strengths of the existing
three organizations and will become an internationally recognized and
respected business credential.
The framework for unification is based on four fundamental objectives:
To best position the profession to protect the public through the
provision of a common certification program and a single set of high
ethical and practice standards.
To enhance and protect the value of the designation in an increasingly
competitive and global environment.
To contribute to the sustainability and prosperity of the Canadian
To govern the accounting profession in an effective and efficient
"With the world going global it makes sense for Canada's accounting
profession to unite and bring together a unique combination of
expertise to give us a stronger, more influential voice," said Joy
Thomas, MBA, FCMA, C.Dir., president and CEO, CMA Canada. "Internationally, other accounting bodies
are coming to grips with globalization and we cannot stand in
Several international accounting organizations are looking to extend
their global reach. In addition, accounting standards are converging
"There is strength in numbers and we firmly believe the proposed
Canadian CPA designation would be a leading voice both at home and
abroad - one that is independent, influential and respected," said
Kevin Dancey, FCA, president and CEO, CICA. "Greater efficiencies would
result, and the new qualification program would be at least as rigorous
as all legacy programs and encompass financial and management
The structure of the framework is consistent with the unification
process already underway in the Province of Quebec. The Quebec Orders
of CAs, CMAs and CGAs have agreed to unify under the Chartered
Professional Accountant designation.
"As a self-regulated profession, our objective is both to protect and
serve the public, as well as represent our members," said Anthony
Ariganello, FCGA, president and CEO, CGA-Canada. "A unified profession
will best serve the public interest by establishing consistent codes of
professional conduct, disciplinary systems and public accounting
regimes - in addition, it will ensure all Canadian accountants are well
positioned to succeed in a global economy."
The national organizations are circulating the framework and CPA
certification program to their members and the councils and boards of
the provincial and territorial accounting organizations as a platform
to review and consider unification and, as a means to engage members,
governments, regulators and other important stakeholders. As the
Canadian accounting profession is provincially regulated, any
subsequent merger proposals would be issued provincially.
Should Canada's three legacy accounting bodies unite, the combined
profession would be 170,000 strong making it one of the largest in the
More information about the Unification Framework can be found online at www.CPACanada.ca.
About Certified General Accountants of Canada (CGA-Canada)
Founded in 1908, the Certified General Accountants Association of Canada
serves 75,000 Certified General Accountants and students in Canada and
more than 90 countries. Respected accounting and financial management
professionals, CGAs work in industry, finance, government and public
practice. CGA-Canada establishes the designation's certification
requirements and professional standards, offers professional
development, conducts research and advocacy, and represents CGAs
nationally and internationally.
About Certified Management Accountants of Canada (CMA Canada)
With 50,000 members around the world, CMA Canada grants a professional
designation in strategic management accounting® and is responsible for
standards-setting, accreditation, and the continuing professional
development of Certified Management Accountants (CMAs). CMAs provide an
integrating perspective to business decision-making, applying a unique
blend of expertise in accounting, management and strategy to identify
new market opportunities, ensure corporate accountability, and help
organizations maintain a long-term competitive advantage. To optimize
the performance of global enterprises and build strategic management
accounting skills, CMA Canada offers innovative executive development
programs, advanced online courses, and internationally recognized
knowledge management publications.
About Canadian Institute of Chartered Accountants (CICA)
Chartered Accountants (CAs) are Canada's most valued, internationally
recognized profession of leaders in senior management, advisory,
financial, tax and assurance roles. Through their integrity, expertise,
and internationally recognized qualification standards, Canada's 80,000
CAs sustain their influence and leadership position both in Canada and
globally. As trusted business advisors to Canadian organizations of all
sizes, Canada's CAs foster confidence in Canadian business and
contribute to the health and sustainability of Canada's capital markets
and economy. The Canadian Institute of Chartered Accountants (CICA)
represents Canada's CA profession both nationally and internationally.
The CICA is a founding member of the International Federation of
Accountants (IFAC) and the Global Accounting Alliance (GAA).
SOURCE Canadian Institute of Chartered Accountants
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