TORONTO, April 8 /CNW/ - A landmark agreement between Certified
Management Accountants of Canada (CMA Canada) and CPA Australia has extended
the global reach of both organizations into new continents, it was announced
today.
The mutual recognition agreement identifies areas for joint initiatives,
including research and advocacy, and gives members enhanced international
mobility.
Richard Monk, Chair of the CMA Canada National Board of Directors, said
the mutual recognition agreement between CPA Australia and CMA Canada will
increase recognition of members of both organizations in the international
marketplace, as well as provide for greater mobility and career opportunities.
"Through their unique skill sets, members of CMA Canada and CPA Australia
make a significant contribution to the growth and success of organizations of
all types," said Monk. "Our strategic alliance with CPA Australia addresses
the needs of both our members and their customers."
CPA Australia President Alex Malley said the new partnership highlighted
the increasingly global nature of the accounting profession.
"Opportunities for accountants are no longer constrained by national
borders," Mr. Malley said. "We believe that partnerships with influential
accounting bodies, such as CMA Canada, allow us to strengthen our position
through knowledge-sharing and collaboration, which benefits our members and
the profession."
The agreement, which comes into effect immediately, details how members
of CMA Canada and CPA Australia can gain reciprocal membership. CMA Canada
members who qualify for membership in CPA Australia will have full rights to
use the CPA designation in Australia and in other CPA Australia jurisdictions.
Conversely, CPA Australia members who qualify for membership in CMA Canada
will have full rights to use the CMA designation in Canada.
CMAs will be eligible for membership in CPA Australia if they have
completed either a course in audit as part of an undergraduate degree program,
or the auditing and assurance services component of the CPA Australia program.
CMAs who wish to practise as public accountants in Australia will be
required to complete assurance, auditing, law and tax programs as prescribed
by CPA Australia, as well as meet regional regulatory requirements where they
exist.
CPAs in Australia who have met educational, professional development and
work experience requirements that are equivalent to CMA Canada accreditation
requirements, and who satisfy admission requirements determined by the
provincial or territorial affiliate in which they live or work, will be
eligible for membership in CMA Canada. CPAs who wish to practise as public
accountants in Canada will be required to complete CMA Canada's
post-designation program in public accounting and meet regulations established
by governments and/or the CMA Canada affiliate in the province or territory in
which they live or work.
About CMA Canada
-----------------
With more than 40,000 certified members around the world, CMA Canada
grants a professional designation in strategic management accounting(TM). CMAs
apply 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. CMAs are the
preferred choice nationally for employers who have an accountant on staff when
hiring for mid- to senior-level financial management positions.
About CPA Australia
--------------------
CPA Australia is the world's seventh largest accounting body,
representing more than 117,000 finance, accounting and business professionals
located predominantly in Australia, Asia and Europe. Currently its members
work in 98 countries, and are serviced by an international network of 18
offices.
For further information: Media inquiries: David Fletcher, Vice
President, Public Affairs, CMA Canada, Mississauga, Ontario, Telephone: (905)
949-3106, Email: dfletcher@cma-canada.org; Bruce Atherton, Communications
Adviser, External Affairs, CPA Australia, +61 (0)3 9606 9729, +61 (0)401 541
756, Email: bruce.atherton@cpaaustralia.com.au
