TORONTO, Feb. 7, 2013 /CNW/ - The Canadian Institute of Chartered
Accountants (CICA) firmly believes that a nationally coordinated effort
involving many stakeholders is required to improve the financial
literacy of Canadians.
The CICA today appeared before the Standing Senate Committee on Banking,
Trade and Commerce in Ottawa to offer its support for Bill C-28. The
Bill establishes the legislative framework to appoint a Financial
Literacy Leader to coordinate a national effort aimed at helping
Canadians become better money managers.
"Financial literacy requires life-long learning and it must start with
our children and youth," explains Nicholas Cheung, a director with the
CICA, who made the organization's presentation. "Our research shows
that most people surveyed for the CICA in 2012 want more than just
parents or guardians involved. They also feel schools, the financial
services sector, and government all have roles to play."
The CICA would welcome participating in a coordinated approach to assist
Canadians in gaining the financial skills, knowledge and confidence
required to make the best choices for their circumstances.
"While many organizations are working toward a common goal of improved
financial literacy for Canadians, no one organization can effectively
address all of the issues on its own," stresses Cheung. "The
appointment of a Financial Literacy Leader is the critical first step
to achieving a collaborative vision and effort. Helping Canadians
develop financial knowledge is essential if we want a thriving
The CICA is planning to launch a new program in 2013 using its members
to provide community based financial education across Canada. This
initiative will be in addition to the CICA's financial literacy
publications and online resources. The CICA has a website dedicated to
financial literacy (www.financialdecisionsmatter.com)
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 83,000
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
For further information:
or to arrange an interview, contact:
Tobin Lambie, Manager, Media, CICA