The accounting profession welcomes the tabling of the bill creating the Ordre des CPA du Québec

MONTREAL, March 28, 2012 /CNW Telbec/ - Today, Jean-Marc Fournier, Minister of Justice and Minister responsible for the application of professional legislation, tabled Bill 61, Chartered Professional Accountants Act, that will constitute the Ordre des comptables professionnels agréés (CPA) du Québec. The CA Order, the CGA Order and the CMA Order welcomed the news.

Another milestone in the process to unify the accounting profession in Quebec has therefore been reached. The bill will have to follow the normal steps in Quebec's legislative process before the Ordre des CPA du Québec becomes a reality.

The new single accounting order will encompass all the professional accountants in the province, whether they are currently CAs, CGAs or CMAs. It will result from the pooling of the competencies and expertise of the members of the existing professions. Moreover, the regulations governing the new CPA Order will draw on the best elements of the rules currently in force in the three existing orders, while aiming for the highest professional and ethical standards. Decidedly forward-looking, the accounting profession will be in an even better position to serve the business community and all organizations in Quebec.

The chairs of the three orders are very pleased with this announcement. "The creation of a single order will enhance the protection of the public. With a single accounting designation, and especially a single set of mechanisms to monitor the profession, the new order will clearly be even better equipped to protect the public," stated Manon Durivage, FCA, Chair of the Ordre des CA.

In addition, chartered professional accountants will enjoy increased influence on a global scale. "Not only will the new CPA Order have unprecedented sway with the profession's regulatory bodies, it will also be very attractive to future accountants, employers and the business world," said Stephan Robitaille, FCGA, Chair of the Ordre des CGA.

Lastly, unifying the CA, CGA and CMA professions also means strength in numbers. "The future accounting body will have a membership of 35,000 professional accountants and will form the third largest professional order in Quebec,'' added Charles Auger, FCMA, Chair of the Ordre des CMA. ''In addition to merging the driving forces of the accounting profession, this process will result in increased efficiencies and effectiveness that will benefit the profession as a whole."

A first in Canada
The tabling of the bill also represents a positive development towards the unification of the accounting profession in the rest of Canada since several other provinces are going through a similar process. It seems likely that Quebec will lead the way and that other provinces will soon be following suit.

Until the act comes into force
A number of other steps must still be taken before the unification is officially completed. Until the bill is enacted and comes into force in Quebec, the three existing accounting orders will continue to cooperate fully with the competent authorities to ensure a smooth transition to the new order.

Image with caption: "Logos (CNW Group/Ordre des comptables en management accrédités du Québec (CMA))". Image available at: http://photos.newswire.ca/images/download/20120328_C8681_PHOTO_EN_11673.jpg

Ordre des CA du Québec
Fanie Clément St-Pierre
External Relations Manager
514 982-4615

Ordre des CGA du Québec
Marlène Casciaro
Vice-President, Public Affairs and Communications
514 861-1823, ext. 257

Ordre des CMA du Québec
Ginette Bourbonnais
Media Relations
514 849-1155, ext. 246