Chartered Professional Accountants designation established in Alberta
EDMONTON and CALGARY, June 30, 2015 /CNW/ - On July 1, more than 27,000 accounting professionals from across Alberta will be granted a new designation and come together under a single banner – Chartered Professional Accountant (CPA).
The new CPA designation unites members from the Certified General Accountants of Alberta (CGA), the Certified Management Accountants of Alberta (CMA) and the Institute of Chartered Accountants of Alberta (ICAA) into the Chartered Professional Accountants of Alberta (CPA Alberta), a single professional organization for all of Alberta's designated accountants. This unification positions Alberta alongside other provincial CPA bodies and the national CPA Canada organization.
"This is an exciting time for Alberta's business community. A great deal has been accomplished toward unifying Alberta's designated accounting profession over the last few years and we're thrilled to make it a reality," said Rachel Miller, CEO of CPA Alberta. "We want to extend our appreciation to members of the Government of Alberta, and particularly the Ministry of Jobs, Skills, Training and Labour, for the support and leadership they provided in guiding the CPA governance framework through the legislative process."
Since 2001, CGAs, CMAs and CAs have been governed by the Regulated Accounting Profession Act (RAPA). RAPA brought governance of the three accounting designations under a single piece of legislation. The new Chartered Professional Accountants Act builds on the strengths of RAPA and establishes CPA as the single regulated designation and CPA Alberta as the sole professional accounting organization regulated by provincial legislation.
The new CPA Act outlines that the primary purpose of CPA Alberta is to:
- Protect the public;
- Promote the integrity of the accounting profession;
- Promote and increase the competence of registrants; and
- Regulate the conduct of registrants.
"All three legacy designations have a proud history of achievement and high standards," said Miller. "That won't change. The profession has taken the best qualities and practices of the legacy designations and built on them to ensure CPAs continue to provide the same high level of service and integrity designated accountants have for years."
With the CPA Act now proclaimed, all Alberta CGAs, CMAs and CAs in good standing have been granted the CPA designation.
SOURCE CPA Alberta Joint Venture
Image with caption: "Chartered Professional Accountants (CNW Group/CPA Alberta Joint Venture)". Image available at: http://photos.newswire.ca/images/download/20150630_C8849_PHOTO_EN_430056.jpg
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