TORONTO, Nov. 19, 2012 /CNW/ - The Certified Management Accountants of Ontario (CMA Ontario) Board of Directors announced its decision to continue to support unification of the accounting profession efforts currently taking place across the country.
In May 2012, the Board took steps to ensure all potential alternatives for the future direction of the accounting profession in Ontario were explored. Having reviewed the strategic alternatives the Board has announced its decision that unification of the accounting profession under the CPA banner is in the best interests of the public, as well as CMA Ontario and its members.
"The pathway to unification remains complex," says Nigel White, Chair, CMA Ontario Board of Directors. "Quebec has successfully created CPA Quebec, CMA Canada and the CICA are working towards launching CPA Canada in January 2013, and a number of provincial bodies are moving ahead with merger agreements and integration plans."
The Institute of Chartered Accountants of Ontario is currently concentrating on transitioning to the CPA and the creation of CPA Ontario. It is anticipated that this process will need to be completed prior to the initiation of new efforts to join CPA as a member of CPA Ontario.
"While we do look forward to reengaging with the ICAO," says White, "CMA Ontario will continue to focus on building a strong and vibrant CMA brand. In 2012 CMA Ontario graduated more new professional accountants than any other accounting body in any jurisdiction in Canada. All CMAs should feel proud of the strength we have developed in our brand - and the value it brings to the marketplace."
As CMA Ontario moves towards unification, the strength of the CMA brand will continue to be supported both by CMA Ontario and CMA Canada. Programming will continue, partnerships with universities will continue and CMA Ontario will continue to graduate CMAs.
"When unification ultimately becomes a reality, the new CPA Ontario organization will bring together the strengths of both the CA and CMA under a new and stronger designation," says White.
About CMA Ontario
Certified Management Accountants of Ontario is a self-governing professional organization that awards the Certified Management Accountant (CMA) designation to qualified candidates in Ontario. With 25,000 members, CMA Ontario is an integral part of a profession that is 50,000 members strong across Canada and around the world. CMA Ontario maintains rigorous standards of accreditation and professionalism in management accounting to protect the public interest.
In 2012, CMA Ontario was granted status by the Public Accountants Council of Ontario (PAC) as an Authorized Designated Body to license and govern Certified Management Accountants to practise public accounting.
SOURCE: Certified Management Accountants of Ontario
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