VANCOUVER, Jan. 18, 2012 /CNW/ - The Certified General Accountants Association of Canada (CGA-Canada) welcomes the release of today's comprehensive report by the Red Tape Reduction Commission and congratulates the Commission for its dedicated work over the past year. The report provides a number of recommendations towards real and lasting results in tackling red tape and regulatory inefficiencies.
"We wholeheartedly agree that reducing the burden on small and medium size enterprises (SMEs) will inspire new opportunities that boost growth, competitiveness and innovation," says Anthony Ariganello, CGA-Canada's President and CEO. "I am pleased to see that the Commission incorporated the feedback from stakeholders and that the recommendations are aligned with comments CGA-Canada delivered to the Red Tape Reduction Commission."
In particular, CGA-Canada notes the following recommendations:
- Implementing One-for-One legislation - every time the government proposes a new regulation, it must eliminate one existing regulation;
- Cutting the cumulative regulatory burden, which is detrimental to SMEs;
- Applying a small business lens to regulatory policy before changes are made or new policies are adopted;
- Using plain language and providing clear, definitive interpretations of the rules.
"I am also glad to see the specific call for the Auditor General of Canada to be given the mandate to review and report on the progress in reducing regulatory administrative burden. We urge the President of the Treasury Board to move swiftly to implement this and all other recommendations," continued Ariganello.
The SME sector has long been an area of interest and concern for CGA-Canada and its members. The current volume, duplication and complexity of regulatory requirements put unnecessary pressure on entrepreneurship, business growth and job creation.
"We will continue to work with the government to take meaningful action and implement permanent solutions for Canadian SMEs," says Ariganello. "The creation of an expert panel to simplify Canada's tax regime is one significant proposal we'd like to explore."
CGA-Canada would also like to see the development of a pan-Canadian approach to address the accumulated effects of regulatory burden throughout all levels of government. Even the Commission recognizes there are larger inter-jurisdictional issues at hand in order for Canada to truly become a global leader in red tape reduction.
For more details on CGA-Canada's recommendations consult its submission to the Red Tape Reduction Commission: http://cga-p.cga-canada.net/en-CA/DiscussionPapers/ca_rep_submission_red_tape_reduction_commission_2011.pdf
Founded in 1908, the Certified General Accountants Association of Canada serves 75,000 Certified General Accountants and students in Canada and more than 90 countries. Respected accounting and financial management professionals, CGAs work in industry, finance, government and public practice. CGA-Canada establishes the designation's certification requirements and professional standards, offers professional development, conducts research and advocacy, and represents CGAs nationally and internationally.
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Email: [email protected]