TORONTO, May 27, 2015 /CNW/ - A new Memorandum of Understanding (MOU) has been announced between the Chartered Professional Accountants of Canada (CPA Canada) and the Chartered Institute of Public Finance and Accountancy (CIPFA) of the United Kingdom.
The MOU extends the capacity of the two organizations to support excellence in public sector financial management. Both have overlapping interests and understand that public financial management is becoming an increasingly important issue for governments, especially with increasing pressures for greater transparency.
"Through the MOU, we can leverage our combined expertise for the benefit of Canada's public service," explained Kevin Dancey, president and CEO, CPA Canada. "Both our organizations strive to serve the public interest and are engaged in building confidence and enhancing the governance processes in public sector institutions."
CPA Canada supports Canada's public sector financial professionals with research, guidance and education. CIPFA specializes in supporting best practices in financial management and governance in the public sector in the U.K. and internationally.
"This MOU is great news for both organizations as they work together in the public interest to advance good public financial management at home and around the world," said Dr. Adrian Pulham, executive director, CIPFA. "In the wake of the sovereign debt crisis the proper management and governance of public resources is one of the most pressing issues of our time and the bedrock of future economic stability and growth. And through working together to share our experience, skills and expertise both organizations will improve their capacity and encourage better public sector financial management wherever they are operating."
The MOU allows CPA Canada and CIPFA to address areas of mutual interest to:
- Explore and enhance education and learning opportunities for public sector financial professionals
- Collaborate on thought leadership, research and advocacy relating to high quality public financial management in Canada
- Address development with a global perspective
CIPFA is the Platinum sponsor of CPA Canada's Awards of Excellence in Public Sector Financial Management (PSFM awards) and was a founding partner in the program seven years ago. The PSFM awards promote innovation, bold leadership and career achievement in the public sector.
The MOU was officially announced this evening in Ottawa at the 2015 edition of the awards.
"The awards dinner was an ideal setting to unveil this new initiative aimed at supporting the critical work of those in finance within Canada's public sector," said Dancey.
About CPA Canada
Canada's accounting profession is uniting under a new single designation, Chartered Professional Accountant (CPA). The profession's national body, Chartered Professional Accountants of Canada (CPA Canada), represents and supports more than 190,000 members across the country. CPAs are valued for their financial and tax expertise, strategic thinking, business insight, management skills and leadership. CPA Canada has consolidated the operations of three national accounting bodies: The Canadian Institute of Chartered Accountants, the Certified General Accountants Association of Canada and The Society of Management Accountants of Canada. CPA Canada conducts research into current and emerging business issues and supports the setting of accounting, auditing and assurance standards for business, not-for-profit organizations and government. It also issues guidance on control and governance, publishes professional literature and develops certification and continuing education programs.
Since its foundation in Manchester in 1885 as the Corporate Treasurers and Accountants Institute, the Chartered Institute of Public Finance and Accountancy (CIPFA) has promoted and ensured the good financial management of public resources. As the world's only professional accountancy body to specialise in public services, CIPFA's portfolio of qualifications are the foundation for a career in public finance and in the good management of public money.
CIPFA champions high performance in public services, translating experience and insight into clear advice and practical services. These include information and guidance, courses and conferences, property and asset management solutions, and extensive advisory services for a range of public sector clients. Globally, CIPFA leads the way in public finance by standing up for sound public financial management and good governance. It works with international aid donors and agencies, partner governments, accountancy bodies and the wider public services as well as private sector partners around the world to advance sound public financial management and support effective and efficient public services.
SOURCE CPA Canada
For further information: Tobin Lambie, Principal, Media, CPA Canada, T: 416-204-3228, C: 647-302-3761, email@example.com, www.cpacanada.ca; Diana Sorace, Manager, Media Relations, CPA Canada, T: 604-694-6700, C: 604-551-4487, firstname.lastname@example.org, www.cpacanada.ca; Matt Patterson, Communications Manager, CIPFA Press office, Office: +44 20 7543 5787, +44 20 7543 5830, email@example.com, www.cipfa.org