CRA & CPA Canada sign framework agreement to enhance working relationship

OTTAWA, Nov. 26, 2014 /CNW/ - The Canada Revenue Agency (CRA) and Chartered Professional Accountants of Canada (CPA Canada) are embarking a new era of greater cooperation and collaboration.

The two organizations today signed a framework agreement that calls for an enhanced working relationship to help Canada maintain a world-class tax system.

The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, Andrew Treusch, Commissioner and Chief Executive Officer, CRA, and Kevin Dancey, President and CEO, CPA Canada, participated in the signing ceremony.

"We value our role as a trusted advisor to the CRA," said CPA Canada's Dancey. "The profession is well positioned to offer valuable input given the significant role it plays in advising and assisting individuals and companies in complying with tax obligations. Both our profession and the CRA look forward to greater collaboration with the best interests of taxpayers remaining a key priority."

The framework agreement calls for the creation of an overarching steering committee to manage seven committees, each co-chaired by senior representatives of the CRA and CPA Canada. The committees will operate under the following headings:

• Services
• Compliance
• Tax Administration
• Scientific Research and Experimental Development
• Commodity Tax
• Red Tape Reduction
• Training

The Committees will not be decision making bodies but will create avenues for issue identification and discussion.

"The CRA works very closely with Canada's accounting professions to ensure an efficient and well-functioning tax system," said Findlay. "This new collaborative arrangement strengthens the already close relationship between the CRA and the Chartered Professional Accountants of Canada by providing a constructive forum for us to work together on a broad range of issues of common interest."

The timing is right for this agreement with the Canada's accounting profession recently moving to one national body. On October 1, 2014, CGA-Canada joined CPA Canada to complete the integration of the country's national accounting bodies.

"It's much easier for CRA to consult with one national body and the new framework only helps facilitate efforts to achieve a common goal of a well-run tax system for Canada," said Dancey.

With integration, Canada now has one of the largest national accounting bodies in the world and CPA Canada is recognized as a strong, influential voice for advancing sound public policy.  

Today's signing ceremony was held in Ottawa, Ontario, during the annual PD Week learning event organized by the Financial Management Institute of Canada.  Minister Findlay, Treusch and Dancey thanked the Institute for making it possible to have financial management professionals in attendance as the framework agreement was signed.

More information about the Canada Revenue Agency – Chartered Professional Accountants of Canada Framework Agreement is available online at http://www.cra-arc.gc.ca/rprsnttvs/cra-cpa-frmwrk/menu-eng.html.

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 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.

Image with caption: "Kerry-Lynne D. Findlay, National Revenue Minister, is flanked by Andrew Treusch, CRA Commissioner (left) and Kevin Dancey, president and CEO, CPA Canada (right) at the signing of a framework agreement between the CRA and CPA Canada, Wednesday, November 26, 2014, in Ottawa. (CNW Group/CPA Canada)". Image available at: http://photos.newswire.ca/images/download/20141126_C2792_PHOTO_EN_8561.jpg

SOURCE: CPA Canada

For further information: Tobin Lambie, principal, CPA Canada, [phone], [email protected], www.cpacanada.ca

Related Links

www.cpacanada.ca