TORONTO, March 9, 2012 /CNW/ - The Certified Management Accountants of Ontario (CMA Ontario) named the Office of the Auditor General of Ontario as its first Approved Training Office (ATO) for Certified Management Accountants (CMAs) to gain qualifying practical experience in public accounting.
This announcement follows CMA Ontario's recent approval as an Authorized Designated Body (ADB) by The Public Accountants Council for the Province of Ontario (PAC or Council) to license and govern CMAs to practise public accounting. While CMAs pursuing or interested in pursuing status as a licensed public accountant (LPA) can obtain qualifying practical experience at any ATO recognized by the Institute of Chartered Accountants of Ontario or the Certified General Accountants of Ontario, CMA Ontario is also formally approving ATOs with organizations most likely to attract CMAs pursuing licensure.
"Recognizing the Office of the Auditor General of Ontario as an approved ATO is important for CMA Ontario as it represents an attractive career destination for CMAs," says Merv Hillier, President and CEO, CMA Ontario. "We look forward to working together to further the profession of public accounting."
An ATO is specifically authorized to train students in public accounting and is granted the authority by an ADB, such as CMA Ontario. Offices that employ licensing candidates are required to provide candidates with experience in accounting, auditing, assurance and taxation. In addition to experience requirements, the CMA Ontario public accounting path calls for candidates to qualify for and pass a Technical Proficiency Exam, complete an Integrated Public Accounting Study Program, and successfully challenge the CMA Public Accounting Licensure Examination.
"Our Office is delighted to be the first out of the gate to support CMAs wishing to pursue a licence in public accounting," says Gary Peall, Deputy Auditor General for the Office of the Auditor General of Ontario. We have employed CMAs to assist us in conducting our audits for years, and we have benefited greatly from the skills they bring to the table. As a leader in value-for-money auditing, along with being the statutory financial auditor for many interesting and complex provincial organizations and the province itself, we offer a rich, unique and varied experience to those interested in assurance work," says Peall.
CMA Ontario is a self-governing professional organization that awards the CMA designation to qualified candidates in Ontario. With some 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.
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