VANCOUVER, Dec. 21 /CNW Telbec/ - The general public will benefit from
new legislation adopted by the Quebec National Assembly, earlier this week,
says the Certified General Accountants Association of Canada (CGA-Canada). The
legislation allows Certified General Accountants and other professional
accountants who hold a permit to practice the full scope of public
"This is indeed an historic event. These long-awaited changes to Quebec
legislation mean that CGAs are now able to offer a full-range of services,
including public accountancy, without restriction," said Anthony Ariganello,
President and Chief Executive Officer of CGA-Canada. "The result will be a
much more competitive market for accounting services and, clearly, that's
great news for consumers, businesses as well as employers not only in Quebec
but across Canada."
All accountants in Canada who practice public accountancy - which
consists of expressing an opinion to provide a level of assurance about a
financial statement - must do so according to the same principles and
standards. Prior to the changes to the Quebec legislation, the scope of public
accountancy was restricted. CGA challenged the legislation under the Agreement
on Internal Trade. In 2005, a panel ruled that restrictions on the provision
of public accountancy in Quebec had caused injury and had impaired trade. The
panel recommended legislative reform.
This landmark law eliminates the final legislative barrier in Canada for
CGAs to provide full public accountancy services and ultimately will provide
the choice and competition in the marketplace essential to ensure quality and
reasonable prices. In fact, the federal Competition Bureau reported last week
that barriers to practising public accountancy in Canada have not been
necessary to protect the public.
CGA is the fastest-growing accounting designation in Canada. The CGA
designation focuses on integrity, ethics and the highest education
requirements. Recognized as the country's accounting business leaders, CGAs
provide strategic counsel, financial leadership, and overall direction to all
sectors of the Canadian economy.
The Association sets standards, develops education programs, publishes
professional materials, advocates on public policy issues, and represents CGAs
nationally and internationally. The Certified General Accountants Association
of Canada represents 68,000 CGAs and students in Canada, Bermuda, the
Caribbean, Hong Kong, and China.
For further information:
For further information: Taylore Ashlie, Director, Communications,
CGA-Canada, (604) 605-5055, Cell: (604) 307-0212, firstname.lastname@example.org