Chartered Professional Accountant: Difference between revisions
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:* [[Certified Management Accountants of Canada|Certified Management Accountant]] ([[Certified Management Accountant|CMA]]).<ref>[http://cpacanada.ca/ CPA Canada]</ref> |
:* [[Certified Management Accountants of Canada|Certified Management Accountant]] ([[Certified Management Accountant|CMA]]).<ref>[http://cpacanada.ca/ CPA Canada]</ref> |
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The CPA designation has been in use by members of all legislated provincial and territorial accounting bodies since 2014. <ref>{{Cite web|url=https://www.cpacanada.ca/en/the-cpa-profession/uniting-the-canadian-accounting-profession/unification-news-archive/190000-pros-one-designation|title=It’s official! 190,000 PROS, one designation|website=www.cpacanada.ca|language=en|access-date=2017-06-04}}</ref><ref>{{Cite news|url=https://www.theglobeandmail.com/report-on-business/canadian-accountants-merge-under-cpa-designation/article19299464/|title=Canadian accountants merge under CPA designation|last=McFARLAND|first=JANET|date=2014-06-23|access-date=2017-06-04|language=en-ca}}</ref> As of May 2017, CPA legislation was in place in all provinces and territories, replacing legislation for the CA, CGA and CMA designations. |
The CPA designation has been in use by members of all legislated provincial and territorial accounting bodies since 2014. <ref>{{Cite web|url=https://www.cpacanada.ca/en/the-cpa-profession/uniting-the-canadian-accounting-profession/unification-news-archive/190000-pros-one-designation|title=It’s official! 190,000 PROS, one designation|website=www.cpacanada.ca|language=en|access-date=2017-06-04}}</ref><ref name=":0">{{Cite news|url=https://www.theglobeandmail.com/report-on-business/canadian-accountants-merge-under-cpa-designation/article19299464/|title=Canadian accountants merge under CPA designation|last=McFARLAND|first=JANET|date=2014-06-23|access-date=2017-06-04|language=en-ca}}</ref> As of May 2017, CPA legislation was in place in all provinces and territories, replacing legislation for the CA, CGA and CMA designations.<ref name=":0" /> |
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==Background== |
==Background== |
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"Chartered Professional Accountant" is borrowed from a similar but aborted Australian merger attempt in 1998.<ref>{{Cite web|title = ACCC not concerned by key accounting bodies' merger|url = http://www.accc.gov.au/media-release/accc-not-concerned-by-key-accounting-bodies-merger|date = August 1998|accessdate = 2014-04-24}}</ref> It has been registered as an EU [[Community Trade Mark|Community trademark]] by the [[Institute of Chartered Accountants in England and Wales]].<ref>{{cite web|title = Case details for trade mark EU010564508|url = http://www.ipo.gov.uk/tmcase/Results/4/EU010564508|date = 16 January 2012|publisher = UK Intellectual Property Office}}</ref> However, applications to register "CPA" as such were either withdrawn<ref>{{cite web|title = Case details for trade mark UK00002564752|url = http://www.ipo.gov.uk/tmcase/Results/1/UK00002564752|publisher = UK Intellectual Property Office}}</ref> or refused.<ref>{{cite web|title = Case details for trade mark UK00002588313|url = http://www.ipo.gov.uk/tmcase/Results/1/UK00002588313|publisher = Intellectual Property Office}}</ref> |
"Chartered Professional Accountant" is borrowed from a similar but aborted Australian merger attempt in 1998.<ref>{{Cite web|title = ACCC not concerned by key accounting bodies' merger|url = http://www.accc.gov.au/media-release/accc-not-concerned-by-key-accounting-bodies-merger|date = August 1998|accessdate = 2014-04-24}}</ref> It has been registered as an EU [[Community Trade Mark|Community trademark]] by the [[Institute of Chartered Accountants in England and Wales]].<ref>{{cite web|title = Case details for trade mark EU010564508|url = http://www.ipo.gov.uk/tmcase/Results/4/EU010564508|date = 16 January 2012|publisher = UK Intellectual Property Office}}</ref> However, applications to register "CPA" as such were either withdrawn<ref>{{cite web|title = Case details for trade mark UK00002564752|url = http://www.ipo.gov.uk/tmcase/Results/1/UK00002564752|publisher = UK Intellectual Property Office}}</ref> or refused.<ref>{{cite web|title = Case details for trade mark UK00002588313|url = http://www.ipo.gov.uk/tmcase/Results/1/UK00002588313|publisher = Intellectual Property Office}}</ref> |
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=== History === |
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For more than 100 years, Canada had three accounting designations: chartered accountant, certified management accountant and certified general accountant. In time, it became increasingly harder to distinguish between these. The Quebec government undertook a review which resulted in the goal of a merger under common regulations.<ref>{{Cite news|url=http://www.macleans.ca/work/jobs/accounting-designations-get-together/|title=Accounting designations get together - Macleans.ca|date=2013-09-24|work=Macleans.ca|access-date=2017-06-04|language=en-US}}</ref> |
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Registration as a Canadian trademark was originally sought by the ''Ordre des comptables agréés du Québec'' in September 2010, but the application lapsed.<ref>{{cite web|title = Canadian trade-mark data: Application 0920675 |url = http://www.ic.gc.ca/app/opic-cipo/trdmrks/srch/vwTrdmrk.do?lang=eng&status=OK&fileNumber=0920675&extension=0&startingDocumentIndexOnPage=1|publisher = Industry Canada}}</ref> It was subsequently secured by the Institute of Chartered Accountants of Ontario in August 2011.<ref>{{cite web|title = Canadian trade-mark data: Application 0921244|url = http://www.ic.gc.ca/app/opic-cipo/trdmrks/srch/vwTrdmrk.do?lang=eng&status=OK&fileNumber=0921244&extension=0&startingDocumentIndexOnPage=1|publisher = Industry Canada}}</ref> |
Registration as a Canadian trademark was originally sought by the ''Ordre des comptables agréés du Québec'' in September 2010, but the application lapsed.<ref>{{cite web|title = Canadian trade-mark data: Application 0920675 |url = http://www.ic.gc.ca/app/opic-cipo/trdmrks/srch/vwTrdmrk.do?lang=eng&status=OK&fileNumber=0920675&extension=0&startingDocumentIndexOnPage=1|publisher = Industry Canada}}</ref> It was subsequently secured by the Institute of Chartered Accountants of Ontario in August 2011.<ref>{{cite web|title = Canadian trade-mark data: Application 0921244|url = http://www.ic.gc.ca/app/opic-cipo/trdmrks/srch/vwTrdmrk.do?lang=eng&status=OK&fileNumber=0921244&extension=0&startingDocumentIndexOnPage=1|publisher = Industry Canada}}</ref> |
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In January 2012, ''A Framework for Uniting the Canadian Accounting Profession'' was issued by the following three organizations: the Canadian Institute of Chartered Accountants (CICA), the Society of Management Accountants of Canada (CMA Canada) and Certified General Accountants of Canada (CGA-Canada). This framework set out a proposal to unite members of the existing designations and their 40 national and provincial accounting bodies under a new Canadian Chartered Professional Accountant (CPA) designation.<ref>{{Cite web|url=https://www.cpacanada.ca/en/the-cpa-profession/uniting-the-canadian-accounting-profession/uniting-the-accounting-profession-a-framework|title=A framework for uniting the Canadian accounting profession|website=www.cpacanada.ca|language=en|access-date=2017-06-04}}</ref> |
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On October 1, 2014, national amalgamation of Canada’s accounting profession reached completion with the integration of the CGA-Canada and CPA Canada, placing all of Canada’s recognized national accounting bodies under the singular CPA banner.<ref>{{Cite web|url=http://news.gc.ca/web/article-en.do?nid=890179|title=Canada News Centre - Archived - Minister Findlay congratulates CPA Canada on their official unification|last=Agency|first=Government of Canada,Canada Revenue|date=2014-10-03|website=news.gc.ca|language=en|access-date=2017-06-04}}</ref> The Canadian CPA designation has since grown to more than 210,000 members in Canada and around the world.<ref>{{Cite news|url=http://www.fox34.com/story/35133294/memorandum-of-understanding-between-canadian-cpa-bodies-and-the-institute-of-chartered-accountants-of-pakistan|title=Memorandum of Understanding between Canadian CPA bodies and the Institute of Chartered Accountants of Pakistan|access-date=2017-06-04|language=en}}</ref> |
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===Reason for Canadian adoption=== |
===Reason for Canadian adoption=== |
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[[File:CPA-Image123.jpg|right|200px]] |
[[File:CPA-Image123.jpg|right|200px]] |
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The move to adopt the CPA designation was the latest of a series of consolidating moves that has affected the Canadian accounting profession between 1880 and 2010,{{sfn|Richardson|Kilfoyle|2012}} of which the last significant merger occurred between Canadian chartered accountants and certified public accountants in the 1960s.{{sfn|Richardson|Jones|2007|pp=146{{en dash}}151}} Several attempts were made to merge the CGAs and CMAs during the 1960s, as well as of all three bodies during the 1970s.{{sfn|Richardson|1996|p=91}} A subsequent merger attempt between chartered accountants and certified management accountants occurred in 2004, being promoted by their leaders but failing to secure adequate membership support.{{sfn|Richardson|Jones|2007|pp=151{{en dash}}156}} |
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⚫ | In 2011, all three main bodies agreed to work towards a merger that would see a new organization with 180,000 professional members and 10,000 candidates and registered students. This new accounting body would be one of the largest in the world.<ref>{{Cite web|title = Uniting the Canadian accounting profession|url = http://cpacanada.ca/wp-content/uploads/2011/12/Position_Paper.pdf|date = May 2011|accessdate = 2012-05-01}}</ref> Proponents of the 2012 proposal to unite the profession under the CPA argued that it would strengthen the influence, relevance and contribution of the Canadian accounting profession with domestic and international stakeholders and serve the public interest through common codes of conduct, disciplinary systems and licensing regimes.<ref>{{Cite news|url=http://business.financialpost.com/fp-comment/let-ca-cma-and-cga-give-way-to-cpa|title=Let CA, CMA and CGA give way to CPA|work=Financial Post|access-date=2017-06-04|language=en}}</ref> |
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The guiding principles for the unification were expressed to be: |
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⚫ | In 2011, all three main bodies agreed to work towards a merger that would see a new organization with 180,000 professional members and 10,000 candidates and registered students. This new accounting body would be one of the largest in the world.<ref>{{Cite web|title = Uniting the Canadian accounting profession|url = http://cpacanada.ca/wp-content/uploads/2011/12/Position_Paper.pdf|date = May 2011|accessdate = 2012-05-01}}</ref> |
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:* Evolution to a single designation over a 10-year transition period |
:* Evolution to a single designation over a 10-year transition period |
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:* Continued use of existing designations |
:* Continued use of existing designations (used in combination with the CPA, e.g.:CPA, CGA) |
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:* Retention but no expansion of rights (ie, current [[mutual recognition agreement]]s would be confined to legacy members concerned) |
:* Retention but no expansion of rights (ie, current [[mutual recognition agreement]]s would be confined to legacy members concerned) |
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:* A uniform certification process for new members |
:* A uniform certification process for new members |
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:* Merged operations and governance<ref>{{Cite web|title = Now is the time to secure our future|url = http://cpacanada.ca/wp-content/uploads/2011/12/Unification_Framework.pdf|date = May 2011|accessdate = 2012-05-01}}</ref> |
:* Merged operations and governance<ref>{{Cite web|title = Now is the time to secure our future|url = http://cpacanada.ca/wp-content/uploads/2011/12/Unification_Framework.pdf|date = May 2011|accessdate = 2012-05-01}}</ref> |
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While the merger proposal |
While the merger proposal was framed in a national context, approval had to be undertaken on a province-by-province basis, as recognition of professional status has been accepted as a matter of provincial jurisdiction since 1911.{{efn|After a 1908 Act granting the ICAO exclusive rights to the CA designation<ref>{{Cite canlaw|short title = An Act to revise and amend The Chartered Accountants Act|abbr = S.O.|year = 1908|chapter = 42|link = https://archive.org/stream/statutesofprovin1908onta#page/386/mode/2up}}</ref> was [[Disallowance and reservation|disallowed]] in 1909,<ref>{{cite web|title = P.C. 870: Disallowance Statute of Ontario, Cap. 42., intituled An Act to Revise and Amend the Chartered Accountants Act - Min. Just. |url = http://www.collectionscanada.gc.ca/databases/orders/001022-119.01-e.php?&sisn_id_nbr=129618&page_sequence_nbr=1&interval=20&&PHPSESSID=tdt5nh3t9kij5upqh8e00cu393|date = April 19, 1909|publisher = Privy Council Office}}, {{cite web|title = P.C. 871: Disallowance Ontario Act re. Chartered Accountants |url = http://www.collectionscanada.gc.ca/databases/orders/001022-119.01-e.php?&sisn_id_nbr=129619&page_sequence_nbr=1&interval=20&&PHPSESSID=ac6b4r8eth8q4ufb6e6cs9i487|date = April 23, 1909|publisher = Privy Council Office}}</ref> and a subsequent 1910 Act<ref>{{Cite canlaw|short title = An Act to revise and amend The Chartered Accountants Act|abbr = S.O.|year = 1910|chapter = 79|link = https://archive.org/stream/statutesofprovin1910onta#page/670/mode/2up}}</ref> was disallowed in 1911,<ref>P.C. 610, P.C. 611 (March 24, 1911)</ref> the ICAO and DACA leaders subsequently met and reached an agreement in which DACA would be reorganized as a federation of the provincial Institutes.{{sfn|Richardson|1993|pp=220{{en dash}}221}} The Act was subsequently passed again in 1911, with concession granted to accountants who were members of DACA on December 16, 1909.<ref>{{Cite canlaw|short title = An Act respecting Chartered Accountants|abbr = S.O.|year = 1911|chapter = 48|link = https://archive.org/stream/statutesofprovin1911onta#page/410/mode/2up}}</ref>}} The concept of unification received significant support from business stakeholders and accounting academics.<ref>{{Cite web|author = Deirdre McMurdy|title = The changing accounting landscape |url = http://www.camagazine.com/archives/print-edition/2011/dec/upfront/camagazine53782.aspx|publisher = ''CA Magazine''|date = December 2011|accessdate = 2012-05-31}}</ref><ref>{{Cite web|title = Consultation with leading stakeholders - Report of key findings|url = http://cpacanada.ca/wp-content/uploads/2012/05/Proposed-Unification-of-the-Canadian-Accounting-ProfessionFINAL-May-25.pdf|date = May 2012|accessdate = 2012-05-31}}</ref><ref>{{Cite web|author = William Lahey, [[Dalhousie University]]|title = Self-Regulation and Unification Discussions in Canada’s Accounting Profession|url = http://cpacanada.ca/wp-content/uploads/2012/05/Self-Regulation-and-Unification-Discussions-Final_title.pdf|accessdate = 2012-05-31}}</ref> |
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{{Horizontal timeline |
{{Horizontal timeline |
Revision as of 10:05, 4 June 2017
This article may require cleanup to meet Wikipedia's quality standards. The specific problem is: Dated, does not indicate new process / merger impact. (April 2014) |
Chartered Professional Accountant (CPA) (French: comptable professionnel agréé) is the professional designation established to unite three Canadian accounting designations under the CPA banner:
The CPA designation has been in use by members of all legislated provincial and territorial accounting bodies since 2014. [2][3] As of May 2017, CPA legislation was in place in all provinces and territories, replacing legislation for the CA, CGA and CMA designations.[3]
Background
Origin of name
"Chartered Professional Accountant" is borrowed from a similar but aborted Australian merger attempt in 1998.[4] It has been registered as an EU Community trademark by the Institute of Chartered Accountants in England and Wales.[5] However, applications to register "CPA" as such were either withdrawn[6] or refused.[7]
History
For more than 100 years, Canada had three accounting designations: chartered accountant, certified management accountant and certified general accountant. In time, it became increasingly harder to distinguish between these. The Quebec government undertook a review which resulted in the goal of a merger under common regulations.[8]
Registration as a Canadian trademark was originally sought by the Ordre des comptables agréés du Québec in September 2010, but the application lapsed.[9] It was subsequently secured by the Institute of Chartered Accountants of Ontario in August 2011.[10]
In January 2012, A Framework for Uniting the Canadian Accounting Profession was issued by the following three organizations: the Canadian Institute of Chartered Accountants (CICA), the Society of Management Accountants of Canada (CMA Canada) and Certified General Accountants of Canada (CGA-Canada). This framework set out a proposal to unite members of the existing designations and their 40 national and provincial accounting bodies under a new Canadian Chartered Professional Accountant (CPA) designation.[11]
On October 1, 2014, national amalgamation of Canada’s accounting profession reached completion with the integration of the CGA-Canada and CPA Canada, placing all of Canada’s recognized national accounting bodies under the singular CPA banner.[12] The Canadian CPA designation has since grown to more than 210,000 members in Canada and around the world.[13]
Reason for Canadian adoption
The move to adopt the CPA designation was the latest of a series of consolidating moves that has affected the Canadian accounting profession between 1880 and 2010,[14] of which the last significant merger occurred between Canadian chartered accountants and certified public accountants in the 1960s.[15] Several attempts were made to merge the CGAs and CMAs during the 1960s, as well as of all three bodies during the 1970s.[16] A subsequent merger attempt between chartered accountants and certified management accountants occurred in 2004, being promoted by their leaders but failing to secure adequate membership support.[17]
In 2011, all three main bodies agreed to work towards a merger that would see a new organization with 180,000 professional members and 10,000 candidates and registered students. This new accounting body would be one of the largest in the world.[18] Proponents of the 2012 proposal to unite the profession under the CPA argued that it would strengthen the influence, relevance and contribution of the Canadian accounting profession with domestic and international stakeholders and serve the public interest through common codes of conduct, disciplinary systems and licensing regimes.[19]
The guiding principles for the unification were expressed to be:
- Evolution to a single designation over a 10-year transition period
- Continued use of existing designations (used in combination with the CPA, e.g.:CPA, CGA)
- Retention but no expansion of rights (ie, current mutual recognition agreements would be confined to legacy members concerned)
- A uniform certification process for new members
- Introduction of post-certification specialty programmes
- Branding the CPA designation, with de-emphasis of legacy designations
- Common code of conduct, regulations and the practice of public accountancy
- Merged operations and governance[20]
While the merger proposal was framed in a national context, approval had to be undertaken on a province-by-province basis, as recognition of professional status has been accepted as a matter of provincial jurisdiction since 1911.[a] The concept of unification received significant support from business stakeholders and accounting academics.[27][28][29]
Merger process by province and territory
Rollout of implementation
The merger process, while introduced nationally, is proceeding at different stages provincially. All provincial and territorial accounting bodies have agreed to implement the new designation, with the following progress achieved:
- = bill under consideration
- = passage of bill
Jurisdiction | Enabling legislation | Royal assent | In force | Designation in effect |
---|---|---|---|---|
British Columbia | Miscellaneous Statutes Amendment Act, 2014, S.B.C. 2014, c. 14 | May 29, 2014 | May 29, 2014[a 1] | September 18, 2013 (CA) September 20, 2013 (CGA) November 9, 2013 (CMA) |
Chartered Professional Accountants Act, S.B.C. 2015, c. 1 | March 25, 2015 | June 24, 2015[30] | ||
Yukon | Chartered Professional Accountants Act, S.Y. 2016, c. 8 | May 19, 2016 | Interim board appointed June 17, 2016[31] Act in force July 18, 2016[32] |
July 18, 2016 |
Alberta | Chartered Professional Accountants Act, S.A. 2014, c. C-10.2 | December 17, 2014 | July 1, 2015[33] | July 1, 2015 |
Northwest Territories | ||||
Nunavut | ||||
Saskatchewan | The Accounting Profession Act, S.S. 2014, c. A-3.1 | May 14, 2014[34] | November 10, 2014[35][36] | November 10, 2014 |
Manitoba | The Chartered Professional Accountants Act, S.M. 2015, c. 5
(C.C.S.M., c. C71) |
June 30, 2015 | ss. 99-100,[a 2] 109-110[a 3] on June 30, 2015 s. 38(2)-(4)[a 4] on September 1, 2016[a 5] remainder of Act on September 1, 2015[37] |
July 15, 2015[38] |
Ontario | Chartered Professional Accountants of Ontario Act, 2017, S.O. 2017, c. 8, Sch. 3 | May 17, 2017 | May 17, 2017 | November 1, 2012 (CA) April 1, 2014 (CMA) July 2, 2014 (CGA)[39] |
Quebec | Chartered Professional Accountants Act, S.Q. 2012, c. 11 | May 16, 2012 | May 16, 2012 | May 16, 2012 |
New Brunswick | Chartered Professional Accountants Act, S.N.B. 2014, c. 28 | May 21, 2014 | September 1, 2014 | September 1, 2014 |
Nova Scotia | Chartered Professional Accountants Act, S.N.S. 2015, c. 5 | May 11, 2015[40] | ss. 13, 14(2)-(5) and 15[a 6] on July 1, 2015[41] remainder of Act on May 11, 2015 |
July 1, 2015 |
Chartered Professional Accountants Act, S.N.S. 2015, c. 30 | December 18, 2015 | August 2, 2016[42][a 7] | ||
Prince Edward Island | Chartered Professional Accountants and Public Accounting Act, S.P.E.I. 2014, c. 2 | November 27, 2014[43] | April 1, 2015[44] | May 1, 2014[45] |
Newfoundland and Labrador | Chartered Professional Accountants and Public Accountants Act, S.N.L. 2014, c. C-10.1 | December 16, 2014[46] | January 9, 2015 | January 9, 2015 |
Bermuda | Institute of Chartered Accountants of Bermuda Amendment Act 2014 (PDF) (8). 2014.[b] | March 26, 2014 | April 11, 2014[47] | April 11, 2014 |
- ^ With respect only to authorization of the designation's use by members of the three BC accounting bodies
- ^ Offences
- ^ Interim title restrictions and transitional board
- ^ Exclusive right to provide reserved public accounting services
- ^ one year after proclamation of Act
- ^ Use of legacy and protected designations; offences
- ^ At which time the previous Act was repealed.
The implementation has been greeted with little controversy, with implementing bills generally receiving quick passage. In Manitoba, passage was delayed for several months because of political controversy in the Legislative Assembly of Manitoba relating to Premier Greg Selinger, culminating in the 2015 NDP leadership election.[48] No explanation has been given as to the three-year delay for implementation in Ontario.
Variations in implementation
Because of local variations in the development of the accounting profession in each jurisdiction, there are differences in the various Acts that have been adopted with respect to such matters as the identification of public accountants, protection for those members who possessed predecessor designations that were subsumed by the current CA, CGA and CMA designations, and certain phrases that are reserved to holders of the new designation:
Jurisdiction | Identification as public accountant | Protected heritage designations | Protected descriptions | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAPA[a 1] | ACA[a 2] | APA[a 3] | CPA*[a 4] | GA[a 5] | RIA[a 6] | professional accountant | public accountant | auditor | qualified auditor | accountant | certified accountant | recognized accountant | ||
British Columbia | [a 7] | [a 8] | ||||||||||||
Yukon | [a 7] | [a 8] | ||||||||||||
Alberta | ||||||||||||||
Northwest Territories | [a 9] | |||||||||||||
Nunavut | [a 10] | |||||||||||||
Saskatchewan | ||||||||||||||
Manitoba | [a 11] | [a 12] | ||||||||||||
Ontario | LPA[a 13][a 14] | [a 15] | [a 16] | |||||||||||
Quebec | Auditor[a 17][a 18] | |||||||||||||
New Brunswick | [a 19] | |||||||||||||
Nova Scotia | Public Accountant[a 20] | [a 20] | ||||||||||||
Prince Edward Island | ||||||||||||||
Newfoundland and Labrador | LPA[a 13] | [a 21] | ||||||||||||
Bermuda |
- ^ Associate of the Accredited Public Accountants
- ^ Associate of the Chartered Accountants
- ^ Accredited Public Accountant
- ^ Certified Public Accountant
- ^ General Accountant
- ^ Registered Industrial Accountant
- ^ a b or Certified Public Auditor
- ^ a b or the initials "PA"
- ^ protected by virtue of the Institute of Chartered Accountants Act, R.S.N.W.T. 1988, c. I-3, s. 11
- ^ protected by virtue of the Chartered Accountants Act, S.N.W.T.(Nu) 1998, c. 38, s. 2. 2017-05-01.
- ^ or Public Accountant
- ^ or Certified Practising Accountant
- ^ a b Licensed Public Accountant
- ^ required under PACPO Standard 17(4)(g)
- ^ protected by virtue of the Public Accounting Act, 2004, S.O. 2004, c. 8
- ^ in relation to the holder of an accounting designation, it does not extend to an accountant that does not reside, have an office in, or offers or provides accounting services in, Ontario
- ^ in French, "auditeur" or "auditrice"
- ^ attached to principal designation, expressed as "CPA Auditor", "CPA auditeur" or "CPA auditrice"
- ^ known as Registered Industrial and Cost Accountant
- ^ a b protected by virtue of the Public Accountants Act, R.S.N.S. 1989, c. 369
- ^ legacy designation: holders must identify themselves as "ACPA, ACA"
In addition, Yukon and British Columbia have several other protected designations in use:
- AAT ("Associate Accounting Technologist")
- ACPA ("Associate of the Chartered Professional Accountants")
Yukon also grants an honorary designation known as "CPA (Hon)".
Alberta has opted to allow all those with legacy designations to use them in conjunction with "CPA" during the first 10 years from July 1, 2015, or to use "CPA" on its own immediately.[49]
Implementation in Quebec
The unification initiative was the fifth such move since 1973, in which Quebec's accounting bodies sought to merge.[50]
On March 28, 2012, a bill was tabled in the National Assembly of Quebec to create the Ordre des comptables professionnels agréés du Québec. It subsequently received Royal Assent on May 16, 2012, and went into force on the same date. Among the more notable provisions of the Act:
- Section 4 reserves the practice of public accountancy to CPAs that hold public accountancy permits issued by the Ordre. In this respect, "public accountancy" is defined as the performance of audit engagements, review engagements, compilation engagements or the issuing of any certification, declaration or opinion on financial statements (that are not strictly intended for internal management purposes).
- Section 7 provides that CPAs that hold public accountancy permits must use the term "Auditor" immediately after the designation of "Chartered Professional Accountant" or its initials, as in "CPA Auditor".
- Section 13 prohibits the use of the phrases "expert-comptable", "professional accountant" and "public accountant" by anyone in the province who is not a member of the new Ordre. "Chartered Professional Accountant", Auditor, Chartered Accountant, Certified General Accountant, and Certified Management Accountant, together with their related initials, are also protected designations under the Act.
- Section 62 provides that existing Quebec CAs, CGAs and CMAs as at the date the Act came into force, for a period of 10 years, must add their legacy designation immediately after that of CPA, as in "CPA, CA", "CPA, CGA" or "CPA, CMA". For those who hold public accountancy permits, Section 63 provides that the corresponding combination will be "CPA Auditor, CA", "CPA Auditor, CGA" or "CPA Auditor, CMA".
Implementation in Ontario
The implementation of the designation in Ontario has followed a complex route:
- On May 15, 2012, CGAs and CMAs in Ontario announced that they were withdrawing from merger discussions in that province.[51][52][53]
- On October 25, 2012, the Institute of Chartered Accountants of Ontario announced the adoption of bylaw and regulation amendments to provide for the implementation of the CPA designation with respect to its members effective November 1, 2012, with mandatory usage from July 1, 2013.[39] This was said to be possible as "CPA" became a protected designation within the control of the Institute following the 1960s merger with the province's certified public accountants.,[54][c] but is currently based upon trademark registration.[56]
- On November 16, 2012, CMA Ontario announced that it intended to reenter discussions, but only after ICAO had undertaken the creation of CPA Ontario.[57]
- On November 27, 2012, CGA Ontario announced that it still favoured integration, but only "under the right circumstances".[58]
- On May 1, 2013, both the ICAO and CMA Ontario released statements to their members notifying them that their organizations have entered into a Memorandum of Understanding (MOU), signalling the commencement of formal unification negotiations, following the official merger of the national CA and CMA organizations. A proposal was introduced to the members in May, with subsequent approval by members from both organizations in June 2013.[59][60]
- In June 2013, the ICAO adopted the business name of "Chartered Professional Accountants of Ontario" ("CPA Ontario").[61]
- On October 24, 2013, CGA Ontario returned to unification discussions[62] and announced that they had also signed the MOU as of February 3, 2014.[63]
- Effective April 1, 2014, CMA Ontario members officially became associate members of CPA Ontario, thus entitled to use the CPA designation.[39]
- On May 1, 2014, a unification agreement was announced between CPA Ontario and CGA Ontario, subject to ratification by the latter's members. Contingent on such ratification, CGA Ontario members are scheduled to become associate members of CPA Ontario on July 2, 2014, and operational transitions will be complete by March 2015. Provision is made for proportionate representation from the legacy accounting bodies over a three-year period and retention of legacy designations until November 2022. Licensing of public accountants will continue to be administered by the Public Accountants Council for the Province of Ontario.[64]
- On June 18, 2014, it was announced that the unification agreement had been approved by both sides, with effect from July 2014.[65]
- On April 27, 2017, as part of the 2017 Ontario Budget, Finance Minister Charles Sousa announced that the merger would be going ahead,[66] and implementing legislation was introduced that day as part of the Budget implementation bill. The bill received Royal Assent and came into force on May 17, 2017,[67] with no amendments relating to the CPA amalgamation. Prior to third reading, hearings were held for one day by the Legislature's Standing Committee on Finance and Economic Affairs, at which the Institute of Management Accountants, the Association of International Certified Professional Accountants and the Association of Chartered Certified Accountants appeared to protest restrictions that effectively bar their members from identifing themselves by their professional designations in many circumstances, and one witness declared that "the suppression of international credentials is an exercise in overkill."[68] No amendments were brought forth for discussion before the committee reported back.[69]
Because of Ontario's separate licensing régime for public accountants, those holding licenses from the PACPO must identify themselves as "Licensed Public Accountants" or post the initials "LPA" immediately after their professional designation, such as "CPA, LPA", "CPA, CA, LPA", "CPA, CGA, LPA" or "CPA, CMA, LPA".
The Ontario Act has several unique features:
- While it does not "affect or interfere with the right of any individual who is not a member of CPA Ontario to practise as an accountant,"[70] no individual other than a member of CPA Ontario may take or use a protected designation or related initials "whether alone or combined or intermixed in any manner with any other words or abbreviations,"[71] except under very restricted conditions.[72] This prohibition extends to CPAs from other provinces and territories.
- Unlike most other provinces, "Certified Public Accountant" is not itself regarded as a protected designation.
- The 2007 repeal of the previous CPA Act is only mentioned in a provision declaring that any assets or liabilities of the previous Certified Public Accountants Association of Ontario are vested in the new CPA Ontario body.[73]
Implementation in British Columbia
In May 2013, a merger agreement was announced with respect to all three accounting bodies in the province.[74] Pending the necessary legislative measures to create an amalgamated body,[75] the designation was introduced in BC after the passage of by-laws by all organizations, as ratified in the Miscellaneous Statutes Amendment Act, 2014 by the Legislative Assembly of British Columbia. The actual implementing legislation for amalgamating the three bodies received Royal Assent in March 2015, and came into force in June 2015.
Implementation in Nova Scotia
Unlike other jurisdictions, Nova Scotia decided not to amalgamate its legacy accounting bodies into the new CPA provincial body. It has instead declared that members of the legacy bodies must pair their legacy designation with the new CPA designation. In a news release (subsequently affirmed during debate on the bill's second reading),[76] the Province noted that this was the first of two steps in the process, with merger of the three accounting bodies and updating the regulatory framework taking place at a later date.[77] A subsequent Act was passed in December 2015 to effect the amalgamation, which came into force on August 2, 2016. A companion Act was passed at the same time to expand the role of the Public Accountants Board of Nova Scotia, so that it can issue separate licenses for performing auditing and non-auditing functions.[78] That Act substantially came into force on the same date, with the exception of certain provisions allowing the licensing of public accountants from outside the Province.[79]
The initial Chartered Professional Accountants Act received Royal Assent on May 11, 2015, while the relevant provisions relating to the use of the new designation came into force on July 1, 2015.[80] For the next 10 years, previously designated professional accountants in Nova Scotia are required to use both the CPA designation and their legacy designation (CA, CGA, or CMA) in the following format:
First Name and Last Name, CPA, CA
First Name and Last Name, CPA, CGA
First Name and Last Name, CPA, CMA[81]
Establishing a new national body
In July 2012, the CICA and CMA Canada boards approved the commencing of work to establish CPA Canada as the national body for the unified profession. On establishment, the first priority will be the creation of the new CPA certification program, with the first CPA exams expected to be scheduled in Fall 2015.[82]
As of January 1, 2013, Chartered Professional Accountants of Canada (CPA Canada) was formed under the Canada Not-for-profit Corporations Act.[83][84]
As of October 9, 2013, CGA-Canada entered into an Integration Agreement with CPA Canada.[85]
Impact
While the new designation is being implemented one jurisdiction at a time, the new CPA Certification Program is currently being brought into effect with the first Common Final Examination to be offered in Fall 2015.[86] Questions still remain as to its impact, particularly in terms of public perception of the new designation, the single point of entry into the profession, and the impact on employers.[87] There is also debate as to what effect competition from foreign bodies such as the Association of Chartered Certified Accountants may have on the Canadian scene.[88]
Notes
- ^ After a 1908 Act granting the ICAO exclusive rights to the CA designation[21] was disallowed in 1909,[22] and a subsequent 1910 Act[23] was disallowed in 1911,[24] the ICAO and DACA leaders subsequently met and reached an agreement in which DACA would be reorganized as a federation of the provincial Institutes.[25] The Act was subsequently passed again in 1911, with concession granted to accountants who were members of DACA on December 16, 1909.[26]
- ^ retitling the principal Act as the Chartered Professional Accountants of Bermuda Act 1973 (PDF) (93). 1973.
- ^ by virtue of The Certified Public Accountants Act, R.S.O. 1937, c. 236, as amended by S.O. 1953, c. 13 (since repealed by the Legislation Act, 2006, s. 98(3),[55] as enacted by the Access to Justice Act, 2006, S.O. 2006, c. 21, Sch. F )
References
- ^ CPA Canada
- ^ "It's official! 190,000 PROS, one designation". www.cpacanada.ca. Retrieved 2017-06-04.
- ^ a b McFARLAND, JANET (2014-06-23). "Canadian accountants merge under CPA designation". Retrieved 2017-06-04.
- ^ "ACCC not concerned by key accounting bodies' merger". August 1998. Retrieved 2014-04-24.
- ^ "Case details for trade mark EU010564508". UK Intellectual Property Office. 16 January 2012.
- ^ "Case details for trade mark UK00002564752". UK Intellectual Property Office.
- ^ "Case details for trade mark UK00002588313". Intellectual Property Office.
- ^ "Accounting designations get together - Macleans.ca". Macleans.ca. 2013-09-24. Retrieved 2017-06-04.
- ^ "Canadian trade-mark data: Application 0920675". Industry Canada.
- ^ "Canadian trade-mark data: Application 0921244". Industry Canada.
- ^ "A framework for uniting the Canadian accounting profession". www.cpacanada.ca. Retrieved 2017-06-04.
- ^ Agency, Government of Canada,Canada Revenue (2014-10-03). "Canada News Centre - Archived - Minister Findlay congratulates CPA Canada on their official unification". news.gc.ca. Retrieved 2017-06-04.
{{cite web}}
: CS1 maint: multiple names: authors list (link) - ^ "Memorandum of Understanding between Canadian CPA bodies and the Institute of Chartered Accountants of Pakistan". Retrieved 2017-06-04.
- ^ Richardson & Kilfoyle 2012.
- ^ Richardson & Jones 2007, pp. 146–151.
- ^ Richardson 1996, p. 91.
- ^ Richardson & Jones 2007, pp. 151–156.
- ^ "Uniting the Canadian accounting profession" (PDF). May 2011. Retrieved 2012-05-01.
- ^ "Let CA, CMA and CGA give way to CPA". Financial Post. Retrieved 2017-06-04.
- ^ "Now is the time to secure our future" (PDF). May 2011. Retrieved 2012-05-01.
- ^ An Act to revise and amend The Chartered Accountants Act, S.O. 1908, c. 42
- ^ "P.C. 870: Disallowance Statute of Ontario, Cap. 42., intituled An Act to Revise and Amend the Chartered Accountants Act - Min. Just". Privy Council Office. April 19, 1909., "P.C. 871: Disallowance Ontario Act re. Chartered Accountants". Privy Council Office. April 23, 1909.
- ^ An Act to revise and amend The Chartered Accountants Act, S.O. 1910, c. 79
- ^ P.C. 610, P.C. 611 (March 24, 1911)
- ^ Richardson 1993, pp. 220–221.
- ^ An Act respecting Chartered Accountants, S.O. 1911, c. 48
- ^ Deirdre McMurdy (December 2011). "The changing accounting landscape". CA Magazine. Retrieved 2012-05-31.
{{cite web}}
: Italic or bold markup not allowed in:|publisher=
(help) - ^ "Consultation with leading stakeholders - Report of key findings" (PDF). May 2012. Retrieved 2012-05-31.
- ^ William Lahey, Dalhousie University. "Self-Regulation and Unification Discussions in Canada's Accounting Profession" (PDF). Retrieved 2012-05-31.
- ^ BC Regulation 339/2015, B.C. Regulations Bulletin, Number 19, June 16, 2015 Archived June 20, 2015, at the Wayback Machine
- ^ "M.O. 2016/14" (PDF). Yukon Gazette. 35 (7). Whitehorse: 7. July 15, 2016.
- ^ "O.I.C. 2016/120" (PDF). Yukon Gazette. 35 (8). Whitehorse: 9. August 15, 2016.
- ^ "Proclamation" (PDF). Alberta Gazette (Part I). 111 (11): 387. June 15, 2015.
- ^ "Votes and Proceedings" (PDF). Legislative Assembly of Saskatchewan. May 14, 2014. pp. 3–4.
- ^ "Acts Proclaimed" (PDF). Saskatchewan Gazette (Part 1). 110 (46): 2383. November 14, 2014.
- ^ regulatory bylaws approved on October 22, 2014, noted at "Public Notices: The Accounting Profession Act" (PDF). Saskatchewan Gazette. October 31, 2014. pp. 2286–2305.
{{cite web}}
: Italic or bold markup not allowed in:|publisher=
(help), to come into force upon proclamation - ^ "Proclamation" (PDF). Government of Manitoba. July 29, 2015.
- ^ "Bylaws: Chartered Professional Accountants of Manitoba" (PDF). CPA Manitoba Transitional Board. July 9, 2015., at Bylaw 304(2)
- ^ a b c "Use of the CPA Designation in Ontario" (PDF). ICAO. July 2014.
- ^ "Bill 98: Chartered Professional Accountants Act". Legislative Assembly of Nova Scotia.
- ^ "N.S. Reg. 263/2015 (Proclamation)" (PDF). Royal Gazette (Part II). 39 (14). Halifax: 759. July 10, 2015.
- ^ "N.S. Reg. 156/2016 (Proclamation)" (PDF). Royal Gazette (Part II). 40 (17). Halifax: 752–753. August 19, 2016.
- ^ "Bill 15 (progress)". Legislative Assembly of Prince Edward Island.
- ^ "Proclamation" (PDF). Royal Gazette. 141 (13). Charlottetown: Queen's Printer: 328. March 28, 2015.
- ^ "CPA, CA Tagging" (PDF). CPA PEI.
- ^ "House of Assembly Proceedings". House of Assembly of Newfoundland and Labrador. December 16, 2014.
- ^ "Institute of Chartered Accountants of Bermuda Amendment Act 2014 Commencement Day Notice 2014" (PDF).
- ^ Cameron Friesen (June 17, 2015). "Bill 9 – The Chartered Professional Accountants Act" (PDF). Parliamentary Debates (Hansard). Manitoba: Legislative Assembly. pp. 1952–1956.
- ^ "Designation Use". CPA Alberta.
- ^ Luis Millan (November 2011). "Quebec accountants formally sanction unity". The Bottom Line.
{{cite web}}
: Italic or bold markup not allowed in:|publisher=
(help) - ^ Tim Shufelt (2012-05-17). "Accounting merger hits the rocks". Financial Post. Retrieved 2012-05-17.
{{cite web}}
: Italic or bold markup not allowed in:|publisher=
(help) - ^ Jeff Buckstein (May 2012). "Ontario hurdles critical to hopes of national unity". The Bottom Line. Retrieved 2012-05-18.
{{cite web}}
: Italic or bold markup not allowed in:|publisher=
(help) - ^ Jeff Buckstein (June 2012). "Ontario talks off, merger in trouble". The Bottom Line. Retrieved 2012-05-25.
{{cite web}}
: Italic or bold markup not allowed in:|publisher=
(help) - ^ Richardson & Kilfoyle 2012, p. 12.
- ^ effective July 25, 2007: "Proclamation" (PDF). The Ontario Gazette. 140 (28): 2307. July 14, 2007.
- ^ "Canadian trade-mark data: Application 0922430".
- ^ "Message to members". CMAO. 16 November 2012. Retrieved 2012-11-29.
- ^ "All members of the profession must benefit". CGAO. 27 November 2012. Retrieved 2012-11-29.
- ^ "Archived copy". Archived from the original on 2013-12-23. Retrieved 2013-05-06.
{{cite web}}
: Unknown parameter|deadurl=
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suggested) (help)CS1 maint: archived copy as title (link) - ^ http://www.cma-ontario.org/AboutCMAs/UpdatesonUnitingtheAccountingProfession/CMAOntarioentersMOUwithICAO.aspx
- ^ "Unification Update September 2013". September 25, 2013.
- ^ "CGA Ontario to re-enter unification discussions with CPA Ontario and CMA Ontario". October 24, 2013.
- ^ Three Ontario bodies sign MOU to unify the profession in that province, CPA Canada, February 3, 2014, retrieved February 12, 2014
- ^ "Unification Agreement - Key Terms: Unifying the Accounting Profession in Ontario" (PDF). May 1, 2014.
- ^ "Members Vote In Support Of Unification". CPA Ontario. June 18, 2014.
- ^ "Ontario Budget 2017, Chapter 7: Taxation". fin.gov.on.ca. 27 April 2017.
New legislation that would recognize the merger of three Ontario accounting bodies, which now operate as Chartered Professional Accountants of Ontario...
- ^ "Ontario Government passes the Chartered Professional Accountants of Ontario Act, 2017" (Press release). Toronto: CPA Ontario. May 17, 2017.
- ^ "Committee Documents: Standing Committee on Finance and Economic Affairs". ontla.on.ca. Legislative Assembly of Ontario. May 15, 2017.
- ^ "Committee Documents: Standing Committee on Finance and Economic Affairs". ontla.on.ca. Legislative Assembly of Ontario. May 16, 2017.
- ^ CPAOA 2017, s. 2
- ^ CPAOA 2017, s. 29(1)
- ^ CPAOA 2017, s. 29(2)
- ^ CPAOA 2017, s. 71
- ^ "BC's Accountants Unite under Chartered Professional Accountant Designation". ICABC/CMABC/CGABC. 9 May 2013. Retrieved 2 November 2013.
- ^ Suzanne Anton, Attorney General (March 24, 2014). "Bill 17 - Miscellaneous Statutes Amendment Act, 2014". Parliamentary Debates (Hansard). British Columbia: Legislative Assembly. p. 2287.
- ^ Diana Whalen, Deputy Premier and Minister of Finance (April 23, 2015). "Bill No. 98 - Chartered Professional Accountants Act". Parliamentary Debates (Hansard). Nova Scotia: Legislative Assembly. pp. 4189–4190.
- ^ "Nova Scotia Establishes Chartered Professional Accountants Designation". Finance and Treasury Board (Nova Scotia). April 22, 2015.
- ^ An Act to Amend Chapter 369 of the Revised Statutes, 1989, the Public Accountants Act, S.N.S. 2015, c. 49
- ^ "N.S. Reg. 155/2016 (Proclamation)" (PDF). Royal Gazette (Part II). 40 (17). Halifax: 751. August 19, 2016.
- ^ http://nslegislature.ca/index.php/proceedings/bills/chartered_professional_accountants_act_-_bill_98
- ^ https://www.cpacanada.ca/en/the-cpa-profession/uniting-the-canadian-accounting-profession/uniting-the-accounting-profession-a-framework
- ^ "CPA Canada update". 2012-07-31. Retrieved 2012-08-14.
- ^ "CA/CMA letter to members" (PDF). 2013-01-04. Retrieved 2013-01-05.
- ^ "Federal Corporation Information - 8305633". Corporations Canada. 2013-01-01. Retrieved 2013-01-15.
- ^ "Archived copy". Archived from the original on 2013-11-29. Retrieved 2013-10-29.
{{cite web}}
: Unknown parameter|deadurl=
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suggested) (help)CS1 maint: archived copy as title (link) - ^ "The CPA Certification Program" (PDF). April 2014. p. 15.
- ^ Ryan, Lento & Sayed 2012.
- ^ Ryan, Lento & Sayed 2012, p. 7.
Further reading
- Richardson, Alan J. (1993). "Who Audits? The Emergence of Hegemony in the Ontario Accounting Profession". In Murphy, George J. (ed.). A History of Canadian Accounting Thought and Practice. New York: Garland. pp. 209–250. ISBN 0-8153-1248-2.
{{cite book}}
: CS1 maint: ref duplicates default (link) - Richardson, Alan J. (1996). "Canada". In Chatfield, Michael; Vangermeersch, Richard (eds.). History of Accounting: An International Encyclopedia. Routledge. ISBN 0-8153-0809-4.
{{cite book}}
: CS1 maint: ref duplicates default (link) - Alan J. Richardson (2000). "Building the Canadian Chartered Accountancy Profession: A Biography of George Edwards, FCA, CBE, LLD, 1861-1947". Accounting Historians Journal. 27 (2). Academy of Accounting Historians: 87–116.
- Parker, Robert H. (2005). "Naming and branding: accountants and accountancy bodies in the British Empire and Commonwealth, 1853–2003". Accounting History. 10 (1): 7–46. doi:10.1177/103237320501000102. ISSN 1032-3732. Retrieved May 14, 2014.
{{cite journal}}
: CS1 maint: ref duplicates default (link) - Richardson, Alan J.; Jones, D.G. Brian (2007). "Professional "brand", personal identity and resistance to change in the Canadian accounting profession: a comparative history of two accounting association merger negotiations". Accounting History. 12 (2): 135–164. doi:10.1177/1032373207076035. ISSN 1032-3732. Retrieved May 16, 2014.
{{cite journal}}
: CS1 maint: ref duplicates default (link) - Richardson, Alan J.; Kilfoyle, Eksa (2012). "Merging the Profession: A Historical Perspective on Accounting Association Mergers in Canada" (PDF). Accounting Perspectives. 11 (2). Canadian Academic Accounting Association. Archived from the original (PDF) on 2013-09-22. Retrieved 1 May 2012.
{{cite journal}}
: Unknown parameter|dead-url=
ignored (|url-status=
suggested) (help)CS1 maint: ref duplicates default (link) - List, Cary (2012). "The Case for Unifying a Profession" (PDF). Accounting Perspectives. 11 (2). Canadian Academic Accounting Association. Archived from the original (PDF) on 2013-09-22. Retrieved 14 February 2014.
{{cite journal}}
: Unknown parameter|dead-url=
ignored (|url-status=
suggested) (help)CS1 maint: ref duplicates default (link) - Ryan, Jo-Anne; Lento, Camillo; Sayed, Naqi (2012). "Some Unresolved Issues about the Proposed CPA Certification Program" (PDF). Accounting Perspectives. 11 (2). Canadian Academic Accounting Association. Archived from the original (PDF) on 2013-09-22. Retrieved 26 May 2014.
{{cite journal}}
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External links
- Official website
- Vision CGA: Unification Information at the Wayback Machine (archived 15 June 2013)