16th October 2014
Canada’s accounting bodies have merged to create a single organisation for the profession, the Chartered Professional Accountants of Canada (CPA Canada). More than 190,000 members are now represented by a single national body after The Certified General Accountants Association of Canada (CGA-Canada) joined CPA Canada.
It completes an integration that began last year with the creation of CPA Canada from the merger of the Canadian Institute of Chartered Accountants (CICA) and The Society of Management Accountants of Canada (CMA Canada).
“With integration, we are one of the largest national accounting bodies in the world," says Kevin Dancey, FCPA, FCA, president and chief executive officer of CPA Canada. "A common vision with a strengthened voice gives Canada's accounting profession greater influence both at home and abroad."
The merging of the bodies is the latest step as the country’s accounting profession continues its transition to the new Chartered Professional Accountant (CPA) designation. However, as the profession is provincially regulated, the timing of when the CPA designation will be used will vary. Legislation has passed in some provinces while it is progressing in others.
"This is an exciting transition period for Canada's accounting profession," says Pat Keller, CPA, FCGA, chair of CGA-Canada. "There is still work to be completed at the provincial level and it is important that all stakeholders recognise the Canadian CPA as Canada's pre-eminent business and accounting designation."
It is also thought the new, unified body will give Canada’s accountants a stronger voice on the global stage.
This is an ambition shared by the profession in Australia and New Zealand, where the recent Trans-Tasman merger created a unified body for the two countries.
NZICA Board chairman Graham Crombie FCA explained how the merger is about “strengthening the ongoing pre-eminence of the Chartered Accountant brand”, as well as giving members “a greater voice on the global stage”.
A single body should also make international cooperation easier and ensure accountants from other nations are able to collaborate with professionals in Canada.