Unification of Professional Designations

The Canadian Institute of Chartered Accountants (CICA), Certified Management Accountants of Canada (CMA Canada) and the Certified General Accountants of Canada (CGA-Canada) have presented to their members a proposed framework for uniting Canada’s accounting profession.

The three national bodies believe uniting the profession would allow them to better meet the evolving needs of Canadian accountants, national and international business communities as well as continuing to protect the public interest. The decision to move forward and develop this national framework follows an extensive consultation period involving members, students, governments, regulators, employers, and the business and academic communities.

The framework calls for the creation of a new designation – Chartered Professional Accountant or CPA – and a new common certification program. The Canadian CPA would draw upon the strengths of the existing three organizations and will become an internationally recognized and respected business credential.

The framework for unification is based on four fundamental objectives:

* To best position the profession to protect the public through the provision of a common certification program and a single set of high ethical and practice standards.

* To enhance and protect the value of the designation in an increasingly competitive and global environment.

* To contribute to the sustainability and prosperity of the Canadian accounting profession.

* To govern the accounting profession in an effective and efficient manner.

“With the world going global it makes sense for Canada’s accounting profession to unite and bring together a unique combination of expertise to give us a stronger, more influential voice,” said Joy Thomas, MBA, FCMA, C.Dir., president and CEO, CMA Canada. “Internationally, other accounting bodies are coming to grips with globalization and we cannot stand in isolation.”

Several international accounting organizations are looking to...