Controlling our destiny in a rapidly evolving professional environment » Your home for CA-CMA-CGA unification information

Unifying the profession is a strategic response
to the rapidly evolving environment and the
resulting opportunities and risks facing the
Canadian accounting profession.

The CPA designation is emerging as the largest accounting designation around the world.

The Canadian Environment

•	Increasingly, accountants are working in the same practice areas but remain subject to different qualification processes, codes of conduct, inspection and disciplinary regimes operated under 40 different governing bodies.
•	The three bodies in Quebec, at the invitation of their government, have agreed to merge under the Chartered Professional Accountant designation.
•	The Association of Chartered Certified Accountants (ACCA) in the U.K., which is aggressively advancing a global expansion strategy that targets Canada, is legally challenging the CA profession’s legislated rights to the exclusive use of the name “Chartered Accountant” in Canada.

Global Alliances and Other International Developments

•	The global financial crisis has brought the regulation of the accounting profession under close scrutiny.

A larger, more cohesive voice would ensure that the Canadian accounting profession continues to effectively influence international standard setting bodies and other global organizations.

•	The U.K. House of Lords is publicly calling for the amalgamation of the six U.K. accounting bodies, saying the fragmentation of the accounting profession there is inefficient.
•	The CPA designation is emerging as the largest accounting designation around the world. The CPA designation is used by more accountants than any other designation, with the current ratio of CPAs to CAs globally being 2:1.
•	The Institute of Chartered Accountants in England and Wales and the ACCA have both filed European trademark applications to control the Chartered Professional Accountant (CPA) designation.
•	The American Institute of Certified Public Accountants (AICPA) is aggressively seeking to expand its global footprint and is opening examination centres for the U.S. CPA exam outside of the U.S. In addition, the AICPA and the U.K.-based Chartered Institute of Management Accountants (CIMA) have announced a new jointly developed global management accountant designation.

•	Increasingly, other national and regional accounting bodies also are entering into alliance agreements to increase their individual and collective strength, relevance and influence. Examples include the Global Accounting Alliance and the Edinburgh Group.

The Risks of Continuing as a Fragmented Profession

•	Government mandating that we reform, and possibly dictating the terms of that reform.
•	Inability to respond efficiently and effectively to challenges from foreign accounting bodies or alliances operating in Canada.
•	If the profession does not unify it is possible that two of the existing bodies may merge, thereby potentially strengthening their position in the marketplace at the expense of the third body.

•	The CPA designation becoming controlled by one or more of the existing Canadian bodies — to the exclusion of the others.
•	Losing influence domestically and internationally if we do not speak with a single, strong voice.