| July 31, 2012 | CPA CANADA UPDATE |
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This newsletter is designed to keep you up-to-date on the latest developments as progress continues on uniting the Canadian accounting profession under the new Canadian Chartered Professional Accountant (CPA) designation. Here you will find the results of member feedback, the decisions of the provincial bodies, and related unification news. You’ll also find links that lead to more details about each item on the CPA Canada website – your main national source for timely, complete information about the unification process. Visit the site to sign up for news e-alerts so you can keep up with the latest developments as they unfold. National Developments
Work to commence on national CPA Canada body
At meetings held this month, the CA and CMA national boards gave approval for CICA and CMA Canada to commence work to establish CPA Canada as the national body for the unified profession.
With this significant step forward, work can begin to establish a national organization to support provincial bodies that have unified, and all those that will unify, under the CPA banner. A priority for CPA Canada will be full development of the CPA certification program. The program will be in place for delivery in parts of Canada by fall 2013, with the first CPA exams offered in the fall of 2015. The structure and governance model for the new organization will be among the other initial priorities.
We will continue to keep you informed as plans and timelines for establishing CPA Canada are developed.
Provincial Progress Continues
The Institute of Chartered Accountants of Nova Scotia and CMA Nova Scotia release merger proposal
In support of the eight principles outlined in the January 2012 Unification Framework, and the new CPA certification program, the council of The Institute of Chartered Accountants of Nova Scotia (ICANS) and the board of CMA Nova Scotia have issued a provincial merger proposal to their members. More >
Manitoba CAs and CMAs discuss merger with provincial government leaders
CA Manitoba and CMA Manitoba met with provincial government leaders to submit a report on the results of the consultations regarding a merger and discuss the next steps and timeline required to accomplish the goal of enacting new legislation to create CPA Manitoba. More >
Members in seven more provincial accounting bodies show support for unification
In addition to the vote results previously reported by ICABC, CA Manitoba and CMA Manitoba, members in several other provinces have also indicated strong support for unification. Follow the links for more information on vote results and a member survey by ICAS:
ICAO reaffirms commitment to unification
In Ontario, the newly elected chair of the Institute of Chartered Accountants of Ontario has stated that the council remains committed to the national unification process and discussions, and supports adoption of the CPA designation. More >
Stakeholder Commentary
The Honourable Michael Kirby speaks out in favour of unification
“Fragmentation among professional accountants is an outdated luxury that Canada can no longer afford in an era of mobile capital and competitive markets,” says former senator, the Honourable Michael Kirby in a Special to the Financial Post in June 2012. “It’s more important than ever to ensure that Canada’s interests are clearly reflected in the multilateral process that determines the standards that will apply in Canada. Unification would help ensure that these standards are appropriate for Canadian market needs.” Read the editorial here >
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