One national body for Canada's accounting profession

TORONTO, Oct. 1, 2014 /CNW/ - It is an historic day for the country's accounting profession with more than 190,000 members now represented by a single national body - Chartered Professional Accountants of Canada (CPA Canada).

The Certified General Accountants Association of Canada (CGA-Canada) has joined CPA Canada, completing the integration of the country's national accounting bodies. CPA Canada was established last year by 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 CEO, CPA Canada. "A common vision with a strengthened voice gives Canada's accounting profession greater influence both at home and abroad."

In addition to greater influence, comes clarity. It is now easier for stakeholders to understand who represents the profession nationally and internationally.

"CPA Canada clearly will be viewed as a strong voice for advancing sound public policy both domestically and for our country on the global stage," says Dancey.

Integration of the national bodies is the latest milestone achieved as Canada's accounting profession continues its transition to the new Chartered Professional Accountant (CPA) designation. Timing for use of the CPA designation will vary across the country because the profession is provincially regulated. In some provinces, legislation has passed and in others it is progressing.

"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 recognize the Canadian CPA as Canada's pre-eminent business and accounting designation."

CPA Canada has almost 400 employees operating out of four locations: Toronto, Ontario, Ottawa, Ontario, Montreal, Quebec and Burnaby, British Columbia.

The organization has a 20-member Board of Directors. Its membership reflects a cross section of perspectives based on regional representation, the legacy designations and public input.

New Board Chair and Vice-Chair

Immediately following CPA Canada's Annual General Meeting on September 24, 2014, Bob Strachan, CPA, FCMA, was appointed chair of the Board of Directors and Alain Côté, FCPA, FCA, assumed the position of vice-chair.

Strachan, who resides in Victoria, British Columbia, has been a member of the Board since its inception in January 2013 and had been serving as vice-chair since September 26, 2013. He can draw upon the experience of a 40-year career that included senior roles in financial and risk management, treasury, asset management and taxation. He also has provided governance advisory services for the government and education sectors.

Strachan has full appreciation of the opportunities and challenges associated with unification. He was co-chair of the National Steering Committee overseeing the formation of CPA Canada and chaired the Board of Directors of CMA Canada.

Côté, who is based in Montreal, Quebec, brings 35 years of experience to the role of vice-chair of CPA Canada. He has provided audit and advisory services to companies of all sizes, particularly financial institutions. Côté also was a member of the Board of Directors of the Ordre des comptables agréés du Québec, including serving as its chair from 2009-2011.

Both Strachan and Côté are looking forward to working with fellow board members, CPA Canada staff and other stakeholders as a new era for the profession takes shape.

About CPA Canada

Canada's accounting profession is uniting under a new single designation, Chartered Professional Accountant (CPA). The profession's national body, Chartered Professional Accountants of Canada (CPA Canada), represents and supports more than 190,000 members across the country. CPAs are valued for their financial and tax expertise, strategic thinking, business insight, management skills and leadership. CPA Canada has consolidated the operations of three national accounting bodies: The Canadian Institute of Chartered Accountants, the Certified General Accountants of Canada and The Society of Management Accountants of Canada. CPA Canada conducts research into current and emerging business issues and supports the setting of accounting, auditing and assurance standards for business, not-for-profit organizations and government. It also issues guidance on control and governance, publishes professional literature and develops certification and continuing education programs.

SOURCE: CPA Canada