With the legislative process now complete, Chartered Professional Accountant (CPA) has become the accounting profession’s official designation in British Columbia, replacing the CA, CGA, and CMA designations. CPABC is the new governing body. Under the Chartered Professional Accountants Act, B.C.’s professional accountants now join the ranks of over 200,000 CPAs in Canada. This will ensure consistent standards of education, ethical practice, disciplined regulation, and proven strategic management and financial expertise throughout the accounting industry. Working to meet a common set of ethical and practical standards, CPA sets a new standard for business and accounting in Canada.
Unification under the CPA designation also aligns Canada with the most recognizable accounting brand in the world. Yet unlike CPA designations in other countries, the “P” stands for “Professional” instead of “Public”, as the Canadian CPA is not solely focused on public practice.
“From an economic point of view, a single designation makes sense too. By combining resources and speaking with one voice, the Canadian CPA profession will be one of the largest accounting bodies globally, better representing the country’s interests at the international standards-setting table, and contributing to Canada’s business and capital markets.” Richard Rees, FCPA, FCA, President & CEO, CPABC
What it means for Employers
Without question, the Canadian CPA program creates better professionals. As an employer, the CPA designation means you can trust that potential employees meet the needs of your business. You’ll see a consistently high standard of knowledge and skills among newly qualified CPAs, all trained under a common united program.
Whether you’re in large or small organizations in business, public practice, not-for-profit, government, or education, the CPA designation will provide you with employees who are committed to the highest standards and best practices of their profession. For more information or to hire a CPA, visit www.goCPAbc.ca.
What it means for the Public
B.C. is now aligned with a broader, national initiative that better protects the public interest and better serves B.C. and Canada’s economic interests both domestically and abroad. The new legislation enhances consumer protection with harmonized regulation and one regulator for all professional accountants. In addition, protection of certain services ensures that only individuals being regulated to CPA Canada standards are able to provide these services and are regulated accordingly. Information on CPABC’s commitment to protecting the public can be found on www.bccpa.ca.