VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2013) -
Editors Note: There is a photo associated with this release.
The Chairs and CEOs of the Certified Management Accountants Society of BC (CMA BC) and the Certified General Accountants Association of BC (CGA-BC), and the President and CEO of the Institute of Chartered Accountants of BC (ICABC) have signed an agreement to pursue a merger. The three self-regulated accounting professions are working to unite under the Chartered Professional Accountant (CPA) designation.
After extensive consultation, the agreement was reached following votes by the ICABC Council, CGA-BC Board and CMA BC Board in favour of unifying the three organizations. Together, they will work with the provincial government to enact CPA legislation, legally merge, and establish CPABC, which will be one of the largest professional organizations in the province.
"This decision is in the best interest of the public, as well as our members and students," said Candace Nancke, FCGA, Chair of CGA-BC. "We are excited to join our colleagues across Canada in this initiative."
The three organizations will work together to build Canada's pre-eminent accounting and business designation. With more than 34,000 members and students in BC, CPABC will foster the growth and evolution of the accounting profession, while also providing the expertise to help businesses in every sector of the economy.
"Beginning this fall, our three organizations will jointly deliver the CPA Professional Education Program to students," said Gordon Holloway, FCA, President of ICABC Council. "The new CPA program builds on our strengths, and integrates the best or our education and training programs to meet the needs of employers."
"We're excited. Positive momentum continues to build throughout Canada," said Pat Kennedy, FCMA, Chair of CMA BC. "The CPA designation is now active in Quebec and Ontario, and regulatory bodies representing the majority of professional accountants in Canada are working to unite under this banner."
Until such time as legislative changes are enacted, CA, CGA, and CMA members will maintain their current designation, and the ICABC, CGA-BC, and CMA BC will continue their existing mandates of self-regulation, education, and advocacy.
The Institute of Chartered Accountants of British Columbia is the training, governing and regulatory body of B.C.'s 11,000 members and just over 1,800 CA students. The Certified Management Accountants Society of British Columbia represents over 4000 members and 1000 CMA students and candidates. The Certified General Accountants Association of British Columbia represents almost 11,000 CGAs and nearly 5,000 CGA students. The three bodies protect public interest through rigorous educational and certification programs to uphold the highest professional standards and ethics.
CPAs in British Columbia will serve the public interest across all sectors of the economy with integrity, sound ethical practices, disciplined regulation and proven strategic management and financial expertise. Accounting bodies representing 85 per cent of Canada's professional accountants are committed to unification or have already merged under the CPA banner.
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