CPA Canada remains committed to a unified Canadian accounting profession

Advertisement

TORONTO, June 20, 2023 (GLOBE NEWSWIRE) — Canada’s Chartered Professional Accountants are known for their integrity, fairness, and transparency. At CPA Canada, we believe that we must always try to live up to those qualities — and now is the time to do so.

CPA Canada has worked with the provincial, territorial and Bermudian CPA bodies to find a path forward on governance and how best to represent CPAs nationally since the unification of the profession a decade ago. More recently, we entered into discussions with CPA Ontario and CPA Quebec to progress the issue.

CPA Canada is disappointed and surprised that CPA Ontario and CPA Quebec have decided to sever ties with the national organization, triggering an 18-month withdrawal period in accordance with the terms of the current collaboration agreement. This decision comes despite the progress made recently and our desire to find a successful resolution.

Advertisement

We share the goals of Ontario and Quebec in improving our governance framework, enhancing transparency and accountability so that the CPA profession can continue to prosper, best serve the public interest and attract new members.

Throughout this process, CPA Canada has demonstrated openness to many of the proposals put forward. We remain fully committed to addressing the items raised with a sense of urgency.

CPA Canada firmly believes that any resolution must involve all provincial, territorial and Bermudian CPA bodies and not solely focus on the wishes of one or two provinces. It is essential to provide sufficient time for consulting with members, relevant stakeholders, federal and provincial governments, and to obtain provincial and territorial board approval.

We strongly recommend that CPA Ontario and CPA Quebec re-engage with CPA Canada, including all provincial, territorial and Bermudian bodies, and work with a world-class conciliator to guide future deliberations. Establishing a clear timeline to achieve this goal without further delay would align with our mutual obligations and best serve the entire profession.

The myriad challenges and demands facing the profession — including sustainability, technological change and economic uncertainty—are global in nature and CPA Canada firmly believes in the need for a unified profession.

We remain committed to constructive dialogue and finding a mutually beneficial resolution that addresses the concerns of all parties involved.

About Chartered Professional Accountants of Canada

Chartered Professional Accountants of Canada (CPA Canada) works collaboratively with the provincial, territorial and Bermudian CPA bodies, as it represents the Canadian accounting profession, both nationally and internationally. This collaboration allows the Canadian profession to champion best practices that benefit business and society, as well as prepare its members for an ever-evolving operating environment featuring unprecedented change. Representing more than 220,000 members, CPA Canada is one of the largest national accounting bodies worldwide.

For more information, contact:

Sunny Freeman
Director, Strategic Communications
Chartered Professional Accountants of Canada
[email protected]
T: 416-708-7602

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.