Chartered Professional Accountant

File:Logo of CPA English.jpg

Chartered Professional Accountant (CPA; Template:Langx) is the professional designation which united the three Canadian accounting designations that previously existed:

• Chartered Accountant (CA),
• Certified General Accountant (CGA)
• Certified Management Accountant (CMA).

CPA Canada is the national organization that represents the profession, and the CPA designation has been in use by members of all constituent accounting bodies in the provinces, territories and Bermuda since 2014. The legislative process for implementing the new designation began in Quebec in May 2012, and was completed in the Northwest Territories and Nunavut in January 2019.

CPA Competency Map

The CPA Competency Map lays the foundation for the CPA certification program, including education, accreditation, examinations, and practical experience requirements, and describes the knowledge, skills and proficiency levels you must achieve to become a Canadian CPA.

Technical Competencies

1. Financial Reporting
2. Management Accounting
3. Strategy & Governance
4. Audit & Assurance
5. Corporate Finance
6. Taxation

Enabling Competencies (2020)

1. Acting Ethically and Demonstrating Professional Values
2. Leading
3. Collaborating
4. Managing Self
5. Adding Value
6. Solving Problems and Making Decisions
7. Communicating

Former CFE Competency Map (2019):

1. Professional & Ethical Behaviour
2. Problem solving & Decision making
3. Written & Oral communications
4. Self Management
5. Leadership & Teamwork

Background

Origin of name

"Chartered Professional Accountant" is borrowed from a similar but aborted Australian merger attempt in 1998. It has been registered as an EU Community trademark by the Institute of Chartered Accountants in England and Wales. However, applications to register "CPA" as such were either withdrawn or refused.

History

File:CMA ad 2007.png

CMA Canada awareness campaign (2007). There was great interprofessional rivalry happening between the three organizations prior to amalgamation.

For more than 100 years, Canada has seen several accounting designations, which eventually coalesced around the titles of "chartered accountant", "certified management accountant" and "certified general accountant". In time, it became increasingly harder to distinguish between them, as candidates in all bodies had to essentially meet the same requirements for entry. The Government of Quebec undertook a review which resulted in the goal of a merger under common regulations.

Registration as a Canadian trademark was originally sought by the Ordre des comptables agréés du Québec in September 2010, but the application lapsed. It was subsequently secured by the Institute of Chartered Accountants of Ontario in August 2011.

In January 2012, A Framework for Uniting the Canadian Accounting Profession was issued by the following three organizations: the Canadian Institute of Chartered Accountants (CICA), the Society of Management Accountants of Canada (CMA Canada) and Certified General Accountants of Canada (CGA-Canada). This framework set out a proposal to unite members of the existing designations and their 40 national and provincial accounting bodies into the Chartered Professional Accountants of Canada (CPA Canada), employing a common CPA designation.

On October 1, 2014, the union of Canada's accounting profession became complete with the integration of the CGA-Canada and CPA Canada, placing all of Canada's recognized national accounting bodies under the singular CPA banner. The Canadian CPA designation has since grown to more than 210,000 members in Canada and around the world.

Reason for Canadian adoption

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The move to adopt the CPA designation was the latest of a series of consolidating moves that has affected the Canadian accounting profession between 1880 and 2010, of which the last significant merger occurred between Canadian chartered accountants and certified public accountants in the 1960s. Several attempts were made to merge the CGAs and CMAs during the 1960s, as well as of all three bodies during the 1970s. A subsequent merger attempt between chartered accountants and certified management accountants occurred in 2004, being promoted by their leaders but failing to secure adequate membership support.

In 2011, all three main bodies agreed to work towards a merger that would see a new organization with 180,000 professional members and 10,000 candidates and registered students. This new accounting body would be one of the largest in the world. Proponents of the 2012 proposal to unite the profession under the CPA argued that it would strengthen the influence, relevance and contribution of the Canadian accounting profession with domestic and international stakeholders and serve the public interest through common codes of conduct, disciplinary systems and licensing regimes.

The guiding principles for the unification were expressed to be:

• Evolution to a single designation over a 10-year transition period
• Continued use of existing designations (used in combination with the CPA, e.g.:CPA, CGA)
• Retention but no expansion of rights (ie, current mutual recognition agreements would be confined to legacy members concerned)
• A uniform certification process for new members
• Introduction of post-certification specialty programmes
• Branding the CPA designation, with de-emphasis of legacy designations
• Common code of conduct, regulations and the practice of public accountancy
• Merged operations and governance

See also

• Common Final Examination
• Professional certification
• Professional certification in financial services
• Registered Professional Accountant

Further reading

• Richardson, Alan J. (1993). "Who Audits? The Emergence of Hegemony in the Ontario Accounting Profession". In Murphy, George J. (ed.). A History of Canadian Accounting Thought and Practice. New York: Garland. pp. 209–250. ISBN 978-0-8153-1248-2.
• Richardson, Alan J. (1996). "Canada". In Chatfield, Michael; Vangermeersch, Richard (eds.). History of Accounting: An International Encyclopedia. Routledge. pp. 89–92. ISBN 978-0-8153-0809-6.
• Alan J. Richardson (2000). "Building the Canadian Chartered Accountancy Profession: A Biography of George Edwards, FCA, CBE, LLD, 1861-1947". Accounting Historians Journal. 27 (2): 87–116. doi:10.2308/0148-4184.27.2.87.{{cite journal}}: CS1 maint: deprecated archival service (link)
• Parker, Robert H. (2005). "Naming and branding: accountants and accountancy bodies in the British Empire and Commonwealth, 1853–2003". Accounting History. 10 (1): 7–46. CiteSeerX 10.1.1.203.2075. doi:10.1177/103237320501000102. ISSN 1032-3732. S2CID 145661298.
• Richardson, Alan J.; Jones, D.G. Brian (2007). "Professional "brand", personal identity and resistance to change in the Canadian accounting profession: a comparative history of two accounting association merger negotiations". Accounting History. 12 (2): 135–164. doi:10.1177/1032373207076035. ISSN 1032-3732. S2CID 153432082.
• Richardson, Alan J.; Kilfoyle, Eksa (2012). "Merging the Profession: A Historical Perspective on Accounting Association Mergers in Canada" (PDF). Accounting Perspectives. 11 (2): 77–109. doi:10.1111/j.1911-3838.2012.00033.x. Archived from the original (PDF) on 2013-09-22. Retrieved 1 May 2012.
• List, Cary (2012). "The Case for Unifying a Profession" (PDF). Accounting Perspectives. 11 (2): 131–136. doi:10.1111/j.1911-3838.2012.00035.x. Archived from the original (PDF) on 2013-09-22. Retrieved 14 February 2014.
• Ryan, Jo-Anne; Lento, Camillo; Sayed, Naqi (2012). "Some Unresolved Issues about the Proposed CPA Certification Program" (PDF). Accounting Perspectives. 11 (2): 137–144. doi:10.1111/j.1911-3838.2012.00036.x. Archived from the original (PDF) on 2013-09-22. Retrieved 26 May 2014.

External links

• Official website