CPA Bermuda legislation receives passage and amended Act now in effect

CPA Canada welcomes CPA Bermuda as the third jurisdiction to join as a full member.

On May 16, 2014, Chartered Professional Accountants of Bermuda (CPA Bermuda) was pleased to announce that the Bermuda Governor gave his assent to the Institute of Chartered Accountants of Bermuda Amendment Act 2014 on March 26, 2014 and the amendment act became effective on April 11, 2014.

The legislation outlines the standards that define CPA Bermuda and provides the basis that will allow CPA Bermuda to join the CPA Canada national organization as a full member, becoming the third jurisdiction to do so. CPA Quebec and CPA Ontario (previously ICAO) became the first organizational members of CPA Canada in January 2013.

CPA Bermuda looks forward to formally welcoming members from each of the legacy CA, CMA and CGA professions into CPA Bermuda. Although the unification process was different in Bermuda than in other Canadian provinces and regions, the CEOs of CMA Nova Scotia and CGA Nova Scotia together with the ICAB Council worked together to ensure that the rights of all members will be honored. CPA Bermuda will represent over 900 professional accountants, as well as just over 100 students.

All ICAB members in good standing have now been granted the CPA designation and direction provided to them on appropriate use of the CPA in conjunction with their legacy designation. These requirements will similarly apply to any CMA and CGA members as they join CPA Bermuda.