CPA Manitoba Legislation Receives Third and Final Reading

The provincial legislation to formalize the unification of the three accounting bodies into Chartered Professional Accountants of Manitoba (CPA Manitoba) received third and final reading in the Manitoba Legislature.

CPA Act passed in Manitoba Legislature

The Chartered Professional Accountants Act received its third and final reading in the Manitoba Legislature on June 17, 2015. Although the CPA Act has been passed by the Legislature, it still awaits Royal Assent by the Lieutenant Governor. Following Royal Assent, there are a number of steps to be taken before the CPA Act comes into effect.

Next steps

A transitional board, comprised of four representatives from each legacy body and four public representatives, will be established to approve the CPA Manitoba Bylaws and appoint the first Board of Directors.

Once the transitional board has completed these two tasks, CPA Manitoba will advise the government and prepare for proclamation of the legislation, which is anticipated to occur this fall.

Status of unification across Canada

All 40 accounting bodies in Canada have either unified or are participating in discussions to unite under the Chartered Professional Accountant (CPA) banner.