CPA New Brunswick legislation receives passage

The CPA New Brunswick Unification Agency announced provincial legislation to formalize the unification of the three legacy accounting bodies into CPA New Brunswick.

The CPA New Brunswick Unification Agency was pleased to announce that provincial legislation to formalize the unification of the three legacy accounting bodies into CPA New Brunswick, the Chartered Professional Accountants Act (Bill 52), was passed in the New Brunswick Legislature on April 23, 2014.

“This is a historic day for the accounting profession in our province. New Brunswick is the third jurisdiction in Canada to pass the necessary legislation,” said Roger Bastarache, CGA, CA, chair of the CPA New Brunswick Unification Agency.  (CPA legislation passed in Québec in May 2012 and The Accounting Profession Act passed in the Saskatchewan Legislature earlier this month.)

CPA New Brunswick will represent more than 2,200 professional accountants across the province, as well as approximately 400 students. New Brunswick members join Canada’s more than 185,000 accounting professionals who are coming together to form the new Chartered Professional Accountant designation.

Although the Chartered Professional Accountants Act (Bill 52) has received passage in the Legislature, it will not come into force until proclamation on September 1, 2014. Before the official creation of CPA New Brunswick and the complete unification of the three bodies, there are a number of tasks to be undertaken. The three existing accounting bodies will continue to work together to complete these tasks to ensure a smooth transition to the new organization. Until the new CPA legislation in New Brunswick is proclaimed, the CPA designation cannot be used in that province. Once the Act is proclaimed, CPA New Brunswick will be officially created.

Update
Following the announcement that the CPA New Brunswick legislation received passage, the Chartered Professional Accountants Act received Royal Assent on Wednesday, May 21. This confirms that CPA New Brunswick will be officially created on September 1, 2014.