Three Nova Scotia bodies enter merger agreement and request new legislation

Nova Scotia provincial bodies provide merger update.

On July 8, 2014, the Institute of Chartered Accountants of Nova Scotia (ICANS), the Certified General Accountants of Nova Scotia (CGA Nova Scotia) and the Certified Management Accountants of Nova Scotia (CMA Nova Scotia) announced they have entered into a merger agreement that will form the foundation of the merger of the three provincial bodies. A submission has also been made to the Province of Nova Scotia requesting a new Chartered Professional Accountants Act, which could be passed as soon as fall 2014.

Overseen by the Nova Scotia Transitional Steering Committee, comprised with equal representation from the three bodies, work will now begin on the development and implementation of a plan for integrating the three organizations. As detailed in the April 2014 Nova Scotia Merger Proposal, this will also include work with the Province of Nova Scotia and the Public Accountants Board of Nova Scotia towards public accounting licensing requirements that will maintain the existing practice rights of all members of the three bodies at the time of unification.

Until new legislation is passed, members will continue to use their existing designations and follow the acts, by-laws, codes of conduct and policies as required by their respective existing professional bodies.