CPA legislation introduced in British Columbia

With the introduction of the Chartered Professional Accountants Act, the three accountancy bodies in British Columbia are one step closer to unifying their members into a single organization.

CPA Act introduced to British Columbia Legislature

On Wednesday, February 11, 2015, the Government of British Columbia introduced Bill 4, the Chartered Professional Accountants Act, to modernize and streamline regulation of the accounting profession in British Columbia.

Bill 4 will allow the three accountancy bodies - the Institute of Chartered Accountants of British Columbia (ICABC), Certified Management Accountants Society of British Columbia (CMABC), and Certified General Accountants Association of British Columbia (CGA-BC) - to unify their 34,000 members and legacy and CPA students and candidates into a single organization, the Chartered Professional Accountants of British Columbia (CPABC).

On the path to unification

With the support of the Government of British Columbia and the three accountancy bodies, CPABC anticipates that the Act will move quickly through the House, with legislation being passed in the spring.

Once enacted, the legislation will:

  • establish a new governance structure for the accounting profession in British Columbia
  • authorize CPABC to provide CPA education programs
  • allow CPABC to regulate, investigate and discipline members and students, as well as accounting corporations and firms that are registered by CPABC

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.

Highlights

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