Canadian Accounting Regulators Consider Merger

Monday 28.06.2004 18:44 Uhr

Rubrik: News

Canada’s two accounting regulating bodies are considering a merger that would make the combined entity one of the world’s largest accounting organizations with about 100,000 members.

The merger of the Canadian Institute of Chartered Accountants (CICA) and CMA Canada could be effective by the New Year pending approval of territorial and provincial bodies. CMA Canada represents the country’s chartered and certified management accountants. The combined entity would certify accountants in three main areas of practice: management, audit and assurance and taxation, the Ottawa Business Journal reported. Currently, Canada is one of only a few industrialized nations that has two registration systems for accountants. „This is a tremendous opportunity to create the pre-eminent business professional in Canada, with unmatched initial and continuing education, training, professional experience and discipline,“ CICA chairman Pierre Brunet said in a statement. The two bodies would combine their rules of professional conduct and would streamline relations with regulators and educators. Further, accounting professionals would have to adhere to only one standard of certification. — AccountingWEB.

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