CPA Canada


Chartered Professional Accountants of Canada is the national organization representing the Canadian accounting profession through the unification of the three largest accounting organizations: the Canadian Institute of Chartered Accountants, the Society of Management Accountants of Canada and Certified General Accountants of Canada, as well as the 40 national and provincial accounting bodies. It is one of the largest organizations of its type in the world, with over 217,000 Chartered Professional Accountants in Canada and around the world.
CPA Canada conducts research on business issues, supports the setting of accounting, auditing and assurance standards for business, non-profits and government, issues guidance and leadership connected to accounting, auditing, assurance and financial literacy, and generally supports the profession of accounting in Canada.

History

Historically, Canada had three nationally recognized accounting classifications until 2013: Chartered Accountant, Certified Management Accountant, and Certified General Accountant. The national CA and CGA designations were created by Acts of Parliament in 1902 and 1913. The Canada Corporations Act of 1920 established the CMA designation.
In January 2012, after eight months of discussions between members and stakeholders, the Canadian Institute of Chartered Accountants, the Society of Management Accountants of Canada and Certified General Accountants of Canada published A Framework for Uniting the Canadian Accounting Profession. The document proposed the unification of the separate organizations into one new designation: Canadian Chartered Professional Accountant-CPA.
One year later, on January 1, 2013, under the Canada Not-For-Profit Corporation Act, Chartered Professional Accountants of Canada was established by CICA and CMA Canada.The Act supported provincial accounting bodies that were coming together under the CPA designation. On October 1, 2014 CGA-Canada joined CPA-Canada, finishing the process of bringing all of Canada's professional accounting organizations together under the auspices of one nationally recognized organization. Today all recognized provincial and national Canadian accounting organizations are unified under the CPA designation. There are over 217,000 members in Canada and internationally who hold the Canadian CPA designation.

CPA Competency Map

The CPA Competency Map lays the foundation for the CPA certification program, including education, accreditation, examinations, and practical experience requirements, and describes the knowledge, skills and proficiency levels you must achieve to become a Canadian CPA.

Technical Competencies

  1. Financial Reporting
  2. Management Accounting
  3. Strategy & Governance
  4. Audit & Assurance
  5. Corporate Finance
  6. Taxation

    Enabling Competencies (2020)

  7. Acting Ethically and Demonstrating Professional Values
  8. Leading
  9. Collaborating
  10. Managing Self
  11. Adding Value
  12. Solving Problems and Making Decisions
  13. Communicating
Former CFE Competency Map :
  1. Professional & Ethical Behaviour
  2. Problem solving & Decision making
  3. Written & Oral communications
  4. Self Management
  5. Leadership & Teamwork

    Economic and social development

One of CPA Canada's mandates is to improve the financial literacy of the citizens of Canada through providing education done through the organization's Financial Literacy Program.
CPA Canada and AFOA Canada signed a Memorandum of Understanding in February 2016 which included a provision for CPA Canada to integrate some course material from its ACAF program into the program which trains Certified Aboriginal Financial Managers,. This proposal allows CAFM students to obtain an ACAF more quickly. In 2008 the Martin Family Initiative asked CPA Canada to create a mentoring program which would enhance the chances for educational changes for indigenous youth. The program expanded in 2015 to include the McCarthy Tetrault law firm and the Accounting and Legal Mentorship Program found in 29 schools. The program has succeeded in increasing graduation rates, motivated students to stay in school beyond the secondary level, and helped them find jobs, especially in the legal and accounting industries.

Public policy and government

The organization helps develop public policy through its involvement in the process. CPA Canada contributes its expertise on many issues relating to tax and fiscal policy, financial literacy, skills development, climate adaptation, immigration, trade, ethics, good governance and accountability. They are also called on to opine on budget prioritization, tax reform and responsible budgeting. Goals include the strengthening of financial literacy and supporting infrastructure projects that stimulate productivity.

Thought leadership

The organization offers guidance on accounting and business issues to its members and others through its publications, webinars, videos, blogs and other types of media. Among the subjects addressed are sustainability, tax, management and the future of financial reporting.

Education

Before CPA candidates can acquire certification they must complete a certification program which is developed by CPA Canada. The program is made up of education, a period of time in which candidates must meet relevant experience requirements, and at the end of the process they must take and pass the Common Final Examination. The program meets or surpasses all International Federation of Accountants standards for practical experience and education plus it meets the requirements of the main international accounting certification bodies.

Exemptions

CPA Canada recognizes many post-secondary institutions and accredit them to deliver part or all of its educations requirements from preparatory courses and Professional Education Program in the undergrad and graduate levels. These accredited programs feature courses provided through a combination of undergraduate and graduate programs that result in either a graduate diploma or master's degree, such as University of Waterloo School of Accounting and Finance and Brock University's Goodman School of Business offer the Master of Accounting program that waive all the modules and education requirements up until the Common Final Examination.

President and CEO

Joy Thomas, FCPA, FCMA became president and CEO of CPA Canada on April 1, 2016. Thomas had held the position of executive vice president until then. She was a participant in the process that united Canada's accounting profession under one designation. Thomas was appointed to the National Steering Committee on Financial Literacy in February 2017. She is a board director and a member of the governance committee of the International Federation of Accountants. Thomas was also on the board and Chair of the Audit Committee of the Financial Planning Standards Board Ltd.
After 4 years of service at CPA Canada, Joy Thomas will step down as President and CEO. The role is succeeded by Charles-Antoine St-Jean, FCPA, FCA, as President and CEO, effective July 20, 2020.

International representation

CPA Canada fulfills one of its mandates to represent Canadian accountants internationally through its membership in the following organizations: