Member Engagement Session – Your questions answered

What is the plan to ensure Canada's reputation remains strong as a standard setter? 

Accounting standards form the basis of the Canadian and international business landscape. We proudly support the independent standard-setting process in Canada.

Even as Canadian standard setters move toward greater independence as are their international counterparts, CPA Canada will continue to provide the staffing and technical expertise for Canada’s standard-setting boards and oversight councils – as outlined in the recommendations of the Independent Review Committee on Standards Setting.

Separately from the standard-setting process itself, CPA Canada provides you with exclusive, valuable national standards guidance so that you can be accountable in your work.

CPA Canada will also continue to own and steward the intellectual property of the CPA Canada Handbook.

We are dedicated to doing our part to uphold the excellent reputation of Canada’s standard-setting boards. In addition to funding, CPA Canada provides the technical expertise and staffing required to assist the independent standard setting boards, so they can do their great work. Canada is well-known throughout the world for having the highest level of technical competence and depth in standard setting. At CPA Canada, we are proud of our role in that.

We spent years strengthening the CPA brand, creating a single unified voice for the profession in Canada. That effort is now unwinding. How are the three organizations going to ensure that the profession has a clear unified voice both within Canada and on the global stage?

CPA Canada is the Canadian representative at international boards, committees and organizations, and I don't think that's going to change. They engage directly with CPA Canada on matters concerning Canadian CPAs, thereby streamlining global discussions and avoiding inefficiencies.

We will continue to consult across Canada, as we look to gather opinions on different topics and as many thoughts as possible so that we can take Canada to the world.

International professional accountancy organizations collaborate on a nation-to-nation basis – and we have heard feedback from global peers that they prefer to continue to work with CPA Canada.

In Canada, we benefit from a diversity of industries and concentrations in different regions. CPA Canada gathers all of that information from across the country and synthesizes it to report into the international bodies. CPA Canada will ensure that process continues and includes all the provinces, territories and Bermuda.

How are we enabling current and future CPA's to be more tech forward thinking beyond Excel and into AI and the advanced analytics now in demand?

Our recent member survey results showed that accounting and tech is the topic you most want to learn more about. I firmly believe that the profession needs to take a leading role in how to harness AI for our wider economy.

CPAs can play an important role in building trust in the use of AI – through internal measures and external independent assurance. We are already working on a number of fronts to keep CPAs at the forefront of this transformational technology through our advocacy work as well as our research and education.

We actively monitor and respond to AI policy development, including our pre-budget recommendation that the federal government create a cabinet committee to handle opportunities and challenges posed by emerging technologies, such as AI and provided  feedback on Bill C-27, which contains new legislation to better regulate the AI industry. 

CPA Canada is working with our partners at AICPA to provide a research series this year, which outline significant changes in the space since our first joint paper on AI in 2019, provide guidance on governance and risk management and highlight the role of assurance and governance.

What can we do to make the CPA designation more valuable and prestigious for clients and the general public?

We are a profession of CPAs, not marketers, but we need to try to demonstrate all the great qualities and attributes that CPAs have and how useful and transferable those skills are across different economic sectors. CPAs need to embrace new technologies, sustainability and other relevant and valuable matters for the profession.  

There has never been a better time to be a CPA. There is much opportunity out there and I think our profession can really demonstrate leadership and agility during turbulent and changing times. Business itself is changing, and governance is changing, and we have an opportunity to lead. 

We know that becoming a CPA isn’t just a career choice, it’s a membership to a prestigious borderless profession. 

We take tremendous pride in our role to foster and nurture the Canadian CPA as the pre-eminent, globally respected business and accounting designation. 

CPA Canada’s work is 100 per cent committed to ensuring Canadian CPAs continue to not only gain access to unparalleled professional resources and opportunities but also remain part of a thriving community of accounting professionals to strengthen your own career potential as well as the impact of the profession writ large.

But let’s not pretend that there aren’t headwinds when it comes to attracting new candidates to the profession. We need a steady stream of people to fill the roles only a CPA can do and to maintain a vibrant and active community.

Through our national and international participation and influence, we continue to further enhance the reputation of, and trust in, the Canadian CPA designation.

As an Ontario CPA, is there a way to opt in for membership with CPA Canada and if not, how does this impact our access to information and resources published by CPA Canada?

We heard Ontario and Quebec CPAs loud and clear – you want to continue to be part of a national body. I can assure everyone that you will be able to retain your connection to CPA Canada

Work is well underway and we will announce a model for CPAs in Ontario and Quebec to continue their association with the national body this fall – before the regulatory bodies in those provinces withdraw from the national body on December 20.

Make sure you keep an eye on your inbox and our LinkedIn channel for more updates.

Why can't we be members of CPA Canada individually?

Ontario, Quebec and the other provincial, territorial and Bermudian bodies are organizational members of CPA Canada. That means that currently, every Canadian CPA is automatically an individual member of CPA Canada if you're a member of your provincial regulator in good standing. When Ontario and Quebec leave the federation in December, that's no longer the case. Therefore, we will make it possible, as an individual, to belong to your national body after that point.

What does CPA Canada intend to do to ensure an equitable proportion of French in all its communications and on all its platforms?

CPA Canada offers a wide range of resources, publications and professional development activities both in English and French, including a French version of Pivot, CPA Canada’s award-winning magazine.

In 2023, CPA Canada translated over 9,000 documents, representing 7.7 million words.

In addition to providing French language services to Canadian CPAs, CPA Canada provides the official French translation of International Accounting standards, including the IFRS standards. We also demonstrate our commitment to being a world leader for French-speaking CPAs through our membership in the FIDEF organization, the International Federation of French speaking accountants and auditors.

Is there a benefit in having both CPA Canada and CPA Quebec memberships?

The short answer is yes. We serve two very different functions.

There is a clear distinction between our role as the national body and that of the provincial regulators. What’s important to note is we are not a regulator.

The regulators, such as CPA Quebec, have a mandate to protect the public. Membership in those bodies is mandatory to maintain your designation. 

As I mentioned earlier – we understand and support the role of the provincial regulators, and as members, we also know how important it is to have a national body that is one hundred per cent focused on you.

CPA Canada will focus on the activities you want from a national organization. Activities that uphold and uplift the global credibility of the profession in the way only a national body can.

In a more globalized economy, there is strength in numbers, and we’ve heard the same from you over the past few months. CPA Canada will continue to be an active partner across provincial boundaries, giving you a voice on the national and global stage.

CPA Ontario functions as both a regulatory and member services body, while CPA Canada focuses solely on member services. How does CPA Canada view the benefits and challenges of having a dedicated member services body separate from regulatory functions and how does it ensure members' needs are fully met?

It's important that we as a body focus solely on our members. The regulators' authority descends directly from government, and they have to abide by the regulations and the acts, the statutes that they are accountable to. CPA Canada is only responsible to you, the member. We have always listened to our members, and we continue to closely and intentionally do so. Now that there is a change in the business landscape, the global community and certainly the profession. Here in Canada, the profession is undergoing quite a dynamic change, and it's so important that we continue to respond to the needs of the business community and the ecosystem of which we are such a fundamental part as CPAs and accountants, and I think only a national body can respond to the needs solely of its members.

There has been little said by CPA Ontario on why they specifically withdrew. Do you have any insights into why they did this without consulting with the membership?

You would be best served to ask this question of your provincial regulator.

CPA Canada values consultation and we want to hear from members. We think it's important to understand your needs, wants and what's important to you in the profession.

You've clearly told us that you believe in a strong national professional body. And so, we're here for you. We have been consulting with all our members since January, and I've heard from thousands of them individually, right across the country. You can also refer to our previous FAQs which provide a more detailed overview of withdrawal-related questions here.

Internationally, a lot of bodies are becoming more member centric, so how has CPA Canada taken steps to become more member centric both internally and externally?

With the poll that we've conducted, we've heard clearly from members and so we are really focusing on those things that you see as most important. We are taking a data driven approach to make sure what we are providing is of highest value to our members and to make sure we respond to their needs and we are listening to the business community at large.

We were heartened to see that the activities respondents told us they consider most essential for a national accounting body are also those we proudly provide for members, including: 

• maintaining the integrity of the CPA brand 
• uniform education and standards 
• recognition as a CPA Canada member 
• advocacy with national officials
• access to accounting resources 

An agreement was signed between CPA Canada and the provinces with respect to the education program. What other agreements have been signed to date? When can we expect further agreements to be signed to cover all other areas of collaboration?

All the provinces and territories, and Bermuda, together with CPA Canada signed a collaboration accord over 10 years ago, and that is the framework under which the whole profession works together as a National Federation. That is what CPA Ontario and Quebec have decided to withdraw from.

In respect to the education agreement, we had a tentative agreement that we reached in November. We are continuing to work with Ontario and Quebec through some issues to finalize agreements, which we have yet to do. We have not created any further agreements with Ontario and Quebec to date.

The collaboration accord is still functioning, and it's still working for the remaining PTBs and CPA Canada after December 20th. We look forward to reaching a conclusion at some point in the near future on those agreements with Ontario and Quebec.

Is there any work in progress to increase the international recognition of the Canadian CPA designation? This will help Canadian CPAs to work more in the US and globally.

CPA Canada negotiates international agreements with different bodies like the Global Accounting Alliance to ensure that CPAs from Canada can hit the ground running and be accredited in foreign jurisdictions right away. As well, especially with all of the immigration coming to Canada, those foreign qualified accountants coming into Canada can equally be recognized.

We just recently signed an agreement with CIMA and there are other agreements forthcoming. We currently have 12 international agreements. CPAs are in demand wherever they go and are highly respected with instant credibility and recognition as a Canadian CPA.

Is there any hope that the dispute between CPA Canada and the Ontario and Quebec organizations will be resolved so that the profession will remain unified? 

There is always a path back. There is always an opportunity to work together. The intent is for CPA Canada to continue working with all 13 provincial, territorial and Bermudian bodies going forward. 

It will be working together in a different way, and we will have to see how things unfold. I would say there's always an opportunity. However, the regulators in Ontario and Quebec seem quite determined on their path to withdraw and so we will have to work within that new way of working.

Would this change have any potential implications for standards governance, such as PSAB, which focuses on public sector accounting standards?

No, it should have no change at all. So, as you may know, all of our standard- setting boards in Canada are independent. They're fully independent, including PSAB.

CPA Canada houses the Secretariat and all of the expert staff that support those independent boards, and that certainly will continue. CPA Ontario and Quebec have stated publicly that they will continue to support Canadian standard setting and they will continue to fund CPA Canada or fund the standard-setting boards to help that work continue.

As a CPA in Ontario and teaching students in Ontario, what will be the access to the CPA Handbook on Knotia?

The CPA Canada Handbook is intellectual property that belongs to CPA Canada. We are working the issues out with our colleagues in Ontario and Quebec so that CPAs in Ontario and Quebec will have ongoing access to the CPA Canada Handbook.

It's a critical resource for all accounting professionals in Canada, so we look forward to coming to a final agreement with those provinces.

No one knows CPA Ontario or CPA Quebec, and so provincial disengaging with CPA Canada will result in loss of CPA identity at the global level. Like in the U.S., the national organization is well-recognized as opposed to state-based designations. Any comments?

In Canada, we're a small country. We are 2 per cent of global GDP, but internationally, CPA Canada and Canadians with CPA designations are extremely well-respected, way above what a 2 per cent proportion would indicate. It is unfortunate for Ontario and Quebec that they are withdrawing. They're losing some of their influence because the voice of those regulators will no longer be heard at international tables. 

However, we will continue to engage right across the country and will continue to advocate on behalf of the entire nation. 

I suspect that others outside your direct membership in the profession are interested in the current happenings. What type of engagement has CPA Canada had with these interested bystanders and stakeholders, and what are you hearing from them?

We are trying to inform them as best as we can about what's happening and how things are progressing, including the implications of the changes and how they might impact the Canadian ecosystem. 

Accounting underlies everything that happens in business, and it affects capital markets and attractiveness of capital to Canada and attractiveness as a profession to newcomers. So, we need to make sure that we continue to communicate as much as we can with anyone who has an interest and that's why it's so important that we continue to provide regular updates. 

We are aware that the world is watching now to see what happens in Canada. Considering the esteem in which CPA Canada is held globally, we know a number of different organizations are just as puzzled as to why this is happening and why now.

Are any cost increases anticipated for the CPAs and provinces that remain with CPA Canada?

No. CPA Canada's portion of the dues is $400 per member – it has been since 2018, long before my time at CPA Canada. We have no intention of raising dues and will take steps to ensure that doesn't happen. 

On the CPA Ontario website, it says that CPA Ontario had three core principles they needed to see included in the Collaboration Accord. The first is for direct oversight of CPA Canada. Please provide information on CPA Canada's view of this. 

That’s correct. There were three stipulations from Ontario and Quebec before they issued their announcement. Regarding direct oversight of CPA Canada, they wanted to eliminate individual members, maintaining more direct oversight of CPA Canada in terms of Board governance and the CPA Canada Board of Directors’ independence. 

As part of the national agreement, CPA Ontario and CPA Quebec already appoint board members to the CPA Canada Board, but it is a fiduciary board that acts in the best interests of CPA Canada. Of our board composition, we have two members from Ontario, two members from Quebec. So, the two together already make up four of the 12 Board members. We have one from Alberta, one from B.C., one from the rest of the Atlantic region and one from Manitoba and Saskatchewan combined. Then we have two public members who are not CPAs, bringing different skill sets to our Board.  We have a vice chair and a chair that are appointed by the board members. 

Ontario and Quebec already had an outsized representation on our board, but they were looking for more direct control of CPA Canada's activities. And it was a possibility we were open to exploring; however, we must abide by the bylaws and consult with our membership. 

We thought we had a path forward last May, and sadly, five days after all of the provinces and CPA Canada were together, those two regulators issued their announcements without any notice to any of us.

Will there be one CPA exam for FY 2025? Or one from each of the two regulators, Ontario, Quebec and/or CPA Canada?

We know a lot of students are wondering about this. The goal and certainly part of the announcement that was made in November with CPA Ontario, Quebec and Canada, was to ensure that students would not be negatively impacted by this change. We wanted to make sure that everyone pursuing their CPA designation could be confident that they would not be impacted. We know how important it is for students who want to get started on their careers. So, the idea is for us to reach a final agreement, which we're in the process of doing with Ontario and Quebec, such that no one will be impacted with respect to the current education.

Do I have a choice to stay with CPA Canada and not staying with CPA Ontario? Can I still be employed in Ontario without a CPA Ontario designation? 

If you are a resident of a provincial body, you must be a member of it to maintain your letters because they are your regulator. 

Being employed without the designation depends on what your job is, whether the role requires a designation or not. As an example, if you're a public accountant doing audits, you absolutely must have your membership with CPA Ontario. 

For members, it's not about a choice of either CPA Ontario or CPA Canada, instead it's a matter of there being value in both. 

If members that aren't part of CPA Canada, such as Ontario and Quebec, can opt in separately, it would seem only fair that members of other bodies such as Alberta or British Columbia could opt out of CPA Canada and save some money from their dues. When will that be an option?

The rest of the provinces value their membership as part of the Collaboration Accord and they will continue to be part of CPA Canada. So, your dues are not going to change. Even for Members in Ontario and Quebec, when they opt in to CPA Canada, they’re still going to be paying provincial dues. 

Most members agree that, for $400 per year, the value you get from CPA Canada is worth much more. They say they want to be part of that network, and we want you to be part of the national body, so I hope you will consider staying as a great benefit to you.

What is the process to join CPA Canada? 

Right now, if you are part of your provincial body and you have your letters, it's automatic, you're a member of CPA Canada. In the fall, we're going to talk to members in Ontario and Quebec specifically about how you can maintain your connection with CPA Canada. You will be able to join separately because it will no longer be an automatic process. So, stay tuned, we are going to continue to open up opportunities for you to join us and for us to welcome you again.

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