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CGA, CA and CMA Sign Agreement to Pursue Merger
We are pleased to announce that the Chairs and CEOs of the Certified Management Accountants Society of BC (CMA BC) and the Certified General Accountants Association of BC (CGA-BC), and the President and CEO of the Institute of Chartered Accountants of BC (ICABC) have signed an agreement to pursue a merger. The three self-regulated accounting designations will work together to become the Chartered Professional Accountants of BC (CPABC) under the national CPA banner.
After extensive consultation, the agreement was reached following votes by the ICABC Council, CGA-BC Board and CMA BC Board in favour of unifying the three organizations. Together, ICABC, CGA-BC and CMA BC will work with the provincial government to enact CPA legislation, legally merge, and establish CPABC.
The three organizations will work together to build Canada’s pre-eminent accounting and business designation. With more than 34,000 members and students in BC, CPABC will foster the growth and evolution of the accounting profession, while also providing the expertise to help businesses in every sector of the economy.
Prior to the enactment of CPA legislation, the three organizations will jointly deliver the nationally-developed CPA Professional Education Program (CPA PEP) and CPA Prerequisite Education Program (CPA PREP) to BC students beginning in the fall of 2013. We will also continue to work with students currently enrolled in the CA, CGA, and CMA programs to complete their studies or transition into the CPA program.
The ICABC, CMA BC, and CGA-BC are working on appointing a Transitional Steering Committee to further guide the strategic direction and development of CPABC, and to support the implementation of the CPA PEP. A further plan to merge all three member services and operations is under development and we expect integrated activity to continue.
Positive momentum continues throughout Canada. CGA-Canada, along with its international affiliates in Asia and the Caribbean and CGA bodies in the Northwest Territories/Nunavut, Yukon, Prince Edward Island and Nova Scotia, rejoined unification discussions on April 24, 2013. In Alberta, CGA, CMA and CA announced that they have signed a plan for the unification of the three regulated accounting designations under the national CPA banner.
Until such time as legislative changes are enacted, CA, CGA, and CMA members will maintain their current designation, and the ICABC, CGA-BC and CMA BC will continue their existing mandates of self-regulation, education, and advocacy.
We will continue to keep you updated as things progress, and will be posting information as it becomes available to our websites and our social media channels.