Founded in 1908, the Certified General Accountants Association of Canada (CGA-Canada) serves Certified General Accountants and students in Canada and nearly 100 countries. CGA-Canada established the designation's certification requirements and professional standards, offers professional development, conducts research and advocacy, and represents CGAs nationally and internationally. CGA-Canada joined the Chartered Professional Accountants of Canada (CPA Canada) to integrate operations under the CPA banner in 2015. CPA Canada is the new national accounting body formed by the merger of the Canadian Institute of Chartered Accountants (CICA) and the Society of Certified Management Accountants (CMA) in 2013, and now Certified General Accountants.
In October 2008, 2009, 2010, 2011, 2012 and 2013 CGA-Canada was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc., CGA-Canada has also been named one of "BC's Top Employers" and one of "Canada's Greenest Employers".
History
The national association, first known as the Canadian Accountants' Association, was founded in 1908 by a trio of Canadian Pacific Railway accountants in Montreal, Quebec. Five years later, in 1913, the General Accountants' Association, as it was then known, was granted a charter from the government of Canada. By the mid-1940s, association chapters were established from coast-to-coast. Provincial, territorial and regional (offshore) chapters were later established under their own charters.
Auditing rights are regulated by provincial governments. In Prince Edward Island, only qualified CAs and CGAs can perform public accounting and auditing in accordance with the Public Accounting and Auditing Act. In all other provinces, except Quebec and Ontario (detailed below), only qualified CAs, CGAs, and CMAs (Certified Management Accountants) may audit public companies.
1948 Bilingual origins: Examinations are offered in English and French in Quebec. The move to a bilingual organization is underway.
1950s CGA-British Columbia and the University of British Columbia's School of Commerce develop an innovative five-year extension program, available on campus or by correspondence. The program is later adopted in other jurisdictions and becomes a national curriculum standard.
1964 Education program goes international: The education program is extended to the Caribbean and Bermuda.
1974 Code of Ethics enshrined: CGA-Canada approves what would become the Code of Ethical Principles and Rules of Conduct.
1977 Founding member of IFAC: CGA-Canada becomes a founding member of the International Federation of Accountants (IFAC).
1982 Name change to the Certified General Accountants Association of Canada.
1988 John Leslie's award: The John Leslie Award is established in honour of the association's founding president and Chair, and recognizes exceptional service.
1987-1991 Competency-based accounting education: A major revision of the CGA education program is completed. Competency-based objectives, management emphasis and integration of ethics and information technology become hallmarks of the revised program.
1998 Degree required: CGAs are now required to obtain a bachelor's degree prior to certification. Partnerships are developed with universities to provide distance-learning options.
2003 Asian links secured: CGA-Hong Kong is granted affiliate status. CGA education materials are offered at more than a dozen Chinese universities.
2013 Unifying the accounting profession: CGA-Canada entered into an Integration Agreement with CPA Canada, the body responsible for the new national designation Chartered Professional Accountant.
2014 Unification completes in October 2014.
Historically Quebec and Ontario only allowed CAs to audit public companies. In 2004, the Ontario government passed legislation that would enable CAs, CGAs and CMAs to practice public accounting under a reconstituted Public Accountants Council, and as of June 2010 Ontario CGAs were allowed to issue audit opinions.
In August 2005, a panel was constituted under the Agreement on Internal Trade (AIT) to rule on a challenge filed by CGA New Brunswick and CGA-Canada. It found Quebec's measures denying CGAs the right to practice public accounting in Quebec to impair trade and recommended legislative changes. The Quebec government committed to address the problem. By November 2009, the 'Regulation respecting the public accountancy permit of the Ordre des comptables généraux accrédités du Québec' enabled qualified CGAs to offer the full range of public accounting services to for-profit and publicly listed companies.
On November 6, 2009, Ontario issued a Notice of Measure claiming that material differences exist in respect of the practice of public accounting in Canada and to protect consumers out of province public accountants would be assessed against Ontario's requirements. Manitoba supported by Alberta, British Columbia and Saskatchewan objected on the grounds that the Ontario regime causes injury to CGAs and impairs internal trade. A Panel convened under the Agreement on Internal Trade reviewed submissions and held a public hearing in Toronto on November 29, 2011. The Panel found that Ontario's notice of measure has impaired or would impair internal trade and has caused or would cause injury. The Panel recommended that Ontario comply with its AIT obligations by April 15, 2012. The outcome is important for CGAs because it removes the last barrier to mobility, allowing CGAs to practice anywhere in Canada.
In November 2008, Dr. Catherine Boivie was appointed to the Board of Directors as the Public Representative. Based in British Columbia, Dr. Boivie is the chief executive officer of Inventure Solutions and senior vice-president of information technology (IT) and facilities at Vancity, Canada's largest credit union.
In October 2013, CGA-Canada entered into an Integration Agreement with CPA Canada, the body responsible for the new national designation Chartered Professional Accountant. This followed most provincial CGA bodies ratifying the unification of the accounting profession in Canada.[1]
Education
CGA-Canada's professional education program is competency-based. Competency-based education requires candidates to perform tasks and roles to standards expected in the workplace.[2]
The knowledge, skills and professional values required of a CGA are reflected in a list of competencies. These competencies extend over three areas: professionalism, leadership and professional knowledge. They are validated periodically through extensive survey analysis. The CGA Competency Framework details the 130 competencies required of a newly certified CGA.
The complete academic program consists of 19 courses, two business cases, and professional qualification exams, spread over several levels: Levels 1 to 3 (Foundation Studies), Level 4 (Advanced Studies), and final level, the PACE qualification or certification level.[3]
A CGA must have an undergraduate degree. Students normally require 36 months of supervised work experiences, but in all cases they require a minimum of 24 months. They may meet the experience requirements in any business sector and in a variety of fields.
Before issuing audit opinions a CGA must first be licensed as a public accountant. The requirements for licensing include at least 500 public accounting hours per year.
CGA is recognized in 170+ countries through their partnership with ACCA.
Online learning
CGA-Canada has been providing online professional accounting education. Via the Internet, students can complete their studies using a system that integrates text material, study guides, video and audio tools, discussion forums, group case study and project work, web research and email.
Introduced in 2011, Professional Experience Required for Certification (PERC) is the national reporting process for students in the CGA program. With PERC, students can document their experiences online and submit it annually.
In addition to its own online program of studies, CGA-Canada has also developed online degree partnerships with several Canadian universities.[4]
Research
CGA-Canada develops research and supports positions with a view to influence social policy, regulation and standards-setting.
This initiative has resulted in the following research items.
IFRS Adoption in Canada: An Empirical Analysis of the Impact on Financial Statements (October 2013)
Empirical Testing of the Momentum Effect in Canadian Capital Markets (June 2013)
Money Talks: Emphasizing Wealth in Household Finances (May 2013)
Issue in Focus — Is the Capital Cost Allowance System in Canada Unnecessarily Complex? (April 2013)
Informed View — Mobile Payments in Canada – The Demand Side of the Equation (March 2013)
Youth Unemployment in Canada: Challenging Conventional Thinking? (October 2012)
Informed View — Starting Early – A Way to Improved Financial Literacy (September 2012)
Issue in Focus— Labour Shortages in Skilled Trades— The Best Guestimate? (July 17, 2012)
Informed View— Regulating Sustainability Reporting– Is a Mandatory Approach Better than a Voluntary One? (Dec 20, 2011)
Does Canada Have a Problem with Occupational Fraud? (Dec 6, 2011)
Issue in Focus— Planning for Retirement– There is No Substitute (Nov 2, 2011)
Informed View— The Bank of Canada's Overnight Rate– As Low and as Long as Needed (Oct 5, 2011)
Issue in Focus— The Need for Tax Simplification– A Challenge and an Opportunity (Aug 10, 2011)
A Driving Force No More: Have Canadian Consumers Reached Their Limits? (Jun 14, 2011)
Issue in Focus— Can We Get Better for Less? Value for Money in Canadian Health Care (May 11, 2011)
The Effects of IFRS on Financial Ratios: Early Evidence in Canada (Mar 16, 2011)
Issue in Focus— MD&A– Counterpart to or Distraction from Financial Reporting (Jan 17, 2011)
Small and Medium-Sized Enterprises: Rebuilding a Foundation for Post-Recovery Growth (Dec 7, 2010)
Small and Medium-Sized Enterprises— Country Focus: Canada (Dec 7, 2010)
Informed View— Shifting the Burden of Health Care Costs– Where To? (Nov 18, 2010)
Laying the Foundation for a National Entrepreneurship Strategy: The CGA Entrepreneurship Report (Oct 18, 2010)
Informed View— Living Standards– Measure it Right (Jul 29, 2010)
0CPA Australia/CGA-Canada: Report of the Forum on SME Issues— Unlocking the potential of the SME Sector (Jul 14, 2010)
Issue in Focus— Registered Education Savings Plans– Valuable Opportunities for the Students of Tomorrow (Jun 24, 2010)
Where Is the Money Now: The State of Canadian Household Debt as Conditions for Economic Recovery Emerge (May 11, 2010)
Gauging the Path of Private Canadian Pensions: 2010 Update on the State of Defined Benefit and Defined Contribution Pension Plans (Apr 30, 2010)
Earnings Quality Differential Between Canadian and U.S. Public Companies (Mar 31, 2010
Issue in Focus— Fair Value Accounting: The Road to Be Most Travelled (January 2010)
The Public Underwriting of Private Debt:The Prospect of Industry Targeting (December 2009)
Where Has the Money Gone: The State of Canadian Household Debt in a Stumbling Economy (May 2009)
The Federal Budget Surplus: Surprise or Strategy? (July 2008)
Where Does the Money Go: The Increasing Reliance on Household Debt in Canada (October 2007)
Fading Productivity: Making Sense of Canada's Productivity Challenge (May 2007)
Tackling Compliance: Small Business and Regulation in Canada (October 2006)
Demystifying Income Trusts (March 2006)
The State of Defined-Benefit Pension Plans in Canada: An Update (November 2005)
Measuring Up: A Study on Corporate Sustainability Reporting in Canada (June 2005)
Growing Up: The Social and Economic Implications of an Aging Population (January 2005)
Addressing the Pensions Dilemma in Canada (June 2004)
Mutual recognition agreements
In December 2006, CGA-Canada and the Association of Chartered Certified Accountants (ACCA) announced a mutual recognition agreement (MRA) to take effect on 1 January 2007. This agreement was renewed in 2011.
In April 2008, CGA-Canada and CPA Australia entered into a MRA to extend the global reach of both organizations into new continents.
In June 2009, CGA-Canada and CPA Ireland entered into a mutual recognition agreement. The MRA establishes a strategic partnership between the two leading accounting organizations and gives members the opportunity to qualify for another designation.
In June 2010, CGA-Canada and the Ordre des Experts-Comptables, France's foremost accounting organization, have entered into a MRA. Under this accord, CGAs and members of the CSOEC can be considered for membership by the other body.
An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant, or Registered Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization's financial statements, and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant, or may work independently without statutory privileges and obligations.
Certified General Accountant (CGA) is a professional designation granted to Canadian accountants. A person who meets the education, experience and examination requirements of the Certified General Accountants of Canada (CGA-Canada) is entitled to use the professional designation and add the letters "CGA" to their title. A CGA is jointly a member of CGA-Canada and a provincial or territorial CGA association, or a CGA association overseas.
Chartered accountants were the first accountants to form a professional accounting body, initially established in Scotland in 1854. The Edinburgh Society of Accountants (1854), the Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society of Accountants (1867) were each granted a royal charter almost from their inception. The title is an internationally recognised professional designation; the certified public accountant designation is generally equivalent to it. Women were able to become chartered accountants only following the Sex Disqualification (Removal) Act 1919 after which, in 1920, Mary Harris Smith was recognised by the Institute of Chartered Accountants in England and Wales and became the first woman chartered accountant in the world.
Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). It is the fourth-largest professional accounting body in the world, with 252,500 members and 526,000 future members. ACCA's headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of over 110 offices and centres in 51 countries - with 346 Approved Learning Partners (ALP) and more than 7,600 Approved Employers worldwide, who provide employee development.
The Institute of Chartered Accountants of India, abbreviated as ICAI, is India's largest professional accounting body under the administrative control of Ministry of Corporate Affairs, Government of India. It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament for promotion, development and regulation of the profession of Chartered Accountancy in India.
Generally Accepted Accounting Principles (GAAP) of Canada provided the framework of broad guidelines, conventions, rules and procedures of accounting. In early 2006, the AcSB decided to completely converge Canadian GAAP with international GAAP, i.e. International Financial Reporting Standards (IFRS), as set by the International Accounting Standards Board (IASB), for most entities that must follow AcSB standards. For publicly accountable enterprises, IFRS became mandatory in Canada for fiscal periods beginning after January 1, 2011. Privately accountable enterprises had the option of adopting IFRS, or a new set of standards called Accounting Standard for Private Enterprises (ASPE).
The Canadian Institute of Chartered Accountants (CICA) was incorporated by an Act of the Parliament of Canada in 1902, which later became known as the Canadian Institute of Chartered Accountants Act.
The Society of Management Accountants of Canada, also known as Certified Management Accountants of Canada and CMA Canada, awards the Certified Management Accountant designation in Canada.
The Common Final Examination (CFE) is the final examination of the Chartered Professional Accountant (CPA) professional designation in Canada. The 3-day CFE is the culmination of the rigorous two-year graduate-level CPA program. The exam not only includes important accounting disciplines like finance, governance, strategy, and assurance, but also evaluates professional skills such as critical analysis, decision-making, and professional judgment. Previously known as the Uniform Evaluation (UFE), the UFE has been discontinued following the unification of the three accounting designations (CA, CMA, CGA) in Canada and Bermuda in June 2015.
Accountancy in Hong Kong is regulated by the HKICPA under the Professional Accountants Ordinance. The auditing industry for limited companies is regulated under the Companies Ordinance, and other Ordinances such as the Securities and Futures Ordinance, the Listing Rules, etc.
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is an institution dedicated to Cost and Management Accounting education and research in Bangladesh. It is managed as an autonomous professional body under the Ministry of Commerce. As well as education, it is also engaged in regulating and promoting the profession of cost and management accountant in Bangladesh.
The Pakistan Institute of Public Finance Accountants (PIPFA) is an autonomous body recognized mainly in the government sector and established under license from the Securities and Exchange Commission of Pakistan by the authority given under section 42 of the Companies Ordinance, 1984.
Certified General Accountants of Ontario (CGA Ontario) is the professional association of certified general accountants in the province of Ontario, Canada. It is the largest affiliate organization of CGAs in the world, responsible for the accreditation, regulation and professional development of more than 20,000 CGAs in fields such as business and industry, government, the public sector, and professional practice. CGA Ontario also administers and delivers the CGA program of professional studies to more than 8,000 students, granting exclusive rights to the CGA designation in Ontario.
The Registered Professional Accountant (RPA) is a Canadian accounting designation granted by the Society of Professional Accountants of Canada (SPAC), a federally chartered non profit organization. The designation requires completion of university or college courses set by SPAC and passing four Mandatory Professional Exams (MPE): Financial Accounting, Management Accounting, Taxation, and Data Analytics and Technology. The Registered Professional Accountant has five pathways to designation, making it an accessible choice for accounting students.
Chartered Professional Accountant is the professional designation which united the three Canadian accounting designations that previously existed:
CPA Ireland, formerly the Institute of Certified Public Accountants in Ireland, is one of the main Irish accountancy bodies, with 5,000 members and students.
The Institute of Certified Management Accountants of Sri Lanka, is a professional body offering qualification in management accountancy in Sri Lanka.
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 (CICA), the Society of Management Accountants of Canada and Certified General Accountants of Canada (CGA-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.
Canada was the second nation in the world to formally organize its accounting profession, after the United Kingdom, but it occurred in a fragmented manner by both locality and specialty. It would only begin to experience significant consolidation from 2012 onwards.
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