Released on November 7, 2013
Finance Minister Ken Krawetz today introduced The Accounting Profession Act, to strengthen and unify the accounting profession in Saskatchewan.
The new Act will merge all Chartered Accountants (CAs), Certified Management Accountants (CMAs), and Certified General Accountants (CGAs) into a new self-regulating body called the Institute of Chartered Professional Accountants of Saskatchewan (CPA Saskatchewan) and grant them a new, common Chartered Professional Accountant (CPA) designation.
“Through this Act the merger will result in a modern, streamlined regulatory body which will help strengthen the accounting profession as well as provide Saskatchewan people with the assurance they are dealing with qualified accountants,” Krawetz said.
The legislation is part of a broader initiative to merge provincial and national professional accounting associations across Canada.
Under the new Act, only CPA’s will be able to certify that the preparation, review and audit of financial statements are in accordance with CPA Canada Handbook standards. A new certification program will be internationally recognized, combining the best of the existing programs. And an accounting profession with a regulatory system recognized internationally as robust and competitive will help support Saskatchewan’s economic objectives.
The provisions of the newly introduced Act are welcomed by the CPA Saskatchewan Joint Venture, the group currently representing the three existing accounting bodies in Saskatchewan.
“The new unified body will benefit the public by eliminating confusion over the qualifications of the different designations and by improving the standards of the profession,” CPA Saskatchewan Joint Venture CEO Keri Ziegler said. “Through this unification initiative, we have brought together the best qualities of each of the predecessor organizations. Our members will benefit from the best of all three worlds.”
CAs, CMAs and CGAs together represent all of the professional accountants in Saskatchewan, with approximately 4.400 members and 970 students.
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For more information, contact:
Jeff Welke
Finance
Regina
Phone: 306-787-6046
Email: jeff.welke@gov.sk.ca
Keri Ziegler
CPA Saskatchewan Joint Venture
Regina
Phone: 306-359-1010
Email: info@spajv.ca