The Government of British Columbia today introduced Bill 4, the Chartered Professional Accountants Act, to modernize and streamline regulation of the accounting profession in B.C.

Bill 4 will allow the three accountancy bodies - the Institute of Chartered Accountants of British Columbia (CAs), the Certified Management Accountants Society of British Columbia (CMAs), and Certified General Accountants Association of British Columbia (CGAs) - to unify their 34,000 members into a single organization, the Chartered Professional Accountants of British Columbia (CPABC).

The legislation will establish a new governance structure for the profession, authorize CPABC to provide for chartered professional accountant education programs, and allow CPABC to regulate, investigate and discipline members and students, as well as accounting corporations and firms that are registered by the CPABC.

CPABC will continue to regulate accounting services that members provide to the public, and accountants will continue to be required to meet strict professional and ethical conduct standards established by CPABC, just as they are under their current CGA, CMA and CA designations.

The unification of accountancy bodies into one organization is a national initiative that is underway in all Canadian provinces and territories. The Chartered Professional Accountants Act will ensure B.C. is consistent the broader changes in the accountancy profession across the country.

Media Contacts:

Stacey McGaghey Jones
Communications Manager
Ministry of Advanced Education
250 952-6400