The governing boards of the Certified Management Accountants of Alberta (CMA Alberta) and Certified General Accountants of Alberta (CGA Alberta) voted Friday to unify as part of a national effort to create a single Canadian accounting designation.
The two organizations have more than 13,000 professionally designated members from working in Alberta and around the world.
The vote follows a 75% affirmative response last June from members of both bodies in favour of the unification proposal.
“Unification will reduce confusion in the marketplace,” says John Carpenter, CEO of CGA Alberta. “Operating under a single designation makes economic and strategic sense and will make the Canadian accounting profession even more relevant at home and around the world.”
“Not only are we strengthening our team by bringing together more than 13,000 professional accountants in Alberta, we can create relevant services for our members and stakeholders in ways we cannot as competitors,” adds Kara Mitchelmore, president and CEO of CMA Alberta.
Mitchelmore notes the national unification effort has created an opportunity to build on the strengths of the three accounting education programs. “We have taken what we know about professional education and worked together nationally to develop one of the world’s best and most contemporary approaches to education in a new CPA Canada Education Program,” she said. “Under this new program, we can develop business professionals of more value than ever before.”
Similar unification processes are underway across Canada. Last May, the Quebec government altered provincial legislation to pave the way for the creation of CPA Quebec, bringing together the CGA, CMA and Chartered Accountants (CA) of Quebec. In September, the boards of the national CMA and CA organizations announced they would merge their operations beginning in January.
However, the Certified General Accountants Association of Canada (CGA Canada) formally broke off discussions with the national CMA and CA organizations in May.
Merger of accounting groups stalls
Following Friday’s vote, a “unification agency” will be formed to bring the two organizations together. Students currently enrolled in CMA and CGA programs will continue to receive the legacy designation education for the time being. For new students planning a career in accounting and business, the CPA Canada education program will be phased in beginning next September.
The unified organization will now approach the provincial government to request amendments to the Regulated Accounting Profession Act, the governing legislation for the accounting profession in Alberta. Amendments to this act must take place to create the Chartered Professional Accountant designation in Alberta.