The organizations representing chartered accountants and certified management accountants in Canada are considering a merger. The move would create an organization consisting of 100,000 members and 18,000 students, making it one of the largest accounting bodies in the world. Representatives of the two organizations in all provinces and territories are in formal talks over the proposal.

“This is a tremendous opportunity to create the pre-eminent business professional in Canada, with unmatched initial and continuing education, training, professional experience and discipline,” Canadian Institute of Chartered Accountants chairman Pierre Brunet said in a press release issued by both organizations.

“The new organization would bring greater clarity and strength to the accounting profession in Canada by eliminating much of the confusion that arises from multiple professional accounting bodies.”

The organizations cite a number of benefits to bringing Canada’s CAs and CMAs under one roof. They include: improved service to clients, employers, the public and members through economies of scale; higher standards to protect the public interest, particularly in the areas of corporate governance, financial management and audit and assurance; streamlined relationships with regulators and educators; and the creation of a stronger, more influential body in the increasingly globalized accounting profession.

“This merger would create a … body that is able to supply its markets with Canada’s pre-eminent business professionals,” CMA Canada chair Michael dos Santos said. “It would generate growth for the new profession and provide its members with broader career choices and enhanced opportunities.”