On December 9, 2014, Bill 7, the Chartered Professional
Accountants Act ("Act") was passed by the
Legislative Assembly of Alberta. The Act aims to merge
three self-regulating accounting professions into one association
offering one single professional designation.
Currently, there are three professional accounting bodies in
Alberta - the Certified General Accountants' Association of
Alberta, the Certified Management Accountants of Alberta, and the
Institute of Chartered Accountants of Alberta. Upon proclamation,
these three bodies will amalgamate as the Chartered Professional
Accountants of Alberta and accountants may continue to practice
under the CPA designation.
The Act will replace the Regulated Accounting
Profession Act ("RAPA") which currently
governs the three accounting designations in Alberta.
Substantively, the Act does not differ largely from RAPA
other than establishing the CPA designation and amalgamating the
three professional bodies into the CPAA. However, minor changes
For those who have a CA, CMA, or CGA
designation, preserving that accountant's ability to use the
legacy designation along with the CPA designation (once the
Act is pronounced);
An increase in the amount of time the
regulatory body has jurisdiction over former registrants from two
years to six years; and
An increase in the fines payable for
each finding of unprofessional conduct from $20,000 to
All 40 accounting bodies in Canada have either passed or are
considering similar unification legislation. In Alberta, the
Act received Royal Assent on December 17, 2014 and will
come into force upon proclamation. The Legislative Assembly is
hopeful the Act will be proclaimed by mid-2015. Until the Act is
proclaimed, accountants in Alberta cannot use the CPA
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