Skip to main content

CGA Canada authorised to conduct statutory audit of companies+Equal treatment of accounting institutes ...

CGAs are employed by businesses of all sizes and from all sectors. A number of them are partners in public practice firms; others work in government, industry, commerce, or non-profit sector. As of 2005, CGAs are authorized by provincial legislations to perform audits of public companies in every province and territory in Canada, except Quebec.

Judicial rulings have granted CGAs the rights to audit a selected list of public bodies in Quebec. Pursuant to the terms of the Agreement of Internal Trade (AIT), CGA-Canada has commenced challenges to the audit restrictions in Quebec. The AIT panel ruled that the Government of Quebec must take actions to resolve the barrier of entry into Quebec public accounting for CGAs. As of December 2006, the Quebec Government on introducing legislation that, if passed, will open the field of public accounting to CGAs in Quebec.

On 18 December 2006, CGA Canada and the Association of Chartered Certified Accountants (ACCA) announced a Mutual Recognition Agreement to take effect on 1 January 2007. Details
Certified General Accountant (CGA) is a professional designation representing accountants and members of the Certified General Accountants Association of Canada (CGA-Canada), provincial and territorial CGA Associations as well as CGA Associations overseas, which was founded in 1908 and was officially established by an Act of Parliament on June 6, 1913. Having over 41,000 certified members and 23,000 students in 2006, CGA is the second largest and fastest growing professional accounting designation in Canada.

In order to become a CGA, one must successfully complete the CGA professional studies program, which consists of 15 foundation and advanced courses, four professional admission certification examination (PACE) courses, and two business cases. A candidate must also hold a post-secondary bachelor degree and satisfy practical experience requirements before certification.

The CGA program of professional studies is currently being offered in Canada, in Bermuda, in several Caribbean countries, and in a number of universities throughout China and Hong Kong. CGA currently has about 2,000 international members.
Blog Contributed by RV
PS: Added by SP

RSS Feeds to keep you alive and up-to-date
  1. Management Accountant
  2. Accountancy News
  3. My Favorite Blogs that I track


santoshputhran said…
Comment from Davindar, Canada which I got in my inbox


Here IN CANADA they are around 50000 CGA 's which are fighting for statutory audit with CA . Recently their is a amendment in the law.


DavindarS Bhatia

Popular posts from this blog

Learning Curve Theory

Learning Curve Theory is concerned with the idea that when a new job, process or activity commences for the first time it is likely that the workforce involved will not achieve maximum efficiency immediately. Repetition of the task is likely to make the people more confident and knowledgeable and will eventually result in a more efficient and rapid operation. Eventually the learning process will stop after continually repeating the job. As a consequence the time to complete a task will initially decline and then stabilise once efficient working is achieved. The cumulative average time per unit is assumed to decrease by a constant percentage every time that output doubles. Cumulative average time refers to the average time per unit for all units produced so far, from and including the first one made.

Major areas within management accounting where learning curve theory is likely to have consequences and suggest potential limitations of this theory.

Areas of consequence:
A Standard Costing

Resistence to Change - Approaches of Kotter and Schlesinger

The Six (6) Change Approaches of Kotter and Schlesinger is a model to prevent, decrease or minimize resistance to change in organizations.
According to Kotter and Schlesinger (1979), there are four reasons that certain people are resisting change: Parochial self-interest (some people are concerned with the implication of the change for themselves ad how it may effect their own interests, rather than considering the effects for the success of the business)Misunderstanding(communication problems; inadequate information)Low tolerance to change (certain people are very keen on security and stability in their work)Different assessments of the situation (some employees may disagree on the reasons for the change and on the advantages and disadvantages of the change process) Kotter and Schlesinger set out the following six (6) change approaches to deal with this resistance to change: Education and Communication - Where there is a lack…

Throughput Accounting

Throughput accounting (TA) is an alternative to cost accounting proposed by Eliyahu M. Goldratt. It is not based on Standard Costing or Activity Based Costing (ABC). Throughput Accounting is not costing and it does not allocate costs to products and services. It can be viewed as business intelligence for profit maximization. Conceptually throughput accounting seeks to increase the velocity at which products move through an organization by eliminiating bottlenecks within the organization.

Cost (or Management) accounting is an organization's internal method used to measure efficiency. Since no one outside the organization uses such internal accounts for investment or other decisions, any methods that an organization finds helpful can be used.

Throughput accounting improves profit performance with better management decisions by using measurements that more closely reflect the effect of decisions on three critical monetary variables (throughput, inventory, and operating expense — defin…