Professional services to third parties

Are you considering offering or do you already offer professional services to the public (including friends and family) in the areas of public accountancy, management or taxation, with or without compensation,  in public practice, in a firm or for your own account

Find in this section everything you should know about opening, managing and closing your firm.

  Step 1 – Getting prepared

Services CPAs can offer

The professional services that CPAs can offer to third parties are not limited to acts reserved for Order members, such as performing audit and review engagements (for which a public accountancy permit is required), and issuing notice to reader communications and special reports. 

All the activities referred to in section 4 of the CPA Act, whether they relate to public accountancy, management, or personal and corporate taxation, are included in the services CPAs can offer.

Keeping your competencies up to date

Before offering your services to third parties, ensure that your competencies in the areas related to the services you will be offering are current, in accordance with the compulsory continuing education requirements.

Prerequisites for practicing public accountancy

If you wish to offer public accountancy services, i.e. issuing notice to reader communications, review engagement reports or audit reports, you may be required to submit an evaluation request respecting the delivery of services to third parties to the Order before you begin offering these services. 

Note that a public accountancy permit is mandatory to perform review and audit engagements.

Professional liability insurance

Before offering your services to third parties, you must submit a declaration to the group plan administrator, ACPAI Insurance. Your professional liability insurance must reflect your professional situation at all times.

Administration and holding of property and money belonging to third parties

If you intend to administer or hold property or money belonging to third parties as part of your practice, you must report to the Order and open a trust account.

Relevant legislation and references

   Step 2 – Getting started

Starting your firm and declaring it to the Order

Managing your firm

Restructuring your firm

Relevant legislation and references

   Step 3 – Withdrawing

Closing your firm (permanently or temporarily)

Selling your clientele

Death and estate

Relevant legislation and references