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The Quebec CPA Order recommends transparency and predictability for the recovery

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Montreal, March 9, 2021 – In the unprecedented context of a pandemic that has gripped the world for more than a year, the Quebec CPA Order urges the Quebec government to be prudent, thorough and transparent in its efforts to return to a balanced budget.

“Without a doubt, the past year’s massive spending was necessary. The government must continue to support businesses, the health care and educational systems, and citizens in need. However, it must also manage Quebec’s debt responsibly and plan a cautiously paced return to a balanced budget, suited to the unusual situation we’ve been dealing with for a year now,” said Geneviève Mottard, CPA, CA, President and Chief Executive Officer of the Quebec CPA Order.

To promote predictability and transparency in financial reporting, the Quebec CPA Order is reiterating past proposals that are more relevant than ever in 2021:

  • The creation of a parliamentary budget officer position 
  • The preparation of long-term economic and fiscal forecasts that are revised annually 
  • The review of the government’s consolidated financial statements by parliamentarians, in the presence of the Auditor General
  • A review of the 284 tax measures currently in effect, so every dollar that the government invests contributes to the recovery
  • A review of the Generations Fund’s debt reduction objectives and management mechanisms
“A major fiscal effort, likely spanning several years, will be required to emerge from this crisis and support economic recovery. Sound governance of public finances, and responsible debt management are indispensable for Quebec to come out of this with pride while ensuring intergenerational equity,” concluded Ms. Mottard.

 

About the Quebec CPA Order
The Ordre des comptables professionnels agréés du Québec has 40,000 members and 5,000 future CPAs, making it the third largest professional order in Quebec. The Order ensures the protection of the public and the visibility of the profession. It represents all areas of expertise of the accounting profession, including financial reporting, management accounting, strategy and governance, audit and assurance, finance and taxation.

See the brief submitted by the Order (in French only). 

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Information: 

Fanie St-Pierre
Advisor, Public Relations and Societal Communications
Ordre des CPA du Québec
T. 514 288-3256 [2763] 1 800 363-4688
relationsmedias@cpaquebec.ca

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