A new approach for the profession

The Quebec CPA Order will continue to fund and work with the standard-setting bodies. In addition, a new independent entity (StandardsCo) was created in October 2024 based on the recommendations made in the report of the Independent Review Committee on Standard Setting in Canada.

An agreement was signed with CPA Canada that guarantees uninterrupted access to the CPA Canada Handbook and guidance from standards boards. For the time being, you can access these resources following the usual process. The Quebec CPA Order will definitely notify you in the event that this process changes.

Members of the Quebec CPA Order may continue to work in all Canadian provinces and abroad because professional mobility falls under the jurisdiction of the Quebec CPA Order and is based on mutual recognition or reciprocity agreements and admission by equivalence processes.

The Order’s withdrawal from the current version of the Collaboration Agreement with CPA Canada has no impact on the unification of the profession, i.e. the merger of the three accounting designations into the single CPA designation, because the Quebec CPA Order is still working with all provinces and territories and will continue to do so. Moreover, it is important to note that the profession will remain unified because this is enshrined in the legislation of all provinces and not because of any particular role played by CPA Canada. On that note, the provinces and territories have determined the elements on which they want to keep working together, which include the qualification criteria, the funding of standard-setting bodies, the new certification program and the mutual and/or reciprocity agreements.

The Order’s Board of directors made this carefully considered decision after more than five years of in-depth discussions with the provincial and territorial bodies and CPA Canada. This decision strengthens the Quebec CPA Order’s ability to carry out its mission of protecting the public.

The Order will now have at its disposal large amounts of money that were previously paid to CPA Canada but not used for its mission of protecting the public. It can become more agile and innovative, given the unique legislative and regulatory environment in Quebec and the key role that CPAs play in our economy and our society in general.

There are many benefits. With this change, the Quebec CPA Order will immediately be able to secure a more sustainable future for the CPA profession, while complying with Quebec’s legislative framework and fulfilling the mission of protecting the public that was conferred on it by the Quebec government. Furthermore, the Order will now have at its disposal large amounts of money that were previously paid to CPA Canada and enjoy more freedom in carrying out activities related to its mission. Finally, this approach will help modernize the accounting profession in Quebec and ensure that CPA members and candidates for the practice of the profession have access to quality support in step with the rapidly changing business world and Quebec’s unique realities.

Thanks to this change in governance, Quebec CPAs will be supported by a more agile and innovative professional order. Their access to certain tools that were previously offered to them for free (e.g. guides, thought leadership, articles on the digital age and ESG) may eventually be restricted. However, this will not affect the main activities of CPA members and candidates for the profession in Quebec. For the time being, you can access the CPA Canada Handbook and guidance from standards boards following the usual process. The Quebec CPA Order will definitely notify you in the event that this process changes.

In their ongoing efforts to fulfill the Order’s primary mission of protecting the public, the Quebec CPA Order’s teams will make sure that members have access to tools that not only meet their needs, but also comply with the unique legislative and regulatory environment in Quebec.