WHITEHORSE—Minister of Community Services Currie Dixon tabled Bill 97, the Chartered Professional Accountants Act, today in the Yukon Legislative Assembly.
The legislation will combine three current designations to create a single professional designation for Yukon’s regulated accountants, called a Chartered Professional Accountant (CPA). The CPA designation is being adopted across the country as part of a national initiative to ensure consistency, protect the public interest and serve Canada’s economic interests locally and internationally.
“The Yukon government is streamlining and modernizing legislation that will simplify the selection process for consumers when using the services of professional accountants,”
Dixon said. “Yukon’s accounting profession will join colleagues across the country in uniting under a single professional designation.”
This legislation is a direct result of a community conversation that took place last fall. Industry members asked for this change, and the Government of Yukon listened. The bill repeals the Chartered Accountants Act, the Certified General Accountants Act and the Certified Management Accountants Act, replacing them all with the single Chartered Professional Accountants Act.
Those who already have a Chartered Accountant (CA), Certified Management Accountant (CMA) or Certified General Accountant (CGA) designation will receive the additional CPA designation on a ‘grandfathered’, or legacy, basis. These former designations will be retained for a ten-year transition period, in addition to the new CPA designation. Further, the new designation will be recognized across the country, putting Yukon’s accountants on par with other jurisdictions.
“Yukon’s professional accountants play a key role in many sectors of our economy,” Dixon added. “This initiative will ensure consistency for them with their counterparts across the country.”
Once the legislation is proclaimed, new and future professional accountants will be identified simply with the CPA designation.
Bonnie Venton Ross
Communications, Community Services