Congratulations to All our Fellow CPAs throughout Alberta
Mark down July 1st, 2015 as another historic day for both Canada and Alberta. This month marks the official start of the Chartered Professional Accountants (CPA) designation in Alberta. What does this mean for the general public and Edmonton’s business community? Not too much, but our clients now no longer have to try to understand the differences between a CA, CGA or CMA designation. It’s business as usual here at Hawkings Epp Dumont.
Internally a lot will change now that all of our certified accountants work under one designation. And they will continue to work hard to excel and learn more about specific areas of strategy, auditing, finance and tax. As a source for financial advice for local businesses, Hawkings Epp Dumont will still manage the technical aspects of working with high-level industry executives, and we will still provide expert advice to the general public during tax time — and whenever they need a hand with their finances.
Before this historic amalgamation, large corporations, small businesses and the general public had to choose between hiring a Chartered Accountant (CA), Certified General Accountant (CGA) or a Certified Management Accountant (CMA). Each designation once played a specific role in Canada’s intricate accounting system, but the lines began to blur in the early 1990s. Then on May 24, 2011, both the CA and CMA of Canada consolidated for unification. It wasn’t until October 1, 2014, that all three designations finally merged to form one CPA Canada. One year later, Canada now has one of the five largest accounting bodies in the world.
But the old designation won’t disappear completely. Besides the new CPA designation, existing accountants can add their former CA, CGA or CMA titles until November 2022. If at any time you have questions about what that means for your business and your finances don’t hesitate to ask your Hawkings Epp Dumont representative. After all, finding answers to questions is what we do best.