Legislation Formally Merges Accounting Bodies Into One

first_imgProfessional accountants in Nova Scotia will be governed by one organization, Chartered Professional Accountants of Nova Scotia, as the province completes the required legislation to merge the three former accounting bodies. Legislation introduced today, Nov. 27, will merge the certified general accountants, certified management accountants, and chartered accountants as chartered professional accountants in Nova Scotia. This is part of a nationwide initiative. “I’m pleased to see the framework is now in place for the Chartered Professional Accountants of Nova Scotia to assume regulatory oversight of accountants while ensuring Nova Scotians continue to receive quality service from the profession,” said Finance and Treasury Board Minister Randy Delorey. The Chartered Professional Accountants of Nova Scotia and a board of directors was established in May 2015 when the new chartered professional accountant designation was created. Today’s second stage completes the merger and creates the regulatory framework for the organization to govern the membership. It will work to complete bylaws and the legislation will then be proclaimed. This is expected in spring 2016. “This legislation will create a single accounting designation in the province. The public can have full confidence that it is the highest standard in accounting and business excellence in Canada,” said Patricia Towler, CEO, Chartered Professional Accountants of Nova Scotia. “Under the chartered professional accountant banner, Nova Scotians will be served by over 4,000 accounting professionals in every sphere of business, government and the non-profit sector. We are thrilled the final legislation is now before the house.”last_img read more