About CPA Ontario
CPA Ontario protects the public interest by ensuring its members meet the highest standards of integrity and expertise. CPA Ontario serves and supports its nearly 84,000 members and 22,000 students in their qualification and professional development in a wide range of senior positions in public accounting, business, finance, government, not-for-profits and academe. Chartered Professional Accountants are valued by organizations of all types and sizes for their financial expertise, strategic thinking, business insight, management skills and leadership.
CPA Ontario plays multiple roles
Message from the Chair
At CPA Ontario governance tables this year, new colleagues gathered for new conversations. Navigating unknown territory is seldom easy—but the integration process has been defined by a palpable sense of opportunity. It has unlocked ideas and sparked ambition.
Message from the President & CEO
The past year at CPA Ontario has been defined by challenge and change. It has also been a year that has made us stronger—a year in which we can take great pride.
CPA Ontario adds value to the professional lives of its members through advisory services, professional development programs, networking opportunities, and member benefits. The new, integrated CPA Ontario will deliver more in each of these areas: more depth and breadth of programming, offered in more locations and through more channels; more opportunities to connect with fellow professionals; and more concrete benefits.
In the year ahead
CPA Ontario will continue to connect CPAs and deliver exceptional professional development opportunities and benefits. As we complete integration of the legacy organizations, CPAs can expect an enhanced member experience online, and in person, with harmonized processes and increased efficiency.
For a profession to thrive over time, it needs two elements: new members, who see opportunity there, and experienced members, who share knowledge, insight, expertise, and a commitment to the profession’s standards and ethics. The past year attests to CPA Ontario having both of these in abundance. We continue to energetically foster the future of the profession, as well as link new and experienced members. This year, the student recruitment team connected with over 50,000 students.
In the year ahead
CPA Ontario will continue to work with post-secondary institutions, employers and community agencies to ensure a clear path for outstanding students to enter our profession, whether they are new graduates from post-secondary institutions or international professionals launching the next phase of their careers in Ontario.
CPA Ontario members share a deep commitment to upholding the public’s trust. In a recent member survey, the province’s CPAs affirmed once again that regulating the profession and upholding the highest professional standards are the most important functions of CPA Ontario. Throughout the unification process, maintaining the rigour and credibility of our regulatory oversight has been a top priority.
In the year ahead
CPA Ontario will continue to support members in maintaining the highest standards of ethics and integrity as they navigate changes in their business environments and participate in a newly unified professional body. CPA Ontario will continue to be an important contributor to CPA Canada committees and working groups, collaborating to protect the public interest and support the health of our profession.
Ontario’s CPAs have a proud tradition of contributing to their communities, both individually and as a profession. This year, once again, CPA Ontario and its members have demonstrated a strong commitment to helping the province’s students, residents and communities thrive.
In the year ahead
CPA Ontario and its members will continue to share skills and knowledge for the benefit of Ontario’s communities—now with greater impact than ever, as one unified profession. We will also continue to engage the province’s most dynamic students, spreading awareness of the CPA designation among young leaders.
The expertise of accounting professionals in Ontario has always been a critical asset to our profession and clients. CPA Ontario is working to become a stronger thought leader and influencer, amplifying the voice of our profession for the good of our economy and society.
In the year ahead
CPA Ontario will seek out new forums and relationships in order to share the perspectives of Ontario’s accounting and business experts more widely. Our members have named increased thought leadership and advocacy as priorities for their professional body. To this end, we are connecting with leaders, building and promoting the CPA Ontario brand, and making thoughtful contributions to the conversations that matter most.
Thanks to Committee Volunteers. The generous efforts of CPA Ontario’s many volunteers benefit all members, CPA students, the profession and the public. We extend our sincere thanks to the many committee volunteers who gave of their time and expertise during the 2014-2015 year, including members of the following committees:
STANDING COMMITTEES OF COUNCIL
Cathy Russell, CPA, CA (Chair)
Johanne Charbonneau, FCPA, FCGA (Chair)
Governance and Nominating Committee
Alan Mak, CPA, CA (Chair)
Integration Resources Committee
John Hsu, FCPA, FCMA (Chair)
Management Advisory Committee
Michael Banks, FCPA, FCA (Chair)
Board of Evaluators
Practice Inspection Committee
Professional Conduct Committee
Public Accounting Licensing Board
Small Practices Advisory Committee
Young CPA Advisory Committee
CPA Ontario Council and President & CEO
Back row, left to right: Michel Lavigne, FCPA, FCA, John Hsu, FCPA, FCMA, Nigel White, FCPA, FCMA, Dave Vert, CPA, CA, Ronald Harvey, FCPA, FCGA, Tim Kennish (Public Representative), Edward Carter, FCPA, FCGA. Front row, left to right Georgina Daniels, FCPA, FCA, Delna Madon, CPA, CA, Stephen McCaughey, CPA, CMA, Ginny Dybenko (Public Representative), Johanne Charbonneau, FCPA, FCGA (Treasurer), Michael Banks, FCPA, FCA (Chair), Susan Moellers, FCPA, FCMA (Vice-Chair), Carol Wilding, FCPA, FCA (President & CEO), Alan Mak, CPA, CA (Secretary), Debra Taylor, FCPA, FCGA, Anita Ferrari, FCPA, FCA, Cathy Russell, CPA, CA. Not present: Public Representatives: Graham Parsons, Robert Wong.
Financial Statements and MD&A
Fiscal 2015 marks CPA Ontario’s first unified fiscal year. The financial statements reflect the unified operations of CGA Ontario, CMA Ontario and CPA Ontario for the nine months from July 2, 2014—the effective date of a fully unified CPA Ontario—to March 31, 2015, the end of the fiscal year. We have risen to the challenge of integrating three distinct organizations and have begun to realize the benefits of unification for our members and stakeholders. From an operational perspective, our progress over the past year has been impressive.
Member and Student Information
Ontario’s almost 84,000* Chartered Professional Accountants bring a diverse and rich array of backgrounds and skills to the profession. They can be found in a wide range of leadership positions in business, finance, public accounting, government, not-for-profits and academe. Chartered Professional Accountants are valued by organizations of all types and sizes for their financial expertise, strategic thinking, business insight, management skills and leadership.
The CPA profession continues to grow – we have almost 22,000* students now pursuing the CPA designation. We’re proud of the high quality of students attracted to the profession, and look forward to them joining our membership to become Canada’s business and finance leaders.
Access to the Profession
As a self-regulatory professional body in which internationally trained accountants seek to become members, CPA Ontario is committed to ensuring that it has requirements for admission to membership, and policies and procedures related to qualification by internationally trained accountants, that are fair, transparent and publicly accountable. The objective is to ensure that the provisions and processes for access to qualification as a CPA in Ontario are seen as models of best practices as well as meet or exceed the specific requirements established by Ontario’s Fair Access to Regulated Profession and Compulsory Trades Act, 2006. This also requires that CPA Ontario is prepared for and fulfills the reporting, disclosure and other accountability requirements of the legislation or as established by the Fairness Commission.
* As of March 31, 2015
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© 2015 Chartered Professional Accountants of Ontario