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Disclosure Requirements

Find answers to commonly asked questions about when you are required to disclose that you are a Licensed Public Accountant

Required Disclosure

Licensees and firms must disclose that they hold a public accounting licence, or that the professional corporation is authorized to practise public accounting. This must be done — using prescribed wording — when providing any accounting or assurance services to do with a financial statement, or any part of a financial statement or any statement attached to a financial statement. The requirement does not extend to other communications with or on behalf of a client or to a potential client.

As Required by Section 14 of Regulation 9-1 and Standard 18 of the Public Accountants Council ("PAC"):

  • A firm, other than a professional corporation, must use the term "Licensed Public Accountant(s)" or the initials "LPA", following the designation used by the firm;
  • A professional corporation that holds a certificate of authorization to practise public accounting must use the exact phrase "Authorized to practise public accounting by the Chartered Professional Accountants of Ontario"; and
  • A member, excluding a sole proprietor, who is licensed as a public accountant must, if signing under their own name use the term "Licensed Public Accountant" or the initials "LPA", following the licensee's legal name and designations.

These disclosures must be used on any statement or report that is issued, or the work for the engagement is primarily performed in Ontario.

Please be reminded that in accordance with section 15 of Regulation 9-1, only the lead engagement person responsible for signing a statement or report for a public accounting engagement must hold a public accounting licence. Other members of the engagement team, including the engagement quality control reviewer or other experts may be, but are not required to be, licensed.

Examples

The aforementioned disclosure requirements must appear in the statement, opinion or report, in one of the exact forms set out below, in either English or French. In each of the following examples, the firm name is emboldened.


Firm Registered as a Public Accounting Practice

A firm registered as a public accounting practice must use the term "Licensed Public Accountants" when it is the firm’s name that is being used to sign the statement, opinion or report. For example:

Doe and Doe, Chartered Accountants*, Licensed Public Accountants
Doe et Doe, comptables agréés*
, experts-comptables autorisés

*Please note the deadline for firms that use a CA, CMA or CGA designation in their name to make the change to CPA is January 1, 2018.


Professional Corporation Authorized to Practise Public Accounting

A professional corporation that has been issued a certificate of authorization to practise public accounting may use the phrase "Authorized to practise public accounting by the Chartered Professional Accountants of Ontario". For example:

John Doe, CPA, Professional Corporation, Authorized to practise public accounting by the Chartered Professional Accountants of Ontario
John Doe, CPA, Société professionnelle
, autorisée à exercer l'expertise comptable par les comptables professionnels agréés de l'Ontario

*Please note the deadline for Professional Corporations that use a CA, CMA or CGA designation in their name to make the change to CPA is January 1, 2018.


Licensed Member

A member, or a member who has been elected a Fellow who is signing the written statement, opinion, or report, must if signing under his or her own name, use the term “Licensed Public Accountant” following the Associate or Fellow member’s name and designations. For example:

Member Name, CPA, CA, Licensed Public Accountant
Member Name, CPA, CMA
, Licensed Public Accountant
Member Name, CPA, CGA
, Licensed Public Accountant

Member Name, CPA, CA, expert-comptable autorisé(e)
Member Name, CPA, CMA
, expert-comptable autorisé(e)
Member Name, CPA, CGA
, expert-comptable autorisé(e)

Frequently Asked Questions

Find answers to common questions about disclosure requirements.

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