Professional Corporation Terms and Regulatory Information
Note: Please be advised that Chartered Professional Accountants of Ontario cannot provide legal advice, interpret the law or conduct research. The information provided below is intended as a general guide only.
A "professional corporation" means a corporation incorporated under the Ontario Business Corporations Act, which has as its only shareholder(s) a member or members, a CPA professional corporation or professional corporations.
A "registration certificate" means a certificate issued under the act, By-law, or regulations to a professional corporation permitting the professional corporation to engage in providing accounting services to the public.
A "certificate of authorization" means a certificate issued to a professional corporation pursuant to the Public Accounting Act, 2004 to permit the professional corporation to engage in the practice of public accounting.
To obtain a certificate of authorization, at least one shareholder of the professional corporation must hold a current public accounting
A professional corporation may not offer or engage in the practice of public accounting or providing accounting services to the public unless it is registered in accordance with the regulations and such registration is in good standing.
You must notify CPA Ontario of any significant changes in practice, composition or structure prior to or within 30 days of such change being effected. A significant change includes but is not limited to any change in firm name, shareholder, director, officer, articles of incorporation, or dissolution.
A professional corporation must have a physical office location and all office locations providing services or carrying on business in Ontario must be registered.
The name of the professional corporation must include the words "professional corporation" or "Société Professionnelle."
Important Notes on Submitting Applications to CPA Ontario
Incomplete applications will result in a delay in processing your request and may result in your request being denied or closed.
Applications are usually processed within four to six weeks of the date of receipt of the completed application. Processing time increases during periods of high volume.
For more information, please contact the Registrar’s Office at 1 800 387.0735 x4324.