Magazine article The CPA Journal

CGA-Canada Recommends Move to International Accounting Standards

Magazine article The CPA Journal

CGA-Canada Recommends Move to International Accounting Standards

Article excerpt

The Certified General Accountants Society of Canada (CGA-Canada) issues the certified general accountant credential to those completing a specified course of study and a two-year work experience program. Certified general accountants are permitted to do audits in some of the Canadian provinces, following auditing standards as set forth in the Canadian Institute of Chartered Accountants Handbook. The credential demonstrates a certain level of accounting expertise and requires adherence to a code of professional conduct. Those pursuing the CGA credential are very frequently doing so through distance learning. The Society says that it has 60,500 CGAs and students as members. There are other CGA associations in Bermuda, the Caribbean, Hong Kong, and China.

CGA-Canada recently issued a white paper, "The Case for International Accounting Standards in Canada," in which it recommends that Canada cease developing its own accounting standards in favor of adopting those established by the International Accounting Standards Committee (JASC). The first step would be to create an independent Canadian standards setter in the pattern of the United Kingdom and others, which would include representatives from the various constituencies involved in the financial reporting process. …

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