Professional accountants in Nova Scotia (N.S.) will soon have the authority to use the new designation of chartered professional accountants (CPA).
Legislation introduced Wednesday is the first of two steps that will establish certified general accountants, certified management accountants and chartered accountants as chartered professional accountants in Nova Scotia. This is part of a national effort to merge the three bodies.
Chartered Professional Accountants of Nova Scotia (CPANS) will be established and begin operations as the governing body. A board of directors will also be appointed.
Professional accountants in the province agree this is a significant milestone for their profession.
“This legislation will benefit more than 4,400 members of the Nova Scotia professional accounting bodies, and it begins to pave the way for Nova Scotia students and candidates to obtain this highly respected business and accounting designation,” said Douglas Reid, chair of the Institute of Chartered Accountants of Nova Scotia.
Further legislation will be introduced at a later date to formally merge the three accounting bodies and update the regulatory framework.