The Certified General Accountants Association of Ontario says it welcomes recommendations from the Ontario Government’s Red Tape Commission, which call for new rules to foster greater competition and higher standards in the field of public accounting.

CGA Ontario says that, if implemented, Ontario’s recommendations would put an end to the 40-year monopoly held by chartered accountants in this area. The recommendations include a level playing field for the three professional accounting designations, a common licensing exam and a reformed regulatory body to protect the interests of consumers and third parties who rely on accountants’ representations.

Gord Fuller, CGA Ontario’s executive director, said, “These historic recommendations are great news for consumers. If the recommendations are acted upon, consumers will be able to choose from a wider range of qualified accountants. This means more competition and lower costs — within a framework of rules that guarantees excellence.”

Fuller said that Ontario’s certified general accountants look forward to working with the government to implement the recommendations. CGA Ontario thanks the members of the commission and those who took the time to make submissions in favour of reform.

“Their participation provided important insights into the way the old system unfairly restricts competition. These insights were essential to impressing the need for competition and fairness — while maintaining or improving standards of service.”