Hi !
I am starting this thread for all those would be/landed immigrant Accountants/Auditors/Finance Managers to Canada.
Pls share all the relevent/practical info relating to immi & work relating to our profession.
My 1st post :
oronto City Councillors are making their concerns be known regarding a Bill that would fine people $10,000 who display post-nominal initials if they include any portion of the letters CA (chartered accountant), CMA (certified management accountant) or CGA (certified general accountant).
These are the three major accounting designations available in Canada.
Introduced by the Ontario government, Bill 158 which is in its third reading is expected to help ensure greater public transparency for the accounting profession while providing their governing bodies with new powers to better protect consumers.
However, a number of groups and individuals say the Bill will hurt immigrants who have received British training. Immigrants from the Caribbean are among those who will be affected by the passing of the Bill.
On Tuesday, a motion by City Councillor, Adam Vaughan and seconded by Mayor David Miller was voted 35-2 for the City Council to write to the Premier, the Attorney General and the Government of Ontario with respect to Bill 158, specifically to request that the proposed legislation be amended.
They are saying that “Any use of the initials ‘ACMC (UK)’ or ‘FCMA (UK)’ by an individual who is a member of the Chartered Institute of Management Accountants is deemed not to be a contravention of Section 26”.
Also, City Council is directing that the Chartered Institute of Management Accountants, the Toronto Region Immigrant Employment Council and the South Asian Legal Clinic of Ontario be advised of the position taken by City Council.
Bill 158 is in direct contradiction of the City of Toronto’s commitment to helping new immigrants integrate into the economy. Canada actively seeks skilled immigrants, but this type of action serves to keep those immigrants from making best use of their skills and experience, a statement from City Hall said. It also prevents them from wanting to migrate to Canada.
According to the City Council motion, under Bill 158, “a CIMA member in Ontario will be unable to use the designatory letters ACMA (UK) on any documents including business cards, email signatures or on letters to the newspaper or magazine articles. This restriction will place professionally qualified international accountants at a disadvantage when they immigrate to Canada and in particular to Toronto.”
Michael Bach, national director of diversity at the accounting firm KPMG, last week told a Queen’s Park committee that 300 people working at KPMG in Ontario have certifications from other accounting bodies. He added that the credentials are a key business advantage when serving clients with foreign operations or those who want expertise with international accounting standards being adopted by Canada. But their “invaluable” experience “will be severely diminished” if KPMG cannot tell clients about their training, he said.
According to a press release from the Attorney General’s office, the proposed legislation would clarify the authority of the three accounting bodies, the Institute of Chartered Accountants of Ontario, the Certified General Accountants Association of Ontario and the Society of Management Accountants of Ontario, to govern their members, while increasing accountability to the public for their work.
Some of the proposed measures in the Accounting Professions Act would make all three statutes public acts. At present Certified General Accountants (CGAs) and Certified Management Accountants (CMAs) have private acts; spell out the power of bodies to govern their members including, the power to admit members, ensure their competence through entry standards, inspect or investigate member practices, and discipline members who break the rules; ensure that information received by the regulatory bodies for carrying out their duties is kept confidential and increase the fine for improper use of the bodies' designations to a maximum of $10,000.
I am starting this thread for all those would be/landed immigrant Accountants/Auditors/Finance Managers to Canada.
Pls share all the relevent/practical info relating to immi & work relating to our profession.
My 1st post :
oronto City Councillors are making their concerns be known regarding a Bill that would fine people $10,000 who display post-nominal initials if they include any portion of the letters CA (chartered accountant), CMA (certified management accountant) or CGA (certified general accountant).
These are the three major accounting designations available in Canada.
Introduced by the Ontario government, Bill 158 which is in its third reading is expected to help ensure greater public transparency for the accounting profession while providing their governing bodies with new powers to better protect consumers.
However, a number of groups and individuals say the Bill will hurt immigrants who have received British training. Immigrants from the Caribbean are among those who will be affected by the passing of the Bill.
On Tuesday, a motion by City Councillor, Adam Vaughan and seconded by Mayor David Miller was voted 35-2 for the City Council to write to the Premier, the Attorney General and the Government of Ontario with respect to Bill 158, specifically to request that the proposed legislation be amended.
They are saying that “Any use of the initials ‘ACMC (UK)’ or ‘FCMA (UK)’ by an individual who is a member of the Chartered Institute of Management Accountants is deemed not to be a contravention of Section 26”.
Also, City Council is directing that the Chartered Institute of Management Accountants, the Toronto Region Immigrant Employment Council and the South Asian Legal Clinic of Ontario be advised of the position taken by City Council.
Bill 158 is in direct contradiction of the City of Toronto’s commitment to helping new immigrants integrate into the economy. Canada actively seeks skilled immigrants, but this type of action serves to keep those immigrants from making best use of their skills and experience, a statement from City Hall said. It also prevents them from wanting to migrate to Canada.
According to the City Council motion, under Bill 158, “a CIMA member in Ontario will be unable to use the designatory letters ACMA (UK) on any documents including business cards, email signatures or on letters to the newspaper or magazine articles. This restriction will place professionally qualified international accountants at a disadvantage when they immigrate to Canada and in particular to Toronto.”
Michael Bach, national director of diversity at the accounting firm KPMG, last week told a Queen’s Park committee that 300 people working at KPMG in Ontario have certifications from other accounting bodies. He added that the credentials are a key business advantage when serving clients with foreign operations or those who want expertise with international accounting standards being adopted by Canada. But their “invaluable” experience “will be severely diminished” if KPMG cannot tell clients about their training, he said.
According to a press release from the Attorney General’s office, the proposed legislation would clarify the authority of the three accounting bodies, the Institute of Chartered Accountants of Ontario, the Certified General Accountants Association of Ontario and the Society of Management Accountants of Ontario, to govern their members, while increasing accountability to the public for their work.
Some of the proposed measures in the Accounting Professions Act would make all three statutes public acts. At present Certified General Accountants (CGAs) and Certified Management Accountants (CMAs) have private acts; spell out the power of bodies to govern their members including, the power to admit members, ensure their competence through entry standards, inspect or investigate member practices, and discipline members who break the rules; ensure that information received by the regulatory bodies for carrying out their duties is kept confidential and increase the fine for improper use of the bodies' designations to a maximum of $10,000.
