On December 6, 2017, the Council of CPA Ontario approved amendments to the Member's Handbook (bylaws, regulations and policies). Key changes are listed below. For a complete list of all changes please refer to the Member’s Handbook.
Beginning of Main Content
Amendments to Member's Handbook
Regulation and Policy Changes
Mutual Recognition Agreements
In order to give proper effect to CPA Ontario's newly signed Mutual Recognition Agreements (MRAs) with several international accounting bodies, amendments were made to Regulation 6-2: Applicant Registration. The significant amendments were as follows:
- Section 4.1 - brought the requirements for Mexico CPCs in line with that of U.S. CPAs and clarified the examination requirements therefor
- Section 4-2 - clarified that anyone seeking to gain membership in CPA Ontario through an MRA may not do so if they were admitted to the international body through an MRA or similar agreement unless CPA Ontario also has an agreement with that body
- Section 17 – the Registrar now has discretion regarding the professional development requirements for certain Applicants
- Section 22A – new section giving the Registrar the discretion to waive the practical experience requirements for U.S. CPAs or Mexico CPCs
Public Accounting Licensure
The Public Accountants Council for the Province of Ontario had previously prohibited the granting of a public accounting licence to those who had taken a CPA Preparatory Course (PREP). Starting January 1, 2018 this restriction has been lifted and the resulting amendments to section 2.10.4 of Regulation 9-1: Public Accounting Licensing have been made. Further, the Public Accounting Licensure Eligibility Criteria for the CPA Preparatory Courses policy (PAL Eligibility Policy) has been added to the Member’s Handbook for anyone who may have taken a PREP course prior to January 1, 2018.