Reflections
Letter from the President and CEO
Leading the Way
"It's time to set the record straight. CGA is at the forefront."
FROM:
NOV-DEC 2004 ISSUE
During the recent CA and CMA merger discussions in Canada, there's been a great deal of misinformation circulating about the CGA designation, much of it coming from individuals or officials from one or other of those two accounting bodies, either at the national or at the provincial level.
And given the importance of these merger talks to the future of the accounting profession in Canada, it's critical at this time to set the public record straight. Let's start at the heart of the matter, with the CGA Program of Professional Studies. It's been widely suggested by some in the CA and CMA ranks that the CGA professional program is of lesser quality, not worthy of being considered a true force in the accounting professional marketplace. Nothing could be further from the truth.
Here are the facts:
- Our education standard matches or exceeds the other professional accounting bodies;
- All new members admitted as CGAs require a university degree and approximately 150 credit hours of university education. In fact, the majority of new CGAs have academic standing well above that;
- The CGA program remains the most rigorous program of accounting studies in Canada. Unlike the other two professional programs, there is no advanced standing granted for mature students entering the program;
- Professionalism, ethics, and integrity are our guiding principles. Our professional standards are based on International Federation of Accountants (IFAC) standards; and
- CGAs provide leadership and strategic counsel to Canadian businesses, large and small.
Another key element in today's accounting professional merger discussions has been the big question "why now?" What has occurred in our professional marketplace at this point in time to make these mergers so pressing for CA and CMA? And perhaps most important of all, what role does the powerful presence of CGA as a key player in the profession play in this equation?
To answer that question we simply have to take a close look at the numbers. Today, CGA is the fastest growing accounting designation in Canada. In 2003, CGA graduated
37 per cent of all new accountants in this country compared to
30 per cent for CMA and 33 per cent for CA. As of 2003, our membership stood at
26 per cent of the total accounting professional marketplace, up from
23 per cent in 1998. During that same period the CMA numbers held steady at
25 per cent and the CA numbers dropped three percentage points to
49 per cent.
So this lack of growth for CA and CMA is indeed at the heart of their dilemma, and is, I believe, one of the major drivers behind today's merger talks. As we have said so often of late, people want to work with CGAs, they want to hire CGAs, and they want to be CGAs.
Our leadership position is unquestionably strong. Our comprehensive education program, its flexible and innovative delivery process, and the strength, skill, and leadership of Canada's CGAs speaks volumes. In the final analysis, it is time to set the record straight. CGA is, and will always be, at the forefront!
[
TOP ]