Will the CPA Breakup Devalue the Designation in Canada?

On June 20th, 2023, CPA Ontario members received a surprising email from the provincial body stating that the provincial CPA body of Ontario has elected to change its existing relationship with the national body (CPA Canada). CPA Quebec members received a similar email at the same time. The email itself and potential implications are discussed in the earlier blog post: CPA Breakup – Ontario and Quebec Leave CPA Canada.

Impact on the Value of the CPA Designation

While very little new information has come to light since the announcement in June 2023, one thing we know with certainty is that the provincial bodies leaving CPA Canada will gain flexibility in terms of how they deal with the designation. Therefore, the impact on the value of the designation in the relevant provinces can be positive or negative, depending on how the provincial bodies play their cards.

The Good:

• When the CPA Competency Map 2.0 was announced, there was a lot of backlash from existing CPA members as well as prospective students due to the change in curriculum, moving away from a focus on technical competencies to “softer skills” with emphasis on ESG topics instead. Provincial bodies can avoid these changes if they deem them to not be the best for the CPA designation in their province, thereby increasing the designation’s value comparatively.

• The provincial bodies will be able to adjust the skills, expertise, and experience, expected and gained by CPA charterholders in their province, thereby strengthening the value provided by CPAs in the province in which they practice, making the designation more valuable.

• Provincial bodies breaking away from the national body will not have to double dip on administrative costs and associated fees to members, allowing CPA holders in these provinces to save on annual dues, thereby increasing the appeal of maintaining the designation.

The Bad:

• Breaking off from the unified national body can lead to an inconsistent CPA membership experience for CPAs across the country.

• Differing requirements, skills, or experience, between the provincial bodies, can make relocation across different provinces more difficult for CPAs in Canada if their credentials are seen as different or otherwise not fully recognized.

• Provincial bodies may take a narrow view on the CPA designation and not prepare/support members from a broader, holistic viewpoint.

In Summary

At this point in time, one can only speculate as to the reasoning for CPA Ontario and Quebec’s decisions to separate from CPA Canada. One thing that holds true however is that regardless what they upcoming changes may hold, the CPA will continue to be the top-tier accounting designation in each province in the country, therefore, candidates and members can rest assured they are strongly positioned for a successful career by obtaining and maintaining the designation going forward.

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