Facing departures from Ontario and Quebec, CPA Canada adjusts its staffing
Chartered Professional Accountants of Canada (CPA Canada) is reducing its workforce by 20 percent in anticipation of the Ontario and Quebec provincial oversight bodies' decision to separate from the national organization.
Prior to these cuts, CPA Canada employed about 400 people nationwide.
In June of the previous year, CPA Ontario and the Quebec CPA Order declared their intent to withdraw from their agreement with CPA Canada, initiating an 18-month period leading to their formal separation.
Pamela Steer, president, and CEO of CPA Canada, stated that the pending exits of Ontario and Quebec prompted a review, culminating in the decision to downsize to “position CPA Canada for long-term sustainability.”
This was revealed in a memo to staff last week, which The Canadian Press obtained. Despite extensive discussions and efforts, it has become evident that Ontario and Quebec will proceed with their departure from CPA Canada by December, Steer noted.
She mentioned that the departures present a challenging operating environment for CPA Canada, necessitating organizational changes to ensure its future success in serving its members and the accounting profession.
Before these announcements, CPA Canada was engaged in a governance review for over five years. However, the Quebec CPA Order and CPA Ontario had unresolved issues with the national organization regarding key governance matters.
Carol Wilding, president, and CEO of CPA Ontario, highlighted in an interview last fall that these were not minor disagreements but fundamental differences on crucial issues.
Among the concerns raised by both organizations were issues related to CPA Canada's financial transparency concerning education programs—a claim contested by the national body. CPA Canada also mentioned that the provincial bodies sought more significant representation on its national board.
Established in 2013, CPA Canada aimed to unify the country's professional accounting organizations and designations, setting standards, and coordinating education and exams. Meanwhile, the regional bodies manage regulation and enforcement.
Despite their separation, CPA Canada expressed concern that this decision could jeopardize the accounting profession's unity. However, neither CPA Ontario nor the Quebec CPA Order has experienced job reductions due to their decision to split.
Both affirmed their commitment to collaborating with CPA Canada and provincial counterparts on education and standard-setting and ensuring these areas are financially supported.
