Institute Of Chartered Accountants Of Ontario

Institute Of Chartered Accountants Of Ontario

June 08, 2006 11:00 ET

CA Institute Welcomes Government Action on Internationally Trained Professionals

TORONTO, ONTARIO--(CCNMatthews - June 8, 2006) -

Attention: Assignment and news editors

New legislation would provide better access while keeping standards high

The Provincial Government's response to the Thomson Report's recommendations on providing access to the professions for the internationally trained strikes the right balance between fairness to immigrants and keeping professional standards high, according to the Institute of Chartered Accountants of Ontario.

The steps outlined in Ontario's Fair Access to Regulated Professions Act, 2006, are based on recommendations found in Review of Appeals Processes from Registration Decisions in Ontario's Regulated Professions, a report by National Judicial Institute Executive Director George Thomson that was unveiled in November 2005. They include:

- Establishing a code to regulate fair registration processes, with a Fair Registration Practices Commissioner appointed to oversee the implementation and adherence to the code.

- A Minister's Roundtable on Fair Access to Regulated Professions.

- An Access Centre for Internationally Trained Individuals.

"We support helping internationally trained professionals use their skills in Ontario. Our province depends on developing a workforce that reflects the world in which we do business," said Institute President and CEO Brian Hunt, FCA. "We are especially pleased at the careful balance the government has struck between helping newcomers while maintaining the high level of professional standards required to protect Ontarians."

Hunt notes that, in the case of the CA profession, the access process for internationally trained professionals is already at best practice levels. In January 2005, a 'report card' issued by the Ministry of Training, Colleges and Universities ranked the Institute second among 10 professional bodies evaluated, in terms of their response to barriers identified by internationally trained professionals.

The Institute's approach is to provide a fair and transparent career path that provides detailed, step-by-step information on the assessment process, the experience and examination requirements, the costs involved, and a summary of labour market conditions for Chartered Accountants.

Other highlights of the Institute's record include:

- Participation in the International Qualifications Appraisal Board, which assesses the qualification standards of accounting bodies in other countries against Canadian CA standards to provide access to qualified applicants

- A transparent registration and appeals processes that includes full participation by public representatives (persons who are not accountants) as voting members

- Working with accounting bodies in other countries - including many in Latin America, Southeast Asia and the Pacific Rim - to help them achieve standards equal to those in Canada.

"We all want new Canadians to succeed and we can't afford to waste talent," Hunt concluded. "Let's build on our progress with a realistic system of best practices that identifies achievable goals, while maintaining the level of high, internationally recognized professional standards that have traditionally served Ontario so well."

About the Institute of Chartered Accountants of Ontario:

The Institute of Chartered Accountants of Ontario is the qualifying and regulatory body of Ontario's 32,000 CAs and 4,000 CA students. Since 1879, the Institute has protected the public interest through the CA profession's high standards of qualification and the enforcement of its rules of professional conduct. The Institute website is: www.icao.on.ca and the student website is www.ca2b.biz.

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