Ordre des comptables agréés du Québec

Ordre des comptables agréés du Québec

December 12, 2007 14:10 ET

Quebec's Chartered Accountants Comment on Competition Bureau Report Findings

MONTREAL, QUEBEC--(Marketwire - Dec. 12, 2007) - Quebec's Chartered Accountants concur with the Competition Bureau's desire for consistent regulations that foster mobility for public accounting professionals. Yet care must be taken to ensure that the quality of audit services is not weakened by the implementation of recommendations in the Bureau's report.

"The Competition Bureau studied the impact that current regulations may have on competition within several Canadian professions, including the accounting profession. We are pleased to see that it recognizes the CA profession's efforts to implement practices that support competition," said Jean-Pierre Allaire, FCA, Chair of the Ordre des comptables agrees du Quebec.

In its report, the Bureau points out that some accountants in Canada are not authorized to offer certain services, unlike other accounting professionals. It therefore recommends that all accountants with the required qualifications be allowed to offer the same services to the public. "With the practice of public accounting in Quebec soon to be open to all qualified accounting professionals, we are responding directly to one of the Bureau's recommendations. Of course, the rules to be established to supervise the delivery of these services will have to be similar to those already in force for CAs. The protection of the public and healthy competition demand it," stated Daniel McMahon, FCA, President and CEO of the Ordre.

"The implementation of high-quality standards of qualification in auditing and assurance is critical to the success of Quebec's economy and its reputation as a good place to do business," noted Mr. McMahon. "Such standards are also vital to maintain existing mutual recognition agreements that foster the mobility of accounting professionals within Canada and internationally. The Ordre des comptables agrees du Quebec will be pleased to contribute its expertise to any future discussions aimed at achieving more consistent, high-quality audit and assurance services."

With a membership of close to 17,400 CAs and 1,500 candidates for the practice of the profession, the Ordre des comptables agrees du Quebec carries out its primary mission to protect the public by enforcing the most demanding admission criteria and ethical standards.

Contact Information

  • Ordre des comptables agrees du Quebec
    Cedrick Beauregard
    External relations manager
    514-982-4615 or 1-800-363-4688, ext. 4615
    c.beauregard@ocaq.qc.ca