Finding your firm’s fit

Finding your firm’s fit

Effective October 1, 2017, Professional Accounting Firms (PAF) will be registered with CPA Alberta in a new way. The Varied Registration Model will provide increased clarity for clients and prospective clients on the types of services that a PAF can perform.

This new model will move from PAF’s being registered on a “restrictions” basis—what services a firm is not able to provide, based on the education and experience of those in the firm—to an “approvals” basis—what areas of service a firm provides, again based on the education and experience of those in the firm. Firms will be registered in one or more of the following categories under the Varied Registration Model:

  • Audit
  • Review
  • Compilation
  • Other regulated services (including public accounting practice services)

As is currently the case, each of these categories has education, experience and examination requirements established that must be met in order to be eligible to supply the service. A PAF will be registered depending on the training, qualifications, and experience of the members of the PAF. This will ensure that appropriately trained and qualified individuals are able to provide the services they are qualified and competent to deliver.

Current PAFs registered with CPA Alberta will automatically be transitioned to the Varied Registration Model according to its previous categorization; no action is necessary by your firm to complete this change.

More information on this topic will be sent directly to firm representatives later this summer. You can also find more information on the CPA Alberta website and in the Summer 2017 issue of CPA Alberta’s Dividends magazine. In the meantime, if you have any questions about this change you can contact the CPA Alberta Registrations Department at paf@cpaalberta.ca.

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