Six circumstances CPAs are required to report to CPA Alberta

Six circumstances CPAs are required to report to CPA Alberta

Did you know certain matters pertaining to a registrant’s own conduct are required to be reported to the Chartered Professional Accountants of Alberta (CPA Alberta)?

A “registrant” is any Chartered Professional Accountant, candidate, professional accounting firm, professional corporation, professional service provider, or any other person registered in accordance with Part 3 of the Chartered Professional Accountants Act.

Conduct of a registrant that diminishes the good reputation of the profession or fails to serve the public is subject to scrutiny. Registrants are required, within 21 days, to report:

  1. Criminal convictions: any conviction of an indictable offence, as well as any offence of fraud, theft, forgery, money laundering, extortion, and counterfeiting. Other matters that must be reported are convictions for criminal organization activities, charging criminal interest rates, and financing terrorism and similar offences related to financial matters, including convictions of conspiring or attempting to commit such offences. Serious criminal offences that are not related to financial matters but which involve conduct that diminishes the reputation of the profession or repeat offences of any other criminal conviction must also be reported.
  2. Other breaches of provincial or federal legislation: offences involving a violation of any of the provisions of securities or tax legislation or entering into a settlement agreement with respect to such a matter are also reportable.
  3. Absolute or conditional discharge: if a registrant has received an absolute or conditional discharge after being found guilty or pleading guilty to any of the activity in (1) or (2) above, they must also report it to CPA Alberta.
  4. Disciplinary actions of other provincial CPA bodies: if a registrant has been found guilty by, or entered into a settlement agreement with, another provincial CPA body in relation to a disciplinary or similar process, or have resigned voluntarily from that body to resolve a disciplinary matter, it must be reported.
  5. Other regulatory bodies: similarly, if a registrant has been found guilty by, or entered into a settlement agreement with, another regulatory body in relation to a disciplinary or similar process, or have resigned voluntarily from that body to resolve a disciplinary matter, it must be reported.
  6. Bankruptcy or insolvency: under the CPA Rules of Professional Conduct, a registrant must also self-report if the registrant becomes insolvent, makes an assignment in bankruptcy, is declared bankrupt, or takes the benefit of any statutory provision for insolvent debtors (i.e. consumer proposal).

For a complete list of activities that are required to be reported, please see Section 102 and section 601 of the CPA Rules of Professional Conduct and Related Guidance.

If you need to self-report a matter, or need some assistance, please email conduct@cpaalberta.ca.

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