Fees have been determined on a cost-recovery basis. The higher the level of assurance services, the greater time is taken on practice inspections, and the costs to CPABC are accordingly higher. In the Other Regulated Services – Non-Reviewable category, the fee does not include an allocation of practice inspection costs.
The CPA Public Practice Fee comprises two elements:
A public practice fee for each licensed member. The amount of this fee is a function of the category of public practice licence held by the member. Licensed members include both firm owners and those employees who are authorized to sign off on engagements on behalf of the firm.
A firm component which is a member levy based on the number of designated CPA members in the firm, both owners and employees. This member levy component represents an allocation of the costs associated with support provided to members in public practice by the Member Services team.
Member Services provides the following:
- Professional staff who can answer questions on ethics, bylaws, and the Code of Professional Conduct;
- Provide informal guidance on CPA Canada Handbook and other technical matters (please note Advisory Services staff will not give GAAP or GAAS opinions, or prescribe the application of standards);
- Produce monthly updates on standards and practice matters in the Public Practice News & Views column in eNews;
- Support six public practice forums, which provide an opportunity for sole practitioners, owners of small and medium size public practice firms to exchange information, share best practices, and strengthen professional alliances;
- Arrange periodic liaison meetings between practitioners and CRA senior staff in various locations around the province;
- Support the Government Organizations’ Accounting & Auditing Forum, which provides an opportunity for liaison between public practitioners and other members in various public sector organizations on accounting, auditing, financial reporting, performance management, and related issues affecting those organizations;
- Support the Professional Standards Advisory Committee which participates in the profession’s standard-setting process by reviewing and critiquing white papers, discussion papers, and exposure drafts circulated by the Accounting Standards Board (AcSB), Auditing and Assurance Standards Board (AASB), International Ethics Standards Board of Accountants (IESBA), and government authorities. Participation in the Advisory Committee offers members the opportunity to provide input on current accounting, assurance, and professional ethics projects before they are formalized as standards.
- Discuss setting up, winding down, succession planning, or buying and selling a practice;
- Provide information about professional liability insurance; and
- Provide information about confidential counseling services.