Bill 4, the Chartered Professional Accountants Act, passed through both Committee stage and Third Reading in the provincial legislature yesterday afternoon with unanimous support.

What this means is that the heavy lifting of the legislative process now has been completed; however, the CPA Act does not become a law until it receives Royal Assent and is signed by the Lieutenant Governor. As a law, it comes into effect at the time of proclamation which is determined by the Cabinet.

To that end our regulatory team will be developing the CPA Bylaws and Bylaw Regulations, and the Code of Professional Conduct. We estimate proclamation will occur sometime this summer, and we will ensure members are informed of next steps regarding mandatory use of the CPA designation, transition timelines for signage, stationary, etc., and logo use for both members and firms. New CPA certificates will be mailed once proclamation has occurred.

This is an exciting time, and over the coming months we will formally establish our new, unified regulatory body, the Chartered Professional Accountants of BC.

Best regards,

Richard Rees, CPA, FCA
President & CEO, CPABC