What does the potential CA/CMA merger mean to students?

On May 24, 2011, the leaders of the Chartered Accountants of Canada and the Certified Management Accountants of Canada announced they had entered into discussions to explore the possibility of uniting the CA and CMA organizations through the creation of a new professional designation –  the Chartered Professional Accountant (CPA). Following this announcement, a consultation process was established to engage important stakeholders in a dialogue including Members and Candidates of the respective organizations.

Since the announcement, I have been approached by a few students who have wanted to learn more about why this is occurring and, probably just as important, what the impact may be. I suspect that once classes begin in the fall, more students will be asking similar questions.

To begin with, I strongly encourage students to review the information that has been provided to Members and Candidates of both organizations. To assist you, here are some helpful links (also available through cpacanada.ca):

Uniting the Canadian Accounting Profession Position Paper

Uniting the Canadian Accounting Profession Paper Highlights – a “coles notes” summary of the key points in the full position paper

Consultation Update – June 2011

Video: Joy Thomas, President and CEO, CMA Canada, talks about uniting the Canadian accounting profession

For a student considering the CMA designation these resources provide an important window into the global factors impacting the accounting profession here in Canada and why the respective organizations are addressing them now. As you review the information, reflect on what is being discussed and understand the impact on you. For students, this potential merger represents the prospect of a further strengthened and respected accounting credential in Canada and improved mobility opportunities globally. Over the long-term this would also serve to reduce confusion over multiple designations and increase recognition of the value you can provide to any organization as a professional accountant. These points aside, consider the full impact and be sure to ask questions.

Finally, you have an important voice in this consultation process as well. Should you have any comments or questions to share, please email them directly to me – sroehl @ cma-canada.org. I will ensure your privacy and pass along the comments verbatim for consideration.