Dear Members and Students,
As the year 2020 comes to an end, we reflect on the challenges and tribulations faced by everyone and remember the specific sacrifice made by small businesses around the country. However, we must also reflect on the positive aspects of the year. Seeing communities come together and ordinary citizens rise up to become everyday heroes while dealing with an unprecedented time in history has been truly remarkable. Thinking positively and optimistically, I truly believe that the worst will be behind us and we will be stronger and more prosperous as we move forward.
The holidays are the perfect time to reflect on the success of the past year, while also looking forward to fresh opportunities in the New Year.
Despite the difficult year, it has been with the pandemic, we have had the pleasure of assisting many in their education and training through our virtual webinars and meetings as part of our strong and comprehensive continued professional development (CPD) program.
The board of directors and the education committee also took the opportunity to revisit our pre-requisite courses and mandatory professional exams that were successfully finalized and implemented as part of our “Education Program 2020”.
The pandemic has also allowed us to revisit, revise and reform our policies and future plans. The most important area that needed urgent attention was to establish a comprehensive policy for RPAs who are in professional practice to educate, train and establish the examination and accreditation standards. RPA practitioners must prepare for these new standards and changing technologies.
On December 17, 2020, the Board approved adoption of the new standards for Compilation Engagements (CSRS 4200) that is going to be effective December 14, 2021. On the recommendation of the committee, the Board of Directors have declared that all practicing RPAs must complete mandatory training and accreditation in order to be able to prepare and issue compilation engagement reports. This is a mandatory training program which must be completed by the 2021 Annual General Meeting (to be held in October 2021). The Professional Practice Pathway, training and accreditation policy will be communicated to all RPA members by Harry Somir, chair of the Professional Practice Committee before the end of December.
As part of our outreach, RPA Canada is in communication with the Forensic CPA Society based in the United States, to formalize mutual recognition of both designations. The Forensic CPA Society will recognize the RPA designation and through five specialized courses in Forensic Accounting, will qualify to obtain the “Forensic CPA” designation what will be recognized by RPA Canada as Forensic specialist. Stay tuned for more information in this area in coming year.
I look forward to continuing on our mission to connect, communicate and improve the RPA accounting designation and better service the members and the public at large. Together, we will build a stronger and brighter accounting designation in Canada and around the world. With your help and support, I will make sure that we are better, brighter, effective, impressive, healthy and safe.
From the Board of Directors of the Society, staff and myself – Merry Christmas and Happy Holidays!
Zubair Choudhry, RPA, APA