The 148-page Report of the Committee to Study
Specialization in the Canadian Chartered Accountancy Profession was issued in December 1981. The
Chairman’s Letter by W.D. Grace, FCA, states that: “The issue of specialization
within the profession is not easily resolved. The Committee believes that the
recommendations for a voluntary structured plan of specialization would prove
to be of significant long term benefit to the Canadian public and to all
members of the chartered accountancy profession. The Committee has addressed
the issue of specialization through a lengthy process of research, discussion,
and debate and by consideration of the present de facto situation and the
specialty experiences of other accounting bodies and other professions.” The
Committee recommended that four specific areas of practice be initially
recognized as specialties: taxation, insolvency, business valuation and
computer audit.
According to the booklet called Another Great Leap - CA•Designated Specialists, Chartered Accountants
in Canada now have access to six profession-endorsed specialist designations, some
offered directly by the Canadian Institute of Chartered Accountants (CICA) and
others through organizations that have been accredited by the CICA. Currently,
more than 1,000 have earned the advantage of a CA specialist designation.
Regardless of the route to the specialist designation, candidates for
specialist certification need to demonstrate experience in the field, in
addition to completing an evaluation process. As well, specialists must comply
with continuing experience and professional development standards to maintain
the designation.
For
more information, read the CAmagazine
article, “Breaking
new ground” (published in December 1997, page 2). This article discusses the first specialist designation for investigative and forensic accounting. Also, refer to the CICA
website section on CA Specialization and the Institute of Chartered
Accountants of Alberta (ICAA) website section on Specialty Designations.
Sunday, November 18, 2012
Report on Specialization in the Canadian Chartered Accountancy Profession – December 1981
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