Bill 23 — First Session, 25Th Legislature, 50 Elizabeth Ii the Legislative Assembly of Alberta Bill 23 Regulated Accounting Profession Amendment Act, 2001 (Legislature 25, Session 1)

L25 S1 122

Alberta — Bills

2001 BILL 23 First Session, 25th Legislature, 50 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 23 REGULATED ACCOUNTING PROFESSION AMENDMENT ACT, 2001 MR. LORD First Reading Second Reading Commi ttee of the Whole Third Reading Royal Assent Title: 2001 (25th, 1st) Bill 23, Regulated Accounting Profession Amendment Act, 2001

Bill 23 Mr. Lord BILL 23 2001 REGULATED ACCOUNTING PROFESSION AMENDMENT ACT, 2001 (Assented to , 2001) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: Amends SA 1999 cR-12.31 The Regulated Accounting Profession Act is amended by this Act. 2

Section 1 is amended (

a) in clause (

z) by striking out “Executive Director of the Society” and substituting “President and Chief Executive Officer of the Society”; (

b) in clause (cc) by striking out “Council of the Society of Management Accountants of Alberta” and substituting “Board of Directors of the Society of Management Accountants of Alberta”; (

c) in clause (ii) (

i) by adding “of the practice areas specified in the by-laws” after “means a review”; (ii) by striking out “that practises in any area specified by regulation”. 3

Section 14(1)(

a) is amended by adding “applicants for registration and” after “information about”. 1

Explanatory Notes 1 Amends

chapter R-12.3 of the Statutes of Alberta, 1999. 2

Section 1(z), (cc) and (ii) presently read: 1 In this Act, (z) “executive head” means the Executive Director of the Institute of Chartered Accountants of Alberta, the Executive Director of the Certified General Accountants’ Association of Alberta or the Executive Director of the Society of Management Accountants of Alberta, as the case may be; (cc) “governing body” means the Council of the Institute of Chartered Accountants of Alberta, the Council of the Society of Management Accountants of Alberta and the Board of Governors of the Certified General Accountants’ Association of Alberta, or any of them, as the case may be; (ii) “practice review" means a review of the practice of a public accounting firm or a professional service provider that practises in any area specified by regulation; 3

Section 14(1)(

a) presently reads in part: 14(1) A governing body may make regulations 1 Explanatory Notes

Section 15(1) is amended (

a) by repealing clause (

m) and substituting the following: (

m) establishing practice standards for the areas of practice referred to in sections 48 and 49 and the regulations; (

b) in clauses (

z) and (aa) by striking out “speciality” and substituting “specialty”. 5

Section 28(1)(

a) is amended by striking out “speciality” and substituting “specialty”. 6

Section 33(4)(

c) is amended by striking out “on a registration,” and substituting “on an approval to register the applicant,”. 7

Section 34 is amended by adding the following after subsection (3):

(4) An accounting organization must maintain complete applications for registration for the time period prescribed by the regulations. 2

(

a) specifying the period of time during which an accounting organization must maintain information about its registrants and former registrants; 4

Section 15(1) presently reads in part: 15(1) A governing body may make by-laws (

m) specifying areas of professional services for the purposes of sections 48 and 49 and establishing practice standards for those areas of professional services, including incorporation by reference of international or national practice standards; (

z) designating the specialty names, initials or abbreviations that may be used by registrants who have met the requirements for a speciality pursuant to clause (y); (aa) prohibiting a registrant from holding out that the registrant is entitled to engage in a speciality unless the registrant has met the requirements for the specialty pursuant to clause (y). 5

Section 28(1)(

a) presently reads: 28(1) On written request to do so, an accounting organization must provide, within a reasonable time, any of the following information that it has in its possession: (

a) the registration status, practice speciality recognized by the accounting organization and business address of a registrant or former registrant; 6

Section 33(4)(

c) presently reads:

(4) On making a decision under subsection (1), the registrar or the registration committee must (

c) in the case of a decision to impose conditions on a registration, to defer a registration or to refuse an application, give reasons for the decision and notify the applicant of how the applicant may appeal under

section 34. 7

Section 34 presently reads: 34(1) An applicant whose application for registration is accepted subject to conditions, whose registration is deferred or whose application is refused by the registrar or the registration committee may, within 30 days of being given a copy of the decision, appeal to an appeal tribunal in accordance with

Part 6. 2 Explanatory Notes

Section 46(3) is amended by adding “only the” after “provides”. 9

Section 48(1)(

a) is amended by striking out “by-laws” and substituting “regulations”. 10

Section 96(2)(b)(

v) is repealed and the following is substituted: (

v) a person who employs the investigated party to provide professional services as a paid or unpaid employee, consultant, contractor or volunteer; 11

Schedule 2 is amended by repealing

section 3 and substituting the following: 3

(2) An applicant who is not notified of a decision within the time period prescribed in

section 32(2) may, within 30 days from the expiry of that time period, appeal to an appeal tribunal in accordance with

Part 6.

(3) The appellant and the registrar or the registration committee are the parties to an appeal under this section. 8

Section 46(3) presently reads:

(3) Notwithstanding subsection (1)(c), a member of an accounting organization, a professional corporation or a partnership that provides services referred to in

section 1(oo)(iv) or (vi) (

a) is not required to register as a public accounting firm if the gross revenue of the member, professional corporation or partnership from those services is less than the amount specified in the regulations; (

b) may apply, in accordance with the regulations, to the governing body of the accounting organization for an exemption from registration if the gross revenue of the member, professional corporation or partnership from those services is equal to or greater than the amount under clause (

a) but less than the amount specified in the regulations for the purpose of this clause. 9

Section 48(1)(

a) presently reads: 48(1) A registrant designated by the regulations who, alone or through a professional corporation, a corporation or a partnership, (

a) conducts any aspect of a public accounting practice or provides to the public any professional services as specified in the by-laws, and 10

Section 96(2)(b)(

v) presently reads:

(2) Where other decisions are made by a discipline tribunal, subject to the by-laws, the discipline tribunal secretary (

b) if there is no direction from the tribunal, may publish or post the decision, or a

summary of the decision or any aspect of it, together with any other information the accounting organization considers necessary to protect the public interest, to any or all of the following: (

v) the employer of the investigated party; 11

Schedule 2 presently reads in part: 3 A registrant of the Association may, if authorized by the regulations, use any of the following titles, abbreviations and initials: 3 Explanatory Notes

3 A registrant of the Association may, if authorized by the regulations, use any of the following titles, abbreviations and initials: (a) "certified general accountant” or “CGA ”; (b) “Fellow of the Certified General Accountants” or “FCGA”; (c) “Accredited Public Accountant” or “APA”; (d) “auditeur public accredité”; (e) “comptable général accredité”; (f) “fellow de la comptable général accredité”; (g) “comptable général agréé”; (h) “fellow de la comptable général agréé”; (i) “comptable général licencié”; (j) “fellow de la comptable général licencié”; (k) “fellow de l’association de comptable généraux accrédité”. 12

Schedule 3 is amended by repealing

section 3 and substituting the following: 3 A registrant of the CMAA may, if authorized by the regulations, use any of the following titles, abbreviations and initials: (a) “certified management accountant” or “CMA”; (b) “Fellow of the Certified Management Accountants” or “FCMA”; (c) “registered industrial accountant” or “RIA”; (d) “fellow comptable management accrédités”; (e) “comptable en management accrédités”; (f) “comptable en administration industrielle”. 4

(a) "certified general accountant" or "CGA”; (b) "Fellow of the Certified General Accountants or "FCGA ”; (c) "Accredited Public Accountant" or "APA”; (d) "comptable général accredité”; (e) "comptable général licencié”; (f) "fellow de la comptable général accredité”; (g) "fellow de l'association de comptable généraux accredité”; (h) "fellow de la comptable général licencié"; (i) "auditeur public accrédité"; (j) "fellow des comptables généraux accredités”; (k) “fellow des comptables généraux licenciés”. 12

Schedule 3 presently reads in part: 3 A registrant of the CMAA may, if authorized by the regulations, use any of the following titles, abbreviations and initials: (a) "certified management accountant” or "CMA”; (b) "Fellow of the Certified Management Accountants” or "FCMA”; (c) "Fellow comptable management accrédités”; (d) "comptable en management accrédités”. Title: 2001 (25th, 1st) Bill 23, Regulated Accounting Profession Amendment Act, 2001 4 Explanatory Notes

Document details

Collection	Alberta — Bills
Citation	L25 S1 122
Type	bill
Volume / chapter	L25 S1 122
Language	en
Format	json
Source	PROVINCIAL
Identifier	ffcee41dcba327f192c86a633e35e813b78803cf

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