Serving the Public
Chartered Accountants Act, 2010
A New CA Act for Ontario
The new Chartered Accountants Act, 2010, was enacted into law on May 18, 2010. It is the result of extensive and detailed consultations spanning many months between senior Institute staff and legal and other officials in the Ministry of the Attorney General.
The prior Chartered Accountants Act was introduced in 1956 and was in need of significant changes to better reflect the operating realities of the Institute and profession in the 21st century. It was widely felt that piecemeal amendments to the 1956 Act were no longer adequate to this task, requiring the creation of completely new legislation.
The Chartered Accountants Act, 2010 will significantly strengthen the Institute’s regulatory scope by:
Members will know that a provision of the new legislation (carried over from the prior CA Act) was challenged by certain foreign-based accounting organizations. View an Institute news release that addressed these concerns.
The Accounting Professions Act 2010 will also replace prior legislation governing the CMA and CGA associations in Ontario.