ALL ABOUT CHARTERED ACCOUNTANTS
Q: What is a Chartered Accountant?
A: A Chartered Accountant is a certified accountant who does all types of taxes and business records.
Q: What governing body for Chartered Accountants?
A: Ironically the governing body is the CPAC, Chartered Proffessional Accountants of Canada.
Q: What does CGA stand for?
A: Chartered General Accountant
Q: What does CPA stand for?
A: Chartered Professional Accountant
Q: What is the difference between a CGA and a CPA?
A: In Canada we refer to accounts as CGA in the US they are referred to as CPA. While for the most part they are the same there are different requirements and process to get the designation, however in the tasks performed they are the same.
Q: What things can only a CGA perform in Ontario?
A: The preparation of audited statements for publicly traded corporations, charities, condominium corporations and co-operative corporations. That’s largely because those statements must be relied on by investors and owner/members. Therefore, the standards are internationally recognized. As one of my professors liked to say, “The accounting rulers in the clouds”.
Q: Do you need to be a CGA to file taxes?
A: No, although corporate taxes are not generally undertaken by anyone other than an accountant.
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