CGA and CMA Ontario End Merger Discussions
May 15, 2012
CGA Ontario and CMA Ontario both announced today that their Boards have terminated merger discussions with the ICAO. In making the announcement, the organizations both cited key issues that could not be resolved to the satisfaction of all parties. See CGA Ontario’s announcement. In my previous update, I referenced these issues in Ontario and acknowledged that challenges in some other provinces exist as well.
As CGA-BC has communicated to its members and other stakeholders, we have supported the concept of unifying the profession under the right terms, noting specifically that the proposed unification and the underlying framework on which it is based are national initiatives. The CGA-BC Board has recognized that because Ontario represents 50 per cent of the Canadian accounting profession and is Canada’s financial centre, CGA-BC cannot support moving forward with unification without a similar merger in Ontario. CGA-BC’s leadership will consider this development as part of any of its next steps and will, as always, provide additional updates as any new developments arise.
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Gordon Ruth, FCGA
Chief Executive Officer