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Chartered Professional Accountants and
(Filed January 9, 2015)
Under the authority of section 46 of the Chartered Professional Accountants and Public Accountants Act
, the board of the Association of Chartered Professional Accountants of Newfoundland and Labrador, with the approval of the Minister of Service Newfoundland and
2. In these regulations
(a) "Act" means the Chartered Professional Accountants and Public Accountants Act ;
(b) "applicant" means a person applying to the association for membership;
(c) "by-laws" means the by-laws of the association;
(d) "firm " means a sole proprietorship, partnership or corporation;
"partnership" includes a limited liability partnership;
body" means an organization of chartered professional accountants or public accountants incorporated in a province or
(g) "rules of professional conduct" means the rules of professional conduct of the association; and
(h) "student" means a person who is enrolled with the association in a school or program of accountancy offered or approved by the association as meeting the educational requirements for certification.
Admission to membership
The membership of the association consists of those persons who are members or fellows of the association in good standing at the date of the first enactment of these regulations and those other persons who are afterward admitted, and who continue in good standing.
(2) The board may by resolution admit to membership of the association a student who has registered with the association and who has fulfilled the educational, practical experience and examination requirements prescribed by the board, completed a declaration in the form the board may require and for whom it has received satisfactory evidence of good moral character.
(3) The board may admit into membership of the association
(a) a member in good standing of a provincial body and whose professional qualifications and experience are satisfactory to the board;
a member or former member of an accounting body outside Canada which recognizes membership in the association as a basis for obtaining membership in that body without requiring that its normal final examinations be written and passed, if the other accounting body
is designated by the board under subsection 8(1), in the case of a current member in good standing of the accounting body,
was designated by the board under subsection 8(1), or a predecessor provision when the former member ceased to be a member in good standing of that accounting body, in the case of a former member, or
was a body designated by the board under subsection 8(1), or a predecessor provision, on the date the person applying to the association was admitted to membership in that body, if the body is not designated under subsection 8(1), on the date of making application to the association,
and if the applicant has fulfilled all of the educational, practical experience, and examination requirements as prescribed by the board for an applicant under this paragraph; and
a certified public accountant from the United States who is in good standing with a state board of accountancy or equivalent body which recognises membership in the association as a basis for being in good standing with the board without requiring the member to write and pass the uniform certified public accountant examination administered by the American Institute of Certified Public Accountants, if he or she has fulfilled all of the educational, practical experience and examination requirements prescribed by the board for applicants under this paragraph.
A member shall be entitled to receive a certificate of membership which shall be in the form that the board may determine and to hold the certificate as long as he or she remains a member.
certificate remains the property of the association and in the event of termination or suspension of membership for a reason other than death shall, at the request of the board, be returned to the association.
Application for membership
5. (1) An applicant for membership in the association shall make application to the registrar in writing and the application shall be accompanied by a declaration signed by the applicant that the contents of the application are true and correct.
(2) An applicant shall inform the board if he or she
(a) has been convicted of a criminal or similar offence;
has pleaded guilty or been found guilty of a violation of the rules of professional conduct;
is the subject of an investigation by the complaints authorization committee or a body having similar powers with another provincial body;
is the subject of a charge laid by the disciplinary body of another provincial body; and
6. The certification of a chartered professional accountant or the licensing of a public accountant granted under section 10 of the Act shall be renewed by the registrar if the member fulfils the following requirements:
(a) submits to the registrar completed forms or reports that may be prescribed by the board for the continuation of certification or licensing; and
Readmission to membership
7. (1) The board may re-admit to membership of the association an applicant who has completed the requirements prescribed by the board for readmission.
(2) The board may require an applicant to submit documentation acceptable to it that an applicant has completed the prescribed requirements for readmission.
Designated accounting bodies
The board may designate particular accounting bodies outside Canada which have educational, practical experience and examination requirements for qualification for membership which are acceptable to the association, and professional standards and requirements for admission to and continuance of membership which are acceptable to the association.
(2) The board may remove the designation of a particular accounting body made under subsection (1).
(1) A member of the association in good standing may, by 2/3 vote of the board, be admitted as a fellow of the association.
A member who is admitted as a fellow of the association shall be entitled to take and use the designation "Fellow of Chartered Professional Accountants" or the initials "FCPA" and shall be granted a certificate accordingly.
The use of the designation "FCPA" shall be subject to the by-laws of the association.
A person, who has given conspicuous service to the association, either in the advancement of its educational objects or general welfare, or by material contribution to the association, may by 2/3 vote of the board be elected to honourary membership in the association.
Use of designation
A member, practising in partnership with a person who is not a member, shall not permit the partnership to take or use the designation "Chartered Professional Accountants" or "Fellow of Chartered Professional Accountants", or permit the partnership to take the initials "CPA" or "FCPA".
(2) A member who is licensed as a public accountant, practising in partnership with a person who is not licensed as a public accountant, shall not permit the partnership to take or use the designation "Licensed Public Accountants" or permit the partnership to take the initials "LPA".
Firm and professional corporation names and registration
12. (1) A member, firm, or professional corporation shall register with the association, in the manner prescribed by the board, the name or names under which the member, firm or professional corporation carries on an accounting practice or a related function, business or practice.
(2) The board may authorize a member, firm or professional corporation to practice under a name which is consistent with the rules of professional conduct.
(3) Upon registration with the association, a firm or professional corporation shall designate a member of the association to be the designated representative of the firm or professional corporation.
(4) In addition to the requirements in subsection 18(2) of the Act, a professional corporation shall
(a) provide to the registrar a certified copy of the articles of incorporation; and
(b) pay an annual or other fees or dues prescribed by the board.
(5) A member shall notify the association in writing not later than 30 days following
(a) a merger of the members practice with another members practice or a firm or practice;
(b) the acquisition by the member of another members practice or a firm or practice; and
(c) the closure or termination of the members practice.
(6) The designated representative of a firm shall notify the association in writing not later than 30 days following
(a) the merger of the firms practice with another members practice or a firm or practice;
(b) the acquisition by the firm of another members practice or a firm or practice; and
(c) the dissolution of the firm.
(7) The designated representative of a professional corporation shall notify the association in writing not later than 30 days following
(a) the merger of the professional corporations practice with another members practice, or firm or practice;
(b) the sale or transfer of the voting shares of the professional corporation to another member or firm;
(c) the acquisition by the professional corporation of another members practice or a firm or practice; and
(d) the dissolution or amalgamation of the professional corporation.
(8) The name of the professional corporation shall include the words "professional corporation" and shall comply with subsection (1) in respect of the names that may be used and registered by professional corporations.
(9) A partnership consisting of 2 or more professional corporations or of one or more members and one or more professional corporations may establish a firm for the purpose of providing the services of chartered professional accountants or public accountants.
(10) The sale or transfer of the voting shares of a professional corporation to another member or firm does not require re-registration unless the professional corporation continues to provide the services of a chartered professional accountant or public accountant after the sale or transfer takes effect.
Limited liability partnerships
13. (1) A firm that has registered one or more offices under section 12 is eligible to be registered as a limited liability partnership under section 55 of the Partnership Act .
(2) A limited liability partnership shall provide to the association proof of registration as a limited liability partnership and pay the fee the board may prescribe.
14. The association may
(a) directly administer a program of accountancy;
(b) enter into agreements or arrangements with another body or school for the provision of a program or school of accountancy; or
Filling of allegation
Within 30 days of receipt of an allegation under subsection 29(1) of the Act the respondent shall be notified in writing that an allegation has been received.
A respondent shall have 30 days from receipt of the notification of the allegation to respond to the complainants allegation.
The chairperson of the complaints authorization committee shall inform the respondent and the complainant within 120 days of receipt of the allegation whether the committee intends to conduct an investigation of the allegation under section 31 of the Act.
Appointment of adjudication tribunal
Adjudication tribunal hearing date
An adjudication tribunal shall set a hearing date at the later of
120 days after the decision of the complaints authorization committee that grounds exist to start a disciplinary proceeding; or
90 days after the complaint is referred to the disciplinary panel.
Decision of adjudication tribunal
18. The decision and orders of an adjudication tribunal shall be provided in writing to the board and the respondent within 90 days of the completion of the hearing of the complaint by the adjudication tribunal.
Alternative dispute resolution
19. (1) Where an allegation is referred by the complaints authorization committee to the registrar or another person for alternative dispute resolution, the registrar or other person has 120 days from the referral to resolve the allegation.
Service to the public
20. For the purpose of subsection 10(6) of the Act, a person provides services directly to the public where he or she
(a) practises as a "public accountant" as defined in the Act;
(b) performs an assurance engagement as defined in the CPA Canada Handbook;
(c) performs a specific auditing procedures engagement as defined in the CPA Canada Handbook;
(d) performs a compilation engagement as defined in the CPA Canada Handbook where there is third party reliance on financial information that is the subject of the compilation engagement;
(e) practises accounting, where it involves analysis, advice and interpretation in an expert capacity, but excluding record keeping;
(f) practises taxation, where it involves advice and counselling in an expert capacity, but excluding mechanical processing of returns; or
21. These regulations come into force on January 9, 2015.