AICPA, CPA Canada to collaborate in forensics, technology advisory services

Members of the Chartered Professional Accountants of Canada (CPA Canada) will have access to a broad portfolio of specialised information through the AICPA Information Management and Technology Assurance Section and its Forensic and Valuation Services Section.

Under an agreement announced Friday, CPA Canada members can join those sections and will have the opportunity to obtain the Certified in Financial Forensics (CFF) and Certified Information Technology Professional (CITP) credentials. Previously, those credentials have been available only to AICPA members.

Practice aids, webcasts, newsletters and online forums related to the specialty areas also will be available to CPA Canada members who join those sections.

“Clients and employers increasingly look for specialised skillsets to tackle issues made more complicated by technology and the pace of globalisation,” Frank Colantonio, CPA, CA, director of continuing education for CPA Canada, said in a news release. “This alliance between CPA Canada and the AICPA will help them more easily identify financial professionals across North America who have met the highest bar of competency to navigate complex issues like technology risk and fraud prevention.”

This expansion of a cross-border collaboration was made possible when the AICPA governing council in May authorised the Institute through its board of directors to offer specialised credentials to non-US accounting professionals. The AICPA is working only with accounting bodies with significant national or international stature and stringent eligibility requirements and codes of conduct.

CPA Canada was established in January 2013 when three Canadian legacy accounting designations (Chartered Accountant, Certified Management Accountant and Certified General Accountant) were united under the Chartered Professional Accountant designation.

In addition to the forensics and technology areas, CPA Canada members can use AICPA resources in business valuation and personal financial planning. CPA Canada and the AICPA will evaluate the potential for making the AICPA Accredited in Business Valuation (ABV) and Personal Financial Specialist (PFS) credentials available to CPA Canada members in the future.

The agreement “gives clients across North America a benchmark for top-level quality – the CFF and CITP credentials – and creates opportunity for CPAs in both countries to collaborate in new ways to advance the public interest,” Jeannette Koger, CPA, AICPA vice president–Member Specialization & Credentialing, said in a news release.

—Ken Tysiac (ktysiac@aicpa.org) is a CGMA Magazine senior editor.