Public Practice
Many Certified Management Accountants own public practice firms. To find a CMA in public practice in your
area, you will be able to view or download the
CMA Public Practice Roster.
Public Accounting Licensing
Committee
The Committee meets regularly to review and discuss the licensing issues.
The current Committee members are:
Peter C. Buurman, CMA
Gerald T. Dragomir, CMA
Valerie J. Kerekes, CMA
Don B. Nilson, CMA, FCMA (Chair)
Jeffrey A. Sparling, AAT, CMA
Society staff liaison is:
Rick Lightheart, CMA, FCMA
Public Practice Review Cycles
The Public Practice Review Committee has passed a motion for CMABC to adopt the same timing of review cycles
as the Institute of Chartered Accountants, namely four years, (previously every three years). Therefore,
effective immediately, a four year review cycle is in place with all such members now being in Cycle 6.
Public Practice Review
Committee
The Committee meets regularly to review and discuss registered member practice review files.
The current Committee members are:
Bradley J. Billings, CMA
Mark J.L. Kennedy, CMA (Chair & Board Liaison)
Belinda K. Lyons, AAT, CMA
Teresa D. Stilling, CMA
Society staff liaisons are:
Rick Lightheart, CMA, FCMA
Christa Janke, CMA
Public Practicing Member General
Meetings
Meetings are held every third Tuesday of the month and are open to all those members presently in public
practice or interested in this area. For more information, call Mark Kennedy, CMA at 604.437.1978.
Trade, Investment and Labour Mobility
Agreement (TILMA)
Alberta Applicants
On April 1, 2009, the Trade, Investment and Labour Mobility Agreement (TILMA) came into effect. The TILMA
provides for labour mobility for certified workers in good standing in occupations that are regulated in both
provinces.
Under the TILMA, the Certified Management Accountants Society of British Columbia will recognize any
worker who has a current public accounting license as a Certified Management Accountant from the Society of
Certified Management Accountants of Alberta as qualified to practice as a public accounting CMA in BC.
The application requirements for an Albertan public accounting CMA coming to BC are:
- Completion of BC initial registrant application form and requirements
- Proof of good standing in Alberta
- Proof of public accounting license in Alberta
- Proof of Professional Liability Insurance for BC
- Payment of associated BC public accounting fees
A worker with conditions or restrictions on their certification may not be eligible for labour mobility
(e.g. honorary members, students, associate members, etc.) under the TILMA. If you are unsure whether your
Alberta license meets the criteria for labour mobility under the TILMA, please contact Rick Lightheart or
Christa Janke at (604) 687-5891 or 1-800-663-9646.
Further information on this process can be found at http://www.cmabc.com/index.cfm/ci_id/11605/la_id/1/document/1/re_id/0
AATs and Students
Technologist and student members are reminded that they cannot be engaged on their own or in association with
others in the practice of public accounting. They may, however, be an employee of a practicing office.
In other words, an AAT or student member cannot apply his/her accounting skills to the affairs of others
for a fee, except for activities related solely to bookkeeping, cost accounting or the installation of
systems or procedures.
Please note that bookkeeping is the recording of transactions up to and including the trial balance.
Generation of any form of financial statement is considered to be part of the practice of accounting.
Those student or AAT members whose primary occupation (on their own or in association with others) was in
the practice of public accounting on or before June 30, 1995, upon application were permitted to continue to
engage in the practice of public accounting provided they comply with the same requirements and payment of
applicable fees specified by the Public Practice Review Committee for Certified members in the review of
their practice.
For additional information on what activities are considered public practice, please read your by-laws or
contact Christa Janke, CMA at 604.484.7061 or 1.800.663.9646 ext. 7061 or email: christa@cmabc.com
Annual Registration Requirement
All CMA members in public practice, either part-time or full-time, in their home or practice office, are
required under the Society's by-laws to register as a public practicing certified member with the BC
Society.
The term public practice refers to the holding out to the public, by a member, that he or she is able and
willing to provide public accounting services for remuneration.
Any member who is engaged in public practice and has not applied for public practice registration, should
contact Christa Janke, CMA 604.484.7061 or 1.800.663.9646 ext. 7061 or email: christa@cmabc.com
All Public Practitioners are required to carry professional liability insurance, as per Rules of
Professional Conduct Section 408.3(2).
In conjunction with Bylaw 2.22 the Provincial Board approved the following coverage requirements:
| a) |
The minimum level of professional liability insurance required to be carried by a CMA with an
ownership interest in a Practice of Accounting is (per occurrence, per aggregate), $1,000,000 for firms with
less than or equal to 1.5 full time equivalent (FTE) CMAs; $1,500,000 for firms with more than 1.5 and less
than 3.5 FTE CMAs; and $2,000,000 for firms with greater than 3.5 FTE CMAs. |
| b) |
The case where the CMA practice is incorporated, the practice must be named as an
additional insured on the policy. |
| c) |
FTE is to include all CMAs working in any capacity for the firm. |
Audit Certification Board
Members who wish to provide audit services to reporting companies or reporting societies, must make
application to the Auditor Certification Board for certification. Terry McMillan, CMA, has been appointed to
the Provincial Government Auditor Certification Board and can be contacted should you require further
clarification regarding certification. Tel: 250-469-8087 or email: terry.mcmillan@fortisbc.com.
CICA Handbook
The CICA Handbook has been accepted by the provincial and federal governments and is accepted by the Society
as the required standard of disclosure and performance with respect to financial statements in Canada. To
purchase your copy of the CICA Standards & Guidance Collection, go to www.knotia.ca.
Links to Public Practice Member Sites
> BlackFish Accounting Group
> Gershon & Company
> Nilson & Company
> Teresa Stilling, CMA
