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FROM THE PRESIDENT’S DESK
ZUBAIR CHOUDHRY President & CEO
Why Unity, Innovation, and a Modern Accounting Profession Are Essential to Building a Resilient Canadian Economy
Canada is entering a defining moment - one that demands unity, innovation, and a future-ready accounting profession capable of supporting a rapidly evolving national economy.
A Nation Redefining Its Economic Path
Canada’s economy is shifting toward diversification and global resilience. While U.S. tariff proposals dominate headlines, Canada’s long-term strength lies in its capacity to innovate, expand international partnerships, and chart its own economic course.
SMEs: The Backbone of Canada’s Prosperity
Small and medium-sized enterprises (SMEs) account for 98% of all businesses and employ 65% of Canada’s workforce. Despite challenges such as rising inflation, labour shortages, tax compliance burden, and increasing costs, SMEs continue to drive innovation and job creation.
Registered Professional Accountants (RPAs) play a vital role in supporting this sector by providing accessible, affordable, and accurate accounting, tax, and advisory services essential for sustainability, growth, and regulatory compliance.
A One Canada Economy: Removing Barriers
This is a transformative moment for our country, a time for Canadians to rally behind the vision of a One Canada Economy, built on unity, innovation, and confidence in our national strengths. Under the leadership of Prime Minister Mark Carney, Canada is pursuing a bold economic agenda focused on sustainability, resilience, and long-term prosperity.
His government’s emphasis on job creation, global competitiveness, and improving quality of life for future generations is laying the foundation for enduring success.
Canada is wealthier and stronger than it often appears, and it is encouraging to see provincial governments increasingly aligning with federal priorities to advance economic stability and shared progress.
Significant strides have been made toward interprovincial free trade, labour mobility, and barrier-free access to professions. However, greater national clarity is needed for segments of the accounting profession operating outside provincially regulated public accounting frameworks.
RPA Canada is at the forefront of this effort, strengthening education standards, professional competencies, and ethical practices while prioritizing public protection.
Addressing the Talent Gap
Enrolment in accounting programs is declining at a time when demand for skilled professionals is growing. Streamlined recognition of credentials for foreign-trained accountants is essential to bridge this talent gap and bolster economic stability.
AI and the Future of the Profession
Artificial Intelligence is reshaping the accounting landscape through automation, advanced analytics, and enhanced advisory capabilities. Uneven adoption risks creating a technological divide that could hinder Canadian businesses’ competitiveness. We must act now to ensure widespread access to these tools and skills.
Canada’s moment is now. By embracing innovation, strengthening our professional frameworks, and uniting behind a bold economic vision, we can build an economy that not only withstands global uncertainty but leads with confidence and purpose.
ARE WE THERE YET?
Ten years after unification, Bruce Manion reflects on the evolution of Canada’s accounting profession from RIA and CMA to CPA and questions whether size has come at the cost of focus, depth, and relevance. A candid look at governance changes, professional identity, and whether the profession is truly on the right road.
By Bruce Manion, FCMA, FCPA – Principal at BPM Consulting Services
The withdrawal of Ontario and Quebec from CPA Canada marked a turning point, removing approximately 145,000 members and raising serious questions about governance, transparency, and long-term sustainability.
When I was a little boy, my father loved to take my whole family on long trips in our car. In his mind, this was the best way to experience Canada. My father served in the Canadian militia where he trained in armour (tank) support. He drove the huge trucks that carried tanks from one battlefield to another. Driving for him was therapy, even with four unruly kids, and often a dog, in the car. Invariably, one of us kids would ask “Are we there yet?”. His answer was a simple and immediate “Shut up!”.
In 1983, I was a newly minted Commerce grad, chomping at the bit to get my career in the federal public service off to a blazing start. The program that recruited me into the government automatically enrolled me to obtain a Registered Industrial Accountants (RIA) designation. This caused some issues as my family has a strong Irish lineage on my dad’s side. When asked by one of the many maiden aunts or greataunts on the Manion side “And what is Bruce doing these days?”, Mom often responded “Oh, he’s with the IRA”! You can’t make this stuff up, folks.
On the very day that I went to write my last RIA exam, I received a letter from RIA Canada informing me that, henceforth, the RIA designation would be known as Certified Management Accountant (CMA). I felt cheated. I had worked so hard to become an RIA, plus, my baby brother had just become a medical doctor… two CMA members from two different professions was going to be simply too much for Mom!
Fast-forward thirty years. I enjoyed a good career as a finance officer in government and, mysteriously, wound up getting recognized for my troubles. In 2014, we saw our profession “unified” under a single banner…CPA. I got to put the new letters, FCPA, after my name, to join the FCMA already used there.But what did my new CPA comrades in accounting and I gain from that? Well, we saw our ranks grow from the pre-unification numbers of the previously recognized designations of CA (78,000), CGA (75,000) and CMA (50,000) to combine them into one professional body of just over 200,000 members. That added heft to the unified profession, but did it add any real depth? The jury is still out for me on that matter.
One of the drawbacks stemming from unification that some older observers within the profession noted, me included, was the loss of the central focus each of the three previous designations, especially those of the CGA and CMA groups in favour of an emphasis on what was traditionally the CAs bread and butter. In my view, this has led to a weakening of managerial accounting expertise and close support for management in the provision of financial insight and analysis. This is certainly the case in the public sector.
In 2023, the two largest provincial regulating bodies for CPAs, those in Ontario and Quebec, left the CPA fold taking with them approximately 145,000 members out of a total number for all of CPA Canada of 220,000 members. While individual members from Ontario and Quebec were allowed to purchase their own membership directly from CPA Canada after the split with the two provincial regulatory bodies, the number of members from those two provinces who chose to do so has not, to my knowledge, been provided publicly.
The newest development in this tangled web of events has been an amendment to the CPA by-laws that was approved by members at a recent special meeting. That amendment has altered the governance and membership structure of CPA Canada, in essence putting all members on the same basis as those from Ontario and Quebec in that their membership in CPA Canada becomes optional and no longer through their provincial body on a mandatory basis.
Of interest in this process was the lack of meaningful information regarding the proposed change prior to the special meeting to approve it. A subsequent session held last week was a glorified sales pitch to existing CPA Canada members to retain their membership in the national organization. In both sessions, the questions from members appear on the surface to have been heavily moderated with no follow-up Q&A document dealing with any outstanding questions asked during the sessions.
What was of real apparent interest, however, was the pronouncement that the annual fees for CPA Canada, which are currently collected directly by the provincial bodies and paid by them to CPA Canada, would be reduced by half, from $400 to $200 annually. The amount of approximately $73 million in revenue was derived from members fees as stated in CPA Canada’s 2022-23 Annual Report, which represented just over 56% of its revenues for the year.
Even with that revenue inflow, CPA Canada had an operating shortfall of just over $11 million for that same year. What will happen to CPA Canada’s capacity to provide support to its members if its revenue from membership dues is cut by nearly $30 million? The membership revenue from 2024-25 had already dropped by $17 million, most likely due to the number of members from Ontario and Quebec not opting to sign up for a direct membership with CPA Canada.
Against this backdrop, the author highlights emerging alternatives, including international partnerships with CMA Australia and flexible pathways being developed by organizations such as The Society of Professional Accountants of Canada (RPA Canada), aimed at better aligning professional education with realworld business and public-sector needs.
Also of interest of late, has been the outreach by the Registered Professional Accountants of Canada (RPA) to other jurisdictions, such as CMA Australia and several international institutions of higher learning, to partner with them to provide more flexible and adapted professional skills training and accreditation in accountancy, to meet the growing needs for accountants that are in line with their individual business drivers and resources. I include the Canadian public sector in that group.
So, after ten years of unification in Canadian accountancy, maybe it is time to take stock and check the roadmap and ask, from my own personal experience, “Are we there yet?”.
I can still hear my father’s voice… R
CRA’S ROADMAP TO G7 GOLDSTANDARD SERVICE EXCELLENCE
Breaking Financial Concentration: Ottawa’s Push to Empower Credit Unions and Increase Competition.
As Canada accelerates toward a more digital and innovationdriven economy, the Canada Revenue Agency (CRA) is redefining service excellence to strengthen public trust and better serve taxpayers and businesses. While Canada’s financial sector remains strong, increased competition is essential to ensuring accessibility and affordability.
At the forefront of this transformation is the Honourable Wayne Long, MP, Secretary of State for the CRA and Financial Institutions. In an exclusive conversation with Professional Accountant Magazine Publisher Zubair Choudhry and Editor Michael Saniga, Secretary Long shares insights on CRA modernization, compliance reform, and enhanced support for small and medium-sized enterprises (SMEs), while underscoring the role of Canada’s banking system in maintaining public confidence.
The following interview transcript has been edited for clarity, grammar, and readability.
Zubair: Secretary Long, it’s a winter afternoon in Ottawa, the holidays are approaching, and your schedule is full, yet you appear energized rather than fatigued. How are you settling into this role?
Secretary Long: I love it, as you can probably tell. It’s a big beast, but I like breaking big things down. These are complex files, but complexity doesn’t scare me. Systems can be improved if you focus on fundamentals, culture, and accountability.
FROM BUSINESS OWNER TO SYSTEMS BUILDER
Zubair: Your approach feels less like traditional politics and more like operational leadership. How has your background shaped that mindset?
Secretary Long: Before politics, I ran small businesses, worked in aquaculture, co-owned restaurants, and served as President of the Saint John Sea Dogs.
In those roles, performance and service weren’t optional. I learned early on that if you identify a problem and don’t act on it, you’re not managing, you’re just watching. Whether it’s season-ticket holders or taxpayers, people want clarity, service, and accountability.
Zubair: You had indicated you were ready to step away from politics. What changed?
Secretary Long: I thought my chapter was done. Then Prime Minister Mark Carney called. He wanted someone comfortable challenging systems, asking hard questions, and fixing things. That’s hard to say no to. Being asked to serve as Secretary of State for the CRA and Financial Institutions is a privilege, but it also comes with a responsibility to roll up your sleeves.
CRA: FIXING SERVICE BEFORE REDESIGNING THE SYSTEM
Zubair: The CRA is often the most visible and criticized face of government for businesses and accountants. What did you see when you arrived?
Secretary Long: As an MP, constituents came to us when they were already frustrated. We were the last resort. When I stepped into this role, the numbers told the story. Only 34 percent of calls were being answered within service standards. Problem-resolution cases that should take days were taking six or seven weeks.
Zubair: You and Minister François-Philippe Champagne launched a 100-day service improvement plan. Now that those 100 days have passed, are you satisfied with the progress?
Secretary Long: We’re encouraged but not complacent. We extended contracts for 770 workers, reallocated resources, and focused relentlessly on where the system was breaking down. Today, phone response rates are consistently over 70 percent, and problem-resolution timelines are down to 48-72 hours. That’s meaningful progress but it’s just the foundation.
When I stepped into this role, the numbers told the story - only 34% of calls were answered within service standards, and issues that should take days were taking weeks. Secretary Wayne Long.
We cut problem-resolution timelines from six to seven weeks to 48–72 hours by fixing where the system was breaking down, said Secretary Long.
Zubair: How do these changes support accounting professionals who deal with the CRA daily?
Secretary Long: Predictability matters. Call-back scheduling is a great example. When you know when the call is coming, you’re prepared, the agent is prepared, and everyone wins. Our goal is to make interactions more efficient so professionals can focus on advisory work not navigating bureaucracy.
TECHNOLOGY AS ENABLEMENT, NOT REPLACEMENT
Zubair: You’ve emphasized technology as a solution but not a silver bullet. How do you see its role?
Secretary Long: The CRA processes 30 million calls a year, 74 million website visits, and 2,000 tax returns per minute during peak season. You don’t fix that by hiring alone. You fix it by making the system smarter. That includes secure online account unlocking, real-time account updates, expanded callback scheduling, and a next-generation AI platform to replace the legacy chatbot.
If we reduce call volume by even 10-15 percent through better digital tools, that frees agents to do the work that requires a human.
Zubair: Looking ahead to 2026 and beyond, what is your longterm vision for the CRA?
Secretary Long: We’re building a three-to-five-year roadmap to make the CRA a gold-standard revenue agency in the G7. That’s about leadership, metrics, and culture. Service excellence isn’t accidental, it’s designed.
TAX FAIRNESS AND COMPLIANCE
Zubair: Tax fairness remains a major concern for Canadians. How is the CRA balancing enforcement with fairness for compliant taxpayers?
Secretary Long: Fairness is critical. We’re focused on aggressive tax avoidance, the underground economy, and evasion but that must be done transparently and proportionately. Compliant taxpayers and small businesses should never feel punished for doing the right thing. Better data, better analytics, and smarter targeting allow us to focus enforcement where it belongs.
Financial Institutions and Consumer-Driven Banking
Michael: Turning to financial institutions, why is consumerdriven banking such a priority?
Secretary Long: Canada’s system is stable, but it’s highly consolidated. The big six control about 93 or 94 percent of the market. That’s consolidation. Consumer-driven banking puts control of financial data back where it belongs with the consumer and the business.
Michael: You’ve also spoken positively about credit unions. What does that mean in practical terms for SMEs?
Secretary Long: Absolutely, while Canada’s financial sector is strong and stable, it remains highly consolidated, limiting competition, innovation, and choice particularly for small businesses. Drawing on his entrepreneurial background, he noted that businesses are often locked into a single financial institution, making it difficult to move services or consolidate financial information.
We want to make it easier for provincially regulated credit unions to take that next step because that alone increases competition, said Secretary Long.
To address this, the government is supporting greater competition by strengthening the role of credit unions. This includes enabling provincially regulated credit unions to more easily transition to federal regulation, allowing them to compete more effectively with larger institutions and expand consumer choice.
A central pillar of this effort is consumer-driven banking (often referred to as open banking). He stressed that participation will always be voluntary and consumercontrolled, with strong safeguards. Following earlier delays, the government is proceeding with a phased approach: readonly data sharing in 2026, followed by expanded functionality in 2027, alongside the introduction of Real-Time Rail (RTR) to modernize payments.
With oversight by the Bank of Canada, consumer-driven banking will reduce reliance on insecure practices such as screen scraping, improve data security, and enable businesses and individuals to securely share financial information across institutions. The result, he noted, will be greater inclusion, increased competition, lower costs, and more choice shifting the balance of power back to consumers and businesses.
CAPITAL, CONFIDENCE, AND CULTURE
Michael: You’ve said, “Capital is like water it follows the easiest path.” What needs to change in Canada?
Secretary Long: Canada hasn’t always been the best friend of capital investment. That’s changing. When government removes barriers instead of finding reasons not to act, confidence builds. Canadians understand the moment we’re in - there’s risk, but there’s enormous opportunity.
When
businesses see government removing barriers instead of finding reasons not to act, confidence grows said Secretary Long.
PLAYING THE LONG GAME
Michael: These portfolios are massive. How do you personally manage that scale?
Wayne Long: I rely heavily on the people around me policy analysts, senior officials, people who live and breathe these systems. That allows me to stay focused on direction while the work keeps moving. This isn’t a sprint. It’s a marathon.
Michael: Final thought for accounting professionals and SMEs reading this?
Secretary Long: We’re serious about execution. Coordination matters. Service matters. If we get culture and systems right, trust follows and that benefits businesses, professionals, and Canadians alike.
Zubair: This final question is more personal. You are widely known as a very hard-working Member of Parliament, often in Ottawa and away from your family. I would like our readers to understand how you manage the balance between family life and public service. Being away from family has its challenges, but being away from Parliament also has consequences. How do you strike that balance between family and politics?
Secretary Long: It is difficult, obviously, because you are away from home for a significant part of the year. Even during the pre-budget consultations this past summer, I was away roughly 50 out of 60 days. That reality makes it essential to have your priorities clear.
Family always comes first. Your riding is also a top priority. Beyond that, it’s about maintaining a balance between work and family. After nearly 10 years in Parliament, I’ve learned that balance comes down to focus, discipline, and having a plan.
You need to be clear about your priorities and work steadily toward them whether that’s serving the country, advancing work related to the CRA and financial institutions, or addressing local priorities in Saint John, such as waterfront development. This work is a marathon, not a sprint. You must be strategic, patient, and focused.
One of the biggest adjustments for me, coming from small business entrepreneurship, is recognizing that government is like a very large wheel that moves slowly. That can be frustrating at times, but you must stay the course. I’m now in a position where I can help move that wheel forward and contribute positively.
At the end of the day, I’m here to serve. Prime Minister Mark Carney is the right leader at the right time for this country. Canadians are fortunate to have a world-class leader with deep business and economic experience, and I believe there is strong confidence that he will guide Canada through challenging times.
I truly believe that, years from now, we will look back on this period as a pivotal moment for the country and that our government is well positioned to do the right thing.
Zubair: Secretary Long, thank you for taking the time to join us for this exclusive interview with Professional Accountant Magazine. We truly appreciate your insights.
Secretary Long: Thank you, Thanks. R
FROM ONE CANADIAN ECONOMY ACT TO ONE PROJECT, ONE ASSESSMENT: UNLOCKING CANADA’S CRITICAL MINERALS POTENTIAL
By Zubair Choudhry, RPA, APA, FCMA (ANZ) Publisher, Professional Accountant Magazine.
Ontario Premier Doug Ford and Prime Minister Mark Carney have taken a decisive step toward accelerating Canada’s nation-building infrastructure by signing an agreement to streamline environmental assessments for major projects - most notably the long-awaited all-season road to Ontario’s Ring of Fire.
The agreement advances a principle increasingly central to Canada’s economic policy direction: “one project, one assessment.” Much like the vision behind a One Canadian Economy Act aimed at reducing internal barriers and improving national competitiveness. This approach seeks to eliminate regulatory duplication, shorten approval timelines, and restore investor confidence in Canada’s ability to deliver complex, capital-intensive projects.
The Ring of Fire is among Canada’s most strategically important mineral regions, containing significant deposits of nickel, chromite, copper, and other critical minerals essential to electrification, advanced manufacturing, and energy security. Despite long-standing alignment on its importance, progress remained stalled for years due to overlapping assessments and prolonged approval processes that undermined project viability and capital attraction.
Under the new federal-provincial agreement, the Impact Assessment Agency of Canada has committed to completing its review of the Ring of Fire Road project by June 2026, relying primarily on Ontario’s environmental assessment process.
The Honourable Doug Ford Premier of Ontario
The Right Honourable Mark Carney Prime Minister of Canada
This marks a clear departure from previous approaches that often delayed projects through additional studies and procedural complexity.
Since forming government earlier this year, Prime Minister Carney has signalled a shift toward faster execution and clearer jurisdictional alignment. “Our agreement with Ontario will build major projects faster, helping to diversify our trade partners, strengthen our industries, and empower more Canadians with high-paying careers,” he said.
Capital Markets, Policy Alignment, and the Role of RPA
Canada: For professional accountants advising mining companies, infrastructure developers, and SMEs, the move toward one project, one assessment materially reduces regulatory risk, one of the greatest barriers to project financing, particularly for junior and mid-tier mining companies.
In this context, RPA Canada recently provided comprehensive feedback to the Honourable Sam Oosterhoff, MPP, Ontario’s Associate Minister of Energy-Intensive Industries, on capital market enhancement.
The submission emphasized the importance of diversified financing mechanisms, streamlined permitting, public-private partnerships, and ESG-aligned capital structures to improve project bankability and attract long-term domestic and global investment.
RPA Canada highlighted that regulatory clarity must be paired with modern capital market tools such as royalty and streaming agreements, private equity participation, and offtake-linked financing to unlock investment across Canada’s critical minerals and energy-related projects.
The Expanding Role of the Accounting Profession: Accountants play a central role in de-risking large-scale projects through transparent financial reporting, ESG disclosure, cost controls, and risk management. Specialized expertise in mining and natural resources ranging from mining-specific accounting standards to sustainability reporting and commodity price volatility is now essential to investor confidence.
A National Opportunity: The transition from a One Canadian Economy mindset to One Project, One Assessment reflects a broader shift toward execution-focused policy. If sustained, this approach can unlock Canada’s critical minerals potential, strengthen domestic supply chains, and position Canada as a globally competitive destination for investment.
For accountants and business leaders alike, this moment presents an opportunity to align policy, capital markets, and professional expertise in building a stronger, more resilient Canadian economy. R
I want to thank Prime Minister Carney for his leadership in speeding up major projects that will create good-paying jobs and help unlock the enormous economic opportunity of the Ring of Fire,” Premier Ford stated.
Case Study:
The Pillar of Practical Business Education, Linked to RPA and MPAcc Competitions.
By William Wei, PhD, MBA, MA, RPA - President, International Case Research Association, Vice President, North American Case Research Association, Professor and Dean, Algoma University.
Case Study has become an irreplaceable pedagogical tool in business education, bridging theoretical knowledge with real-world practice. It exists in two core forms—research cases and teaching cases—each playing a distinct yet complementary role in nurturing competent business professionals. For students pursuing careers in modern business operations and specialized fields like accounting, this methodology aligns perfectly with the demands of Registered Professional Accountant (RPA) and high-stakes academic events such as MPAcc case competitions, solidifying its relevance in building future-ready skills.
Drawing from global publishing experience with Harvard and Ivey, and his role as a judge at the 2025 “Weishi Cup” MPAcc Student Case Competition, Dr. Wei shows how “learning through competition” mirrors real accounting practice combining analytical rigor, ethical judgment, and cross-functional problem-solving.
Teaching cases, the backbone of business classroom instruction, are context-rich accounts of real business scenarios, often ending with critical dilemmas. Unlike research cases focused on theory development and addressing academic gaps, teaching cases prioritize application: they urge students to “step into decision-makers’ shoes,” apply theoretical concepts, and gain substitute real-life experience—skills directly transferable to RPA implementation and MPAcc practice.
Examples include cases I co-published with Harvard and Ivey Publishing, such as “Shanghai Contron: From Start-up to Growth” and “ClickDishes: Serving New Cities,” which let students practice evaluating processes—a foundational step in business and accounting problem-solving.
This practical focus was vividly showcased in the 2025 “Weishi Cup” MPAcc Student Case Competition, held in Beijing on December 6, 2025. As President of the International Case Research Association and RPA China representative, I served as a judge for this prestigious event, which aimed to deepen the integration of theory and practice for accounting master’s students through “learning via competition.”
Featuring case report writing and on-site defense, it mirrored real-world accounting decision-making—core components of case study methodology. The “Weishi Cup” drew 12 elite MPAcc teams, whose strong expertise and proactive problem-solving reflected rigorous case analysis training. Cases involving cross-functional collaboration or financial transparency prepare students to meet accounting’s ethical and regulatory demands.
Moreover, teaching cases create synergy between research and education, supporting RPA’s evolving landscape and MPAcc talent development. They serve as secondary data for research, while academic insights on process optimization enhance case relevance—ensuring classroom learning reflects emerging RPA trends and accounting industry needs.
The “Weishi Cup” exemplifies this synergy, deepening industry-academia-research integration and advancing MPAcc educational innovation globally. Institutions like Ivey and ICRA partner on case collections, incorporating techfocused and accounting-specific scenarios to equip students with a global perspective on accounting best practices—vital for competing in events like the “Weishi Cup” and thriving professionally.
In essence, case study methodology transforms abstract business and accounting theories into actionable skills, complementing RPA’s transformative potential and elevating MPAcc education. Competitions like the 2025 “Weishi Cup” underscore its value in cultivating versatile accounting management professionals, while alignment with RPA ensures graduates drive operational efficiency in a tech-driven world. By immersing students in realistic dilemmas whether through classroom cases or competitions.
R
Case study methodology connects academia with industry, keeping business education practical, relevant, and impactful for the next generation of leaders.
Healthy Competition in Business Requires Balance Between Professional Integrity and Public Protection
Ontario’s Pro-Business Approach Is Making It Easier for Entrepreneurs to Succeed.
Zubair Choudhry, President & CEO of RPA Canada, recently met with Stephen Crawford, MPP and Minister of Public and Business Service Delivery and Procurement, at the Minister’s Oakville office to discuss the vital role small businesses play in Ontario’s economy and the essential contributions of Registered Professional Accountants (RPAs) who support them.
The discussion focused on how RPAs serve small and medium-sized enterprises through bookkeeping, accounting, tax compliance, and advisory services helping business owners remain compliant, financially organized, and positioned for sustainable growth. Mr. Choudhry emphasized that RPA Canada members provide affordable, accessible, and competent professional services, which are key drivers of small business growth while also safeguarding the public interest through strong ethical standards, accountability, and professional oversight.
Minister Crawford acknowledged the important work being carried out by RPA Canada and noted his awareness of the organization’s positive impact under the leadership of Mr. Choudhry. He highlighted that professional accounting support is fundamental to small business growth, job creation, and ensuring businesses meet their tax and regulatory obligations.
The Minister further emphasized that healthy competition across businesses and the professions that serve them is necessary, noting that a balanced approach is required—one that protects the profession while simultaneously protecting the public interest.
Mr. Choudhry also commended the Ontario Government, under the leadership of Premier Doug Ford, for its probusiness approach and continued efforts to reduce regulatory burdens for entrepreneurs.
He cited the Ontario Business Registry as a strong example of practical reform, noting that the modernized digital platform has improved access to corporate records, streamlined updates, and reduced red tape for businesses across the province.
The meeting reaffirmed a shared commitment to supporting Ontario’s small business community, fostering fair and healthy competition, protecting the public interest, and recognizing the critical role professional accountants play in strengthening compliance, confidence, and economic growth. R
Strong professional accounting support is fundamental to small business growth, job creation, and ensuring businesses meet their tax and regulatory obligations.
— Stephen Crawford, MPP.
RPA Canada Meets with Minister Rechie Valdez to Advance SME and Professional Mobility Agenda
Zubair Choudhry, RPA, APA, FCMA (ANZ), President & CEO of the Society of Professional Accountants of Canada (RPA Canada), recently met with the Honourable Rechie Valdez, MP, Secretary of State for Small Business and Tourism and Minister of Gender Equality, to discuss key priorities affecting Canada’s small and medium-sized enterprises (SMEs) and the accounting profession nationwide.
The meeting focused on the essential role RPAs play in supporting Canadian SMEs through practical, hands-on services, including bookkeeping, accounting, taxation, and management advisory support. As trusted advisors to entrepreneurs and business owners, RPAs work closely with small businesses to ensure compliance, support growth, and promote long-term financial sustainability, particularly in an increasingly complex regulatory and economic environment.
Minister Valdez acknowledged and praised RPA Canada’s leadership in advancing women’s entrepreneurship, notably through the RPA Women Entrepreneur Awards. This national initiative recognizes women-owned businesses across Canada and highlights their significant contributions to economic growth, innovation, and job creation. She emphasized the importance of continued collaboration between government and professional organizations to promote inclusive economic development and expand opportunities for women entrepreneurs.
During the discussion, Mr. Choudhry reaffirmed RPA Canada’s support for Prime Minister Mark Carney’s economic plan and welcomed the introduction of the One Canadian Economy Act. He underscored the importance of reducing interprovincial trade barriers and improving professional mobility, noting that greater access to professions strengthens the national labour market and improves SMEs’ access to timely, affordable, and qualified professional services.
Minister Valdez reiterated the Federal Government’s strong commitment to empowering small businesses as a cornerstone of innovation, job creation, and the growth of Canadian-made products and services. She emphasized that SMEs remain a vital driver of Canada’s economic resilience and global competitiveness.
The meeting reflected a shared commitment to fostering a more accessible, inclusive, and growthoriented business environment one in which professional accountants play a central role in supporting entrepreneurs and strengthening Canada’s economy.
WHEN EDUCATION BECOMES MORE THAN A PROGRAM, IT BECOMES A LIFE EXPERIENCE
Where Executive Learning Meets Purpose, Culture, and Perspective
Technology is no longer merely supporting the accounting profession—it is fundamentally redefining it. Transactions are recorded instantly, taxes calculated in real time, and payments automated. Many tasks once central to accounting have been absorbed by systems powered by automation and artificial intelligence.
Industry data reflects this transformation. Research examining nearly 200 accounting firms in Australia found that SME accounting firm profits declined by almost 40% between 2013 and 2018, signalling a profession entering a mature and increasingly vulnerable phase. While services such as tax, reporting, and bookkeeping remain, their economic value continues to erode as competition intensifies and margins shrink.
The implication is clear: accounting can no longer operate as a cost centre. It must evolve into a value-driven profit centre.
From Compliance to Strategic Value
The future of the profession lies in insight-led advisory services. Relevance today depends on capabilities in performance management, business analytics, strategic decision support, digital transformation, and advanced tax planning—areas where judgment and interpretation create real value.
Recognising this shift, I invested in structured executive learning focused on performance management and value creation, moving beyond transactional reporting to linking strategy, metrics, and executive decision-making.
A Journey That Began Alone
In May 2025, I travelled alone from New Delhi to Toronto to attend the C-Suite Executive Program in Management Accounting, jointly delivered by Australian CMA and Canadian RPA institutions.
It was my first visit to a far-western country, nearly 12,000 kilometres from home. While daunting, meaningful growth often begins beyond comfort zones.
Staying at the University of Toronto rather than a hotel allowed me to experience the city as a resident. Commuting daily by public transit created a deeper connection—not only to Toronto, but to the learning journey itself.
Learning with Real-World Relevance
The program was both rigorous and practical, covering strategic cost management, business valuation, supply chain strategy, performance measurement, and disruption management. Its strength lay not just in the frameworks taught, but in how closely they were tied to real executive decision-making.
Equally impactful was the learning environment. As the only participant from outside Canada, I was welcomed with warmth and inclusivity. The support of Zubair Choudhry, President & CEO of RPA Canada, along with his team— Michael Saniga, Umar Choudhry, Alejandro Velez, and Mariz Dela Rosa—and fellow participants transformed the program into a truly collaborative experience.
Beyond the Classroom
After the program, my journey continued through Edmonton, Calgary, Banff, Lake Louise, and Jasper. Sitting quietly at Lake Louise, surrounded by stillness and mountains, one truth became clear: this experience was never about a certificate. It was about stepping into uncertainty, learning beyond classrooms, and embracing education as a force that shapes not only professional capability, but also perspective, resilience, and purpose.
In a profession facing rapid disruption, education is no longer about accumulating credentials. It is a strategic enabler— building judgment, insight, and the ability to create value in an increasingly complex world.
Some journeys remain with us not because they were meticulously planned, but because the unexpected gave them meaning. This experience reaffirmed that when learning is anchored in purpose and lived experience, it reshapes how we think, decide, and contribute—long after the program concludes. R
I respectfully encourage Zubair Choudhry, President & CEO of RPA Canada, to continue offering the C-Suite Executive Program globally. Beyond strengthening executive capabilities, the program offers professionals a rare opportunity to engage with Canada’s culture and values, fostering globally minded, ethically grounded leadership.
RPA Canada Delegation Meets with Ontario Minister of Small Business, Nina Tangri
A delegation from the Society of Professional Accountants of Canada (RPA Canada), led by Zubair Choudhry, BCom, RPA, APA, FCMA (ANZ), President & CEO, recently met with the Honourable Nina Tangri, MPP, Ontario’s Associate Minister of Small Business, in Mississauga to discuss key issues affecting small and medium-sized enterprises (SMEs) across the province.
The RPA Canada delegation included James Green, RPA, Secretary; Naseem Qadir, Treasurer; Joseph Morgado, RPA, CMA (ANZ), CGBA, Chair of the Professional Practice Committee; and Alejandro Velez, MBA, Office Manager. Discussions focused on the vital role professional accountants play in supporting Ontario’s diverse and growing business community.
During the meeting, Mr. Choudhry highlighted the significant contributions of RPA practitioners who serve SMEs across Ontario in the areas of accounting, bookkeeping, taxation, and management advisory services. He emphasized that RPAs work closely with entrepreneurs and business owners, providing practical, accessible, and affordable hands-on support that strengthens compliance, enhances financial management, and supports long-term business sustainability.
Minister Tangri commended the RPA community for its professionalism and dedication, noting that small businesses are the backbone of Ontario’s economy. She emphasized the critical role SMEs play in job creation, tax contributions, and the delivery of essential goods and services throughout the province.
The Minister also expressed appreciation for RPA Canada’s ongoing efforts to empower women in business through education, mentorship, and entrepreneurship initiatives. She acknowledged that such programs contribute meaningfully to inclusive economic growth and prosperity across Ontario.
The meeting reaffirmed a shared commitment between RPA Canada and the Ontario government to support small businesses, strengthen professional services, and foster a resilient, inclusive, and competitive provincial economy.
THE CREDIT UNION ADVANTAGE
By Anthony Piscitelli, Professor, Conestoga College Chair of the Board, Your Neighbourhood Credit Union.
Canadian Credit Unions have been part of our financial landscape for more than 120 years, beginning with the founding of the first Caisse Populaire in Quebec. In Quebec, credit unions are woven into everyday life as strong competitors to the big five banks. Yet outside of Quebec, credit unions remain underutilized, despite offering many advantages to Canadians.
Credit unions are structured as customer co-operatives. People who do their banking at a credit union first become members by buying a small membership share. This business model shifts decision-making away from maximizing returns for external investors and toward a simple guiding question: “What is best for our members?”
At YNCU, where I serve as Chair of the Board of Directors, we saw this distinction clearly. In March 2022, as interest rates appeared poised to rise rapidly, YNCU recognized that many members with variable-rate mortgages were at risk of experiencing sudden and steep payment increases.
In response, YNCU made the decision to contact our members and advise them of the benefits of switching to a fixed-rate mortgage for the remainder of their terms. While it was not the most profitable path for the credit union, it was unquestionably the right one for our members, and nearly all chose to make the switch. They were undoubtedly glad they did, as mortgage and prime rates rose sharply in the months that followed. The board fully supported management’s decision to prioritize members’ long-term financial stability over short-term profitability.
This devotion to helping members is one of the reasons that small businesses prefer to do their banking with credit unions. According to a Canadian Federation of Independent Business (CFIB) report, small businesses rate credit unions higher in service satisfaction than the big five banks. By understanding small business members better, credit unions can offer greater flexibility in lending. Small businesses value this approach, which explains why Canadian credit unions control 21% of the lending market for small and medium-sized businesses.
For Registered Financial Professionals, I encourage you to consider the credit union in your community. For your own business or for clients seeking local advice and transparent decision-making, a credit union may offer an experience that aligns with your professional values.
Once you see that difference, I suspect you will start recommending credit unions to your clients. R
Credit unions put members first. Anthony Piscitelli shows how the cooperative model prioritizes longterm financial well-being over shortterm profit, offering relationship-based service, local expertise, and strong support for small businesses making credit unions a compelling alternative to traditional banks.
RPA CANADA PROUDLY CELEBRATED
SMALL
BUSINESS WEEK
This year’s 7th Annual RPA Women Entrepreneur Awards Gala, a sold-out event at the Hilton Hotel Meadowvale in Mississauga that brought together leaders, innovators, and visionaries to honour the remarkable achievements of women entrepreneurs across Canada.
Guests enjoyed an unforgettable evening that featured a redcarpet experience, an interactive speakers’ corner, captivating live saxophone and violin performances, a dynamic DJ, and a beautifully served plated gala dinner. The celebration began with a remarkable reception that set the tone for an inspiring and uplifting night.
Hon. Nina Tangri, MPP and Associate Minister of Small Business, was the guest of honour.
Small businesses are the heart of our communities and the driving force of Canada’s economy. The work that RPA Canada does to support entrepreneurs especially women who are stepping forward to build and lead successful businesses is truly commendable. Promoting, supporting, and recognizing women in entrepreneurship is not only a noble cause, but also essential for our province’s continued growth and prosperity. RPA Canada deserves applause for its leadership and its commitment to empowering businesses across the country. said Minister Tangri in her speech at the Gala Dinner.
Founded seven years ago by Zubair Choudhry, RPA, APA, FCMA (ANZ), President & CEO of RPA Canada, the RPA Women Entrepreneur Awards reflect the profession’s commitment to supporting community growth and promoting women’s leadership. When the program began in 2019, just 14.5% of Canadian businesses were women-owned; in 2025, that number has risen to 19.5%, reflecting meaningful progress driven by empowerment, mentorship, and recognition.
Mr. Choudhry highlighted the importance of ensuring the safety, education, and economic independence of women and girls, emphasizing that empowerment means equality nothing more, nothing less.
This year, RPA Canada proudly celebrated six exceptional award winners whose achievements embody resilience, innovation, and excellence:
Monica Butta – eDel Logistics
Flora Peng – Fleur Weddings
Lusi Brace-Plaku – Brace Law
Professional Corporation
Jasleen Kaur Soni – Soni Dental Group
Chitralekha Potnis – Peel College of Professional Studies
Marly Broudie – SocialEyes Communications
With 28 outstanding nominees, each deserving recognition, the gala showcased the strength and diversity of women who are shaping Canada’s entrepreneurial landscape.
As RPA Canada marks seven years of this inspiring initiative, the RPA Women Entrepreneur Awards continue to grow as a national platform dedicated to honouring women who lead, innovate, and make a lasting impact on Canada’s economic and professional future.
GALA AWARDS DINNER: PICTORIAL
HOW THE CRA’S 2025 REFORMS RESHAPE COMPLIANCE FOR TAXPAYERS AND TAX PROFESSIONALS
Canada’s Self-Assessment System and the Role of Voluntary Disclosure.
By Kiran Choudhry, CGA, CPA, Senior Tax Manager
Canada’s income tax system operates on the principle of self-assessment. Individuals and businesses are expected to accurately report income, file required information returns and calculate taxes owing each year. When errors or omissions occur, the consequences can be significant ranging from penalties and interest to, in serious cases, criminal prosecution.
To encourage taxpayers to correct past non-compliance, the Canada Revenue Agency (CRA) administers the Voluntary Disclosures Program (VDP). The program allows taxpayers to proactively correct inaccurate filings or disclose previously unreported information while potentially avoiding penalties and prosecution.
Effective October 1, 2025, the CRA has implemented major changes to the VDP. These reforms replace the post-2018 “General” and “Limited” programs with a new framework focused on when and how a taxpayer comes forward.
What Is the Voluntary Disclosures Program?
The VDP is an administrative (non-statutory) CRA program that allows eligible taxpayers and registrants to correct past non-compliance across multiple CRA-administered tax regimes. While the program does not eliminate the underlying tax owing, accepted disclosures may provide protection from criminal prosecution and relief from penalties and a portion of interest. Relief under the VDP is discretionary and assessed on a case-by-case basis.
A New Framework Effective October 1, 2025
The CRA has replaced the former General and Limited Programs with a revised two-track system based on whether a disclosure is unprompted or prompted.
Unprompted Disclosures: The Highest Level of Relief
Unprompted disclosures are generally made before the CRA contacts the taxpayer about a specific compliance issue. Applications submitted after receiving only general educational letters or notices may still qualify.
Potential relief includes:
Up to 75% interest relief.
100% penalty relief.
Protection from criminal prosecution.
Prompted Disclosures: Relief Still Available but Reduced
Prompted disclosures occur after the CRA has contacted the taxpayer regarding a specific compliance issue, or after the CRA receives third-party information indicating possible noncompliance.
Potential relief includes:
Up to 25% interest relief.
Partial, or in limited cases full, penalty relief.
Protection from criminal prosecution.
Where a disclosure is accepted, gross negligence penalties generally do not apply to the information disclosed.
Expanded Eligibility for Large Corporations
Under the previous VDP regime, corporations with gross revenues exceeding $250 million in two of their last five taxation years were largely restricted to limited relief.
Under the 2025 framework, larger corporations may now be eligible for more meaningful relief, subject to CRA review and discretion. This signals a shift toward encouraging compliance rather than relying solely on punitive enforcement even for complex, high-value taxpayers.
What Has Not Changed: Core Eligibility Requirements
Despite the structural overhaul, the fundamental requirements for a valid disclosure remain unchanged. A disclosure must:
Be voluntary.
Be complete.
Involve a penalty or potential penalty, and relate to information that is at least one year past due.
Incomplete or selective disclosures remain a common reason for rejection.
What the 2025 Changes Mean for Taxpayers
The revised VDP provides greater access to relief, including for taxpayers who may only come forward after CRA contact. However, the timing of a disclosure now directly affects the level of relief available.
For taxpayers, the takeaway is clear: earlier disclosure generally results in significantly better outcomes, particularly in relation to penalties and interest.
Implications for Tax Professionals
For tax professionals, the revised VDP heightens the importance of:
Early assessment of whether a disclosure is unprompted or prompted.
Disciplined multi-year documentation and managing client expectations around discretionary relief.
The advisory focus has shifted from determining eligibility to strategically structuring complete, defensible disclosures aligned with CRA expectations.
A More Strategic Compliance Environment
The CRA’s 2025 overhaul of the Voluntary Disclosures Program reflects a more strategic, timing-driven approach to compliance. By distinguishing between unprompted and prompted disclosures, clarifying relief parameters, and expanding eligibility, the CRA aims to encourage voluntary compliance while maintaining integrity and fairness.
For taxpayers, addressing non-compliance early can materially reduce financial and legal risk. For tax professionals, the revised VDP presents a clear opportunity to deliver high-value advisory support in an increasingly complex compliance landscape. R
RPA CANADA AT ACCOUNTEX CANADA 2025:
ADVANCING A FUTURE-READY ACCOUNTING PROFESSION
ACCOUNTEX Canada 2025 once again proved to be a dynamic gathering point for the accounting and finance community, bringing together professionals, educators, innovators, and future leaders at the Metro Toronto Convention Centre. This year, RPA Canada was proud to participate as an exhibitor, engaging directly with attendees and highlighting the evolving role of the accounting profession in Canada’s economy.
Throughout the event, visitors to the RPA Canada booth explored the Society’s certification pathways, practice standards, and national initiatives designed to support accountants serving small and medium-sized enterprises (SMEs), the backbone of Canada’s business landscape. Conversations focused on how the RPA designation delivers practical, future-focused professional recognition for accountants working closely with entrepreneurs, business owners, and growing organizations.
As Canada’s oldest national accounting designations, APA and RPA continue to evolve in step with the profession. Accountex provided an ideal platform to reaffirm RPA Canada’s renewed focus on agility, relevance, and professional excellence amid rapid change under the leadership of Zubair Choudhry, an accounting profession visionary.
It’s been wonderful to receive such positive feedback from attendees with accounting backgrounds who are eager to learn about the RPA designation. Many young accounting graduates see RPA as an exciting opportunity to build their careers in the profession, one that’s proudly focused on serving small and medium-sized enterprises. Zubair Choudhry, President & CEO, RPA Canada.
LETTERS FROM OUR READERS
Gina Batista Woodbridge, Ontario.
I am honoured to have been profiled in the newly launched Professional Accountant Magazine. The magazine does an outstanding job of highlighting the contributions of women in business while giving meaningful recognition to small business leaders. It is a powerful platform that celebrates achievement, leadership, and the real impact professionals have in their communities.
Dr. Ian Bourke Campbellville, Ontario
Professional Accountant Magazine is a strong platform for thought leadership and professional dialogue, advancing the accounting profession by bringing together practitioners, business leaders, and policymakers—clearly reflecting the publisher Zubair Choudhry’s vision in action.
Nina Tangri, MPP
Mississauga-Streetsville
After reading Professional Accountant Magazine, I am impressed by the quality of its content and its strong focus on supporting small businesses and economic growth in Ontario. It is a valuable and timely publication.
Steve Moore Langley, British Columbia
in Canada.
Gupta D. Kumar India
The release of the Professional Accountant magazine is truly a commendable initiative. My sincere appreciation to the Honourable President, RPA Canada Zubair Choudhry, RPA, APA, FCMA (ANZ), and the entire team for their dedicated efforts. I would be glad to receive a hard copy of this edition.
Rechie Valdez, MP Mississauga-Streetsville
Professional Accountant is an important platform that elevates the voices of accountants supporting small and medium-sized businesses and contributes to Canada’s economic success.
Ontario
A strong professional publication that reflects the realities and responsibilities of modern accounting practice. Badar
FROM PRACTICE TO PROFESSIONAL RECOGNITION
The Impact of Non-Designation Holders in Accounting Practice and the Fast-Track Pathway to RPA Designation in 2026.
By Umar Choudhry, CPA, RPA, LPA
Across Canada, thousands of experienced accounting practitioners actively serve small and medium-sized enterprises (SMEs) without holding a formal professional designation. These professionals prepare financial statements, manage bookkeeping systems, oversee payroll, support tax compliance, and advise business owners on day-to-day financial decisions. They form a critical foundation of Canada’s SME accounting ecosystem.
Yet despite their contributions, many non-designation holders remain outside a regulated professional framework. As the accounting profession continues to evolve driven by digital transformation, rising regulatory complexity, and increasing expectations placed on SMEs the need to balance access to the profession with public interest protection has never been more important.
The Real Impact of Non-Designation Holders
Non-designation holders play a vital and often underrecognized role in Canada’s economy. SMEs depend on trusted accounting professionals who understand their operations, constraints, and growth objectives. In many cases, these practitioners bring years sometimes decades of hands-on experience, industry knowledge, and strong client relationships.
Their role frequently extends well beyond compliance. They support cash-flow management, internal controls, pricing decisions, and business continuity. For many small businesses, particularly in rural or underserved communities, non-designation holders are the primary source of accounting support.
However, operating outside a formal professional designation also presents challenges for practitioners, clients, and the public.
Public Interest at Risk: Ethics, Accountability, and Competency
The protection of the public interest is compromised when accounting services are delivered without enforceable requirements for ethics, accountability, competency, and adherence to a professional code of conduct.
Unlike designated professionals, non-designation holders are generally not subject to mandatory ethics education, continuing professional development, independent disciplinary processes, or formal complaints mechanisms. While many practitioners act responsibly, the absence of consistent professional oversight creates risk for SMEs and uncertainty for the public.
Public trust in the accounting profession depends on more than experience alone. It requires clearly defined standards, ethical obligations, and accountability frameworks that protect clients and uphold professional integrity.
A Changing Profession Requires Inclusive but Regulated Pathways
Modern accounting is no longer limited to reporting historical financial information. Today’s accountants are expected to analyze data, interpret results, advise management, and support strategic decision-making. As the profession expands in scope and responsibility, pathways to professional recognition must evolve accordingly.
Canada’s workforce realities demand inclusive, practical pathways that recognize experience—while ensuring that every professional serving the public meets consistent standards of ethics, competency, and accountability. Inclusion without regulation weakens public trust; regulation without access excludes capable professionals. A balanced solution is essential.
A Fast-Track Pathway Developed by Canada’s Oldest Accounting Organization
As Canada’s oldest accounting organization, RPA Canada has taken a leadership role in addressing this challenge.
Recognizing both the contribution of non-designated practitioners and the need to strengthen public protection, RPA Canada has developed a fast-track pathway to the RPA designation. This pathway is designed to formally recognize experienced practitioners while integrating them into a regulated professional framework grounded in ethics, accountability, and competency.
The Procedure to Become an RPA Practitioner
The pathway to the Registered Professional Accountant (RPA) designation is structured, transparent, and practice focused. According to the official RPA pathway brochure, the process includes the following key requirements:
Eligibility and Experience
Completion of a college or university degree
A minimum of five years of full-time, current practical accounting practice experience
Active engagement in professional accounting practice
Professional Assessment and Recognition
Attendance at mandatory review sessions designed to prepare candidates for examination.
Successful completion of the Concise Mandatory Professional Examination (CMPE), a competency-based exam developed specifically for non-designated practitioners
Professional Membership and Oversight
Admission as an RPA member in good standing
Adherence to the RPA Code of Ethics and Professional Code of Conduct
Participation in ongoing Continuing Professional Development (CPD)
Public Protection and Practice Standards
Participation in the public complaint and disciplinary process
Maintenance of Errors and Omissions insurance
Participation in periodic practice reviews to ensure ongoing compliance and quality standards
Upon completion, practitioners may obtain an Accounting Practice Certificate, enabling them to operate within a recognized and formulated professional framework.
Rights and Responsibilities of RPA Practitioners
With designation comes both professional recognition and responsibility. RPA practitioners are eligible to sign compilation engagement reports, prepare and file personal and corporate tax returns, access to Ontario Business Registry (OBR), maintain professional liability insurance, and operate within clearly defined professional standards. In return, they are required to uphold ethical conduct, maintain CPD, and cooperate fully with public protection processes
This balance of rights and responsibilities reinforces public confidence and professional credibility.
Benefits for SMEs and the Canadian Economy
A regulated, inclusive pathway to designation delivers tangible benefits across the economy. SMEs gain confidence in the professionals advising them during critical business decisions. Practitioners gain recognition, credibility, and professional mobility. Governments, policymakers and SMEs benefit from greater clarity, consistency, and public protection.
Most importantly, this approach reinforces the principle that professional recognition and public interest protection go hand in hand.
Looking Ahead to 2026
As Canada moves toward 2026, the conversation around accounting regulation must shift from exclusion to inclusion with accountability at its core.
Non-designation holders are not outsiders to the profession; they are already shaping it every day.
Through its fast-track pathway to the RPA designation, RPA Canada offers experienced practitioners a clear opportunity to be recognized in 2026 with confidence, trust, and competency, while strengthening the profession and protecting the public interest.
The future of accounting depends not only on who enters the profession but on how we recognize, regulate, and support those who already serve it.
BUILDING A STRONGER CANADA
RPA Canada’s 47th AGM, National Advocacy & the Launch of Professional Accountant Magazine.
By James Green, RPA, CMA (ANZ)
RPA Canada’s 47th Annual General Meeting brought together policymakers and accounting professionals to advance a unified vision for a barrierfree One Canada Economy. Discussions focused on professional mobility, national consistency, and strengthening support for small and medium-sized enterprises. Shafqat Ali emphasized the importance of collaboration and fairness in sustaining Canada’s economic competitiveness. The AGM concluded with the adoption of a national policy resolution calling for greater clarity, fairness, and accessibility in the accounting profession across Canada.
A Unified Vision for a Barrier-Free One Canada Economy
The 47th Annual General Meeting (AGM) of the Society of Professional Accountants of Canada (RPA Canada) brought together professionals, policymakers, and educators at the Hilton Hotel Meadowvale in Mississauga. The discussion centered on strengthening Canada’s economic future through reduced barriers, professional mobility, and support for small and medium-sized enterprises (SMEs).
As Canada’s oldest national accounting body, founded in 1978, RPA Canada continues to advocate for the SME sector long recognized as the backbone of the national economy. For nearly five decades, RPA Canada has ensured a clear, ethical, and affordable pathway for aspiring accountants while safeguarding public trust.
RPA Canada announced its 2025–2026 Board of Directors: Zubair Choudhry, Paul Brosnan, James Green, Naseem Qadir, Syed Warsi, and Joseph Morgado, a leadership team committed to strengthening national advocacy, fairness, and professional recognition.
MAGAZINE LAUNCH & QMS MANUAL
Launch of Professional Accountant Magazine & Strengthening National Standards.
In celebration of Small Business Week, Minister Shafqat Ali joined President & CEO Zubair Choudhry to unveil the inaugural issue of the quarterly Professional Accountant Magazine a major milestone for Canada’s accounting community.
The publication arrives at a pivotal time. With evolving tax rules, emerging technologies, and increased demand for transparency, the new magazine will serve as a national platform for knowledge-sharing and thought leadership.
RPA Canada also introduced its new Quality Management System (QMS) Manual, effective January 1, 2026, reinforcing the Society’s commitment to public protection and strengthening practice standards for Certified Accounting Practitioners.
The Society acknowledged the dedication of the Professional Practice Committee (PPC) for its extensive work in developing the manual. Guests, including Hon. Shafqat Ali and Sheref Sabawy, MPP, emphasized the critical role of professional accountants in supporting Canada’s economic competitiveness.
Professional Accountant Magazine will connect professionals and business leaders, contributing to the growth and strength of our economy.
Zubair Choudhry
However, regulatory overreach in some provinces has resulted in confusion, restricted career pathways, and reduced access to affordable accounting services especially in smaller jurisdictions.
Reduced Affordability & Access: Higher costs and fewer choices for SMEs.
Conflicts of Interest: Regulatory bodies prioritizing member interests over public protection.
Declining Accounting Enrollments: Fewer students entering the profession due to unclear pathways.
Regulatory Fragmentation: Inconsistent standards across provinces, causing nationwide confusion.
RPA Canada supports a balanced, inclusive, and ethical accounting environment with multiple recognized designations. The Society reaffirms its commitment to: Serving taxpayers and SMBs with competence and integrity Maintaining national standards for non-public accounting practices.
Supporting both domestic and internationally trained professionals.
RPA Canada urges governments to:
Define Public Accounting as audit and assurance services under provincial jurisdiction.
At a time of economic uncertainty and growing global trade challenges under U.S. tariffs, we must stand united to build a strong, barrier-free One Canadian Economy, one that removes obstacles not only to trade but also to trades and professions. Shafqat Ali, MP and Minister of the Treasury Board of Canada.
RPA Canada’s National Policy Resolution: Clarity, Fairness, Accessibility & Public Protection.
A key highlight of the AGM was the approval of a major national policy resolution advocating for clarity, fairness, and inclusivity across the accounting profession. The resolution responds to concerns about protectionist practices by certain provincial CPA bodies, which may limit competition, restrict professional mobility, and increase costs for SMEs.
Founded in 1978 and federally incorporated, RPA Canada has safeguarded public interest for decades through competencybased training and rigorous ethical standards. RPAs have played a crucial role in supporting Canadian taxpayers and SMBs with essential accounting, tax, and advisory services.
Recognize Non-Assurance Services management accounting, taxation, compilation, bookkeeping, advisory as suitable for national or federal oversight.
This clarification would modernize Canada’s accounting system, eliminate barriers, and expand access to affordable services for businesses nationwide.
Public Interest First.
Accessibility & Affordability.
National Consistency. Professional Diversity.
Ethical Accountability. R
NEW MICROSOFT ACCOUNTING SOFTWARE COMING IN 2026:
EVERYTHING YOU NEED TO KNOW.
In 2026, Microsoft Accounting Software (Dynamics 365 Business Central) will undergo a significant evolution with the introduction of new AI-powered tools and enhanced security features. These updates will include:
Expanded AI capabilities: Microsoft software will gain access to advanced AI-powered tools such as Copilot Chat, embedded across key applications including Word, Excel, PowerPoint, Outlook, and OneNote.
Improved security: New security enhancements will be introduced, including stronger email protection and AIdriven threat detection to better safeguard business data.
Advanced management tools: Features such as Intune Remote Help, Advanced Analytics, and Privilege Management will help IT teams manage devices securely and proactively.
Price increases for Microsoft 365: Microsoft 365 plan pricing will increase as follows (USD):
Business Basic: from $6 to $7.
Business Standard: from $12.50 to $14.
Microsoft 365 E3: from $23 to $26.
These updates reflect Microsoft’s commitment to delivering a modern, secure, cloud-based platform that enables businesses to work more efficiently while staying protected in an evolving digital landscape.
Vox ISM hosts over 150 free training webinars annually, attracting more than 5,000 attendees. In addition, Vox delivers Microsoft Copilot training in collaboration with RPA Canada.
One of the most exciting developments for 2026 is the release of the Copilot Accounts Payable (AP) agent in Business Central. This agent automatically posts invoices directly into Business Central, saving up to 50% of AP department time—a major productivity boost. A second agent for Order Entry will automatically post new orders, delivering further time savings and efficiency gains.
If you would like to explore what’s new in accounting software for 2026, Vox ISM offers free online training webinars. Visit Events for December 2025 – VOX ISM for a complete list of upcoming sessions. See you online soon.
Vox ISM is Canada’s largest Microsoft Dynamics Partner, serving more than 500 customers nationwide, with a strong focus on Southern Ontario. What sets Vox ISM apart is its ability to implement the complete Microsoft Business Software Suite, including Business Central for accounting and operations, Microsoft Dynamics CRM for sales, marketing, and customer service, and the Power Platform (Copilot, Power BI, Teams, and SharePoint). R
