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About the CICA The CICA is a not-for-profit entity incorporated by a Special Act of the Canadian Parliament in 1902. The CICA mandate is contained in the Canadian Institute of Chartered Accountants Act, its act of incorporation, which was last amended in May 1990. The CICA works in collaboration with the Provincial Institutes/Ordre to ensure that the profession is well positioned to respond to the challenges and capitalize on the opportunities presented in today’s marketplace.It executes its strategy through supporting the setting of accounting, auditing and assurance standards for business, not-for-profit organizations and government; developing and delivering pre- and post-qualification education programs; providing a range of member services and professional literature;research and development of intellectual property; issuing guidance on risk management and governance; and fostering relationships with key stakeholders nationally and internationally.
Governance
CICA’s activities are overseen by a Board of Directors comprised of 12 members, including the Chair and Vice Chair; two representatives from each of four geographic regions – Ontario, Québec, the Western region and the Eastern region; and two public directors who are not chartered accountants. Appointment of regional directors is the responsibility of the appointing regions. Appointments of the incoming Chair and Vice Chair, and the Public Directors are made by the Selection Council, whose members are the elected first officers of the Institutes/Ordre; the Chair and Vice Chair of the Board of Directors and two members appointed from the general membership by the CICA Board. To assist it in its role, the Board hasan Audit Committee, Corporate Governance Committee, and Human Resources and Compensation Committee, comprised of members of the Board. Responsibility for the functions that are common to all the Institutes/Ordre and critical to the success of the Canadian CA profession are shared among the Institutes/Ordre and the CICA. The current governance structure for the CA profession was formalized with the signing of the 2006 Protocol agreement by all of the Institutes/Ordre that comprised the CA profession on May 23, 2006. The Protocol assigned the role of management of the CA profession to the Council of Senior Executives (CSE) with oversight responsibility vesting in the CICA Board of Directors. The common critical functions of strategic planning, protection of the public and ethics, communications, and education and qualification are managed by the CSE. Standard setting support is provided by the CICA. |
