CPA Canada cuts 20% of workforce in countdown to split with Ontario and Quebec
TORONTO — Chartered Professional Accountants of Canada is cutting 20 per cent of its workforce ahead of a move by provincial oversight bodies in Ontario and Quebec to split from the national organization.
The organization, which represents chartered professional accountants across Canada, had about 400 employees across the country before the cuts.
CPA Ontario and the Quebec CPA Order announced in June last year they would be exiting their agreement with CPACanada, triggering an 18-month countdown to a split.
CPA Canada chief executive Pamela Steer said that Ontario and Quebec’s pending withdrawal triggered a review, which resulted in the decision to streamline the organization “in order to position CPA Canada for long-term sustainability.”
In a memo to staff last week that was obtained by The Canadian Press, Steer said despite many discussions and ongoing efforts, it has become clear that Ontario and Quebec will not change their current path, which means they will leave CPA Canada as of December.
“The impending withdrawals of CPA Ontario and CPA Quebec leave us in a challenging operating environment,” Steer wrote in the memo.
“After sober reflection on future needs, it became clear that organizational changes are needed to ensure the long-term success of a CPA Canada that best serves members and the profession.”
Before the two organizations announced their departure, CPA Canada had been undergoing a governance review over the past five years. But the Quebec CPA Order and CPA Ontario had been stuck on certain key governance-related issues with the national organization.
“Our differences are not trivial matters. They are fundamental differences on fundamental issues,” said Carol Wilding, chief executive of CPA Ontario, in
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