(Toronto) Chartered Professional Accountants of Canada (CPA Canada) is cutting 20% of its workforce in anticipation of a decision by provincial watchdogs in Ontario and Quebec to separate from the national organization.
The organization, which represents chartered professional accountants across Canada, has approximately 400 employees across the country.
CPA Canada President and CEO Pamela Steer says the impending withdrawal of CPA Ontario and CPA Quebec triggered a review, which resulted in the decision to streamline the organization.
CPA Ontario and CPA Quebec announced in June last year that they would end their agreement with CPA Canada, triggering an 18-month countdown to a split.
In a memo addressed to staff last week and obtained by The Canadian Press, Mme Steer said that despite much discussion and ongoing effort, it has become clear that Ontario and Quebec will not change their current trajectory, meaning they will leave CPA Canada starting in December.
CPA Canada was created in 2013 to unify the various professional accounting organizations and designations.