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The Governing Documents of the Institute of Chartered Accountants of Alberta (ICAA) include all documents that provide authority for the Institute to regulate chartered accountants and all documents that give chartered accountants authority or responsibilities.
They include the Regulated Accounting Profession Act, the Chartered Accountants Regulation under RAPA, the Council Resolutions and the Rules of Professional Conduct to Related Guidelines.
The Regulated Accounting Profession Act, proclaimed on September 13, 2001, authorizes the Institute of Chartered Accountants of Alberta, the Society of Management Accountants of Alberta and the Certified General Accountants’ Association of Alberta to regulate their members and public accounting firms. The Act requires that only public accounting firms registered under the Act can perform audit or review engagements. The Act sets out common registration, practice review, complaint review, discipline and appeal processes for the three accounting organizations.
Regulated Accounting Profession Act
The Chartered Accountants Regulation under the Regulated Accounting Profession Act is approved in principle by the ICAA Council and members, but only comes into force once it has been approved by the Lieutenant Governor in Council. RAPA sets out what matters must be dealt with by regulation and are generally public interest matters over which the government wishes to maintain direct oversight.
Chartered Accountants Regulation
The Bylaws under RAPA are approved by the ICAA Council but must be ratified by members before the next annual general meeting to stay in force. RAPA sets out what matters must be dealt with by bylaw and includes matters related to governance, standards and regulation of registrants.
The Rules of Professional Conduct are approved by Council but do not come into effect until they have been ratified by members prior to the next annual meeting. The rules address ethical standards which are aimed, first and foremost, at protection of the public and second, at achieving orderly and courteous conduct within the profession. The rules apply to all registrants. Some rules apply specifically to registrants engaged in a public accounting practice. Certain rules apply to public accounting firms.
Council has approved Guidelines which give guidance in interpreting the Rules of Professional Conduct.
Combined Rules and Guidelines
The Council Resolutions under RAPA are approved by the ICAA council. They deal with any matter not required to be dealt with in regulations, bylaws, practice standards or the Rules of Professional Conduct. This is a living document which changes frequently.
If you wish to obtain Council resolutions regarding any matter for a specified timeframe, contact Susan Rockwood at firstname.lastname@example.org.
This document provides details on the national independence standards.
Guide to Canadian Independence Standards
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