TORONTO, June 8, 2015 /CNW/ - Chartered Professional Accountants of Canada (CPA Canada) and the Korean Institute of Certified Public Accountants (KICPA) are strengthening their working relationship with a Memorandum of Cooperation (MOC) officially being announced today.
This enhanced spirit of cooperation is motivated in part by the recent implementation of the Canada-Korea Free Trade Agreement. Both organizations support the agreement and believe the accounting profession can play a positive role in business relations between the two countries.
"Both our organizations share the view that a robust profession is critical to the development of prosperous economies," says Kevin Dancey, president and CEO, CPA Canada. "With this memorandum, we are formalizing our close ties and positioning our respective professions to embark on future collaborative endeavours in areas of mutual interest."
For nearly two decades, the Canadian and Korean accounting professions have enjoyed an extremely cordial relationship.
"Avenues for greater collaboration will include the exchange of staff, documents and joint research, so that we can learn from each other and build solid ties between our two organizations," says Sungwon Kang, president of KICPA. "The MOC clearly demonstrates a commitment to greater cooperation and to a stronger profession globally."
Among the areas of joint interest are:
Both organizations work to protect the public interest by ensuring its members and professional firms meet rigorous professional standards.
For more information, visit: cpacanada.ca/KoreaMOC
About CPA Canada
Canada's accounting profession is uniting under a new single designation, Chartered Professional Accountant (CPA). The profession's national body, Chartered Professional Accountants of Canada (CPA Canada), represents and supports more than 190,000 members across the country. CPAs are valued for their financial and tax expertise, strategic thinking, business insight, management skills and leadership. CPA Canada has consolidated the operations of three national accounting bodies: The Canadian Institute of Chartered Accountants, the Certified General Accountants Association of Canada and The Society of Management Accountants of Canada. CPA Canada conducts research into current and emerging business issues and supports the setting of accounting, auditing and assurance standards for business, not-for-profit organizations and government. It also issues guidance on control and governance, publishes professional literature and develops certification and continuing education programs.
KICPA was established in 1954 in accordance with the CPA Act. As the single largest organization for accounting professionals in Korea, KICPA has a membership of approximately 18,000 from 141 accounting firms as well as numerous public institutions and corporations. The primary purpose of KICPA is to heighten morality, improve and develop the functions of CPAs, and instruct and supervise its members. KICPA's role has since evolved to include a much wider scope of objectives and activities: government-delegated tasks for public advocacy; standard-setting; IPD/CPD; research and education and others.
SOURCE CPA Canada