All aboard...Twenty-five years ago, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. undertook an initiative to create a uniform standard for public accountancy. Today, 48 out of 55 states and territories have adopted the model proposed. In the last few years, against this backdrop south of the border, the Canadian CA profession has been looking at the need for internationally recognized uniform public accounting legislation in Canada. In the last five years, Ontario and Quebec both invested- significantly and successfully in the implementation of internationally recognized uniform public accounting legislation. With well over half of the Canadian population already following uniform legislation, it's clear that a legislative train is heading toward BC. This train picked up speed on July 18, 2008, when Canadian premiers met at the Council of the Federation meeting in Québec City and agreed to amend the Agreement on Internal Trade (AIT) by January 1, 2009. These amendments will provide that any worker certified for an occupation by a regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities of one province or territory will be recognized as qualified to practice that occupation by all other provinces and territories. The premiers also directed that any exceptions to full labour-market mobility be clearly identified and justified as necessary to meet a legitimate objective, such as the protection of public safety. By the 2009 summer meeting of the Council of the Federation, these amendments will have resulted in mutual recognition of occupational credentials across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. . For CAs, the amended AIT will be no big deal as professionals, we all have full reciprocity reciprocity In international trade, the granting of mutual concessions on tariffs, quotas, or other commercial restrictions. Reciprocity implies that these concessions are neither intended nor expected to be generalized to other countries with which the contracting parties across the country. The same, however, is not true for public accounting, as most provinces have some distance to go to reach the internationally recognized standards used in Ontario and Quebec. Under the amended AIT, Ontario and Quebec will be calling on other provinces, including BC, to follow their lead. In the January 2008 issue of Beyond Numbers, I shared our Council's position on uniform public accounting legislation, saying that we believe a modern, uniform approach to public accounting is needed to guarantee the protection of the public. I don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. what the BC government will make of all this, but I know we'll be talking about this issue a lot more in the months to come, as the profession considers how best to achieve this goal. © 2008 Institute of Chartered Accountants char·tered accountant n. Chiefly British Abbr. CA A member of one of the institutes of accountants granted a royal charter. of British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography Provided by ProQuest LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . All Rights Reserved. 
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