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The proposed amendments to the Bylaws, Rules of Professional Conduct and Council Interpretations of the Rules for 2009 will be voted on at the Annual General Meeting on June 16, 2009.
FIRST BYLAW OF 2009
Explanatory Note:
The Foreword to the Rules of Professional Conduct has been amended to align the fundamental principles of ethics underlying the rules of professional conduct more closely with their description in the Code of Ethics of the International Federation of Accountants (“IFAC”). This helps to facilitate convergence of the Canadian rules of professional conduct with the IFAC Code in accordance with the CA profession’s membership obligation to IFAC. Further, the amendments to the Foreword clarify that “objectivity” is one of the fundamental principles of ethics that underlie the rules of professional conduct. Before 2003 and the adoption of the current Rule 204 (Independence), the term “objectivity” was used by the Canadian CA profession to refer to what is known internationally as “independence”. The amended Foreword also notes that the public expects that those practising in the profession will bring objectivity to their professional services.
(End of First Bylaw of 2009)
- Click here for a clean copy showing the proposed final wording of the First Bylaw of 2009.
SECOND BYLAW OF 2009
Explanatory Note:
Rule of Professional Conduct 204.8 (Disclosure of Impaired Independence) is amended by replacing the word “influence” with the word “activity” to remove an inconsistency in the wording of the rule. The related Council Interpretation is amended to specifically provide that disclosure of an impairment of independence is not required in a compilation report when the impairment results from the preparation of books, records and journal entries for the client. Disclosure of impaired independence may still be required where the preparation of the books, records and journal entries involves complex transactions as contemplated by paragraph 143 of the Council interpretations to Rules 204.1 to 204.6.
(End of Second Bylaw of 2009)
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THIRD BYLAW OF 2009
Explanatory Note:
Rules of Professional Conduct 217.1 (Advertising and promotion) and 217.3 (Endorsements) are amended to remove the references to the vague and subjective requirement that advertising not contravene “professional good taste”, while retaining the requirement that advertising must not be false or misleading or make unfavourable reflections on the competence or integrity of the profession or any member or firm. The related Council Interpretations have been amended to maintain consistency with the rules.
(End of Third Bylaw of 2009)
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FOURTH BYLAW OF 2009
Explanatory Note:
Bylaw 302 (2) is amended for housekeeping matters. The previous reference to “competence to practise public accounting” has been updated with language that reflects the new practical experience requirements and an outdated reference to the “Uniform Final Examination” has been updated.
(End of the Fourth Bylaw of 2009)
(End of bylaws of 2009)
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May 17, 2010
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