Institute Of Chartered Accountant: A Regulatory Body
The Institute of Chartered Accountant of Canada is a not-for-profit, privately held organization that primarily aims to develop the Generally Accepted Accounting Principles in Canada for general interest of public. The organization carries on research of present business issues and provides support to the setting of auditing, accounting as well as assurance standards for government, business and not-for-profit organizations. Besides this, the organization issues guidance about governance and control, develops continuous educational programs and publishes quality literature. Moreover, the organization also acts as a representative of Chartered Accountancy as a profession on national as well as international scale.
The Institute of Chartered Accountant works in collaboration with the institutes operating in states or provinces. Moreover, the organization attempts to make sure that profession of Chartered Accountancy is suitably positioned for responding to the challenges and utilizing the professional opportunities presented by the market. The strategy of the organization is executed through its support in setting the standards and through development as well as delivery of educational programs. Besides this, the organization also provides an extensive variety of professional literature as well as member services. In addition, the organization also conducts research as well as development of intellectual property, helps in building relationships with important stakeholders both at national as well as international levels. Above all, the organization issues guidance about governance and risk management principles.
The mission of Institute of Chartered Accountant is to promote the confidence reposed by public in Chartered Accountancy as a profession. This is done by providing help to the members and acting in interest of the common people. The institute provides leadership to maintain pre-eminence, standards as well as integrity of the Chartered Accountants. The task is accomplished by improving the credibility as well as quality of financial and other useful information which is produced as well as utilized in public and private sectors for measurement and improvement of organizational performance.
In general, the Chartered Accountants are introduced to this profession through the respective Ordre/Provincial Institutes. The bodies are responsible for creation as well as administration of qualification processes, performance criteria as well as admission criteria within the jurisdictions.