Last January, faculty and students of the professional accounting diploma program were notified that the program would be suspended this September.
Dave Donaldson, dean of the School of Business, explained the program’s suspension is due to changes in the field of accounting.
“It hasn’t been cut, it’s been replaced,” said Donaldson. “We’re replacing it in winter ’17, the next semester, with a graduate certificate in financial accounting.”
Canada’s three former professional designations, the Canadian Institute of Chartered Accountants (CA), Certified General Accountants Association of Canada (CGA) and Certified Management Accountants of Canada (CMA) have been replaced by the Chartered Professional Accountant (CPA) designation since late 2014.
CA and CMA designations had degree entry requirements but CGA designations were earned through combinations of college and university courses, resulting in a university degree.
“The challenge with the professional accounting program was it was based on the CGA,” said Donaldson.
“We had some concerns about it because there wasn’t really a good exit requirement for students who wanted to come in who were originally planning on getting their CGA,” he said.
Donaldson explained how the new program will include courses which will help students gain an Advanced Certificate in Accounting and Finance (ACAF).
According to the CPA’s website, an ACAF is designed to provide, “job-ready skills that employers across the country value within the accounting and finance functions of their businesses,” although the fact that it is a certificate and not a designation is clearly stated.
Donaldson said that current students will have the opportunity to complete the program should they fail any classes during this or the next term.
“If we’ve got any students who haven’t completed the professional accounting program and want to continue in the program then we’ve got a couple of faculty who are looking at substituted courses that would get them their designation,” said Donaldson.
“Normally, when we suspend a course we do have an obligation to make sure that students who want to graduate can graduate through that course.”