Providing Service to the Public The practice of professional accounting consists of: Audit engagements Review engagements Other Assurance engagements, and Providing Financial Reporting advice which references the CPA Canada Handbook. In order for a firm to be licensed to provide one or more components of the practice of professional accounting, it must have a practice leader who is a licensed member. A practice leader is any member who has authority to sign reports or provide opinions or certifications on behalf of the firm. Member Licence A member must complete the following steps to become licensed: Make an application using a CPA Saskatchewan Board approved form, which will require evidence that the member has: Successfully completed the CPA Post Designation Public Accounting (PDPA) Program, if the member obtained their designation through a non-assurance professional education path, Completed the practical experience requirements as established in the Rules (Board Rules 353.2 and 353.3), Completed, within the last five years, practical experience which included the practice of professional accounting for a period of two years under the direction of a licensed member, Achieved the minimum verifiable continuing professional development hours specific to the practice of professional accounting (Board Rules 353.5 and 353.6), Completed an assessment of competency in the practice of professional accounting. The competency assessment is a certification from another licensed member, with whom the applicant is or was under the supervision of for the last five years, Detailed the services being provided to the public, Signed a declaration of conduct, and Provided an acknowledgement of the Rules. Pay fees of $250 + GST for initial application. To be considered, applications shall be fully completed. Applications which are not complete shall be returned to the applicant. An individual who is engaged in the practice of professional accounting and provides evidence of registration in good standing equivalent to a professional accountant pursuant to the legislation of another jurisdiction in Canada and is subsequently registered with the Institute as a member will be issued a licence. Firm Licence A firm must complete the following steps to become licensed: Make an application using a CPA Saskatchewan Board approved form, which will require: Providing information on each licensed member, Detailing the services being provided to the public, Signing a declaration of conduct by each practice leader in Saskatchewan, and Acknowledging of the Rules. Pay fees of $100 + GST for initial application. Provide evidence of Professional Liability Insurance. (A firm cannot proceed with an application of insurance unless its firm name has been approved – see step 1). Evidence of insurance coverage must be filed with the Institute within 30 days of registration. To be considered, applications shall be fully completed. Applications which are not complete shall be returned to the applicant. Renewal A licence renews annually on a calendar year basis (i.e. December 31). Application for renewal is required for both members and firms. A licensed member has to provide evidence annually that during the last year: The practical experience requirements to practice in a category of professional accounting have been completed, The minimum verifiable hours of professional development courses specific to the practice of professional accounting have been taken, and A self-assessment of competency is completed and another licensed member certified the competency in the practice of professional accounting. A licensed firm has to provide evidence annually that during the last year that each of its licensed members remain qualified in the firms’ declared areas of service. Professional Corporations and Limited Liability Partnerships A member or firm may provide services to the public through a professional corporation or a Limited Liability Partnership (LLP) as long as the professional corporation or LLP is registered with the Institute in accordance with The Professional Corporations Act, The Partnership Act and rules made in accordance with these Acts. Firm name The name of a firm cannot be misleading or contravene professional good taste. The name or descriptive style of the firm may include “chartered professional accountant” or “professional accountant” where at least eighty percent (80%) of the proprietary interest of the firm is held by one or more members. For information on use of the logo, please contact CPA Saskatchewan. Professional Liability Insurance Firms must have professional liability insurance under Regulatory Bylaw 24.1. The requirements for insurance vary depending on the service provided to the public, as follows: For firms engaged in the practice of professional accounting, compilation engagements or taxation services, the following are the minimum requirements based on Rule 330.1 and 355.1: $1,000,000, where one (1) member is engaged or employed in one or any of professional accounting, compilation engagements or taxation services; $1,500,000, where two (2) or three (3) members are engaged or employed in one or any of professional accounting, compilation engagements or taxation services in the same firm; or $2,000,000, where four (4) or more members are engaged or employed one or any of professional accounting, compilation engagements or taxation services in the same firm. For firms not engaged in the practice of one or any of professional accounting, compilation engagements or taxation services, the minimum requirement for professional liability insurance is $250,000 per practice leader. Licensed firms operating in multiple locations in Saskatchewan An application shall be filed for each municipal location of the firm. A firm shall not hold out or imply that it has an office in any place where it is only represented by another professional accountant or a firm of professional accountants. Licensed firms operating in other jurisdictions in Canada A member who is registered as a firm with an equivalent professional accountant body pursuant to legislation in Canada is required to register when the members of the firm or the firm are using the CPA or equivalent within the province of Saskatchewan (signing a report within the province of Saskatchewan). For questions on whether having Saskatchewan clients requires licensing please contact email@example.com. Exemptions Exemptions from licensing are outlined in subsection 18(3) of the Act. The exemptions from licensing apply to: a registrant under the direct supervision and control of a licensed member; an employee in relation to services provided to his or her employer or in his or her capacity as an employee of an employer that is not a firm; a person providing advice based directly on a declaration, certification or opinion of a licensed member; a person providing a service for no gain and without hope of reward; a person performing a service for academic research or teaching purposes and not for the purpose of providing advice to a particular person; a person acting pursuant to the authority of any other Act. A member shall submit a declaration regarding eligibility for exemption annually (or as a change occurs). In addition to stating why the member is exempt, the member must also agree that professional services are not advertised, marketed or otherwise promoted to the public other than by an application for employment. Candidate Training A firm shall apply to the Board for approval of one or more training positions prior to offering employment to a candidate. The application shall be in a form approved by the Board. The Board may, in its discretion, waive the use of the form in special cases. For more information on training CPA Candidates, please contact CPA Saskatchewan. Licence Issued A licence issued to a member or firm will specify the approved category or categories of the practice of professional accounting, specify the conditions of the licence as set out in the Rules and be signed by the Registrar. Every licence shall remain the property of the Institute and the Institute may demand the immediate return of the licence when the registration or licence of a member or firm is resigned, suspended, or cancelled. For further information please contact firstname.lastname@example.org.