Registering as a Firm

A CPA, or group of CPAs, shall register a firm prior to providing service to the public. Services that would require registration as a firm include: assurance, tax advice or management accounting.

Providing Service to the Public

A member, or group of members, shall register a firm PRIOR to providing service to the public. The service to the public can be in one or both forms:

  1. The practice of professional accounting (defined in Section 18 of the Act) and consists of:
    • Audit engagements
    • Other Assurance engagements, including Review Engagements
    • Providing Financial Reporting advice which references the CPA Canada Handbook.
  2. Other regulated services (defined in Regulatory Bylaw 2.1(y)) which does not include the practice of professional accounting and consists of:
    • Bankruptcy and Insolvency Trusteeship or Administration;
    • Business Valuation;
    • Compilation Engagements (also known as Notice to Reader Engagements);
    • Engagement Quality Control Reviews;
    • Forensic Accounting;
    • Management Accounting; and
    • Taxation Services (which means providing advice or interpretation with respect to taxation matters).

NOTE: Pursuant to subsection 20(4) of the Act, a member or firm practicing professional accounting shall apply also for a licence in accordance with Bylaws 25.2, 25.3 or 26.1. 

Firm Registration

A member or group of members must complete the following steps to register a firm:

  1. Obtain approval of the firm name from the Registrar.
  2. Apply in a CPA Saskatchewan Board approved form, which will require:
    • Detailing the services being provided to the public, including:
      • A firm roster of members and candidate providing services to the public,
      • Evidence of competence in the sub-categories of practice proposed,
      • Information about who will be the primary contact for Institute communication.
    • Signing a declaration of conduct by each practice leader in Saskatchewan, and
    • Acknowledging the Institute Rules.
  3. Pay fees.
  4. 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.

Applications for registration as a firm may be provided to the Registrar between April 1 and February 28 (February 29 in a leap year) of each fiscal year. Applications received between March 1 and March 31 are deemed to be received on the following April 1.

To be considered, applications shall be fully completed. Applications which are not complete shall be returned to the applicant.

Conditions, which are mutually agreed upon, may be placed on a firm’s registration.

Please contact the Registrar to request an application form. 

Professional Corporations and Limited Liability Partnerships

A 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 shall be 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 CPA Saskatchewan 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 both 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 both 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 both of professional accounting, compilation engagements or taxation services in the same firm.

For firms not engaged in the practice of one or both of professional accounting, compilation engagements or taxation services, the minimum requirement for professional liability insurance is $250,000 per practice leader.

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.

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 registration please contact the Registrar.

To register, those members and firms must:

  1. Apply in a CPA Saskatchewan Board approved form, which will require:
    • Detailing the services being provided to the public, including:
      • A firm roster of members and candidate providing services to the public,
      • Evidence of competence in the sub-categories of practice proposed,
      • Information about who the primary contact for Institute communication will be.
    • Signing of a declaration of conduct,
    • Providing the date of registration of the firm with the equivalent professional accountant body,
    • Obtaining a letter of good standing from the professional accountant body, and
    • Acknowledging the Institute Rules.
  2. Pay fees to CPA Saskatchewan and CPA Canada.

Please contact the Registrar to request an application form.

Exemptions

A member providing other regulated services qualifies for an exemption from registration of a firm when the service provided is:

  • to three (3) or fewer clients;
  • as an officer or director in a volunteer capacity; or
  • to or through a registered firm.

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.

A member engaged in the practice of professional accounting or providing professional services is only exempted from registration and licensing of a firm where the member is providing services through a firm that is currently registered or licensed.

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.

Permit

A permit will be issued to each firm that will specify the approved category or categories of practice and be signed by the Registrar.  Any conditions, as mutually agreed, on the firm’s permit will also be displayed.

If a firm resigns, is suspended or is cancelled, the firm permit has to be returned to the Institute.

For further information about firm registration please contact the Registrar.