In October, CPA Alberta’s CEO, Rachel Miller FCPA, FCA, embarked on a province-wide roadshow to connect with members. The tour spanned five cities: Lethbridge, Grande Prairie, Edmonton, Red Deer, and Calgary, offering a unique opportunity for members to hear directly from CPA Alberta’s leader about the profession’s future.
The comprehensive update included a national overview and a chance for members to ask questions. Engagement from local members was notable, with a special mention of the local Chapters that play a key role in fostering these connections. Rachel encouraged members to attend Chapter events, which are held monthly and provide excellent networking and professional development opportunities.
For those who weren’t able to attend the CEO Connect Tour, a recording of the Calgary session is available on our website:
Foundations of CPA Alberta
Members were reminded that CPA Alberta was established through legislation in the province, as outlined in the Chartered Professional Accountants Act and other governing documents. Our legislative mandate is to protect the public interest, uphold the profession’s integrity, enhance the competency of CPAs, and regulate the conduct of our registrants.
Key insights on the profession’s growth and demographics
Rachel highlighted several significant statistics about the state of the CPA profession in Alberta. As of September, Alberta boasts almost 32,000 CPAs, steadily increasing by nearly 18% since the profession unified in 2015. This growth underscores the profession’s ability to meet the demands of a dynamic market.
CPAs in Alberta work across diverse sectors, with over half employed in industry, including oil and gas, natural resources, finance, banking, agriculture, and construction. Public practice also remains a major sector. The profession continues to evolve, with those in their first decade since earning their designations and those under 40 being the most significant representation. This demographic provides a solid foundation for leadership in the coming years while allowing experienced CPAs to step back from the workplace when ready.
Regarding location, most Alberta CPAs work in the two major cities, with over half residing in Calgary. The profession has also become more diverse, with gender balance approaching parity and increasing ethnic diversity, reflecting Alberta’s growing multiculturalism.
Addressing future demand and recruitment initiatives
Looking ahead, Rachel emphasized the growing demand for CPAs, particularly in smaller centres. The recent Labour Market Study conducted with our colleagues at CPA Saskatchewan and CPA Manitoba revealed that Alberta will need approximately 1,000 new CPAs annually over the next three to five years to meet market needs: 300 to replace those leaving the workforce, 600 to accommodate Alberta’s population growth and another 100 to meet other demand factors, including existing supply gaps, economic growth, and ESG- and technology-related demands.
CPA Alberta’s recruitment efforts continue to deliver results. Over the past five years, an average of more than 750 individuals annually have successfully completed the profession’s Common Final Examination, providing a substantial share of the growth needed to meet labour market demand. Alberta also attracts new professionals from across Canada and internationally due to our approach of assessing and recognizing international qualifications.
Interest in the profession remains high, and there is strong participation in events targeting high school students, post-secondary students, working professionals, and internationally educated individuals. Notably, CPA Alberta has seen a significant rise in the number of attendees at recruitment events, including a record 600 students attending the Meet Your Employer event in Calgary, aimed at post-secondary students in the late stages of earning their degrees.
We have also built strong relationships with post-secondary partners across the province to keep the CPA career path top of mind for faculty and staff. The number of accounting graduates from these institutions has remained steady in recent years, and with many business schools planning to expand their enrollment, this number is expected to grow. These educational institutions require resources and tools to equip students with the competencies essential for success as they embark on the path to the CPA designation. The CPA Education Foundation continues to play a crucial role in supporting post-secondary partners and the next generation of CPAs, with up to $1.2 million allocated annually in grants and scholarships. Scholarships provide financial support to those who may otherwise not be able to access higher-level education and help in the recruitment of a diverse range of new students to the profession.
Modernizing the CPA Certification Program
A key development highlighted was the ongoing modernization of the CPA Certification Program, the first significant update since unification in 2015. The new program, expected to be available in early 2027, will include updated learning outcomes, practical experience components, and a rigorous summative assessment. The changes aim to keep the program relevant to the profession’s evolving needs while maintaining high standards across Canada.
National collaboration and governance updates
The profession is navigating changes nationally, with CPA Ontario and CPA Quebec giving notice they are leaving the national Collaboration Accord with CPA Canada. Rachel assured members that this will not affect Alberta’s mandate or the ability to practice across the country. CPA Alberta is engaged in discussions to ensure national mobility and collaborative work continues.
Closer to home, the Government of Alberta is introducing the Professional Governance Act, which will streamline legislation governing various professional regulatory organizations, including CPA Alberta. While full details are not yet available, Rachel assured members that the changes would not significantly impact day-to-day operations or the profession’s core mandate.
A profession ready for the future
Rachel reiterated the importance of staying connected and engaged with the profession, especially as it adapts to new challenges and opportunities. With strong growth, diverse members, and ongoing investments in education and recruitment, the CPA profession in Alberta is well-positioned for continued success in the years ahead.
Stay tuned for further updates as the profession navigates these changes and continues to thrive!
Thank you to all who attended the 2024 CEO Connect Tour.
