MBiz

23 WINTER 2024 The guidelines for the redesign are contained in the Competency Map 2.0 (CM 2.0), which lays out the steps for future certification with high-level visioning of core compe- tencies and attributes. "Some of it is technical skills like knowledge of financial accounting and knowledge of management accounting, some of it is soft skills like leadership and communication, and some of it relates to attributes like an ethical mindset," Tucker says. The New Certification Program (NCP) (cpaleadstheway.ca) builds out from CM 2.0. "CM 2.0 is designed to reflect the changing landscape of the accounting profession and will reflect workplace expectations and requirements. It will set a reason- able expectation on the volume of knowledge, skills, attributes and competencies that can be learned and assessed," says Yuen Ip, MBA, CPA, CMA, PMP, ICD.D, CEO of the CPA Western School of Business. "The NCP will be more flexible, adaptable, innovative and future- oriented to meet evolving market demands and candidates' needs. Similar to the current certifica- tion program, candidates will be equipped with the knowledge and skills to succeed in whatever roles and opportunities they pursue." Tucker says technology is one area where new CPAs will gain important knowledge, ensuring competency in areas such as data analysis, artificial intelligence, ma- chine learning, Internet of Things, connectivity and auditing in a block- chain environment. "In Canada, we now have sustain- ability standards tied to things like ESG, which is non-financial data. This includes greenhouse gas emis- sions, for example, beginning to be reported on financial statements," Tucker says. "It's an expanding field, but accountants are there right now because the sustainability standards are going to be modelled after accounting standards." Value creation is another area to be added. "Value creation is identifying those places where you add strong value to a process in the value chain that is worth something to an individual or an organization or business. An example might be of- fering related workshops in addition to the work being done," she says. Accountants will also learn to spot participants who take money out of the value chain without add- ing value to the end result. This is known as "rent-taking." "An example of this might be a consulting firm that hires other consultants, who do the work while the firm collects the money. If the firm is not adding anything special to that process, it is considered a rent taker," Tucker says. "Accounting students are be- ing trained to identify where value exists, how to price it and how to account for it." The CPA profession is also looking at changes to examination delivery and program completion timelines. The standards for entry into the program will remain the same. "We are looking to implement a more streamlined admissions process that takes into account people applying to our program from different countries (interna- tional students) and those people at different stages of their learning journey such as mid-career ap- plicants looking to change fields," Tucker says. Another goal is to shorten the overall time to completion, with most timeline improvements being made in the admissions and quali- fying phase of the program. Those already on the path or looking to start their accounting education are encouraged to stick with their program or plan. Kathy Zaplitny, CPA, CA, is the senior director of stakeholder services and engagement at CPA Manitoba. She will be the lead on the implementation of the program in Manitoba. "We are actively working on implementation details and will ensure that there are pathways for everyone to enter and exit the pro- gram during the transition period," Zaplitny says. "Our goal is to support every stu- dent throughout the transition and ensure no one is left behind." Like most transformations, even with careful planning, there will be some bumps in the road. "As CPAs with strengths in finan- cial management, strategic planning and leadership, we are well-pre- pared to navigate and adapt to any obstacles that arise," Zaplitny says. "Rest assured, the NCP is de- signed to provide the knowledge and experience needed to excel in a rapidly changing business environment." Tucker says anticipation is high around the 2027 launch of the New Certification Program. "We're excited to make the profession more attractive and to continue our legacy of producing high-quality professionals to sup- port the Canadian economy." We're excited to make the profession more attractive and to continue our legacy of producing high-quality professionals to support the Canadian economy." – Geeta Tucker, FCPA, FCMA, president and CEO of CPA Manitoba "

• Cover