Canadian accounting bodies

In Canada, there are three recognized accounting bodies. CA (Canadian Institute of Chartered Accountants) is the oldest and the largest, followed by CGA (Certified General Accountants Association of Canada), and CMA (Society of Management Accountants of Canada). CA and CGA were established by Act of Parliament; CMA was established by the Company Act. The CA designation issued by the Institutes of Chartered Accountants of Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, and Ontario is recognized as a CPA (chartered Public Accountant) designation in the USA.
Auditing rights are regulated by provincial governments. In British Columbia, the Company Act provides that only CAs, CGAs, or anyone who has been granted an accounting licence by the provincial regulatory body may audit public companies. In Prince Edward Island, only qualified CAs and CGAs can perform public accounting and auditing in accordance with the Public Accounting and Auditing Act. In all other provinces, except Quebec, only qualified CAs, CGAs, and CMAs may audit public companies.
Due to political reasons, historically Quebec and Ontario only allowed CAs to audit public companies. However, CGAs and CMAs can audit a selected list of public bodies in Quebec. In 2004, Ontario government authorized qualified CAs, CGAs, and CMAs to audit public companies, subject to improved professional standards to be applied equally to all three accounting bodies.
In Quebec, the situation is currently under review and challenge based on the Agreement of Internal Trade (AIT). In August 2005, the AIT issued a report recommending Quebec to change its legislation by opening public auditing to qualified accountants who are not CAs.
The size of the accounting bodies varies across Canada. In Ontario and Quebec, CA is substantially bigger than CGA or CMA. In Manitoba, CGA is the largest accounting body, whereas in British Columbia, CA and CGA are about the same size.
In the federal level, all statutes provide equal recognition of all three accounting bodies. Given that most Canadian provinces and statutes provide equitable treatments to CAs, CGAs, and CMAs, the "Canadian Chartered Accountant equivalents" are CGA and CMA.