by Pamela Steer, president and CEO
As 2025 begins, accounting finds itself at a pivotal juncture, shaped by rapid advancement in AI and an increasing emphasis on sustainability.
This year, the Canadian profession faced challenges and opportunities from both internal and external forces. CPA Canada has been evolving on both fronts – working to maintain a unified national profession and ensuring that CPAs across Canada have the tools they need to navigate technological, economic and regulatory shifts.
Amid these changes, CPA Canada’s commitment to providing value and support to CPAs across the country is stronger than ever. We have developed valuable resources to help CPAs adapt to these emerging trends, ensuring that every Canadian CPA has access to the tools and insights needed to thrive today and in the future.
Our work to support CPAs in Ontario and Quebec exemplifies this commitment. As their provincial regulators withdraw from the national body on 20 December, we have taken steps to ensure they continue to access the resources, guidance and community that define our profession. By introducing a new offering for CPAs in Ontario and Quebec to join CPA Canada, we are ensuring that all Canadian CPAs have the ability to stay connected to their national body and continue their professional development.
Partnerships with our international colleagues are a key part of our efforts to guide CPAs in this transforming landscape. For example, this year we partnered with the American Institute of CPAs to launch a whitepaper series providing CPAs with insights into the risks and opportunities presented by AI and to bring Canadian CPAs new courses in the application of AI.
Additionally, through collaborations with innovative technology providers, such as our new partnership with Canada’s AI- powered tax solution Blue J, we have enabled CPAs to integrate cutting-edge AI tools into their practices. By adopting generative AI solutions, CPAs can achieve unprecedented research efficiency, navigate complex tax landscapes and deliver increased value to their clients.
These initiatives reflect our ongoing commitment to equipping CPAs with the knowledge and resources to lead responsibly in a rapidly changing technological landscape.
Sustainability is also quickly becoming an integral part of the profession, as CPAs play a key role in shaping a more environmentally sound and accountable future. The regulatory and reporting landscape in Canada has shifted significantly this year, with the release of the first final standards from the Canadian Sustainability Standards Board, anti-greenwashing legislation and sustainability assurance requirements all coming into play.
In response to these changes, CPA Canada is taking a proactive stance. Through our capacity-building partnership with the International Sustainability Standards Board, we are helping CPAs and other interested parties navigate new obligations. Our focus is on ensuring that trust and transparency remain the cornerstones of sustainability reporting and the implementation of Canada’s first Sustainability Disclosure Standards marks a new era for the profession, one that highlights the leadership potential of Canadian CPAs in this critical area.
CPA Canada has also worked to advance policies and frameworks that promote accountability, such as our response to new anti-greenwashing measures in Canada’s Competition Act. By engaging with international partners, we are helping CPAs stay ahead of evolving regulation and ensuring they are prepared to meet the growing demand for robust and reliable sustainability reporting.
Beyond the realm of sustainability and AI, 2025 is expected to bring significant changes in tax policy and economic shifts, such as deregulation trends at state level in the US. These developments will have far-reaching implications, especially given the deep economic ties between Canada and the US.
Domestically, CPA Canada remains a trusted voice on key issues such as housing, clean economy, tax credits and capital gains. Our strong relationships with the Canada Revenue Agency and the federal Department of Finance reflect our ongoing commitment to addressing complex tax matters and ensuring CPAs remain trusted advisors to both businesses and governments. In an increasingly complex regulatory environment, Canadian CPAs are well positioned to navigate these challenges and contribute to sound public policy.
As risks such as financial crime, cybersecurity and money laundering evolve, Canadian CPAs are uniquely positioned to mitigate their impacts. Recent updates to Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime, including new reporting requirements for suspected sanction evasion, underscore the growing need for CPAs to stay ahead of regulatory changes. Whether managing organisational risk or advising clients, CPAs play a pivotal role in safeguarding the financial system and society as a whole.
As president and CEO of one of the world’s most influential accounting organisations, I am honoured to represent a profession that consistently rises to meet the challenges of a quickly changing global landscape. CPA Canada supports the profession and represents Canadian CPAs at both national and international levels. Together, we are driving meaningful change and reinforcing the value of CPAs everywhere.
Attracting and retaining new talent remains a critical priority in our profession as it faces pipeline challenges that could impact our ability to meet the evolving needs of businesses and society. To address this, CPA Canada is rethinking education programs and qualification requirements with an emphasis on incorporating new learnings into pre-certification education. We are working to reshape the narrative around what CPAs do – highlighting their credibility as drivers of innovation, sustainability and business strategy – to inspire the next generation of accounting professionals.
