CPA New Brunswick has three tiers of Public Practice Permits.
Definitions
Public Practice means “those tasks, services, and functions, as may be prescribed, performed by a CPA, and offered to or provided to the public,” whether on a full-time or part-time basis, alone or in partnership with others, in respect of any one or more of the following:
- performing an audit engagement and issuing an auditor’s report;
- performing any other assurance engagement and issuing an assurance report;
- a compilation, including a compilation of a financial forecast or projection, prepared while performing an external engagement service and the compilation communication is required as set out in the compilation engagement section(s) of the CPA Canada Handbook – Assurance;
- accounting, insofar as it involves analysis, advice and interpretation in an expert capacity, but excluding record keeping; and
- taxation, insofar as it involves advice and counseling in an expert capacity, but excluding mechanical processing of returns.”
Public Practice Permit or Permit means an authorization granted to a partner or other individual responsible for the performance of public practice services, including audit, review, compilation or other regulated services engagement, and for the report that is issued on behalf of the firm, and who, where required, has the appropriate authority from a professional, legal or regulatory body.
Tier 1 Permit means an authorization granted to a partner or other individual responsible for the performance of audit, review, compilation or other regulated services engagement, and for the report that is issued on behalf of the firm, and who, where required, has the appropriate authority from a professional, legal or regulatory body.
Tier 2 Permit means an authorization granted to a partner or other individual responsible for the performance of review, compilation or other regulated services engagement, and for the report that is issued on behalf of the firm, and who, where required, has the appropriate authority from a professional, legal or regulatory body.
Tier 3 Permit means an authorization granted to a partner or other individual responsible for the performance of compilation or other regulated services engagement, and for the report that is issued on behalf of the firm, and who, where required, has the appropriate authority from a professional, legal or regulatory body.
Other regulated services mean providing analysis, advice and interpretation in an expert capacity in accounting and taxation.
Practice Leaders means “a member authorized by the Act, By-Laws, and Policies for a Public Practice or other regulated services and includes the Office of the Auditor General of New Brunswick and Office of the Auditor General of Canada and employees in those offices.”
Public Practice Permit Holder means a member with a public practice permit authorized to provide public practice services through the province of New Brunswick because the eligibility requirements have been met.
Non-resident members are members who maintain their prime membership with other provinces other than CPA New Brunswick. Such members pay their CPA national and provincial fees to another provincial body.
Prime means where members pay their CPA national fees. Members who primarily live and work in New Brunswick are required to pay their CPA national fees in New Brunswick.
The application requirements below apply to CPAs whose prime province is New Brunswick and who intend to provide public practice services in New Brunswick. Section 5 applies to application requirements for non-resident members.
1. Application requirements for initial Public Practice permit
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General
CPA must be in good standing, i.e., pay all required fees, fulfil CPD requirements to date, and have met other obligations as a member.
Education & Examination
Professional Education Examinations (PEP)
Successful completion of the PEP education modules related to assurance and taxation electives and an approved national final examination (i.e., CFE, UFE, CGA, CMA). In the case of successful completion of the CFE, the applicant must demonstrate depth in financial reporting and assurance.
If the above modules are not completed as a part of the certification program, CPA is required to successfully complete the Post-Designation Public Accounting (PDPA) program and examination.
Legacy Equivalent
CA – CA education program
CGA – PA1, AU2 and Tax 2
CMA – Audit I, Audit II, Tax I, Tax II, and Tax III
Additional Education Requirements
CPAs who successfully completed the assurance and taxation electives (or PDPA examination) more than five years before applying for a public practice permit are required to take additional verifiable continuing professional development (CPD) specific to competencies related to the type of required permit over the past three-year rolling cycle.
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Experience
Duration
24 months of full-time qualifying experience within the most recent five-year period. Qualifying experience must be gained through a Pre-Approved Program Route office (PPR) registered in external audit with CPA New Brunswick OR in exceptional circumstances, most recent five (5) years (up to the date of application) of continuous full-time qualifying experience in a public practice registered to provide audit engagements.
Assurance Hours
For the duration noted above, complete not less than 1,250 assurance hours within the past immediate five (5) years which may include experience gained during certification. Of the 1250 hours, a minimum of 625 hours must be obtained in the audit of historical financial information.
Determination of satisfactory and acceptable assurance and audit hours will be made by the Registrar.
Attestation
A written attestation from a Canadian CPA holding an equivalent permit as the applicant.
The CPA will attest that the applicant’s experience is satisfactory to qualify them for the required permit.
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General
CPA must be in good standing, i.e., pay all required fees, fulfil CPD requirements to date, and have met other obligations as a member.
Education & Examination
Professional Education Examinations (PEP)
Successful completion of the PEP education modules related to assurance and taxation electives and an approved national final examination (i.e., CFE, UFE, CGA, CMA). In the case of successful completion of the CFE, the applicant must demonstrate depth in financial reporting and assurance.
If the above modules are not completed as a part of the certification program, CPA is required to successfully complete the Post-Designation Public Accounting (PDPA) program and examination.
Legacy Equivalent
CA – CA education program
CGA – PA1, AU2 and Tax 2
CMA – Audit I, Audit II, Tax I, Tax II, and Tax III
Additional Education Requirements
CPAs who successfully completed the assurance and taxation electives (or PDPA examination) more than five years before applying for a public practice permit are required to take additional verifiable continuing professional development (CPD) specific to competencies related to the type of required permit over the past three-year rolling cycle.
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Experience
Duration
24 months of full-time qualifying experience within the most recent five-year period.
Qualifying experience must be gained through a Pre-Approved Program Route office (PPR) registered in review and/or external audit with CPA New Brunswick OR in exceptional circumstances, most recent five (5) years (up to the date of application) of continuous full-time qualifying experience in a public practice registered to provide review and/or audit engagements.
Assurance Hours
For the duration noted above, complete not less than 1,250 assurance hours within the past immediate five (5) years which may include experience gained during certification. Of the 1250 hours, a minimum of 625 hours must be obtained in providing assurance of historical financial information.
Determination of satisfactory and acceptable assurance hours will be made by the Registrar.
Attestation
A written attestation from a Canadian CPA holding an equivalent permit as the applicant.
The CPA will attest that the applicant’s experience is satisfactory to qualify them for the required permit.
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General
CPA must be in good standing, i.e., pay all required fees, fulfil CPD requirements to date, and have met other obligations as a member.
Education & Examination
Professional Education Examinations (PEP)
Successful completion of the taxation elective and an approved national final examination (i.e. CFE, UFE, CGA, CMA). In the case of successful completion of the CFE, the applicant must demonstrate depth in financial reporting.
If the above module is not completed as a part of the certification program, CPA is required to successfully complete the Post-Designation Public Accounting (PDPA) Taxation program and examination. Alternatively, take and pass a
taxation course approved by CPA New Brunswick if the Member has not successfully completed an approved taxation course in the preceding five-year period.
The above educational and examination criteria apply where the member will be providing compilation and tax services.
Legacy Equivalent
CA – CA education program
CGA – PA1 and Tax 2
CMA –Tax I, Tax II, and Tax III
Additional Education Requirements
Take additional verifiable continuing professional development (CPD) specific to competencies related to the type of permit over the past three year rolling cycle.
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Experience
Duration
24 months of full-time qualifying experience within the most recent five-year period.
Qualifying experience must be gained through the Pre-Approved Program Route office (PPR) registered with CPA New Brunswick to provide any public practice services OR through the experience verification route within the last five years in a firm registered to provide any public practice services.
Compilation Hours/Engagements
For the duration noted above, complete not less than 625 compilation hours within the past immediate five (5) years or substantially complete (i.e., up to the point of being ready for review on a pre-release basis) fifteen (15) eligible compilation engagements within the immediate past five (5) years which may include engagements completed during certification.
Substantially completing audits or reviews of historical financial information are acceptable as compilation engagements. Completion of other relevant financial reporting work may be considered a compilation engagement.
Determination of satisfactory and acceptable compilation engagements will be made by the Registrar.
Attestation
For compilation, a written attestation from a Canadian CPA holding an assurance or compilation permit. The CPA will attest that the applicant’s experience is satisfactory to qualify them for the required permit.
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2. Application requirements for annual Public Practice permit renewal
CPA New Brunswick public practice permit holders must renew their permits annually. To renew a CPA New Brunswick public practice permit, a CPA must complete the annual permit renewal application and pay the required fee. A member must meet the following criteria to apply for an annual permit renewal:
a) Complete the annual membership renewal and be in good standing; and
b) Practiced in the specific area of public practice that they are renewing their permit for in the past immediate five (5) years. Members will be required to report hours completed during the annual renewal process; and
c) Have undertaken verifiable CPD, specific to competencies related to the type of permit being renewed, over the past three-year rolling cycle. For Tier 1 permit (Audit level), must have complied with the requirements of IES 8 applicable to Engagement Partners Responsible for Audits of Financial Statements.; and
d) Provide any additional information requested by CPA New Brunswick.
Failure to renew a permit will result in the expiration of the permit.
3. Restriction, suspension, or cancellation of a permit
A CPA may request in writing to CPA New Brunswick that their permit be cancelled or transitioned to a lower category. A CPA may also allow their permit to expire when they do not complete the annual permit renewal.
4. Application for re-entry to Public Practice
A CPA applying for a permit to provide public practice services in New Brunswick after five (5) or more years without a CPA public practice permit from any Canadian province or a permit in a specific area must meet all the criteria under the application requirements for an initial public practice permit.
5. Application requirements for non-resident members to apply for CPA New Brunswick Public Practice permit
CPAs providing public practice services to clients in New Brunswick and having the responsibility and authority or will sign off on such engagements will be required to obtain a CPA New Brunswick public practice permit. The tier of the permit will depend on the type of services provided. This also applies to CPAs with prime membership in a province other than New Brunswick (Non-resident Members).
6. Application requirements for non-resident members
a) CPA will initially apply to become a non-resident member of CPA New Brunswick. This membership is subject to the CPA being a member in good standing in their prime province. CPA will be required to renew their non-resident membership with CPA New Brunswick annually.
b) Upon successful application as a non-resident member, CPA can apply for a CPA New Brunswick public practice permit. The CPA New Brunswick permit will be contingent upon the CPA having an equivalent permit/licence in their prime province. Any restrictions on the CPA permit/licence in the prime province will also apply to the CPA New Brunswick permit.
c) Payment of full fees – Annual non-resident membership fee and public practice permit fee, and other applicable fees as may be decided by the Board.
d) Continuity of permit/license is subject to annual renewal and confirmation of permit/license status from the prime province.
e) Any other required documentation by CPA New Brunswick.
To apply
Please download and complete the Public Practice permit application form to apply.