Frequently Asked Questions (FAQ)

Below is a list of questions that are frequently asked by CPA members as they decide whether to form a professional corporation. The information provided is general in nature and you are encouraged to obtain legal advice or other specialists’ opinions.

1) Do I need to include “Chartered Professional Accountant” or “CPA” in the name of the Professional Corporation (PC)?

PCs registered with CPA New Brunswick are not required to use (nor is it recommended that they use) “Chartered Professional Accountant(s)” or the initials “CPA” as part of the registered PC name.

However, if the professional corporation is practicing public accounting, the name must be in compliance with By-Laws 17.03 & 19.05 and in that particular case must include “Chartered Professional Accountant” or “CPA” in the name of the PC.

2) Does the term “Professional Corporation” need to be in the name?

The name of the Professional Corporation must include the words “Professional Corporation” according to By-Law 19.05.

3) Should or can the name of my professional corporation be approved by CPA New Brunswick before I submit my application?

It is recommended that the name of the professional corporation be approved by CPA New Brunswick prior to submission of the PC Application, to avoid rework and added expense. Please ensure that your name meets the requirements set forth in By-Law 19.05.

A request must be submitted in writing to info@cpanewbrunswick.ca.

4) I have a Public Practice already registered and I am looking to incorporate a professional corporation. As a sole practitioner, must my public practice name now be amended to reflect the name of my professional corporation?

Yes, as a sole practitioner with a registered professional corporation, the name of your public practice must be that of your professional corporation. Otherwise, it is viewed as misleading to the public.

5) What is the licence fee for maintaining a professional corporation with CPA New Brunswick?

The licence fee for maintaining a professional corporation registration with CPA New Brunswick is currently set to $100 + HST for the current year. This fee will be reflected on your member fees invoice yearly.

6) I want to cease the registration of my existing professional corporation. What do I need to do with CPA New Brunswick?

A member may cease or dissolve his/her professional corporation at any time. To do so, written notification must be provided, including the name of the professional corporation and the date of cessation.

A certificate of dissolution must be sent to CPA New Brunswick once the dissolution has been completed with Corporate Registry (Service New Brunswick).