Professional Corporations
PLEASE NOTE: Having a registered Professional Corporation does not register you in public accounting and does not allow you to offer accounting services to the public.
CGA Members who are registered as a public accounting firm may offer services to the public by registering as a CGA Professional Corporation (PC). This is a business decision usually made for limiting liability that allows members to practice through a PC as opposed to a sole proprietorship or partnership. A PC offers its shareholders limited liability in certain areas. Generally, a shareholder is liable for the debts and liabilities of the corporation to the extent of his or her investment.
A PC resembles a business corporation. In Alberta, the Regulated Accounting Professional Act (RAPA) Division 3 allows a CGA member to incorporate a PC. All directors must be members of CGA Alberta. Once incorporated, a CGA PC must comply with ongoing registration requirements with the Association and with the Alberta Government.
Original documentation (including Articles of Incorporation and Schedules, Application Form and Statement of Particulars) must be approved by the Association before they are submitted for filing with Corporate Registry. To apply, see sample documentation: Incorporating a CGA Professional Corporation (includes revised schedules allowing non-voting shareholders, as of March 1, 2010). To access and print a clean copy of Form REG3047, Acrobat Reader 6.0 or higher is required. Please allow 30 days for processing of your application.
- Registering a CGA Professional Corporation does not register you in public accounting.
- Students enrolled in the CGA Program of Professional Studies are NOT allowed to incorporate a CGA professional corporation.
To name a CGA PC, refer to R510 Name of Firm, of the Code of Ethical Principles and Rules of Conduct.
Examples with only one director/shareholder:
- John Smith Professional Corporation
- J. Smith Professional Corporation
- Smith Professional Corporation
- John Smith CGA Professional Corporation
Examples with more than one director/shareholder:
- Smith and Brown Professional Corporation
- Smith Brown Professional Corporation
- S & B Professional Corporation
Other related topics:
Amending a CGA Professional Corporation (revised March 1, 2010)
Amending the Shareholders of a CGA Professional Corporation (revised March 1, 2010)
Reviving a CGA Professional Corporation
When a CGA Professional Corporation dissolves and/or is no longer active, member must:
- Amend the PC to an Alberta Corporation by filing the "Articles of Amendment", or
- Dissolve the PC.
To dissolve a PC with the Alberta Government you will need to file the "Articles of Dissolution" through a law firm, search house or other accredited user under the Alberta CORES system for filing with Corporate Registry. When a Certificate of Dissolution is issued, a copy must be sent to CGA Alberta, Public Accounting Manager to ensure records are updated.
