Canadian Government Debt Crisis....., but where is the Solution?

As we all know that "Canadian Government Debt" is more than $1.8 trillion across Canada, and if we do not work collaboratively, our country could face severe debt crisis that could lead into recession within 3 to 5 years or sooner.

The Chartered Tax Practitioner and Certified Public Finance Accountants of Canada, is the only professional accountancy body in Canada exclusively dedicated to promoting and delivering high quality PFM education in Canada, and we believe that lack of PFM knowledge and support leads to inflation and rise in taxes, and by boosting PFM in our community, we can easily mobilize revenue, allocate public funds, under take public spending, account for funds and audit results by using efficient management or resources, and exercising controls on spending to reduce the "Canadian Government Debt Crisis", which is somewhere around CAD1.8 trillion across Federal and Provincial governments in Canada.

The Chartered Tax Practitioner and Certified Public Finance Accountants of Canada, (CTP-CPFA Canada) Joint Program enables students to become a member of the Chartered Tax Practitioner and Certified Public Finance Accountants of Canada in three to four years provided they have undertaken relevant professional work experience after completion of post-secondary prerequisites and a four-year undergraduate degree upon entry, and leads to a rigorous post-graduate credential with dual-designation in PFM and Taxation, and candidates who successfully complete these programs will receive two prestigious qualifications with dual designations from the CTP-CPFA Canada.

Our institute is also an examining body, and members are required to pass examinations and other assessments, and must have relevant work experience prior to describing themselves as "Chartered Tax Practitioner and Certified Public Finance Accountants". All CTPs and CPFAs are subject to high professional and ethical standards, and governed by the fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behavior. In order to attain CTP-CPFA standard, a tax practitioner and PFM accountant must pass rigorous examinations demonstrating a high level of technical knowledge of tax and public finance system, and an understanding of the high standards of ethical and professional conduct required of them.

In order to retain CTP-CPFA standard, one must demonstrate commitment to their ongoing duty to maintain their professional knowledge and skills. This includes keeping up to date with all developments in the tax and public finance system in the areas in which they practice. CTPs and CPFAs are supported in this and monitored to ensure they fulfill their commitments, by their membership of a respected professional body plus there is a robust and independent disciplinary structure in place in the event of a client feeling their CTP-CPFA member has failed to meet these high professional standards.

The right to designate CTPs and CPFAs are held by the Chartered Tax Practitioner of Canada (CTP) and Certified Public Finance Accountants of Canada (CPFA) by virtue of its Federal Charter, awarded by the Federal Government of Canada in 2016, and the members of CTP-CPFA Canada are entitled to style themselves as Chartered Tax Practitioner of Canada (CTP) and Certified Public Finance Accountants of Canada, and use designatory letters CTP and CPFA in Public Finance Management and Taxation. CTP-CPFA Board is responsible for standards-setting, accreditation and the continuing professional development of CTPs and CPFAs in Canada.

We strive to strength the PFM in the best possible shape to deliver advance, effective, efficient public service for the citizens of Canada by providing leaders, managers and donors with holistic model of measures and controls to promote wise spending, tackle fraud and corruption, ensure good governance and support economic growth while strengthening financial resilience under the Federal and Provincial Government Regulations Act for the prosperity of our country and for the advancement of our community.

We further believe that the accounting profession holds a significant position within our community as trusted advisers, and the work of a professional body is not about becoming one of the world's largest national accounting bodies around the world, it is and it should always be about the prosperity of our country, adding values to our society, and assisting our country grow debt free. We need to forget our differences and learn to get along to tackle fraud and corruption, ensure good governance and support, economic growth and financial resilience for the prosperity of our country and for the sole benefit of our society, where "Canada Comes First".