Who We Are
The Institute of Chartered Accountants of British Columbia (ICABC) is the largest accounting organization in British Columbia, with almost 11,000 members and over 1,800 students*. Established in 1905, the ICABC is also the oldest accounting organization in the province, celebrating its 100th anniversary in 2005.
Our mission is to foster public confidence in the CA profession by acting in the public interest and helping our members excel by providing exceptional education, regulation, and member services programs so that chartered accountants can provide the highest quality of professional services.
In support of this mission, the ICABC is committed to:
The principles of integrity, objectivity, and competence;
Understanding and being responsive and accountable to our public, members, and students;
Providing an atmosphere that attracts the best people and encourages trust;
Teamwork and a personal commitment to excellence;
Encouraging active volunteer participation of members in Institute affairs;
Providing leadership in all aspects of the accountancy profession; and
Being fair, approachable, and timely.
Provincial legislation known as the Accountants (Chartered) Act allows the Institute to train, govern, and regulate its members. All CAs are held accountable by a strictly enforced code of professional conduct and must meet continuing professional development requirements on a yearly basis.
In addition, the ICABC licenses all public practice CA firms and reviews these firms at least once every three years to ensure ongoing compliance with standards and regulations. We also require that CA firms carry professional liability insurance.
If you’re Concerned about a CA’s Conduct, you can file an enquiry with the Institute, and it will be investigated. If it is found that ICABC rules have been breached, sanctions against a CA range—depending on the nature and severity of the problem—from an anonymous reprimand or remedial education to a suspension of membership or loss of the CA designation. The Institute also has a formal Fee Resolution Process for clients who are unhappy with their CA’s bill.
As a self-regulating organization, we put the protection of the public first on our list of priorities. Public representatives serve on our Council and on our regulatory and education committees to ensure that the public perspective is always present and considered.
The ICABC also serves the public interest by reviewing public policy in areas such as business and the economy, and commenting on these areas to the government, the media, and the public. Every year, for example, CAs are asked for their expert assessment of the provincial and federal budgets, and they provide interpretations to help the public understand the process and the consequences of new policies and programs.
The BC Institute also commissions an annual study called the BC Check-Up, which assesses the working, living, and investing climate in our province—thereby providing valuable insights and information for the government, the media, academics, and the general public.
*As of November 2011