A new Canadian accounting and business organization, Chartered Professional Accountants of Canada, officially became operational Monday.

CPA Canada was created from the combination of two legacy groups -- the Canadian Institute of Chartered Accountants, and the Society of Management Accountants of Canada -- whose assets and operations were officially transferred to the new group on Monday. The combination was announced in January. (See “Canadian Accounting Bodies Plan Unification.”)

“We are operational and helping to unite accounting professionals with shared values, diverse skills, exceptional talents, and innovative thinking –all driven by a commitmentto excellence in their field,” said CPA Canada president and CEO Kevin Dancey, FCPA, FCA, in a statement.

The group also unveiled its new logo, and announced that one of its priorities will be developing a certification program for the Chartered Professional Accountant designation.

Currently, accounting bodies representing 85 per cent of Canada’s professional accountants are committed to unification or have already merged under the CPA banner, according to the group.