A CPA may cease or de-register their professional accounting firm (PAF) registration at any time. To do so, please complete the Professional Accounting Firm (PAF) De-registration form, and submit the form to PAF@cpaalberta.ca.
Please note: most professional liability insurance (PLI) policies are written on a 'claims-made' basis. This means the insurance policy only provides coverage for claims while the insurance is in force. If a claim is made after a policy lapses (despite having PLI in place when the work was performed), the insurance coverage is not provided.
Accordingly, CPA Bylaw 802 mandates that every designated CPA of a PAF that ceases a practice must ensure that the PAF, or its successor, carries professional liability insurance for at least six (6) years following the closure.
Additionally, ceasing your professional accounting firm (PAF) registration does not end your professional corporation (PC) registration. These are two separate registration entities and require two separate processes. For more information on ceasing or de-registering your Professional Corporation (PC) with CPA Alberta, please click here.