Register a Professional Corporation with CPA Ontario
A professional corporation is a corporation owned and operated by one or more members of the same profession. The shareholders of a professional corporation registered with CPA Ontario can be:
- one or more members of CPA Ontario
- other professional corporations registered as firms with CPA Ontario
- both CPA Ontario members and registered professional corporations
Do you also require a public accounting licence (PAL)?
You will require a PAL from CPA Ontario if you practice public accounting and are the lead engagement person responsible for signing reports or statements issued or primarily produced in Ontario. Find out more on requirements and how to apply.
Obtain a Certificate of Authorization (COA)
If you wish to engage in the practice of public accounting through your professional corporation, you will be required to obtain a Certificate of Authorization (COA).
To obtain a COA, at least one shareholder of the professional corporation must hold a current public accounting licence or apply for a public accounting licence. However, if a professional corporation is a partner or shareholder in a firm and any statement/report is issued under that firm, a COA may not be required.
To apply, go to My Portal, select Firm Dashboard ► Select Firm to choose the appropriate firm ► Applications ► Start New Application ► Certificate of Authorization (COA) Application.
Applications are usually processed within three to five weeks of the date of receipt.
Extra-provincial registration of a professional corporation providing services in Ontario
A professional corporation must register as a firm with CPA Ontario if they’re based outside of Ontario and provide public accounting services in Ontario. Please contact us for further information.
How to apply for extra-provincial registration
Register with CPA Ontario by logging in to My Portal and selecting Obligations and Requests ► Applications ► Start New Application ►Firm Registration.
Professional Corporations FAQs
However, if the professional corporation is responsible for an assurance engagement and the engagement opinion, statement or report is signed by the professional corporation, then the professional corporation has taken the role of the lead engagement person. In that case, a shareholder of the professional corporation would need to individually hold a public accounting licence. In addition, the professional corporation would be required to hold a Certificate of Authorization.