19 (1) CPA Ontario’s council shall establish and maintain public accounting standards in accordance with this section. 2021, c. 4, Sched. 7, s. 8. Same (2) The public accounting standards shall reflect the public interest in the delivery of superior-quality public accounting services, and be no less rigorous than the standards made under this section as they existed immediately before section 8 of Schedule 7 to the Accelerating Access to Justice Act, 2021 came into force. 2021, c. 4, Sched. 7, s. 8. Same (3) The public accounting standards shall include standards relating to, (a) post-secondary education requirements that are necessary for a public accounting training program, including requirements in respect of courses that are relevant to public accounting; (b) pre-licensing education and study requirements that are supplementary to the post-secondary education requirements; (c) pre-licensing experience requirements; (d) examinations used for licensing public accountants; (e) requirements for post-licensing professional experience; (f) mandatory continuing professional development; (g) practice inspections of public accountants; (h) requirements on the use of generally accepted accounting principles and generally accepted assurance standards; (i) rules of professional conduct; (j) discipline procedures, including rights to a hearing and rights of appeal; (k) rules governing issuing a new licence to a former licensee; (l) rules governing the licensing of persons who are permitted to practise as public accountants in other jurisdictions; (m) mandatory professional liability insurance; and (n) any prescribed matter. 2021, c. 4, Sched. 7, s. 8. Prior approval by Minister (4) Before adopting or modifying a public accounting standard, CPA Ontario’s council shall submit it to the Minister. 2021, c. 4, Sched. 7, s. 8. Same (5) A public accounting standard submitted to the Minister may only be adopted or modified if the Minister does not, within 45 days of its submission, provide to CPA Ontario’s council a written objection to the adoption or modification. 2021, c. 4, Sched. 7, s. 8. Publication (6) CPA Ontario’s council shall make the public accounting standards publicly accessible by publishing them on its website or otherwise making them available in electronic format. 2021, c. 4, Sched. 7, s. 8. Transition (7) The standards made under this section as they existed immediately before section 8 of Schedule 7 to the Accelerating Access to Justice Act, 2021 came into force continue to apply, subject to the modifications specified in subsection (8) and any other necessary modifications, as public accounting standards for the purposes of this Act until they are replaced by CPA Ontario’s council. 2021, c. 4, Sched. 7, s. 8. Same (8) For the purposes of subsection (7), (a) references in the standards to The Public Accountants Council for the Province of Ontario shall be read as references to CPA Ontario; (b) references in the standards to a designated body or to an authorized designated body shall be read as references to CPA Ontario; and (c) despite clauses (a) and (b), any provision or other portion of the standards that is contrary or inconsistent with the amendments made to this Act by Schedule 7 to the Accelerating Access to Justice Act, 2021 does not continue to apply, or continues only with such modifications as the context requires. 2021, c. 4, Sched. 7, s. 8. Section Amendments with date in force (d/m/y) 2006, c. 21, Sched. F, s. 125 - 01/11/2005 2017, c. 8, Sched. 3, s. 77 (3, 4) - 17/05/2017 2021, c. 4, Sched. 7, s. 8 - 30/04/2021