Accounting history in Canada

Canadian accounting history traces the development of financial recording and reporting practices from early European settlements through modern regulation. Initially influenced by British methods, accounting in Canada evolved with economic growth and the need for standardized practices. Key milestones include the establishment of professional bodies like the Canadian Institute of Chartered Accountants (CICA) in 1908, which set ethical and professional standards. Over time, accounting adapted to changing business needs, technological advances, and regulatory requirements, contributing to transparent financial reporting essential for investors, government, and businesses to make informed decisions.