The Order, as it presently exists, was created under the name of Corporation professionnelle des comptables en administration industrielle du Québec in 1973, the year in which the Professional Code was adopted. However, its true origins can be traced back to the founding of The Canadian Society of Cost Accountants in 1920, whose most active chapters were in Montreal and Toronto.
From the beginning the Society was involved in the education of accountants, offering accounting and business management courses leading to a certificate. Very quickly the Society realized the importance of establishing eligibility criteria, in order to maintain high standards of competence. Since education is under provincial jurisdiction, the Society began to establish provincial societies, starting in Quebec and Ontario. On March 27, 1941, the Act creating the Cost and Management Institute received royal assent. The Institute was authorized to offer courses, prepare examinations and grant the title of LCMI (Licentiate of the Cost and Management Institute), which a few years later became RIA (Registered Industrial Accountant). To gain recognition for the designation throughout Canada, a similar law was proposed in all the other provinces. In 1948, the CMI became the Society of Industrial Accountants of Quebec. The reason for adopting this new name was to standardize the designations of the various sister societies across Canada.
During the 1970s, members realized that this title identified them exclusively as cost accountants as well as being only in English. Therefore, Québec RIAs began the process of changing their professional title. It was only on April 15, 1987 that this proposal became a reality, when the law created the new title of CMA. This bilingual designation is recognized in all industrialized countries and is much better adapted to the professional skills of those who hold it.
The Order is affiliated with CMA Canada, which represents some 47,000 certified management accountants and candidates to the profession throughout the country.