In this article, we will talk about the accounting profession and help you understand how to validate your education and experience to work as a Professional Accountant in Canada. It is important to mention that anyone who is not a permanent resident or Canadian citizen, must have a work permit to be able to work in the country legally.<\/p>\n\n\n\n
Canada\u2019s growing economy and constant participation in its globalization creates the perfect scenario for creating new jobs in the financial sector, making accountants a high demand profession in the country. Most job opportunities for accountants in Canada are located in the biggest cities like Toronto, Montreal <\/strong>and Vancouver<\/strong>. A professional accountant has a starting salary of CAD$ 33 000\/year and could reach a salary of CAD$ 87 500\/year with years of experience.<\/p>\n\n\n\n In Canada, occupations can fall into two types: non-regulated<\/strong> and regulated<\/strong>. For non-regulated occupations, a license or certification is not required, like, for example, in most IT occupations. For regulated occupations, a license or certification is required to work, and in this case, the license or certification will be issued by the provincial or territorial regulatory authority responsible for the occupation. Most healthcare and engineering occupations are regulated, among many others.<\/p>\n\n\n\n Accounting is a regulated occupation in Canada and, to work as an accountant, professionals will need to get their education and experience assessed by the regulatory accounting body in the province or territory they intend to work. Professionals can only practice when they have completed their application process with the regulatory body and have become a Contador Profissional Credenciado <\/strong>ou Chartered Professional Accountant category<\/em> (CPA<\/em>)<\/strong>.<\/p>\n\n\n\n CPA Canada<\/em><\/strong><\/a> is the national organization that oversees and supports all the provincial and territorial accounting bodies in Canada. Recently, CPA Canada<\/em> unified all categories in the accounting profession (Chartered Accountant \u2013 CA, Certified Management Accountant \u2013 CMA and Certified General Accountant \u2013 CGM)<\/em> into the Chartered Professional Accountant category<\/em>. All the accounting bodies for those categories were also unified into the CPA regulatory body of each province and territory.<\/p>\n\n\n\n \u25cf CPA Alberta<\/a> In 2018, CPA Canada<\/em> Canada created agreements with some international bodies where it can provide exemption to education and examination requirements. These agreements are known as MRA<\/strong> (Mutual Recognition Agreement<\/em>), RMA<\/strong> (Reciprocal Membership Agreement<\/em>) and MOU <\/strong>(Memorandums of Understanding<\/em>). These agreements are available for professionals that are fully qualified in their home regulatory body in the following countries: United States, France, Mexico, Australia, New Zealand, United Kingdom, Ireland, Scotland, South Africa, Zimbabwe, India and Pakistan.<\/p>\n\n\n\n Professionals from countries that are not part of the agreements, but are members of bodies recognized by the Federa\u00e7\u00e3o Internacional de Contadores (<\/em><\/strong>International Federation of Accountants<\/em><\/strong><\/a> (IFA)<\/em><\/strong>, will have to apply for the certification program<\/strong> with the regulatory accounting body in the province or territory they intend to work. The accounting body will assess their education and experience individually and determine which path the candidates will have to take.<\/p>\n\n\n\n Os profissionais brasileiros que s\u00e3o registrados no Conselho Federal de Contabilidade do Brasil<\/strong> ou no Instituto dos Auditores Independentes do Brasil<\/strong> se enquadram nessa situa\u00e7\u00e3o e ter\u00e3o que se inscrever junto ao \u00f3rg\u00e3o regulador de contabilidade no Canad\u00e1 para ter sua forma\u00e7\u00e3o e experi\u00eancia individualmente avaliadas. O \u00f3rg\u00e3o determinar\u00e1 o caminho que os candidatos dever\u00e3o seguir para concluir o programa de certifica\u00e7\u00e3o.<\/p>\n\n\n\n Professionals that are members of bodies not recognized by the IFA, will have to complete some prerequisite courses, before applying for the certification program.<\/p>\n\n\n\n The certification program is done through the provincial and territorial CPAs, and is composed of:<\/p>\n\n\n\n \u25cf Academic preparation<\/strong> (Professional Education Program – PEP<\/em><\/a>) The complete the certification program<\/strong> is about 2.5 years<\/strong>, but professionals have the maximum of 7 years<\/strong> to complete the entire program. The cost of the certification program is about CAD$ 12 000.<\/p>\n\n\n\n When applying for the certification program, candidates are required to submit documents<\/strong> to prove their education and experience. That can also help with some exemption during the certification program. All documents must be in English or French, if applying in New Brunswick, French if applying in Quebec and in English if you are applying in any other province or territory.<\/p>\n\n\n\n The required documents are:<\/p>\n\n\n\n \u25cf A detailed resume<\/strong>including employment and education history The PEP<\/em> consists of six modules<\/strong> where the candidates will enhance their knowledge about the accounting profession. Parts of this program are delivered as online and self-study format. Some of the subjects candidates will learn are: financial reporting, strategy and governance, management accounting, audit and assurance, finance <\/strong>and taxation.<\/strong>The last module will focus on the preparation for the Common Final Examination<\/em>Candidates have a maximum of six years to complete this program.<\/p>\n\n\n\n The CFE<\/em> is a three-day examination<\/strong> in which candidates will be evaluated on their accounting knowledge acquired during the PEP. There are three papers to be written over the three days:<\/p>\n\n\n\n \u25cf On day 1: a five-hour paper<\/strong> consisting of a single comprehensive business simulation The CFE must be attended and written in person at a CPA testing centre in Canada. This exam is offered twice a year, in May<\/strong> and September<\/strong>.<\/p>\n\n\n\n In addition to PEP<\/em> and CFE<\/em>to earn the CPA certification CPA<\/em>, candidates must complete the requirements for practical experience. Generally, they will need a minimum of 30 months<\/strong> of supervised professional accounting experience. There are two routes<\/strong> through which candidates can obtain their practical experience requirements (could be either route, or a combination of both):<\/p>\n\n\n\n \u25cf CPA pre-approved programs (PPR): CPA<\/em><\/strong> (pre-approved programs – PPR<\/em>candidates will gain experience in training positions pre-approved by the CPA.<\/em> In both routes, there are five common elements<\/strong> that the CPA will require:<\/p>\n\n\n\n \u25cf Gain of relevant experience<\/strong> as a professional accountant in a minimum of 30 months Although no official language assessment is required for the certification program, candidates are expected to have a high level of English or French language proficiency and understanding. It is strongly recommended that candidates have a Canadian Language Benchmark<\/em><\/strong> (CLB<\/a>) of at least Level 8<\/strong> in reading, writing, comprehension and listening at the time of enrolment, and at least Level 10 upon completion of the program.<\/p>\n\n\n\nCPA Provincial And Territorial Accounting Bodies<\/strong><\/h2>\n\n\n\n
\u25cf<\/strong> CPA British Columbia<\/a>
\u25cf<\/strong> CPA Manitoba<\/a>
\u25cf<\/strong> CPA New Brunswick<\/a>
\u25cf<\/strong> CPA Newfoundland and Labrador<\/a>
\u25cf<\/strong> CPA Northwest Territories and Nunavut<\/a>
\u25cf<\/strong> CPA Nova Scotia<\/a>
\u25cf<\/strong> CPA Ontario<\/a>
\u25cf<\/strong> CPA Prince Edward Island<\/a>
\u25cf<\/strong> CPA Quebec<\/a>
\u25cf<\/strong> CPA Saskatchewan<\/a>
\u25cf<\/strong> CPA Yukon<\/a><\/strong>
<\/p>\n\n\n\nThe CPA Certification Program CPA<\/em><\/strong><\/h2>\n\n\n\n
\u25cf Examination<\/strong> (Common Final Examination – CFE<\/em><\/a>)
\u25cf Practical experience evaluation<\/strong> (Practical Experience Requirements – PER<\/em><\/a>) <\/p>\n\n\n\n
\u25cf A letter of good standing<\/strong> sent directly from the home accounting organization, confirming the membership and the date when became a member
\u25cf A transcript<\/strong> sent directly from the home accounting organization indicating when a qualifying exam was completed for the accounting designation
\u25cf A academic education evaluation <\/strong>(ou academic education evaluation)<\/em> sent directly from an evaluating organization. An academic evaluation is done to verify that a foreign degree, diploma, or certificate is valid and equivalent to a Canadian one. These are some of the organizations approved by the CPA for the evaluation: World Education Service (WES)<\/a>, International Credential Evaluation Service (ICES)<\/a> and International Qualification Assessment Service (IQAS)<\/a>.<\/p>\n\n\n\nProfessional Education Program (PEP)<\/strong><\/em><\/h3>\n\n\n\n
Common Final Examination (CFE)<\/strong><\/em><\/h3>\n\n\n\n
\u25cf On days 2 and 3: one four-hour paper<\/strong> each day, that will consist of more than two multi-subject simulations<\/p>\n\n\n\nPractical Experience Requirements (PER)<\/strong><\/em><\/h3>\n\n\n\n
\u25cf Experience verification (EVR)<\/strong> (experience verification – EVR<\/em>: candidates demonstrate relevant experience at an employer of their choice <\/p>\n\n\n\n
\u25cf The experience is supervised<\/strong>
\u25cf The candidate must record detailed reports<\/strong> at regular intervals
\u25cf The candidate must meet and discuss<\/strong> the progress<\/strong> at least semi-annually with a CPA mentor
\u25cf The experience is assessed<\/strong> by the CPA<\/p>\n\n\n\nLanguage Requirement<\/strong><\/h2>\n\n\n\n
Resources<\/strong><\/h2>\n\n\n\n