For INDIAN CHARTERED ACCOUNTANTS

[b2c]

For Indian Chartered Accountants to enhance qualifications for the Canadian market there are three options i.e, CMA, CGA and CICA. These three institutes give credits of some courses to the members of ICAI.

Before filing the application to either of these Institutes , I just wanted to take opinions of other Chartered Accountants on the forum to know which course we should opt and why?

Based on the information available on the websites of these institutes, I am of the opinion that we should go for CGA for the following reasons;

- It gives more credits than CICA
- It takes shorter time to complete the course
- There is no training requirements as it is of 3 years for CICA and
- Practically, there is no difference between CICA and CGA in Canada.


Please share your views as it will help all of us.

Thanks & regards

 

[penpal]

Hi,

Congrats on getting your visa.
Yes, i also think that CGA would be the best option for indian trained CAs,simply b'cse of the exemptions due to the advanced standing recognition between the two insitutes.I heard even CICA is moving towards towards mutual recognition.
Where do you intend to land.
Once you land ,pls keep us posted on the developments which would be of immense help to future immigrants like us.
All the best.

Thanks

 

[b2c]

Hi,

Congrats on getting your visa.
Yes, i also think that CGA would be the best option for indian trained CAs,simply b'cse of the exemptions due to the advanced standing recognition between the two insitutes.I heard even CICA is moving towards towards mutual recognition.
Where do you intend to land.
Once you land ,pls keep us posted on the developments which would be of immense help to future immigrants like us.
All the best.

Thanks

I am landing in Toronto.

Regarding MRA, it is expected since December 2009. I have send an email to ICAI to get updated on its progress but till now they have not responded back.

Regarding CICA, I also came to know that during training period candiates gets monthly salaries in range of $3000 to $4000. But this informtaion yet is to be confirmed.

I request other CAs to share thier views.

Best regards

 

[kris905]

For Indian Chartered Accountants to enhance qualifications for the Canadian market there are three options i.e, CMA, CGA and CICA. These three institutes give credits of some courses to the members of ICAI.

Before filing the application to either of these Institutes , I just wanted to take opinions of other Chartered Accountants on the forum to know which course we should opt and why?

Based on the information available on the websites of these institutes, I am of the opinion that we should go for CGA for the following reasons;

- It gives more credits than CICA
- It takes shorter time to complete the course
- There is no training requirements as it is of 3 years for CICA and
- Practically, there is no difference between CICA and CGA in Canada.


Please share your views as it will help all of us.

Thanks & regards

My brother is a CA in toronto. He also has the same opinion. He is currently preparing for the CGA exam.

 

[penpal]

Hi Guys,

See the following msg from the President of ICAI.

"Dear Members,

I am happy to inform you that ICAI has signed historic arrangment with CICA Canadian Institute of CA for membership recognition on 7th Feb., 2011.

Further arragments for the details shall be available on ICAI website shortly."


The condition for qualifying is passing the UFE.I do not know how many exams and how difficult are they and how much time they take.Maybe somebody can throw some light on them.

Thanks

 

[Tajik]

What about CPA? I am a US CPA, will it help me in Canada? I was told I could sit for CA due to reciprocity between US and CA.

 

[xenos]

@ penpal, where did you get this news? is it confirmed source? kindly inform. i checked their website no news on this. if its true then we'll all benefit immensely from this-

cheers

 

[xenos]

;D hey its true look what i found:

Reciprocal membership MOU signed by CA Institutes of Canada and India

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EmailPrint..On Monday February 7, 2011, 11:39 am EST

TORONTO, Feb. 7 /CNW/ - The Canadian Institute of Chartered Accountants (CICA) and the Institute of Chartered Accountants of India (ICAI) today signed a Memorandum of Understanding (MOU) on Reciprocal Membership Arrangements.

The MOU specifies the criteria by which members of one body are eligible for membership in the other. It was signed by the CICA on behalf of the provincial and territorial Institutes/Ordre of chartered accountants of Canada and the Institute of Chartered Accountants of Bermuda, which has long been affiliated with the CICA. The MOU requires ratification by these bodies as well as the boards of directors of the CICA and ICAI.

"It is important to forge closer links with our CA colleagues in India with that country emerging as a significant presence in the global marketplace," said Kevin Dancey, president and CEO, CICA. "Finding ways to help internationally trained professionals earn their Canadian CA fosters mobility and helps Canada attract the brightest and the best in today's global economy. Our profession is known as a leader in international labour mobility and in foreign credential recognition."

The MOU recognizes the similarity of accounting education for CAs in both countries and will reduce the admission requirements for qualified CAs from India. Under the MOU:


- An ICAI member who holds a recognized university degree will be
eligible to become a Canadian CA by passing the Canadian Uniform
Evaluation (UFE) and meeting the profession's experience
requirements.

- Individuals with a Canadian CA designation will be eligible to become
an ICAI member by passing the ICAI's examinations in corporate and
allied laws and tax.

"The global economy opens many windows of opportunity," said Amarjit Chopra, president, ICAI. "ICAI and CICA are pleased that the MOU will provide enhanced recognition of the accounting education programs in India. We have worked hard to gain this increased recognition."

"The Canadian CA profession has considerable expertise in determining substantial equivalency of foreign qualifications in a manner that is fair, consistent, transparent and timely," noted Dancey.

Chartered Accountants (CAs) are Canada's most valued, internationally recognized profession of leaders in senior management, advisory, financial, tax and assurance roles. Through their integrity, expertise, and internationally recognized qualification standards, Canada's 78,000 CAs sustain their influence and leadership position both in Canada and globally. As trusted business advisors to Canadian organizations of all sizes, Canada's CAs foster confidence in Canadian business and contribute to the health and sustainability of Canada's capital markets and economy. The Canadian Institute of Chartered Accountants (CICA) represents Canada's CA profession both nationally and internationally. The CICA is a founding member of the International Federation of Accountants (IFAC) and the Global Accounting Alliance (GAA).

Now lets hope the exams are few and easy

 

[vaibhavvd]

Guys its indeed a good news. A lot more relaxing as well. Following is the link of CICA website publishing the details of MOU

http://www.cica.ca/news/media-centre/media-releases-and-backgrounders/2011/item47091.aspx

This MOU need to be ratified by BODs of both of these institutes. Lets pray the ratification happens shortly.

All the best fellas.
-CA Vaibhav