Indian Chartered Accountants Join this thread share your views

[setcanada]

Your Right honeyjack after next update scenario will be clear lets hope to receive positive outcome from CICA

I am also very confuse but i think it will waived partially..I guess we still have to undergo training for 1 to 2 years...as u said next update will clear all doubts..
Honeyjack

 

[cabharatbhushan]

But one thing is clear that to pass the UFE we need to have the knowledge of 6 segments of specific competency. So we have to study at least 6 subjects.......it is not an easy task...

About training my intuitions are they are not going to exempt training...as it is clear from the information available now.

 

[honeyjack]

Rightly said Bharat...as i said before CGA may be the good option as compared to CA. Subjects to clear will be approx 3 & it's results are on a higher side then CA... actually i am also doin CIA from IIA & cleared Part 1 still 2 to clear as 4th is exemption for us.... anybody has any idea about value of CIA carrying in canada....

 

[cabharatbhushan]

Rightly said Bharat...as i said before CGA may be the good option as compared to CA. Subjects to clear will be approx 3 & it's results are on a higher side then CA... actually i am also doin CIA from IIA & cleared Part 1 still 2 to clear as 4th is exemption for us.... anybody has any idea about value of CIA carrying in canada....

Will u elaborate CIA and IIA....and R u CA?????

 

[xenos]

@cabharatbhushan

CIA= certified internal auditor, iia institute of internal auditors, and if honeyjack is exempt from fourth paper then he must be a CA


after the initial excitement even i was dissapointed, an MRA would have been slightly better, like the one icai has with australia, this ufe is going to be difficult-its first of all only once a year, next-the number of attempts are i think few. (i read two somehwere but we need to check on that.)

cga on the other hand is more often-not just once a year, also number of attempts at each paper is more.

we got to consider the entire situation because all of us may not even be able to put in 100 percent if we are working at some starter job and all- so whichever we do,its got be doable!

 

[penpal]

Hi Guys,

It seems by the members' response, getting a CICA qual is much tougher than the CGA qual.Somebody said that one only has to clear 3 papers to become a CGA which is not true.I have evaluated my B.com Hons. and ICAI transcripts and the CGA evaluation results tell me that i need to appear for 4 papers in advanced studies,2 papers in PACE and 2 papers in Professional applications.I have also submitted the IQAS assessment.So effectively it is 8 papers to be cleared before you become a CGA.Maybe it might not be qas tough as the CICA but still the CGA will be time consuming as i am doing a full fledged job and i won't be able to appear in more than a paper in a single session.
Can anybody else, who has already done the CGA evaluation,share their experience.
Also a word of thanks for all the info provided by the members in this forum.

Also i am attaching the email i got from CICA subsequent to the MOU.This was a reply to my email.

""Thank you for your inquiry.

A Memorandum of Understanding (MOU) on reciprocal membership arrangements was signed by CA Institutes of Canada and India on February 7, 2011. This MOU specifies the criteria by which members of one body will be eligible for membership in the other.

The agreement will come into effect when it is ratified by the Councils of the Provincial Institutes/Ordre of Chartered Accountants in Canada, and the Board of Directors of the Institute of Chartered Accountants of India. We do not yet have a timeline for ratification; the Institutes/Ordre have operational issues to address.

Once the agreement is ratified, members of the Institute of Chartered Accountants of India who hold a recognized university degree will be eligible to qualify for a Canadian CA designation by passing the Canadian Uniform Evaluation (the "UFE"), and meeting the profession’s experience requirements. International experience will be included in the assessment. Click here for information on the UFE.

Note that the MOU covers certification as a Chartered Accountant only. It does not cover licensure to practice public accounting.

Each Provincial Institute/Ordre is responsible for CA qualification within its jurisdiction, including assessment of education and experience, and administering the UFE. For more information, contact the Provincial Institutes/Ordre in which you reside or wish to reside.Click here for contact information.""


Also see the ICAI president's mail.

""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.


Regards


Amarjit Chopra
President - ICAI""




Regards

 

[vaibhavvd]

Thanks Honeyjack and Setcanada,

I also think that with the MOU Indian CA will not be required to undergo articles. If it does then the MOU is not of any use, might as well we should join the course itself. MOU gives us privilege of becoming member of another institute by passing 1-2 papers. usually these papers are tax and corporate laws (as these two are different in each country).

I would still think pursuing CA would be a more wiser option (due to the only fact that we have MOU with CICA).

As many of you have rightly said, let us wait until further declaration from either institutes and then discuss it further.

all the best fellas
-Vaibhav

 

[honeyjack]

Will u elaborate CIA and IIA....and R u CA?????

xenos said is correct,IIA is Institute of Internal Auditors & CIA is a designation " Certified Internal Auditor". I am also M.com & MBA (finance) & pursuing CIA( cleared 1st part & 2 to clear)

Honeyja cak

 

[vivshivram]

Hello Everyone,

This is seriously a great forum, and this thread is especially enthusiastic. I've been looking for something like this for quite a while. I have a couple of questions and need some valuable advice/ insights.

To introduce myself, I am a Graduate in Commerce and a Part Finalist with ICAI (One Group to go). I have successfully finished my Articleship with a Big Four practice in Chennai and have had a very rigorous experience, across Core Audit and Systems Audit disciplines.

I am very keen on making a career in Canada and would like to move at an early stage in my professional career. I'd like to get some clarifications from senior members on this forum.

1. I believe NOC Code 1111 - Financial Auditors and Accountants - has been removed from the list. But NOC Code 1122 - Professional Services in Occupations related to Management - has been added and includes "Chartered and Cost Accountants". Presently, NOC Code 1122 has reached the cap of 1,000 applications. Will this reopen next year, for a fresh set of 1,000 applications, or will old applications be considered first (as in applications pending in CHC and Consulates)?

2. I have pursued my graduation and CA simultaneously. How does this affect my chances (good or bad)?

3. My articleship was a paid one and, as I mentioned a bit earlier, pretty much extensive. Does the Immigration officer view experience carefully (substance over form), or will the fact of the experience being "articleship" affect the application in any way?

4. As ICAI has signed MoU/ MRA with CGAA and CICA, which is a better qualification from a job perspective? It appears that CA from CICA may have to be pursued from Canada itself, while CGA may be pursued from India as well.

5. Finally, is it worthwhile to apply for a Work Permit/ PR first and then come to Canada to look for work, or the other way round, i.e. get a job offer before applying for PR? I am asking this because of the extraordinary waiting times I have come across (6-12 months). So even if I get a job offer, I can't obviously expect my employer to wait for 6 months for me to get a work permit.

Hoping to get some encouraging answers soon. I have gone through this thread completely, I am asking these queries because I haven't been able to get clarifications for these from the thread as yet.

Thanks in advance.

Best Regards,
Vivek

 

[vinind]

Hi,
I'm Vinit, C A from India, presently working in Muscat. Landing in Mar-2011 with family. Any suggestions for getting started for job hunt. Thanking you in advance. This thread is really useful.

 

[penpal]

Hi Guys,

Can anybody who is doing CGA or hving knowledge of the course content,reply to the below mail.I will appreciate.

Thanks

""It seems by the members' response, getting a CICA qual is much tougher than the CGA qual.Somebody said that one only has to clear 3 papers to become a CGA which is not true.I have evaluated my B.com Hons. and ICAI transcripts and the CGA evaluation results tell me that i need to appear for 4 papers in advanced studies,2 papers in PACE and 2 papers in Professional applications.I have also submitted the IQAS assessment.So effectively it is 8 papers to be cleared before you become a CGA.Maybe it might not be qas tough as the CICA but still the CGA will be time consuming as i am doing a full fledged job and i won't be able to appear in more than a paper in a single session.
Can anybody else, who has already done the CGA evaluation,share their experience.
""

 

[xenos]

dear penpal and fellow ca's just go through the following document may help in getting a clearer picture about cga papers (but not level of difficulty)

www.icai.org/resource_file/11586p294-295.pdf

rgds, xenos

 

[penpal]

dear penpal and fellow ca's just go through the following document may help in getting a clearer picture about cga papers (but not level of difficulty)

www.icai.org/resource_file/11586p294-295.pdf

rgds, xenos

Hi Xenos,

Thanks for your mail.But this info only talks about the exepmtions till level 4 .What about the PACE level and Professional level which are the next two levels and each has 2 papers for a total pf 4 papers.
Maybe they are something new that the CGA has introduced after ICAI signed the advanced standing ststus with CGA.

Thanks

 

[mehulca]

Hi All,

I am Indian CA of 2006. I am in practice and wants to practice in Canada also. Does anybody have any idea about how to practice accounting profession in Toronto. What additional degrees I need to get before being eligible to practice?

Thanks in advance.

 

[mehulca]

Just keeping the thread active. Where are Indian CAs. All must be busy.