Is CPA Canada REALLY Necessary?

[MahaMM]

Hi you guys,

I am currently still in the process of immigration, however, I am also considering the factors that should help me get a job once I hopefully get my visa and so I have a question for accounting professionals.

I am an ACCA member - I was wondering; is ACCA recognised by Canadian employers (and specifically by the accounting firms)? Now I realise that I can easily get CPA Canada through an MRA between ACCA and CPA, but my real question is, do I need to do that?

I would like to know the degree of how important that is - For example, would people holding CPA Canada be preferred over me; an ACCA qualified? Or another scenario; is it likely that employers and specially accounting firms won't recognise my qualification to begin with and only define CPAs as "qualified"?

I am asking this because I don't live in the UK however, ACCA is highly regarded over here since the local qualification doesn't really have that much prominence or value - However, I realise how established CPA Canada is and so I am thinking it may be the only qualification that will really be considered and have value when hiring, and in this case I will invest the money and efforts to get it through the MRA.

Thanks,

Maha

PS: I don't know if my post is in the right group, I am very new here.

 

[Pipis Husband]

Hi you guys,

I am currently still in the process of immigration, however, I am also considering the factors that should help me get a job once I hopefully get my visa and so I have a question for accounting professionals.

I am an ACCA member - I was wondering; is ACCA recognised by Canadian employers (and specifically by the accounting firms)? Now I realise that I can easily get CPA Canada through an MRA between ACCA and CPA, but my real question is, do I need to do that?

I would like to know the degree of how important that is - For example, would people holding CPA Canada be preferred over me; an ACCA qualified? Or another scenario; is it likely that employers and specially accounting firms won't recognise my qualification to begin with and only define CPAs as "qualified"?

I am asking this because I don't live in the UK however, ACCA is highly regarded over here since the local qualification doesn't really have that much prominence or value - However, I realise how established CPA Canada is and so I am thinking it may be the only qualification that will really be considered and have value when hiring, and in this case I will invest the money and efforts to get it through the MRA.

Thanks,

Maha

PS: I don't know if my post is in the right group, I am very new here.

The CPA is highly preferred over the ACCA here, employers do not regard the ACCA that much if at all.

 

[scylla]

Agreed with the above. Many employers here don't even know what ACCA is.

 

[MahaMM]

The CPA is highly preferred over the ACCA here, employers do not regard the ACCA that much if at all.

Wow, had no idea! Thank you for this clarification. Out of curiosity, how well is CPA US recognised in Canada?

Thanks,

 

[MahaMM]

Agreed with the above. Many employers here don't even know what ACCA is.

That's a bit surprising considering that there is a strong MRA between ACCA and CPA Canada, I guess it is worth going through the tax and law online course then and earning CPA Canada designation!

 

[Pipis Husband]

Wow, had no idea! Thank you for this clarification. Out of curiosity, how well is CPA US recognised in Canada?

Thanks,

Your best bet is to focus on scaling the Canadian tax and law modules and get your CPA here. With the average Canadian employer, if it's not Canadian, it's foreign and that counts for the US as well.

 

[MahaMM]

Your best bet is to focus on scaling the Canadian tax and law modules and get your CPA here. With the average Canadian employer, if it's not Canadian, it's foreign and that counts for the US as well.

With this outlook, I will make sure to get my CPA before even going to Canada in order to facilitate my job search, it shouldn't be difficult, I just have to pass an online tax and law course and I will be granted CPA upon the submission of some documents.
Sorry for asking too many questions, but I wonder; have you heard of CFA? and if yes, how recognised is it in Canada? I think it should be recognised given that there isn't a Canadian equivalent for CFA. I am currently pursuing CFA and it is a highly regarded American qualification.

 

[asalam.boundless]

With this outlook, I will make sure to get my CPA before even going to Canada in order to facilitate my job search, it shouldn't be difficult, I just have to pass an online tax and law course and I will be granted CPA upon the submission of some documents.
Sorry for asking too many questions, but I wonder; have you heard of CFA? and if yes, how recognised is it in Canada? I think it should be recognised given that there isn't a Canadian equivalent for CFA. I am currently pursuing CFA and it is a highly regarded American qualification.

CFA is highly recognized in Canada but whether its good for you or not depends on your experience.

Asset management firms are the largest employers of CFA Charterholders, based on analysis conducted by efinancialcareers, however CFA Charterholders represent at best only 24% of the largest employer’s workforce. RBC (Royal Bank of Canada) is estimated to be the third largest employer of CFA Charterholders worldwide and the largest employer in Canada.

The value of the CFA designation really depends upon the particular role and employer. Some employers value the CFA interchangeably with CPA or MBA (i.e. valuing a professional designation or post-graduate degree) or CBV (Chartered Business Valuator, 1,800 members), CIM (Chartered Investment Manager designation) or CSC (Canadian Securities Course, which is training and a regulatory requirement for certain roles).
Here is the link to the full article: https://www.quora.com/Is-a-CFA-valuable-in-Canada