requirements for finance people to work in Canada

[Mashloum]

I am in the process of moving to Canada. I have a B.S in Accounting and I have been working in Saudi Arabia in the last 6 year and 12 yearsa experience in Accounting & Finance field. Since I always wanted an accounting designation I started studying for US CMA.

I came across some forums( not this one) which says that US-CMA is not accepted in Canada. Now I am really confused because I do not want to do something which will not be beneficial when I go to Canada.

Please advice with this regard…

however is this impact the recruiting in Canada, in another word the firms appetite or the demand from employer on US CMA candidate is also impacted? , and what do you advice me to do solve this concern?

 

[zulkfal]

It depends, where you obtain your qualifications.
Degree Qualification (am from Pakistan but studied undergrad and post grad in UK currently PhD Finance/ Economics student at U Toronto)
1) Degree qualifications from Canada, Aus, Europe, US, UK are most preferred.
2) IT professional from south east Asia with good experience (understand good experience) are preferred.
3) Know let's talk about Finance related fields. Accounting/ Auditor are hot profession in Canada, but it's not easy to get in; for normal position mean as accountant you will may get a job with (first job) with good experience and qualification, but highly ranked positions are not easy to get without a CA from Canada/ England & Wales /AUS/ Scotland/ NZ (not ACCA) expact Canadian CA other still need to pass some exams. None of other CA's (e.g. Pakistan , Indian and South African CA) or any other professional qualification are accedpted by professional bodies, and for advisory, investment CFA is standard.
4) If you want to do CA or CMA in Canada then you have to go to uni to gain 51 credit hours. Modules can vary by provinces same time you have to match your credits with courses and it will again depend where you will be settling, in Ontario the only course which gives you full 51 credits is MA Accounting from Uni of Waterloo. Still student with Canadian BA in accounting need to take extra postgrad courses to make up required 51 credits (which are specific post grad and undergrad courses you must take before you can register for CA or CMA exam in Canada).
I worked with PWC UAE as Auditor for 7 months and 6 months in their Advisory b4 leaving and during this period I worked wit top firms from Middle east was in Saudi for couple of times (exclude large western organisations e.g. HSBC, CITI), i wll be clear with you that the accounting practice in Gulf is completely different from other parts of the world esp developed as they don't follow all the standarde.In canada as accountant in good (we can say all) organisation you are expected to be good with IFRS not verbally practically. it will be a big change big adjustment and that is one of the major reason why some degree holders from Middle east, Asia, Latin America and from some European countries don't get the jobs they were doing before migrating. So, will strongly advice you check the job requirement on job web sites e.g. monster Canada and prepare yourself up to that and date.
Sorry am quite junior but With this experience you should specifiy your profession as Accounting & Finance is a broad filed etc only from investment which is a subfield of finance then its sub investment banking has more than 327 different titles. So please when search the job search according to your title no just Accoutnign and finance.,

 

[gaizin]

zulkfal ,
I found your reply based is on the ground reality. By the way, I would like to ask a question as you being living and studying in Canada.
As I am not asking about me rather about my wife. She has passed all parts of US CPA recently but yet to get the US CPA licence or certificate. Her english speaking is not so good. How is situation to find a job in CANADA in entry level or mid-level in accounting or auditing with US CPA knowledge. We will be ready to relocate in any part of Canada or even we are thinking to pursue her study in MAcc in accounting in canada after getting our PR? How is the scope of masters in accounting from Canada ? Does it help to get a good job?
I checked in the monster but not much information.
Hope to hear your views.

 

[zulkfal]

US CPA can help you to get accounting job but not auditing in auditing or mid level. English level should be intermediate mean easily explain and understand. Auditing need tax information of local country and US CPA can't sign financials. MAcc only from University of Waterloo highly competitive no funding (or little) and cost's around CAD 16,000 that's the fee only, then you can start as entry level auditor in assurance services then you have to study for Canadian CA, but plz check the web of Institute of CA Ontario, and go to qualifications may be you can get some exemption on 51 credit from CPA, if not then you have to choose MAcc, but for normal accounting job's I think she will be fine. US CMA and CPA are not widley accepted in Canada, but small firm's hire US CPA as they cost less compare to Canadian CMA/CA

 

[CanSun]

Follow this link :::

http://www.cica.ca/become-a-ca/foreign-trained-accountants/international-qualifications-appraisal-board/index.aspx

Almost all US qualifications and experience are very highly regarded in Canada. I am speaking out of first hand experience and my current company still goes for US applicants first if they dont find Canadian applicants. European(British, French, German, Dutch etc) all come in secondary after Canadian and American applications. Also US CPA need only to pass Tax and Law exams to get certified here to get their designation in Canada.

Always remember in Canada - North American (Canadian and American) qualifications and experience are given 1st Priority and then comes the rest of the world. This is true for Accounting, Finance, Doctors, Nurses etc - name it any profession - priority is always given to Canadian and American degrees and experience.

Bottomline, if you have a US CPA, then your chances of getting a good job or getting CA designation in Canada are VERY GOOD.

But I dont know much about US CMA though ???

 

[zulkfal]

Follow this link :::

http://www.cica.ca/become-a-ca/foreign-trained-accountants/international-qualifications-appraisal-board/index.aspx

Almost all US qualifications and experience are very highly regarded in Canada. I am speaking out of first hand experience and my current company still goes for US applicants first if they dont find Canadian applicants. European(British, French, German, Dutch etc) all come in secondary after Canadian and American applications. Also US CPA need only to pass Tax and Law exams to get certified here to get their designation in Canada.

Always remember in Canada - North American (Canadian and American) qualifications and experience are given 1st Priority and then comes the rest of the world. This is true for Accounting, Finance, Doctors, Nurses etc - name it any profession - priority is always given to Canadian and American degrees and experience.

Bottomline, if you have a US CPA, then your chances of getting a good job or getting CA designation in Canada are VERY GOOD.

But I dont know much about US CMA though ???

I gave my comments from a PWC member (in university career fair) who told me they prefer Canadian those students who fall in these category and this is the link where you can find some information about accountancy course requirement and you can check US CPA is not an accepted qualification by Institute of CA Ontario, but you can get some exemption and you can get this on CA from India and Pakistan.
http://www.icao.on.ca/Admissions/OccupationalFactSheet/1010page1361.aspx

again it also depends on provicional institute, Ontario, UBC not
but as I said geetin job's in normal firm is not a big deal but good job's e.g Chief Accountant, CFO are not easy without CA from Canada and in good firm's e.g. HSBC, CITI, PWC, KPMG, EY RBC mean brand name are not easy.

 

[JackSmith]

As per my knowledge you will not get job of auditing in Canada because they want the person who has much knowledge about that specific country's taxation system. You will get job of accounting there easily. In my opinion,you should go there after thinking twice about your career growth there.

 

[Aycan1998]

Hi, the US CMA is not equivalent to the Canadian CMA the requirements (programme) are different. So in Canada, the US CMA carries "zero weight". I inquired as I was interested in sitting the US CMA.

Hope this helps

 

[scylla]

Hi, the US CMA is not equivalent to the Canadian CMA the requirements (programme) are different. So in Canada, the US CMA carries "zero weight". I inquired as I was interested in sitting the US CMA.

Hope this helps

Absolutely correct. The US CMA isn't recognized here.