is acca recognized in canada

Recognition of ACCA in Canada

Introduction

Global accounting institutes/bodies enter into agreements with their counterparts in other countries to provide a window to its members to practice accounting profession in both countries without having the need to undergo the entire process of qualification. This is more like having a dual degree thereby allowing one to have an international presence of their accreditation. 

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Canada CPA Agreements

Qualified members of other institutes/bodies have below ways to obtain CPA Canada membership:

  • Mutual Recognition Agreement (MRA) – provides right to membership and the right to practice public accounting between the two accounting institutes of below countries
  1. USA – AICPA and NASBA
  2. France – Ordre des Experts-Comptables de France
  3. Mexico – Instituto Mexicano de Contadores Públicos and Comité Mexicano para la Práctica Internacional de la Contaduría
  • Reciprocal Membership Agreements (RMA) – provides the right to membership between the two accounting bodies in below countries and institutes
    1. Chartered Accountants Australia New Zealand (CA ANZ) 
    2. Chartered Accountants Ireland (CA Ireland)
    3. Hong Kong Institute of Certified Public Accountants (HKICPA)
    4. Institute of Chartered Accountants in England and Wales (ICAEW)
    5. Institute of Chartered Accountants of Scotland (ICAS)
    6. The South African Institute of Chartered Accountants (SAICA)
    7. Institute of Chartered Accountants of Zimbabwe (ICAZ)
  • Memorandum of Understanding (MOU) – specifies the criteria by which members of one body are eligible for membership in the other body
    1. Institute of Chartered Accountants of India
    2. Institute of Chartered Accountants of Pakistan

ACCA Agreements 

Similar to CPA Canada, ACCA has also entered into membership recognition agreements with other international institutes/bodies. Below is the list of current agreements:

  1. Accountants and Auditors Association United Arab Emirates (AAA UAE)
  2. Chartered Accountants Australia New Zealand (CA ANZ) 
  3. CPA Bulgaria
  4. HKICPA Hong Kong
  5. MICPA Malaysia
  6. CA Sri Lanka

Agreement between CPA Canada & ACCA?

As you may have seen above, there does not exist any agreement for mutual recognition between CPA Canada and ACCA. Earlier, there used to be a MRA between CGA Canada and ACCA which allowed ACCA members to be automatically admitted to CPA Ontario. However, this agreement expired in April 2021.

Do not lose heart – there is still a way out for ACCA members to gain some advantage in their pursuit of CPA Canada membership.

Members of Accounting Bodies outside Canada

A member of an accounting body outside Canada with a good standing, may be eligible with CPA Ontario as a student. CPA Ontario is a provincial body in Canada that represent the Canadian Chartered Professional Accountant membership. CPA Ontario has laid below guidelines for admission to CPA course.

CPA Ontario Requirements

A person must be a member in good standing with one of the following attributes in order to qualify for student registration:

  • a professional accounting body outside Canada that is a Member Body in good standing with the International Federation of Accountants (IFAC)
  • a professional or regulatory body or authority for accountants or auditors in a country other than Canada that has been established by statute to qualify, certify, regulate, license or authorize individuals to practice as accountants or auditors in that country

 As a member of an accounting body outside Canada, one may be eligible for an advanced standing in the overall CPA certification program in form of a Challenge Path.

To view the fee structure, please refer to our video on ACCA course fees

Challenge Path  

Challenge Path program is available to students with a university degree and/or a minimum number of years of experience (30 months). Since ACCA members already have a 36 months of practical work experience, they are automatically eligible to claim further exemption from this requirement. 

Thus, as part of the Challenge Path, an ACCA member will be required to successfully complete the following:

  • challenge the examinations of Core 1 and Core 2 Modules
  • challenge the examinations of two Elective Modules
  • Capstone 1 Module
  • Capstone 2 Module
  • Common Final Examination

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