Foreign Trained Accountants
The CICA itself does not admit members and students; its membership is derived from membership in one of the 10 provincial and two territorial institutes of chartered accountants and the Institute of Chartered Accountants of Bermuda. The institutes are empowered by local laws to regulate and govern the chartered accountancy profession within their jurisdictions. Individuals holding foreign accountancy designations who want to become a Canadian Chartered Accountant must apply to the institute in the jurisdiction where they live or intend to live.
The CICA works in partnership with and on behalf of the institutes to:
- Assess the qualification processes of foreign accounting bodies to determine the extent to which they are equivalent to the Canadian process
- Negotiate Mutual Recognition Agreements with accounting bodies whose qualification processes are substantially equivalent;
- Determine the additional education, evaluation and experience requirements for members of reviewed accounting bodies not deemed substantially equivalent.
Credentials of foreign-trained accountants are assessed according to the following categories:
| Category | Description |
|---|---|
| Designated Accounting Bodies | These designated accounting bodies are considered by the Canadian CA profession to be substantially equivalent. Members of these accounting bodies generally qualify for membership in the Canadian CA profession with minimal additional requirements. |
| Accounting Bodies with Reciprocal Membership Agreements | |
| Non-Equivalent Accounting Bodies | These accounting bodies have been reviewed by IQAB and their qualification processes have been determined not to be equivalent to the Canadian qualification process. |
| Accounting Bodies Currently Under Review | |
| Members of Non-Assessed Accounting Bodies | Individuals who are members of professional accounting bodies which have not been reviewed by IQAB, or who are not members in any professional accounting body can request individual assessment by the appropriate PICA/Ordre. This review will identify any additional education, examination and/or experience requirements the individual must complete to qualify for membership in the Canadian CA profession. |
Assessments of foreign bodies, and negotiations of Mutual Recognition agreements are conducted by the profession’s International Qualifications Appraisal Board (IQAB), the current status of which is as follows:
| Country | Designated accounting body | Accounting body with Reciprocal Membership Agreement | Non-equivalent accounting body | Currently under review |
|---|---|---|---|---|
| Australia | Institute of Chartered Accountants in Australia | CPA Australia | ||
| Belgium | Institut des Réviseurs d'Enterprises de Belgique | |||
| France | Ordre des Experts Comptables | |||
| Hong Kong | Hong Kong Institute of Certified Public Accountants | |||
| India | The Institute of Chartered Accountants of India | |||
| Ireland | Institute of Chartered Accountants in Ireland | |||
| Japan | Japanese Institute of Certified Public Accountants | |||
| Luxembourg | Institut des réviseurs d’entreprises | |||
| Mexico | Instituto Mexicano de Contadores Publicos | |||
| Netherlands | Nederland Instituut van Register Accountants | |||
| New Zealand | New Zealand Institute of Chartered Accountants | |||
| Nigeria | Institute of Chartered Accountants of Nigeria | |||
| Pakistan | Institute of Chartered Accountants of Pakistan currently under review | |||
| Philippines | Philippine Institute of Certified Public Accountants | |||
| South Africa | South African Institute of Chartered Accountants | |||
| Sri Lanka | Institute of Chartered Accountants of Sri Lanka | |||
| Switzerland | Swiss Institute of Certified Accountants and Tax Consultants | |||
| United Kingdom | Institute of Chartered Accountants in England and Wales, Institute of Chartered Accountants of Scotland | Association of Chartered Certified Accountants | ||
| United States | American Institute of Certified Public Accountants, National Association of State Boards of Accountancy | |||
| Zimbabwe | Institute of Chartered Accountants of Zimbabwe |
Read more about this topic: Canadian Institute Of Chartered Accountants
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