Chartered Accountants - Countries - Canada

Canada

In Canada, Chartered Accountants belong to the Canadian Institute of Chartered Accountants ("CICA") by way of membership in at least one provincial/territorial institute (or ordre in Quebec). In order to become a CA, a candidate requires an undergraduate degree plus articling experience and, depending on the province, additional education. Candidates in all provinces are required to pass the 3-day Uniform Evaluation ("UFE").

The Canadian professional designation for a Chartered Accountant is CA, with senior members having given exemplary service to the profession being able to be granted the designation FCA. The local institute/ordre may have strict regulations as to the usage of the designation by out-of-province CAs within their jurisdiction, but it is normally a straightforward matter to transfer membership from one provincial institute to another.

The CICA is one of the accounting bodies whose members qualify to become US CPAs through writing the International Qualification Examination, although with several complications. Some US states do not offer reciprocity and the ones that do often require additional education or experience before granting a CPA licence to a Canadian CA.

Auditing rights are regulated by provincial governments. In British Columbia, the Business Corporations Act provides that only CAs, CGAs, or anyone who has been granted an accounting licence by the provincial regulatory body may audit public companies. In Prince Edward Island, only qualified CAs and CGAs can perform public accounting and auditing in accordance with the Public Accounting and Auditing Act. In all other provinces, except Quebec and Ontario (detailed below), only qualified CAs, CGAs, and CMAs may audit public companies.

Historically, Quebec and Ontario only allowed CAs to audit public companies. In 2004, the Ontario government passed legislation that would enable CAs, CGAs and CMAs to practise public accounting under licence from the Public Accountants Council. In June 2010, CGAs were authorized to be licensed, and CMAs were authorized to be licensed on January 25, 2012. On November 20, 2009, Quebec passed regulations granting statutory auditing rights to qualified CAs, CGAs and CMAs.

The size of the accounting bodies varies across Canada. In Ontario and Quebec, CA is larger than CGA or CMA, however CGA is the fastest growing amongst the three bodies. In Manitoba and British Columbia, CGA is the largest accounting body.

In May 2011, the CICA entered into exploratory talks with CMA Canada on the merits and feasibility of uniting the two bodies, and to consider the creation of the new designation of Chartered Professional Accountant ("CPA") with a related common qualification program. In October 2011, CGA Canada also joined the discussion, with several of its provincial associations having already participated in their respective jurisdictions.

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