How does the MRA between ACCA and CPA Canada work?
5/17/2019 12:00:00 AM
The Association of Chartered Certified Accountants (ACCA) is a world-renowned professional accounting body that offers a chartered certified accountant qualification to students.
With a presence in over 179 countries, ACCA has 208,000 members worldwide. It has gained credibility in Canada as well, with more students opting for the qualification. In order to help students pursue the qualification seamlessly, ACCA has signed an MRA (Mutual Recognition Agreement) with CPA Canada. In this article, you will read about the specifications of the MRA between the two professional bodies and how students can benefit from this.
What is the MRA between ACCA and CPA?
The Mutual Recognition Agreement (MRA) between ACCA and CPA states that if you are already an ACCA member in the UK, you may be eligible for membership in CPA (Chartered Professionals Accountant) Ontario. CPA is a professional accounting body in Canada that encompasses three areas of accounting, namely, Chartered Accountant (CA), Certified Management Accountant (CMA) and Certified General Accountant (CGA).
Under this MRA, students have to fulfill certain criteria to be eligible for membership in CGA Ontario. The criteria specify that a student(s) must:
- Be a member of ACCA (UK) in good standing;
- Have acquired ACCA membership by successfully completing the final leg of ACCA professional program;
- Fulfill the practical experience requirements laid down by ACCA;
- Have a degree from a recognized university if they got admitted into ACCA post 31 December 1997;
- Apply with an appropriate form and pay the prescribed fees;
- Provide all information and produce all documents requested by CPA Ontario;
- Provide proof of character to the Registrar by answering declaratory questions in the online application form;
- Not have any disciplinary action record until 5 years prior to submitting the application for admission into CGA Ontario.
If you attain admission into CGA Ontario, you will automatically get admitted to CPA Ontario. This can be accredited to the unification of the accounting profession in Canada.
How to become a CPA, CGA Member
Step 1: To apply for a membership to CPA, CGA, you should first send an email to ITAregistration@cpaontario.carequesting the application form and the list of documents that you need to submit along with it.
Step 2: You must complete the Overview of Canadian Tax and Law course offered by CPA Canada as an online program before you apply for the membership.
Step 3: Once you receive the application form and details on how to register in the response mail from CPA Ontario, you can begin the process of filling the application form. While you are filling out the form, ensure that all the information provided is in English. The documents provided must also be in the English language. In case your documents are in a language other than English, get it officially translated before you send it.
Step 4: You can send the application form and documents via email to ITAregistration@cpaontario.ca or by regular mail to the address - 69 Bloor Street East, Toronto, ON M4W 1B3 Attn: CPA Ontario Registrar’s Office.
Ensure that the information provided in the application form is true and that the application and documents have been received by the registrar. The Registrar will send a mail with the decision within four to six weeks of the application submission.
List of documents required to apply for CPA
Identity proof (copy of any one):
- Birth certificate;
- Canadian Citizenship Certificate Card (both sides);
- Canadian Driver’s License;
- Permanent Resident Card (both sides) or Landed Immigrant papers;
- Nexus Identification Card.
Recommendation letter from ACCA:
The letter must be sent directly by ACCA, either an original or via email. The letter must contain the following specifics:
- That you are a member of ACCA (UK) in good standing;
- That you have qualified the final part of the ACCA professional program and met ACCA’s practical experience requirements;
- That you did not attain membership into ACCA through an MRA with another professional accounting body;
- That you did not have any pending ethics complaints or disciplinary action five years prior to the submission of the article.
Original letter of recommendation from all professional accounting bodies you are a member of.
Resume with all work experience and educational qualifications in chronological order.
Statement of Completion Certificate as proof that you have completed the Overview of Canadian Tax and Law online course.
Two Referee Recommendations.
ACCA’s association with CPA Canada through the means of the MRA has helped students across the world to pursue the qualification in Canada without any constraints. Moreover, it has increased the popularity of ACCA in the country, with more and more students looking to enroll for the qualification. Students can further take preparatory courses for ACCA in Canada to ensure their successfulqualification in the ACCA certification exam. Toronto School of Management (TSOM) offers a Preparatory Course for ACCA examination as well asACCA part-time courses to help students become ACCA-qualified professionals. If you are also interested in pursuing the ACCA qualification, enroll for the course now!