It is no longer news that Canada is so rewarding to chartered accountants, especially those with ACCA. If you are considering relocation to Canada as an Accountant, it is highly recommended you bag your ACCA certification first. See ACCA as your pathway to Canada Permanent Residence.
Despite an influx of Accountants over the past few years, Chartered Accountants are still in high demand across Canada from both the Federal and Provincial levels. In this blog post, we will answer the Frequently Asked Questions about Moving to Canada as an Accountant with ACCA.
IS ACCA RECOGNIZED IN CANADA?
Yes, ACCA is recognized in Canada. However, there are provincial regulations governing the use of ACCA in Canada. Accountants are on the Canadian NOC List code 1111 and are eligible for Permanent Residency under the Federal Skilled Worker Immigration Program.
HOW CAN I PRACTICE AS A CANADIAN ACCOUNTANT?
In Canada, Chartered Accountants are regarded as CPA (Chartered Professional Accountants of Canada). In order to practice as a CPA being a foreign trained Accountant, you need to follow a structured pathway.
This pathway provides access into the Canadian profession for ACCA members who will be able to use the IFAC member body route. It is open to qualified members of any professional accounting body that is part of IFAC; thankfully ACCA is part of IFAC.
You will be required to write the Core 1 and 2 and elective exams and complete Capstone 1 and 2 and the CFE (Common Final Examination).
Also, you must have a university degree and a minimum of three years of relevant experience or no university degree with a minimum of eight years of relevant experience in order to sit for the challenge.
Chartered accountants with ACCA qualifications are eligible to be grandfathered into the CPA after successful completion of the course titled: Overview of Canadian Tax and Law.
CAN I MIGRATE TO CANADA AS AN ACCOUNTANT ON A PERMANENT BASIS?
As a certified accountant with ACCA, you can migrate to Canada permanently. You must however initially register in the Express Entry pool and wait for an Invitation-to-Apply (ITA) from Immigration, Refugee, and Citizenship Canada (IRCC). Also, the ACCA qualification is equivalent to a master’s degree in Canada which will increase your CRS (Comprehensive Ranking Score) and improve your chances of being selected from the pool.
Once you have an ITA, you can apply for Permanent Residence (PR).
WHAT BENEFITS DO I STAND TO ENJOY IF I MIGRATE TO CANADA AS A PERMANENT RESIDENT?
When you Migrate to Canada as an Accountant on Permanent Residency, you will enjoy the following:
- Live and work in Canada
- Enter and leave without restriction
- Study in Canada
- Access Canadian Healthcare
- Access social benefits
- Apply for Citizenship and Dual Nationality after four years
- Enjoy protection under Canadian law and the Canadian Charter of Rights and Freedoms
HOW MUCH WILL I EARN IN CANADA AS AN ACCOUNTANT?
The average salary of a Chartered Professional Accountant (CPA) in Canada is $65,830/year. It varies according to the number of years of experience and according to the companies.
HOW CAN I BECOME AN ACCA CERTIFIED ACCOUNTANT?
We’ve provided in depth information about the Association Of Chartered Certified Accountants (ACCA) and how you can successfully write the exams at one sitting. You should visit the page to learn more.
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