Young asian businesswoman introduces herself to client

The Reciprocal Membership Agreement (RMA) between CPA Canada and the Hong Kong Institute of Certified Public Accountants (HKICPA) aims to ease the path towards a career in accountancy, while standardizing the qualifications. (Lu Jinrong/Shutterstock)

Accounting | The Profession

Canadian and Hong Kong accountants united, gaining ground and opportunity, with new membership agreement

Agreement allows accountants to work overseas and meet the necessary credentials of fellow association

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CPAs in Canada and Hong Kong* are more connected, and their professions more aligned, thanks to the introduction of a Reciprocal Membership Agreement (RMA) between the two associations.

Aiming to ease the path towards a career in accountancy, while standardizing the qualifications, the RMA was signed by CPA Canada and the Hong Kong Institute of Certified Public Accountants (HKICPA) on June 1.

“The signing of this agreement clearly demonstrates the commitment of the Canadian CPA profession to help advance labour mobility through international recognition,” says Joy Thomas, president and CEO, CPA Canada.

Now, qualified professional accountants belonging to either association will be recognized and able to obtain the credentials of the fellow association with ease. Essentially, this permits Canadian CPAs to work in Hong Kong and will also attract Hong Kong-trained accountants to Canada.

“These agreements help our members by reducing barriers to global career opportunities, as well as attract top talent to Canada, which contributes to economic growth as well as social well-being,” adds Thomas.

As part of its international credential recognition programs, CPA Canada has other mutual recognition agreements (MRAs) with accounting bodies in the United States (AICPA/NASBA), Mexico; reciprocal membership agreements with Scotland (ICAS), Ireland (CA Ireland), Australia and New Zealand (CA ANZ), and South Africa (SAICA), as well as a memorandum of understanding with the Chartered Accountants of Pakistan (ICAP).

Expanding its Chinese relations further, another agreement was signed between CPA Canada and long-standing academic partner, Zhejiang University of Finance and Economics (ZUFE), on June 9. This agreement aims to invite Canadian students to study overseas, while experiencing Chinese culture, through the one-year Globalized Accounting Professional Program (GAPP). In addition to the partnership agreement with ZUFE, CPA Canada has agreements with 12 other top-tier universities in China where CPA Canada’s preparatory courses are taught, in English, as part of international accounting undergraduate degree programs.

MORE ON INTERNATIONAL CREDENTIAL RECOGNITION

Click here to find out about the eligibility of Canadian CPAs applying for membership with an international accounting body.

*This story has been updated to clarify details of the Reciprocal Membership Agreement.