Joy Thomas (left), president and CEO of Chartered Professional Accountants of Canada, and Naveen N. D. Gupta, president of the Institute of Chartered Accountants of India with representatives from the Toronto and Vancouver ICAI chapters, at the signing of the Memorandum of Understanding between Canada’s CPAs and India’s CAs in Toronto on November 17, 2018. (Image provided)

Accounting | News

New agreements with international accounting bodies open up career opportunities abroad

Canadian CPAs now have access to designations from India as well as England and Wales

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Chartered accountants from India and CPAs from Canada will now have the opportunity to seek career opportunities in each other’s countries.

This professional exchange is made possible through the signing of the first memorandum of understanding (MOU) between Canada’s Chartered Professional Accountants (CPA) bodies and the Institute of Chartered Accountants of India (ICAI). The MOU outlines the criteria by which members of the Canadian and Indian bodies are eligible for membership in the other.

“The global economy requires mobility for its finance and accounting professionals,” says Joy Thomas, president and CEO, CPA Canada. “Providing a clear path to achieving credential recognition benefits for members of both the Indian and Canadian accounting professions while giving both countries access to top talent.” 

The MOU will ensure Canadian qualification standards are upheld while acknowledging equivalency of core knowledge requirements of accounting professionals from both countries. To obtain the Canadian CPA designation, ICAI members will need to take the CPA Canada’s Common Final Examination (CFE). [Learn more about the CFE]

The MOU was officially signed on November 17, 2018 at the CPA Canada headquarters with representatives from the Toronto and Vancouver ICAI chapters in attendance. 

Earlier this month, on November 1, a Reciprocal Membership Agreement (RMA) between CPA Canada and the Institute of Chartered Accountants in England and Wales (ICAEW) took effect. Like the MOU with ICAI, the RMA sets forth the criteria for membership to each other’s professional bodies. [What you need to qualify for the ICAEW CA designation]

“These agreements serve the public interest by providing a pathway for our members to take advantage of career opportunities abroad and by helping top finance and accounting talent to become Canadian Chartered Professional Accountants,” says Thomas.