prseeker said:
next2015,
I appreciate your response. I thought canada has CGA and CA certifications which are considered equivalent of US CPA. Is CPA Canada recognized by canada job market? I am a licensed CPA from Illinois, USA. How long will it take me to receive CPA Canada license from Ontario?
You would be better served using google. Regardless, here is the information you requested:
http://www.nysscpa.org/cpajournal/1999/1299/f401299a.html
CARE
The IQEX equivalent for U.S. CPAs to obtain Canadian reciprocity is the Chartered Accountants Reciprocity Examination (CARE). CARE is administered to U.S. CPAs and members of the institutes of chartered accountants of England and Wales, Scotland, Ireland, South Africa, and New Zealand.
In Canada, the CA designation is granted by 12 individual provincial and territorial institutes. To become a member of an institute and receive the CA designation, candidates would generally have to--
* earn a university degree and pass selected courses required by the institute, some of which may be part of a degree program;
* work for 30 months in a public accounting firm designated to train students;
* complete the school of accountancy, run by the institute to integrate academic and practical experience and to develop problem-solving and judgment skills; and
* pass the CA profession's 4-day, 16-hour Uniform Final Examination (UFE).
U.S. CPAs and members of the qualifying foreign institutes may bypass the normal procedures via CARE. Upon passing, a CPA will have satisfied all of the necessary educational and examination requirements to become a chartered accountant in Canada.
CARE consists of two three-hour papers written over two consecutive days. It tests knowledge comprehension and limited application of knowledge in the areas of Canadian GAAP, GAAS, taxation, business law, and rules of professional conduct. The five-part structure of the exam with the time allocated to each subject follows:
CARE/Day One Time Allocation
Accounting 80100 minutes
Auditing 80100 minutes
CARE/Day Two Time Allocation
Canadian taxation 80100 minutes
Rules of professional conduct/ethics 4960 minutes
Canadian business law 3240 minutes
CARE consists of a mix of multiple-choice and single-subject questions, problems, and short situation cases. The exam does not directly test analysis, synthesis evaluation, or similar higher-order skills. CARE is a closed-book examination offered annually in late October or early November by many of the provincial institutes.
Table 4 contains CARE statistics for all accountants sitting for the exam over the past four years. Passing rates range from 56% to 82% with a mean of 74% over the period. CPAs normally account for about one-third of the total number of CARE candidates. Of the 21 CPA candidates in 1998, 14 passed.
