ACCA-CGA/CPA Mutual Recognition Agreement (MRA)

[Manolingam sivakkumar]

Yes

 

[PhdStream]

Hi, one quick question. My wife working towards ACCA and would like to ultimatly complete ACCA and get CPA Ontario through MRA (she started ACCA before we came to Canada and decided use MRA). One of the CPA Ontario requirement is "Have obtained membership in ACCA by successfully completing the final part of the ACCA professional program and satisfying ACCA’s practical experience requirements". Does this means, the ACCA membership that you obtained by completing MSc in Professional Accountancy makes you ineligible from MRA?

 

[AkaTol]

Can someone confirm whether obtaining exemptions for ACCA papers makes you ineligible to use the MRA to convert your ACCA membership to CPA?

Assume the person has a degree, and on the basis of the degree they obtained exemptions for some papers. They've already completed the ACCA and they are now a member.

Can they apply through the MRA even with exemptions?

Someone said that made them ineligible previously in the thread, I just want to confirm that.

From what i read from CPA Ontario, you have to have a degree, be an ACCA member and complete the professional level (they mention final part).

I just want to know if that's the correct interpretation.

You can apply with exemptions as long as you attempted the professional courses.
For the degree part, I'm just not sure if it must be in Accounting.

 

[Islander216]

It doesn't have to be Accounting, the degree is just to ensure you have enough credit hours that are comparable to a degree in Canada. Your ACCA would cover whatever Accounting credits you would need in a degree.

Everyone should know that the MRA has not been renewed, the deadline is 30 April 2021. After this CPA Canada will not accept conversions.

It's actually put me under a bit of pressure now, because i have to become a member before this date, and be able to submit my application as well.

There is also a requirement that your degree has to be assessed on a course by course basis by WES.

 

[AkaTol]

Hi,

I am doing it nowadays, passing criteria is 80% as there are multiple quiz and you can attempt unlimited no. of times until you pass.

Regarding the time I am not sure as the next module appears once you complete the first one.

Hello,
I'm yet to submit my application to CPA Ontario. However, I'm considering paying for the tax and law courses. Can I do that or wait or i will need to wait for a go ahead from CPA?
Also, how far has your application gone? When did you submit?

 

[AkaTol]

It doesn't have to be Accounting, the degree is just to ensure you have enough credit hours that are comparable to a degree in Canada. Your ACCA would cover whatever Accounting credits you would need in a degree.

Everyone should know that the MRA has not been renewed, the deadline is 30 April 2021. After this CPA Canada will not accept conversions.

It's actually put me under a bit of pressure now, because i have to become a member before this date, and be able to submit my application as well.

There is also a requirement that your degree has to be assessed on a course by course basis by WES.

1. The assessment by WES takes only 7 business days.
2. ACCA can submit your LOGS and transcripts within 4 days of notification.
So there is no need to panic, though, I must admit I'm under pressure too.
Do we need to pay before we submit our application?
Also how do we track that CPA has received our documents?

 

[Islander216]

My problem is i'm still lacking PER skills to be certified, now i'm looking for an ACCA approved employer to get them done, and time is dwindling. I need to get that done and apply for membership, then submit my application before the deadline. How long did your membership application take to be processed?

I think you pay the fee when you submit your application, if you're outside Canada then you apply to CPA BC.

I don't think there is a way to track, you can always call their hotline or e-mail them to confirm. I did that when i orderrf the transcript and certificates, but that was when they were sent to me by mail. I just e-mailed them and they responded. I'm sure they can confirm if they've sent it to a third party as well.

 

[AkaTol]

My problem is i'm still lacking PER skills to be certified, now i'm looking for an ACCA approved employer to get them done, and time is dwindling. I need to get that done and apply for membership, then submit my application before the deadline. How long did you membership application take to be processed?

I think you pay the fee when you submit your application, if you're outside Canada then you apply to CPA BC.

I don't think there is a way to track, you can always call their hotline or e-mail them to confirm. I did that when i order the transcript and certificates, but that was when they were sent to me by mail. I'm sure they can confirm if they've sent it to a third party as well.

Ok thanks.
Everyone needs to act fast as I feel the MRA will be cancelled all together.

 

[PhdStream]

It doesn't have to be Accounting, the degree is just to ensure you have enough credit hours that are comparable to a degree in Canada. Your ACCA would cover whatever Accounting credits you would need in a degree.

Everyone should know that the MRA has not been renewed, the deadline is 30 April 2021. After this CPA Canada will not accept conversions.

It's actually put me under a bit of pressure now, because i have to become a member before this date, and be able to submit my application as well.

There is also a requirement that your degree has to be assessed on a course by course basis by WES.

Can you share any link/s that suggest the deadline, April 30, 2021?

 

[Islander216]

https://www.cpaontario.ca/become-a-cpa/why-cpa/internationally-trained-accountants/acca-and-cga-canada-mutual-recognition-agreement

 

[Islander216]

I think you will have to verify with CPA Canada directly.

As far as i know, the requirement is a Bachelor's degree.

 

[binjay]

Actually, I do have a bachelors degree too which is evaluated as a two years post secondary diploma. However, the problem is to get it evaluated by WES, due to this COVID situation :-(

 

[binjay]

I think you will have to verify with CPA Canada directly.

As far as i know, the requirement is a Bachelor's degree.

The requirement is a 3/4 years bachelors degree or a combination of Bachelors and Masters degree

 

[Islander216]

The ACCA qualification does not qualify as equivalent to a Bachelor's degree, under the MRA you have to have a separate Bachelor's degree + ACCA membership to qualify to get the CPA designation.

That's why i'm a bit skeptical that ACCA + MSc from UOL would meet the requirement. But if they confirm it's acceptable then great.

 

[binjay]

The ACCA qualification does not qualify as equivalent to a Bachelor's degree, under the MRA you have to have a separate Bachelor's degree + ACCA membership to qualify to get the CPA designation.

That's why i'm a bit skeptical that ACCA + MSc from UOL would meet the requirement. But if they confirm it's acceptable then great.

They are not sure themselves. I have emailed them several times but they can't tell anything unless I officially apply for the membership.