ACCA-CGA/CPA Mutual Recognition Agreement (MRA)

[LadyMacbeth]

Thanks, However chronological means newest first or oldest first, also work experience on top or education. I know these are silly questions but am damn nervous

I believe the newest should always be on top. There is no specific order (education vs experience), but I always put education before experience. I think these details do NOT matter the least. They just want a resume.
Actually, I believe the entire resume document is just a complimentary document, not of that much importance to application, but of course you need to provide it regardless since they requested it. But it is not like they are going to scrutinise it.

 

[ziadnasir]

Yes, I have COPR, but it expired in March. However, IRCC contacted me that they will extend/renew it once the travel restrictions are lifted. So that's not a problem. After expiration, there will be another MRA, I am sure (this is what they are saying on their website anyway). But I am anticipating it to have more requirements, because this is the way things are headed, even with the current MRA (they added some more req. recently). It doesn't matter if you will travel this year or not, if you still want to travel to Canada some day, then definitely apply to get your CPA. Travel restrictions will be lifted some day!! You really don't have a lot of time left, WES would take a month or so to get it done (assuming you have done the ECA and that you just need to upgrade) because if not, then it will take even longer and you won't be able to meet the deadline.

Oh everything is ready lol. Wes is also submitted to upgrade but wes has some problem in the payment system for my account. It is not able to accept payments from 3 weeks from any card i tried to pay it ( they are still looking into it ). So choose Western union method and payment took another week to reach. But i am not so sure if I should get it now or wait till I actually get to Canada. because it could be that I pay this hefty membership fees for one year but I don't even get to reach Canada for a year with the pandemic.

 

[ziadnasir]

Couple of people i know got the upgrade with in one week. So i guess it depends how long it takes.

 

[LadyMacbeth]

Oh everything is ready lol. Wes is also submitted to upgrade but wes has some problem in the payment system for my account. It is not able to accept payments from 3 weeks from any card i tried to pay it ( they are still looking into it ). So choose Western union method and payment took another week to reach. But i am not so sure if I should get it now or wait till I actually get to Canada. because it could be that I pay this hefty membership fees for one year but I don't even get to reach Canada for a year with the pandemic.

If i were personally to choose, I would definitely do it now and try to get the membership since either way I plan to move to Canada whether this year or next year. The thing is, I am very sure the new MRA will have more requirements. I mean, the current MRA is practically nothing! You only have to pass a silly course and you get your membership, so there is no way the new MRA will be "easier", they will most probably add more requirements. but it also depends on your financial situation, if you are so much in need for this money, then i can see why you would want to wait. However, if you can pay it, I think it is an opportunity to catch.

 

[Randomuser285]

I think you are good to apply. The official website says: All applicants with a university degree must have a minimum of a 3 or 4 year recognized bachelor’s degree (90 or 120 credits Canadian equivalency).

See below link:

https://www.bccpa.ca/become-a-cpa/internationally-designated-accountants/association-of-chartered-certified-accountants-acca-members-application-process/#:~:text=You must have a 3,not meet the degree requirement.

Thanks, but i am applying for CPA Ontario and their requirements say 4 years or 120 credits, you suggest i should apply for CPA BC? But it says i should be residing in Canada which I am not

 

[LadyMacbeth]

Thanks, but i am applying for CPA Ontario and their requirements say 4 years or 120 credits, you suggest i should apply for CPA BC? But it says i should be residing in Canada which I am not

Sorry I didn't realise this was BC, I thought it was CPA Canada. I personally did not read anywhere that CPA Ontario specifically requires a 4 year bachelor with 120 credit. All I read that they need a bachelor's degree. If you did read it, then defiantly do not pay up the fees just yet. I'd recommend in this case that you email them and ask if this will be accepted, they may settle for it. Because for example they require references who are CPA qualified and when I emailed them they allowed me to provide ACCA qualified references. So it could happen and it wouldn't hurt to ask

 

[Randomuser285]

Sorry I didn't realise this was BC, I thought it was CPA Canada. I personally did not read anywhere that CPA Ontario specifically requires a 4 year bachelor with 120 credit. All I read that they need a bachelor's degree. If you did read it, then defiantly do not pay up the fees just yet. I'd recommend in this case that you email them and ask if this will be accepted, they may settle for it. Because for example they require references who are CPA qualified and when I emailed them they allowed me to provide ACCA qualified references. So it could happen and it wouldn't hurt to ask

I actually did, and they are not giving me clear answers, they say you need to apply first only then we will tell you, however this is the link they sent me

https://media.cpaontario.ca/stewardship-of-the-profession/pdfs/Regulation-7-1.pdf

Do you suggest i should apply for CPA BC? Coz it says you should be eligible to work lawfully in canada which is not clear to me

 

[ziadnasir]

If i were personally to choose, I would definitely do it now and try to get the membership since either way I plan to move to Canada whether this year or next year. The thing is, I am very sure the new MRA will have more requirements. I mean, the current MRA is practically nothing! You only have to pass a silly course and you get your membership, so there is no way the new MRA will be "easier", they will most probably add more requirements. but it also depends on your financial situation, if you are so much in need for this money, then i can see why you would want to wait. However, if you can pay it, I think it is an opportunity to catch.

Yeah I have left it after wes if they give report before 30 april I will pay .. otherwise I guess i can wait untill i actually get to canada.

 

[Fhussain]

I actually did, and they are not giving me clear answers, they say you need to apply first only then we will tell you, however this is the link they sent me

https://media.cpaontario.ca/stewardship-of-the-profession/pdfs/Regulation-7-1.pdf

Do you suggest i should apply for CPA BC? Coz it says you should be eligible to work lawfully in canada which is not clear to me

Hello,

If you are going to settle in Ontario and have that many credit hours, as you mentioned, for your bachelors only then don't waste time, apply immediately, you should be ok..

 

[Randomuser285]

Hello,

If you are going to settle in Ontario and have that many credit hours, as you mentioned, for your bachelors only then don't waste time, apply immediately, you should be ok..

Thanks, I will start right away, the only problem is 1 know only one ACCA member to sign my refree form, so will need to find one more

 

[PhdStream]

Hi has there been any news on what will happen after April 30, 2021? I tries CAP BC website but nothing. Also, I am not entering right key words on google to do my search, it wont show any useful thing other than some redit discussions.

 

[Greta90]

Hurry up guys, I was notified from ACCA Canada today that the MRA is not renewed so at the end of April it will expire and all ACCA members will have to go through through overall IFAC members requirements so there will be exams to be given and extra requirements

 

[Greta90]

As below the full email

Last year, ACCA and CPA Canada updated you about our work to negotiate the new terms of our legacy Mutual Recognition Agreement (MRA) which ends on April 30, 2021. I am now writing to update you on developments as we have now concluded discussions on future member recognition. ACCA members will continue to be provided with a route to CPA Canada membership, however the route will not be part of a reciprocal arrangement and will include examination requirements. I am disappointed to report this news, despite ACCA and CPA Canada cooperating extensively on attempts to reach an agreeable outcome. I know this will be a disappointment to you too, and so we want to share with you the reasons why, to explain next steps and what this means for you.​

Background and reasons​

In 2017, ACCA and CPA Canada commenced a reciprocal review of the legacy Mutual Recognition Agreement (MRA). CPA Canada unilaterally served a years’ notice on the legacy MRA with ACCA, effective from May 1, 2020. Since last May, we have been in discussions with CPA Canada to conclude discussions on terms for a new agreement. CPA Canada’s final offer on terms was confirmed to us on March 19. It is unfortunate that agreement on new terms could not be reached. This was because after very careful consideration, we concluded that CPA Canada’s new terms did not fairly recognize the quality and standard of your ACCA Qualification, and at a level consistent with ACCA’s global benchmark. Ultimately, what was put forward to us did not recognize the integrity of the ACCA designation and members’ best interests, which have been central to ACCA’s decision making throughout discussions with CPA Canada. These terms gave us no parity with CPA Canada’s Reciprocal Membership Agreements with other professional bodies. We think this is unfair especially as the ACCA Qualification holds the same external recognition as these bodies. In summary, the member requirements CPA Canada asked for are significantly greater than those expressed in the current terms in the legacy MRA.​

What does this mean for you?​

For those of you who are members of the CPA Canada profession who entered via the legacy MRA, please be assured that this change will have no impact on your ongoing membership with your CPA Provincial body and CPA Canada. Under their provision to recognize members of IFAC member bodies, CPA will continue to provide a route to membership for ACCA members outside of a separate agreement. Information is available on the CPA Canada website here. ACCA’s relevance in the corporate and public sector in Canada is not impacted by this decision – we believe the strength of the ACCA brand globally and in Canada means that members and future members are in demand by employers, and will remain so. We will continue to work to champion the value ACCA members bring to the profession in Canada, and its economy. For access to regulated roles, such as audit, ACCA members will need to liaise with their local CPA Canada provincial body as the competent authority of the regulated profession. We are also working with our Market Teams in other jurisdictions whose members, future members and stakeholders are potentially impacted by this development to communicate relevant and consistent messages.

How we will support you?​

Please be reassured that we advocated strongly for the ACCA Qualification, but we have no option other than to decline the terms for the recognition of ACCA members offered by CPA Canada. ACCA is the global professional body and will continue to support you - wherever you may choose to study and work. You can be confident that your ACCA Qualification and membership continues to be valued by employers, and that the ACCA Qualification is robust, being governed by the highest standards. We remain committed to working with CPA Canada to negotiate a way forward. The door is not closed and our relationship is collaborative. We both believe that dialogue about the value of the profession in Canada - and globally - is important.​

 

[PhdStream]

As below the full email

Last year, ACCA and CPA Canada updated you about our work to negotiate the new terms of our legacy Mutual Recognition Agreement (MRA) which ends on April 30, 2021. I am now writing to update you on developments as we have now concluded discussions on future member recognition. ACCA members will continue to be provided with a route to CPA Canada membership, however the route will not be part of a reciprocal arrangement and will include examination requirements. I am disappointed to report this news, despite ACCA and CPA Canada cooperating extensively on attempts to reach an agreeable outcome. I know this will be a disappointment to you too, and so we want to share with you the reasons why, to explain next steps and what this means for you.​

​ Background and reasons​

​ In 2017, ACCA and CPA Canada commenced a reciprocal review of the legacy Mutual Recognition Agreement (MRA). CPA Canada unilaterally served a years’ notice on the legacy MRA with ACCA, effective from May 1, 2020. Since last May, we have been in discussions with CPA Canada to conclude discussions on terms for a new agreement. CPA Canada’s final offer on terms was confirmed to us on March 19. It is unfortunate that agreement on new terms could not be reached. This was because after very careful consideration, we concluded that CPA Canada’s new terms did not fairly recognize the quality and standard of your ACCA Qualification, and at a level consistent with ACCA’s global benchmark. Ultimately, what was put forward to us did not recognize the integrity of the ACCA designation and members’ best interests, which have been central to ACCA’s decision making throughout discussions with CPA Canada. These terms gave us no parity with CPA Canada’s Reciprocal Membership Agreements with other professional bodies. We think this is unfair especially as the ACCA Qualification holds the same external recognition as these bodies. In summary, the member requirements CPA Canada asked for are significantly greater than those expressed in the current terms in the legacy MRA.​

​ What does this mean for you?​

​ For those of you who are members of the CPA Canada profession who entered via the legacy MRA, please be assured that this change will have no impact on your ongoing membership with your CPA Provincial body and CPA Canada. ​ Under their provision to recognize members of IFAC member bodies, CPA will continue to provide a route to membership for ACCA members outside of a separate agreement. Information is available on the CPA Canada website here. ​ ACCA’s relevance in the corporate and public sector in Canada is not impacted by this decision – we believe the strength of the ACCA brand globally and in Canada means that members and future members are in demand by employers, and will remain so. We will continue to work to champion the value ACCA members bring to the profession in Canada, and its economy. ​ For access to regulated roles, such as audit, ACCA members will need to liaise with their local CPA Canada provincial body as the competent authority of the regulated profession. ​ We are also working with our Market Teams in other jurisdictions whose members, future members and stakeholders are potentially impacted by this development to communicate relevant and consistent messages.

​ How we will support you?​

Please be reassured that we advocated strongly for the ACCA Qualification, but we have no option other than to decline the terms for the recognition of ACCA members offered by CPA Canada. ACCA is the global professional body and will continue to support you - wherever you may choose to study and work. You can be confident that your ACCA Qualification and membership continues to be valued by employers, and that the ACCA Qualification is robust, being governed by the highest standards. We remain committed to working with CPA Canada to negotiate a way forward. The door is not closed and our relationship is collaborative. We both believe that dialogue about the value of the profession in Canada - and globally - is important.​

Thanks for sharing this. This is disappointing ...

 

[Sam_4321]

Hi guys one more question, as per WES Evaluation i have been given 105 credits and 3 year degree equivalency for my Bachelor's degree, should i apply under this MRA irrespectively or I'm sure to get rejected
A question worth 1300 CAD

Hi there! what was your bachelors degree in and where was it from ?