The Canadian CPA profession and the Association of Chartered Certified Accountants (ACCA) are negotiating a new agreement that determines how members of their profession can obtain the name of the other. The ACCA qualification is beneficial for many reasons, one of which is the global career prospect. You can see the comparison between ICAN & ACCA here. If you practice accounting globally, if you work in transnational companies or simply from Nigeria, for example to transfer to Great Britain, Canada or Australia, you should strive to obtain your ACCA qualification. In 2011, CGA Provincial Bodies and CGA Canada signed the existing Mutual Recognition Agreement (MRA) with the Association of Chartered Certified Accountants (ACCA). Following the association of Canada`s three individual accounting bodies in 2014, the commitments of each CGA body that was a party to the agreement were transferred to the new CPA body for that jurisdiction. With the exception of CPA Bermuda, which did not have a former CGA entity, and CPA Québec, which terminated the ACCA on October 17, 2012, the new PCA bodies continued to maintain the agreement. On April 8, 2020, CPA Canada ACCA sent a notice of termination through the MRA to terminate the MRA with effect from April 30, 2021. Over the past two years, ACCA and CPA Canada have collaborated on important initiatives, including a major joint research project on how accountants can help close the infrastructure gap, as well as cooperation in public sector activities. Each of them is committed to promoting the overall mobility of accountants and will continue to have pathways to their respective names for internationally trained professional accountants. If so, subscribe to Cloout – A weekly newsletter that offers smart analysis of African business and policy stories for Africans and people who love Africa. If you are a reputable member of ACCA, U.K. You can qualify for CPA Ontario membership under the Mutual Recognition Agreement (MRA) between CGA Canada and ACCA in the United Kingdom.
If you are admitted to CGA Ontario, due to the standardization of the accounting profession, you will automatically be admitted to CPA Ontario and you will be entitled to use the terms CPA, CGA in Ontario. In order to support the government`s vision, we have signed a long-term strategic partnership agreement with the prestigious local audit body of the United Arab Emirates – AAA (Accountants and Auditors Association) – to improve the financial sector in the United Arab Emirates: members of the two bodies applying under the terms of this agreement should also remain members of their initial designation. This MRA reinforces the excellent relationship between our two bodies and has already offered many qualified members of each association a way to become members of the other body and enjoy the benefits of both. This includes increasing international recognition and improving professional mobility. In 2020, we renewed our existing Mutual Recognition Agreement (MRA) with the Institute of Certified Public Accounts (HKICPA) in Hong Kong. The renewed agreement expires on June 30, 2025. The negotiation process between CPA Canada and ACCA for a new agreement has already begun and will continue in the coming months. In most cases, you wouldn`t do the review work alone – it`s usually a lot of work when the review job is shared, is the person signing the verified conclusion more special or more important than the other people who also did the review work? Well, it`s controversial, but for me no, she/he isn`t. The fight between ICAN and ACCA is about market share and quality. If more people choose ACCA as an alternative to ICAN, then go more exam fees and annual ACCA subscription fees, which is now a lot….