The Association of Chartered Certified Accountants (ACCA) is a world-renowned professional accounting body. Headquartered in the United Kingdom, ACCA boasts over 200,000 members and 500,000 students in 180 countries. So it's no surprise that many Canadian students wonder if ACCA is recognized in Canada.
Read on to learn more about how you can use your ACCA designation to further your career in Canada.
- MRA between CPA Ontario and ACCA was terminated on April 30, 2021
- Median annual Average salaries for ACCA members are between CAD 80,000 to CAD 120,000
- Students can take exams in Canada from ACCA-approved centres
- Huge unmet demand for Chartered accountants post-pandemic, resulting in a 25% jump in salaries post COVID-19
- Big4, Telecom, Banking and retail are the major recruiters.
Mutual Recognition Agreement (MRA) between CPA Ontario and ACCA U.K.
ACCA and CPA Canada entered into an MRA in 2016, which allowed automatic admission to the membership for an ACCA member with CPA Ontario.
However, this MRA was terminated on April 30, 2021. Both the bodies ACCA for a renewal of the agreement, but no definite date has been put forth.
Students can still apply for membership in CPA Ontario via the membership of accounting bodies outside Canada. Read the CPA Ontario site to know the process further.
Can you study ACCA while living in Canada?
ACCA is the world's largest professional accounting body, with over 200,000 members in 180 countries. , Therefore, ACCA membership is widely recognized and an excellent asset to anyone looking to pursue a career in accounting.
ACCA offers students the option of taking exams at their special exam centres based in Montreal. Students will need to book these centres via their Myacca login.
You can study for ACCA in Canada through an online distance learning course. With an online ACCA course, you can study from anywhere in Canada, anytime during the year. We recommend that students take the BPP Online training course and BPP books. These are priced around CAD 85 - 90 for the course and CAD 33 to 35 for the Ebooks.
Students can also read other useful links relating to the ACCA exams.
- All about the ACCA course
- Is ACCA worth it? Pros and Cons
- ACCA Pass rates
- ACCA exam dates and timetable
- ACCA Exam passing tips
- ACCA subjects list
How to find a job in Canada as an ACCA member?
Achieving your ACCA qualification opens up a whole host of employment opportunities in Canada. Since the 1980s, ACCA has been operating a global jobs board. This online database allows members to post jobs and employers to search for potential candidates.
So if you're looking for a job in Canada, you can search the jobs database. ACCA also offers several career development services to help you build a network and find your next job. These include practice-related events and job fairs, professional networking and mentoring.
Apart from the ACCA jobs board, recruiters do put job postings on Adecco, Indeed and Linkedin.
What is the kind of ACCA jobs in Canada?
ACCA members have access to a vast global network that can provide them with employment opportunities worldwide. However, ACCA members can also use their membership to find jobs in Canada.
The following firms hire ACCA members in Canada: - Ernst and Young - PWC - KPMG - Deloitte - Grant Thornton - BDO - RSM - Haskins Bowe - Leatrice Eisman - Bluestone - Turner Drake - Trowbridge - JL Roper - Cohn & Wolfe.
What is the average salary of ACCA in Canada?
Accountants and auditors in Canada earn an average annual salary of CAD 80,000, while chartered accountants (CAs) in Ontario earn around CAD 100,000 annually.
What can a CPA Ontario membership mean for ACCA members?
ACCA members in Canada can also earn membership in the Chartered Professional Accountants of Ontario (CPA Ontario). This can be achieved through completing three CPA Ontario exams, having 30 months of practical work experience, and having knowledge of CPE requirements.
CPA Ontario membership is helpful as
- It provides added recognition, especially in Canada. It also confers several other benefits, like added credibility and recognition,
- More accessible access to government contracts, and more.
- CPA Ontario members can also transfer their membership to other Canadian provinces, increasing their potential earnings.
- CPA certification shows you have the competence and skills necessary to succeed in accounting. This can be beneficial when applying for positions and during salary negotiations.
- Finally, CPAs are typically given more responsibility and higher-paying jobs than non-certified accountants, so becoming certified can lead to increased earning potential over time.
You must complete the ACCA qualification to work as an accountant in Canada. ACCA is recognized and has a strong reputation worldwide, and it is also accepted to be equivalent to the CPA qualification in Ontario.
But, you can study for ACCA online, which is accessible to everyone – even if you live abroad. Completing your ACCA qualification is a great way to start a career as an accountant in Canada.
There is no limit to the number of times you can attempt the ACCA exams, but you will need to pay the exam fees each time you register. It's a good idea to carefully review the exam syllabus and consider seeking additional help if you are struggling to pass the exams after multiple attempts.
Yes, ACCA offers exemptions for certain exams for candidates who have completed certain academic programs or have relevant professional qualifications. To request exemptions, you will need to provide documentation and submit an exemption application to the ACCA. Review our comprehensive exemptions calculator to know more.
The pass rate for the ACCA exams varies from exam to exam and from year to year. In general, the pass rate for the ACCA exams is between 35% to 50%. Read our blog on subject wise pass rates to know more.
No, not at all. If you're proficient in the key subjects, then getting a high percentage means very little. The focus should be on becoming knowledgeable and skilled in the core areas of accounting, taxation and finance. Passing exams is simply a formality.
That being said, a high score still looks good on paper and may open doors when applying for jobs. But ultimately, it's your understanding of the material that will matter most in your career.
The ACCA (Association of Chartered Certified Accountants) membership provides numerous benefits, including:
- Professional development opportunities, such as access to the latest technical resources, CPD modules and e-learning tools
- A global community of like-minded professionals to collaborate and share knowledge with
- The ability to connect with employers through the ACCA Jobs service
- Eligibility for reduced rates on a range of products and services, such as insurance, stationery and more
The consequences of non-payment of the annual subscription fees are
As a member:
1) you can't call yourself an ACCA member, and you won't be able to use the ACCA name or logo.
2) You also won't be able to use any resources, including the online resources.
3) if you're working as an accountant, you may be unable to use the term "ACCA-qualified" or "ACCA-registered".
4) If your membership expires and isn't renewed within three years. In that case, your name will be removed from the Register of Members.
5) If you need to apply for CPA accreditation with another accounting body like CPA Australia or Canada, you will be required to furnish a good standing certificate from ACCA for five years. If you haven't paid your membership fees, you won't be able to get your good standing letter
As a student
1) You will not be able to use the members' website or log into MyACCA. You will lose access to many resources, including past exam papers and helpful articles.
2) You will no longer be eligible to sit the examinations or progress through the qualification.
3) You won't be able to pursue any other qualifications like the DIPIFR
If this is something that happens accidentally, then it is usually quickly resolved by simply paying the outstanding amount of 89 GBP.
If you're looking to become a chartered accountant in the United States, the value of the ACCA qualification cannot be understated.
To be accepted into one of the regional accountancy bodies that confer chartered status (such as the AICPA), you must have completed an accredited course of study from a college or university and have spent at least two years working in the accounting field.
The Association of Chartered Certified Accountants is globally recognized as one of the leading institutions for providing such accredited courses, and their stamp of approval on your degree will go a long way in getting your foot in the door with some of the top accounting firms in America.
It is a difficult question because it depends on your specific situation and goals.
However, in general, we would say that the CA (Chartered Accountant) certification is better for those interested in pursuing a career in accounting and finance.
In comparison, the CFA (Certified Financial Analyst) certification is better for those interested in investment banking or portfolio management.
The ACCA (Association of Chartered Certified Accountants) certification is more internationally recognized than the CA or CFA, so it may be worth considering if you're interested in working abroad.
Ultimately, though, the best way to decide which certification is proper for you is to speak with experts in each field and get their advice.
The decision of whether ACCA or a degree is better for you depends on your individual goals and circumstances.
ACCA is a professional accounting qualification that is recognized and respected globally and it is focused on accounting and finance. It is a good option for those who want to pursue a career in accounting or finance and do not want to spend the time and money required to earn a degree.
On the other hand, a degree program offers a more well-rounded education and provides a broader range of career options. It also provides more in-depth knowledge in specific field of study and it is good for those who want to pursue a career in a field outside of accounting and finance.
Both ACCA and a degree can be valuable qualifications, it depends on the person's career goals and what they want to achieve in the long term. It's also worth noting that in some countries, it is mandatory to have a degree in order to practice as an accountant.
The 15 subjects in ACCA are
- Business & Technology (BT)
- Management Accounting (MA)
- Financial Accounting (FA)
- Corporate and Business Law (LW)
- Taxation (TX)
- Performance Management (PM)
- Financial Reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
- Strategic Business Leader (SBL)
- Strategic Business Reporting (SBR)
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
- Advanced Audit and Assurance (AAA)