Is ACCA recognized in Canada?

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Is ACCA recognized in Canada?

Introduction of ACCA

Many students who wish to start a prosperous career overseas choose the ACCA course since it is one of the most esteemed credentials in accounting. The Association of Chartered Certified Accountants, often known as the ACCA, is a rapidly expanding international accountancy organization with more than 2,00,000 members and more than 5,00,000 students with a representation in more than 180 countries. The ACCA program covers all facets of company accounting, making it one of the most coveted and useful qualifications. Many Corporate Businesses are looking for ACCA specialists to manage their Accounts, Finance, and Analysis Functions. In addition, an ACCA has a lot of employment options with attractive pay scales.

So, if you are thinking “Is ACCA recognized in Canada?” Well, it is. Let’s get to know all about it.

Top Accounting Firms in Canada

There are many well-reputed MNCs and native companies that prefer the ACCA certification while hiring ACCA professionals, which answers the big question – Is ACCA recognized in Canada? 

According to revenues earned, the list of the Top Accounting Firms in Canada is shown below.

  • DELOITTE LLP (Toronto) – Deloitte LLP, the Canadian branch of Deloitte Touche Tohmatsu Limited, offers consultancy, financial and risk advising, and audit & assurance services to its clients.

Managing Partner and CEO – Frank Vettese

Revenue FY 2015 – 2088 Million (source)

Revenue FY 2017 – $2300 million (source)

  • KPMG LLP (Toronto) – One of the leading accounting companies in Canada, KPMG LLP offers services in the areas of audit, tax, and advisory practice and is present in over 40 different Canadian cities. 

Senior Partner and CEO – Elio Luongo

Revenue FY 2015 (in Canadian Dollars) – $1324.16 million (source)

Revenue FY 2017 (in Canadian $) – $1446 million (source)

  • PricewaterhouseCoopers (PwC) (Toronto) – PwC Canada has been in business for 110 years and is a member firm of the worldwide PwC network. It has more than 6700 partners and runs out of 26 locations across Canada. In addition to offering expert services in taxation, audit, and consultancy, it is a major supporter of workplace inclusion and diversity.

CEO – Nicolas Marcoux

Revenue FY 2015 (in Canadian Dollars) – $1290.00 million (source)

Revenue FY 2017 (in Canadian $) – $1,428 (source)

  • ERNST & YOUNG (EY) LLP (TORONTO) – The present Ernst and Young, established in 1849 in England with the formation of Harding and Pullein, was created in 1989 with the union of Ernst & Whinney and Arthur Young & Co. The business changed its name to EY in 2013. The Canadian branch of Ernst & Young LLP provides auditing, taxation, transaction consulting, assurance, and financial advisory services. 

Chairman & CEO – Jad Shimaly

Revenue FY 2015 (in Canadian Dollars) – $1111.00 million (source)

Revenue FY 2017 (in Canadian $) – $1397 million (source)

  • COLLINS BARROW (TORONTO) – The eighth-largest firm of chartered accountants in Canada, Collins Barrow is renowned for its mid-market alternatives in audit, tax, and consulting solutions. It belongs to Baker Tilly International, the world’s eighth-largest accounting and business consultancy network based on total fee income.

Headquarters – Waterloo, Ontario

Revenue FY 2015 (in Canadian $) – $213.50 million (source)

  • GRANT THORTON CANADA – Leading Canadian accounting and business consulting company Grant Thorton LLP offers audit, tax, and advisory services to businesses of all shapes and sizes. It is the ideal workplace for skilled and driven individuals and has been recognized as one of the best workplaces in 2017 and 2018.

Executive Partner and CEO – Kevin Ladner

Revenue FY 2015 (in Canadian $) – $597.00 million(source)

  • MNP LLP (Previously known as Meyers Norris Penny) – MNP is a leading accounting business in Canada that was established in 1958 and provided services in assurance and consulting, accounting, taxation, enterprise risk, valuation, etc. MNP has received the Best Employer in Canada accolade for the eleventh consecutive year.

CEO – Jason Tuffs

Revenue FY 2015 (in Canadian Dollars) – $597.00 million(source)

Revenue FY 2016 (in Canadian $) – $ 660 million (source)

  • BDO CANADA LLP – BDO Canada has nearly 90 years of expertise in taxes, consulting services, outsourcing services, assurance, and accounting. It was founded in 1921 by Colonel James M. Dunwoody. BDO Canada, which began in a modest office in Winnipeg, has come a long way and now has more than 100 sites across the country.

CEO – Pat Kramer

Revenue FY 2015 (in Canadian $) – $534.00 million (source)

Revenue FY 2017 (in Canadian $ – $ 609.5 million (source)

So, if you are someone wondering – Is ACCA recognized in Canada? It is well-established that not only it is recognized, but also provides job opportunities in the top companies.

Best Institute For Acca In India How To Choose Best Institute In 2022
Best Institute For Acca In India How To Choose Best Institute In 2022

Is ACCA equivalent to a Degree?

Several nations worldwide recognize the ACCA as a professional qualification or degree, making it affirmative for the question – is ACCA recognized in Canada. It is provided by an organization of the same name that is acknowledged globally and has a long history of good standing. For the motive of making credits toward a master’s degree or an advanced study program, the credits earned while pursuing the ACCA Qualification may be utilized. In fact, in certain nations, such as the UK, an ACCA qualification is even regarded as being equal to a master’s degree!

If you finish all the required papers for this degree, your ACCA will be comparable to a three-year Canadian degree and this answers your question – Is ACCA recognized in Canada?. However, you must ensure that your evaluation is conducted by a reputable organization, such as World Education Services (WES). It is a very straightforward process to have your degree acknowledged in Canada.

All that is required for you to do is:

  • Get your transcripts and a letter from the ACCA board stating that you are a member to be sent to the WES. 
  • You must submit immediately to the ACCA board any certifications you may have obtained from the board, such as professional-level qualifying certificates or other certificates.
  • Give the World Education Services your reference number, which you may acquire after registering and making a payment.

ACCA Recognition in Canada: Is ACCA recognized in Canada?

In Canada, ACCA, frequently referred to as the Association of Certified Chartered Accountants, is not now directly recognized. The ACCA and CGA Canada made a mutually recognized agreement to allow ACCA experts to work in Canada. The terms of this agreement permitted ACCA professionals to directly practice accounting in Ontario, Canada. But this contract wasn’t extended till today; it was set to expire in April 2021. The excellent news is that this agreement expiry does not spell doom for ACCA practitioners. There is also another route for ACCA professionals to become CPAs in Ontario; it is known as a “member of an accounting body outside of Canada.”

Does ACCA have value in Canada?

The ACCA is regarded as a bachelor’s degree for immigration purposes. In addition, an MRA exists between ACCA and CPA Canada; to fulfill CPA Canada’s membership requirements, members must complete the Overview of Canadian Tax and Law course that CPA Canada offers under the MRA. Therefore, it is clear that the ACCA certification is valued in Canada since it plays a role in both the immigration process and obtaining a Canadian CPA. 

Employers who have received ACCA approval in Canada include PwC, KPMG, Citco, and State Street. Many major businesses, including RBC, CIBC, Brookfield Private Equity, government agencies, and others, employ ACCA members in Canada. Other firms they work for include EY, Deloitte, BDO, MNP, and Deloitte.

Can I do ACCA in Canada?

If you are a resident of canada and intend to do the ACCA course then one question that must be popping in your mind should be – Is ACCA recognized in Canada?

The Toronto School of Management is the only ACCA-approved learning institution that offers face-to-face learning, even though ACCA’s website lists several ACCA learning providers in Canada. The remaining educational institutions provide online learning that may be accessed from practically anywhere. If you are an Indian student who specifically wants to pursue ACCA to work in Canada, learn from an Approved Learning partner in India (Northstar Academy) that can assist you with work opportunities in Canada. Additionally, by delivering local CPD programming, which is of interest, ACCA supports its members and potential members. For the benefit of its Canadian members, the ACCA provides a number of CPD webinars that are available on demand.

How to find ACCA Jobs in Canada?

Now when you get the answer to your question – Is ACCA recognized in Canada then you must also know that for ACCA members in Canada, there are a tonne of work options. ACCA professionals can work in prestigious multinational corporations in India before requesting relocation to Canada. There are other websites as well that are excellent for looking for ACCA employment in Canada. The official account of ACCA Canada on LinkedIn is where they offer networking and employment opportunities that are only available to ACCA members. The following is a list of a few of the most prominent portals:

  • Linkedin
  • Monster.com
  • Indeed
  • Government of Canada Job Bank

Keep in mind that in accordance with the rules, ACCAs are required to apply for a Social Insurance Number (SIN) to work in Canada. The Canadian government provides a variety of job openings and career resources for several industries. A Social Insurance Number (SIN) application must be made by ACCA members shortly after they arrive in Canada, per the instructions provided on their website, to be eligible for employment. In addition, ACCA members could find the Government of Canada Job Bank to be a handy tool for locating good work prospects.

Companies Hiring ACCA Holders

Many top companies & organizations in Canada employ ACCAs. Most of these businesses are multinational corporations (MNCs) with branches worldwide. Here is a look at the top Canadian companies that hire ACCA professionals.

  • Deloitte LLP
  • Grant Thornton Canada
  • Collins Barrow
  • KPMG
  • BDO Canada
  • MNP LLP
  • Ernst & Young
  • PricewaterhouseCoopers (PwC)

ACCA Salaries in Canada

Even though the ACCA credential is not recognized by the Canadian government as a Chartered Accountant credential, it can still be useful in getting employment in the financial and accounting industry. Additionally, in Canada, the ACCA certificate is comparable to a three-year degree; thus, you can apply for a master’s degree using your ACCA degree as your base. Your Express Entry profile might benefit from adding it if you’re applying for Canadian permanent residency. Following ACCA, you may expect to earn the following salary.

  • Entry Level – CAD 62,300 (source)
  • Mid Senior Level – CAD 82,500 (source)
  • Senior Level – CAD 110,000 (source)

Below is the table for different ACCA jobs by salary details:

Job Title Range Average
Accountant ₹172k – ₹729k ₹348,171
Chartered Accountant ₹364k – ₹2Mn ₹985,808
Finance manager ₹197k – ₹2Mn ₹967,750
Auditor ₹300k – ₹2Mn ₹625,710
Associate Auditor ₹252k – ₹839k ₹398,739
Finance Analyst ₹270k – ₹2Mn ₹478,456

Conclusion

While discussing whether Is ACCA recognized in Canada we can conclude that when it comes to impressing potential employers or clients, the ACCA certification provides you with the upper hand over other credentials. With regard to your career, it can help you stand out from the crowd and get chosen over others who lack certification. Canada, Singapore, and Australia are just a few more than 180 nations accepting the ACCA qualification. We can assist you if you’ve decided to become a worldwide CA and are thinking about your next step. Getting ready for the certification exam has been made simple with thorough advice from NorthStar Academy.

Get an all-inclusive ACCA certification course with extensive BPP Learning Media study materials and online assistance through courses and doubt-clearing sessions. Grab this chance to enroll in the ACCA course at NSA and earn the most sought-after certification in accounting and finance.

FAQs (Frequently Asked Questions)

  1. Is the ACCA Recognized in Canada?

Ans. Right now, Canada does not officially recognize the ACCA (Association of Chartered Certified Accountants). A Mutual Recognition Agreement (MRA), which permitted ACCA members to be accepted to CPA Ontario automatically, was in place between CGA Canada and ACCA; however, it was terminated in April 2021.

  1. What is ACCA equivalent to in Canada?

Ans. If you pass the first nine examinations and are still wondering “Is ACCA recognized in Canada? then you must know that the ACCA Qualification is roughly comparable to the degree standard (the Fundamentals level). A master’s degree is what you receive when you complete the Professionals level.

  1. What does ACCA do in Canada?

Ans. Even though there is no official acceptance of the ACCA designation in Canada for the profession of public accounting, many of its members are employed in business, education, government, and other fields. To employers and recruiters in Canada, members must present proof of their education and training. So, if you are planning to move to Canada but thinking – Is ACCA recognized in Canada, you need to sign up for Express Entry and wait for an Invitation to Apply (ITA) from Immigration, Refugee and Citizenship Canada (IRCC). 18-Nov-2021

  1. Does ACCA have signing authority in Canada?

Ans. Accounting students often wonder about the big question – is ACCA recognized in Canada or not. Due to a partnership between the ACCA and CPA Canada, ACCA members may now work as public accountants with signature power. Accounting professionals might discover acceptable employment prospects in nations like Citco, KPMG, BDO, State Street, and Deloitte.

  1. Which country is best for ACCA?

Ans. One of the nations with the greatest number of accountants working there is Singapore. One of the most sought-after credentials in this area is ACCA certification. In nations where there are no limits on their ability to work, an ACCA professional may practice. There is recognition for ACCA professionals in nations including Canada, Singapore, the UK, Dubai, Australia, Japan, Malaysia, New Zealand, Germany, South Africa, Ireland, Switzerland, and others.

  1. Is ACCA called a chartered accountant?

Ans. Yes. You can use the ACCA post-nominals and refer to yourself as a chartered accountant if you have passed the tests and obtained the necessary practical experience.

  1. Is ACCA considered a Master’s in Canada?

Ans. If you pass the first nine examinations, the ACCA Qualification is roughly comparable to the degree standard (the Fundamentals level). A master’s degree is what you receive when you complete the Professionals level.

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