Why is the CA profession allowing CA students to train outside CA firms? Top
The CA profession offers the best training in public practice; with expanded experience opportunities, we will now be able to also offer the best training in the corporate and public sectors. These changes:
- Make it possible for CA firms and select corporate and public sector organizations to create more entry-level positions for CA students; and
- Create more opportunities for qualified university graduates to become CAs, an important step in our strategic initiatives to secure the future supply of CAs and meet the demands of the marketplace.
How are these organizations selected to train CA students? Top
To be approved as a CA Training Office, corporate and government sector employers must develop a CA Training Program that meets the profession’s criteria. You can find out more about the employer approval process at www.catoadvantage.ca. The application to become a CA Training Office must be submitted by the organization and supported by its senior management. The provincial institutes/ordre work closely with each prospective training partner in their jurisdictions to ensure the high quality of the training program that all CA students receive. Corporate and government CA Training Offices, as well as CA firms offering experience outside the traditional route, will offer the same rigour and quality of experience that CA firms provide students pursuing public accounting careers.
How many training positions are there? Top
The profession is at the beginning stages of launching this program with our new training partners. Across Canada, a limited number of employers have developed CA Training Programs and been approved as CA Training Offices. Many others are in progress. Each employer is responsible for determining its recruitment needs and strategies for the approved positions. Only these approved positions qualify for CA training; other positions within these organizations do not provide the necessary experience for CA qualification.
Currently, the number of approved positions is not large. However, those available are highly desirable positions with excellent organizations and, therefore, the competition will be intense. The good news is that the number of positions available will continue to grow over time. In fact, over the next five years, it is anticipated that 10 per cent of all CA students will be training in the corporate and government sectors, or at CA firms in areas other than audit.
Contact your Provincial Institute/Ordre for a complete list of CA Training Offices in the Corporate and Government sectors, as well as a list of CA firms offering experience outside of the traditional public practice route. Note that there are currently no positions in Quebec because of required legislative changes. However, changes are underway and Quebec CA Training Offices are expected to be able to begin recruiting in the near future, so stay posted.
How do I apply? Top
CA Training Offices are responsible for their own recruiting. Many will be recruiting on university campuses across the country each fall and at other times throughout the calendar year. Contact your university placement centre to determine if these employers are recruiting for CA positions at your campus.
Don’t I need audit and assurance experience to become a Chartered Accountant? Top
No. Under the CA profession’s new practical experience criteria, CA students are required to obtain depth in one of the two core competency areas of assurance or performance measurement. Therefore, a student could qualify by achieving depth in performance measurement, and not assurance. However, audit, assurance and tax experience will continue to be mandatory as prescribed by the current chargeable-hour requirements, if the student wants to become eligible to practise public accounting.
With no audit and assurance experience, will I be adequately prepared for the UFE? Top
Yes. CA students with no assurance experience will be required to gain extensive experience in performance measurement. This will be augmented by concurrent professional education programs, which all students undertake during their period of experience to ensure that they all have the required knowledge base in all areas as defined in The UFE Candidates Competency Map, including audit and assurance.
If I train outside public practice, will I be able to practise public accounting? Top
Not when you first qualify as a CA. To be able to practise public accounting, you must meet audit and assurance chargeable-hour criteria that can only be gained in recognized CA firms and in the federal and provincial Offices of Auditors General. However, CAs who qualify in areas outside public practice can get the necessary experience after qualification as a CA. You will not have to rewrite the UFE.
Will CAs who qualify without the experience necessary to obtain their licence to practise public accounting be recognized across Canada? Around the world?Top
Yes. The new qualification process will ensure that the CA designation continues to be fully transportable across Canada and meets the requirements of all of our international mutual recognition agreements.
If I am a CA student currently working at a CA firm in a traditional route, can I transfer to an employer offering one of these new opportunities? Top
While there is nothing in the profession’s practical experience requirements to preclude such a transfer,there will likely be few opportunities to do so in the immediate future. The new training offices have created specific three-year career paths for entry-level CA students and are unlikely to target students with previous CA firm experience.
How do I know if my employer is approved to train CA students?Top
Contact your Provincial Institute/Ordre.
My employer has just been approved to train CA students.How can I register as a CA student? Top
For information on CA student registration, please contact your Provincial Institute/Ordre.
- How can I get more information and/or keep current? Top
To keep abreast of the latest developments, please contact your Provincial Institute/Ordre. New employers are being assessed on an ongoing basis.
