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The International Qualifications Appraisal Board (IQAB) assesses the admission standards of international accounting bodies and recommends to the provincial institutes of Chartered Accountants in Canada whether –and under what conditions – members of these bodies may become Canadian CAs based on their international qualifications. IQAB negotiates Mutual Recognition Agreements (MRAs) with international accounting bodies (Designated Bodies) whose qualifications processes have been assessed as being substantially equivalent to Canadian CA standards and who can provide Canadian CAs with reciprocal rights to licensure and certification. IQAB works closely with our provincial institutes, which are ultimately responsible for approving its reports and Mutual Recognition Agreements. We work closely with U.S. IQAB – which comprises AICPA and National Association of State Boards of Accountancy (NASBA) representatives – on those reviews in which both groups have a common interest. IQAB's recommendations that have been approved by the provincial institutes reflect fourteen international Designated Bodies whose members are recommended for exemption from the UFE and five bodies whose members are not.
Designated Accounting Bodies
The 14 designated accounting bodies are:
Accounting Bodies with Reciprocal Membership Agreements
Reciprocal membership MOU signed by CA Institutes from Canada and India
The Canadian Institute of Chartered Accountants (CICA) and The Institute of Chartered Accountants of India (ICAI) have signed a Memorandum of Understanding (MOU) on Reciprocal Membership Arrangements. The MOU specifies the criteria by which members of one body are eligible for membership in the other. It was signed by the CICA on behalf of the provincial and territorial Institutes/Ordre of chartered accountants and the Institute of Chartered Accountants of Bermuda, which has long been affiliated with the CICA. The MOU requires ratification by these bodies as well as the boards of directors of the CICA and ICAI. The MOU recognizes the similarity of accounting education for CAs in both countries and will reduce the admission requirements for qualified CAs from India. Under the MOU: - An ICAI member who holds a recognized university degree will be eligible to become a Canadian CA by passing the Canadian Uniform Evaluation (UFE) and meeting the profession’s experience requirements.
- Individuals with a Canadian CA designation will be eligible to become an ICAI member by passing the ICAI’s examinations in corporate and allied laws and tax. This the first time this process has been clearly defined.
For more information, click here.
Non-Equivalent Accounting Bodies
The following five accounting bodies have been assessed and have been determined not to be equivalent:
Accounting Bodies Currently Under Review Members of Non-Assessed Accounting Bodies Accounting bodies who are not Members of Designated Accounting Bodies or Members of Non-Equivalent Accounting Bodies, have not been assessed by the Canadian CA profession's International Qualifications Appraisal Board (IQAB). These are categorized as Members of Non-Assessed Accounting Bodies. As a member of one of these, you are not automatically eligible for exemptions from any education or examination requirement of the Canadian CA program.
To Find Out More
If you are an internationally trained accountant interested in becoming a Canadian CA, click here for more information. 
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