CANADIAN IMMIGRATION NEWS

Canadas need for chartered accounts remains strong

Friday, 26 June 2009

Even though the current economic crisis is causing layoffs in other sectors, experienced chartered accountants from abroad are still in great demand in Canada. Accountancy is one of 38 occupations listed as being needed in this country for the foreseeable future by Immigration Canada.

Tim Forristal, the vice-president of education at the Canadian Institute of Chartered Accountants, says Canadian employers want to be able to hire foreign CAs with confidence. "Canada is looking for lots of people right now, especially those with an international financial reporting background," Mr. Forristal says. "Establishing best practice [in setting qualification levels in foreign CAs] is a huge part of our mission."

The CICA has approved 13 foreign designated accounting bodies, whose members need only to pass local tax and law exams in the province or territory in which they intend to practise. They are:

• Ordre des Experts Comptables (France),
• the Japanese Institute of Certified Public Accountants,
• the Institute of Chartered Accountants in Australia,
• Institut des Réviseurs d'Enterprises de Belgique,
• the Institute of Chartered Accountants in England and Wales,
• the Hong Kong Institute of Certified Public Accountants,
• the Institute of Chartered Accountants in Ireland,
• Instituto Mexicano des Contadores Publicos,
• Nederland Instituut van Register Accountants,
• New Zealand Institute of Chartered Accountants,
• the Institute of Chartered Accountants of Scotland,
• the South African Institute of Chartered Accountants, and
• the National Association of State Boards of Accountancy in the U.S.

Four foreign designated accounting bodies have been determined not to be equivalent: The Australian Society of Certified Practising Accountants, the Philippines Institute of Certified Public Accountants, the Institute of Chartered Accountants of Sri Lanka, and the Association of Chartered Certified Accountants of the United Kingdom. And a further four are under review: the Institutes of Chartered Accountants of Bangladesh, India, Pakistan and Zimbabwe.

Foreign CAs from other jurisdictions are not automatically eligible for exemptions from any education or examination requirement of the Canadian CA program. They can ask for assessments to see if any exemptions apply. If not, then they must complete all requirements.

Fiona Macfarlane, Americas chief operating officer, tax, at Ernst & Young says 25 per cent of Ernst & Young's work force in Canada are skilled immigrants.

"At a recent tax event we had all the people from the practice in Canada come together, and we welcomed the audience in their native language. We had to stop at about 15 languages. We were running out of time. It was amazing and very moving," she says.

"You think about where the clients are coming from ... they may not be headquartered in North America any more. They may be headquartered in China or Dubai. So to have that kind of skill set and context within your own practice can be very powerful."

Ms. Macfarlane says Ernst & Young put a lot of effort and resources into programs. "We depend on immigrants for our economic growth. We try to level the playing fields. We have Succeeding-in-Canada training, we have cross-cultural training," she says. "Once you understand there are differences and understand your own biases, it's much easier for you to figure out what the other person is saying and help them be successful."

If you are interested in Visas to Canada, contact Migration Expert for information and advice on which visa is best suited to you. You can also try our visa eligibility assessment to see if you are eligible to apply for a visa to Canada.