Yes, you heard it right! If you hold a US CPA credential, you can earn a Canadian CPA designation!
Once you are an accredited US CPA you can finally bid adieu to the dreaded Common Final Exam (CFE) from the Canada CPA board. And with a few of the basic Canadian state board criteria, stamp-ready your immigration journey for Canada.
Effective January 2018, an MRA has been established between All Canadian CPA Bodies & IQAB (International Qualifications Appraisal Board) representing NASBA and AICPA, making US CPA license holders eligible to obtain the Canadian CPA designation.
Why opt for the US CPA track instead?
Although it’s more relevant to write the Canada CPA exam instead, the issue here is, there are no CPA Canada test centers in India, the exams are lengthy and are held once or twice a year.
Obtaining the review materials is another struggle, CPA Canada attendees from India have to survive on borrowed materials. This makes US CPA a favorable choice both in terms of flexibility and feasibility. And on the plus side via this route, you will get both US CPA and CPA Canada designation, without any extra effort.
What are the first three criteria to get accepted as a Canada CPA?
In order to earn the honored membership after your US CPA, you have to meet the following criteria –
A valid US CPA licensure
150 educational credits
24-30 months of relevant work experience
How should you arrange documents to apply for CPA Canada membership?
The documentation itself takes about a month’s time to get ready, hence a small tip for the smart people- keep the PR-age documents ready alongside your US CPA preparation. It’s advisable to get in touch with a trusted immigration agency to run you through the details and take care of the formalities for good.