Accountancy Forum - Canadian Immigration and ACCA, CIMA, CFA or CMA

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Toronto_Boy
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by aahan786
 Assalam-u-alekum everyone

Now the problematic part over which Iâm little confused. The industry where I worked in Pakistan is still in nascent stages therefore is probably much different than what advanced countries like Canada may have. Iâm not sure if it will be easy for me to join the same or at least a similar industry in Canada. As I said earlier, I donât have any prior experience in audit therefore I want to start off in Canada from an Audit firm. I heard that Audit firms hire fresh graduates every year and like other countries such UK they hire graduates as trainees with full job except that they are required to pass the examinations within 3-4 years time span. Assuming that Iâll not be expected to pass any papers (being a CGA member by then) I plan to pursue CFA, CPA or most probably CA from CICA (whatever appropriate) during the time with audit firm. Iâll be immensely grateful if someone having experience could advise esp. over this last part.

Thanking you in advance

Ashfaque
KHI.
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Dear Ashfaque

One can do whatever he/she wants while doing a job in Audit firm in Canada. So, you can do either nothing or whatever qualification you want.

Having said that, please feel no offence but I think you have done much brainstorming and using too many assumptions about future.

Dear, one may try wherever he wants (audit firm or industry), but end of the day everyone needs bread, so starts from whatever he gets in new country. However, one can (and should) continuously strive hard for the best jobs available.

So, in my view, leave too many assumptions aside till the actual time comes. At that time, do your best, and pick-up the best available job.

Regards

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Dear Toronto boy

Firstly, no offences taken.[p] Probably, I'm too eager (rightfully[p]) to join an Audit firm in the advanced economy. But Iâm glad too because today, I have received result for Dec 2009 exams. All the praise is to ALLAH (SWT), I did well and therefore I think my plan is still a go. [)]

Secondly, do you have any idea about; can a person expect salary/ stipend in an audit job, enough to make ends meet? How severe was the effect of global financial meltdown on Canadian financial sector i.e. investment banks, unit trusts, mutual funds and commercial banks etc? Is the economy regaining itself resulting in job opportunities or what?

Regards

ASH.

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by saleen.super
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by aahan786
 Nobody is replying? [(]
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A person who wants to establish his career in accountancy must spend initial 3-5 years in an audit firm as it helps in accomplishing all those tasks that you have mentioned in your last post.
Its written in the holy book of accountancy.
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Dear saleen.super

I Can't agree more with your statement. That is exactly why, I want to take this step i.e. joining an audit firm. But as Torontoboy has said, expectation tau aadmee kuch bhee rakh sakta hai lekin jaisa hum sochte hain, waisa exactly honay ki baat hai.... [p]

Dear

See my reply in bold.

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by aahan786
All the praise is to ALLAH (SWT), I did well and therefore I think my plan is still a go. [)]

MashaAllah, mubarak ho.

Secondly, do you have any idea about; can a person expect salary/ stipend in an audit job, enough to make ends meet?

They get salary, not stipend, which is more than enough to meet end means. Though I don't know the level of your end means...LOL.[)]

How severe was the effect of global financial meltdown on Canadian financial sector i.e. investment banks, unit trusts, mutual funds and commercial banks etc? Is the economy regaining itself resulting in job opportunities or what?

Economy was jolted, but has positive signs now, so job opprtunities are improving.

Regards

ASH.
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<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by aahan786
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by saleen.super
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by aahan786
 Nobody is replying? [(]
<hr height="1" noshade id="quote"></blockquote id="quote">

A person who wants to establish his career in accountancy must spend initial 3-5 years in an audit firm as it helps in accomplishing all those tasks that you have mentioned in your last post.
Its written in the holy book of accountancy.
<hr height="1" noshade id="quote"></blockquote id="quote">

Dear saleen.super

I Can't agree more with your statement. That is exactly why, I want to take this step i.e. joining an audit firm. But as Torontoboy has said, expectation tau aadmee kuch bhee rakh sakta hai lekin jaisa hum sochte hain, waisa exactly honay ki baat hai.... [p]
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You're right, Aahan. We are lucky if things happen the way we want them to but every time it doesn't happen. The best approach then is to keep your options open. Just don't bog in one aspect and run uselessly after it. If you feel its hard to get into an audit firm then choose the next best possible option. You may later get a chance to move to an audit firm. [ Wink

]

Having said that, I wish you best of luck in your endeavors, Mr. Aahan, Partner KPMG Canada. [D]

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by aahan786
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Dard
 Many wouldn't have noticed the number of postsp(atleast i hadn't)
The degree required by CGA doesn't have to be 4 years degree. All the undergraduate degrees in U.K are of 3 years. Bsc in applied accounting and MBA from OBU is recognised by CGA, Canada
It is not easy going into a new location. Accountancy jobs are similar, but not totally same, in many countries. You will have to get yourself familiarised with the canadian GAAP. As an ACCA, IFRS shouldn't cause a problem to you
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Dear Dard (what kinda id is that BTW[p])

Thanks for the reply and clarification about 3 -4 years degree. No matter what the exact requirement is, the bottom line is that B.Sc OBU degree is acceptable for CGA eligibility as far as I can understand. Please correct me if I am wrong.

As you have correctly stated that accountancy jobs are similar but never the same, it is exactly one of the reasons that made me think about an audit firm instead of going for a permanent job. As per my understanding, even if I spend 1 - 2 years in an audit firm in Canada, (i.e. starting as a graduate who has no practical knowledge about accountancy and audit) it would be helpful not only to understand the business environment of new country but also to obtain a firm grip over the local GAAPs and other technical competences which may be expected from a CGA trained in an Audit firm. Do you endorse the idea?

Thanks
ASH.
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The idea is great. Anyone who hadn't had any exposure of audit firm should consider having one. It provides a great platform for future

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by shredder
 Hi Toronto Boy,

Glad to see this forum you started as I am in search of a strategic career plan along with my intention to migrate in Canada. Here's my plan for the moment, (subject to your suggestion) [D]

1) IMA-USA - Plan to finish it here in my country (Philippines) prior to migrating, understood that it is not widely recognized in Canada but I guess it's better having a certification than nothing.

2) ACCA - Apply as a CAT (full exemption policy for IMA-CMA) after finishing IMA-USA certification. Then finish full ACCA papers in Canada. I have tried to contact ACCA if CAT papers will be affected due to reformat in IMA's exam, after long exchange of emails ACCA advised that all exemptions are available in their website, never bothered to follow-up after that. (In my opinion, I guess CAT papers will still have full exemption, though several ACCA exams might be affected).

* How would an IMA and ACCA (CAT level)combo fare well in the canadian job market?

3) I have come accross this canadian accounting technician professional association, http//www.instituteofat.org/ , May I know if their diploma in professional accounting will give an immigrant an advantage in getting accounting jobs?

Thanks in Advance.

Regards,
Shredder

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Hi Toronto Boy! Appreciate your reply here. Thanks [)]

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by shredder
 Hi Toronto Boy;

Glad to see this forum you started as I am in search of a strategic career plan along with my intention to migrate in Canada. Here's my plan for the moment, (subject to your suggestion) [D]

1) IMA-USA - Plan to finish it here in my country (Philippines) prior to migrating, understood that it is not widely recognized in Canada but I guess it's better having a certification than nothing.

2) ACCA - Apply as a CAT (full exemption policy for IMA-CMA) after finishing IMA-USA certification. Then finish full ACCA papers in Canada. I have tried to contact ACCA if CAT papers will be affected due to reformat in IMA's exam, after long exchange of emails ACCA advised that all exemptions are available in their website, never bothered to follow-up after that. (In my opinion, I guess CAT papers will still have full exemption, though several ACCA exams might be affected).

* How would an IMA and ACCA (CAT level)combo fare well in the canadian job market?

3) I have come accross this canadian accounting technician professional association, http//www.instituteofat.org/ , May I know if their diploma in professional accounting will give an immigrant an advantage in getting accounting jobs?

Thanks in Advance.

Regards,
Shredder

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Dear Shredder

Please allow me some time. I would reply you soon.

Regards

<blockquote id="quote">quote<hr height="1" noshade id="quote">You're right, Aahan. We are lucky if things happen the way we want them to but every time it doesn't happen. The best approach then is to keep your options open. Just don't bog in one aspect and run uselessly after it. If you feel its hard to get into an audit firm then choose the next best possible option. You may later get a chance to move to an audit firm. [ Wink

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Wish if one had such an unlimited life to perform all such circus acts ...[p]

<blockquote id="quote">quote<hr height="1" noshade id="quote">Having said that, I wish you best of luck in your endeavors, Mr. Aahan, Partner KPMG Canada.[D]
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U calling me future Partner of KPMG Canada? or telling me that you are Partner KPMG Canada? if u r calling me the future Partner of KPMG Canada, then why not Partner PWC or Deloitte Canada? Why KPMG in particular? [p]

Well firstly, I got this impression that you are Partner KPMG Canada and guess what, I have no friggin idea why but it reminded me of an incident. Many years back, once an uncle of mine and almost a dozen of my cousins were sitting at home. My uncle happened to be quiet Hitler when it came to treatment of children. He still believes in corporal punishment like first Kalima.[D] A female cousin of mine responsible for taking care of younger siblings complained that she has failed to convince a younger brother from not sitting on washroom floor and that the kid has obstinately refused to stand up.[D] As soon as she told her dad (i.e. my uncle) about the situation, he rushed to the wash room as if he is gonna miss the chance to perform hajj forever.[D] The next moment all of us heard sound of quiet huge spank. The kid came out running out of the washroom like, "baaaaaaaaaaaanhhhhh".[D][D] All the cousins of mine almost rolled on the floor over his crying style. the kid has grown up now but we still remind him of what happened.. [P]

As soon as I got this impression that I habeen talking to the partner KPMG, unintentionally I thought that I'm gonna run off the chair doing the same "baaaaaaaaaaaanhhhh"...... [D]

HAHAHAHAHA LOL [D] Nice story [D][p]

Well c'mon... you didn't read properly what I wrote?
Mr. Aahan, Partner, KPMG Canada. Where is my name in it lol [D]. Well I was wishing you the best of luck in a lighter way [ Wink

]

And I said KPMG because I read about it more often in papers and news aboard more than any other firm so just said it randomly. As I said I was wishing you the best of luck seeing your utmost desire to join and audit firm. [)]

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by saleen.super
 HAHAHAHAHA LOL [D] Nice story [D][p]

Well c'mon... you didn't read properly what I wrote?
Mr. Aahan, Partner, KPMG Canada. Where is my name in it lol [D]. Well I was wishing you the best of luck in a lighter way [ Wink

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Yeah I got it, Thanks a lot. I just needed a reason to tell u that story... [D]*kiddin*[ Wink

]

<blockquote id="quote">quote<hr height="1" noshade id="quote">And I said KPMG because I read about it more often in papers and news aboard more than any other firm so just said it randomly. As I said I was wishing you the best of luck seeing your utmost desire to join and audit firm. [)]
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I thought, u said KPMG coz it has a larger market share as compared to others... [p]

lol it was good. made the argument a bit lighter.
i can't comment on market share of KPMG. i think any firm in big 4 tier doesn't make any difference. it has to be big 4 at the end of the day. [ Wink

]

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Toronto_Boy
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by shredder
 Hi Toronto Boy,

Glad to see this forum you started as I am in search of a strategic career plan along with my intention to migrate in Canada. Here's my plan for the moment, (subject to your suggestion) [D]

1) IMA-USA - Plan to finish it here in my country (Philippines) prior to migrating, understood that it is not widely recognized in Canada but I guess it's better having a certification than nothing.

2) ACCA - Apply as a CAT (full exemption policy for IMA-CMA) after finishing IMA-USA certification. Then finish full ACCA papers in Canada. I have tried to contact ACCA if CAT papers will be affected due to reformat in IMA's exam, after long exchange of emails ACCA advised that all exemptions are available in their website, never bothered to follow-up after that. (In my opinion, I guess CAT papers will still have full exemption, though several ACCA exams might be affected).

* How would an IMA and ACCA (CAT level)combo fare well in the canadian job market?

3) I have come accross this canadian accounting technician professional association, http//www.instituteofat.org/ , May I know if their diploma in professional accounting will give an immigrant an advantage in getting accounting jobs?

Thanks in Advance.

Regards,
Shredder

<hr height="1" noshade id="quote"></blockquote id="quote">

Dear Shredder

Please allow me some time. I would reply you soon.

Regards
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Thanks in advance Toronto Boy! Your input is very much appreciated

Dear Shredder

Sorry you had to wait.

Take it this way, with CMA (IMA) and CAT at-least you can represent yourself as US and UK education holder to prospective employers here, which may increase your employability.

Dear, I donât know either how many CAT or ACCA papers would be exempted after CMA (IMA). Suppose if someone has to do 10 ACCA papers in total and he takes 2 papers in each attempt. It would take about 2.5 years to complete all ACCA papers. At-least I can tell you that completing any of 3 Canadian designation takes more than 2.5 years for immigrants. However, you would have to calculate cost and risks involved in this option.

I have no idea about IAT institute you referred. In my view, you may consider any local college/ university diploma where you would be residing (like Seneca/ Centennial/ Humber/ York/ Ryerson etc. in Toronto), as employers know and prefer graduates of local institutions. Though website of this IAT institute says its Canadian but I never heard of it before.

I hope it helps.

Best Wishes and Regards

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Toronto_Boy
 Dear Shredder

Sorry you had to wait.

Take it this way, with CMA (IMA) and CAT at-least you can represent yourself as US and UK education holder to prospective employers here, which may increase your employability.

Dear, I donât know either how many CAT or ACCA papers would be exempted after CMA (IMA). Suppose if someone has to do 10 ACCA papers in total and he takes 2 papers in each attempt. It would take about 2.5 years to complete all ACCA papers. At-least I can tell you that completing any of 3 Canadian designation takes more than 2.5 years for immigrants. However, you would have to calculate cost and risks involved in this option.

I have no idea about IAT institute you referred. In my view, you may consider any local college/ university diploma where you would be residing (like Seneca/ Centennial/ Humber/ York/ Ryerson etc. in Toronto), as employers know and prefer graduates of local institutions. Though website of this IAT institute says its Canadian but I never heard of it before.

I hope it helps.

Best Wishes and Regards

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salam Toronto-boy,
CMA(IMA) gets 7 exemption in ACCA so 7 remain to be attempted which could be done in a year(3 and 4 in two attempts).
Regards.