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+--- Thread: Canadian Immigration and ACCA, CIMA, CFA or CMA (/showthread.php?tid=5192)
- sumairalam - 01-27-2010
Kindly provide the additional details
Master in Finance ? university name?
Audit Experience? Articleship or Internship?
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by overman</i>
<br />Dear all,
I would like to apply for the Canadian citizenship through a skilled worker qualification (1111.1 financial auditor). I am currently planning on taking the IMA CMA exam but recently became aware that CMA Canada does not recognize IMA CMA.
Does anyone have any suggestions and or experience with some potential issues I might be facing during my application process?
I have a masters in finance and 3 years audit experience from a big 4.
Would this be sufficient to apply for citizenship? Or can there be another route I can take for my citizenship given my background?
overman77@gmail.com
Thanks in advance.
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- overman - 01-28-2010
email adres?
- Savak - 01-30-2010
Hey Toronto Boy, i am new here, just read this thread and there is so much information over here. But i think you might be the best person to advise me given my situation.
I explain as follows.
OK i am right now currently in my second last semmester of my MBA program IBA. I have already done my BBA from IBA prior to this and am majoring in Finance. And i just cleared my CFA level 1 exam this summer and am appearing my CFA level 2 in the summer of 2010.
Ok the thing is that my family had applied for Canadian Immigration behind our backs and apparently the news is that its coming through and we may have to stay in Canada for 3 years to get the citizenship. That basically means that i have to stay there especially for 3 years. We will most probably be staying in Toronto.
Now an MBA from IBA does not really have the same value abroad especially in countries like the US, UK, Canada e.t.c. And my parents want me to join a university and to obtain some Canadian degree so that i could be more marketable and that i will be successful in obtaining a job over there.
Right now i am going to first focus on getting my final MBA semmester out of the way, my CFA level 2 out of the way and then i will give my GMAT.
Now i am not really sure what should i aim for
1) Another MBA, this time from a Canadian University? I personally dont want to do another MBA again, i would be more comfortable doing something else.
2) Some Accountancy degree from a Canadian University? Now i hope this accountancy degree does not keep my options limited just to Canada, i hope it will be recognized in countries apart from North America as well. My Dad is pressing me hard to do my Chartered Accountancy from Canada but i dont know much about the system in Canada. My biggest fear is maybe the Canadian CA may not be as highly valued outside Canada as compared to the UK ACA. Will the Canadian CA be recognized in Pakistan?
And guys it doesnt necessarily have to be these two only, it can be other degrees as well. I am hoping to receive some good advice, preferably from people who actually live in Canada and have a better understanding of the local scenario there.
I will be most greatful for advice from people. Thanks
- Toronto_Boy - 01-31-2010
Dear Savak
Following are some options, but eventually you and your parents would have to decide.
1. Try to get a job in Canadian CA firm (a requirement to do CA here). Complete Canadian CA alongwith leftover CFA levels. If you don't get a job directly in Canadian CA firm, then go back to school here for any relevant university degree of your choice and interest. Canadian education would improve your chances of getting job in CA firms here. Once you complete Canadian CA, you may get US CPA, UK's CA, or Australian CA any time later with less efforts as these have mutual acceptance agreements.
2. Or just get any relevant job (like in banks etc.). You would get some Canadian job experience. Then complete CFA, at the same time prepare and pass US CPA exams. If required, do some pre-requisite courses here in accounting to write CPA exams.
If you wanna go to Canadian degree, you would have to find by yourself a program of your choice. There are many relevant degrees available. I can't help you in selecting any, as I don't know the factors that should be considered and which are only you and your parents know like interest, affordability, time requirement etc.
I hope it helps.
Regards
- Savak - 01-31-2010
Thanks for the timely advice and response Toronto boy, highly appreciated. Would like to know, Are you a chartered accountant or working in an accounting profession?
Which CA firms in Canada would you recommend? I think i will definately try to contact them and try to find out where i stand, only then will i know for sure what needs to be done.
Thanks.
- Toronto_Boy - 01-31-2010
Dear Savak
Once you are here with all legal immigration documents then you may apply in all CA firms here. Usually candidate prefer Big4 firms, but if you don't find a job there, then you may try in other too.
To see what are the requirements of CA qualification here, check various requirements like pre-requisite courses, experience, and exams etc. on CICA (CA Canada) or ICAO (CA Ontario) websites.
I am a CPA (AICPA), working in investment brokerage firm in Toronto.
Regards
- Dard - 01-31-2010
I would like to add few things here
=> Don't study anything else besides CFA. It is a specialised qualification requiring alot of commitment and hard work
=> Plan and think where do you want to see yourself in, say, 3-5years time and in which country. Then select a qualification accordingly
=> IBA is a renowned university. A degree from IBA may help you alot in future. You can ask from them about the countries where their degree is recognized
- saleen.super - 01-31-2010
@Savak
I'd agree with @Dard.
Focus on CFA if you plan to settle down in investment banks/management firms. CFA is, undoubtedly, the top finance qualification with no rival. Accountancy certifications have entirely different focus. You better supplement your CFA with FRM/CAIA instead of accountancy certifications. Most of the accountancy certifications require you to join audit firm/accounts role along with your studies and that might change the direction of your career or delay the start.
And as for doing degree in Canada then you should also consider financial engineering degrees (if you're good in maths/stats). As a Quant your career growth will be great.
Above all, you should consider what exactly you want to do in future.
@Toronto_boy
I thank you for starting this thread. I am a new member here at this site and also prospective Canadian immigrant. I highly appreciate your guidance.
Regards,
- Adeel Zafar Janjua - 01-31-2010
Asalaam o alaikum Toronto boy and every one who reads my post,I am new here, My quetion is for you Toronto boy and i am you can help me out, I haev completed my MBA from Pakistan last year and looking for a relevant job at the same time I am planning to immigrate Canada in next 3 years, i have come accross your thread in which had posted about ACCA's MRA with CGA.
Being MBA i have exemption upto 3 papers of ACCA, where as if i go for CMA from IMA and if i complete it, it will allow me exemption upto 7 papers of ACCA.
I want your take on it. Should i go for Exemption in ACCA base on my MBA or should i go for CMA(IMA)and get exemption upto 7 papers.
I think that i'll be better of doing CMA coz after my ACCA i'll have two certifications under my belt.
WHAT WOULD YOU ADVICE ME?????
Plz Reply ASAP
Regards,
Adeel Janjua
- Toronto_Boy - 02-01-2010
Dear Mr. Janjua
CMA(IMA) has changed its curriculum recently, so would this ACCA 7 papers exemption remain same? Please confirm with ACCA before attempting CMA(IMA). In that case it could save some time and cost. You may also compare difficulty level of CMA(IMA) vs additional papers of ACCA you would get exemption in (i.e. over and above 3 papers).
Regards
- Adeel Zafar Janjua - 02-01-2010
Dear Totonto boy
Thanx for your timely response. As i mentioned in my last post that i am intrested in CMA for the fact that i'll be having 2 certifications after my ACCA(CMA & ACCA) and after completion of my CMA and getting exemption of 7 papers i can apply for job in middle east as well, what would you advice about it?
Morover other than CPA, which Accounting Certifications have demand in North America and Middle East as well and will my ACCA or CMA gives me exemption in any of them?
Regards.
- sumairalam - 02-01-2010
I can reply part of your query , In Middle East we donot have our own accounting bodies.
Minimum requirement in accounting / finance related jobs is professional qualification or degree . and as matter of fact the salary is directly related to color of passport and western education, more you have documents towards west more you can demand salary.
Alone certificates from ACCA, CMA will not make any difference but ACA-Eng&wales , yes definitely.
Best of Luck!
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Adeel Zafar Janjua</i>
<br />Dear Totonto boy
Thanx for your timely response. As i mentioned in my last post that i am intrested in CMA for the fact that i'll be having 2 certifications after my ACCA(CMA & ACCA) and after completion of my CMA and getting exemption of 7 papers i can apply for job in middle east as well, what would you advice about it?
Morover other than CPA, which Accounting Certifications have demand in North America and Middle East as well and will my ACCA or CMA gives me exemption in any of them?
Regards.
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- shani420 - 02-01-2010
Dear Sumairalam,
Few middle eastern countries do have their own accountancy bodies but I am not sure about their value and worth e.g
1 Saudi Organization of Certified Public Accountants.
2 kuwait Association of Accountants and auditors
3 Bahrain Accountants Association
4 jordanian association of Certified Public Accountants.
All these are full members of IFAC as r ICAEW,AICPA,CICA,ICAP,ACCA etc.
- shani420 - 02-01-2010
Dear Adil Janjua,
One of my friends got 4 exemptions from ACCA on the basis of his Mcom from Pakistan.If u have studied Pakistani Law paper in ur MBA then u MIGHT BE ELIGIBLE for 4 exemptions from ACCA(though it is not confirmed).
Secondly ACCA's charge equal fee for exemption or sitting papers so just doing Cma(Ima) just for the sake of getting exemptions would be expensive and extravagant option.But if u feel it would add some value to ur portfolio then it is good option.
And in North America besides CPA and cma(ima) ,there r canadian CA,CGA and canadian CMA.
As a full member of ACCA u will get full exemptions in CGA(after a single law course).
- tariqsohail - 02-01-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by shani420</i>
<br />Dear Sumairalam,
Few middle eastern countries do have their own accountancy bodies but I am not sure about their value and worth e.g
1 Saudi Organization of Certified Public Accountants.
2 kuwait Association of Accountants and auditors
3 Bahrain Accountants Association
4 jordanian association of Certified Public Accountants.
All these are full members of IFAC as r ICAEW,AICPA,CICA,ICAP,ACCA etc.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
CPA (Saudi Arabia & Jordan) are certifications of SOCPA & JACPA respectively but other two bodies are not offering certifications (atleast sure about BAA - Bahrain).
Regards.