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Canadian Immigration and ACCA, CIMA, CFA or CMA
05-30-2009, 03:37 PM,
 
AOA, to all
I think both the professionals are right, the canadian boy and kamran. Actually we observe others like we oberse ourself. Dont beleive in others personal experience and circumstances.People are different, attitude are different, perception of reaility is differnet, thoughs, courage, emotions, contribution towards achievements is different,when due to diversifecation, every thing is different, why we beleive in people's bioghrpy. I think the student who can not pass in pakistan should not to go abroad. One who can not complete CA or CMA in pakistan, how would he passe in abroad. Just emagine.NO doubt, foreign accounting bodies recognition and designation is reputed than pakistan. But still CA and ACMA is also reputed in the world. I want to tell you that You should prepare yourself for pakistan's study first and than if you want you should go outside. May be one thing is diffecult for you and qiute easy for me.I am doing my M.B.A and PIPFA and i want to go CA. I have got wounderful information from canadian bhai and kamran Bhai. I think we should accept the right think and quit the bad one.Can i complete CA in minimum time Kamram Bhai? Are amy exemtion available in ACCA, CGA after CA inter Canadian bhai?
Reply
05-31-2009, 01:43 AM,
 
You asked,"Are amy exemtion available in ACCA, CGA after CA inter Canadian bhai?"

Reply I don't know, you would have to ask ACCA students or apply for evaluation.
Reply
06-11-2009, 05:07 PM,
 
HI Toronto boy!!
Actually I've cleared 5 papers of acca i.e f1, f2, f3, f4, f6 but no practical experience so would you please tell me whats my worth in Canada if I apply for Canadian immigration.
and also tell me process of immigration how can i apply for immigration and what are the requirements which i need to fulfill.... take me as beginner

kindest regard
farhan siddiqui
Reply
06-11-2009, 11:52 PM,
 
Dear farhansiddiki

Canadian skilled immigration is for people who have at-least 2 years of relevant work experience and required qualification (in terms of diploma or degrees etc). Perhaps, you would not satisfy immigration criteria at this time. Get all the information from Canadian immigration website links I have provided on this thread, and plan and prepare yourself and your case according to immigration needs/ requirements. Complete your ACCA courses and try to get at-least 2 or 3 years of relevant work experience. I think they also ask IELTS English score these days too, so prepare yourself for that too.

Don't be discouraged by the length of process or difficulties. Prepare yourself little by little.

Regards
Reply
07-25-2009, 09:30 AM,
 
MashaAllah... at-least these days young Pakistanis are having access to more and more organized resources and institutions.

I wish soon we would have good institutions and more resources available in all major cities... InshaAllah.
Reply
08-05-2009, 03:04 AM,
 
I think future readers of this thread might be interested in following post and perhaps in my reply, so I am copying these here for them.

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by isookvi</i> Posted - Aug 03 2009 71802 PM
<br />Hi all,

This is my first post here. And I m sure that this question has been asked a million times before but I have searched around and they are quite old. So, I thought I should post a new one. I really need your advice. I m thinking of doing my rest of ACCA from uk. Af this december sitting I INSHALLAH will clear my fundamentals skills module.
Now the thing is I have everything ready for the visa(uk)requirements, college fees etc. just need to make the final move. But I m having second thoughts. The only reason I want to go there is that I think I will be exposed to more opportunities, different experiences which shape a person in one way or another. Because London is supposed to be the financial capital of the world. As I have never been to a university I dont wanna left behind on personal grooming skills like communication skills etc. I hope you are getting what point I am trying to make here.
Anyways I just want to know if one can get into a good firm. How to get a work permit? Is that very difficult to get? Moreover, I plan on doing CA(ICAEW) or CFA after ACCA. Will going to UK help in this matter or not? I have heared its very difficult to get a training contract for CA(ICAEW), nearly impossible. What is your take on that?
I will be applying my visa on my canadian passport for UK. Will that help in any way?
Also my brother lives in Canada. So, I can live more easily in canada as I have citizenship. So, Can ACCA be done in Canada? If I complete rest of my exams in Canada and then go for CA(CICA). Will that be a good choice? One thing I have a confusion with is that whether the exemptions offered to ACCA by CICA are for affiliates or for full members?

Anyways given my current situation, what do you think I should do if I want to move to canada for CA or CFA. Will I get any exemptions from CGA on the exams I have passed of ACCA. Get CGA and then go for CA or CFA. Moving to Canada is not much of a problem for me. What about ACCA in Canada from stoufville college?

What I have in mind is to go to canada, finish off my rest of ACCA there which will atleast take an year. In the mean time I shall be eligible for study loan and then apply to a college or self study for CFA which I really wanna do. The thing that worries me the most is that if I wont fulfill PER after ACCA and unable to complete CFA then it can become a huge problem right? Can one get training for CFA after level 1? If yes, will that count for my ACCA as well?

Please guys I need your advice esp. guys from uk and canada( Mr.Torontoboy)and I need it fast. Your advice can make or break my decision.

Looking forward to your replies.

Thankyou.

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

My Reply;

Dear isookvi

Have some patience my friend. I was away on this long weekend so couldn’t reply you earlier. Any way here are my two cents, assuming that you are located in Pakistan or in a country where ACCA resources are available in abundance.

Though it is your own decision, but if I would be in your shoes with Canadian passport in pocket, Canada would be my natural destination rather than UK. In my opinion, you may stay in Pakistan for another 2 or 3 years. Complete your ACCA courses in Pakistan, degree, and satisfy experience requirement with any job in Pakistan which you may start soon, and then 3 years later come to Canada. After that transfer your ACCA courses for CGA. CGA gives paper to paper exemptions for ACCA courses. If you would be ACCA member after 3 years then you may get CGA directly, otherwise you would have to complete few final level CGA courses, after having paper to paper exemption.

Remember all 3 Canadian designations require a degree, which you don’t have right now. If you go for degree in Canada, you would have to wait for study loan for a year, and you would easily end-up with more than 40K-50K loan for 3 or 4 years degree. Stoufville college is kind of small private college and quite expensive. You would have to pay college tuition in addition to ACCA fees. Generally speaking, employers do not ask for ACCA but need Canadian designations, so it would affect your employability if you study for ACCA here unless you transfer into CGA or some other Canadian designation.

CICA has other complex requirements and needs a degree to be enrolled with. It requires 30 or 36 months training in pre-approved training offices (ATOs). Securing a job in ATOs is quite difficult task. However, after CGA you only need to take final UFE exam (of CICA) to become CA, and experience requirement would also likely be shortened. Though CICA is a good option, but the main hurdle for immigrants is first getting a job in ATOs. Usually ATOs pick fresh and sharp students directly from Canadian university campuses or through personal networks, which usually immigrants lack. So, if you are ready for study accounting from Canadian universities, maintain good GPA to be picked by ATOs, required grades for CICA, alongwith about $40K-$50K loan and personal hardship in life, then go for that.

After CGA, you may directly go for CFA here any time, if you don’t wanna go for CA (CICA). Moreover, with ACCA membership, you may be CA(ICAEW) after 5 years automatically through CCAB, but save your efforts and do CFA. Thus 5 years after ACCA membership you might be ACCA, CA(ICAEW), CGA, and CFA. The real beauty is, actually you would have to work only for ACCA in Pakistan and CFA anywhere in Pakistan or in Canada. You would get CA(ICAEW) and CGA through MRAs (i.e. almost negligible efforts).

Therefore, students of ACCA in Pakistan may go directly for CFA after their ACCA. This combination would open many doors for them with maximum possible diversification, stability and earning potential. Generally speaking, jobs in accounting (i.e. with ACCA/ CA(ICAEW)/ CGA) are more stable and jobs in finance (i.e. with CFA) gives great earning potential. With ACCA membership one may get CGA membership, Canadian citizenship, passport and experience, with Canadian Citizenship move to USA to work as CFA (or one may get CPA too), one may go to Europe (with ACCA and CA(ICAEW)) any time or to Australia with ACCA CA(ICAEW) and CGA, and use all 4 in Middle East if someone moves there. Even with these 4 designations, international experience and passport, if one could not get a good job in Pakistan then oska aur Pakistan dono ka phir Allah Hafiz.

Therefore, you may groom personal skills in Canada 3 years later on more sound grounds with ACCA, CGA, university degree and experience. It would save you from study loan burden (at-least 40K), too many distractions, part time work besides full time study load. It would certainly be a long and hectic chase if you move to Canada now. As you already have Canadian passport, you should not be in hurry. I assume you are quite young and live with your parents in Pakistan. Life can be quite difficult when you would be at your own here. Further, you may also visit to Canada about 12 months before than you actually intend to move here, to have your bank account, medical card, driver’s license etc. to start your residency here from 1 year waiting time for study loan point of view, and then go back and finish rest of your ACCA membership requirements. After 12 months, when you permanently come here, you may get study loan for preparatory courses for CFA (if these courses are eligible for OSAP Loan).

I hope it helps. However, above are my views with which anyone can disagree. I have written these paras in Canadian perspective. Someone from UK may help you regarding questions about UK.

Best Wishes

Reply
08-07-2009, 01:38 PM,
 
<font size="2">Dear Toronto Boy,

hello.. i have read all of your posts and am deeply impressed by the effort you are making in terms of guiding people here..
i am planning to move to Canada after my studies to work there but i have a few queries to make..
let me briefly introduce myself first..
My name is Adam Zia and currently i am doing BBA (honors) with major in Finance & minor in

Mathematics from Lahore School of Economics.. i still have two exact years to graduate.. and i am

planning to give cfa level 1 by June 2010 and also have some thoughts regarding FRM but not much

sure about it..

i have the following questions to ask

1) Should i partly complete my CFA and than apply for Canadian work visa and move there and work along with complete my CFA designation? or should i stay here.. complete all the levels.. gain a one two years experience and than think of going out there?
what would be the best plan for me as i want to work in the Bay Street, Toronto..

2) i have read the links you posted of GARP scandal and after that i am quite dubious about GARP's authenticity.. i have seen people opting for PRM instead of FRM because of te same reason but what i have seen is that FRM is more reputable everywhere in the world..
i would like to ask you that getting a certification in either FRM/PRM will really be an Add-on for me along with CFA? is it really worth it? justify your answer..Also if yes than which certification to go for? FRM or PRM? and why?

3) what else you can suggest me regarding working in Canada and Canadian immigration?

regards,

ADAM ZIA
Lahore School of Economics</font id="size2">
Reply
08-11-2009, 04:32 AM,
 
Dear Adam

One needs a degree (BBA in your case) and at-least 2 or 3 years of relevant experience to apply for Canadian immigration. After that he has to wait for some period till a decision is made on application. This period may take years in most of the cases. However, I have heard that Immigration Canada has accelerated the process, so the waiting time is reduced. Therefore, once you have BBA degree and 2 or 3 years of relevant experience you may apply for immigration. It depends on you whether you wanna complete leftover CFA levels in Pakistan or in Canada. In my view, you have enough time to complete CFA by the time you get landing paper or immigration visa (about 6 years from today).

Regarding GARP scandal, I got the information and forwarded to this forum. In my personal view, FRM is a good certification about which I have already replied to you on another thread. Your immediate goals should be completion of BBA degree, relevant experience, and CFA. You have years to decide about FRM. For further questions about FRM or PRM, you may search following forum;
http//www.analystforum.com/

By the way, have you been reading about financial markets in Canada. I was a little surprised by seeing reference to the street where my office is located at.[)]

As Canada has two official languages i.e English and French, immigration application gives points for proficiency in two languages. Canadian embassy in Islamabad needs, I think, band of 7 in IELTS exam. Usually Pakistanis get points for English language only. If you have some time and interest, you may prepare yourself for French also, that would give you additional points to qualify.

I hope it helps.

Regards
Reply
08-11-2009, 05:16 PM,
 
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Toronto_Boy</i>
<br />Dear Adam

One needs a degree (BBA in your case) and at-least 2 or 3 years of relevant experience to apply for Canadian immigration. After that he has to wait for some period till a decision is made on application. This period may take years in most of the cases. However, I have heard that Immigration Canada has accelerated the process, so the waiting time is reduced. Therefore, once you have BBA degree and 2 or 3 years of relevant experience you may apply for immigration. It depends on you whether you wanna complete leftover CFA levels in Pakistan or in Canada. In my view, you have enough time to complete CFA by the time you get landing paper or immigration visa (about 6 years from today).

Regarding GARP scandal, I got the information and forwarded to this forum. In my personal view, FRM is a good certification about which I have already replied to you on another thread. Your immediate goals should be completion of BBA degree, relevant experience, and CFA. You have years to decide about FRM. For further questions about FRM or PRM, you may search following forum;
http//www.analystforum.com/

By the way, have you been reading about financial markets in Canada. I was a little surprised by seeing reference to the street where my office is located at.[)]

As Canada has two official languages i.e English and French, immigration application gives points for proficiency in two languages. Canadian embassy in Islamabad needs, I think, band of 7 in IELTS exam. Usually Pakistanis get points for English language only. If you have some time and interest, you may prepare yourself for French also, that would give you additional points to qualify.

I hope it helps.

Regards

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

Dear Toronto Boy,

yeah i often read financial about financial markets in NY, chicago and Toronto..

Actually my main aim is to do M.Sc in Mathematical Finance from University of Toronto.. it's my top most priority..

as far as CFA is concerned.. okay if i complete my CFA in pakistan than is it possible than i can apply directly to the employers in canada and if got accepted they will send my visa? or do i have to shift there and than find a job?
Also what can you say about the scope of fresh CFA in toronto in terms of pakistani's?

regards
adam
Reply
08-11-2009, 11:35 PM,
 
Dear forum members (especially Toronto_Boy_
Salam. I am working in development sector(an international NGO) in Pakistan since the last 09 years as accounts/finance officer. After B.com I have done MBA from Allama Iqbal Open University Islamabad with specialization in Marketing but I have also passed the specialization courses of MBA Finance from the same university. So I may be called MBA finance in a way. MY age is near 40. Inspite of 09 years hard work in the relevant field I could not get chance for any senior position though I am not disappointed. I had also started ACCA some time ago, availed 05 exemptions, met the practical experience requirement but could not attempt any further paper although planning and struggling yet. I want to ask what are my prospects for Canadian immigration keeping in view my current cirsumstances/status? If granted immigration what are the oppertunities for me there? I have made and assessment on points calculator and foud myself close to their requirements? Is there any chance to get the immigration really or I should not wast my time and resources for this activity? Pls also suggest what should be my top priority to grow in my field? I often think about doing the qualification of "certified internal auditor" from USA because my work also include the tasks related the review of internal controls and financial systems. What do you suggest abount doing CIA? What about doing PIPFA? Would MBA+PIPFA be of any worth for my career enhancement? Honest suggestions would be highly appriciated and do remember please that good suggestion is a sacred trust of the needy fellows.

Best Regards,

Friend
Reply
08-12-2009, 01:42 AM,
 
Dear Friend

Please consider that I am not an immigration consultant. Perhaps you need to talk to immigration consultant for your chances, prospects, opportunities, points etc. etc for immigration.

Also, these are the questions related to your own decision about your life, future, risk bearing capacity, family circumstances, personal preferences etc. etc.

One thing I wanna tell you and others that Canadian professional jobs market is not an easy place. Only those people get professional jobs who are upto the requirements and update their education, do continuous efforts, have good communication skills specially oral skills, and most important is the luck factor.

Yes, CIA is a good qualification too. You may use Gliem's material for preparation.

Regarding suggestion to grow in the field, all I can say is, I believe in continuous improvement through education.

I have no idea about PIPFA.

Regards
Reply
08-12-2009, 02:16 AM,
 
Dear Adam

I think you are mixing up immigration with work visa. In my opinion, immigration is easy to get as compared to work visa because already each type of professionals are in abundance here and legal requirements of work visa are complex and difficult to fulfill.

I am simply saying that you may apply for immigration once you have degree and few years of relevant experience. Partially completed or full CFA would have weight on your application. However, it is upto you where do you complete CFA. You would have to move to Canada to find a job here.

Though it is on your luck whether you directly (from Pakistan) get the job in Canada based on your CFA, but personally I think such chances are very dim. Toronto is the 3rd largest exam centre in the world after NY and Chicago. Hundreds of fresh CFAs qualify in Toronto each year, so you can imagine about competition. Employers are not interested in candidates who are not physically present here and are legally eligible for the job here. They don’t bother to apply for work visa as they get candidates easily from local market.

Though there is huge competition, but there is also a hope for fresh CFAs. They get settled somehow somewhere and get their share. You know exams and experience are two different requirements. Exams are same all over the world but experience is different. Candidates from Pakistan pass the same exam, though they need some Canadian experience to work here. So, you would have to first come here to apply for the job. As I said difficulties are there, but we all should keep up the good hopes too. Certainly passing CFA exams increase the probability of getting a good professional job in Canada. Remaining is upto one’s luck in life.

Regards
Reply
08-12-2009, 10:47 PM,
 
Dear Toronto_Boy
Thank you very much for your valuable suggisions. I really appriciate your good work of facilitating the accounting community. Would you please guide what is the worth of CIA qualification in Canada and other European countries regarding the immgration process as well as job prospects. Is its acceptance and worth is same like ACCA, CMA etc? Please do comment.
Reply
08-13-2009, 05:02 AM,
 
Dear Canada Boy

I am currently studying in Karachi, Pakistan and have a query and therefore I think that you are the right person to whom I can discuss my problem.

I am/was a student of PAF Chapter, The City School and have this year passed out as an A level student. I got an A in accounts and also in maths and a B in Business studies.

Now the problem is that I donot know what to do but still I have some options. My first option is to do ACCA from pakistan and then look for ICAEW from Pakistan or england. I think this is a good option but the problem is that inshallah till January there is a possibility that I can become an immigrant of Canada ( please donot ask how). Now my mum wants me to apply to univeristy of toronto to complete my Bachelors and then Masters. However I donot want to go to university . I think that inshallah if I get the immigration then I should do ACCA from canada. Now I donot know anything after ACCA of canada. I am blank about CGA's, MRA's. I know ACCA of Pakistan but please tell me that what are my odds of getting a good job on the basis of my ACCA. If you have extra knowledge please advice me. Remember please donot give me advice like an average student. I am a good enough student who works hard but I want a fruitful reward in less time. Please tell me whether I should study in a university of pakistan or canada or look for a professional degree in pakistan or canada and please answer my questions as if I know nothing about canada as I am just an A level qualified.
Reply
08-13-2009, 06:49 AM,
 
Dear gajini

Once you become immigrant, you need to live in Canada for 1080 days plus waiting period till you become Citizen. Though you may exit Canada during 1080 days for a visit to Pakistan or other places, but if you live outside for extended period, your immigration visa would likely be expired. You may check with Immigration Canada how long you may live outside Canada with immigrant status. Thus, in my view, you do not have any other option than to come to Canada and live here till (at-least) you become Citizen. Once you land here, you may go to University or college to complete your education here. After that you may go for any Canadian designation of your choice. Starting ACCA in Canada and not going to university to complete degree would not be much preferable option once you are here.

You can't live in Pakistan and complete your degree/designation for extended period while having immigrant status.

I hope it helps.

Best Wishes
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