10-07-2010, 03:20 AM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by sherazbohio@hotmail.com</i>
<br />this is to you Mr Toronto boy.i have certain questions regarding the CICA.has cica allowed its students to fulfill the experience requirement in industry as well. secondly the initiative by the Canada government relating to recognition of foreign trained accountants called economic action plan, what does that mean, i mean will there be some relaxation of the strict requirements of Canada's dynamic job market.
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Yes, CICA is approving ATOs (approved training offices) in industry too. Selection criteria/process to be ATO is quite stringent. Students trained from those industry ATOs would not have public accounting license, but would be called CAs. They can work in any sort of jobs, but to sign audited financials they would need public accounting license, for which they would have to complete public accounting hours and requirements. Please note that public accounting license is something different from accounting designation like CA/CMA/CGA. Vast majority of trained accountants do not work in public accounting but in industry. So, most of them do not need public accounting license but only a designation. However, only those designated accountants who work in public accounting and sign audited financials need "public accounting license". Only those would be required to satisfy requirement of auditing and tax hours.
I don't know much about economic action plan. I think Gov't is trying to streamline acceptance of foreign trained professionals with the help of relative associations. Here in North America, almost all kind of trades/ professions need a license (Canadian) from regulatory authority/ association of that trade or profession. These Canadian trade/ professional associations do not easily accept foreign qualifications and ask applicant to pass their own Canadian exams. This creates a problem for foreign trained professionals. Gov't does not interfere in working of trade/professional associations. However, I think Gov't is trying to improve acceptance of foreign trained professional by industry and associations both.
<br />this is to you Mr Toronto boy.i have certain questions regarding the CICA.has cica allowed its students to fulfill the experience requirement in industry as well. secondly the initiative by the Canada government relating to recognition of foreign trained accountants called economic action plan, what does that mean, i mean will there be some relaxation of the strict requirements of Canada's dynamic job market.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Yes, CICA is approving ATOs (approved training offices) in industry too. Selection criteria/process to be ATO is quite stringent. Students trained from those industry ATOs would not have public accounting license, but would be called CAs. They can work in any sort of jobs, but to sign audited financials they would need public accounting license, for which they would have to complete public accounting hours and requirements. Please note that public accounting license is something different from accounting designation like CA/CMA/CGA. Vast majority of trained accountants do not work in public accounting but in industry. So, most of them do not need public accounting license but only a designation. However, only those designated accountants who work in public accounting and sign audited financials need "public accounting license". Only those would be required to satisfy requirement of auditing and tax hours.
I don't know much about economic action plan. I think Gov't is trying to streamline acceptance of foreign trained professionals with the help of relative associations. Here in North America, almost all kind of trades/ professions need a license (Canadian) from regulatory authority/ association of that trade or profession. These Canadian trade/ professional associations do not easily accept foreign qualifications and ask applicant to pass their own Canadian exams. This creates a problem for foreign trained professionals. Gov't does not interfere in working of trade/professional associations. However, I think Gov't is trying to improve acceptance of foreign trained professional by industry and associations both.