Have you ever though of attaining both CPA US course and CPA Canada together?. The below article depicts the key methods and ways to get them. There are 3 major points that dictate the way by which a CPA US can obtain a CPA Canada designation.
A. A successful US CPA achiever don’t have to sit for any other exam to be a CPA in Canada.
B,. This exemption has become possible through the Mutual Recognition Agreement( MRA) in operation since January,2018.
C. Fulfillment of required administrative procedures upon registration with the respective provisional/regional CPA body.
Procedural differences between the two designations – CPA US and CPA Canada
In CPA US, individual state boards of accountancy confer the US CPA course certificate and all the 55 boards set their specific requirements besides the recommendations of NASBA and AICPA.
On the other hand, although, Canadian provinces also had their own regional accounting bodies, it was after 2014, there was a merger of different bodies which finally comes under a single umbrella of national authority.
This paved the way of building partnership with other accounting bodies to set up the MRA format. The MRA between CPA Canada through IQAB with NASBA and AICPA from 1st January, 2021 onwards formed the link between US CPA and CPA Canada effectively.
Through this MRA, a CPA US can easily obtain CPA Canada designation without any additional exam provided the US CPA holder fulfilled the few criteria:
Key criteria to obtain Canada CPA for a US CPA holder
1) Successful clearance of uniform US CPA exam after completion of the requirements.
2) The CPA US holder needs to have 30 months of practical experience or 2 years of post qualification experience. In case of shortfall of 2 years post qualification experience, the candidate has to furnish the International Practical Experience Verification and Employer Details form.
3) The candidate has to be in assent with the CPE requirement of the respective state board.
One can also consult the Canada – US Reciprocity list to identify the US state board having compatibility agreement with CPA Canada.
Roadmap for CPA US holder to become CPA Canada
The eligible US CPA holder has to register with appropriate CPA body through following steps:
a) Completion and submission of International Candidate Application Form
b) Proof of confirmation by the home institute that the candidate is holding CPA US in a good standing with the concerned institute.
c) Evidence of legal name through proper documents.
d) Proof of work experience furnished in chronological manner
e) Payment of administrative fees.
f) Furnishing additional criteria if any as per the norm of the respective CPA body.
US CPA salary in India ? In India a fresh CPA starts with a minimum salary of INR 6 Lakh annually in a Big4 or MNC. The salary of a CPA increases at a higher rate than his non-certified peers. A CFO in India can earn more than INR 1 Cr, annually in India.
Benefits of holding CPA US and CPA Canada
A. Value addition – It can be stated that a CPA US holder can obtain CPA Canada designation as effective value addition through the MRA without sitting in any other additional examination for the same.
B. Dual qualification – Hence by pursuing CPA US has become more beneficial now as one can achieve DUAL Qualifications through this path.
Top preparation tips for US CPA exam in India for 2021– Like any other accounting exams, US CPA exam in India requires correct planning, constant motivation and guidance from experts. Some of the key attributes include a. Create a detailed study plan b. Support from experts c. Booking exams in advance. For further reading follow the link.
CPA US has just 4 papers to clear and you get 360 degree support from Uplift CPA to clear all 4 parts. Moreover you get the guidance for eligibility evaluation, registering to AICPA for exams, applying for NTS and applying for your CPA License.
About the top US CPA training institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA courses in India, Africa, and Middle East. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.
Uplift Pro, is an authorized partner of Gleim in India, provides you with authentic Gleim materials, updates and Live Online Interactive Classes for CPA US by internationally experienced veteran mentors. All at an Indian Cost.
Some of our exclusive features include –
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