Advantages of Indian CAs to be CPA Australia and CPA Canada in the Backdrop of CPA US | Uplift Professionals

CPA stands for Certified Public Accountant and these exams are conducted by American Institute of Certified Public Accountant (AICPA) . The CPA takes a minimum of 7 months and a maximum of 1 year to complete.

On the other hand, CA stands for Chartered Accountant and these exams are conducted by Institute of Chartered Accountants of India (ICAI) and this course takes an average of 4 to 5 years to complete.

Advantages of Indian CAs to be CPA Australia and CPA Canada in the Backdrop of CPA US

The key question that arises is whether the CPA benefits the career path or CA? There is no clear winner because both qualifications will help to grow the technical, accountancy and business management skills of a professional accountant. Moreover, both CPA and CA holders tend to be equally spread across commercial and public accounting ‚Äď so each qualification provides maximum flexibility to work across the industry.

Still the question comes to mind which is better among the two? One might be in a dilemma in selecting the right credential CA or CPA? Since the choice between CA and CPA is a big career decision, lets make a discussion which help one to take an informed decision on the same line also to look on the advantage of Indian CAs to opt for Canadian or Australian CPAs as an alternative to CPA US course.

CPAs and CAs are both highly qualified accountants that operate within a rigorous code of conduct. Broadly speaking, CAs tend to have a greater focus on the technical aspects of accounting and a deeper understanding of complex taxation matters. CPAs focus on accounting and business management as a whole.

Every business needs a good accountant, making it one of the most stable industries you can get into. But if you’d like the freedom to explore even more job opportunities in the future, then you should consider specializing as a certified practicing accountant (CPA) or a chartered accountant (CA).

CPAs and CAs do similar things with some big differences. A CPA or Certified Public Accountant can be defined as a qualified accountant certified by the AICPA (American Institute of Certified Public Accountants), having the highest level of competence in domains like finance, accountancy, and financial information services. A CPA is an international degree and the same as a lot of significance in English-speaking countries.

On the other hand, a CA can be defined as a Chartered Accountant certified by the ICAI (the Institute of Chartered Accountant in India), having expertise in finance and accountancy. A CA is a Chartered Accountant in India, and an aspirant can enroll for this course right after clearing his class 12 examinations.

1. Key Differences Between CPA vs CA :- At a Glance

The key differences between a Certified Public Accountant (CPA) and a Chartered Accountant (CA) are provided below:

1.CPA stands for Certified Public Accountant, whereas CA stands for Chartered Accountant.

2. CPA being an international degree, is recognized worldwide, whereas CA being an Indian degree, is majorly recognized in India and to some extent in a few Middle Eastern countries

3. American Institute of Certified Public Accountants or AICPA offers a CPA course, whereas the Institute of Chartered Accountants in India OR ICAI offers a CA course.

4. A CPA course is comparatively expensive as compared to a CA course.

5. An individual holding a CPA degree will be entitled to receive more salary as compared to an individual holding a CA degree.

6. A CPA course is not that difficult as compared to a CA course.

7. A CA course takes more time to complete in comparison to a CPA course. The minimum time taken for an aspirant to clear CA is around 4 to 5 years, whereas the minimum time taken by an aspirant for the completion of a CPA course is 7 months, and the maximum taken is one year.

8. The exams in CPA are conducted online, whereas the exams in CA are conducted offline.

9. Article-ship for a minimum of three years under a Chartered Accountant firm is mandatory in CA for an aspirant to attain his or her CA license, whereas the same is not applicable in the case of the CPA course.

10. CPA is a one-time online exam, whereas CA exams are executed at 4 different levels- Common Proficiency Test (CPT), Integrated Professional Competence Course (IPCC OR IPCE), article-ship for three years under a CA firm, and final exam.

11. CPA covers International Financial Reporting Standards (IFRS) as well as US Generally Accepted Accounting Principles (GAAP), whereas CA covers Generally Accepted Accounting principles (GAAP).

2. Eligibility Criteria

A. CPA

1. You need to clear Bachelors in Commerce (B. Com) with a first-class or you need to have a Bachelor’s in Commerce and also a Post-Graduation Degree.

2. And if you have Indian CA’s designation with B. Com than also you can appear for CPA examinations.

B. CA

If you want to appear for Indian CA Examination,

1. You need to appear for Common Proficiency Test (CPT) after appearing in Senior Secondary Examination (recognized by the Central Government of India).

2. CPT Examination is held in June & December every year, so the first step you need to do is you need to register for Common Proficiency Test 60 days prior to the test i.e., on or before 1st April & 1st October.

3. Career Opportunities

A.CPA

CPA designation will open a door of wide varied options. After getting your CPA certification you can work under various accounting fields such as

·       International Accounting, Internal & External Auditing

·       Consulting Services, Forensic Accounting

·       Assurance services, Taxation & Financial Planning, etc. With its global recognition, you will find the best place to work anywhere in many countries. See the list of Top Accounting firms

B.CA

Similarly, CA Designation will also provide you many options in the specialized areas of accounting such as

·       Auditing, Taxation, Corporate Finance, Corporate Laws.

·       After getting your CA Certification you can either work in the existing top firms of Accountancy or you can start your own independent professional practice.

4. Salary Comparison

A. CPA

The average salary earned by the CPA Professionals (in India) is found to INR 7,68,552 per year.  Most people move on to other jobs if they have more than 10 years’ experience in this field.

B. CA

A Chartered Accountant (in India) earns a salary of INR 6,08,976 per year on an average. Skills that are associated with high pay for this job are Evaluation and Management Auditing, Budget Management, Financial Analysis, Strategic Accounts, and Financial Advisor. People in this job generally don’t have more than 10 years’ experience. Experience strongly influences income for this job.

5. Roadmap for CA to CPA Australia: Mutual Recognition Agreement

CPA Australia has a Mutual Recognition Agreement (MRA) with ICAI.

Pathway to CPA membership

The following steps demonstrate the pathway to Associate CPA membership for full members of ICAI under the conditions of the current MRA.

1.     Eligibility

You may be eligible to apply for Associate CPA Australia membership if you:

1.1 Are a member of good standing with ICAI and not currently subject to any disciplinary sanctions or investigations

1.2 Did not gain entry to ICAI membership through another MRA, any other similar pathway agreements or any special member pathway

1.3 Have successfully completed the ICAI exams and the ICAI practical experience requirements

1.4 Hold a university degree recognized by the Australian Government Department of Education, Skills and Employment as being at least equivalent to Australian bachelor degree level. Or

1.5 Have at least five years’ work experience in professional accounting.

Upon verification of application, once you become an Associate member of CPA Australia, you must successfully complete the following course and subject:

·       Better Practice in Governance and Accountability (Online)

·       Global Strategy and Leadership subject of the CPA Program

When complete, you will advance to CPA status, receive a CPA certificate and will then be able to use the letters CPA after your name.

6.Roadmap from CA to CPA Canada: Memorandum of Understanding (MOU)

If you are a fully qualified member of the Institute of Chartered Accountants of India (ICAI), learn how you can earn your Canadian CPA designation.

CPA Canada has finalized the Memorandum of Understanding (MOU) on Reciprocal Membership Arrangement with the Institute of Chartered Accountants of India (ICAI) on behalf of the CPA provincial and territorial bodies and the Chartered Professional Accountants of Bermuda.

If you are a fully qualified ICAI member in good standing (obtained a membership through completion of the accounting body’s qualification process and not through a recognition agreement with another accountancy body), and you obtained your designation while not a resident of Canada, you may have rights to advanced standing in the CPA certification program through the MOU. Please note that MOU pathways generally lead to certification only. The right to practice public accounting may require additional examination and/or experience requirements.

1.Education and examination

ICAI members seeking their Canadian CPA designation under this agreement are:

1.1 Exempted from all CPA Professional Education Program (CPA PEP) modules, but are strongly encouraged to complete Capstone 1 and Capstone 2 (completion of these modules is not mandatory)

1.2 Required to pass the Common Final Examination

2. Experience

Assessment of experience for certification is determined by post qualification experience as an ICAI member. All members with:

2.1 More than five years of post-qualification experience and no recognized university degree are exempt from assessment of experience

2.2 More than two years of post- qualification experience and a recognized degree are exempt from assessment of experience

2.3 Applicants with less than specified post-qualification experience will be subject to a review of their practical experience obtained pre- and post-qualification.

2.4 All relevant experience must have been gained as a member or student of the Institute of Chartered Accountants of India.

7.Conclusion

It is noteworthy that Indian CAs has avenues to get both Australian and Canadian CPA without taking any extra exam. Thanks to the MRA/MOU systems. Things are not like that for CPA US course . There is no such system exist between AICPA and ICAI at present.

Considering the value and outcome, CPA US course stands atop the Canadian and Australian CPAs. Taking into account the Indian CA and CPA US course, it can be stated that both designations have their own pros and cons, it is not an easy task to opt between CPA & CA as both have a successful career.

If you are interested in working abroad or in a multinational company, then you should opt for a CPA. Alternatively, if you want to start your own audit practice in India, opt for CA. Additionally, the CA exam is less costly as compared to the CPA examination.

When taking decision it has to be kept in mind that CPA US course is a global credential where the door is wide open for a successful candidate to get job in MNCs with coveted recognition while the same door is quite narrow for an Indian CA. Hence, obtaining a CPA US course certification even after completion of CA appear highly beneficial.

What is US CPA ? Why and How to become a US CPA ‚ÄstA complete guide on¬†CPA US Course¬†including Eligibility, Details, Duration, Syllabus, Job & Salary, Exam & Pass rate, Structure of US CPA exam, Fees, etc‚Ķ.continue reading¬†..

About the top CPA US Course training institute in India, Africa, and Middle East ‚Äď Uplift Pro

Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA, Enrolled Agent US, ACCA UK 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 ‚Äď

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes and class recordings ensuring that the regular office working hours is least impacted.

D. 1:1 personal support from our 30 plus years of experienced CPA certified faculties ensuring that all our students pass the  CPA US course

E. ‚ÄúTill you pass‚ÄĚ guarantee assuring that students can attend our live online classes at no extra cost until you pass

F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world

G. Administrative guidance on US CPA evaluation procedure

H. Placement assistance

Request for Live Demo class / contact at +91-8787088850 to book your seats now.

CPA US course by Uplift Pro-Testimony

A detailed comparison between CPA US, CPA Canada and CPA Australia | FY 2023 |Uplift Professionals

Generally, when we use the term CPA we think of CPA US Course. This is because the CPA US is most widely accepted and in great demand thanks to US Companies all over the world. However, most countries have their own accounting qualifications like Canada has CPA Canada, Australia has CPA Australia and so on.

comparison between CPA US Course, CPA Canada and CPA Australia -FY 2022-Uplift Professionals
Figure 1- Comparison between CPA US Course, CPA Canada and CPA Australia -FY 2022-Uplift Professionals

A Certified Practicing Accountant (CPA) is a finance, accounting and business professional with a specific qualification. Being a CPA is a mark of high professional competence. It indicates a soundness in depth, breadth and quality of accountancy knowledge. CPAs are highly respected by employers and members. It provides members with an internationally recognized qualification as well as the opportunity to complete specialist training and continuing professional development (CPD).

1. CPA Australia

To use the CPA designation in Australia, a member must:

A. Complete a degree or a postgraduate award recognized by CPA Australia

B. Complete the CPA Program, including three years of professional experience in finance, accounting or business undertake CPD activities each year

C. Comply to a strict code of conduct set by CPA Australia.

D. To offer public accounting services, CPAs must also complete CPA Australia’s Public Practice Program and hold a Public Practice Certificate in accordance with the CPA Australia’s By-Laws.

CPA Australia is a two-part journey having a foundation program, followed by the CPA program as mentioned below:

1.1 The Foundation Program:

1. The focus of the Foundation Program is to – Impart the basics and covers 6 major areas (which are further divided into courses) including Economics, Accounting, Business Law, Finance, Financial Accounting & Reporting, and Management Accounting.

2. Depending on whether you have a graduate degree in accounting & finance, overseas graduates will have to appear for a few courses of study within this.

3. The foundation exams cover the knowledge required to become an Associate member of CPA Australia.

4. They can be taken in any order, at your choice of exam location and time.

1.2 CPA Program:

1. Upon successful completion of the Foundation Program, the main CPA Program starts.

2. The CPA Program consists of 4 compulsory subjects + 2 electives + An experience component.

3. The CPA Program, like any CA/CPA program, is extensive.

4. And similar to most such programs, the experience component (article-ship) is of a mandatory 36 months duration.

5. Subsequent to the successful completion of CPA Program requirements, you become a CPA.

6. Depending on the courses you are required to undertake in the Foundation Program, the total program stretches from anywhere between 3-4.5 years.

1.3 Switch over from CPA Australia to CPA US Course and Vice versa

CPA Australia has a Mutual Recognition Agreement (MRA) with the International Qualifications Appraisal Board (IQAB) representing AICPA and NASBA. Under this MRA, a CPA Australia member may be eligible for the CPA US credential if they are a citizen of Australia or New Zealand, or a holder of a Visa granting legal residency in Australia or New Zealand. They must also be a member in good standing of CPA Australia and meet additional criteria for prior education, relevant CPA Program examinations, practical experience and continuing professional development.

Members of CPA Australia seeking to obtain the US CPA credential via this agreement can visit the NASBA website for specific eligibility requirements. The following steps demonstrate the pathway to CPA membership for holders of a US CPA credential, under the conditions of the current MRA.

Step 1: Determine your eligibility

You may be eligible to apply for CPA Australia membership if you:

a. are a current member of good standing with a State Board and not under any investigation for professional conduct infringements

b. did not obtain the US CPA credential under a mutual recognition agreement, reciprocal membership agreement, or other similar agreements which the IQAB may have/had at any time

c. have successfully completed the Uniform CPA Examinations

d. hold a baccalaureate or higher degree

e. have satisfied the experience requirement of the relevant State Board.

Step 2: Apply

a. Complete online application and submit it with the required documentation, including your application and membership fee.

b. In your application, nominate AICPA or NASBA as the professional body with whom you studied and hold membership.

Step 3: Verification and outcome of your application

Your application will take approximately 10 to 15 working days to verify. They will send you an email informing you of your assessment outcome.

1.4 Agreement gives US CPAs path to Australia, New Zealand audit rights

Qualified CPA US’s are eligible to obtain a credential that is a pathway for obtaining audit rights in Australia and New Zealand under a mutual recognition agreement (MRA) that has been renewed.

The AICPA and the National Association of State Boards of Accountancy (NASBA) renewed their MRA with the Chartered Accountants of Australia and New Zealand (CA ANZ). The AICPA and NASBA had signed an MRA with CPA Australia in July 2018, so qualified CPA US’s have two paths to licensure in Australia and New Zealand.

Under the renewal, qualified CPA US’s may obtain the CA ANZ credential if the holders meet eligibility requirements detailed in the appendices of the MRA. CA ANZ credential holders who are citizens or legal residents in Australia or New Zealand are eligible to obtain the CPA US credential if the holders meet the eligibility requirements described in the MRA’s appendices.

2. The Canadian CPA Designation

To become a Canadian CPA, students must meet the academic prerequisites, complete the CPA Professional Education Program (PEP), pass the Common Final Exam (CFE), and obtain 30 months of qualifying practical work experience. This is the case for a majority of students but there are a few exceptions. For example, internationally trained accountants can challenge the CFE and transfer their credentials to the Canadian CPA without having to go through the entire program. This is covered under CPA Canada’s Memoranda of Understanding (MOU).

The four requirements to becoming a Canadian CPA (prerequisites, PEP, CFE, and work experience) are part of the CPA certification program. The educational component, called PEP, consist of six, 8-week modules. I find the first two modules (Core 1 and 2) to be the most challenging because of the breadth of topics tested. Fortunately, each module is taken separately, except in the fast-track modules where two modules can be taken simultaneously.

The first four modules (the Cores and Electives) have exams made up of cases and objective-format questions (MCQs). Students entering PEP from university find the cases challenging because of their integrative nature and ambiguous requirements. Case-based exams are only part of the Canadian CPA pathway, which is perhaps why the Canadian CPA is called one of the world’s most rigorous programs. The CFE is offered once or twice per year and has an average 75% pass rate. The CFE is marked based on displaying competencies and average performance.

3. The CPA US Course Credentials

To become a CPA US, students must fulfil educational requirements, pass four 4-hour exams, complete an ethics exam (if required by state), and obtain required work experience (if required by state). These four requirements (education, exams, ethics, experience) are known as ‚Äúthe four Es.‚ÄĚ

Note: While the Canadian CPA program has six modules and a CFE, the CPA US course has only four section exams:

·       Auditing and Attestation (AUD)

·       Business Environment and Concepts (BEC)

·       Financial Accounting and Reporting (FAR)

·       Regulation (REG)

Candidates take the four sections during four testing windows throughout the year. To pass, candidates must score a minimum of 75 out of 100 on each part. The four exams, which are called the Uniform CPA Exam, have an average 53% pass rate, much lower than the Canadian exam pass rates.

Unlike the Canadian CPA exams, the US CPA exams are made up of multiple-choice questions (MCQs), task-based simulations (TBS) and small written communications (WCs). There are no lengthy cases, no integrative required, and no final, multi-day exams to tackle. While the Canadian CPA program takes 24-30 months to complete, the US CPA exams have a strict 18-month deadline to complete. Let’s summarize the two options.

US CPA Exam 2021 ‚Äď New Updates¬†In 2020, the¬†US CPA exam in India¬†had few changes; the most prominent change was the introduction of the CARES Act to the REG section effective in Q4 2020. In 2021, the US CPA Exam will undergo additional changes, mainly to the AUD & BEC sections, with minor revisions to the remaining two sections ‚Äď FAR & REG‚Ķ.continue reading

4. Choosing the right program: Canadian vs. the CPA US Course

If you are interested in working as an accountant in the U.S., it’s best to pursue the CPA US course credential. You will learn U.S. GAAP and prepare yourself for an American career. It’s also quicker and more cost effective.

If you are interested in working and staying in Canada, you should pursue the Canadian CPA program. It’s a prestigious and highly respected designation that prepares you for an accounting career in Canada. It also has higher pass rates and facilitated modules. You have three attempts at the module exams and the CFE, so, if you are unsuccessful three times, you may consider attempting the CPA US course.

Despite the lower pass rates, the US CPA exams are somewhat easier due to the objective format of the questions and extended exam windows. Once you obtain your CPA US course credentials, you can either keep it or transfer to the Canadian CPA, but the process is complicated for CPA US’s who are, or have been, Canadian residents.

Practical benefits of US CPA course¬†‚ÄstBecoming a¬†CPA US in India¬†is an aspiration for many finance professionals and accountants. Most CPAs agree that becoming a US CPA completely transformed their career. Please follow¬†the¬†link¬†for further reading.

4. Switch Over from CPA US course to the Canadian CPA designation

Transferring your credentials to the Canadian CPA has many advantages. Many employers in Canada look for the Canadian CPA designation. For example, for Canadian positions that require financial reporting and tax analysis, Canadian CPAs have the upper hand in the selection process.

On the other hand, with the CPA US course, you can apply for positions such as senior financial analyst or business analyst and have the same advantage as a Canadian CPA ‚ÄĒ your work experience will take precedence. If you keep your CPA US course, you can designate the CPA letters after your name once you receive approval from your provincial CPA body. If you decide to transfer, make sure to read CPA Canada‚Äôs eligibility and transfer steps. Most Canadians will not be eligible to transfer because, assuming you were a Canadian resident while completing the US CPA exams, you will be required to have:

1. A university degree in the U.S. from having attended in person on a full-time basis,

2.Have at least one year of full-time practical experience in accounting in the U.S.

This means you must physically study or work in the U.S. to transfer your credentials. You cannot use a CPA US as a ‚Äúshortcut‚ÄĚ to attain the Canadian CPA designation.

What is US CPA ? Why and How to become a US CPA ‚Äď A complete guide on CPA US Course including Eligibility, Details, Duration, Syllabus, Job & Salary, Exam & Pass rate, Structure of US CPA exam, Fees, etc….continue reading ..

5.How to decide which CPA should you go for?

Generally, when we use the term CPA we think of CPA US course. This is because the CPA US course is most widely accepted and in great demand thanks to US Companies all over the world. However, most countries have their own accounting qualifications like Canada has CPA Canada, Australia has CPA Australia and so on.

5.1 When you have to decide which CPA to pursue, Australia or USA?¬†–

1. Understand where you want to work and the DEMAND of the degree in your country.

2. Like the CPA US course is done by a lot of people because US companies are spread all over the globe and thus there is a job opportunity.

3. Anyone intending to move to Australia should consider CPA Australia or anyone considering working in an Australian firm based in India (or anywhere in the world) should consider CPA Australia.

4. Similarly, anyone looking at working in a USA Company should consider CPA USA and the same for CPA from any other country.

5. A course like CPA should ideally be followed by a work stint in the same country so you can understand the application side better.

6. The main reason is that CPA courses are more country-specific unlike other streams of study like MBA or Engineering.

7. If one is studying CPA Australia the course would cover the Accounting Standards applicable in Australia. Not only do Accounting Standards (AS) differ but the difference gets even more as you graduate to Auditing with its country-specific standards and equally if not more so in Taxation.

So, depending on your long-term goals you can choose the right CPA to meet your needs!

6. Which CPA to Pursue? USA or Canada?

If you are interested in working as an accountant in the U.S., it’s best to pursue the CPA US course credential. You will learn U.S. GAAP and prepare yourself for an American career. It’s also quicker and more cost effective.

If you are interested in working and staying in Canada, you should pursue the Canadian CPA program. It’s a prestigious and highly respected designation that prepares you for an accounting career in Canada. It also has higher pass rates and facilitated modules.

US CPA exams are somewhat easier due to the objective format of the questions and extended exam windows. Once you obtain your CPA US course credentials, you can either keep it or transfer to the Canadian CPA, but the process is complicated for CPA US’s who are, or have been, Canadian residents. Transferring your credentials to the Canadian CPA has many advantages. Many employers in Canada look for the Canadian CPA designation. For example, for Canadian positions that require financial reporting and tax analysis, Canadian CPAs have the upper hand in the selection process.

On the other hand, with the CPA US course, you can apply for positions such as senior financial analyst or business analyst and have the same advantage as a Canadian CPA ‚ÄĒ your work experience will take precedence.

7. Summary

Think about your desired career path, the costs and benefits of cross-border work experience, and the educational requirements of each program before making the decision. If you’re interested in growing in a role that doesn’t require financial reporting nor tax analysis, either of the CPA programs may be sufficient.

If you want to stay and work in Canada, then without a doubt pursue the Canadian CPA designation or go for CPA US course as it has lesser number of papers and then apply for a Canadian CPA license through their mutual reciprocity arrangement or MOU. With over 200,000 members, you will become part of one of the largest accounting organizations in the world, learn in-depth the Canadian accounting frameworks, and become a well-paid professional with an accelerated career growth. 

Similarly, if you want to settle in Australia, go for Australian CPA or use  It is always best to pursue CPA or equivalent courses in the country of that certification. Again, as mentioned above anyone intending to move to Australia should consider CPA Australia or anyone considering to work in an Australian firm/company based in India (or anywhere in the world) should consider CPA Australia or go for CPA US course and take advantage of the MOU. 

As a whole, by going through the above information , it can be stated that for an international candidate CPA US course is more preferable due to its wide acceptance, more job prospects and switch over facilities or MOUs between AICPA and the CPA Australia and CPA Canada bodies.

About the top CPA US Course training institute in India, Africa, and Middle East ‚Äď Uplift Pro

Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA, Enrolled Agent US, ACCA UK 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 ‚Äď

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes and class recordings ensuring that the regular office working hours is least impacted.

D. 1:1 personal support from our 30 plus years of experienced CPA certified faculties ensuring that all our students pass the  CPA US course

E. ‚ÄúTill you pass‚ÄĚ guarantee assuring that students can attend our live online classes at no extra cost until you pass

F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world

G. Administrative guidance on US CPA evaluation procedure

H. Placement assistance

Request for Live Demo class / contact at +91-8787088850 to book your seats now.

CPA US course testimony - Uplift professionals
Figure 2- CPA US course – Uplift professionals

How to become a CPA Canada after being a CPA US ? | Uplift Professionals

Dear CPA Aspirant, after going through all the hurdles, you have successfully passed CPA US course and established yourself as a CPA US. Now, for some obvious reasons, you want to be a Canadian CPA too but might be a little bit confused about how to go for it or what are the procedures? Is it too complicated? Will you have to sit for another exam? This blog is created to clear all your doubts and confusions to provide you a smoother journey. Let’s discuss.

First of all, make it clear that If you hold a CPA US course credential, you can earn a Canadian CPA designation. To obtain the Canadian CPA designation, eligible CPA US must register with the appropriate provincial/regional CPA body by: completing the International Candidate Application Form and sending it to the provincial/regional CPA body to which you intend to apply. Here are the details.

How to become a CPA Canada after being a CPA US course -Uplift professionals

1. MRA- The avenue

The mutual recognition agreement (MRA) between all Canadian CPA bodies and the U.S. International Qualifications Appraisal Board (IQAB), representing the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA), came into effect on January 1, 2018.

2.Provincial/regional CPA bodies grant members the right to:

A. Use the CPA designation

B. Be registered

C. Audit

D. Other services or licensure

3.CPA Eligibility Requirements

Holding a CPA US credential give you the privilege to be eligible to obtain the Canadian CPA designation via this MRA if you are a licensee in good standing of a State Board, and you meet the following additional criteria:

3.1 Criteria

1.You have the equivalent of at least 150 semester hours of college or university education, including a baccalaureate or higher degree conferred by a college or university acceptable to a State Board. CPA US’s who qualified prior to the introduction of the 150-semester hour requirement are grandfathered in by this agreement as having met the 150-semester hour requirement.

2. You have passed the Uniform CPA Examination.

3. You have 30 months of relevant practical experience. Applicants with two years of relevant post-qualification experience are considered to have met the 30 month experience requirement. Applicants with less than two years of relevant post-qualification experience must complete the International Practical Experience Verification and Employer Details form.

4. You are in compliance with the Continuing Professional Education (CPE) requirements of your State Board.

Note: CPA US’s who are, or have been, Canadian residents must meet additional requirements. Applicants who wrote one or more parts of the US Uniform CPA examination while:

A. a resident of Canada; or

B.  after they became a resident of Canada; or

C. after they returned as a resident to Canada

3.2 In addition to the above eligibility requirements, have obtained either:

1. A university degree from a degree-granting institution of higher education in the United States of America (USA) as a result of having attended the institution in person for classroom instruction on a full-time basis; or

2. Have at least one year of full-time practical experience in accounting in the USA.

Upon checking the above mentioned eligibility criteria, if you want to decide to opt for Canadian CPA, take the following steps.

4.Trail towards Canadian CPA Designation for CPA US Holders

To obtain the Canadian CPA designation, eligible CPA US’s must register with the appropriate provincial/regional CPA body by:

1.Completing the International Candidate Application Form and sending it to the provincial/regional CPA body to which you intend to apply

2.Completing the Certification of Membership with US State Board form

3.Providing confirmation that you are a CPA US in good standing with your Home Institute; such confirmation must be provided by the Home Institute directly to the provincial/regional CPA body

4.Providing proof of your legal name as evidenced by acceptable government-issued documentation

5.Providing a detailed chronological resume listing all relevant work experience

6.Paying the appropriate fee as determined by the applicable provincial/regional CPA body

7.Completing any additional requirements as prescribed by the applicable provincial/regional CPA body

5. Maintenance of membership

Once you cross the above steps and become a Canadian CPA, you have to make your membership active. In order to maintain membership with the applicable provincial/regional CPA body through this agreement, you must successfully complete the CPA Reciprocity Professional Development (CPARPD) course within two years of your official membership admission date. This course consists of approximately 20 hours of online study in Canadian tax, law and ethics in a modular form. Applicants must register for this course through their provincial/regional CPA body.

Practical benefits of US CPA course¬†‚ÄstBecoming a US CPA is an aspiration for many finance professionals and accountants. Most CPAs agree that becoming a US CPA completely transformed their career. When you get your CPA license, it opens a wide range of opportunities both in India and abroad. For further reading please follow the¬†link.

6. Pathway requirements for licensure

While the CPA profession strives for national consistency, provincial regulations and bylaws take precedence over national practical experience requirements. Applicants should refer to provincial regulations and bylaws for the specific requirements in each jurisdiction. Once eligible to become a member of a provincial/regional CPA body, you may receive a license to practice public accounting in Canada if you meet the following criteria:

1. You meet any additional Canadian CPA experience requirements for public accounting, which may include at least 1,250 chargeable hours in assurance, of which a minimum of 625 hours must be obtained in the audit of historical financial information

2.Appropriate audit experience

3. If obtained in the USA, it may count towards meeting the more than 1,250 / 625 chargeable hours’ requirement.

4.It must be within five years of application to the provincial/regional CPA body.

5.It must meet any additional experience requirements for public accounting specific to the provincial/regional CPA body in which you seek the right to audit and to other services requiring provincial registration or licensure.

6.Complete the CPA Reciprocity Education and Examination (CPARE) program

7.Applicants must register in the CPARE program through their provincial/regional CPA body

8.Applicants who pass the CPARE program within two years of obtaining membership with a provincial/regional CPA body will not be required to also complete the CPARPD.

US Certified Public Accountants Salary in India :-  A fresh CPA US in India starts with an average annual salary of INR 7 Lakhs in a Big4 or MNC. The salary of a CPA increases at a higher rate than his non-certified peers. A CFO in India earns within average monthly salary of INR 12-25 Lakhs.

7. MRA Exclusions

CPA US’s who obtained their CPA US course credential by qualifying under a reciprocal agreement that the NASBA and the AICPA may have with another professional accountancy organization are not eligible under this agreement. This includes all mutual recognition agreements, reciprocal membership agreements, and other similar agreements that the NASBA/AICPA may have had at any time. The Canada-USA Reciprocity list identifies the U.S. state boards with which Canadian CPA bodies currently have reciprocity agreements.

8. Is AICPA accepted in Canada?

The AICPA is proud to offer qualified CPA Canada members access to select advisory credentials, including the Certified in Financial Forensics (CFF) credential and the Certified Information Technology Professional (CITP) credential.

8.1 At a Glance

A. A successful CPA US course achiever doesn’t have to sit for any other exam to be a CPA Canada.

B,. This exemption has become possible through the Mutual Recognition Agreement( MRA) in operation since January,2018.

C. Fulfilment of required administrative procedures upon registration with the respective provisional/regional CPA body.

10.Benefits of holding CPA US and CPA Canada

A. Value addition ‚Äď It can be stated that a CPA US course 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¬†‚Äď 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‚ÄstLike 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.

11.What about the Canada CPA to US CPA?

Membership recognition agreements also allow Canada CPA holders to go after the CPA US course credential. However, candidates may have to jump through some extra hoops. Specifically, candidates:

· Must pass the IQEX, or the International Qualification Examination.

· Should apply to their chosen board of accountancy and learn about their requirements. For example, candidates might need additional college coursework to reach 150 hours, pass an ethics exam, or take CPE courses.

Summary

To sum up, it can be stated having a CPA US course credential is more advantageous to obtain a Canadian CPA certification in an easy manner without sitting for a separate exam. Depending on your career location, you can select which one to use.

Furthermore, a dual certification would be a great value addition to your career. CPA US course 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 CPA US Course training institute in India, Africa, and Middle East ‚Äď Uplift Pro

Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA, Enrolled Agent US, ACCA UK 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 ‚Äď

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes ensuring that the regular office working hours is least impacted. Moreover, they provides class recordings.

D. 1:1 personal support from our 30 plus years of experienced CPA certified faculties ensuring that all our students pass the US CPA course

E. ‚ÄúTill you pass‚ÄĚ guarantee assuring that students can attend our live online classes at no extra cost until you pass

F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world

G. Administrative guidance on US CPA evaluation procedure

H. Placement assistance

CPA US course by Uplift Pro-Testimony

Request for Live Demo class / contact at +91-8787088850 to book your seats now.