Frequently asked questions for CGA-Canada members cover the following areas:
The agreement
Q. Is CPA Australia or the CGA-Canada making the MRA publicly available?
A. Public comment may be made in relation to this MRA but the document is not available as is deemed as confidential.
Q. What is the term of this MRA?
A. The initial term is for five years, commencing 1 June 2008. It will be re-visited for possible renewal near the end of term. Members acquiring CGA membership under this MRA will be able to maintain their membership should the MRA not be renewed.
Membership
Q. Why should I become a member of CPA Australia?
A. The MRA provides CGAs with increased recognition in Australia, China, Hong Kong, Malaysia, New Zealand and Singapore and, therefore, increased international profile and mobility.
Q. What are the annual fees for CPA Australia?
A. For further information about annual fees veiw CPA Australia's membership fees.
Q. Do CGAs need to pass any exams or take any courses before they can become eligible for CPA status?
A. Yes. CGAs must complete the following CPD requirements:
- assignment based on the Business Strategy and Leadership segment (no exam required)
- an online Corporate Governance & Accountability course
(exemptions may be granted for both subjects if an MBA has been obtained assessment on a case-by-case will determine eligibility for exemption)
Q. Will my CPA designation be recognised in other countries?
A. The CPA designation is recognised in Australia, China, Hong Kong, Malaysia, New Zealand and Singapore. However, members admitted under the terms of this MRA are not eligible for membership in other bodies under other MRAs signed by either organisation.
Q. How do I arrange to take the additional educational requirements and how much will they cost?
A. Further details will be available on association websites in mid-May 2008.
Q. Are there any exemptions for CGA members when applying for membership?
A. Yes. Members who have completed a Master of Business Administration (MBA) will be eligible to apply for an exemption (assessment on a case-by-case will determine eligibility for exemption for both subjects).
Q. If I am already a CPA, do I have to do anything?
A. No. Individuals who are currently members of both CPA Australia and CGA-Canada only need to ensure each designation's requirements are maintained to remain a member of both.
Q. I am currently doing the CPA Program, can I advance to CPA status under this MRA?
A. Yes. Individuals currently doing the CPA Program can advance to CPA status, provided they have:
- completed the Business Strategy and Leadership and Corporate Governance and Accountability segments of the CPA Program
- completed the two additional CPD subject requirements
- applied for an exemption of these subjects if they have completed an MBA
For further information about cancellation of CPA Program enrolment visit Changes to enrolment.
You will need to provide a letter of good standing from CGA Canada, complete sections A and C of the application form and send this along with a cover note indicating that you wish to advance to CPA status under the MRA with Canada.
Eligibility
Q. Are students in the CGA Program of Professional Studies eligible for CPA Australia membership?
A. No. You must complete the CGA Program of Professional Studies and practical experience requirements to be eligible to apply.
Q. Am I eligible to join CPA Australia through the MRA if I gained membership of the CGA-Canada through my membership with another body?
A. No.
Q. Does the agreement cover CGAs living only in Canada?
A. No. The agreement offers CGAs around the world the opportunity to become a CPA Australia member.
Q. I do not have a degree but have more than 15 years of experience. What is senior level experience?
A. Senior level experience means that you have held a senior position in an organisation for at least five years, including supervision of staff and the authority to sign-off financial statements. The following position titles are an indication of senior level experience:
- CEO
- president
- vice-president
- CFO
- financial controller
- general manager
- manager
- partner - public practice
- sole practitioner - public practice
- partner in non-accounting practice
(e.g. law firm)
- self employed / owner of business
- academic / teacher
Application documentation / process
Q. If I am a CGA-Canada member wanting to apply for CPA membership, what documents will I need to submit?
A. You will need to submit the following:
- 100 points of identification (see application form)
- membership status letter, which can be obtained from your CGA affiliate
- certified true copies of university academic awards and transcripts;
if applying for membership with 15 years experience, five years at senior level, provide a curriculum vitae/resume detailing level of responsibility, plus a workplace testimonial from employer/s to confirm position and period of employment. (Five years at a senior level must be demonstrated).
- admission and membership fee (see application form)
- change of name documentation (if applicable)
Q. Do I need to apply for an overseas assessment as part of the MRA process?
A. No.
Q. Can I apply for a qualifications assessment at the same time I apply for the membership?
A. Yes. Members of CPA Australia are eligible for a free skills assessment for migration purposes. If your application is approved for membership a migration assessment letter will be issued within seven to 10 working days. Please attach the member assessment application form with your admission application.
Q. How long will it take for my application for CPA Australia membership (based on my CGA-Canada qualifications) to be processed?
A. Approximately three to four weeks.
Additional education requirements
Q. How long will CGA-Canada members have to complete the additional education requirements?
A. Two years.
Q. What subject matter will the CGA-Canada members need to cover?
A. There are two subject areas that need to be covered before advancement to CPA status:
- Corporate Governance and Accountability
- Business Strategy and Leadership
Further details regarding the delivery and cost of these products will be available on the website by mid-May 2008
Q. Will there be any exemptions available to CGA-Canada members with regard to additional education requirements?
A. If a CGA-Canada member has successfully completed an MBA, he or she may be eligible for an exemption in both subjects.
Practical experience
Q.What sort of practical experience do members of each body have to have in order to be eligible for membership?
A. While some differences are expected between the bodies' requirements, practical experience should be in the spirit of the International Federation of Accountant's International Education on Practical Experience. For further information visit the IFAC website.
Q. Does CPA Australia recognise CGA-Canada's work experience requirement?
A. Yes, the vast majority of CGAs have three years of work experience. The minority of CGAs who received their designation with less than three years of experience must show that they have three years of experience before applying to become a CPA Australia member. The membership status letter must provide evidence of this.
Q. I have completed all the CGA requirements to become a member except for the practical experience component. Can I qualify under the MRA?
A. No. Only CGAs who have met the association's practical experience requirement, with a minimum of three years of work experience, can apply for CPA Australia membership.
CPD
Q. Do members of each body have to complete extra CPD?
A. No, just the CPD hours stipulated by each body, which is in accordance with IFAC. For further information visit the IFAC website.
Q. If I complete my CPA Australia CPD requirements, will this count towards my CGA CPD requirements as a member?
A. Yes. Completion of CPA Australia's CPD requirements will satisfy the CPD requirements set by CGA. However, you will be required to report annually to both CGA and CPA Australia.
Public practice
Q. Does the MRA confer the right to sign audited financial statements in countries where CPA Australia has statutory audit recognition?
A. No. Members wishing to sign audited financial statements, conduct public accounting services and act as a tax agent in Australia must obtain a Public Practice Certificate to meet the addition.
