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 CGA-Canada?
A. The MRA provides CPAs with increased recognition in Canada, Bermuda, the nations of the Caribbean, the People's Republic of China and Hong Kong and, therefore, increased international profile and mobility.
Q. What are the annual fees for CGAs?
A. The membership application fee is $300 CAD. This fee may vary by province.
CGA-Canada's annual membership dues vary by province, but average $800 CAD per year. Offshore membership dues are $410 CAD. These fees are subject to change. Contact the appropriate CGA office for more information.
Q. Do CPAs need to pass any exams or take any courses before they can become eligible for CGA membership?
A. Yes. CPAs must complete the following two online CPD courses:
- Overview of Canadian Tax and Law (an exemption may be granted)
- The Professional Applications Reciprocity Evaluation (PARE), available beginning June 2008 (an exemption may be granted if the applicant has obtained an MBA or other master's degree with a business or tax focus).
Q. Will my CGA designation be recognised in other countries?
A. The CGA designation is recognised in Bermuda, the nations of the Caribbean, the People's Republic of China and Hong Kong. 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 CPA members when applying for membership?
A. Yes. Members who have completed a Master of Business Administration (MBA) or a master's degree with a business or tax focus may be eligible for an exemption from the PARE CPD course (assessed on a case-by-case basis).
If the applicant has completed TX1 through CGA or an equivalent transfer credit course (with a passing grade) from a Canadian post-secondary institution within five years of application.
Q. If I apply for membership with CGA-Canada under this MRA must I keep my CPA Australia membership?
A. Yes. Members of both bodies are required to keep their original designation if they are accepted as a member of the other body.
Q. Why become members of both organisations?
A. Dual members will benefit from the international exposure and worldwide resources of two leading designations. By leveraging on the expertise of two distinguished accounting bodies, dual members will be able to avail themselves of the best of both worlds.
Q. If I am already a CGA, 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.
Eligibility
Q. Are Associate (ASA) members eligible for CGA-Canada membership?
A. No. You must complete both the CPA Program and Mentor Program to be eligible to apply.
Q. Am I eligible to join CGA-Canada through the MRA if I gained membership of the CPA Australia through my membership with another body?
A. No.
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 CPA Australia member wanting to apply for CGA membership, what documents will I need to submit?
A. You will need to do the following:
- Complete the initial application form
- Contact CPA Australia and request a letter of good standing
- If you are applying for membership under the 15 years of experience provision, provide a copy of your CV
- Submit the initial application form, letter of good standing and your CV (if required) directly to the appropriate office
- Contact your post-secondary institution to have an official sealed transcript of your degree sent directly to the association
Q. How long will it take for my application for CGA-Canada membership (based on my CPA qualifications) to be processed?
A. Approximately three to four weeks
Additional education requirements
Q. How long will CPA Australia members have to complete the additional education requirements?
A. Two years.
Q. What subject matter will the CPA Australia members need to cover?
A. There are two subject areas that need to be covered before advancement to CGA status:
- Overview of Canadian Tax and Law
- Professional Applications Reciprocity Evaluation (PARE)
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 CPA Australia members with regard to additional education requirements?
A. If a CPA Australia member has successfully completed an MBA or another master's program with a business or tax focus, he or she may be eligible for an exemption.
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 CGA-Canada recognise completion of CPA Australia's Mentor Program as 'relevant work experience'?
A. Yes, CPA Australia's Mentor Program complies with the International Education Standard on Practical experience.
Q. If I am a CPA applying for CGA-Canada membership, will I get any exemptions from the CPA Program / Mentor Program?
A. CGA-Canada membership requires completion of the CPA Program (which includes the Mentor Program).
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 CGA-Canada CPD requirements, will this count towards my CPA Australia CPD requirements?
A. Yes. Completion of CGA-Canada's CPD requirements will satisfy the CPD requirements set by CPA Australia. However, you will be required to report annually to both CGA and CPA Australia.
Public practice
Q. Does the MRA confer the right to practice public accounting in Canada?
A. No, members wishing to register in public practice must meet the Association's entry to public practice requirements.
