Picking a profession in any field requires some basic research. The criteria to choose must include the following criteria:
- Does it interest you?
- Is there a required educational qualification required for it? If yes, are you eligible? If not, how can you become qualified?
- What would your career roadmap be like?
- Is it worth the investment?
- Does it reflect your career goals?
If you are planning to take up accounting as a profession, we did the research part for you. This article covers the requirements, criteria for qualification and a possible roadmap for a Canadian professional in Canada.
Before delving deeper into the career requirements, here’s a quick answer to the most common question:
Why is accounting a good career?
Accounting is one of the most promising professions in all financial industries. A career in accountancy not only helps you polish your number crunching skills and technical proficiency, but also soft skills such as business understanding, analytical and problem-solving abilities, leadership, teamwork, planning and organization, as well as communication abilities.
In order to assess accounting as a potential career choice for you, you must assess if there are opportunities available for you in the Canadian market.
How much do accountants make in Canada?
This clearly points out the popularity of this profession and the availability of opportunities in this industry in Canada. This is a lucrative field, especially for up and coming accountants with little to no experience. In Ontario, the average wage of an accountant is approximately $35.16 per hour.
How to get a job in Accounting in Canada?
- Earn a Degree in Accounting from An Accredited Institution
To become a Chartered Professional in Canada, you must have an undergraduate degree – bachelor’s in business administration with accounting as a major or a bachelor’s in accounting that includes additional coursework in management, marketing and finance. Obtain a degree in one of these to take your first step towards a career in accounting.
- Get Certified
The Chartered Professional Accountants in Canada is the major governing body for accounting certifications in Canada. It requires you to meet the eligibility criteria to be admitted into the CPA Professional Education Program. This is done to ensure that you are able to demonstrate the core competencies of an accounting professional. Towards the end of your preparation, you have to take up a 3-day exam offered by CPA Canada.
- Obtain 30 months of Industry Experience Under Mentorship
As per the requirements, you should complete a minimum term of 30 months of relevant work experience. It is recommended to include demonstrated proficiency in a selection of the following 6 key technical competencies:
- Financial Reporting
- Management Accounting
- Audit and Assurance
- Strategy and Governance
- Finance
- Taxation
Apart from being technically sound, a CPA is required to reflect enabling competencies that take into account the soft skills of a professional. These are skills like leadership, management, decision making, work ethics, adaptability, interpersonal skills. These skills have to be developed under the supervision and guidance of the CPA mentor of your province and form an integral part of the overall CPA assessment program.
Additionally, you need to report the overall experience development on the Practical Experience Reporting Tool as subjected to the guidelines in your province. In Ontario, it is at least twice in every 12 month period of employment tenure.
A profession in accounting can be challenging yet opens door to a bright career. To be able to find work related opportunities in Canada, consider getting in touch with accounting recruiters in Toronto that specialize in staffing solutions for temporary and permanent accounting positions
What if you don’t have an undergraduate degree to become a CA in Canada?
f you don’t have an undergraduate degree, you must be able to prove 8 years of relevant work experience that reflects key technical competencies along with 3 letters of reference and personal statements. You must also complete CPA prerequisite education courses for equivalence.
What if you have foreign CA degree?
If you have a foreign CA certification and education, it must be assessed in advance by CPA Canada before you start working in Canada.
At Controllers on Call, we work as a team to find you your next best accounting job that matches your skills and guide you throughout the placement journey. Get in touch with us for more enquiries
