Is it possible to earn a CPA without a public Accounting job?
I’m a 25-year-old male in Canada currently working in Wealth Management/Investment Research. I recently enrolled in a CPA fast-track program, allowing me to complete the Professional Education Program (PEP) in a year and sit for the Common Final Examination (CFE) next fall.
The challenge I’m facing is that my current position may not meet the Practical Experience Requirements for Training (PERT). My boss, who is a CPA, suggested that I consider spending three years at a Big 4 firm to obtain my CPA before returning. While I appreciate his advice and support, I genuinely enjoy my role and working with him.
I also completed my CFA in 18 months while in school, and I’ve developed a bit of a passion for tackling exams. I want to seize the opportunity to earn all my designations while I’m still in my prime. I’m concerned that if I don’t pursue the CPA now, I might regret it later.
So, I’m reaching out for insights: Are there non-public Accounting positions that would qualify for PERT? For instance, would a role in Financial Planning & Analysis (FP&A) be acceptable? I have experience in equity research and financial modeling, and I think it would be exciting to contribute to decision-making within a company.
I’m eager to explore options that won’t waste time if there’s an alternative route available. Thank you!
One response
It’s great to hear you’re so proactive about your career and keen to get your CPA! While traditional paths to obtaining the CPA often involve public Accounting, there are indeed non-public Accounting roles that can qualify for the Experience Requirement (PERT) in Canada.
FP&A (Financial Planning and Analysis): This is a solid choice. FP&A roles frequently involve budgeting, forecasting, and financial analysis, all of which are valuable skills in the CPA framework. If you can demonstrate that you’re contributing to financial reporting, analysis, or decision-making, this could count towards PERT.
Corporate finance: Positions in corporate finance can also qualify, particularly if they involve financial analysis, investment analysis, or risk management. Experience in evaluating investment opportunities aligns well with the CPA skillset.
Internal Audit: If there’s a chance to transition into an internal Audit role, this could provide the thorough understanding of financial operations and controls required for PERT.
Treasury or Risk Management: Similar to FP&A, these roles involve managing a company’s financial resources and risk, which can be relevant to the CPA competencies.
Accounting in Other Industries: If you can find a role in the accounting or finance department of a corporation (not public), this could potentially meet PERT qualifications. Just ensure it involves enough technical accounting work.
Consulting Roles: If you have opportunities in advisory or financial consulting outside of public accounting, those might also qualify.
To ensure that any role you consider meets the CPA’s requirements, it’s best to speak directly with your provincial CPA body or a CPA mentor. They can provide guidance on what specific experiences count towards PERT.
Remember, maintaining your current job satisfaction is crucial too, so look for opportunities that align with your career goals without compromising your role and work environment. Good luck!