Advice for ACCA Students in Ontario, Canada
In a recent thread, u/PlaneAggressive7729 raised an important question regarding their eligibility to join CPA Ontario after completing the ACCA advanced diploma in Accounting and finance, having taken 9 ACCA papers and without holding a bachelor’s degree.
I want to share an alternative perspective. Despite being a designated CPA, I encourage you to continue your ACCA studies.
There’s a looming change on the horizon: CPA Canada plans to remove the option for industry experience verification by 2027. As the job market evolves, many positions now expect candidates to have both a CPA designation and an Accounting degree.
By the time you finish your degree, your academic performance might impact your chances of qualifying for a pre-approved training program with a CPA-approved employer.
Here’s a breakdown of potential pathways:
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Contact ACCA: Inquire if you can take a break from your student status and return later.
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Pursue a Canadian Accounting Diploma: Enroll in a full-time diploma program, which constitutes the first two years of a bachelor’s degree.
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Gain Entry-Level Experience: Secure a position in an entry-level accounting role.
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Continue with a Canadian Accounting Degree: You can study full-time or part-time to obtain your degree.
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Consider Job Opportunities: Try to get an accounting position, if you haven’t already.
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Complete Remaining ACCA Exams: Finish the last three ACCA papers: SBR, SBL, and two electives.
Only pursue the Canadian CPA designation if you obtain an accounting job with a pre-approved employer after Step 4.
One response
Your response provides a thoughtful approach for u/PlaneAggressive7729. I think highlighting the importance of both the ACCA and a Canadian degree is crucial, especially with the evolving landscape of Accounting certifications in Canada.
Here’s a brief summary and additional thoughts you might want to consider for your advice:
Summary for u/PlaneAggressive7729:
Continue Your ACCA Studies: Maintaining your pursuit of the ACCA will provide you with valuable credentials that are recognized internationally, and can only enhance your skill set.
Pursue a Canadian Accounting Degree: Since many employers are now looking for candidates with a degree in addition to a CPA designation, obtaining a degree should be a priority. You can start with a Canadian diploma in Accounting, which will lay the groundwork for your degree.
Gain Practical Experience: Look for entry-level positions in accounting to gain valuable industry experience. This can also help you network and understand the local job market better.
Plan for CPA Requirements: Keep an eye on the requirements for CPA Ontario, especially with the upcoming changes in 2027. Securing a job with a pre-approved training program is essential for meeting those requirements.
Balance ACCA and CPA: If you find yourself in a role aligned with a CPA-approved employer, you can consider transitioning to the Canadian CPA education stream while completing your ACCA qualifications.
Ultimately, your roadmap not only emphasizes immediate steps but also encourages the idea of lifelong learning and adapting to the accounting profession’s changing demands. Good luck, and I hope u/PlaneAggressive7729 finds your advice helpful!