How much do CAs earn in Canada, how long is the study period? Know the details before choosing a career

CA Jobs in Canada: Every year lakhs of Indians go to Canada for jobs. But there are some jobs for which it is necessary to study in Canada. This also includes the job of Chartered Accountant (CA). The CA degree awarded in India through the ‘Institute of Chartered Accountants of India’ (ICAI) is not valid in Canada. There are ‘Chartered Professional Accountants’ (CPAs), who work like CAs in India. CPAs are allowed to work as accountants in Canada.
There is always a demand for CPAs in Canada who work related to accounting, auditing and taxation. Indian students who want to go to Canada to pursue CPA professional education program must have a bachelor’s degree in accounting related subjects. The journey to become a CPA in Canada is quite long. In such a situation, let us know how you can become a Chartered Accountant in Canada and how much salary you can get by doing this job.

What is CPA?

The full form of CPA in Canada is Chartered Professional Accountant. This is an educational program made up of CIGA, CMA and CGA. Students who have already completed graduation in Accounting can apply for admission to CPA colleges in Canada. The Chartered Professional Accountants is a national organization representing the integration of CIGA (Canadian Institute of Chartered Accountants), CMA Canada (Society of the Management Accountants of Canada) and CGA-Canada (Certified General Accountants of Canada).

How to become a CPA in Canada?

To become a CPA in Canada as a foreign student, you will have to work from scratch. First, qualified students must enroll in a CPA Prep course. This course is a 14 module program, in which you will be taught essential skills related to the finance sector. After this you can take admission in CPA PEP program and after this the last step is Common Final Examination. If one already has a graduation degree from a Canadian university, he/she/she can directly take admission in CPA PEP.

What is the eligibility criteria for CPA?

Having valid UG degree: Students who are applying for CPA PEP i.e. CPA Professional Education Program must have a Bachelor’s degree in Accounting subjects. Having a UG degree from a Canadian university will also work. If you do not have an accounts background or are a foreign student, then first of all take admission in CPA Prep course. CPA requires 16 years of education, which means you must have passed 12th and then a four-year graduation degree.

CPA PEP: It is also necessary for the students to complete the CPA PEP i.e. CPA Professional Education Program, which must be from a CPA accredited institution. There are many institutes in Canada, which provide its certification.

Work Experience: To be eligible for CPA, it is also necessary to have at least 30 years of work experience. The accounting body will also conduct a background check before declaring you a CPA.

Language Information: Canada has two official languages, which include English and French. However, to work as a CPA, a student must have knowledge of the English language. English proficiency must be at a Level 8 level under the Canadian benchmark.

What is the CPA course like?

The course of Chartered Professional Accountant is of 2 to 3 years. Apart from colleges in Canada, some online platforms also offer CPA courses. Students who have never studied accounting or related subjects can first study CPA PREP course. After this they will have to study CPA PEP i.e. Chartered Professional Accountant Professional Education Program. It is also known as CPA Canada.

After completing the CPA PEP, students will be required to sit for a 3-day common final exam. In this test, the student’s writing ability and command of the English language will be evaluated. This exam is conducted in four parts, which include Auditing and Attestation, Financial Accounting and Reporting, Regulation and Business Environment and Concepts. Each module is scored between 0 and 99 and a score of 75 is required to pass.

What is the salary of CPA?

CPA salaries are quite high in Canada. The salaries of CPAs with good experience run into crores, which makes them among the top 2-3 percent of Canadians who get the highest salaries in the country. The average annual salary of a CPA in Canada is 77,129 Canadian dollars (Rs 46 lakh). After three years of experience, the salary of a CPA can be up to 1,43,000 Canadian dollars (Rs 86 lakh). The salary of a CPA with 25 years of experience is up to 1,80,000 Canadian dollars (Rs 1 crore).