Canadian Immigration and ACCA, CIMA, CFA or CMA

[Toronto_Boy]

Dear gajini

Please see detail procedure at;
http//www.icao.on.ca/Admissions/QualificationProcess/1010page1354.aspx

Yes, you would have to complete Bachelor degree first to be enrolled with CICA. You may get a Pakistani bachelor, but the risk is, even if the degree would be accepted to CICA, still you would have to satisfy 51 Cr. Hr. requirement if those courses are not included in Pakistani bachelor or if certain courses are not accepted by CICA. On the other hand, if you complete Bachelor from CICA accepted Canadian university then you would not have to be worried about 51 Cr. Hr. requirement.

Please contact CICA directly as your questions are much specific to requirements and CICA's policies. CICA's website is quite comprehensive, please spend some time on it.

Regards

[talhaaz]

Mr. Toronto boy I have a question from you. I am a professional level student of ACCA. I started ACCA after doing A levels which means that I am not a graduate. However, I scored straight A's in A levels. I didn't know much about Accountancy bodies when I started ACCA but the only thing that was in my mind was to go abroad.
I am well aware of the fact that ACCA has an MRA with CGA. My question is that if I become an ACCA member in Pakistan and then apply for CGA through MRA with ACCA, what will be my future prospects in Canada? Will I be able to get a Cannadian work permit easily and find a well paid job?
Some of my friends who are also doing ACCA are also planning to claim exemptions from ICAEW, as big 4 and some other firms in Pakistan are now also registered ICAEW firms and a local college is also providing tuition for advanced stage of ICAEW. Please tell me that will it be a good idea to claim exemptions from ICAEW professional stage after completing ACCA exams and then completing ACCA and ICAEW articleship simultaneously from a registered ICAEW firm in Pakistan.
To sum up my question is that if I want to migrate to Canada, which one is a better option. To gain CGA through MRA or to go for ICAEW as it is the best accountancy body around the world. I would be very pleased to get a reply from you soon.

[MRS]

Dear Toronto Boy,

I must appreciate your efforts to share the information with the prospective Canadian immigrants. No doubt your posts are very helpful for us.

I am ACMA and working as finance manager in a private limited company , I have got the immigration visa and am planning to visit Toronto in October. After reading your post I have decided to enrol with CGA, the ICMAP website suggest that the qualified members of the institute can get exemptions in 13 papers of CGA (i.e. complete exemptions till level 3 and one paper exempt in level 4) now I was just wondering that whether enrolling in the CGA program in level 4 will add value to my resume and increase my chance for job at least at accountant level ? further do we have to take classes or it can be done by distant learning.

Please also share other preparation one might do before coming to Canada specially during winters.

Thanks for your valuable efforts, keep it up


M.Rizwan

[gajini]

Dear Toronto boy

I wanted to ask that if someone does FRM then what is its value in Canada. Will he be able to gain a good job

[Toronto_Boy]

Dear Talhaaz

“Work Permit/Visa” and “immigration visa” are two different type of visa for which requirements are different. In my personal view, it is easier to get immigration visa as compared to work visa, as already almost every type of professionals are available here in abundance. So no employer bothers to arrange for work visa for a worker from distant land. Even requirements are quite tough for that.

So, interested people and students in Pakistan may plan/prepare their case according to requirements of immigration visa and work toward that. It is more doable option with which thousands of Pakistanis immigrate to Canada each year.

You wrote, “My question is that if I become an ACCA member in Pakistan and then apply for CGA through MRA with ACCA, what will be my future prospects in Canada? Will I be able to get a Canadian work permit easily and find a well paid job?” Well you would be after all CGA, which is one of 3 preferable Canadian designations to Canadian employers, though without Canadian experience. You would be more preferable than other candidates who would not have Canadian designations or would be working toward one of those. Canadian designation and Canadian experience are two very important ingredients of getting a professional job in Canada. At-least you would have one of these two ingredients. I tell you upfront, it would be a huge advantage of having a Canadian designation. Unlike those who would be working hard to get a Canadian designation to survive in this economy after their landing, with efforts for better job, and with other responsibilities and obstacles. Still, you should also consider that you would be an immigrant from totally a different country, culture, economy, language, life style etc. etc. Please do not think that if you would have CGA and landing paper, you would not see any difficulty in finding a job. You must have to do efforts in new country/ environment and you would have to prove yourself to potential employers.

Just imagine about a queue of applicants competing for jobs. You would be ahead of many of them who would not have Canadian qualification. However, you would be behind those who have Canadian qualification plus experience.

ACCA/CGA from Pakistan, with a relevant degree, and at-least 2 or 3 years of relevant experience would satisfy requirements of getting immigration visa from Pakistan.


You wrote, “To sum up my question is that if I want to migrate to Canada, which one is a better option. To gain CGA through MRA or to go for ICAEW….”

I can simply point out some considerations from Canadian perspective. You would have to decide yourself.

ICAEW is a good qualification. You may get a good job solely basis of it, but generally speaking employers ask for Canadian designations. If you go for CICA’s CA after ICAEW, you would have to take reciprocity exam. Also, CICA most likely would not accept your Pakistani public accounting experience so eventually you would have to get a job in CICA ATOs to satisfy CICA’s experience requirement. Finding a job in ATO here is quite a difficult task specially for an immigrant. Your job search criteria would be limited to ATOs. However, it is upto your luck. So if you could not get a job in ATO, you cannot complete CICA’s CA.

With CGA (through ACCAs MRA), you would already have a Canadian designation to find a job in industry or in public accounting. With CGA, if you want to get CICAs CA, you would have to write only final UFE exam (of CICA). Still you would have to satisfy public accounting experience requirement in CICA approved ATOs.

So choice is yours. Either ACCA then ICAEW then reciprocity exam for CICA and experience in ATO, or ACCA, CGA through MRA, UFE exam for CICA and same experience in ATO.

I hope it helps.

Regards

[Toronto_Boy]

Dear Rizwan

Welcome to Canada. Your initial time would be difficult, but later you would enjoy straightforward and peaceful life. Don’t be discouraged with difficulties, every new immigrant goes through these. Your hard work for ACMA(P) ensures that you are quite capable of bearing difficulties of upgrading your qualification as per Canadian requirements. With efforts, you would be settled here one day InshaAllah. Though it would take some time (months/years), but it would be a temporary phase. Every one has passed through this phase, so don’t worry you would not be alone.

If your immigration visa is not expiring, I would suggest you to come here after mid March next year. Though job market is picking up, still it has effects of recession. Moreover, job postings remain at quite low level in December and January. Also, you would not be exposed to this kind of winter which would leave a bad impression on you. It would be like “sar mundatay hi olay parna”. Still, it is your choice.

In my opinion, CMA Canada is better option for you. As member of ICMA(P), enterance exam (biggest hurdle) of CMA Canada is exempt to you. So you may start directly 2 year CMA SLP program. It would be easier than taking leftover 7 CGA exams, less time and efforts consuming, and closer to CMA cost wise. Though CMA cost is Cad $9,500 for 2 years (to be paid in installments in 2 years), but if you calculate total cost of leftover papers of CGA, CGA annual student membership fees, initial evaluation fees, fees if you fail in one or two papers, the total CGA fees would be closer to CMAs Cad$ 9,500. In any case, CGAs leftover papers would easily eat-up your 3 years. CGA allows only one paper per semester and usually 3 papers per year. Also, PA1 and PA2 must need 6 months time difference before each PA1 and PA2. These are offered only twice a year and a candidate must have passed all other papers before enrolling for PA1. Usually, students take university equivalent courses (of CGA courses) up-to level 4 from any approved Canadian university as these are relatively easy.

However, CMA requires a relevant job along-with SLP studies. So, if they allow you somehow or if you quickly get a reasonable job which CMA accepts, then CMA would be a good option in your case. You may get student loan for CMA or CGA studies. Don’t worry about the amount, you would repay total amount within 2 or 3 months of salary of any reasonable job.

Off-course, mentioning 4th level student of CGA on resume brings weight for employers. Distant learning or in class both options are available for CGA courses. Mostly students take distant learning option.

From winter point of view, I would say, buy some leggings (5 or 6), don’t buy sweaters as no one wears sweaters here, don’t buy any other type of Jackets except one or at-most two leather Jackets. You would have to buy a regular Jacket from here right after landing which would be according to fashion here. Couple of suits (i.e. Coat Pant etc. for formal interviews, but not many). Absolutely no overcoats. One pair of gloves and a muffler. You would have to buy more of these things from here. Bring some formal shirts (at-least 12) and pants (at-least 6), your laptop if you have (you must need a computer here to apply for jobs, however you may buy a desktop or laptop here which are generally cheap). Couple of jeans and leather shoes. Also, other regular stuff and pants/shirts/T shirts. Bring you medicines of at-least 3 months of supplies, as a new immigrant become eligible for free medical services after 3 months from date of landing, otherwise you would have to pay for doctor’s fees. Check and get prescription glasses if you need. Get dental work done if you need. Eye test, dental work, prescription (eye) glasses are not covered and quite expensive so you would have to pay if you need. Don’t forget software CDs of your need.

I hope it helps.

Best Wishes

[Toronto_Boy]

Dear gajini

Please check number of job postings for FRM on workopolis and moster.ca wesites, links of which I have provided earlier on this thread.

If you are asking for your father, CIA would be much helpful, easier to complete, and more relevant to his qualification/experience as compared to FRM.

FRM is a good qualification for which Canadian employers ask for, but in presence of thousands of CFAs here, FRM alone may not be much helpful. However, it depends upon several other factors. I think, I have written enough about FRM in this thread. Unfortunately, I don't know more than that. I hope you would ignore my lackings.

Best Wishes

[MRS]

Dear Toronto Boy,

Thanks for your detail reply, I was told by one of our members from canada that even if one clears remaining papers of CGA you cannot get certification as the criteria of being graduate has to be met and the graduates from Pakistan have usually two years study so they are not considered as graduates in Canada, do you have any information on this issue.

Second, the CIMA UK has introduced a new accelerated route for members of ICMAP and ICWAI. This route is called CPGA and through this route the members of ICMAP are required to pass a CPGA exam to get exemption up till managerial level and then we have to pass 3 papers of strategic level and finally TOPCIMA to get certification. In short we need to clear 4 papers plus TOPCIMA to get CIMA certification, I need your advice should I target CIMA or Canadian qualifications like CGA & CMA and can I appear in CIMA exams from Toronto.

I have accepted your advice regarding coming to Canada, I will inshallah land in March 2009, but I might travel in October just for landing purpose and fly back to finish some assignments.

Thanks again and if you don't mind can you share your contact numbers, just if I need to talk to you when I am there. My email is [email protected]

Regards

M.Rizwan

[talhaaz]

Dear Toronto boy,

Thank you very much for replying. The information you provided was really of an immense help.

Best Regards

[Toronto_Boy]

Dear Rizwan

Yes, CGA needs at-least 3 years degree if not 4 years, to award designation. If a candidate from Pakistan has 2 year Bachelor degree then he/she must have to do further bridging courses to have degree at Canadian standard. But degree is also CMA Canada’s and CICA requirement too. So, you have to check with CMA Canada if you go for CMA Canada option. If you have 2 years degree then, unfortunately, CGA is further distant designation for you.

However, you may only get your initial evaluation from CGA, and write on resume that you are a student completing level 4 courses. In interview, you may say that you are completing CGA equivalent courses from University.

I have no idea about CIMA as route for CMA Canada. You may calculate the cost and time required for CIMA. Once I heard about a person completing his CIMA courses in Toronto. Perhaps the exams were proctored through British consulate/embassy here. I am not sure about this availability. Please ask directly from CIMA. Also, confirm that CMA Canada would not have any objection later in conversion as you would have completed CIMA courses while living in Canada. I am saying this because CICA has this requirement for reciprocity exam writers not to attain first designation while living in Canada.

ACCA exams can also be taken here. So, it may be one option too depending on how many exemptions you have basis of ACMA(P). But make sure you do not have enrollment with CGA as student ever, otherwise CGA would not give you designation through ACCA MRA. This MRA is not for ACCA members who have been CGA students.

When you land here in October, make sure you apply for SIN number, health card, open a bank account, and apply for G1 driver’s license. So, when you come back in March 2010, your health card would be ready for use. Send a mailing envelop (with your name and address in Toronto on it) on your probable address in Toronto. You would need this envelop as proof of residence to apply for health card. Ask the person to hold it for you. Also, some years back, there was a requirement that an immigrant cannot live outside Canada for more than 180 days till he becomes citizen. Make sure you come back within 180 days, if this requirement is still valid.

CIA may be a good option too meanwhile. You are exempted from one exam and need to take first three exams. It is quick and doable option. Please check details on IIA website or on this forum.

I hope it helps.

Best Wishes

[MRS]

Dear Toronto Boy, Thanks for the information, I just could not get your point on health card, you have said that i should send mailing envelops on my address in toronto, can you clarify what kind of envelopes and why ? . I was told by some members that i cannot apply for health card on my first visit as i need to be resident of ontario for 3 months , don't you think that i will get caught as my passport will show that i have exited with in one month.

Yes you right that CIA is also a good option infact i have enrolled with CIA karachi chapter and will appear in paper 1 in november or december.

Regarding CMA canada , are you sure that i will get exemption in enterance exam, as i read some where that they give exemption in part 1 of entrance exam.

Thanks again

M.Rizwan

[Toronto_Boy]

Dear Rizwan

To apply for health card, applicant needs 3 pieces of ID to prove name and residential address. An envelop showing your name and address in Toronto may be one of those 3 IDs. However, list of acceptable IDs is quite long, from which 3 IDs are required. An envelop with name and address on it may be an easy one for a new immigrant, to prove residential address in Toronto. You may mail one envelop to yourself once you are here. It takes generally 2 days to receive mail within Toronto. Your Pakistani passport may be another one. Perhaps your immigration visa may be 3rd one, I am not sure though. Details about health card can be found at following links.

http//www.health.gov.on.ca/en/public/programs/ohip/default.aspx
http//www.health.gov.on.ca/en/
http//www.health.gov.on.ca/en/public/programs/ohip/ohipfaq_mn.aspx

Few years back, CMA Canada had 2 parts entrance exam i.e. part 1 MCQs based and part 2 Case exam. These days CMA Canada has changed the procedure and now part 1 MCQs based is called the entrance exam after which students start SLP, and ALL candidates write Case Exam at the end of 1st year of SLP, and Board Report at the end of 2nd year of SLP. Following link may be helpfull about ICMA(P) exemption for entrance exam;

http//www.cma-ontario.org/index.cfm?ci_id=7783&la_id=1#005

You have to check with CMA Ontario about the length of degree acceptable to CMA Ontario. Their documents evaluation is free. I would suggest you to apply with CMA Ontario for your free evaluation so you would know with more surety what you need to do in your specific case. Prepare required documents for free evaluation and apply when you are here.

I hope it helps.

Regards

[MRS]

Thanks Toronto boy, the information provided is really helpful.

M.Rizwan

[sumairalam]

[quote]<i>Originally posted by Toronto_Boy</i>
<br />Dear Rizwan


Dear Toronto_Boy, I copied your above referred post in another forum, I hope you dont mind.

Best Regards

[Toronto_Boy]

Dear sumairalam

Its a good surprise to see you here after few months. I don't mind to copy any of my posts, as my only objective on this forum is to share information with my other country fellows and students.

Best Wishes