TORONTO, Nov. 27, 2018 /CNW/ - The signing of the first memorandum of understanding (MOU) between Canada's Chartered Professional Accountant (CPA) bodies and the Institute of Chartered Accountants of India (ICAI) demonstrates once again the accounting profession's commitment to international mobility.
The agreement was signed at the Toronto office of the Chartered Professional Accountants of Canada (CPA Canada) on November 17. In attendance were representatives of the Canadian profession and representatives from the ICAI and its Toronto chapter.
"The global economy requires mobility for its finance and accounting professionals," says Joy Thomas, president and CEO, CPA Canada. "Providing a clear path to achieving credential recognition benefits members of both the Indian and Canadian accounting professions while giving both countries access to top talent."
The Memorandum of Understanding on Reciprocal Membership Arrangements specifies the criteria by which members of one body are eligible for membership in the other. It was signed by the Canadian profession's national body, CPA Canada, on behalf of the CPA provincial and territorial bodies and the Chartered Professional Accountants of Bermuda, which has a long affiliation with the Canadian CPA profession.
The MOU ensures that Canadian qualification standards are maintained while recognizing substantial equivalency in the core knowledge requirements of both countries. ICAI members looking to become Canadian CPAs are required to pass CPA Canada's Common Final Examination (CFE).
The MOU also provides access to the growing Indian economy for Canadian CPAs seeking career opportunities in that country.
ABOUT CPA CANADA
Chartered Professional Accountants of Canada (CPA Canada) is one of the largest national accounting organizations in the world, representing more than 210,000 members. Domestically, CPA Canada works cooperatively with the provincial and territorial CPA bodies who are charged with regulating the profession. Globally, it works together with the International Federation of Accountants and the Global Accounting Alliance to build a stronger accounting profession worldwide. CPA Canada, created through the unification of three legacy accounting designations, is a respected voice in the business, government, education and non-profit sectors and champions sustainable economic growth and social development. The unified organization is celebrating five years of serving the profession, advocating for the public interest and supporting the setting of accounting, auditing and assurance standards. CPA Canada develops leading edge thought-leadership, research, guidance and educational programs to ensure its members are equipped to drive success and shape the future. cpacanada.ca
SOURCE CPA Canada
For further information: Perry Jensen, Media Relations Manager, Chartered Professional Accountants of Canada, Telephone: 416-204-3941, Cell: 647-807-4798, Email: [email protected]