Steps to Becoming a Chartered Accountant in Canada:
The process by which one becomes a chartered accountant in Canada consists of four major components:
- Prerequisite undergraduate education consists of earning a bachelor’s degree through an approved program that provides specific courses at specified levels as determined by each educational region.
- Competency based practical experience consisting of three years (30 months) of active full time employment, during which time competencies are mastered through supervised work experience. Candidates will dedicate much of their time to developing the specific competencies they choose to focus their careers on.
Candidates choose two competency areas, which become the focus for their careers, from these six areas: performance measurement and reporting, assurance, taxation, risk management, management decision-making and finance.
Experience is gained through approved CA training offices, referred to as CATOs. CATOs are fully operational accounting and professional services firms that have agreed to provide the paid supervised experience aspiring CAs need to achieve the designation.
- Educational modules are participated in during the three-year work experience component of the CA program. There are a total of four educational modules that combine in-person and online classes, workshops and seminars to augment and enhance the work experience.
The education is integrated into the experience component in such a way that candidates can apply new information to their practical experience. These modules generally conclude with a finalist preparation program (FPP) designed specifically to help students prepare for the Uniform Evaluation.
- The Uniform Evaluation (UFE) is the final step to becoming a chartered accountant in Canada. It is a three-day long exam where candidates demonstrate their knowledge of accountancy and mastery of competencies developed during their work experience.
Jyotsna Singh Arora
Finance Intern in CA Learning