OCAQ - Changes to CA experience criteria - Frequently asked questions

The CA profession is expanding both what it recognizes as qualifying experience, and the kinds of organizations that can be recognized as CA Training Offices:

CA firms will be able to offer training positions in taxation, business advisory services and other areas, in addition to audit and assurance; and
Carefully selected corporations and government departments will be recognized as CA Training Offices under very strict criteria.

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2. Why is the profession making these changes?

The CA profession currently offers the best training in public practice; with expanded experience opportunities, we will be able to offer the best training in the corporate and public sectors. Currently, Canadian universities in most parts of the country produce more qualified students than the number of training positions CA firms can create under the current experience criteria. As a result, we are losing good students who want to be CAs. These changes will:

Make it possible for CA firms and for select corporate and public sector organizations to create more entry-level positions for CA students.
Create more opportunities for qualified university graduates to become CAs ? an important step in our strategic initiatives to secure the future supply of CAs.

The new criteria will position the profession favourably with our international counterparts since Canada is joining other leading CA accounting bodies around the world in offering these expanded training opportunities.

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3. When will these changes take effect?

In Quebec, the first CA students will be recruited into these “new” training periods after required regulatory changes are approved, possibly not before the fall of 2009. Implementation in Alberta is subject to member approval.

In most jurisdictions, the first CA students will be recruited into these new positions in the fall of 2007 for employment commencing in 2008. CA Training Offices currently approved to provide audit, assurance and taxation hours, as defined under current standards and regulations, will have to meet the additional criteria set out for hires into audit and assurance whose employment commences after Septembre 1^st, 2009. Students employed by CA Training Offices in these positions prior to this date will continue to qualify under the previously approved chargeable hours requirements.

In Quebec, the status quo will be maintained for employers and CA students until the required legislative changes are approved.

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4. Will CA students need audit and assurance experience to become CAs?

No. Under the new criteria, students are required to obtain depth in one of the two core competency areas of assurance or performance management. Therefore, a student could qualify by achieving depth in performance measurement. Students are also required to obtain breadth in any two of the remaining five competency areas (i.e. the areas other than the core areas in which depth was achieved).

However, if the student wants to become eligible to practise public accounting, audit, assurance and taxation experience will continue to be mandatory, as prescribed by the current chargeable-hour requirements.

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5. Can CA students acquire qualifying public accounting experience in corporations?

No. Only CA Training Offices that provide audit, assurance and taxation hours, as defined under current standards and regulations, will be able to offer qualifying public accounting experience. CA students who qualify without having acquired all of the experience required for public accounting can gain this experience in audit, assurance and taxation post-qualification.

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6. Will all CA students write the UFE?

Yes. All CA students must write the UFE. This ensures reciprocity both nationally and internationally.

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7. Will CA students with no audit and assurance experience be adequately prepared for the UFE?

Yes. CA students with no assurance experience will be required to gain extensive experience in performance measurement, which is built on the same foundational skills. Further, the concurrent professional education programs, which all students undertake during their period of experience, will ensure everyone has the required knowledge base in audit and assurance.

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8. Will CAs qualifying in areas other than public accounting be able to practice public accounting?

Yes, if they acquire the necessary experience at a CA Training Office at a later date.

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9. What will be the status of current Approved Training Offices?

When the new criteria become effective, all currently Approved Training Offices will be recognized as CA Training Offices for the purposes of training in public practice. However, they will be required to have any new positions created under the new standards (i.e. outside audit and assurance) approved by the Ordre. This status will then be subject to reassessment as part of our ongoing review process for CA Training Offices.

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10. Can current CA students or other current employees be transferred into these training positions?

No. For now, the status quo will be maintained for Quebec CA students. Elsewhere in Canada, current CA students and employees who meet the profession’s admission standards may be transferred into these positions.

CATO Liaison from your region is available to assist you throughout the process of becoming a CA Training Office.

Western Canada and the Territories

Lara Greguric, CA
Associate Director, CA Training Office Liaison

Harp Bagri, CA
Manager, CA Training Office Liaison
Ontario

Ryan Moynes, CA
Associate Director, CA Training Office Liaison

Tiffany Seccareccia, CA
Associate Director, CA Training Office Liaison
Quebec

Jasmine Marcoux, CA
Conseillère, Formation professionelle et relève
Atlantic Canada and Bermuda

J.D. Trainor, FCA
Executive Director, Atlantic School of Chartered Accountancy

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11. Why are we allowing corporations to train CAs?

In Canada, 70% of CAs work outside public practice; some of the organizations in which they work have both the capacity and the interest to train CAs in accordance with the profession’s rigorous standards. In most provinces, many eligible students seeking CA careers are unable to find training positions in CA firms. Other high-calibre students who may be interested in the CA profession choose instead to pursue corporate or government careers immediately upon graduating. By accommodating these exceptional employers and promising students, the CA profession will benefit from their talents and abilities. Furthermore, by not accommodating them, we miss a great opportunity to support our members in industry, and leave qualified and interested students to seek professional designations elsewhere, thereby strengthening our competition.

In addition, the new criteria will position the profession favourably with our international counterparts since Canada is joining other leading CA accounting bodies around the world in offering these expanded training opportunities.

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12. Will a CA without public accounting experience be recognized across Canada? Around the world?

Yes. The new CA qualification process will ensure that the CA designation continues to be fully portable across Canada and meets the requirements of all our international recognition agreements.

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13. How much growth in membership do you anticipate from this initiative?

We believe it is reasonable to expect a 10% growth in student intake from this initiative in the first five years of its implementation. It must be clear, however, that membership growth is not our primary reason for making these changes. The CA profession is deeply committed to providing the best possible training for qualified students. We are expanding that training from the best public accounting training to include the best training in other areas that are core to CA practice.

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14. Will enough corporate and public sector organizations qualify as CA Training Offices and create enough new CA training positions to make the effort worthwhile?

International experience has shown that, while it takes time to build the necessary relationships with employers, significant uptake from leading organizations is a reasonable goal. Further, we believe it is important for us to begin this initiative even if initial numbers are small. International experience shows it takes time to build numbers from this initiative.

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15. When will newly approved CA Training Offices in carefully selected corporations and government departments with approved CA Training Programs be announced?

A number of these organizations are currently going through the approval process.

The organizations below have already partnered with their Provincial CA Institutes/Ordre to develop a structured, high-quality training program for the best and brightest CA students.

Organization:	Approval to train in:
Great West Life	Manitoba
J.D. Irving	New Brunswick
Manulife	Ontario
Matson, Driscoll & Damico	Ontario
Nexen	Alberta
Royal Bank of Canada	Ontario
Sobeys	Nova Scotia
Telus	British Columbia Alberta Ontario
The Office of the Comptroller General of Canada	Ontario
The Office of the Comptroller General of Newfoundland and Labrador	Newfoundland and Labrador

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16. How can I get more information?

To review the new CA Practical Experience Requirements, click the following links.

Practical Experience Requirements 2007 (PDF)
Guidelines for CA Training Offices (PDF)
The UFE Candidates’ Competency Map (PDF)