OCAQ - The training period

The training period

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New practical experience requirements came into effect on September 1, 2009. These new requirements apply to all CA students beginning employment in audit and assurance on or after September 1, 2009 or registering with the Ordre as a Candidate for the Practice of the Profession (CPP) on or after that date. Only students hired before September 1, 2009 and registered as a CPP with the Ordre before that date may complete their practical experience under the former requirements. To help CA students and CA Training Offices understand the new requirements, the profession has prepared an information package, which is available on the www.CATOadvantage.ca website.

General information

The purpose of the training period is to provide candidates for the practice of the profession (CPP) with appropriate supervision in a professional practice context conducive to the attainment of the following objectives:

the application and enhancement of theoretical knowledge and technical expertise;
the exercise and development of judgment, initiative and administrative abilities;
the development of integrity and independence, and of responsiveness to client needs and the identification of critical issues;
the enhancement of interpersonal communication and professional skills.

Their many contacts with different clients and business leaders help CPPs to attain these objectives. The training period allows CPPs to improve their interpersonal and professional skills. It also enables them to develop an interest in one of the many fields of practice and to make an informed career choice.

What type of work do CPPs perform during their training period?

At the beginning of their training period in a CA firm, CPPs work mainly on assurance (auditing) and corporate taxation files. As they progress, candidates will be called upon to help clients and provide, as a member of a team, the following services for them:

preparation of financing and credit applications;
dispute settlements, investigative and forensic accounting;
tax and estate planning;
development of financial strategies;
business valuations, preparation of feasibility studies, strategic planning in view of the expansion, sale, purchase or merger of a business;
business start-ups;
business recoveries;
assessment and implementation of information and management systems.

CPPs are given the opportunity to mix with business leaders, and thus broaden their field of expertise. Mandates entrusted to candidates will vary depending on the clientele, size and geographic location of the firm.

Composition of the professional training period

The 24-month professional training period consists of not less than 2,500 hours of professional services rendered, of which not less than 1,250 hours are services rendered in public accounting and auditing and 100 hours in taxation. Of those 1,250 hours in public accounting and auditing, at least 625 hours will pertain to auditing. In short,

1,250 hours in assurance
… with a minimum of 625 hours in auditing.

1,250 hours in other competencies
… with a minimum of 100 hours in taxation.

What are the main advantages of training in a CA firm?

variety of engagements and clients promotes versatility and knowledge of several fields of activity;
opportunity to work with colleagues with very diversified experience;
supervision by specialists in such fields as auditing, information systems, taxation, management and finance;
opportunity to meet a number of business leaders who will discuss their projects and their management methods;
opportunity to become familiar with various information and management systems;
development of a broad network of contacts.

General information

24 months of professional services (minimum 2,500 hours)
6 months may be completed outside Canada under certain conditions
Part-time training period under certain conditions
The Ordre recognizes a maximum of 8 months of the training period during the undergraduate diploma (a minimum of 30 credits must have been obtained)

Specifications

Registration as a CPP required from the beginning of the training period (immediately after obtaining an undergraduate diploma) for full recognition

Requirements

Approved training employer

Fees payable to the Ordre

CPP registration fees (approximately $334)
Annual fees (approximately $259)

Advantages or services offered

CICA Handbook CD and its revisions
Inf@CA newsletter
CAmagazine