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ANDRE BELLEFEUILLE
Anne-Marie Gammon, MBA, FCMA, CPA(NB), CMAChief Executive Officer
Andre Bellefeuille, CMADirector, Marketing, Business Dev & CommCPA Atlantic School of Business
April 15, 2015
Agenda1. Introducing CPA
2. Benefits of Being a CPA
2. Overview of CPA accreditation path• Eligibility and prerequisites• Professional Education Program (CPA PEP)• Alternate accredited path: MBA CPA stream• Practical experience
3. Next steps and additional resources
Canada’s “Accounting History”• Provincial accounting associations have existed in Canada since
shortly after confederation; at least 37 different types
• Mostly recently, largely represented by:
• Chartered Accountants (CA)
• Certified General Accountants (CGA)
• Certified Management Accountants (CMA)
• Since 1880, six waves of mergers including at least 18 specific proposals that have substantially taken off and failed
The Merger• In 2011, all three main national bodies agreed to work
toward a merger
• Eight guiding principals were used as a framework for the new designation and to help guide the provincial-level mergers
CPA Canada• Formed January 1, 2013 to unify the Canadian accounting
profession (CA, CGA, CMA legacy bodies)
• Now represents Canada’s 190,000 professional accountants
• Is one of the largest professional bodies in world; fourth largest association of professional accountants
• Comprises the CPA Canada office, 10 provincial bodies (plus CPA Bermuda), three territorial bodies, and two separate business schools
CPA Canada (cont.)
• Membership and standards are provincially legislated, except nationally in Bermuda
• Common competency map, accreditation path, standards, and harmonized policies for certification, membership, and professional development
• Vision to be the pre-eminent, internationally recognized accounting and business credential
CPA Merger Status in Atlantic Region• Provincial bodies in Atlantic Region which have now completed
the entire CPA merger process:• New Brunswick• Newfoundland• Prince Edward Island• Bermuda
• In Nova Scotia unification efforts continue
CPA Atlantic School of Business• One of four schools in Canada which deliver the CPA certification
program• Created by the four Atlantic provinces and Bermuda to deliver the
new CPA certification path• Programs and services are delivered in both English and French,
throughout the region• Based in Halifax, Nova Scotia; with 13 staff positions, including in-
market program advisors in NS, NB, and NL as well as contracted instructors
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
An Accounting Designation … What will this do for you?
The benefits
• A designation attests to your expertise - lessens burden to “prove” oneself at the door
• Enhances your reputation
• Eligible for higher level positions
• Transportability - internationally recognized
designation
• Positions you as a strategic decision maker
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
An Accounting Designation … What will this do for you?
The benefits (cont.)
• Opens doors for job prospects - Accountants are one of the most in-demand groups in the Canadian economy*
• Better choice of careers
• Allows you to understand not only the “numbers”, but also how to work with the numbers
• Provides you with skills that are of value in any industry, any sector
* Queen’s Centre For Governance
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
Choosing an Accounting DesignationQuestions to consider• Why invest in a designation?• What’s your end goal?
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
ANDRE BELLEFEUILLE
Choosing an Accounting DesignationWhat are your career aspirations?
Virtually all mid- to senior-level finance and accounting jobs now require a designation (on top of a university degree)Required for:
• Strategic leaders (CEOs and CFOs)• Vice-President Finance• Treasurer• Director of Finance• Controller• Senior Accountant• Fund Accountant• etc ..
CPA Path Features• National program with same curriculum and delivery in Halifax as
in Vancouver, for example• Flexible, open access• Ability to specialize your professional studies in two of four areas• Every path covers the full CPA set of competencies, whether
focused on public accounting, managing accounting, etc …
CPA Path – Competency MapAt qualification, CPAs will demonstrate:
Technical competencies Enabling competencies
Financial reporting Professionalism
Strategy and governance Ethical behaviour
Management accounting Written and oral communication
Audit and assurance Leadership
Finance Problem solving and decision making
Taxation
CPA Path – Eligibility• Requires completed university degree upon entry• Coverage of 14 prerequisite topics (incl. GPA requirement); 10-
year recency rule for core modules• For exemptions based on professional accreditations (e.g. finance
for a CFP), a letter of good standing is required• Eligibility is determined through an official “CPA Atlantic
Transcript-Evaluation Request”
CPA Path – Prerequisite TopicsNon-Core Modules Core ModulesIntroductory Financial Reporting
M1 Intermediate Financial Reporting I M5.1
Introductory Management Accounting
M2 Intermediate Financial Reporting II M5.2
Economics M3 Advanced Financial Reporting M5.3
Statistics M4 Corporate Finance M6
Business Law M11 Audit and Assurance M7
Information Technology M12 Tax M8
Intermediate Management Accounting
M9
Performance Management M10
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
The CPA Prerequisite Education Program (CPA PREP)Overview:• Designed by the CPA profession for university graduates without
accounting degrees• Provides all required prerequisite courses• Accelerated • Modular, part-time• Distance-learning modality• Available in English (French equivalent is also available)
• High quality, cost effective
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
The CPA Prerequisite Education Program (CPA PREP)Overview:• Core modules are six-weeks each• Non-core modules are ‘open access’• Six-year time frame to complete, if necessary• Must have module 1-4 completed before taking any of 5-10• Average business student will generally take less 12 to 16
months to complete (depending on exemptions)• Each module is offered minimum of twice a year• Each module has a exam• All modules run in sequence (like a cohort)
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
CPA Professional Education Program (CPA PEP)
• Two common core modules• Two elective modules• Capstone integrative module• Capstone exam preparation module
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
The CPA Professional Education Program (CPA PEP)Overview:• Graduate-level program• Meets the needs of industry, government, and public practice• Provides strong skill set for all roles CPAs may take• Meet or exceeds the requirements of the leading global
accounting bodies such as IFAC• Focused primarily on ability to apply knowledge and skills in a
professional context• Series of modules typically taken over two years; part-time• Accelerated 17 month path also available; part-time
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
The CPA Professional Education Program (CPA PEP)Overview (cont.):• Take up to six years to complete, if necessary• Does not have an entrance exam• Offered in English and in French• Culminates in a comprehensive three-day
Common Final Examination• Program can be taken in industry, non-public and the public
sector as well as in accounting firms• Not necessary to be employed at the time of program entry
CPA Professional Education Program (CPA PEP)Format
• Primarily on-line (via facilitators) with one weekend in-person workshop per module including an orientation workshop; weekly assignments
• Two electives allow candidates to develop deeper skills in areas of career interest
• Although modular, should be viewed as a continuous build of knowledge/skills over two years
• Each module is eight weeks in length
CPA Professional Education Program (CPA PEP)Evaluation
• Evaluation at the end of each module; required to pass a module prior to moving on to next one (multiple offerings each year)
• Mix of objective-style questions (multiple choice, true/false, short answer, and cases up to 60 minutes); examples available on-line
• Capstone modules• Evaluations marked in teams (reports and
presentations)• Evaluations marked individually as part
of exam prep
MBA (CPA Stream)Features:• Available through Saint Mary’s University (Halifax, Nova Scotia)• Designed for full-time working professionals and focuses on the
Finance and Performance Management electives• Lock-step program of 14 courses• Provides advanced standing in CPA PEP, to Capstone 2• Takes 36 months, registration deadline of June 15, 2015
Eligibility:• GPA 3.0 (with last two years 3.3 or higher)• Two years’ business-related work• All CPA prerequisite courses
CPA Advanced Certificate in Accounting and Finance (CPA ACAF)Features:• Enhances a college diploma in accounting (but does not lead to
the CPA designation, nor regulation by the profession)• Certificate to be awarded by CPA Canada• Series of 10 on-line courses, offered continuously through a four-
semester schedule• Scheduled to launch nationally in fall 2015
Eligibility:• Completion of college accounting diploma with
10 specific prerequisite courses
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
CPA Practical Experience RequirementsPrinciples:
• Candidates must have …• Opportunity to develop ethical behaviour and
professionalism• Opportunities for development in accordance with the
CPA competency map• Appropriate supervision and mentoring• Appropriate oversight by the profession
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
CPA Practical Experience RequirementsImplementation
• Minimum of 30 months required to secure designation (in Quebec, it’s 24 months)
• Up to 12 months can be claimed as prior experience; all experience must be gained in last seven years
• Includes allowances for vacation, illness, study leave
Flexibility• Ability to select your workplace and areas of focus• Can meet the education and experience
requirements to practice public accounting after you certify as a CPA.
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
CPA Practical Experience RequirementsTwo models:• Approved Path• Experience Verification
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
CPA Practical Experience RequirementsApproved Path
• Training paths pre-approved by the CPA profession; and appropriately supervised and mentored
• Onus on employers to pre-approve path, identifying how competencies will be developed
• More up-front work for employers, but much easier for assessments once in place
• Appropriate for employers that train on an ongoing basis (e.g. large/small CPA firms, gov’t, large industry employers)
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
CPA Practical Experience RequirementsApproved Training Offices (ATOs) in the Atlantic Region
• Roughly 200 in total• For public sector, includes: Office of the Auditor General of Canada (Halifax office) Auditor General offices for all Atlantic provinces Canada Revenue Agency (all local offices through an
approved national program)
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
CPA Practical Experience RequirementsExperience Verification
• Work environment that provides relevant and progressive training positions; appropriately supervised and mentored
• Candidates submit detailed experience reports with their immediate supervisors verifying their experience, for approval by the CPA profession.
Both paths are equally demandingand challenging
Have your eligibility reviewed for CPA PREPWhy is this important?• Identifies your next steps, as well as any exemptions
Eligibility Review Process
• Submit copies of university and/or professional transcripts as well as eligibility assessment form (from our website)
CHARTERED PROFESSIONAL ACCOUNTANT (CPA)
CPA Program Advisors in theAtlantic Region
Nova ScotiaShawn Smith, [email protected]
New Brunswick and PEIRachelle Gauvin, [email protected]
Newfoundland and Labrador, and Bermuda
Courtney Barnhill, [email protected]
www.cpaatlantic.ca
Overview of the CPA PERFive Common Requirements
QUALIFYING EXPERIENCE
APPROPRIATE SUPERVISION
REPORTING &SELF ASSESSMENT
CPA MENTORSHIP
ASSESSMENT BY THE PROFESSION
Technical Competency Requirements: ProgressionEvolution of responsibilities during work term:
• Early stage: Confined to retrieving and comprehending information• Middle stage: Analysis of information• Final stage: Effective decision and problem solving, plus increasingly
complex and less routine work
• Organizations obtain pre-approval for a defined position/program from the profession
• Minimum term of practical experience is 30 months
• Supervisors will assign work specified in the pre-approved program and provide feedback to CPA mentors
• Future CPAs complete streamlined experience reports
• CPA mentors are assigned to future CPAs by the organization and meet at least semi-annually
• Programs are monitored by the profession
Pre-Approved ProgramTWO ROUTES. ONE STANDARD.
Five Common CPA PER Pre-Approved Program Experience Verification
Organizations obtain pre-approval for a defined position/program from the profession
Any position that meets the entrance requirements is acceptable
Supervisors assign work specified in the pre-approved program
Supervisors attest to accuracy of factual information
Future CPAs complete streamlined experience reports
Future CPAs complete detailed experience reports
CPA mentors are assigned to future CPAs by the organization
Future CPAs must find a CPA mentor
Programs are monitored by the profession
Experience is assessed by the profession as it is gained
Summary of Five Common CPA PER
QUALIFYING EXPERIENCE
APPROPRIATE SUPERVISION
REPORTING &SELF ASSESSMENT
CPA MENTORSHIP
ASSESSMENT BY THE PROFESSION
What are my responsibilities under the pre-approved program?
• Appoint pre-approved program leader(s) – maintain senior-level ownership of program
• Provide appropriate working environment – guidance and instruction on ethical issues
Culture
• Offer structured training position(s) – All competencies should be achieved in 30 months
• Provide appropriate supervision and mentorship• Ensure future CPAs document and self-assess in PERT• Provide time off to write examinations
Program
• Certify completion of experience with final signoff • Partner with the profession to monitor the program
Monitoring
Benefits of the Pre-Approved Program
• Significantly less reporting requirements for future CPAs and employers that regularly hire future CPAsEfficiency
• Practical experience will be completed within 30 monthsCertainty
• Organizations have control over who is in the programOversight
• Powerful recruitment tool for hiring future CPAsRecruitment
• No direct cost to obtain and maintain approval statusCost
What does the application look like?
Application will consist of:• Executive summary• Excel competency mapping template