Beginning to tread on the path to immigrate to Canada as an accountant is a strategic move laden with promise and opportunity. Let us understand the complete process of immigrating to Canada as an Accountant. In this comprehensive guide, we’ll navigate through the intricate steps of the immigration process, shedding light on the requirements, pathways, and benefits awaiting skilled professionals in the accounting field. Canada’s robust economy, renowned for its stability and resilience, beckons accountants with its thriving job market and attractive compensation packages.

The Significance of Accountants

Today’s day and age profoundly focuses on the business world, wherein Accountants play a vital role in assisting various industries and departments in making the right financial decisions through their expertise and knowledge. They must build trust among their clients as they protect and preserve significant economic data. Qualified accountants have a massive scope in Canada due to the ongoing demand. They can access a plethora of opportunities related to accounting, financial management, taxation, and auditing.

Salary Prospects for an Accountant in Canada

On average, an Accountant can earn up to $58,986 a year or $30.25 per hour. Reports by Talent.com state that seasoned employees can earn a maximum amount of $79,615 per year. In addition, entry-level jobs in this profession can make you earn up to $48,750. Accountants can never run short of job options with a strong setup in the financial and banking sectors. They have the chance to experience a diverse range of promising and challenging roles in private and multinational firms.

Responsibilities as an Accountant in Canada

An Accountant in Canada typically needs to perform the following tasks:

• Arrange and evaluate financial statements on a monthly or quarterly basis.
• Help formulate the budget and examine the areas for improvement. 
• Responsibly handle the payable and receivable accounts. 
• Rearrange the bank statements and ensure the accuracy of financial records. 
•  Evaluate the existing financial data and give recommendations for improvement.
• File taxes according to the provincial and federal regulations.
• Handle payroll and employee benefits.
• Formulate and maintain financial control systems.
• Comply with the essential laws and regulations.

The complete process of immigrating to Canada as an Accountant

Internationally-qualified Accountants can immigrate to Canada with in-demand skills and qualifications through a variety of PR programs. Here are the different PR programs that can set you on the path to applying for Canadian permanent residence as an Accountant:

Federal Skilled Worker Program

Skilled workers with international training and qualifications can immigrate to Canada as Permanent Residents via Express Entry’s Federal Skilled Worker Program. Under this system, applicants will acquire a ranking based on the Comprehensive Ranking System (CRS). This CRS score will depend on various factors like age, occupation, work experience, education, and language proficiency.

Candidates will receive additional points if they possess an employment offer, Canadian work experience, provincial nomination, or educational credentials.

Provincial Nominee Programs

Provincial Nominee Programs enable provinces and territories in Canada to select and nominate PR applicants with skills, experiences, and qualifications necessary to combat labor shortages. All provinces and territories (excluding Nunavut and Quebec) operate through their distinct PNPs.
Express Entry PNP streams’ selection primarily depends upon CRS scores, but different PNP streams enable provinces to send nominations to skilled workers in specific in-demand professions or NOC codes.

Quebec Regular Skilled Worker Program

Quebec welcomes applicants with certain skills, experience, training, and language proficiency to work and reside in the province through the Regular Skilled Worker Program. All professional applicants can express their interest through an EOI submission (Expression of Interest). This program’s selection process relies on various factors, including age, English or French language proficiency, considerable work experience, etc. Once an applicant gets selected, they will receive a Quebec Selection Certificate. In addition, they can proceed to apply for permanent residence through IRCC.

Atlantic Immigration Program

AIP is a federal program that enables foreign skilled workers, including international students in Canada, to permanently reside in any of the following Atlantic provinces:

• Nova Scotia
• New Brunswick
• Newfoundland and Labrador
• Prince Edward Island

The AIP selection process is not occupation-based. Furthermore, the program’s eligibility will depend upon meeting the following criteria:

• A minimum of one year of work experience on a full-time basis. This experience must be a paid one, and the experience must consist of 1,560 hours in the last five years. 
• Fulfill all language proficiency requirements. 
• Hold a full-time employment offer from an employer in Atlantic Canada. 

The complete process of acquiring CPA status as an Accountant in Canada – No international CPA or CA required

If you’ve earned a bachelor’s or master’s degree abroad, equivalent to a Canadian university degree, but aren’t affiliated with a professional accounting body or belong to one without an MOU with CPA Canada, your path to CPA certification in Canada starts anew.

• You’ll embark on the CPA Professional Education Program (CPA PEP);
• Conquer the Common Final Examination, and
• Accrue practical experience to secure your CPA credentials. This process ensures alignment with Canadian standards, equipping you with the necessary expertise for a successful career in accounting within the country.

Register with the provincial CPA body

As a student, you must register with a provincial CPA body and develop a profile. Your next step must be to make payments for a transcript assessment and submit your application under CPA PEP. There’s a lot of scope for you to get more details related to the CPA certification process and CPA provincial bodies’ list on the official website of CPA. Most Canadian provinces give you the chance to begin your transcript assessment and PEP enrollment process before coming to Canada.

Credential assessment

You must ensure that you submit your credentials, both provincial and academic, to the CPA in the province in which you desire to settle in the future. You must adhere to the specific conditions of each provincial CPA body when submitting documents.

Language proficiency

The CPA PEP program requires English language proficiency because it is in the same language. The specific requirements will differ from one another, but you must submit language test outcomes with a CLB level of 8 in all four skills, including reading, writing, listening, and speaking. You must submit proof of French language abilities for a CPA program in Quebec.

Take the CFE (Exam)

The CFE is a three-day exam, referred to as the Common Final Examination, for students as they need to solve business challenges and prove their expertise in technical areas under the CPA PEP program.

Attain relevant experience

A CPA designation will require you to showcase practical experience as a necessary qualification criterion. They must demonstrate 30 months of experience, and this must be relevant and paid. The accounting experience must be gained under professional supervision. The period must be 24 months in Quebec to be eligible for a CPA designation.

In closing, the journey of immigrating to Canada as an accountant is a testament to the country’s welcoming embrace of skilled professionals from around the globe. Through this exploration, we’ve uncovered the intricate process, highlighting the significance of aligning with Canadian standards and regulations. As you venture forward, remember that this endeavor is not merely about relocation but embracing a new chapter filled with growth, opportunity, and cultural enrichment. By embarking on this path with determination and resilience, you’re shaping your professional trajectory and contributing to the diverse Canadian workforce. Hope you have understood the complete process of immigrating to Canada as an Accountant.

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