New CA Training Program
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Expanded Experience Opportunities
Chartered Accountants of Saskatchewan approves expansion of qualifying experience criteria.
In June 2007, the Institute of Chartered Accountants of Saskatchewan approved the expansion of qualifying experience criteria. We expect all provinces to complete the approval process by fall 2008.
The new Practical Experience Requirements (PER) 2007 came into effect for students who are hired into these new expanded experience paths and register with the CASB after September 1, 2007. The new requirements affect both what is recognized as qualifying experience and the kinds of organizations that can be recognized as CA Training Offices, specifically:
- Approved corporations and government departments can now be recognized as CA Training Offices under strict criteria;
- CA firms will be able to seek approval to create training positions in taxation, business advisory services, and other areas, in addition to CA positions in audit and assurance; and
- Audit, assurance and tax experience will no longer be mandatory for those who wish to pursue CA careers outside public accounting. CA students who qualify in these positions who later wish to practise public accounting can do so by gaining the necessarily experience at a CA firm recognized for that purpose; they will not have to rewrite the UFE.
More Information
Some more information on the new Practical Experience Requirements:
For more information on Expanded Experience Opportunities please contact the CATO Liaison Team:
Lara Greguric, CA
Associate Director, CA Training Office Liaison
604-488-2645
Toll free – 1-866-420-2350
greguric@casb.com
Harp Bagri, CA
Manager, CA Training Office Liaison
604-488-2648
Toll free – 1-866-420-2350
bagri@casb.com
Members approve expansion of CA qualifying experience criteria
JUNE 1, 2007
On June 1, 2007, the members of the Institute of Chartered Accountants of Saskatchewan approved the expansion of CA experience criteria. Effective September 1, 2007, we will recognize qualifying experience in approved CA firm training offices in areas in addition to audit and assurance, and in carefully selected corporations and government departments with approved CA Training Programs.
The Institute of Chartered Accountants of Saskatchewan joins all other Provincial Institutes of Chartered Accountants across Canada (except for Alberta), the Ordre des comptables agréés du Québec, and the Institute of Chartered Accountants of Bermuda in approving these changes. Legislative changes are required in Quebec and Bermuda, where the process for making such changes is now underway. The members of the Institute of Chartered Accountants of Alberta are expected to vote on the changes in late 2007 or in 2008. This may delay the approval of new CA Training Offices and qualifying positions in these jurisdictions. Full implementation across Canada and in Bermuda is expected by the fall of 2008, ensuring that the CA continues to be fully portable within Canada and Bermuda, and that all international criteria for mutual recognition agreements continue to be met.
These changes will maintain the excellence of all our admission and qualification standards. They are expected to be particularly attractive to small- and medium-sized CA practices, and to a select group of leading corporations and public sector organizations, which employ large numbers of CAs and have established training infrastructures.
What changes
The profession is creating more opportunities for qualified university graduates to become CAs by expanding both what it recognizes as qualifying experience, and the kinds of organizations that can be recognized as CA Training Offices.
Specifically, effective September 1, 2007:
- CA firms will be able to create 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.
These changes 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.
Maintaining the excellence of CA qualification standards
All standards, including those for recognizing CA Training Offices, will be as rigorous as current standards.
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Admission criteria to professional education programs will remain unchanged; expanded experience opportunities maintain all current academic standards and prerequisites for admission to the profession, as well as the breadth and depth of core competence and knowledge consistent with the public trust and the CA brand.
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Evaluation: All current evaluation processes will remain in place. All CA students must pass the UFE.
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Currently Approved Training Offices: Effective September 1, 2007, all currently Approved Training Offices will continue to be recognized as CA Training Offices for the purposes of training in audit & assurance. However, they will be required to have any new positions created under the new standards (i.e. outside audit and assurance) approved by their Provincial Institute(s)/Ordre. New hires and/or current employees may be transferred into these newly approved positions. The ongoing status of all CA Training Offices will be subject to reassessment as part of our ongoing review process.
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Audit and assurance experience will continue to be mandatory and unchanged for CA students pursuing public accounting. Only CA Training Offices providing audit, assurance and taxation hours, as defined under current standards and regulations, will be able to offer qualifying public accounting experience (i.e. CA firms and federal and provincial Offices of Auditors General). CA students who qualify without having acquired all of the audit, assurance and taxation experience required for public accounting can achieve the required experience in these areas post qualification.
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Corporate and public sector CA Training Offices will be carefully selected to ensure the profession will recognize only leading organizations that provide experience that meets our high standards. Standards for these organizations will be consistent with those of public practice firms to ensure CA students develop a true CA perspective (including the essential CA pervasive qualities and skills such as ethical behaviour and professionalism) and are exposed to a sufficiently broad range of experience. Training outside CA firms will be as rigorous as training within CA firms.
When the changes take effect
In most jurisdictions, the first CA students will be recruited into these new positions in the fall of 2007 for employment commencing in 2008. In Quebec and Bermuda, implementation will begin after required regulatory changes are approved. Alberta implementation is subject to member approval. While only a few such training positions will be approved for the fall of 2007, we expect to approve a significant number of employers and positions by the fall of 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 in Practical Experience Requirements 2007 for hires into audit and assurance whose employment commences after August 31, 2009.
For more information on Expanded Experience Opportunities please contact the CATO Liaison Team:
Lara Greguric, CA
Associate Director, CA Training Office Liaison
604-488-2645
Toll free – 1-866-420-2350
greguric@casb.com
Harp Bagri, CA
Manager, CA Training Office Liaison
604-488-2648
Toll free – 1-866-420-2350
bagri@casb.com
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