Are Chartered Accountants in demand in Canada?

Chartered accountants have ample opportunities of finding work almost anywhere in the world. To this end, the Institute of Chartered Accountants of India (ICAI) offers a series of instructional sessions on professional aspects to young accounting professionals. The Institute of Chartered Accountants of India (ICAI) CA qualification is considered equivalent to a postgraduate degree. Therefore, there are many opportunities for Indian Chartered Accountants in Canada.

A chartered accountant's average yearly salary in Canada is $62,500, or $32.05 per hour. Starting salaries for entry-level positions start at $57,000 per year, with the highest-paid employees earning up to $90,500 per year.

Canada are the three primary national accountancy bodies in Canada.

• The Canadian Institute of Chartered Accountants (CICA)
• The Certified General Accountant Association (CGA) - Canada
• The Certified Management Accountant (CMA)

Under the rules of the MoU, ICAI members in good standing with the required experience are excused from CPA Canada's practical training requirements, as well as from participating in the CPA Professional Education Program (CPA PEP), Capstone 1 and Capstone 2 modules, and from passing the final exam.

There are three main advantages for Indian CA to practise in Canada:

• To begin with, Canada's immigration process is rather simple and transparent when compared to those of other countries such as the United States, Australia, and New Zealand. There is express entry, as well as more than 80 different programmes to apply for a PR, such as the PNP and business visas.
• Second, the economy of Canada is relatively stable. Canada has the fastest expanding economy among the three countries: the United States, Australia, and Canada. There are lower chances of a recession or similar event given the current state of affairs.
• Finally, there is a significant presence of Indian CAs in Canada. CICA and ICAI had already signed a Memorandum of Understanding (Canadian Institute of Chartered Accountant). Following the merger, the ICAI is in discussions with CPA Canada regarding renewing the certification. As a result, Indian CAs will be able to receive CPA (Canada) registration, letting them to join Canada's formalised profession.

It's worth noting, that Indian chartered accountants who want to work in Canada under the "professional" category of the Immigration Act and Regulations will need a labour market opinion and a work visa. Also, Indian Chartered Accountants are only allowed to work in foreign departments with Indian operations; alternatively, you must enrol in a locally recognised college course, check what exemptions you are entitled to as a result of your Indian education, and complete that course in order to practise in both foreign and Indian operations.

New job vacancies for financial auditors and chartered accountants are predicted to reach 79,600 between 2019 and 2028, with 79,500 new job seekers (resulting from school leavers, immigration, and mobility) available to fill them. The equilibrium between labour supply and demand exhibited in recent years is predicted to remain over the projection period, as job vacancies and job searchers are expected to be at nearly comparable levels.

The code for anyone wishing to move to Canada as a Chartered Accountant is 1111 in the Financial Auditors and Accountants category on the Canadian NOC List. The NOC Code for Accountants Immigrating to Canada is also known as the NOC Code for Accountants. Accountants Canada's code contains the following Migration Groups and Sub Groups, according to the NOC Classification Schedule:

Accountant, analyst, audit unit head – taxation, auditor – finance, auditor-CA (chartered accountant), auditor-chartered accountant (CA), bank branch accountant, bankruptcy trustee, budget accountant, CA (chartered accountant), certified general accountant (CGA, certified, management accountant (CMA), CGA (certified general accountant), chartered accountant (CA), chartered accountant (CA) student, chief accountant, CMA (certified management accountant), cost accountant, cost accountant, financial accountant, general accountant, tax accountant, income tax specialist, project accountant amongst others.

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