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July 5, 2006
ICAM approves expansion of qualifying experience criteria
The Council of the Institute of Chartered Accountants of Manitoba, along with all Canada's provincial institutes and the Ordre des comptables agréés du Québec, has approved in principle changes to the experience requirements for qualifying CAs. The changes will allow CA firms to create training positions in taxation, business advisory services, and other areas in addition to audit and assurance. They will also allow carefully selected corporations and government departments meeting the CA profession's high standards to be recognized as Approved Training Offices. Canada and Bermuda are the only countries that do not currently recognize such training positions; these changes will position the profession favourably with our international counterparts.
Following a consultation period through the fall, we will reflect these changes through appropriate bylaw changes.
The CA profession now offers the best training in public practice; expanded experience opportunities will offer the best training in the corporate and public sectors. The changes make it possible for CA firms and for select corporate and public sector organizations to create more entry level positions for CA candidates. In most parts of the country, Canadian universities produce more qualified students than CA firms can produce training positions under the current experience criteria. These changes will help create more opportunities for qualified university graduates to become CAs. They will maintain the excellence of all our admission and qualification standards, and will be implemented across Canada and Bermuda to ensure 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.
The changes are expected to take place in Manitoba and most jurisdictions across Canada and Bermuda for candidates recruited after September 2007 for employment beginning after May 1, 2008, and in Quebec after required regulatory changes are approved.
Detailed information on the new standards and criteria will be available in September 2006.
Click here for more details and answers to frequently asked questions.
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