Nigerian accountants seeking to practice in Canada now have a more direct route to certification, thanks to a new agreement between Chartered Professional Accountants Canada (CPA Canada) and the Institute of Chartered Accountants of Nigeria (ICAN).
The two organisations have signed a Memorandum of Understanding (MOU) that simplifies the certification process for ICAN members who wish to obtain the CPA designation in Canada. This development was confirmed by ICAN through a post on its X account, highlighting the enhanced mobility this agreement offers to its members. The MOU applies to CPA bodies across Canadian provinces, territories, and Bermuda.
Before this MOU, ICAN members looking to become CPAs in Canada had to navigate a lengthy certification process, which involved additional coursework and examinations. However, the new agreement provides a more straightforward path, offering ICAN members advanced standing in the Canadian CPA certification process.
While the MOU simplifies the certification process, it does not automatically grant the right to practice public accounting in Canada. Those wishing to offer audit or public accounting services may still need to take additional exams or gain experience to meet local requirements.
For Nigerians living in Canada who hold ICAN certification, the MOU offers a significant career boost. Many skilled Nigerian professionals face challenges in getting their qualifications recognized in Canada, often resulting in lower-paying jobs or the need to restart their careers.
The new agreement makes it easier for ICAN members in Canada to transition into high-paying accounting roles without needing to retrain entirely. The faster route to CPA certification will also reduce the time and cost involved in obtaining Canadian professional recognition.
This will open up more career opportunities in fields such as financial management, taxation, and consulting. It also enhances the global value of ICAN certification, making it a more attractive option for Nigerians considering international job prospects.
To take advantage of this new pathway, ICAN members must meet the following conditions: Be in good standing with ICAN and have fully completed the ICAN qualification process; pay applicable fees and meet the good character requirements for CPA membership; hold a recognised university degree along with their ICAN certification, or have at least eight years of relevant work experience in core CPA technical areas such as financial reporting, management accounting, strategy, and taxation.
They must also pass the Common Final Examination (CFE), a key requirement for CPA certification in Canada.
ICAN members with more than two years of post-designation work experience will not need to have their practical experience reviewed. However, those with less than two years of post-designation experience may be required to submit both pre- and post-qualification experience for assessment.
Nigerian accountants interested in obtaining CPA certification in Canada should contact the CPA provincial or regional body in their current location or the area where they plan to move.
