ANDRE BELLEFEUILLE Anne-Marie Gammon, MBA, FCMA, CPA(NB), CMA Chief Executive Officer

Transcription

1 ANDRE BELLEFEUILLE Anne-Marie Gammon, MBA, FCMA, CPA(NB), CMA Chief Executive Officer Andre Bellefeuille, CMA Director, Marketing, Business Dev & Comm CPA Atlantic School of Business April 15, 2015

2 Agenda 1. Introducing CPA 2. Benefits of Being a CPA 2. Overview of CPA accreditation path Eligibility and prerequisites Professional Education Program (CPA PEP) Alternate accredited path: MBA CPA stream Practical experience 3. Next steps and additional resources

3 The Merger

4 Canada s Accounting History Provincial accounting associations have existed in Canada since shortly after confederation; at least 37 different types Mostly recently, largely represented by: Chartered Accountants (CA) Certified General Accountants (CGA) Certified Management Accountants (CMA) Since 1880, six waves of mergers including at least 18 specific proposals that have substantially taken off and failed

5 The Merger In 2011, all three main national bodies agreed to work toward a merger Eight guiding principals were used as a framework for the new designation and to help guide the provinciallevel mergers

6 CPA Canada Formed January 1, 2013 to unify the Canadian accounting profession (CA, CGA, CMA legacy bodies) Now represents Canada s 190,000 professional accountants Is one of the largest professional bodies in world; fourth largest association of professional accountants Comprises the CPA Canada office, 10 provincial bodies (plus CPA Bermuda), three territorial bodies, and two separate business schools

7 CPA Canada (cont.) Membership and standards are provincially legislated, except nationally in Bermuda Common competency map, accreditation path, standards, and harmonized policies for certification, membership, and professional development Vision to be the pre-eminent, internationally recognized accounting and business credential

8 CPA Merger Status in Atlantic Region Provincial bodies in Atlantic Region which have now completed the entire CPA merger process: New Brunswick Newfoundland Prince Edward Island Bermuda In Nova Scotia unification efforts continue

9 CPA Atlantic School of Business One of four schools in Canada which deliver the CPA certification program Created by the four Atlantic provinces and Bermuda to deliver the new CPA certification path Programs and services are delivered in both English and French, throughout the region Based in Halifax, Nova Scotia; with 13 staff positions, including inmarket program advisors in NS, NB, and NL as well as contracted instructors

10 Benefits of the CPA Designation

11 An Accounting Designation What will this do for you? The benefits A designation attests to your expertise - lessens burden to prove oneself at the door Enhances your reputation Eligible for higher level positions CHARTERED PROFESSIONAL ACCOUNTANT (CPA) Transportability - internationally recognized designation Positions you as a strategic decision maker

12 An Accounting Designation What will this do for you? The benefits (cont.) Opens doors for job prospects - Accountants are one of the most in-demand groups in the Canadian economy* Better choice of careers CHARTERED PROFESSIONAL ACCOUNTANT (CPA) Allows you to understand not only the numbers, but also how to work with the numbers Provides you with skills that are of value in any industry, any sector * Queen s Centre For Governance

13 Choosing an Accounting Designation Questions to consider Why invest in a designation? What s your end goal? CHARTERED PROFESSIONAL ACCOUNTANT (CPA)

14 Choosing an Accounting Designation What are your career aspirations? Virtually all mid- to senior-level finance and accounting jobs now require a designation (on top of a university degree) Required for: Strategic leaders (CEOs and CFOs) Vice-President Finance Treasurer Director of Finance Controller Senior Accountant Fund Accountant etc.. CHARTERED PROFESSIONAL ACCOUNTANT (CPA) ANDRE BELLEFEUILLE

15 Can You Envision Your Path?

16 Overview of the CPA Accreditation Path

17 CPA Path Features National program with same curriculum and delivery in Halifax as in Vancouver, for example Flexible, open access Ability to specialize your professional studies in two of four areas Every path covers the full CPA set of competencies, whether focused on public accounting, managing accounting, etc

18 CPA Path Competency Map At qualification, CPAs will demonstrate: Technical competencies Financial reporting Strategy and governance Management accounting Audit and assurance Finance Taxation Enabling competencies Professionalism Ethical behaviour Written and oral communication Leadership Problem solving and decision making

19 The CPA Path Overview

20 Eligibility

21 CPA Path Eligibility Requires completed university degree upon entry Coverage of 14 prerequisite topics (incl. GPA requirement); 10- year recency rule for core modules For exemptions based on professional accreditations (e.g. finance for a CFP), a letter of good standing is required Eligibility is determined through an official CPA Atlantic Transcript-Evaluation Request

22 CPA Path Prerequisite Topics Non-Core Modules Introductory Financial Reporting Introductory Management Accounting Core Modules M1 Intermediate Financial Reporting I M5.1 M2 Intermediate Financial Reporting II M5.2 Economics M3 Advanced Financial Reporting M5.3 Statistics M4 Corporate Finance M6 Business Law M11 Audit and Assurance M7 Information Technology M12 Tax M8 Intermediate Management Accounting Performance Management M9 M10

23 CPA Prerequisite Education Program (CPA PREP)

24 The CPA Prerequisite Education Program (CPA PREP) Overview: Designed by the CPA profession for university graduates without accounting degrees Provides all required prerequisite courses CHARTERED PROFESSIONAL ACCOUNTANT (CPA) Accelerated Modular, part-time Distance-learning modality Available in English (French equivalent is also available) High quality, cost effective

25 The CPA Prerequisite Education Program (CPA PREP) Overview: Core modules are six-weeks each Non-core modules are open access Six-year time frame to complete, if necessary Must have module 1-4 completed CHARTERED PROFESSIONAL before ACCOUNTANT taking any (CPA) of 5-10 Average business student will generally take less 12 to 16 months to complete (depending on exemptions) Each module is offered minimum of twice a year Each module has a exam All modules run in sequence (like a cohort)

26 CPA Professional Education Program (CPA PEP)

27 CPA Professional Education Program (CPA PEP) Two common core modules Two elective modules Capstone integrative module Capstone exam preparation module CHARTERED PROFESSIONAL ACCOUNTANT (CPA)

28 The CPA Professional Education Program (CPA PEP) Overview: Graduate-level program Meets the needs of industry, government, and public practice Provides strong skill set for all roles CPAs may take Meet or exceeds the requirements of the leading global accounting bodies such as IFAC Focused primarily on ability CHARTERED to apply PROFESSIONAL knowledge ACCOUNTANT and (CPA) skills in a professional context Series of modules typically taken over two years; part-time Accelerated 17 month path also available; part-time

29 The CPA Professional Education Program (CPA PEP) Overview (cont.): Take up to six years to complete, if necessary Does not have an entrance exam Offered in English and in French Culminates in a comprehensive three-day Common Final Examination Program can be taken in industry, CHARTERED non-public PROFESSIONAL ACCOUNTANT and the (CPA) public sector as well as in accounting firms Not necessary to be employed at the time of program entry

30 CPA Professional Education Program (CPA PEP) Format Primarily on-line (via facilitators) with one weekend in-person workshop per module including an orientation workshop; weekly assignments Two electives allow candidates to develop deeper skills in areas of career interest Although modular, should be viewed as a continuous build of knowledge/skills over two years Each module is eight weeks in length

31 CPA Professional Education Program (CPA PEP) Evaluation Evaluation at the end of each module; required to pass a module prior to moving on to next one (multiple offerings each year) Mix of objective-style questions (multiple choice, true/false, short answer, and cases up to 60 minutes); examples available on-line Capstone modules Evaluations marked in teams (reports and presentations) Evaluations marked individually as part of exam prep

32 Alternate Paths

33 MBA (CPA Stream) Features: Available through Saint Mary s University (Halifax, Nova Scotia) Designed for full-time working professionals and focuses on the Finance and Performance Management electives Lock-step program of 14 courses Provides advanced standing in CPA PEP, to Capstone 2 Takes 36 months, registration deadline of June 15, 2015 Eligibility: GPA 3.0 (with last two years 3.3 or higher) Two years business-related work All CPA prerequisite courses

34 CPA Advanced Certificate in Accounting and Finance (CPA ACAF) Features: Enhances a college diploma in accounting (but does not lead to the CPA designation, nor regulation by the profession) Certificate to be awarded by CPA Canada Series of 10 on-line courses, offered continuously through a foursemester schedule Scheduled to launch nationally in fall 2015 Eligibility: Completion of college accounting diploma with 10 specific prerequisite courses

35 CPA Practical Experience Requirements (PER)

36 CPA Practical Experience Requirements Principles: Candidates must have Opportunity to develop ethical behaviour and professionalism CHARTERED PROFESSIONAL ACCOUNTANT (CPA) Opportunities for development in accordance with the CPA competency map Appropriate supervision and mentoring Appropriate oversight by the profession

37 CPA Practical Experience Requirements Implementation Minimum of 30 months required to secure designation (in Quebec, it s 24 months) Up to 12 months can be claimed as prior experience; all experience must be gained in last seven years CHARTERED PROFESSIONAL ACCOUNTANT (CPA) Includes allowances for vacation, illness, study leave Flexibility Ability to select your workplace and areas of focus Can meet the education and experience requirements to practice public accounting after you certify as a CPA.

38 CPA Practical Experience Requirements Two models: Approved Path Experience Verification CHARTERED PROFESSIONAL ACCOUNTANT (CPA)

39 CPA Practical Experience Requirements Approved Path Training paths pre-approved by the CPA profession; and appropriately supervised and mentored Onus on employers to pre-approve path, identifying how CHARTERED PROFESSIONAL ACCOUNTANT (CPA) competencies will be developed More up-front work for employers, but much easier for assessments once in place Appropriate for employers that train on an ongoing basis (e.g. large/small CPA firms, gov t, large industry employers)

40 CPA Practical Experience Requirements Approved Training Offices (ATOs) in the Atlantic Region Roughly 200 in total For public sector, includes: Office of the Auditor General of Canada (Halifax office) CHARTERED PROFESSIONAL ACCOUNTANT (CPA) Auditor General offices for all Atlantic provinces Canada Revenue Agency (all local offices through an approved national program)

41 CPA Practical Experience Requirements Experience Verification Work environment that provides relevant and progressive training positions; appropriately supervised and mentored Candidates submit detailed experience reports with their CHARTERED PROFESSIONAL ACCOUNTANT (CPA) immediate supervisors verifying their experience, for approval by the CPA profession. Both paths are equally demanding and challenging

42 Next Steps

43 Have your eligibility reviewed for CPA PREP Why is this important? Identifies your next steps, as well as any exemptions Eligibility Review Process Submit copies of university and/or professional transcripts as well as eligibility assessment form (from our website)

44 CPA Program Advisors in the Atlantic Region Nova Scotia Shawn Smith, New Brunswick and PEI Rachelle Gauvin, Newfoundland and Labrador, and Bermuda Courtney Barnhill, CHARTERED PROFESSIONAL ACCOUNTANT (CPA)

45 ANDRE BELLEFEUILLE

46 Overview of the CPA PER

47 Overview of the CPA PER Five Common Requirements QUALIFYING EXPERIENCE APPROPRIATE SUPERVISION REPORTING & SELF ASSESSMENT CPA MENTORSHIP ASSESSMENT BY THE PROFESSION

48 CPA Practical Experience Competency Requirements TECHNICAL AND ENABLING COMPETENCIES

49 Technical Competency Requirements: Progression Evolution of responsibilities during work term: Early stage: Confined to retrieving and comprehending information Middle stage: Analysis of information Final stage: Effective decision and problem solving, plus increasingly complex and less routine work

50 Pre-Approved Program vs. Experience Verification

51 Pre-Approved Program TWO ROUTES. ONE STANDARD. Organizations obtain pre-approval for a defined position/program from the profession Minimum term of practical experience is 30 months Supervisors will assign work specified in the pre-approved program and provide feedback to CPA mentors Future CPAs complete streamlined experience reports CPA mentors are assigned to future CPAs by the organization and meet at least semi-annually Programs are monitored by the profession

52 Summary of Five Common CPA PER Five Common CPA PER Pre-Approved Program Experience Verification QUALIFYING EXPERIENCE Organizations obtain pre-approval for a defined position/program from the profession Any position that meets the entrance requirements is acceptable APPROPRIATE SUPERVISION Supervisors assign work specified in the pre-approved program Supervisors attest to accuracy of factual information REPORTING & SELF ASSESSMENT Future CPAs complete streamlined experience reports Future CPAs complete detailed experience reports CPA MENTORSHIP CPA mentors are assigned to future CPAs by the organization Future CPAs must find a CPA mentor ASSESSMENT BY THE PROFESSION Programs are monitored by the profession Experience is assessed by the profession as it is gained

53 What are my responsibilities under the pre-approved program? Culture Appoint pre-approved program leader(s) maintain senior-level ownership of program Provide appropriate working environment guidance and instruction on ethical issues Program Offer structured training position(s) All competencies should be achieved in 30 months Provide appropriate supervision and mentorship Ensure future CPAs document and self-assess in PERT Provide time off to write examinations Monitoring Certify completion of experience with final signoff Partner with the profession to monitor the program

54 Benefits of the Pre-Approved Program Efficiency Significantly less reporting requirements for future CPAs and employers that regularly hire future CPAs Certainty Practical experience will be completed within 30 months Oversight Organizations have control over who is in the program Recruitment Powerful recruitment tool for hiring future CPAs Cost No direct cost to obtain and maintain approval status

55 How to develop and seek approval for a Pre-Approved Program

56 What does the application look like? Application will consist of: Executive summary Excel competency mapping template

57 Introduction Culture Education and training support Experience Conclusion

58

59 Questions?