Institute Of Chartered Accountants Of Ontario

Institute Of Chartered Accountants Of Ontario

August 25, 2009 15:24 ET

The Institute of Chartered Accountants of Ontario: CA Institute Welcomes Fairness Commission's Second Annual Report

Report shows progress on access by international professionals

TORONTO, ONTARIO--(Marketwire - Aug. 25, 2009) - The Office of the Fairness Commissioner's second Annual Report shows welcome progress in opening doors for internationally trained professionals to Ontario's 36 regulated professions, according to the Institute of Chartered Accountants of Ontario.

"Our province requires a skilled workforce that reflects the world in which we do business," said Institute Co-Acting President and CEO Nora Murrant, FCA. "That's why our profession today is an acknowledged leader in creating pathways for internationally trained professionals to join our ranks."

Murrant noted that, in the case of the CA profession, the access process for internationally trained professionals is already at best practice levels - as recognized in 2008 by Attorney General Chris Bentley:

"The Institute of Chartered Accountants of Ontario has helped set the benchmark for best practices in the regulated professions, and that speaks volumes about the accounting profession's commitment to investing in skilled international graduates."

The Institute provides a fair and transparent career path to the CA designation for internationally trained candidates as detailed in step-by-step information on the assessment process, the experience and examination requirements, the costs involved, and a summary of labour market conditions for Chartered Accountants.

Other highlights of the CA profession's access program include:

- Participation in the International Qualifications Appraisal Board, which assesses the qualification standards of accounting bodies in other countries against Canadian CA standards to provide access to qualified applicants

- Transparent application and appeals processes that includes full participation by public representatives (persons who are not accountants) as voting members

- Ensuring that all relevant information is available online to prospective professional immigrants to Ontario before they leave their country of origin

Additional detail on the CA profession's approach to welcoming internationally trained accountants can be found at www.casforchange.ca under "Internationally Trained".

In particular, Murrant pointed to a section of the report on the revised Agreement on Internal Trade between provinces to enhance labour mobility: "The Commission calls for nationally consistent qualification standards for professionals," Murrant noted. "We have been making this case for a long time when it comes to public accounting. We hope other provinces join Ontario in legislating rigorous, internationally recognized qualification requirements for all who would provide this critical financial service.

"We all want new Canadians to succeed and we can't afford to waste talent," Murrant concluded. "Let's build on our progress with a system of best practices that identifies achievable goals, while maintaining the level of stringent, internationally recognized professional standards that have traditionally served Ontario so well."

About the Institute of Chartered Accountants of Ontario:

The Institute of Chartered Accountants of Ontario is the qualifying and regulatory body of Ontario's more than 33,000 CAs and 5,000 CA students. Since 1879, the Institute has protected the public interest through the CA profession's internationally recognized standards of qualification and conduct. A wide range of organizations and individuals count on Ontario CAs to provide trustworthy and strategic insight, business leadership and financial guidance. The Institute's website is: www.icao.on.ca and the student website is www.guidetorulingtheworld.ca.

Contact Information

  • The Institute of Chartered Accountants of Ontario
    Perry Jensen
    416-969-4271 or 1-800-387-0735 ext. 271
    pjensen@icao.on.ca