CA Salary in Canada- How To Apply, Average Base Salary and more!

This article discusses CA Salary in Canada- How to apply, Average Base Salary and More!

Just like there are CAs in India, there are Chartered Professional Accountants in Canada. So, if you searched for “CA in Canada” but actually got “CPA in Canada”, no need to fret as both job positions are the exact same. The job of a chartered professional accountant in Canada is one of the good paying jobs. Individuals can earn up to $76,100 (50-60lakhs) a year. CAs working in Canada can earn a good salary if they have enough work experience and have required skills. The places that offer the highest salary to their Chartered Professional Accountants are Montreal, Edmonton, Mississauga, Toronto, and Ottawa. The work of a CPA is spread in a wide range of fields such as government, public accounting industry, educational industry, etc.

Keep on reading this article to know more about CA Salary in Canada- How to apply, Average Base Salary and more!

Perks of Becoming CA in Canada

I)High Job Security

II)High Earnings

III)Flexible Career

IV)PR in Canada

CA in Canada - Eligibility Criteria

Canada requires the best of the best. And, so, if you want to become a Chartered Accountant in Canada, there will be eligibility criteria.

Listed below are the Eligibility Criteria for CA in Canada-

• A relevant bachelor’s degree with study of specific courses like financial accounting, economics, business law, auditing, etc.
• After completing their university degree from a recognized institute, the individual must undergo at least 30 months of relevant professional experience to meet their PER or professional experience requirements.

• Along with the professional experience requirements, the students also have to undergo essential training modules (four in total) to successfully complete their training to become a CPA or a CA in Canada.

• Once the modules and professional experience have been completed, aspirants have to undergo the Uniform Evaluation (UFE) as a final examination. On passing it, they will become certified Chartered Professional Accountants in Canada.

How to Become CA in Canada?

The process of becoming a CA in Canada consists of four steps. Different pathways can qualify you to become a CPA in Canada and take the CPA Professional Education Program (PEP), but the default route includes:

• Obtaining an undergraduate degree in relevant concentration from any recognized university in Canada.

• Enrolling in the CPA Professional Education Program.

• Completing 30 months of relevant accounting experience.

• Finishing four education modules during full-time work experience.

• Passing the 3-day Uniform Evaluation (UE) exam, which tests your accounting knowledge and competency.

CA in Canada - Specific professional and practical experience required as per Location

I) Ontario - Your experience must be at least two and half years, which includes about 2500 recorded work hours in areas like tax management, auditing, financial assurance, operating financial systems and technology, and financial risk management.

II) Atlantic and western province- The Atlantic and western provinces require that you gain not less than two and a half years of work experience with an official chartered accountants agency firm or company, including 2500 recorded work hours in areas like tax management, auditing, and financial assurance.

III) Quebec- The Quebec province requires that you get about two years of professional and practical training experience from any official chartered accountants company firm or agency. Your experience must include at least 2,500 recorded work hours in areas such as auditing for public accounting, financial assurance, and tax management.

Average Salary of Chartered Account in Canada- Based on Years of Experience

The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage.

Given below is the Average Salary of a Chartered Account in Canada- Based on Experience-

• A Chartered Accountant with less than two years of experience makes approximately 62,300 CAD per year. (38-40lakhs)

• While someone with an experience level between two and five years is expected to earn 82,500 CAD (50-55 lakhs) per year, 32% more than someone with less than two years of experience.

• Moving forward, an experience level between five and ten years lands a salary of 110,000 CAD (65-70 lakhs)per year, 34% more than someone with two to five years of experience.

Tasks of CA in Canada

• The first and foremost task is to ensure the smooth running of the accounting team.

• They prepare the financial statements on a monthly basis. 

• They prepare budget reports based on the expense. 

• Chartered accountants must manage the whole financial process from the start to the end.

• They make sure that the state revenue service is in compliance with. 

• They should be able to control the data of the general register.

• They implement the processes relating to accounting systems.

• Providing support on ongoing accounting and reporting comes under their umbrella of responsibilities.

• After reviewing, they also release online banking payments.

• They train staff and also arrange training for them. 

• Preparation of financial information for companies, individuals, and departments is all done by them.

• Maintenance of internal control procedures, cost findings, and reporting is done by them.

Conclusion

In Canada, the designation of a Chartered Accountant is one of the most respected and in-demand jobs. A person working as a Chartered Accountant in Canada typically earns around 104,000 CAD per year. Salaries range from 51,900 CAD (lowest) to 161,000 CAD (highest).

So, In this article we have tried to cover everything related to the CA salary in Canada- How to Apply, Average Base Salary and more! We hope from the above article you might have gotten a clear idea of how much a CA earns in Canada. We hope you like this article!

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