andre bellefeuille - fmi*igf atlantic presentation to fmi apr 2015.pdf · andre bellefeuille....

ANDRE BELLEFEUILLE

Anne-Marie Gammon, MBA, FCMA, CPA(NB), CMAChief Executive Officer

Andre Bellefeuille, CMADirector, Marketing, Business Dev & CommCPA Atlantic School of Business

April 15, 2015

Agenda1. 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

The Merger

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

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 provincial-level mergers

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

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

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

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 in-

market program advisors in NS, NB, and NL as well as contracted instructors

Benefits of the CPA Designation

CHARTERED PROFESSIONAL ACCOUNTANT (CPA)

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

• Transportability - internationally recognized

designation

• Positions you as a strategic decision maker


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

• 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


Choosing an Accounting DesignationQuestions to consider• Why invest in a designation?• What’s your end goal?


ANDRE BELLEFEUILLE

Choosing an Accounting DesignationWhat 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 ..

Can You Envision Your Path?

Overview of the CPA Accreditation Path

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 …

CPA Path – Competency MapAt qualification, CPAs will demonstrate:

Technical competencies Enabling competencies

Financial reporting Professionalism

Strategy and governance Ethical behaviour

Management accounting Written and oral communication

Audit and assurance Leadership

Finance Problem solving and decision making

Taxation

The CPA Path – Overview

Eligibility

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”

CPA Path – Prerequisite TopicsNon-Core Modules Core ModulesIntroductory Financial Reporting

M1 Intermediate Financial Reporting I M5.1

Introductory Management Accounting

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

M9

Performance Management M10

CPA Prerequisite Education Program (CPA PREP)


The CPA Prerequisite Education Program (CPA PREP)Overview:• Designed by the CPA profession for university graduates without

accounting degrees• Provides all required prerequisite courses• Accelerated • Modular, part-time• Distance-learning modality• Available in English (French equivalent is also available)

• High quality, cost effective


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 before taking any 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)

CPA Professional Education Program (CPA PEP)


CPA Professional Education Program (CPA PEP)

• Two common core modules• Two elective modules• Capstone integrative module• Capstone exam preparation module


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 to apply knowledge and skills in a

professional context• Series of modules typically taken over two years; part-time• Accelerated 17 month path also available; part-time


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, non-public and the public

sector as well as in accounting firms• Not necessary to be employed at the time of program entry

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

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

Alternate Paths

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

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 four-

semester schedule• Scheduled to launch nationally in fall 2015

Eligibility:• Completion of college accounting diploma with

10 specific prerequisite courses

CPA Practical Experience Requirements (PER)


CPA Practical Experience RequirementsPrinciples:

• Candidates must have …• Opportunity to develop ethical behaviour and

professionalism• Opportunities for development in accordance with the

CPA competency map• Appropriate supervision and mentoring• Appropriate oversight by the profession


CPA Practical Experience RequirementsImplementation

• 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

• 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.


CPA Practical Experience RequirementsTwo models:• Approved Path• Experience Verification


CPA Practical Experience RequirementsApproved Path

• Training paths pre-approved by the CPA profession; and appropriately supervised and mentored

• Onus on employers to pre-approve path, identifying how 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)


CPA Practical Experience RequirementsApproved Training Offices (ATOs) in the Atlantic Region

• Roughly 200 in total• For public sector, includes: Office of the Auditor General of Canada (Halifax office) Auditor General offices for all Atlantic provinces Canada Revenue Agency (all local offices through an

approved national program)


CPA Practical Experience RequirementsExperience Verification

• Work environment that provides relevant and progressive training positions; appropriately supervised and mentored

• Candidates submit detailed experience reports with their immediate supervisors verifying their experience, for approval by the CPA profession.

Both paths are equally demandingand challenging

Next Steps

Have your eligibility reviewed for CPA PREPWhy 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)


CPA Program Advisors in theAtlantic Region

Nova ScotiaShawn Smith, [email protected]

New Brunswick and PEIRachelle Gauvin, [email protected]

Newfoundland and Labrador, and Bermuda

Courtney Barnhill, [email protected]

www.cpaatlantic.ca

mailto:[email protected]



ANDRE BELLEFEUILLE

Overview of the CPA PER

Overview of the CPA PERFive Common Requirements

QUALIFYING EXPERIENCE

APPROPRIATE SUPERVISION

REPORTING &SELF ASSESSMENT

CPA MENTORSHIP

ASSESSMENT BY THE PROFESSION

CPA Practical Experience Competency RequirementsTECHNICAL AND ENABLING COMPETENCIES

Technical Competency Requirements: ProgressionEvolution 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

Pre-Approved Program vs. Experience Verification

• 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

Pre-Approved ProgramTWO ROUTES. ONE STANDARD.

Five Common CPA PER Pre-Approved Program Experience Verification

Organizations obtain pre-approval for a defined position/program from the profession

Any position that meets the entrance requirements is acceptable

Supervisors assign work specified in the pre-approved program

Supervisors attest to accuracy of factual information

Future CPAs complete streamlined experience reports

Future CPAs complete detailed experience reports

CPA mentors are assigned to future CPAs by the organization

Future CPAs must find a CPA mentor

Programs are monitored by the profession

Experience is assessed by the profession as it is gained

Summary of Five Common CPA PER

QUALIFYING EXPERIENCE

APPROPRIATE SUPERVISION

REPORTING &SELF ASSESSMENT

CPA MENTORSHIP

ASSESSMENT BY THE PROFESSION

What are my responsibilities under the pre-approved program?

• Appoint pre-approved program leader(s) – maintain senior-level ownership of program

• Provide appropriate working environment – guidance and instruction on ethical issues

Culture

• 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

Program

• Certify completion of experience with final signoff • Partner with the profession to monitor the program

Monitoring

Benefits of the Pre-Approved Program

• Significantly less reporting requirements for future CPAs and employers that regularly hire future CPAsEfficiency

• Practical experience will be completed within 30 monthsCertainty

• Organizations have control over who is in the programOversight

• Powerful recruitment tool for hiring future CPAsRecruitment

• No direct cost to obtain and maintain approval statusCost

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

What does the application look like?

Application will consist of:• Executive summary• Excel competency mapping template

Introduction

Education and training support

Experience

Culture

Conclusion

Questions?

andre bellefeuille - fmi*igf atlantic presentation to fmi apr 2015.pdf · andre bellefeuille....

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