CA Training Office FAQs

Why is the CA profession allowing CA students to train outside of CA firms?

The CA profession is expanding practical experience opportunities into non-traditional areas in order to provide more training positions for CA Students, while at the same time, offer more choice based on your individual interests and career objectives.

Canadian Universities in most parts of the country produce more qualified students than CA firms can produce training positions for under the traditional experience criteria. As a result, we have been losing good students who want to be CAs. The CA profession has long offered the best training in public practice; with expanded experience opportunities, we will now be able to also offer the best training in the corporate and public sectors.

These changes:

• Make it possible for CA firms and select corporate and public sector organizations that meet the defined criteria to create more entry-level positions for CA students; and
• Create more opportunities for qualified university graduates to become CAs, an important step in our strategic initiatives to secure the future supply of CAs and meet the demands of the marketplace.

What is the difference between pursuing your CA at a non-traditional CATO compared to the traditional CA route?

All approved CA Training Offices offer excellent experience that meets the requirements of the CA profession. Choosing which route to take should depend on individual interests and career objectives.

• CA Students who want a license to practise public accounting must work in a CA firm that is approved to train students in this path (includes the federal and provincial Offices of the Auditors General). In working in these firms, CA students will acquire the specific number of chargeable hours in assurance, audit, and tax.
• CA Students in the non-traditional route are not practicing public accounting, and therefore, do not require a public accounting license. Rather, these CA Students will either be rotated among various departments in the corporate or public sector, or focus their practical experience in the non-assurance areas of a CA firm (eg, tax, financial advisory, consulting, review engagements, etc).

It is important to note that where CA Students can gain their practical experience is the only component of the CA qualification process that has changed. All CA Students will still be required to meet the same education and evaluation criteria, including the UFE.

Both the non-traditional and traditional routes share the same competency-based approach to the practical experience requirements. All CA Students must track and reflect on their own competency development throughout their three years of work experience, using a tool called the Record of CA Qualifying Experience (RQE).

When does a CA need a license?

Generally, a CA only needs a license if they are the lead person (Partner) on an assurance engagement (eg. audits, review engagements), because they are responsible for signing any reports or statements issued. CAs are not eligible for a public accounting license until they obtain the necessary chargeable hours, as discussed above. Click here to learn more about licensure.

If I train outside public practice, will I be able to obtain a license?

Yes. To be able to get a license to practise public accounting, you must meet the chargeable-hour criteria that can only be gained in recognized CA firms that are approved to provide such experience (includes the federal and provincial Offices of the Auditors General). As such, CAs who qualify in the non-traditional route can get the necessary chargeable hours in public accounting after qualification as a CA. You will not have to re-write the UFE.

Don’t I need audit and assurance experience to be become a CA?

No. Under the CA profession’s new competency-based practical experience criteria, CA Students are required to obtain “depth” (i.e. focus) in one of the two core competency areas of Assurance or Performance Measurement and Reporting. Therefore, a CA student could qualify by achieving depth in Performance Measurement and Reporting and not Assurance. However, audit, assurance and tax experience will continue to be mandatory as per the current chargeable-hour requirements, if the student wants to become eligible to obtain a license to practice public accounting.

How will new CATOs prepare me for me exams? Will I be at a disadvantage compared to CA students training with one of the big CA firms?

To be recognized as a CA Training Office, all employers were required to demonstrate senior management’s commitment to training CA Students, which includes support for the various examinations. Some of our new CATOs have partnered with large CA firms to offer their CA Students joint preparation programs. Others have chosen to take advantage of the Institute’s long standing preparation programs.

How many new jobs will be available with these non-traditional CATOS (now and in the longer term)?

Currently, there are over 100 Ontario CA students working in training positions with non-traditional CATOs. Since the program is new, employers are starting with a modest number of training positions. However, we do expect rapid growth over the next three years to 500 training positions by 2012. Note that a significant portion of training positions will come from CA firms that are offering direct-entry training opportunities to areas other than audit (i.e. tax, consulting, corporate finance, etc.).

Will the new CATOs be on my campus? How do I get in touch with them?

Some of the new CATOs will be on your campus this fall and some will only post jobs on your campus. You can also visit their company websites for job postings.  As well, there is a list of approved CATOs at www.icao.on.ca, including contact information for sending in your resumes.

Have more questions? For a comprehensive list of FAQs and more detailed information on information provided above, please visit www.CATOadvantage.ca.