How does the current CPA/CIMA mutual recognition agreement (MRA) work?
- The MRA provides a route for qualified members of either body to become a member of the other body and enjoy the benefits that both designations can offer. This includes providing members with increased international recognition and mobility.
- The MRA is not applicable to students, anyone who obtained their CIMA via another MRA,other fast routes or to CIMA members who do not hold a university degree.
What is the timeline for ending the agreement?
- The terms of the previous mutual recognition agreement (MRA) will be respected during a transition period comprised of three months allowing prospective members to submit their fully completed application by July 15, 2021, at 4:00 PM Pacific Standard Time. Another 12 months will be provided for the provincial and territorial bodies to process completed applications.
Are you working together on a new form of agreement?
- The Canadian CPA profession and CIMA are negotiating a new agreement that sets out how members of each respective profession can obtain the designation of the other.
- The new agreement will outline continued entry into the profession, while ensuring the public interest is protected by keeping standards for entry at the appropriate level.
What are the application and annual fees to become a CPA, CMA under the MRA?
- The membership application and annual fees vary by CPA provincial body.
- A list of the CPA provincial bodies can be found here.
What are the application and annual fees to become an CIMA member under the MRA?
What do I need to do to maintain my membership with a CPA provincial body?
- To maintain your membership, you will be required to pay annual membership dues and meet the Continuing Professional Development (CPD) requirements for the CPA profession.
- Members in public practice will also be required to meet the annual public practice registration requirements.
What do I need to do to maintain my membership with CIMA?
- To maintain membership of CIMA, you need to pay membership fees and undertake an annual CPD declaration. A practicing member will also need to complete an annual return.
If I obtain my CPA, CMA designation in one province will it be recognized in another?
- Professions in Canada are regulated at the provincial level.
- This means CPA, CMAs who want to be recognized in another province are required to apply for membership to the other province/region in order to use the designation in that province.
- Contact the appropriate CPA provincial body for more information.
I am an CIMA student and have not completed my practical experience with CIMA to become a full member. Can I qualify under the MRA?
- Only full members of CIMA can qualify to become a CPA, CMA under the MRA.
I am a CPA Canada student and have not completed my practical experience yet to become a full member. Can I qualify under the MRA?
- Only full members of CPA Canada can qualify to become an CIMA under the MRA.