Mutual Recognition Agreement With The Canadian Institute Of Chartered Accountants (Cica)
To support the government`s vision, we have signed a long-term strategic partnership agreement with the prestigious VAE Local Audit Association – AAA (Accountants and Auditors Association) – to improve the financial sector in the United Arab Emirates: – NASBA/AICPA IQAB – Mutual recognition agreement between Hong Kong and U.S. The task of CICA – in coordination with all provinces and territories – is to develop and maintain consistent and consistent standards for the qualification process of the profession. These standards ensure the portability of the CA designation in Canada and internationally through various mutual recognition agreements. CGA Provincial Bodies and CGA Canada signed the Existing Mutual Recognition Agreement (MRA) with the Association of Chartered Certified Accountants (ACCA) in 2011. Following the unification of Canada`s three different accounting positions in 2014, the commitments of each CGA body that was a party to the agreement were transferred to the new CPA body for that jurisdiction. With the exception of CPA Bermuda, which did not have an older CGA body, and CPA Quebec, which announced the termination of the ACCA on October 17, 2012, the new CPA bodies continued to join the agreement. On April 8, 2020, CPA Canada submitted a notice to the ACCA for the MRA to terminate the MRA effective April 30, 2021. CAs are admitted to the profession through their provincial institutes/order. These organizations are responsible for defining and managing the qualification process, admission criteria and performance standards in their legal systems. The evaluation of foreign institutions and negotiations on mutual recognition agreements are conducted by the International Qualifications Appraisal Board (IQAB) of the profession, whose current status is as follows: In 2014, CICA merged with Canada`s other two major accounting names to become Canada`s chartered professional accounts.  As part of the alliance, we signed a reciprocal membership agreement (RMA) with Chartered Accountants Australia and New Zealand (CA ANZ). This paves the way for members of each organization to join and benefit from each other.
The Institute has agreements with various recognition criteria: the ACCA and the Certified General Accountants Association of Canada (CGA-Canada) have entered into a Comprehensive Mutual Recognition Agreement (MRA). Initially signed in 2006, the contract was renewed in July 2011. In 2012, CGA Canada was part of CPA Canada. The MRA remains in effect in all provinces except Quebec. The CICA itself does not welcome members and students; its membership stems from membership in one of the ten provincial institutions and two territorial institutes of public accountants and the Bermuda Institute of Public Accountants.