Accounting Designations

There are three main types of recognized professional accountants in Ontario. These are accountants with an accounting designation who belong to a recognized professional accounting body. They are:

• Chartered Accountants (CAs)
• Certified General Accountants (CGAs)
• Certified Management Accountants (CMAs)

The three accounting bodies are distinct from each other. Each body has different requirements for membership and emphasizes different areas of accounting practice. As well as protecting the public by ensuring high standards, the three professional accounting bodies offer their members benefits such as district association events, newsletters and special publications, job postings, and professional development programs.

Please note that this e-Career Map contains detailed information only about becoming a CA through the Institute of Chartered Accountants of Ontario.

Chartered Accountants

The education of Chartered Accountants covers all aspects of accounting, including audit and assurance. All CAs are trained to perform public accounting and are qualified for licensure.

Chartered Accountants hold positions in business, commerce, industry, government, education, non-profit, and public practice.

What kind of work do Chartered Accountants do?

Public Practice

Approximately one-third of Ontario CAs work in public practice as partners or employees in consulting firms or as sole practitioners with their own practices. They also provide advisory services for clients in many different businesses and industries. Their work includes:

• performing audits and preparing audited financial statements
• making recommendations to improve accounting and management practices
• ensuring clients' compliance with provisions in the Income Tax Act, the Canadian Business Corporations Act, and other statutes
• providing tax, estate, and financial planning advice
• providing consulting and advisory services in areas such as corporate finance, corporate recovery and insolvency, fraud, business valuations, e-commerce, mergers and acquisitions, control and risk management, information and communications technology, and general financial and business management

Business, Industry, and Government

Approximately two-thirds of Ontario CAs work in business, industry, and government. Some are managers in large or small organizations. Some CAs lead major corporations as chief executive officers (CEOs), chief financial officers (CFOs), vice-presidents of finance, or controllers. Other CAs are entrepreneurs who run their own businesses.

For more information about the CA designation, visit the Institute of Chartered Accountants of Ontario website.

Certified General Accountants (CGAs)

Certified General Accountants (CGAs) hold a variety of senior financial management positions in every sector of the economy.

Professional Education

The Certified General Accountants of Ontario offers its own program of professional education, consisting of 18 courses. The Association will evaluate university or college courses that you have already completed. You may be eligible for transfer credits. You can also satisfy some of the course requirements by successfully completing examinations that demonstrate your knowledge of course material.

In the final phase of the program, consisting of four courses, you specialize in one of four areas: Corporate and Small-Medium Enterprise, Information Technology, Government and Not-for-Profit, or Public Practice.

You must have a bachelor's degree before you can be certified as a CGA, although you can start the program before you have a degree. Your degree can be in any field of study. If your degree was earned outside Canada, the Association will evaluate it. The Association offers two opportunities for earning a bachelor's degree through distance education.

Practical Work Experience Requirement

The CGA practical experience requirement ranges from 24 to 36 months of full-time work, depending on the nature of your experience. You can be employed in an accounting or financial management role in any sector of the economy: commerce, industry, government, or public practice. The Association will evaluate your employment experience outside of Canada and may grant you some credit. However, to satisfy the practical experience requirement, you need to have a minimum of one year's current employment experience in Canada in an acceptable accounting, auditing, taxation, financial management, or systems position.

You can enroll in the CGA program before you obtain employment in the accounting field, or you can complete your course and examination requirements at the same time as you are gaining practical work experience.

For more information about the CGA designation, visit the CGA Ontario website.

Certified Management Accountants (CMAs)

The CMA designation combines accounting expertise with professional management skills. CMAs apply advanced management practices in a variety of positions in strategic planning, sales and marketing, information technology, human resources, finance, and operations.

Academic Requirement

Before you can begin the CMA professional education, you must have a university degree that includes 17 courses on topics in management and accounting studies, as well as economics and commercial law. CMA Canada will evaluate your university degree and you may be granted advanced standing for some or all of the academic requirement.

After completing the academic requirement, you must pass the CMA Entrance Examination before being accepted into the Society's professional program.

Professional Education and Practical Work Experience Requirement

The CMA Strategic Leadership Program is a two-year program focusing on strategic management and management accounting practices. In addition, the program develops communication, interpersonal, and leadership skills. While you are completing the Strategic Leadership Program, you must be employed full-time in a management accounting position. This practical work experience can be gained in a broad range of organizations.

The Strategic Leadership Program includes six interactive sessions in which candidates exchange views and experiences on program concepts with fellow candidates under the guidance of experienced moderators. Candidates also complete a series of management projects applying the concepts to their own organizations.

For more information about the CMA designation, visit the CMA Ontario website.