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Chartered Accountant Reciprocity Examination

Information Regarding Transfer of Foreign Designations

Please note that all CARE students who DO NOT have a CICA Handbook must contact the CICA offices directly to obtain one. You should make arrangements with the CICA offices in Toronto directly as the provincial institutes do not handle such orders. Check their website at www.cica.ca, Services & Products, CICA Handbook, or call them at 1-800-268-3793.

Information for candidates seeking to qualify as a Canadian CA under the reciprocity provisions of the Provincial/Territorial Institutes of Chartered Accountants

• CARE -- Parties Involved and Objectives
• Eligibility
• The Structure of CARE
• The Scope and Content of CARE
• Preparing for CARE
• Applying to Take CARE
• Communicating Results to Candidates

This information is designed to assist candidates prepare for and write the Chartered Accountant Reciprocity Examination (CARE). The examination is a measure of professional competency of those membership candidates who are seeking admission to a Canadian provincial or territorial institute of chartered accountants through the reciprocity provisions of the institutes. The CARE is used by the provincial/territorial institutes to ensure that members of accountancy bodies outside Canada with objectives and admission standards similar to those of the chartered accountants of Canada meet the same high standards of the Canadian Chartered Accountant (CA) qualification.

  CARE -- Parties Involved and Objectives

The CARE is the means by which the provincial/territorial institutes of chartered accountants in Canada measure the professional competence, in a Canadian context, of membership candidates who wish to obtain the Canadian Chartered Accountant (CA) designation. Membership candidates already possess an accounting qualification from an accountancy body outside Canada whose objectives and admission standards are similar to those of the provincial/territorial institutes. The CA designation is awarded to qualified candidates in accordance with the bylaws and regulations of a given jurisdiction. The jurisdiction may be any one of the provincial/territorial institutes of chartered accountants in Canada. A candidate possessing an out-of-country accounting designation must apply and meet the requirements of one of these jurisdictions.

The philosophy underlying the Canadian provincial/territorial institutes' qualification processes is summarized as follows:

• the public interest must be protected and the integrity of the CA designation maintained by ensuring that members of accounting bodies outside Canada who apply for the CA designation in one of the provincial/territorial institutes embody the high standards of education, technical competence and professionalism associated with CAs in Canada;
• 
  
• while the requirements to be completed by all those accepted by the provincial/territorial institutes as membership candidates must be uniform, at the same time they must fully take into account the diverse academic and practical experience backgrounds of members of accounting bodies outside Canada; and
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• the qualification processes and the regulations on which they are based must be administered equitably.

  Eligibility

A membership candidate is a member of a designated accounting body outside Canada who meets the requirements of the respective provincial/territorial institute set out in its bylaws and/or regulations. The bylaws and/or regulations of each provincial/territorial institute specify which accounting bodies outside of Canada are "designated". Individuals should contact the applicable provincial/territorial institute to determine their eligibilty as a membership candidate.

An individual must be registered with one of the provincial/territorial institutes in order to apply to write the CARE.

  The Structure of CARE

The CARE, which consists of two three-hour papers written over two consecutive days, is offered annually in mid to late October.

The examination tests knowledge, comprehension and limited application of knowledge but does not directly test analysis, synthesis, evaluation and similar higher-order skills.

The CARE consists of two three-hour papers written over two consecutive days. Day 1 of the CARE tests knowledge of accounting (approximately 50 marks) and assurance standards (approximately 50 marks). Day 2 of the CARE tests knowledge of Canadian taxation (approximately 50 marks), rules of professional conduct/ethics (approximately 30 marks) and Canadian business law (approximately 20 marks).

  The Scope and Content of CARE

You can expect the 2009 CARE to cover the following material to the extent that it is integral to the demonstration of your knowledge of Canadian accounting and assurance standards, the rules of professional conduct, Canadian taxation and Canadian business law:

• CICA Pronouncements to March 31, 2009
  
  
  • CICA Handbook - Accounting (including Accounting Guidelines, Emerging Issues Committee Abstracts and Exposure Drafts of proposed revisions);
  • CICA Handbook - Assurance (including Assurance Guidelines, EDP Guidelines and Exposure Drafts of proposed revisions);
  • Public Sector Accounting Handbook (including Guidelines and Exposure Drafts of proposed revisions); and
  • Guidance of the Risk Management and Governance Board (formerly known as the Criteria of Control Board) (Guidance on Control, November 1995 and Guidance on Assessing Controls, April 1999)
  
  Note:
  
  The 2009 CA Reciprocity Examination will presume early adoption of the financial instruments standards by non-publicly accountable enterprises.
  
  
• Federal Taxation Legislation enacted as of March 31, 2009
  
  You are responsible for federal taxation legislation enacted as of March 31, 2009. If, as of that date, there is proposed federal taxation legislation that, if enacted, would change certain provisions for which you are responsible, you may respond in accordance with either the enacted or the proposed provisions.
  
  
• Other Sources of Information
  
  You may acquire information from many sources during the course of your studies and work experience. In addition to those sources noted above for which you are responsible, you may integrate into your responses any relevant knowledge you have gained from any source published in printed or electronic media on or before March 31, 2009.

You are not responsible for:

• Provincial tax legislation; or
• Accounting and auditing terminology, pronouncements and practices or tax law applicable only to specific industries;
• Changes relevant to CICA pronouncements published, in printed or electronic media, after March 31, 2009.

  Preparing for CARE

A CARE preparatory course (in English) is held annually in Vancouver from September 20-25, 2009. The six day course will cover accounting, auditing, law, tax, and ethics, as well as exam writing techniques. Candidates who wish to have more information about the course should contact:

The Institute of Chartered Accountants of British Columbia
Telephone: (604) 681-3264 or 1-800-663-2677
Email: Audrey Ong at ong@ica.bc.ca

The CARE is a disclosed exam. Candidates may download recent copies of the CA Reciprocity Examination (CARE) Questions and Approaches to Solutions booklet from the Institute of Chartered Accountants of Ontario website www.icao.on.ca. The exams can be found under Admissions, Membership Candidacy CA Reciprocity Exam.  A list of useful reference materials can be found here.

Note: The CARE course is also held in Toronto. Information about the Toronto offering can be obtained by calling the Institute of Chartered Accountants of Ontario directly at 416-962-1841.

  Applying to Take CARE

The fee for the CARE course/exam is payable to the applicable provincial/territorial institutes.

Candidates should contact their respective provincial/territorial institute concerning dates for the CARE exam and the location of the CARE examination centres.

  Communicating Results to Candidates

The CARE results will be communicated to candidates by their respective provincial/territorial institute within seven weeks of writing the CARE.