Are you currently working as an experienced accountant in your home country? Do you wish to immigrate to Canada as an accountant? If so, we have good news for you! Canada needs individuals who have great accounting skills. Meanwhile, several accounting job positions are available for skilled workers, such as financial auditors, accountants, accounting technicians, bookkeepers, and sales representatives.
As an accountant, you’ll have to use your education and experience to examine and create the accuracy of financial statements for a company/individual. In addition, you can earn an average annual salary of $85,000 when you immigrate to Canada as an accountant. The major responsibility of an accountant is to ensure the accuracy of financial documents. And also comply with the relevant laws and regulations.
In this article, we’ll discuss some of the reasons you can immigrate to Canada as an accountant and its requirements. We will also take you through the various immigration pathways to Canada for accountants. Interested? Let’s get started!
Job Roles Of An Accountant In Canada
Below are some of the job roles of an accountant in Canada. Let’s check it out!
- Accountants help to establish and manage accounting systems for various organizations/individuals and prepare financial data.
- They also assist in reviewing accounting records and developing financial reports, and statements.
- Accountants are responsible for creating and maintaining procedures for cost analysis, reporting, and internal controls.
- Furthermore, they review financial accounts so they can prepare income tax returns based on accounting data.
- They often analyze financial reports to offer business, tax, and financial guidance.
- In addition, they serve as a trustee during bankruptcy processes.
- Lastly, they monitor and instruct trainees, such as administrative technicians or accounting students.
Reasons To Immigrate To Canada As An Accountant
There are numerous benefits and opportunities when you immigrate to Canada as an accountant. Below are some of the reasons you should consider this move to Canada. Scroll down!
1. High-paying Job Opportunities
When you work as an accountant in Canada, you will have the opportunity to earn high wages. It doesn’t matter whether you are a skilled or an unskilled worker. For instance, an accountant in Canada can earn an average salary of $43.59 per hour.
2. In-Demand Accounting Jobs In Canada
There are several provinces in Canada, such as Nova Scotia, Saskatchewan, Manitoba, and Quebec, that have a high demand for accountants. Additionally, the Job Bank of Canada is anticipating an increase in the demand for qualified accountants and auditors until 2028.
3. Various Immigration Programs
There are over 70 skilled worker immigration options in Canada, including the Express Entry system. This is a point-based method that evaluates variables like education, work experience, and language skills, to allow qualified accountants to immigrate easier.
4. Excellent Social Benefits
Immigrants in Canada have the opportunity of a variety of social benefits, like basic healthcare coverage and social assistance programs. Meanwhile, it ensures the safety of individuals and their families.
Requirements For An Accountant In Canada
To immigrate to Canada as an accountant, you must be chartered or have a regulated status in your home country. Generally, through a Mutual Recognition Agreement (MRA) or Reciprocal Membership Agreement (RMA), chartered and certified accountants around the world are recognized as qualified to Canadian standards.
Therefore, if you are in one of these categories, you will most likely have rights to Canadian certification. Aside from obtaining a Canadian accounting certification, you must also acquire an undergraduate degree. Even though the Professional levels of the Chartered exams can be of Master’s or higher, your undergraduate degree must be added to your chartered status.
However, if you obtained your degree from outside of Canada, you’ll need to get an ECA (Educational Credential Assessment) done. An ECA is a form of assessment used to verify a foreign degree, diploma, or certificate to prove that your degree is valid and equivalent to a Canadian degree.
Ways To Immigrate To Canada As An Accountant
These are the following ways that you can use to immigrate to Canada as an accountant. Scroll down!
1. FSWP – Federal Skilled Workers Program
If you’re a skilled worker with international qualifications, you can get Canadian permanent residence through the Federal Skilled Worker Program. Rather than focus on occupation, this program is a point-based system that considers factors like age, education, and language skills for applicant selection.
2. PNP – Provincial Nominee Program
This program allows qualified candidates to be nominated by provinces and territories in Canada for permanent residency. Therefore, candidates must possess the right education, credentials, and work experience to fill labor shortages. Furthermore, most Canadian provinces have their PNPs, except for Nunavut and Quebec. The Express Entry PNP stream usually chooses candidates based on their CRS results, while others choose individuals for certain in-demand jobs.
3. RSWP – Quebec Regular Skilled Workers Program
This program encourages qualified individuals to work and live in the province of Quebec. As such, applicants can register irrespective of their profession, while the selection criteria include experience, education, language skills, and age. Selected individuals will get a Quebec Selection Certificate, and IRCC will further process their permanent residency applications.
4. AIP – Atlantic Immigration Program
Foreign workers/students can permanently reside in Atlantic provinces such as New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland, and Labrador through the Atlantic Immigration Programs.
Meanwhile, AIP selection is not based on occupation, applicants must have at least a year of full-time paid work experience.
Also required is a valid job offer from an Atlantic company and 1560 hours of work during the last five years.
Ways To Get Accounting Jobs In Canada
You can get an accounting job in Canada through the following ways. Scroll down!
1. Understand The Requirements Of The Local Job Market
To acquaint yourself with the requirements of the job market, you can check job ads for roles in Accounting at your level. It will help you to identify the qualifications, experiences, and skills that are in demand.
However, CPA credentials are usually not needed to obtain an entry-level and Mid-level position.
However, some employers can have preferences for hiring candidates that are still working on their CPA. If you are seeking to acquire a CPA, you can enroll with the provincial agency and start the PEP modules before you enter Canada. Additionally, it’ll increase your job prospects and can be considered for the professional criterion of 30 months of experience that the CPA qualifications require.
2. Acquire Additional Skills And Qualifications
As a new immigrant in Canada, you will need to get acquainted with the most usual accounting standards that have been used. These include:
- The ASPE – Private Enterprises’ Accounting Standards.
- The IFRS – International Financial Reporting Standards.
- PSAB – Accounting Standards of Accounting Board for Public Sector.
- ASNPO – Accounting Standards for Not-for-Profit Organizations.
Meanwhile, it will be of great benefit for you to invest in certifications and upskilling courses. This would help you increase your chances of easily landing an accounting job in Canada. A Microsoft Excel certification, an ERP certification, a finance certification, and an analytics certification.
In addition, a report creation tool certification will also be useful in the Canadian job market. Quickbooks and Xero also provide accounting and tax tools that will give you an upper hand over your competitors.
3. Design A Canadian-Style Accounting Resume
The three unusual formats of resumes in Canada include Functional, Reverse Chronological, and Hybrid. The best format that you’ll use for your CV will depend on the level of apt accounting experience you possess and if your work history has gaps.
Meanwhile, most Canadian employers apply an Applicant Tracking System (ATS) to filter suitable applicants from the plenty of applications. It’s essential to customize your CV for every job role and include keywords from the job description to improve your chances of being selected for interviews. You can delve online if you are unsure of achieving this independently.
4. Seek Opportunities On Employer Websites And Job Portals
The following are great job search platforms for seeking job openings online: Indeed, Grab Jobs, Monster, Glassdoor, LinkedIn, and Canada Job Bank. Furthermore, you can even short-list preferred employers and get up-to-date news from their career pages on the website and LinkedIn profile
5. Enhance Your Professional Network
The professional culture in Canada values networking so much and the majority of hidden job markets in Canada can be accessed only through your network.
As a newly arrived accountant, you can learn more about the job market by connecting with professionals on LinkedIn.
As well as with other people in your field at networking events or provincial associations. Once you’ve connected with them, you can develop your network with face-to-face coffee chats or just over social media or e-mails.
Conclusion
If you wish to progress and further your accounting career in a new country, you should consider immigrating to Canada. The Canadian government offers a whole lot of immigration assistance programs. That’s aside from the Express Entry Program and the Provincial Nominee Program.
Meanwhile, these two programs are being run by the federal government. The benefits of working and living in Canada as an accountant are available to those who meet the requirements and complete the process successfully.