Both USA Certified Public Accountant (CPA) and Canada Chartered Professional Accountant (CPA) are certifications for accounting professionals. In the context of USA CPA vs Canada CPA, the primary difference between the two is that the former is a USA-approved credential, whereas the latter is a Canada-approved one.

Both of these credentials offer you the license to practice as a public accountant. However, they differ in educational, experience, and examination requirements. Besides, Canadian CPAs can also seek the USA CPA credential and vice-versa.

A USA CPA is a state-board-issued license for individuals who pass the Uniform CPA Exam and fulfill the state-specific educational and experience requirements. It is the only licensing certification for accounting professionals in the United States.

You have to fulfill all four E’s for licensure. Except for the uniform CPA exam, all other requirements vary by state boards. The four E’s are as follows:

• Exam – Pass the Uniform CPA exam (score at least 75 out of 99)
• Education – 150 credit hours of education with an emphasis on accounting
• Experience – Gain 1-3 years of work experience
• Ethics exam (only if required by state board)

The USA CPA license also demands renewal from time to time through fulfilling the Continuing Professional Education (CPE) requirements as per the state board. 

The American Institute of Certified Public Accountants (AICPA) conducts the Uniform CPA exam in association with the National Association of State Boards of Accountancy (NASBA) and the state boards. Both these agencies govern the entire procedure to gain the CPA credential. 

It consists of four sections to be taken one at a time. You get four hours to complete each exam section. Each exam section consists of five testlets. These include multiple choice questions (MCQ), task-based simulation (TBS), and written communication (WC) testlets. You must pass all four sections within 18 months of passing the first exam section.

You must pay the required application and examination fees to your BOA or NASBA to take the CPA exam. The fees may vary as per your jurisdiction. The following table presents an approximate amount of fees charged.

As an international candidate, you can obtain the CPA license by taking the International Qualification Examination (IQEX) and fulfilling the other state board requirements. However, you must select the jurisdiction which participates in international administration. You can check your eligibility through the NASBA’s Internal Evaluation Services.

Canadian CPAs can take the IQEX exam provided they meet the following eligibility criteria presented in the November 1, 2017 Mutual Recognition Agreement (MRA).

• Possess the Letter of Good Standing issued by Chartered Professional Accountants of Canada (CPAC)
• Have relevant education 
• Pass CPAC’s Common Final Examination (CFE)
• Hold required audit rights
• Possess necessary work experience (at least one year)
• Comply with the Continuing Professional Development (CPD) requirements

Both credentials offer the benefit of a higher salary, better job opportunities, career stability, and respect in their respective countries. However, the time taken and the cost involved in acquiring the USA CPA license are not as much as required in Canada CPA certification.

Canada CPA is a globally recognized license for professionals to practice accounting in Canada. CPA Canada (CPAC) is the national organization that regulates the accounting profession in Canada along with the provisional or regional accounting bodies.

You must be a member of any of the provisional CPA body of Canada to attain the membership of CPA Canada. Canadian CPA credential unifies the country’s three legacy accounting professions, namely, Chartered Accountant (CA), Certified General Accountant (CGA), and Certified Management Accountant (CMA).

You have to fulfil the following requirements for certification:

• Enroll in the CPA Professional Education Program (CPA PEP)
• Pass the Common Final Exam (CFE)
• Gain relevant practical experience (30 months)

CPA PEP is a two-year graduate-level program aiming to enhance the knowledge and skill of accounting professionals. It can be taken up on a part-time basis while working. It is developed nationally but administered by provincial or regional CPA bodies.

To enrol in the CPA PEP, you must have:

• A bachelor’s or master’s degree in accounting or a relevant field
• Proficiency in the English language (at least level 8 in Canadian Language Benchmark)

Non-accounting degree holders can enrol for CPA Preparatory Courses (CPA PREP) to take up CPA PEP. Non-graduate aspirants can also register for CPA PEP subject to certain conditions. Candidates under the legacy CA, CGA, and CMA programs transitioned to the CPA program must retain registration to avail transition rights.

CPA PEP has six modules. They are as follows:

• Two core modules
• Two elective modules
• One common capstone integrative module
• One capstone evaluation preparation module

All modules end with an evaluation. You must pass each module to proceed to the next one.

On passing all the CPA PEP modules, you can take the CFE. CFE is a case study based exam conducted over three days. For more information on the exam guidelines, check the CPA Canada website and go through the CPA Competency Map. After passing the CFE and gaining the necessary work experience, you are entitled to Canada CPA certification.

The fees of CPA Canada certification vary by region. The following table presents an approximate amount of fees charged.

With a USA CPA credential, you may get the Canadian CPA designation through mutual recognition agreement (MRA), provided you fulfill the following requirements:

• Have at least 150 credit hours of education
• Pass the Uniform CPA Exam
• Possess 30 months of relevant experience or fill the International Practical Experience Verification and Employer Details form (as per your post-qualification experience)
• Compliance with CPE requirements

Please note that USA CPAs who have been, or still are, Canadian residents should cater to additional requirements.

Comparing the job responsibilities, knowledge, and career course of USA CPA vs Canada CPA reveals hardly any difference between the two credentials. Both offer valuable financial consulting services across business sectors.

They help design, evaluate, and implement strategies to ensure clients’ long-term interest. Their clients range from large multi-national companies, financial institutions, government agencies to the small start-ups.

To sum up, if you wish to enter the unique world of finance and business in Canada with a license that can pave the path for a glorious future, Canada CPA is the way to go! However, if you are good with numbers, want to boost your accounting career, and are living in or planning to live in the United States, then the USA CPA credential is the right pick for you. 

This article has been a guide to USA CPA vs Canada CPA. Here, we compare the difference between USA CPA & Canada CPA along with infographics and a comparative table. You can learn more from the following articles –

• CPA vs PA
• CPA vs Bar Exam
• CPA vs Non-CPA salary