The Ca Designation

CA Designation

Similar to the other designations, a CA in Canada (and its certified public accounting equivalencies abroad) has become synonymous, with excellent accounting technical services, and also associated as credential of successful business managers. CAs in Canada occupy top management positions among many small to mid-sized companies, as well as top positions among Canada’s largest corporations, such as RBC Directors. However, the important question for the purposes of this paper is: does a CA designation, relative to others, obtain these levels of management and compensation faster? Overall, while average salaries of CAs are among the best, it would appear that a CA does not facilitate positions of management, in industry, as quickly as would an MBA. (Zins, 2004)

The following section will first analyze the nature of a Chartered Accounting designation (length of study, qualifications, cost), after which detail the prevalence of CAs in top management positions. This paper will also discuss the interpersonal skills generally held by CAs we well as the average salary of a CA. And lastly, we will draw conclusions regarding the CA designation’s ability to launch careers versus other designations.

Defining the CA

A CA is officially trained to have expertise in financial statement assurance, taxation and internal control compliance. To become a CA, a University (or College) degree is required, along with the successful completion of certain perquisites. Likewise all candidates must complete between 2 – 3 years of work experience in public accounting (depending on the province) and pass the Uniform Final Exam (UFE) – which is a national exam, administered annually (CICA 2009). Therefore the minimum time typical of obtaining a CA is 7 years. In terms of cost, while candidates must finance their own degrees, typically CA training courses and exam fees are paid by their sponsoring firm (SOURCE). Likewise, students during their required work months do earn...