The constant demand for certified and professionally qualified accountants has persisted over time. Firms seek a combination of enhanced skills and expertise, with a growing emphasis on global exposure. In the dynamic market close to the U.S., such as Canada, aligning your accounting skills and needs with global demand becomes crucial, especially in understanding global and U.S. taxation. Despite the ongoing demand for U.S. CPA holders, there remains a notable shortage in the field. This guide aims to assist you in bridging the gap in the market and positioning yourself at the forefront of this trajectory.
Why U.S. CPA in Canada?
- Many companies in Canada are American Owned or do business with the US – creating a high demand for U.S. CPAs nationwide.
- There are entire divisions for the Big4 and other international firms that require U.S. CPAs.
- The U.S. CPA Exams and Review can be completed in 6-18 months (PT).
- The U.S.CPA is more economical than other designations.
- It is internationally recognized and valued and demonstrates a high ethical standard.
- Experience requirements can be obtained around the world.
- The 4-Part Exam is “On-Demand” so you can write it at any time in the year.
You can check out our latest webinar where we discussed all the benefits and study plan for your exam preparations.
The Emerging Trends in accounting
Before we dive into why being a U.S. CPA matters, let's take a closer look at what's happening in the Canadian market and how professionals in the global accounting scene are thinking.
Automations
Global Accounting Firms
Expand on your Expertise
Analytical
Skills
Even though accountants may sense a threat with the rise of automation and the digital mindset in the fourth industrial revolution, it's crucial to recognize that automation serves as a direct aid and enhancer rather than a substitute for accountants. We extensively explored this topic in our recent conference in Amman, delving into the trends shaping the business landscape and the global shifts in market dynamics.
Yet, the fact that accounting is not under the threat of replacement does not imply it will remain untouched by the changes. Presently, individuals should proactively integrate and address the human aspect of the profession, focusing on enhancing analytical skills.
This encompasses roles like statisticians/financial analysts, operations research analysts, information security analysts, big data analysts, and market research analysts.
Top-tier global accounting firms are hunting for individuals with a solid grasp of worldwide exposure and expertise in U.S. taxation. Even major players like the Big4 are leaning towards accountants who blend financial know-how with tech skills and niche specialization. For those in Canada, the spotlight is on U.S. CPAs, seen as a kind of international passport for professionals.
Why the interest?
Holding a U.S. CPA badge signals familiarity with global market practices, covering the ins and outs of U.S. GAAP and IFRS. Despite its significance, the Canadian market is currently grappling with a shortage of U.S. CPAs. If you're reading this, it might be the right time to consider advancing your career and propelling your accounting journey especially with the latest CPA evolution that caters to the latest accounting trends.
According to Aldo, CGI, SNC Lavalin, Bombardier, Agropur, Kruger, and many other prominent organizations, obtaining a U.S. CPA opens doors to numerous opportunities including roles such as:
- Canadian Tax Consultant/ Manager
- U.S. Tax consultant/ Manager
- International Tax Consultant/manager
P.S. Considering the need for global tax exposure, taking the Tax Compliance and Planning (TCP) discipline track would be an excellent choice to boost your global expertise. You can explore the other optional disciplines here to find which one suits you best.
How does the U.S. CPA Bridge the career gap?
Raise your yearly salary to a Median of $134,000
According to 2020 report from the Robert Half Salary Guide for Accounting and Finance Professionals, the demand for U.S. CPAs is projected to grow by 6% by the year 2028, with a median annual earning potential of 134k per year in corporate accounting. By obtaining the US CPA qualification, not only enhance your business acumen but also elevate your professional standing, gaining greater prestige as you become part of the global elite of accountants worldwide.
What are the requirements to become a U.S. CPA?
Completion of at least 150 semester hours of college or university education, including a baccalaureate or higher degree conferred by a college or university acceptable to a State Board.
Successful completion of the Uniform CPA Examination.
Accumulation of 30 months (approximately 2 and a half years) of relevant practical experience.
Adherence to the Continuing Professional Education (CPE) requirements of your State.
What Happens If I Don’t Meet the CPA Education Requirements?
Morgan International has partnered with California State University (CSU) to offer candidates enrolling in our live and live online US CPA classes the possibility to earn academic extension credits to meet the educational requirements for the US CPA Exam. This means you can earn up to 42 credits in business or accounting by selecting from any of the topics on offer. Learn more about our CSU offerings.
On a final note...
Elevating your career and unlocking new opportunities is possible by becoming a U.S. CPA. If you're already a Canadian CPA, the process becomes even smoother as you can bypass the four parts and opt for the IQEX examination, focusing solely on U.S. taxation. Check out our conversation with both a Canadian and U.S. CPA as we unravel insights, navigate challenges, and discover the unique opportunities that lie at the crossroads of these certifications.
Partnering with Morgan International for tutoring and utilizing Becker's materials ensures you're Exam Day Ready. This comprehensive approach includes personalized learning with artificial intelligence and the award-winning Adapt2U technology. It guarantees effective exam preparation aligned directly with AICPA standards.
Why not trial our free 14-day demo now to experience a taste of success?