Q & A: Licensing Requirements for Financial Professionals

CIC News
Published: November 1, 1999

Q. Campbell/Cohen web site warns that in certain instances the lack of Canadian accreditation may result in the refusal of an application for Canadian Permanent residence.

Is the accreditation for the professions of the:

Auditor,
Accountant, and
Financial analyst

required for the acceptance of the application?

If yes, would the US CPA license suffice?

Answer: Applicants in the profession of Financial Analyst would not typically be required to undergo such accreditation at present. Accounting professionals may be required to undergo such assessment in order to demonstrate employability in Canada, and the eligibility to write the assessments to obtain certification in Canada.

The National Occupational Classification (NOC) indicates that similar requirements exist for auditors, although at least one professional in the field in Canada, from whom we have obtained documentation, has suggested that such requirements do not exist in practical application.

In any case in which NOC requirements are not adhered to strictly, however, applicants should be prepared to provide strong evidence of employability in their profession in Canada.

[Comment: An Accountant or Auditor holding CPA accreditation in the USA would likely be exempted from undergoing assessment for the purpose of the immigration application.]

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