Membership to CPA Bermuda from other accounting bodies

Admission Steps for Overseas Members to CPA Bermuda Membership from Other Provincial and Other Affiliated Institutes.

For an overseas member of another Provincial or Affiliate Institutes to become a member of CPA Bermuda, they must first be a member, in good standing, with their Provincial/Affiliate Body.
To be in good standing

  1. the member's fees must be current and
  2. their Continuing Professional Development hours up-to-date at the time of applying for admission to CPA Bermuda membership.

The member must then complete the CPA Bermuda’s Application for Membership, duly signed by a current member, in good standing, of CPA Bermuda and a member that knows the applicant to be of good moral character and habits and in every way a fit and proper person to be admitted to membership to CPA Bermuda. On receipt of the completed application, CPA Bermuda in turn requests a letter from the relevant member's Provincial/Affiliate Body seeking confirmation of their membership with them and that the membership is in good standing. On receipt of such a letter, the application is prepared for presentation to the Application Review Committee for final approval by Council.

International Qualifications Appraisal Board

The International Qualifications Appraisal Board (IQAB) is responsible for assessing the admission standards of foreign accounting bodies and recommending to the provincial bodies of Chartered Professional Accountants in Canada whether and under what conditions members of these bodies may be admitted to the Canadian CPA profession based on their foreign qualifications. IQAB also negotiates Mutual Recognition Agreements (MRAs) with foreign accounting bodies whose qualifications processes have been assessed as substantially equivalent to the Canadian CPA standards of professional education, experience and evaluation and who can provide Canadian CPAs with reciprocal rights to licensure and certification ("designated bodies). IQAB works closely with our provincial institutes, which are ultimately responsible for approving its reports and Mutual Recognition Agreements. We work closely with US IQAB - comprised of AICPA and NASBA representatives - on those reviews in which both groups have a common interest.

IQAB's recommendations that have been approved by the provincial institutes reflect eleven foreign accounting bodies whose members are recommended for exemption from the Common Final Examination (CFE) ("designated bodies") and seven bodies whose members are not.

Designated Accounting Bodies

The eleven designated accounting bodies whose members are recommended for exemption from the UFE are:

  1. The Institute of Chartered Accountants in Australia
  2. Institut des Reviseurs d'Enterprises de Belgique
  3. The Institute of Chartered Accountants in England and Wales
  4. Ordre des Experts Comptables (France)
  5. The Hong Kong Institute of Certified Public Accountants
  6. The Institute of Chartered Accountants in Ireland
  7. Instituto Mexicano des Contadores Pùblicos (IMCP)
  8. Nederland Instituut van Register Accountants
  9. New Zealand Institute of Chartered Accountants
  10. The Institute of Chartered Accountants of Scotland
  11. The South African Institute of Chartered Accountants

AICPA and The National Association of State Boards of Accountancy in the United States of America exempt CPAs in their respective state from the requirement to pass the AICPA final examination.

Non-Equivalent Accounting Bodies

The five non-equivalent accounting bodies whose members are not recommended for exemption from the CFE are:

  1. The Australian Society of Certified Practicing Accountants
  2. The Institute of Chartered Accountants of Pakistan
  3.  The Philippines Institute of Certified Public Accountants
  4. The Institute of Chartered Accountants of Sri Lanka
  5. The Association of Chartered Certified Accountants of United Kingdom

Accounting Bodies Currently Under Review

  1. Institute of Chartered Accountants of India
  2. The Institute of Chartered Accountants of Zimbabwe

Members of Non-Assessed Accounting Bodies

Accounting bodies who are not Members of Designated Accounting Bodies or Members of Non-Equivalent Accounting Bodies, have not been assessed by the Canadian CPA profession's International Qualifications Appraisal Board (IQAB).

These are categorized as Members of Non-Assessed Accounting Bodies. As a member of one of these, you are not automatically eligible for exemptions from any education or examination requirement of the Canadian CPA program.

You may, however, ask for an individual assessment of your qualifications and those of your accounting body to determine if the respective provincial body will grant you exemptions. If exemptions are not granted, you must complete all the requirements of the respective accounting bodies program to qualify for membership. For the details, refer to the respective provincial websites).