If you are wondering whether it will be tough to immigrate to Canada as an accountant, we can get that question out of the way right now, it won’t. As a highly skilled and qualified professional, the Immigration and Refugee Council of Canada (IRCC) has tailor-made immigration programs to make your immigration intentions as efficient as possible. The next question you will have is likely to be what your employment prospects will be like in Canada. We can confidently say, good.
Canada is fine with highly skilled individuals. In fact, you will be coming to a country with one of the world's highest-educated adult populations. However, Canada has a problem meeting its labour market’s demands.
As the economy continues to expand, Canada's workforce is aging out too fast and there are simply not enough youth to fill the existing and new positions being created yearly. To solve this issue, Canada is looking outward. So if you are serious about immigrating to Canada, read on to learn more about immigration programs, job opportunities and life in Canada.
Working As an Accountant in Canada
In Canada, an accountant makes, on average, $58,986 a year, or $30.25 an hour, According to Talent.com. Most seasoned employees earn up to $79,615 annually, while entry-level jobs start at $48,750. With Canada's strong banking and finance sector, there are numerous opportunities for accountants. From private firms to multinational corporations, you can find yourself in a wide range of interesting and challenging roles.
As a result, working as an accountant in Canada is extremely rewarding and challenging. With the right qualifications and experience, you can rise through the ranks and become a valued professional in your field.
As an accountant in Canada, you may have todo the following:
- Prepare and analyze financial statements on a monthly and quarterly basis.
- Assist with the budgeting process, identifying potential areas of improvement.
- Manage accounts payable and accounts receivable.
- Reconcile bank statements and ensure the accuracy of financial records.
- Analyze financial data and provide insightful recommendations.
- Prepare and file taxes per federal and provincial regulations.
- Manage payroll and employee benefits.
- Develop and maintain financial control systems.
- Ensure compliance with relevant laws and regulations.
Working as an accountant in Canada provides you with financial security and stability. Accountants typically earn a high salary and have the potential to move up the ranks within their organization.
As an accountant in Canada, you have the opportunity to gain valuable experience and develop your professional skills. This can include studying for new certifications, attending seminars and workshops, and networking with other professionals in the field.
Diverse Work Opportunities
Working as an accountant in Canada offers numerous job opportunities in different industries. From public sector organizations to private companies, you can find yourself in various interesting and challenging roles.
Canadian Accountant Requirements
To become an accountant in Canada, you must first complete an accredited accounting program, such as a Bachelor's degree in business or accounting. You must also obtain a Canadian Chartered Professional Accountant (CPA) designation, which requires several years of experience and training. Additionally, you must demonstrate your knowledge of the Canadian taxation system and its accounting principles.
Once you have your CPA accreditation, you can look for accounting jobs in Canada. You can find opportunities in public sector organizations, multinational corporations, or private firms. Most large accounting companies will provide on-the-job training, so you can gain the experience you need to make yourself a competitive applicant.
To apply for an accounting job in Canada you’ll have to use the NOC given to accountants and related jobs:
- TEER 1 CODE 11100 Financial auditors and accountants
- TEER 12 CODE 12200 Accounting technicians and bookkeepers
- TEER 14 CODE 14200 Accounting and related clerks
In Demand Provinces for Accountants
Numerous Canadian regions, including:
have a high demand for accountants. According to the Government's Job Bank, there will be a high demand for financial audits and accountants in Canada through 2028, outpacing the supply of qualified accountants.
5 Steps for Applying For Your CPA License
Before you can work in Canada as an accountant, you need to do the following:
- Obtain a recognized university degree
- Register with the Order as a candidate
- Complete the CPA Professional Education Program
- Complete a period of practical experience
- Pass the Common Final Examination (CFE)
Once you have completed all of these steps, you must send a permit application to the Order to obtain the CPA designation.
The Express Entry Program was created with the purpose of fast-tracking skilled and/or experienced foreigners immigration applications to get them onto Canadian soil, working and contributing to the economy as quickly and efficiently as possible. There are three programs:
You are required to create a profile, into which you enter your details. A Comprehensive Ranking Score (CRS) is calculated based on the information you provide and you are entered into a pool of applicants. Draws are then held periodically, wherein applicants are selected from the pool based on their CRS. But first, you must be eligible for the Federal Skilled Worker Program. Eligibility and scoring criteria are:
AgeThe highest scores for this category are awarded to people aged 20-35 years old, every year after that a point is deducted from your possible cap of 12 points, if you’re older, not to worry, you will make it up in the next category.
Just as you might imagine, points are assigned based on the number of years you have been working as a qualified accountant. One year’s experience is worth 9 points, but you can add an additional point for every year of experience. It caps at 6 or more years meaning you’re eligible for a further 6 points, taking your total up to 15 points.
You will need to have an Education Credential Assessment (ECA) done to verify your qualifications. An applied Bachelors of Commerce degree is worth 23 points.
Proficiency in English or French is important to be able to live and work effectively in Canada. You will need to take a Canadian Language Benchmark (CLB) test such as the IELTS, TOEFL or DILF (diplôme initial de langue française). You will be awarded up to a maximum of 28 points depending on your score. This assumes you are linguist-level proficient and can read, write, listen and speak in English or French. Realistically you are looking at earning a possible 20-24 points in this category.
Securing a valid job offer is a game changer as it will contribute a large point value when your CRS is calculated. A job offer stipulating you will be employed permanently as an accountant is worth 200 points. Make sure it is a permanent position (non-seasonal) and that the contract does not have a fixed end date or you will be allowed to work in Canada on a temporary work permit, but it will not be counted toward your permanent residency application.
You can take care of yourself, sure, but you can also earn good points by showing IRCC that. Several factors can count in your favour for the final category. For example, you and your spouse or common law partner (if you have one) can earn up to 10 points depending on a variety of factors from arranged employment to language ability to having relatives already living in Canada and more.
Provincial Nomination Program
The Provincial Nomination Program has a similar system to Express Entry, but it is province specific. So if you have a job offer in British Columbia for example, you could apply to the BC provincial government for a provincial nomination. If you are successful you will be given a letter which you can submit along with your application for permanent residency to the IRCC. It may seem like the longer way around, but it gives you more control over the process.
You can also apply for a provincial nomination without a job offer through either the Express Entry system, by creating an expression of interest in a particular province you wish to live in, or by applying directly to the province. Accountants are sought after in most of the provinces, so your chances are very good. If your provincial nomination is successful on your Express Entry profile, you will receive 600 points towards your CRS. Given you are eligible to immigrate to Canada, this pretty much guarantees your permanent residency invitation.
Atlantic Immigration Progam
The east coast of Canada remains relatively undiscovered by immigrants at large. The Atlantic provinces of New Brunswick, Newfoundland & Labrador, Prince Edward Island and Nova Scotia have banded together to create the Atlantic Immigration Program. This immigration pathway is dedicated to filling the province’s direst of labour needs, of which there are quite a lot. There are three categories:
- Atlantic International Graduate Program
- study to become an accountant or do your masters at an institution in Atlantic Canada to be eligible for this program
- Atlantic High Skilled Program -
- if you are already qualified and have a job offer in one of the provinces listed above, you are eligible for this program.
- The job offer must be for at least one year and be full time
- Atlantic Intermediate-Skilled Program
- for people with a job offer that require a high school diploma and on the job training.
There are currently over 100 vacancies for accountants in Atlantic Canada alone, and this also excludes positions for auditors and bookkeepers, which are advertised as separate professions.
How Can We Help You
By using our accredited Regulated Canadian Immigration Consultants (RCIC) you will not only improve your chances of success in the immigration application process, but you will get expert advice on which program is best for your specific needs. Our RCICs are highly qualified and are granted permission by the ICCRC to assist you with your eligibility evaluation, review all your documents and application forms and submit them to the Canadian government for you. Boost your profile by taking advice from the experts.
Are accountants in demand in Canada?
In Canada, accountants are required everywhere and constantly! According to studies, there are predicted to be 79,600 work openings from 2019 to 2028, while 79,500 companies are predicted to be looking for employees.
How do I get a job as an accountant in Canada?
There are many accounting positions available in Canada for foreign nationals, many of which offer excellent possibilities for financial development. Follow this step-by-step guide on how to get a job in Canada.
Is it easy to immigrate to Canada as an accountant?
While immigrating to another country is never easy, Canada's Express Entry system does it make it easier for accountants to immigrate. The process can be made easier by getting the assistance of an RCIC.