Wednesday, May 25, 2022

Aussie and NZ Professional Accounting Qualifications – CA Vs CPA

What's up audit fans dr amanda here and today on amanda loves to audit we're digging into the age-old question here in australia in new zealand ca or cpa which of those professional qualifications should i choose i get this question all the time on my socials and from students coming up getting .

Ready to graduate should i do the ca should i do the cpa so i'm going to revisit one of my most popular videos where i compared the three main qualifications ca cpa and ipa so let's dig in hi and welcome to amanda loves to audit for those of you who are new welcome my .

Name is amanda i do love to audit and uh as of 2022 i'm not going to be teaching order to undergrads anymore i'm going to be teaching first year accounting to undergrads at a major australian university don't worry i'm still going to be hanging out in the audit space and making audit videos you can't get rid of me that easily .

Now for all of my regular subscribers hey welcome back it's great to see you i hope everybody's doing well i'm seeing all your messages from amazing places like pakistan sierra leone madagascar the ukraine i can't list them all but when i look at my little map of where you're all watching from i don't think there is anywhere in the world where .

People are not watching my videos maybe north korea potentially um and i don't think anybody is watching from antarctica at this point so if you know an accountant in antarctica you know get them to watch the channel but today we're going to be looking at accounting qualifications and choices .

Now i'm only going to be looking at ca and cpa today why am i not looking at the ipa qualification i'm not looking at the ipa qualification because when i search the job advertisements for accountants and graduate roles they talk about the ca and the cpa nobody is talking about ipa as a professional designation or very few job .

Advertisements are talking about it so i'm going to stick with comparisons of the two major items so i'm going to jump in pull up my green screen so that i can show you some little comparison tables that i've made so i've built this comparison table based on my research on the ca and cpa websites .

I've taught many students have gone into ca and cpas i'm not going to score these like you would normally see on a typical um youtube video comparing x and y but i just want to make sure that you understand the features of both of them now something that's common to both is online self-directed learning they all have a learning management system .

Where you'll get access to a significant amount of material videos text exercises practice quizzes etc now ca used to be that you enrolled in the subject and they there was a live class associated for every module ca and cpa both now have live classes or tuition .

Um as an additional extra so in ca often they're called master classes i think they might have a slightly different name now under the ca program the modified ca program um those are all offered by ca directly um you'll also in the study mode you'll get access to a discussion board where ca people will be responding to questions on the other end .

Of the line but if you want you know regular classes and live things to attend they do have that available for an additional cost cpa australia also have live tuition available at an additional cost and they've got a variety of approved providers so some of this they provide .

Themself some of these they use um other training providers to facilitate those live sessions we've also got exams and assessments so obviously because we don't no longer have physical exams and ca candidates used to go to i think the randwick race track or something to sit their exams all of the exams are now .

Both online and both of the professional uh bodies are using dedicated online exam services so they have quite a lot of different functionality i've seen um both of the systems that are used and it's more than just your canvas or your blackboard lms with the exam in them these are .

Purpose-built systems i've been really impressed with the exam setups for both of these organizations so entry requirements this is where it gets a little bit different so ca has the requirement for an accredited university program now most of the ca programs are in australia and new zealand there's a very small number of .

Asian and oceanic institutions so nan yang university in singapore for example is on the list i think there's a university in fiji that's on the list there's a handful of internationally recognized or accredited undergraduate or postgraduate programs that you could do to then start the ca program .

What is different about cpa is that there are many more institutions available so you get lots and lots of institutions in asia and throughout oceania there is a calculator or not a calculator like an accreditation checker available on the cpa website i'll link that in the .

Description to the video where you can select your university select the program um and then see if it's accredited or not ca or cpa have a list i'll also link to the list it's easy just to scan down the list but obviously we'd see it with cpa it's so much larger that they have this database that you can search so if .

You're thinking about starting the cpa from within southeast asia then there's obviously a lot more options there than if you were interested in starting the ca so now there is a foundations pathway for both options so that means if you've done a degree and it's not .

Accredited and you don't want to study another qualification you can sit through foundations subjects to prove that you know the foundations and fundamentals that we would learn in our accredited program entry requirements so they both have ca and cpa uh have these options .

And you pay specific subjects these are all uh what we would call non-award so you don't get a degree or something at the end of it even if you studied a bit of accounting and maybe not all the subjects there's ways to get into the cpa program and the ca program without having to start at a university degree all over again .

Now subjects and structure is where it gets a little bit different so the ca program is nine subjects in total and you've got seven core and two electives this has been a big change so in 2021 we have new ca the new ca program which was affectionately called ca x was kept secret i think within uh the accounting profession and so the program .

Is ethics risk and technology financial reporting tax business performance audit integrated practice which is like a capstone and then two electives so people could choose from advanced tax advance audit business analytics data visualization there's a whole range of electives being developed in the business data analytics type one seems .

To be very popular at this point in time when you go over to the cpa program they have six subjects and there are four core subjects ethics management accounting financial reporting strategy and leadership notice there's no order there's no tax specifically there and then you can do two electives now .

You might think six subjects versus nine subjects it's all about the same period of time for both of these programs however the ca modules or the ca subjects are slightly shorter so they're not sort of 10 to 12 week university style programs they're slightly smaller which is why there's actually more of them so you're .

Still getting the same rough volume of learning but it's just in a slightly different format so you sort of want to think about okay well a lot of people are not interested in doing audit and tax so therefore the cpa might be something that you're better interested in .

Now experience is exactly the same 36 months of experience um mentored experience to be able to be qualified as a ca or a cpa there is a very slight difference though the cpa program allows you to include experience prior to starting the program so if you've had two years working in an appropriate role .

After graduation but you're just a bit slow to start the cpa program you've been appropriately mentored then they will count that towards your 36 months however the ca program says that it starts when you become a provisional ca and enroll so to enroll you have to become a .

Provisional ca member and so that 36 months doesn't start until that point in time there is no way to recognize prior experience when you're going down this particular pathway so ca there's just that slight difference now in terms of the qualification or the outcome with the ca obviously you become a qualified ca at the end and you get a .

Graduate diploma so ca is accredited through texa which is the tertiary education qualifications and standards authority so they can they can actually give a degree so you get a graduate diploma with the cpa designation you become a cpa but they are not techs are .

Accredited so that means that you don't get a graduate diploma or graduate certificate afterwards so the difference is that i guess if you wanted to go into a master's program then you've got a graduate diploma that'll allow you to get into a masters however cpa also has a program that will allow you to recognize some of their .

Subjects into very specific masters programs where they have agreements with those institutions and you can find out more about that on the cpa website now you think cacpa what are my other options if you're not interested in ca or cpa i have to mention the institute of public accountants the last time i compared all .

Three of these this time i focused on ca and cpa because when you look at job advertisements they are saying things like ca qualified and cpa qualified job advertisements are not saying anywhere near as much ipa qualified so it's just a less recognizable um .

Uh i guess or less well-known qualification um i've seen you know positives and negatives uh online about people who have done the ipa so it's worth checking out the ipa if you're interested the last time i made a video about the ipa somebody wrote me a very angry anonymous note from the ipa because i didn't say .

It was the best qualification um so you know i'm not saying whether any of these are better or worse but consider the ipa you can search for the institute of public accountants the other one is acca now acca is a global designation it comes out of the uk but we're seeing a huge uptick because of the accelerate program and the .

Accelerate program actually allows you to study some acca subjects while you're at uni which is very very interesting because you can't study your cpa or your ca at university um where i am seeing the most interest in the acca subject .

Is uh especially with uh chinese international students so acca is really gaining traction it seems in china and i've had lots of inquiries acca when i've talked to them are fielding lots of inquiries from chinese international students studying .

Undergraduate and once you've reached a certain point in your undergraduate studies you can actually start taking acca professional qualification exams which is a lot of extra study so just be wary of the workload of doing that but that's another option we don't see too many accas .

Here and not a lot of students study it most people are in the ca or cpa camp but that seems to be growing and if you're an international student looking to build an international career it's worth getting in touch with the acca office in your country to find out more about their accelerate program and whether it's offered in your country .

So how do you choose the best qualification for you there's no single one best option out of all of the options that i would recommend so think about what are your career goals do you want to go big four do you want to go commercial because quite often we do see more cas in big4 practice we see very few cpas for example as registered .

Company auditors but lots of cas so if you're interested in that pathway ca is going to be the way to go also think about your graduate job if you've already got a graduate job they will give you a lot of guidance oh yep we want you to do the cpa you can do the ca so think about what they offer talk to .

Your co-workers about what they've done do they have any advice for you who is going to be your mentor so it's easier sort of if with the cpa to have a cpa mentor with the ca to have a ca mentor there can be cross mentorship arrangements for your um three years of work experience sometimes it's just a little bit easier um to figure out that .

Mentorship within the same designation and then the third thing to think about is cost so you know you are investing in yourself so think about that as a long-term investment but consider how much you paying will will your firm pay for any .

And not just the cost of the modules but also the cost of any live tuition that you may wish to have so i hope that video was useful there is no one best qualification one that's better than all of the others you need to find the qualification that is the best fit for you and what you want to achieve there's a .

Whole range of factors that come into play but make sure you talk to lots of people talk to cas and cpas go along to their information sessions pepper them with questions and make sure that you do the research to help you figure out which qualification is the best one for you so as always i'd really appreciate it if .

You'd like the video please give us a thumbs up drop me a comment if you have any questions uh down below and if you haven't already consider subscribing just because i'm no longer teaching auditing anymore doesn't mean that i'm not still going to be talking about audit and lots of important audit issues for students academics and .

Practitioners so i hope you're all staying safe you're staying well and i'll see you next time


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