While jobs, responsibilities, and skill requirements are continuously changing, accounting certifications remain as vital as they ever were. Accounting and finance professionals can use accounting certifications to gain professional advancement, achieve promotions, and get pay raises.
Each accounting designation has a different career focus. Depending on your personal career objectives as a financial professional, some accounting certifications might be the right choice for you while others may not be as useful.
In this article, we have outlined a comprehensive list of Accounting Certifications in Canada that can help you build a successful accounting career. Read on!
7 Accounting Certifications that are Useful in Canada
1 – Chartered Professional Accountant or Certified Public Accountant (CPA)
Globally recognized and respected, the Chartered Professional Accountant (CPA) designation is undoubtedly a key in helping you advance your career as many employers will only focus on candidates for their finance and accounting teams that have a CPA designation.
2 – Chartered Financial Analyst (CFA) Certification
The CFA certification is a top designation in Canada for anyone wanting to work in the finance and investment industries. CFA designation holders demonstrate high proficiency in areas such as portfolio management, investment analysis, economics, and professional and ethical standards. CFA holders make excellent controllers and CFOs.
3 – Internal Auditor Certification (CIA)
The Certified Internal Auditor (CIA) is the only worldwide recognized designation for internal auditors. If you want to pursue a career in auditing and become a manager or chief audit executive, you should definitely pursue this certificate.
4 – Chartered Global Management Accountant (CGMA) Certification
CGMA is the most widely held management accounting designation in the world with more than 137,000 designees. This international designation recognizes the most talented and committed management accountants with the discipline and skill to drive strong business performance.
CGMA designation holders are either CPAs with qualifying management accounting experience, or associates or fellow members of CIMA.
5 – Financial Planner (CFP) Certification
Any financial professional considering a career in investment or wealth management should consider getting the Certified Financial Planner (CFP) designation. CFPs help individuals in a variety of areas in managing their finances, such as retirement, investing, education, insurance, and taxes
6 – Chartered Alternative Investment Analyst (CAIA) Certification
The CAIA (Chartered Alternative Investment Analyst) is one of the top accounting designations that concentrates on alternative investing. This financial qualification is for those interested in working in the asset management and hedge fund industries. Chartered Alternative Investment Analysts are qualified to assess alternatives investments such as hedge funds, venture capital, and private equity. A CAIA designation is also useful for people managing derivatives books or trading desks.
7 – Chartered Certified Accountant (ACCA) Certification
The Association of Chartered Certified Accountants (ACCA) is a professional accountancy qualification that is recognized around the world, with 486,000 students and 200,000 members worldwide across 181 countries.
Once you qualify, ACCA membership can open the door to a successful career in finance or accountancy and will increase your earning potential. It is highly regarded in the fields of banking, management, and consulting, and provides a major advantage in competing for senior roles around the world.