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US CMA, eligible to challenge CPA PEP exams?

  • Last Updated:
  • Mar 3rd, 2017 5:09 pm
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[OP]
Newbie
Feb 27, 2017
5 posts

US CMA, eligible to challenge CPA PEP exams?

Hi, I have an US CMA cert (in addition to MSc in BA/Finance) and thus were able to skip directly into the CPA PEP program, my understanding is that I should be able to challenge the PEP exams directly? I do not have that option when registering though, It seems that I have to take the very expensive modules. CPA Ontario helpdesk and registrar and slow and unhelpful when asking so I thought I ask you guys and gals.
8 replies
Deal Addict
User avatar
May 23, 2010
1754 posts
258 upvotes
You need the 51 credit hour/legacy CA courses to challenge the exams. Did you complete your undergrad education in the US? It appears that your transcript was already assessed. While you got all the courses required for PEP entry, the assessment team determined that you did not have all equivalent courses to challenge exams.

No one can really vouch for you especially online unless they work in the transcript assessment team. This is merely an assumption from what I am seeing.
[OP]
Newbie
Feb 27, 2017
5 posts
Hi,
No, I have an European Msc, equivalent to a Canadian Master's according to WES assessment. Looking at the the content of the 51 hours, going by CPA Ontario's web site, the only credit I might be missing is tax, is there a way to supplement that after graduating?
Thanks
Deal Addict
Feb 14, 2016
1706 posts
1131 upvotes
why do u want to pursue Canadian CPA? are you particularly interested in auditing?

I would've thought you would be more into industry as CMA,in which case experience is what really matters not Canadian CPA, which is I think is less versatile than the American designation; just curious
[OP]
Newbie
Feb 27, 2017
5 posts
Nope, only reason is that the Can CPA seems to be the only recognizable certification (besides CFA, but that's finance) in TO. I would be the happiest person if someone could prove me wrong!
Deal Addict
Oct 16, 2013
2315 posts
665 upvotes
New Brunswick
JIB9022 wrote: why do u want to pursue Canadian CPA? are you particularly interested in auditing?

I would've thought you would be more into industry as CMA,in which case experience is what really matters not Canadian CPA, which is I think is less versatile than the American designation; just curious
I know a few US CMA and their designations aren't really reconcile here.
[OP]
Newbie
Feb 27, 2017
5 posts
I've never had anyone ask me what it is, but never have gotten an interview explicitly because of the CMA either.
My goal is to work as an fp&a analyst doing sql and excel all day, I'm not really interested in accounting but i signed up (CPA) because at the time it seemed like a necessity for get a job in TO.
Deal Addict
Feb 14, 2016
1706 posts
1131 upvotes
Predolmoni wrote: I've never had anyone ask me what it is, but never have gotten an interview explicitly because of the CMA either.
My goal is to work as an fp&a analyst doing sql and excel all day, I'm not really interested in accounting but i signed up (CPA) because at the time it seemed like a necessity for get a job in TO.
I'm pretty sure its not ur US CMA thats preventing you from getting the interview;
I was thinking companies wouldn't even able to tell CMA canada from CMA US anyways
I know plenty of US CPAs working in Canada, I was thinking CMA (US) would be even better than CMA (CDN) just cuz there are more US affiliated companies
Deal Addict
Oct 16, 2013
2315 posts
665 upvotes
New Brunswick
JIB9022 wrote: I'm pretty sure its not ur US CMA thats preventing you from getting the interview;
I was thinking companies wouldn't even able to tell CMA canada from CMA US anyways
I know plenty of US CPAs working in Canada, I was thinking CMA (US) would be even better than CMA (CDN) just cuz there are more US affiliated companies
One can tell a Canadian CMA from an US CMA. The Canadian CMA has title of CPA, CMA. Most Canadian companies don't really value foreign des/ education.

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