Friday, November 12, 2010

Experiences of Immigrant Indian CAs

The Experiences of Immigrant Indian
Chartered Accountants in Canada
Analysis of Survey Results
October 5, 2010
By
Dr. Marcia Annisette
Associate Professor, Accounting Department
Schulich School of Business
Dr. V. Umashanker Trivedi
Associate Professor, Accounting Area
Schulich School of Business


Acknowledgements: The authors gratefully acknowledge the support provided by the Toronto
chapter of the Institute of Chartered Accountants of India by encouraging their members to
participate in our survey
Terms for Using Materials from this Report: Use in any research material/publication without
obtaining prior permission of the authors is strictly prohibited. All other use of any portion of
this report should be accompanied by appropriate credit to the authors.


TABLE OF CONTENTS
Page Number
Executive Summary 3
Some of Our Key Findings 4
Other Important Findings in Our Study 5
Survey Results (Tables and Charts)
Demographic Information 6
Qualifications and Work Experience before Coming to Canada 7
Reasons for and Preparation Relating to Decision to Come to Canada 9
Upon Arrival in Canada 13
Canada Till Today 19
Opinion about Market for and Success of Foreign Accountants in Canada 24


EXECUTIVE SUMMARY
The accounting profession in Canada has continued to experience a shortage of qualified
accountants for well over a decade now. In fact, because of this shortage, the Canadian High
Commission in India gave an advertisement in 1996 in The Chartered Accountant, the official
journal of the Institute of Chartered Accountants of India, inviting qualified accountants to apply
for immigration to Canada. However, no data exists on how immigrant accountants fare once
they land in Canada. The answer to this question is especially important for accountants from
India since they typically constitute the vast majority of accountants who immigrated to Canada
in the recent past. Our survey of Indian CAs in Canada attempts to answer, among other
questions, the following important questions:
· Why do Indian chartered accountants decide to immigrate to Canada?
· What are the common characteristics of an immigrant Indian CA in Canada?
· How have immigrant Indian CAs fared in Canada?
· What are the factors associated with or impediments to the success of Indian CAs in
Canada?
A total of 134 immigrant Indian chartered accountants in Canada responded to our online survey
during the early part of 2010. The 134 responders did not provide their responses to all the
questions in the survey. The minimum number of responders to any question answerable by all is
115. The analysis in this report is based on the actual responses for each question and is
presented mostly in percentage form. A fuller analysis of the survey will be presented by us in
future research papers/reports.
The average age of our respondents is 45. While 10 of our respondents are female, the remaining
124 are male. More than 85% of our respondents possess an undergraduate or graduate degree.
The following important conclusions can be drawn from our survey:
· There is considerable variation in the success achieved by Indian CAs in Canada.
· The average Indian CA in Canada earns considerably higher than the average Canadian but
earns considerably less than the average Canadian CA.
· There is significant devaluation of the accounting credentials and work experience of Indian
CAs in Canada, starting at the time of their arrival in Canada and continuing till date.
· The vast majority of Indian CAs in Canada was happier with their career progress outside
Canada than they are with their career progress in Canada.
· The vast majority of Indian CAs believes that foreign born accountants are not paid the same
as Canadian born accountants for performing similar work.


SOME OF OUR KEY FINDIINGS
· While the rough annual average salary of responders in their last year of employment
prior to coming to Canada was $50,000, the rough annual average salary of responders in
their first year of employment after coming to Canada dropped to $37,500. The current
(2010) rough annual average salary of responders is $105,000. In comparison, according
to the CICA’s 2009 CA profession compensation survey, the average salary of a
Canadian Chartered Accountant is approximately $186,000 (the median being
approximately $127,000).1
· Most respondents indicate that they currently hold permanent full-time positions (86%).
Around 70% of respondents work in the for-profit sector, with more than 50% working
for multinational or national companies.
· Fully 73% of respondents feel that their first job was not appropriate considering their
qualifications and experience at the time of their arrival in Canada. Further, only 52% of
respondents feel that their current job is appropriate and sufficiently recognizes their
current qualification and experience.
· More than 90% of the respondents feel that persons with foreign credentials/designations
are not given appropriate and adequate recognition in Canada.
· More than 80% of responders feel that foreign born accounting professionals are not paid
the same as local born professionals for performing similar work.
· A better life, children’s future including their education, and better career prospects are
the most important reasons for Indian CAs to immigrate to Canada.
· An overwhelming majority of the respondents indicate that they did not acquire any
additional academic training or professional designations specifically for the purpose of
immigrating to Canada. However, more than 70 percent of responders indicate that they
obtained additional professional designations after their arrival in Canada.
· 71% of respondents indicate that it took them six or less months to secure their first
accounting job.
· More than 80% of respondents feel that obtaining Canadian credentials/designations and
Canadian work experience are important, very important or vitally important for a foreign
immigrant to succeed in Canada.





!
"# $
%

OTHER IMPORTANT FINDINGS IN OUR STUDY
· On average our respondents possessed 12 years of work experience as qualified
accountants prior to their arrival in Canada. Thus, on average an Indian CA immigrating
to Canada did so in his/her mid to late thirties.
· More than 60% of the respondents worked in one or more countries other than India prior
to their arrival in Canada. Middle Eastern and African countries were the most popular
foreign countries where Indian CAs worked prior to coming to Canada.
· While 45% of respondents came to Canada during the 2001-2005 period, 27% came
during the 1996-2000 period. A further 14% came during the 2006-2010 period.
· Almost 45% of responders indicate that they had very low to low knowledge of the
market for accounting professionals in Canada prior to their arrival.
· While 128 responders indicated that they are or have been employed in Canada at some
point of time after their arrival in Canada, only six indicated that they have never been
employed in Canada.
· On arrival in Canada, Indian CAs sought and obtained help mostly from friends, head
hunters and fellow accountants from India. Only a very small minority sought and a still
further smaller minority obtained assistance from an accounting association/local chapter
of the institute.
· Approximately 61% of respondents indicated that they did not try to secure employment
prior to arrival in Canada. Of those who tried to secure employment prior to arrival in
Canada only 14 were successful in actually securing a job.
#

SURVEY RESULTS
Demographic Information:
1. Age:
Mean 45.04
Median 44.50
Minimum 28
Maximum 71
2. Gender:
Count
Female 10
Male 124
Total 134
3. Country of Birth:
Count
India 133
Singapore 1
Total 134
"

Qualifications and Work Experience before Coming to Canada:
4. All professional designations earned by the 134 respondents prior to arrival in Canada:
Count
Chartered Accountant-India 134
Cost Accountant-India 17
Company Secretary—India 14
CISA 14
Certified Public Accountant (9 clearly mentioned as from USA) 13
Chartered Accountant-Other than India 6
Certified Internal Auditor 7
Certified Management Accountant 4
Bachelor of Law 4
CGA-Canada 2
Other designations 12
Total 227
5. Did you work in any country other than India prior to your arrival in Canada?
Percentage
No 38.06
Yes 61.94
Total 100.00
&

6. Were you happy with your career outside Canada prior to your move here?
Percentage
Yes 84.33
No 15.67
Total 100.00
'

Reasons for and Preparation Relating to Decision to Come to Canada:
7. Why did you decide to come to Canada (choose all applicable alternatives)?
Percentage
For a better life 38.43
For our children's future including education 27.95
For better career prospects 22.71
Other family members were already in Canada 3.93
Many of our friends were already in Canada 3.49
Adventure 0.87
Marriage 0.87
Did not obtain green card in USA 0.87
Personal 0.44
Don't know why, still wondering! 0.44
Total 100.00


8. Did you try to secure an accounting position/employment in Canada prior to your arrival
here?
Percentage
No 60.45
Yes 39.55
Total 100.00
9. Prior to your arrival in Canada, did you obtain additional academic training (other than
professional designations) specifically for the purpose of immigrating to Canada?
Count Percentage
No 125 93.28
Yes 9 6.72
Total 134 100.00
10. Nature of the additional training obtained prior to immigration to Canada:
Count
Computer & software courses including SAP and Oracle 7
French 4
Other training through immigration agencies 1
Total 12


11. Did you obtain additional professional designations prior to your arrival in Canada
specifically for the purpose of immigrating to Canada?
Percentage
No 88.81
Yes 11.19
Total 100.00
12. Additional designations obtained prior to immigration to Canada:
Count
CPA (USA) 8
CISA 3
CFA 2
CIA 2
CIMA, UK 1
CMA 1
Other 1
Total 18


13. During the immigration process, did any Canadian governmental or non-profit organization
either provide you with information relating to the Canadian accounting job market/job
avenues or help you in securing an accounting job?
Percentage
No 92.54
Yes 7.46
Total 100.00


Upon Arrival in Canada:
14. Period of arrival in Canada:
Percentage
Prior to the 70s 0.75
During the 70s 0.00
During the 80s 6.72
1990-1995 5.97
1996-2000 26.87
2001-2005 45.52
2006-2010 14.18
Total 100.00


15. On arrival in Canada who of the following did you approach in your search for employment
(choose all applicable)?
Percentage
Head hunter(s) 33.67
Friends 29.00
Fellow accountants from India 17.33
Government/Quasi-government agency 7.00
Accounting association/local chapter of institute 5.67
No one 7.33
Total 100.00
16. Have you been employed in Canada so far?
Count Percentage
No 6 4.48
Yes 128 95.52
Toronto 134 100.00
%

17. Annual income in the first year after arriving in Canada?
Percentage
Less than $50,000 73.02
$50,001 to $75,000 19.84
$75,001 to $100,000 5.56
$100,001 to $150,000 1.59
$150,001 to $200,000 0.00
Above $200,000 0.00
Total 100.00
Rough average annual income in first year after arriving in Canada:* $37,500
*Mid-point of each range used to calculate average.
#

18. In your opinion, were the first job(s) secured by you in Canada appropriate given your
educational and experience background at the time of your arrival in Canada?
Percentage
No 72.66
Yes 27.34
Total 100.00
"

Canada Till Today:
19. Nature of current employment:
Percentage
Accountant/Accounting/Budgets/Controller/Fin. Reporting/Tax 32.84
Bookkeeper 0.75
Banking/Capital Markets/CFO/Finance/Financial Analyst 14.93
Consultant IT 2.24
Consultant Management/Implementation/Risk 2.24
External Auditor 7.46
Financial Advice/Public Accounting/Self Employed/Tax Prep. 9.70
Internal Auditor 11.94
Management 4.48
Manager Operational Risk/Project 2.24
Not Currently Employed 5.97
None 0.75
Not Provided 4.48
Total 100.00
20. Industry Sector of Current Position:
Percentage
Banking or financial sector 27.50
Accounting services including public accounting 15.83
Manufacturing sector 13.33
Government 10.83
Service industry including payroll processing, collection agency, travel 5.83
Technology/Telecommunication/Software 5.00
Business/Management consulting 3.33
Utilities including electric generation and distribution 3.33
Construction/Real estate/Parking maintenance 3.33
Health services 1.67
Engineering/Engineering services 1.67
Marine services/Marine transportation 1.67
Other 6.67
Total 100.00
&

21. Type of current employer:
Percentage
A multi-national for-profit company 34.17
A national for-profit company 20.83
A local for-profit company 15.00
The public sector 15.00
Myself, I am self-employed 10.00
A non-governmental not-for-profit organization 1.67
Our family business 0.00
Not applicable 3.33
Total 100.00
22. Nature of current work:
Percentage
Permanent full-time 86.67
Contract full-time 6.67
Permanent part-time 3.33
Contract part-time 3.33
Total 100.00
'

23. Did you obtain additional professional designations after you arrived in Canada?
Percentage
No 29.10
Yes 70.90
Total 100.00


24. If you obtained a Canadian or North American accounting designation, did the acquisition of
such a designation significantly increase/improve your accounting knowledge as compared to
your existing accounting knowledge?
Percentage
No 69.47
Yes 30.53
Total 100.00


25. In your opinion, is your present or recently held job(s) appropriate given your present
qualification and experience and does it sufficiently recognize your present qualification &
experience?
Percentage
No 47.66
Yes 52.34
Total 100.00


26. In your opinion which of the following are the real reasons why accounting positions were
not offered to you (choose all which apply)?
Percentage
Failure to recognize my foreign qualification 43.29
Lack of Canadian experience 24.24
Overqualified 10.82
Other reason 6.06
Language issues 3.03
Not a fit for the job 3.03
Not applicable 9.52
Total 100


27. Are you happy with your career progress in Canada?
Percentage
Yes 50.75
No 49.25
Total 100.00


Opinion about Market for and Success of Foreign Accountants in Canada
28. In your opinion, are persons with foreign credentials/designations given appropriate and
adequate recognition in Canada?
Percentage
No 91.79
Yes 8.21
Total 100.00
%

29. In your opinion are foreign born accounting professionals paid the same as local born
professionals for performing similar work?
Percentage
No 82.09
Yes 17.91
Total 100.00
#

30. In your opinion, for a foreign immigrant to succeed in their career in Canada, how important
is obtaining appropriate Canadian credentials/designations?
Percentage
Not important at all 4.48
Somewhat important 16.42
Important 14.18
Very important 29.85
Vitally important 35.07
Total 100.00
"

31. In your opinion, for a foreign immigrant to succeed in their career in Canada, how important
is obtaining appropriate and adequate Canadian experience?
Percentage
Not important at all 4.48
Somewhat important 13.43
Important 21.64
Very important 29.85
Vitally important 30.60
Total 100.00

Wednesday, November 10, 2010

Possible interview questions

Hello Friends

I am listing below a few questions that are asked in interviews here. These are behavioral questions and it is advisable to rehearse some answers to these. They may or may not be asked, but this is a good guide to what can be expected:

GENERAL
1. What made you apply for this position>
2. Can you summarize or give examples of your leadership skills/abilities/experiences?
3. What strength(s)/weaknesses will you bring to this role?
4. What aspect of you current role do you dislike the most?
5. What aspect of you current role do you like the most?
6. Tell about a time when you found yourself in a situation where you had difficulty dealing
with a team member. How did you handle this? What was the result?
7. If your co-workers had to describe your work-ethic, what would they say?
8. What motivates you to pull yourself from you bed and come to work?
9. Describe you ideal work environment and why?

ADAPTABILITY
10. Describe a time when you altered your own behaviour to fit the situation.
11. Tell about a time when had to change your point of view or your plans to take into account
new information or changing priorities.

CLIENT FOCUS
12. Describe a situation in which you acted as an advocate within your organization for your stakeholder’s needs, where there was some organizational resistance to be overcome.
COMMUNICATION
13. Give an example of a difficult or sensitive situation that required extensive communication.
14. Tell about a time when you really had to pay attention to what someone else was saying , actively seeking to understand their message .

ORGANIZATIONAL AWARENESS
15. Describe the culture of you organization and give and example of how you work within this culture to achieve a goal.
16. Describe the things you consider and the steps you take in assessing the viability of new idea or
initiative.

PROBLEM SOLVING AND JUDGEMENT
17. Tell about a time when you had to identify the underlying causes to a problem.

RESULTS ORIENTATION
18. Tell about a time when you set and achieved a goal.
19. Describe something you have done to improve the performance of your work unit.
20. Describe something you have done to maximize or improve the use of resources beyond your own work unit to achieve improved results.

TEAMWORK
21. Describe a situation where you were successful in getting people to work together effectively.
22. Describe a situation in which you were a member (not a leader) of a team, and a conflict arose within the team. What did you do?

DEVELOPING OTHERS
23. Give an example of a time when you recognized that a member of your team had a performance difficulty/deficiency. What did you do?

IMPACT AND INFLUENCE
24. Describe a time when you went through a series of steps to influence an individual or a group on an important issue.

LEADERSHIP
25. Describe a situation where you had to ensure that you “actions spoke louder than your words” to a team.
26. Describe a situation where you inspired others to meet a common goal.

RELATIONSHIP BUILDING
27. Give me an example of a time when you deliberately attempted to build a rapport with a co-worker or customer.

SELF-MANAGEMENT
28. Describe a time when things didn’t turn out as you had planned and you had to analyze the situation to address the issue.
29. Describe a time when you were in a high pressure situation?

STRATEGIC THINKING
30. Describe a time when you used your business knowledge to understand a specific business situation.

Thursday, October 21, 2010

Some job openings in Toronto

From: Lisa George [mailto:lgeorge@aplin.com]
Sent: 2010, October, 13 3:34 PM
To: Widge, Ajay
Subject: OPen Opportunities

Good Afternoon Ajay

Please review the open opportunities I am currently working on. Let me know if you are interested or if you know of anyone that would be. Please contact me for further details

Job #206484-MH426
Job Title: Account Manager/Fund Accountant
Location: Toronto, ON



Our client one of the worlds leading hedge fund administrators is looking for a Hedge Fund Accountant to join their team in the downtown Toronto core.

Responsibilities:
•Managing a number of client relationships
•Maintaining the share register for these client’s funds
•Providing Banking Services for these clients
•Provide Register Offices Services for the funds
•Preparation of NAV and financial statements for a portfolio of Funds
•Liaise with auditors including preparation of accounts and supporting schedules
•Ensures first line of review and validation procedures are completed

Qualifications:
• Must have least 2 yrs prior exp in a fund administration role on Single Manager funds
• Must have in depth knowledge of complex instruments, Geneva accounting systems
• Knowledge of Wall Street Office application a plus
• Must have strong client relationship experience and excellent communication skills
• Flexibility to work under pressure and the ability to meet the requirements due to strict time-lines with strong organizational skills
• Completion of the Canadian Securities Course is an asset

Senior Consultant: Lisa George
Reference Number: MH206484

Job #206392-MH426
Job Title: Credit Administrator
Location: Toronto, ON



Credit Administrator – Toronto, ON – 51K - 60K

Summary:
The Credit administrator will be in charge of organizing the credit process and ensure all procedures and policies are maintained. Track and manage confidential documents. Assist with management for the credit process.

Duties:
• Reporting risk information
• Assist with daily administrative tasks; input/review files, data integrity, tables and charts.
• Issues commitment letters for approval.
• Assist Mortgage underwriters with administrative tasks.
• Review documents for better efficiency and suggest improvements to organize credit process.
• Work with Mortgage Administration staff with respect to loan/mortgage files, new closes or renewals.
• Improve customer service with reducing turnaround time for Mortgage Renewals.
• Document Compliance review of Loan/Mortgage files, and al Mortgage Renewal Notices.

Qualifications/Requirements:
• College or University degree in Business Administration/Law or Real Estate.
• Minimum 5 years with Real Estate/Lending and Mortgage administration experience.
• 5-8 years experience in Real Estate Law/Agency or Mortgage Broker environment.
• Strong understanding of real/mortgage property “transactions.
• Expertise in comingling information, create graphs, tables records and reports.
• Superior leadership skills and excellent coaching/mentoring.
• Problem solver and great communicator and organized.
• Experience with summarizing and reviewing legal loan documents.
• Can work under pressure in fats paced high volume environment
• Team-oriented.
• Self motivated and can prioritize to execute tasks on short notice.
• Analytical and attention to detail.

Senior Consultant: Lisa George

Reference Number:MH206392

Job #206757-MH426
Job Title: Operatons Accounting Analyst
Location: Toronto, ON



The Operations Accounting Analyst works closely with the Director of Operational Finance with the preparation, analysis and maintenance of standard costs and the development of the annual operating budget and forecasts. This position also provides key support in preparation and analysis of month end results and in project work as required

Responsibilities:
• Prepare and analyze month end operating results. Work closely with plant Finance in a supporting role to ensure all accounting transactions and shop floor information is entered into SAP on time and accurately.
• Review and validate monthly manufacturing variances versus standard costs and provide explanations to Director of Operational Finance. Prepare month end reporting package of operating results for senior management.
• Provide support to Operations management with timely, value-added analysis of manufacturing costs and progress on cost reduction initiatives with a focus on identification and analysis of plant operating issues.
• Fully leverage SAP reporting and functionality to facilitate development of annual operating budgets, forecasts and month end close process.
• Provide support to Marketing and R&D personnel in development of standard costs for new products.

Qualifications:
• Post secondary education in Accounting, or a related discipline, plus a recognized professional accounting designation (CMA, CGA, CA)
• Minimum five (5) years experience in costing and general operations accounting including 3-5 years experience in a manufacturing and costing role
• Experience in a dairy processing environment an asset
• Experience in SAP or other ERP system an asset
• Excellent analytical, communication & interpersonal skills
• A Team player with strong problem solving and decision making skills
• Ability to work independently under tight deadline
• Ability to multi-task and adapt in a fast-paced changing environment
• Strong Microsoft Excel skills

Senior Consultant: Lisa George
Reference Number: MH206757

Job #206497-MH426
Job Title: Regional Tax Manager
Location: Toronto, On



Department

Job Description:

This position reports directly to the National Manager, Tax & Business Advisory Services, and is responsible for the overall management, leadership, and financial results of the relevant TBAS office. Directly reporting to this position are all of the full-time and part-time staff in the office, although day-to-day direction on work flow and file activity may be assigned to others. The Regional Manager is a recognized tax and trust expert, knowledgeable in all areas of personal, trust, and small business corporation taxation, and is capable of making independent decisions on the management of specific client files, including deciding whether assessments and reassessments should be appealed. He or she is also adept at providing detailed tax and trust advice, as well as making presentations on tax and related topics to internal partners, as well as making external (client, prospective client, and professional or industry association) presentations.

Specific accountabilities include:

Overall responsibility for managing an efficient and profitable office

Achieving financial goals of office

Developing and executing on a regional growth strategy

Working with the National Manager, Tax & Business Advisory Services, and the other Regional Managers in continuing to explore ways to increase profitability, reduce risk, and enhance the client and employee experience

Working with the management teams of the Private Client Service Centres in the relevant region in the development and execution of a regional market place strategy

Effectively managing staff in office

Determining required staffing levels and making recommendations to the National Manager, Tax & Business Advisory Services

Ensuring there is a robust PP&D process in his or her office

Staff succession planning

Developing and maintaining good working relationships with the PT branches, PCS and Wealth partners in his or her region, including making visits to each PT branch within his or her region at least once a year

Ensuring effective resolution of issues

Attending "deal team" meetings in local office and in region as requested

Staying abreast of tax and trust developments

Conducting detailed research on complicated tax matters

Reviewing and deciding upon the TBAS Manager’s tax appeal/non-appeal recommendations on assessments and reassessments

Conducting high-level client meetings

Tax planning on more complicated client files

Working with external lawyers and accountants on more complicated tax compliance matters, corporate reorganizations, wind-ups and liquidations, incorporations, estate freezes, "purifications", and the valuation and sale of private business interests, and business succession planning for corporations held in trust

Interacting with the CRA and provincial tax authorities on high-level tax compliance matters

Making external (client, prospective client, and professional or industry association) presentations in his or her region

Education/Accreditations:

Accounting designation (CA, CMA, CGA)

CICA In-depth Tax course, or equivalent

Other Qualifications/Skills/Experience:

Superior management, organizational, and communication skills

A recognized leader and team builder

Strong technical skills

Expert level knowledge of trust and estate, personal, and small-business corporation tax law and related tax compliance requirements

Substantial knowledge of trust and estate law and practice

Demonstrated ability to make presentations to both internal and external audiences and write articles on technical matters

An understanding of small-business and owner-manager financial planning, financial reporting, and small business practices, as well as a general understanding of cross-border US income and estate tax matters would be an asset

Job #206588-MH426
Job Title: Senior Accountant/Analyst
Location: MISSISSAUGA, ON



Our client, located in Mississauga is looking for someone to assist them with a project – This is a contract position for 2 months. This includes creating and keeping a daily tracker of Project progress and daily feedback to the Controller on Project status and next steps remaining to completion

Responsibilities:
Working closely with the Controller on 3 projects Fixed Assets, Budgeting and updating SAP.
Superior organizational, communication, initiative and presentation skills
Very detail oriented have initiative on providing feedback (reporting) on Project status via summary report updates

Qualifications:
Strong accounting and analytical skills
Demonstrated ability to manage a project from start to finish
Advanced skills for MS Excel (they will be tested)
Excellent knowledge of SAP (over 3 years experience - they will be tested)
Accounting Designation (CMA, CGA) or in the final stages

Senior Consultant: Lisa George
Reference Number: MH206588

Job #206486-MH426
Job Title: Senior Financial Advisor
Location: Toronto, ON



Reporting to the respective regional head of sales the Senior Financial Advisor is responsible and accountable for attracting assets from high net worth individuals and building a profitable business and client base consistent with the vision, mission and strategy of Management. The candidate must be willing to work within a collegial team environment whilst striving to meet individual targets.

Requirements:
• Built and maintained a network of High Net Worth individuals
• Minimum of 3 years developing and advising a wealth management clientele, preferable HNW clients (greater than $2 million in investable assets)
• Provided counsel and resolved HNW client issues related to tax or estate planning, investments, insurance or banking, investment banking
• Extensive sales, marketing & relationship management experience in an alternate industry will be considered

Education:
• Relevant undergraduate degree (BA Economics, Finance, Business Administration, etc.) and possibly post-graduate degree (MBA, LLB, etc.), as well as additional technical training
• Registered Investment Counselor/Portfolio Manager (if not currently registered, must complete the requirements to become registered within 12 to 18 months of hire date)
• Canadian Securities Course & Certified Investment Management
• Chartered Financial Analyst (CFA) Designation (minimum level 1)
• Certified Financial Planning (CFP) designation (optional).

Senior Consultant: Lisa George
Reference Number: MH 206486

Lisa George
Senior Consultant – Accounting & Finance

DAVID APLIN RECRUITING
Phone: 905-566-9700 ext 341

Toronto Line: 416-915-4113
Fax: 905-566-9982
Email: lgeorge@aplin.com
Web: aplin.com

Wednesday, June 23, 2010

Information on equivalence certification by CGA

Thanks to Devi Sarojini who has kindly shared the following information on the procedure for equivalence certification:

The following are the documents needed by CGA for transfer credits:-

1. Detailed Resume
2. Letter of good standing from Institute of Chartered Accountants of India.
3. Sealed transcripts from Institute of Chartered Accountants of India.
4. Application form for transfer credits.
The fees for transfer credits is $ 355+ HST if we apply after July 1,2010.

You can see the following link for any further details
http://www.cga-ontario.org/Prospective_Students/Becoming_a_CGA/Transfer_Credits.aspx

Transfer Credit Evaluation Report will be send in 20-25 business days.

Sunday, June 13, 2010

Update for foreign trained accountants

I am regularly contacted by foreign trained accounting professionals who have immigrated and are looking for their first break in Canada. The dual whammy is no Canadian experience and no Canadian education. While nothing can be done for the work experience, the education can certainly be managed.

The best way is to get the accounting designation evaluated by the CGA and add the level of exemption to the resume. This helps in breaking down the barrier and opening the all important door to the first interview and hopefully a temp / contract / full time job. This is one of the best $450 odd that you can spend, as this money is recovered within the first week of employment and you can start off on your new life that bit sooner. The fact that this is an equivalence is not relevant and can be disclosed during the interview; I assure you that there is no illegality involved as there is full and complete disclosure in the resume as well as during the interview.

The fact is that all resumes are stored in a data base and retrieved based on key search words. Getting the resume before the hiring manager is all important, hence the reference to CGA is very very important.

I say this from personal experience as I struggled for four months before receiving this advise and got my first break in the shape of a temp job within a week! So, please don't look at the cost, instead focus on getting into the work force and start getting the all important Canadian experience.

Regards.

Sunday, May 23, 2010

Canada Calling

Introduction

I am writing this blog to share my experiences with other new immigrants to Canada. Many people before me (and many more after me) have had similar experiences; some of us chose to take their lessons learnt and share them with others in order to ease their lives and to give them a better and faster start in their new lives. The provincial governments have started a number of programs aimed at new immigrants where they provide support and guidance on the job search and to familiarize them with the culture and customs here. Life is very different here from what we all are used to back home and the sooner we all learn that, the faster we will start to fully enjoy and appreciate the facilities and benefits that Canada offers.

Because money makes the mare go (and pays the bills) and money needs to be earned, the one biggest hurdle for new immigrants is getting a meaningful job, preferably in their chosen field of endeavor. Immigrants face two hurdles:

a. Lack of Canadian experience
b. Lack of Canadian education

The former is a bigger challenge as it turns into a Catch 22 situation … if you can’t get a job upon arrival, how can you get Canadian experience? Most hiring managers seem oblivious to this simple fact and no amount of logical argument seems to work.

A very basic fact is that immigrants (here I am referring to economic class immigrants, as refugees have very different issues that I have no experience with and can’t comment on) have taken this huge leap of faith by leaving their comfort zone and careers and landed in a strange place with just their skills and a tremendous level of self confidence. They are successful professionals in their home countries and they are sure that they can be successful here too. This fact eludes most hiring managers and they view all resumes with the same rose tinted glasses. Call it what you will, it is the result of lack of exposure to International work cultures and education. Fortunately, that is changing (albeit slowly) and increasing numbers of immigrants are reaching hiring manager roles.

The euphoria begins to wear off once the legal formalities are completed, the touristy things are done and the first resumes sent out with the conviction of landing the dream job. This is where reality strikes and the stress begins to rise.

The job search
At the outset, let me say that there is no one winning strategy to conducting a job search in Canada; this needs to be a “full court press” and needs to be well thought out and strategized.

Mistakes made

The key mistakes made by job searchers are:

1. Not taking the time to understand that the work culture here is very different than from back home. This is a key stumbling block and people get frustrated and de-motivated when they don’t find people responding in a manner they expect and are used to in their native places. People appear cold and unresponsive and resumes seem to go into a black hole, never to return.
2. Not taking the time to prepare an effective resume that conveys their skills and experiences in a meaningful way that is expected by the readers here.
3. Not fully utilizing the resources that are available to job seekers by various agencies. Most are available locally and offer a very extensive menu of services aimed at getting people working and productive. These services usually include help with resume drafting, coaching on interview skills (including holding mock interviews), workshops on Canadian work environment, etc.
4. Not focusing on developing their soft skills, instead focusing on strengthening their technical skills. This is a key mistake, as the Asian and even European work culture places a very high premium on technical skills; being good at your work ensures steady progression in the career. In Canada, the opposite is true; soft skills (communication, public speaking, leadership, etc.) are given equal importance to technical skills and we have a number of people in leadership roles that are missing the technical skills required. Back home, this would be unthinkable, but here it happens all the time.
5. Not getting their education evaluated for equivalence in Canada.
6. Not utilizing professional and social networks.

Strategies

So having seen the mistakes, how can a new immigrant overcome these hurdles and get a job (any job to start with)? The obvious starting point is to avoid making the mistakes listed above … but specifically, the following tips are helpful:

1. Networking will really get you places … having your resume reach the hiring manager is key! If your resume lands on the HR desk, it is lost with out trace. They are swamped with thousands of resumes each day and can’t possibly read them all. They are very carefully stored on a database and resurface only when they contain a key work. Even then they are likely to be rejected because of lack of Canadian experience or education. The whole world my have heard about the IIT’s, but not necessarily the resume reviewers. If your resume can land on the desk of the hiring manager, they have a much better idea of the education and work experience that you bring, plus they place a lot of value on the fact that a colleague has referred the document. Frankly, I can’t stress this point enough … most employers prefer referred resumes over the other kind and even reward the referrer if the candidate is hired.
2. Use key words in your resume; this will ensure that your resume surfaces from the deep depths of the HR database and actually gets some attention.
3. Tailor your resume for the job opportunity; this does not mean fabricating stuff, just bringing the desired experiences up front and inserting the key words in the job description into the document so that the reader can connect with it.

I have found the following to be excellent sources of job opportunities:

1. Personal contacts and network. I can’t stress enough the importance of this.
2. Job sites like Workopolis.com
3. Websites of hiring companies
4. Temp agencies like Accountemps, Adecco, Man Power, People Bank, etc.

There is a lot of hard work and sweat involved and a large dollop of luck; but perseverance pays off and the reward is a rich and rewarding work and personal life in Canada.

I will share more experiences over time; please feel free to mail me at ajay.widge@gmail.com and I will be glad to share my knowledge. I have also added a power point presentation prepared by the Ontario government for guiding new immigrants, so feel free to refer to it.