The SPAC offers two accounting designations
The RPA designation is offer by The Society of Professional Accountants of Canada. For the RPA designation, students don’t need to have a university degree. RPA provides accounting knowledge through its comprehensive prerequisite courses offered by community colleges. An RPA can do any job that a CPA can do except Audit and Review Engagements. The SPAC issues and manages the RPA designation.
The APA designation (Accredited Professional Accountant) is an honorary fellowship designation granted to those who have been RPA for at least 10 years and with a particular distinction in accounting or public service.
The Registered Professional Accountant is an accounting designation offered by The Society of Professional Accountants of Canada.
RPA’s are qualified as a professional accountant and recognized for excellence and maintaining high standards. With the RPA designation, you can prepare financial statements for the management as an employee and for your business clients as a practitioner.
The RPA study program is specifically tailored to provide the students with the expertise to analyze financial information which will give you the confidence to take on a leadership role in Small and Medium-Sized Enterprise (SME). RPA will meet the needs of employers in all sectors of the Canadian economy.
2. How can I become an RPA?
For a High School graduate, a student can register for RPA prerequisite courses that are offered in-class by community college i.e. Sheridan College. After completing the prerequisite courses student can register with The SPAC for RPA designation to write the Mandatory Professional Exams (MPE). After passing MPE and with 2 years of practical accounting experience students will be awarded the RPA designation.
3. What will I get when I finish RPA program?
You will receive a certificate from The Society of Professional Accountants of Canada on the successful completion of the program.
Earning the RPA proves to employers that you have the applied technical and soft skills needed to make you a valuable asset in the workplace.
RPAs in professional practice will have recognition from business owners and shareholders of SME.
4. What are the RPA fees? What benefits are covered under the RPA fees?
Students taking RPA prerequisite courses offered by the Community Colleges i.e. Sheridan College pay course fees to the college.
Students will pay $200.00 plus HST for an application fee, a fee for RPA Mandatory Professional Examination offered by the SPAC is $450.00 plus HST per subject. There is also a $25.00 Course Exemption fee per subject for prerequisite courses.
5. What is the difference between the CPA and RPA designation?
Chartered Professional Accountant designation is awarded by CPA Ontario to qualified accountants. To obtain the CPA designation students must have a university degree and go through the expensive training and examination process. The only difference is that CPA grants LPA (License Public Accountant) required to sign the Audited or Review Engagement Reports. Every CPA is not LPA with this privilege.
Registered Professional Accountant designation offered by The Society of Professional Accountants of Canada. For the RPA designation, students don’t need to have a university degree. RPA provides accounting knowledge through its comprehensive prerequisite courses offered by community colleges after completing prerequisite courses student writes a competency exam (Mandatory Professional Exam) to obtain RPA designation. An RPA can do any job that a CPA can do except Audit and Review Engagements.