Becoming a Registered Professional Accountant
Whether you are exploring new career opportunities, want to be acknowledged for your financial expertise, or are looking to keep pace in a rapidly changing world, becoming a Registered Professional Accountant is a solid academic and professional choice. By completing the Society’s course requisites through an accredited post-secondary institution and then successfully completing the Mandatory Professional Exam (MPE), you can earn the RPA professional designation to set you apart from the crowd and help to achieve your career goals!
Registered Professional Accountants are leaders in a multitude of companies and industries. RPAs hold leadership roles in small to mid-sized businesses, valued roles in large corporate enterprises, or have taken an entrepreneurial route and have become owners in their own accounting practices.
RPA’s requisite core courses are focused on 5 areas:
Successful completion of these courses is a prerequisite to participating in the Professional Review Program or attempting the final Mandatory Professional Exam. You will receive full RPA membership after passing the Mandatory Professional Examination (MPE) and completing the prescribed experience requirement.
Registered Professional Accountant (RPA) – Program Description
It’s time to unlock the next step in your career and secure your reputation as an acknowledged finance expert. RPA Canada’s unique program curriculum will prepare you to be a self-reliant professional with a primary focus on Small to Medium Sized business. The RPA-Accredited courses are vital stepping stones for those who want to earn their RPA designation, upgrade their career prospects and establish themselves as esteemed professionals in the field of accounting and finance.
The Society of Professional Accountants of Canada aspires to be the perpetually relevant National Professional Accounting body for local business by ensuring consistent excellence in both service delivery and ethical standards, while inspiring commitment and active support for the communities in which our Members practice.
To become an RPA, you must successfully complete the course requisites aligned to the 5 educational pillars as set out in the figure below, in conjunction with your degree or diploma in a recognized Canadian post-secondary institution. Register with RPA Canada as a Student Member to help track your progress and take advantage of other student member benefits. Once your academic requisites have been acknowledged by the Society, you are entitled to attempt the Mandatory Professional Exam, administered in several locations across Canada.
College and University Graduates who pass the Final Professional Exam must complete 2 years of relevant work experience to satisfy the Society’s requirements. Upon completion, you will be a full-fledged RPA member, with all rights and benefits that go along with the RPA designation.
They can be taken online or in-person, on a full-time or part-time basis, providing students with flexibility to fit any busy lifestyle.
Courses teach essential topics and vital tools for today’s accounting and financial world, including Management Accounting, Financial Reporting, Personal & Corporate Finance Tax, Internal Auditing & Controls, Accounting Software, PLUS a suite of courses to prepare you for the NEW business world: Big Data, Analytics for Accountants, and Emerging Trends in Technology. All of these courses will prepare students with decision making tools to help manage and deal with ethical dilemmas and your build your communication skills as a future business leader.
Courses are taught by industry professionals with hands-on experience in the field, providing students with real-world insight as to the present industry landscape.
Please note: There are no admission requirements, however, it is recommended that you take the courses in the following order:
LEVEL I: Entry-level – courses will provide you with the basics in finance and accounting.
LEVEL II: Technician – courses build on Level I and develop a deeper learning.
LEVEL III: Professional – courses will further prepare you as a self-reliant professional.
LEVEL IV: Applied – courses are more practical so you can hit the ground running.
Preparing for the Mandatory Professional Examination
In order to qualify as a Registered Professional Accountant, you must successfully complete all four subjects of the RPA Mandatory Professional Exam (MPE). This requires dedication and hard work.
RPA Professional Review Program
The Professional Review Program is a set of seminars that will ready you for the MPE. Experienced facilitators will work directly with participants, ensuring a small teacher-to-student ratio and an integrative approach that will transcend your formal learning into concepts that you will be able to bring to your job, and to the MPE. There are 4 modules: Financial Accounting, Management Accounting, Taxation, and Technology & Analytics. Although an optional program, consider this to be one of the best investments that you will make.
Offered at various locations across Canada. Approximate cost will depend on the number of modules but will be approximately $1,500 to $2,000.
RPA Candidate Registration Fees
You require approval from the Society of Professional Accountants of Canada to apply to take the RPA exam. There is a $300 fee for the confirmation process to ensure you are eligible to take the exam.
Your application will be approved if you meet the educational requisite requirements as outlined by RPA. When approved, you will receive an Approval to Mandatory Professional Exam (ATMPE) notice. However, if your application is rejected, you would need to reapply. This would involve paying the RPA application fee once again. This can be avoided by becoming an active student member, ensuring you follow appropriate codes of conduct and are current on membership fees.
Remember that the ATMPE is valid only for one year period. Hence, before this period is over, you should book your date for the MPE.
Once you have been approved to write the RPA Canada website provides details of the payment that is required to be made.
RPA Examination Fees
In order to attempt the MPE, you must book your date and pay your examination fees through the RPA Canada website.
At this stage, you are required to select the subjects that you plan to take and pay the relevant exam fees. As an example, consider the fees in Ontario:
|Financial Accounting, Audit, Ethics and Professional Standards||$450.00|
|Technology & Analytics||$450.00|
* plus applicable sales taxes
The exam is conducted by The Society of Professional Accountants of Canada (The SPAC).
To summarize, please see the below chart to outline each of the fees that may be incurred during the certification process.
RPA Exam Cost Chart
|Type of Fee||Amount Range||Estimated Total Cost*||Payable To:|
|1.||RPA Review Course||$500||$2,000||RPA Review Course Provider|
|2.||Candidate Registration Fees||$300||RPA Canada|
|3.||RPA Examination Fees||About $450 for each of the four sections of the exam||$1,800||RPA Canada|
* plus applicable sales taxes