May 22, 2020
Accounting graduates from the University of Toronto (U of T) Scarborough campus will now benefit from an accelerated pathway to obtaining the globally recognized Association of Chartered Certified Accountants (ACCA) designation, under the new partnership announced today by Canada’s leading university and the global accountancy body.
ACCA accreditation marks the third professional pathway linked to both the Bachelor of Business of Administration (BBA) – Specialist Program in Management and Accounting, and the Master of Accounting and Finance (MAccFin) degree offered exclusively by the Department of Management at U of T Scarborough. Both programs were first accredited by the Chartered Professional Accountants (CPA) of Ontario and recognized by the Chartered Financial Analyst Institute (CFA) in the MAccFin graduate curriculum.
“With the addition of ACCA accreditation, U of T Scarborough accounting graduates now have even greater access to career opportunities in the U.K. and 80 other countries that adhere to ACCA guidelines,” said David Zweig, chair of the Department of Management at U of T Scarborough. “This is fantastic news for our students, who share the values of professionalism, integrity, sustainability, and innovation promoted by the University of Toronto and our accounting colleagues worldwide.”
As of January 1, 2020, U of T Scarborough students who successfully complete their MAccFin graduate degree will be eligible for direct entry to the ACCA Strategic Professional Level exams, while a student who successfully graduates with their BBA Accounting Specialist degree will receive exemptions from all nine Applied Knowledge and Applied Skills exams on a fast track to the ACCA qualification.
“We’re delighted to partner with U of T Scarborough. One of ACCA’s corporate values is innovation, and it is a value shared with the University. For ACCA, this value enables us to think ahead, explore new ideas with partners, and create solutions that ensure our community and the wider profession is ready for the future. This agreement is a great example of how innovation works in practice: it will provide students with a clear career pathway into a global profession that is in demand,” said Jillian Couse, head of ACCA Canada.
Globally, ACCA has forged partnerships with more than 900 higher education institutions through Exemption Accreditation to accredit their programs. ACCA-qualified accountants have leveraged their education to build impressive careers and work for many leading employers, including more than 7,500 approved employers across the globe.
“Employers worldwide recognize the value of a U of T education. Aligning our accounting programs with the ACCA qualification will serve to further enhance our students’ mobility, employability, and authority within the accounting profession globally,” said Douglas Kong, associate professor and MAccFin academic co-director in the Department of Management at U of T Scarborough.
Added Anna Maria Russo, MAccFin program manager in the Department of Management at U of T Scarborough: “Our accounting programs continue to push the boundaries of what it means to be a financial professional, and ACCA accreditation is no exception. U of T Scarborough students look for this type of value-add and we couldn’t be happier to offer them even more opportunities upon graduation.”
About the University of Toronto Scarborough, Department of Management
U of T Scarborough Management attracts the top business students in Canada and globally through an innovative approach to university-level business education. A cornerstone of Management is its Bachelor of Business Administration (BBA) degree: a four-year undergraduate program that offers a holistic business education across the management disciplines, while allowing our students to specialize their studies in finance, accounting, marketing, human resources, strategy, information technology, international business, or economics, including a very popular co-op option. In 2018, the Department of Management launched its first graduate program, the Master of Accounting and Finance (MAccFin), a 16-month, full-time program accredited by the Chartered Professional Accountants of Ontario and the curriculum is based on the Candidate Body of Knowledge from the Chartered Financial Analyst Program administered by the CFA Institute. Together with the BRIDGE, the Department of Management’s campus-linked accelerator and applied learning space for business entrepreneurship in partnership with U of T Libraries, Management students experience leadership by applying the latest management theory to real-world problems, both in the classroom and in the business community.
ACCA (the Association of Chartered Certified Accountants) is the global body for finance professionals, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. ACCA supports its 219,000 members and 527,000 students in 179 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 110 offices and centres and 7,571 Approved Employers worldwide, and 328 approved learning providers who provide high standards of learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence. ACCA has introduced major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.com. ACCA is not affiliated with any Chartered Accountant (CA) organization or Chartered Professional Accountant (CPA) organization.