The Sprott School of Business has added a new 16-month Master of Accounting (MAcc) program to its graduate school to keep up with recent changes to professional accounting in Canada, according to director of the new program, Darrell Herauf.
New regulations require Chartered Professional Accountants (CPAs) to have stricter educational requirements, including an honours bachelor degree and a series of skill courses.
Sprott dean Jerry Tomberlin said the news is an “exciting development” for the Carleton community in a press release.
“The program is offered over a 16-month period commencing in May 2015,” Herauf said. “Offers for admission will be presented to students starting the beginning of this February.”
The MAcc program offers aspiring CPAs an alternative to the CPA’s Professional Education Program.
“It will prepare students for a career as a professional accountant regardless of whether or not they choose to sit the CPA Canada Common Final Examination,” Herauf said.
MAcc students will complete internships with businesses, beginning mainly with public accounting firms, Herauf said.
“Most students admitted to the program will likely have job offers in hand,” he said.
The program is currently partially funded by operating grants provided by the Ontario government, according to Herauf.
“The MAcc program has received a very positive reception from all the key stakeholders,” he said. These stakeholders include Carleton students, faculty, senior administration, and outside reviewers.
In their final report, external reviewers said they believe the course content will “provide the students with the enabling and technical competencies to successfully complete their professional examination and become Chartered Professional Accountants,” according to Herauf.
“The program has gone through all levels of approval at Carleton including the university’s own quality assurance processes,” Herauf said. The program was accredited by CPA Ontario in November 2014. It still needs to be approved by the Ontario government.
Government approval is expected by the end of January 2015, he said.
