It’s a story too often told in Canada: physicists, doctors and other professionals driving cabs, delivering pizza or otherwise eking out a living because of credential disparities between Canada and their home countries. Fortunately, in the case of Ontario’s Chartered Accountants, that’s not the story.
PROFESSIONAL MOBILITY AND PUBLIC INTEREST
For newly arrived professionals unable to ply their trade in Canada, the disappointment is deeply personal. But as the world’s economy and its opportunities become increasingly globalized and competitive, it is also Canada that suffers whenever talent is squandered. Fortunately, this is a situation that a number of concerned Canadian professions and government officials are urgently addressing.
“As we have individuals join us, as we recognize their credentials and give them immigration points on that basis, it’s important for us to create an environment that allows them to be productive members of Canadian society,” said Jean Augustine, Ontario’s Fairness Commissioner.
Data released by Statistics Canada in 2006 revealed skills gaps already occurring in the Canadian workforce. According to the report, our labour force and economy will be increasingly reliant on immigration. “The changing job world creates a need for the skills and talents that international professionals bring,” said Ms. Augustine.
“In Ontario, we are finding ways to recognize the equivalency of the credentials newcomers bring with them. There are several routes by which individuals are assisted, such as Global Experience Ontario,” she said. “We are the first jurisdiction in the country to have legislation that says that if an individual wants to practise his or her profession and approaches the profession’s regulatory body, registration practices must be fair, transparent and timely. And within the community, there are a whole series of programs to support newcomers.”
The financial services industry is one that is taking the challenge of professional integration very seriously. “This is a global business these days,” said Janet Ecker, president of the Toronto Financial Services Alliance. “If we want to compete and succeed, we need people who are comfortable with clients around the world as well as those up the street – people with international understanding, experience, context and networks that allow them to function in financial centres around the world.”
In addition to fostering international skill sets among Canadians, attracting foreign talent also adds up to good business. “International financial company leaders have said that one of the reasons they have made Toronto part of their global operations is because of the quality, availability and diversity of the talent that is here,” said Ms. Ecker.
“This is a strength we want to keep and leverage, because every financial centre out there is pushing hard to win the talent war. It isn’t something we can afford to take for granted.” Within financial service industry organizations, recognition of the shifts in Canada’s economy and labour force has led to the development of extensive programs that help integrate newcomers and provide international experience to Canadians.
Bill Thomas, deputy chief executive officer of KPMG Canada, said, “The makeup of Canada is changing and it is vital that organizations change with it. We are seeing more and more people immigrating to Canada. They are becoming a larger part of the workforce and bring with them a vast array of experiences and education that will benefit organizations like KPMG. If we don’t ensure that our organization is supportive of these professionals, then KPMG will be the loser – because they'll go work for organizations that do support them.”
“As KPMG in Canada has clients across all industries,” he said, “international professionals have the opportunity to build on their current skill set and their business knowledge. For example, our tax group is growing and there are many opportunities for professionals with U.S. tax experience. Also, with Canada’s transition to International Financial Reporting Standards on the horizon, there is considerable demand for foreign-trained accountants who have experience with IFRSs.”
For Canadians, the opportunity to gain international experience abroad is an essential element of career building. Like many leading firms, KPMG in Canada has a program that facilitates the transfer of employees around the world. “It keeps our people engaged by giving them new developmental opportunities that they might not experience in Canada, and enables them to develop leadership skills and knowledge that will be important in planning for their long-term career goals.”
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Also appearing in this report:
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The Institute of Chartered Accountants of Ontario has been among the leaders in evaluating the professional credentials of those trained outside Canada, and in ensuring timely access to their profession.
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THE CHALLENGE: PROVIDING ACCESS WHILE KEEPING STANDARDS HIGH
By Brian Hunt, FCA,
President and CEO, the Institute of Chartered Accountants of Ontario
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