CMA®/PFA Credential

Advance your Current or Future
Public Service Career with the
CMA®/PFA Credential
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What is the significance of the CMA/PFA credential?
The public service values and promotes professional employees who demonstrate commitment
to their careers and who earn relevant professional credentials.
In partnership with The Chartered Institute of Public Finance and Accountancy (CIPFA), the
Certified Management Accountant/Public Finance Accountant (CMA/PFA) credential provides
the most relevant competency-based professional recognition available to strategic financial
management professionals working for or with the public service. Demonstrate that you have
the skills, knowledge and credentials to take your career to the next level by achieving the
CMA/PFA credential.
Certified Management Accountants of Canada (CMA Canada)
is a world leader in developing strategic management
accounting professionals with an emphasis on value creation
and leadership skills. CIPFA is one of the leading professional
accounting bodies in the United Kingdom, and is the only one
that specializes in the public service sector. Together, they form
a powerful combination—and a solid competitive advantage.
This unique accounting credential is the only one in Canada
designed specifically for public sector financial management
professionals.
The CMA/PFA credential can be achieved by successfully
completing a program developed by CMA Canada. It meets
the specific needs of the public sector across Canada and is
approved by the Office of the Comptroller General of Canada.
The program content combines the accounting, management
and strategy skills that have established CMAs as world leaders
in their field with the technical expertise and ethical standards
that have earned CIPFA its reputation as leaders in managing
and accounting for public money.
How can CMAs and aspiring CMAs
pursue this lucrative credential?
All existing CMAs (those in the public sector and those with an interest in the public
sector) can add the PFA credential to their CMA designation in just nine months. The
practical experience components of the CMA program fully meet the requirements of
the PFA program.
Aspiring CMAs can obtain the PFA credential concurrently with the CMA designation
while they are enrolled in the Strategic Leadership Program (SLP). The SLP—a
two-year program devoted to the practical application of CMA principles—is the final
phase of study and is conducted concurrently with full-time employment.
CMAs and SLP candidates can enter the PFA program by enrolling in one of the four
modules: Governance and Public Policy, Public Finance, Audit and Assurance, Financial and
Performance Reporting. They can either choose to complete the four modules consecutively
(this takes nine months) or individually (extending the study period to a maximum of four
years).
The content of the PFA components is as follows:
Governance and Public Policy—Provides an overview of the theories of political science,
public administration facing federal governance in Canada, and related key issues.
Evaluation method: a 3,000 word paper on a public policy topic of the student’s choice.
Public Finance—Examines the rationale for government expenditure, incorporating an
analysis of the main categories of public revenue. It also addresses the policy implications of
government borrowing and alternate service delivery. Evaluation method: a 2 1/2 hour exam.
Audit and Assurance—Studies the issues surrounding internal and external auditing
procedures within the public sector, including the potential impact of these practices.
Evaluation method: a 3,000 word research paper on an assigned auditing subject.
Financial and Performance Reporting—Explores the concepts and principles that create the
foundation of public sector financial performance, reporting frameworks and conventional
practices. Evaluation method: a 3 hour exam.
The content of each unit is independent of the others. Candidates can study the modules in
any order. The program is offered via distance learning (DVDs are provided). The content of
each module is delivered in English but individuals may write their exams and papers in
French.
Cost of each module is $1,900 except for Public Finance which costs $1,300.
Prices do not include HST.
“I found the CMA/PFA program to have a well-rounded curriculum that provided a
solid foundation for public sector executives. The insight and perspective I gained from the
program was well worth my time commitment. I have received a promotion since
completing the program, and I believe this is due in part to my increased
expertise and new credential.”
Andrew Francis, CMA, MBA, PFA
Director General, Indian and Northern Affairs Canada
How will this credential benefit the careers of public sector employees?
CMAs by sector
Government
14%
• The CMA/PFA credential program takes the three pillars of CMA foundational knowledge—
accounting, management, strategy—and adapts them to public service sector practices.
This expertise is an invaluable tool in assisting governments to deliver the policies they
develop.
• Professionals equipped with the CMA/PFA credential will be well-positioned to enhance
financial management and accountability, key components of the Government of Canada's
commitment to strengthen public-sector management.
The CMA/PFA credential program has been endorsed by James A. Ralston, the Comptroller
General of Canada: “I am pleased this program is in place to provide graduates with the
skills needed to face the complexities and seize the opportunities of today's public
service.”
• The CFO model within the public sector requires a growing breadth of knowledge while
maintaining a solid grounding in government issues.
• Innovations in program design, business processes and technology are ensuring the
delivery of value-for-money services to Canadians. Financial managers are expected
to keep pace with these changes while enhancing their knowledge with continuous
professional learning.
How should potential candidates proceed?
Visit www.cmaontario.org/pfa for more information and an online application.
Contact Marcie Chase, CMA, at mchase@cmaontario.org or Marsha Thompson at
mthompson@cmaontario.org for more details.
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®/™ Registered Trade-Marks/Trade-Marks are owned by The Society of Management Accountants of Canada. Used under license.