CA(India) and CA(Canada) signed a MoU in January 2011.
For an ICAI member to take a shot at CA(Canada), he or she will have to fulfil the following conditions:
1) Be a member of ICAI and have a university degree recognized by ICAI.
2) pass CA(Canada) Uniform Final Examination(UFE) -- these are 3 exams written during 3 consecutive days.
3) Meet the experience requirements in terms of depth and breadth' your articleship experience in India will be considered. This really is the hard part because the local Council has lot of discretion here.
There are 3 accounting bodies in Canada; these 3 are in talks regarding a potential merger. If the merger goes through, we will have a new qualification programme. The new designation will be known as Chartered Professional Accountant(CPA). The 3 accounting bodies in Quebec have recommended to the local government to pass legislation to merge the 3 bodies; early next year this legislation will be passed paving the way for a merger in that province. In effect, this province has set the trend for a nationwide merger.