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U of T Scarborough to offer North America’s first graduate degree in Accounting and Finance

U of T Scarborough is introducing the MAccFin, a new Master’s degree in Accounting and Finance that will be the first of its kind in North America

New Master’s program prepares students for designations from two professional bodies

University of Toronto Scarborough will offer a new professional Master of Accounting and Finance (MAccFin) degree, the first of its kind in North America.

The 16-month, full-time program is 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 CFA Institute. By completing the MAccFin, students will qualify for advanced standing in the Chartered Professional Accountant Professional Education Program (CPA PEP). Obtaining either of these in-demand, globally recognized and respected designations requires a commitment to higher standards of integrity and credibility, which can be essential to desirable employment.

“We are looking for individuals who want to balance their passion for accounting and finance with a deep understanding of management and leadership,” said Professor David Zweig, Chair of U of T Scarborough’s Department of Management. “The students we are seeking have already distinguished themselves technically; this program will help propel them into leadership roles.”

There is a growing industry need for these professional designations as employers look for candidates whose academic training extends to the frontiers of professional knowledge in an increasingly complex global environment. Graduates will be well-positioned to pursue careers in either or both of accounting and finance, with the ability to move seamlessly between these areas. Designed to train future leaders in account management, wealth management, consultancy, entrepreneurship and project management across all industries, the MAccFin makes students more marketable all over the world.

“Employers and students are looking for ways to address overlapping interests. U of T Scarborough is building on its successful model of integration within the Bachelor of Business Administration (BBA) program to present graduate education that demonstrates how the models and theories drawn from one discipline inform the other,” said Zweig. “Not only will the program emphasize the integration between accounting and finance, it incorporates other management disciplines as well as the latest research on big data and data analytics, all of which are critical to solving multi-faceted issues in today’s business world.”

“We are excited to partner with the University of Toronto Scarborough in accrediting their new Master of Accounting and Finance program,” said Richard Piticco, CPA, CA, CFA, Vice-President, Student Services, Chartered Professional Accountants of Ontario. “Undoubtedly, it will meet market needs while providing these top-notch students with advanced standing in the CPA Professional Education Program.”

The MAccFin is a good fit with the CPA program because the integration of a wide range of knowledge, including accounting and finance, is one of the main factors that makes the Canadian CPA designation a pre-eminent business credential. To become a Chartered Professional Accountant, candidates must also complete the academic pre-requisite requirements, the Professional Education Program (PEP), Common Final Examination (CFE) and 30 months of qualifying practical experience.

“CFA Institute looks forward to continuing to work with the University of Toronto Scarborough through our University Affiliation Program, which signals that their curriculum is closely tied to the practice of investment management and is helpful to students preparing for the CFA Program exams. Through cooperation with universities around the world, we seek to promote ethics-based investment education in university degree programs aimed at developing investment professionals. We’re excited that U of T Scarborough is one of our current 264 affiliated universities with their Bachelor of Business Administration Program and that they seek to further incorporate the CBOK into their new MAccFin Program for the ultimate benefit of their students,” said Wanda McClenahan, Director, University Relations, Americas, CFA Institute.

The curriculum in the MAccFin reflects the CFA Institute Candidate Body of Knowledge (CBOK). The CBOK is developed from a practice-based approach and reflects the technical expertise, as judged by the industry itself, required for a career in investment management. It is this rigorous approach that helps make the CFA credential such a respected and recognized investment management designation. To earn the Chartered Financial Analyst designation candidates must successfully complete all three levels of the CFA program and have a minimum of 48 months qualifying work experience. 

The MAccFin will also leverage U of T Scarborough’s stellar management co-op reputation—one of U of T’s most competitive undergraduate business programs—by featuring a co-op internship in accounting and/or finance, allowing students to combine their academic studies with work experience in public or private sector enterprises. The department is known for providing an outstanding business education and is especially well regarded in the areas of accounting and finance, with the majority of students securing full-time employment before graduating. The new professional Master’s leverages this reputation, combining these two important, high-demand areas of study. 

“The MAccFin is a well-recognized degree internationally that has considerable traction in Europe in particular,” says Zweig.

The program will start in May 2018 with a cohort of 30 students and cohort size is expected to grow in the following years. Prospective students must have an undergraduate degree with a specialization in accounting or an equivalent program.

Offers of acceptance can now be made now that final approval of the program has come from the Ontario Universities Council on Quality Assurance and the Ministry of Advanced Education and Skills Development. This also makes the Department of Management the third graduate unit at the University of Toronto Scarborough.

For more information, please contact:

Don Campbell
Media Relations Officer - University of Toronto Scarborough

About the Chartered Professional Accountants of Ontario

CPA Ontario protects the public interest by ensuring its members meet the highest standards of integrity and expertise. CPA Ontario serves and supports its more than 89,000 members and 19,000 students in their qualification and professional development in a wide range of senior positions in public accounting, business, finance, government, not-for-profits and academe. Chartered Professional Accountants are valued by organizations of all types and sizes for their financial expertise, strategic thinking, business insight, management skills and leadership. For information on the profession, visit

For more information, please contact:

Perry Jensen
Chartered Professional Accountants of Ontario
416-969-4271 or 1-800-387-0735, ext. 4271


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