It's a somewhat tricky and ridiculous scenario in Canada. I checked a while ago with CPA BC and according to them you cannot use the designation CMA or the professional description "certified management accountant" anywhere including your stationary, email signature, business cards, etc. as it violates the CPA Act. I was told at the time that only on your resume are you allowed to use CMA(US) but this might have changed as well.
You are correct, there is no reciprocal understanding between IMA and CPA. There is a long history between the 2 institutes. CMA Canada's predecessor branded the Registered Industrial Accountant designation decades ago. The US and Canadian organizations were cooperating fairly well until the Canadian counterpart decided to rebrand their RIA to CMA in 1985 long after IMA, or more accurately NACA IMA's previous name, came up with the CMA certification.
I find the Canadian market is very restricted, although we welcome huge numbers of international professionals every year, non-Canadian credentials are not valued or respected unless the Canadian counterpart sees a money making venture and can charge you big application and transfer credit fees. I am Canadian and have an accounting degree from a Canadian university but decided to complete the IMA CMA years ago for professional development. The knowledge gained served me well over the years but the credential is not officially considered in Canada, except if you decide to work for a Canadian company that is a subsidiary of a US corporation.
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Gunter Wallner CMA, CIA
Director/Manager
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