Yep they can be dicks about it , I basically snuck into CPA . I came through on the transition from CGA where I only had the write the CFE and a lot of people in my firm felt like I cheated my way in despite having done 7 years of post secondary and passing the same exam . From what I ' ve read the ACAF reflects a lot of the old CGA program , so I think it is going to be geared more towards the gap created when CACGACMA merged . A lot of accountants working in industry or small business really don ' t need a CPA . I ' ve already seen job postings for Big 4 and National firms that want the ACAF for the SmallMedium Business and Tax groups . For staff doing financials , notice to readers , reviews and returns it seems like the large accounting firms are realizing that there is a place for college grads aside from simple bookkeeping . Once it becomes more prominent , I think it will be better respected as a credential .