Although I argree with most of what BQ stated, the 4 year university degree has only been made mandatory in Ontario with the removal of OAC (Grade 13 / Form 7) from high school in 2002.
The 4th year of my bachelor's degree in science (mathematics) gave it the honours distinction and was an optional year. The NZQA did not see the extra year as an honours distinction as it assumes that every Canadian province has/had the same standards. I will unfortunately lose this qualification in our move as my degree was assessed as not having an honours equivalent in New Zealand.
Cheers,
Mark.