Prerequisite Education: 10-Year Currency of Education Requirement

To meet the 10-Year Currency of Education Requirement, at least one core course in each of the following competency areas must have been completed within the 10 years preceding your admission to CPA PEP (based on the date your CPA PEP application is approved):

Financial Reporting
Strategy and Governance
Management Accounting
Audit and Assurance
Finance
Taxation
Information Technology

Note: Admission to CPA Preparatory Courses does not satisfy the 10-year currency requirement. The requirement is assessed based on your admission to CPA PEP.

If a Course Does Not Meet the Currency Requirement

If a core prerequisite course (or equivalent post-secondary course) is not recognized because it falls outside the 10-year currency period, you have the following options:

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Option 1 (Strongly Recommended)

Retake the course through the original post-secondary institution or complete the equivalent CPA Preparatory Course.

Option 2

Complete the self-assessment tool. If the preliminary result indicates a partial exemption and you feel adequately prepared, you may request a challenge examination for the equivalent preparatory course by contacting [email protected].

Option 3 (Not Recommended in Most Cases)

Apply for an exemption based on significant relevant work experience. Depending on the assessment, applicants may receive:

No exemption
A partial exemption (challenge examination)
In limited circumstances, a full exemption

Example: Financial Reporting

The following CPA Preparatory Courses fall within the Financial Reporting competency area:

Intermediate Financial Reporting 1
Intermediate Financial Reporting 2
Advanced Financial Reporting

For example, a student who completed ACCT 301, ACCT 404, and ACCT 406 at MacEwan University meets the 10-year currency requirement if at least one of those courses was completed within the 10 years preceding admission to CPA PEP.

If all three courses are more than 10 years old, the student may:

Retake ACCT 301, ACCT 404, or ACCT 406 (or the equivalent CPA Preparatory Course).
Complete the self-assessment tool and request a challenge examination for Intermediate Financial Reporting 1, Intermediate Financial Reporting 2, or Advanced Financial Reporting.
Apply for a work-experience-based exemption (not recommended in most cases).

Self-Assessment Tool

The Transcript Assessment team typically provides the self-assessment tool to applicants whose courses may qualify for reassessment after a transcript assessment has been completed. Contact us if you believe you may be eligible and have not received the tool.