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Prerequisite Education – 10 Year Currency of Education for Core Courses

At least one core course in each competency area (Financial Reporting, Strategy and Governance, Management Accounting, Audit and Assurance, Finance, Taxation, and Information Technology) must have been taken within the 10 years preceding admission to CPA PEP* (your CPA PEP admission application approval date)

Note: admission to CPA preparatory courses does not qualify.

If a core course, or an equivalent post-secondary course, is not given credit because it does not meet the 10-year Currency of Education requirement, you have three options:

  • Option 1 (strongly recommended): Retake the course at the same post-secondary institution or take the equivalent CPA preparatory core course. 
  • Option 2: Complete the self-assessment tool. If the tool indicates a preliminary result of ‘partial exemption granted’ and you feel adequately prepared after completing the self-assessment, send an email to transcriptassessment@cpawsb.ca and request a challenge exam for the equivalent preparatory course. 
  • Option 3 (not recommended in most cases):  Applicants with significant relevant work experience may apply for an exemption from the currency requirement for a core prerequisite course that did not receive academic credit because it did not meet the 10-year Currency of Education requirement. Assessments of work experience may result in no exemption, a partial exemption (challenge exam), and in very limited cases, a full exemption from a prerequisite course.
    Note: Assessments of work experience often result, at most, in partial exemption (Challenge Exam) being granted. Therefore, it is recommended that applicants select option 1 or 2 in most cases.

The Transcript Assessment team will usually provide the self-assessment tool to individuals who may have courses that qualify for re-assessment when the transcript assessment for CPAWSB eligibility is complete. If you don’t receive a copy of the self-assessment tool when your transcript assessment is completed, you can request one by emailing transcriptassessment@cpawsb.ca.

Example of a core course not meeting the 10-Year Currency of Education requirement

The core CPA preparatory courses Intermediate Financial Reporting 1, Intermediate Financial Reporting 2, and Advanced Financial Reporting fall under the core competency area of Financial Reporting. 

A student has completed ACCT 301, ACCT 404, and ACCT 406 (see the Transfer Credit Guides) from MacEwan University in Alberta.

If the student completed at least one of them within the ten years preceding their admission to CPA PEP*, they meet the 10-Year currency of education requirement. 

*Note: Admission to CPA preparatory courses does not qualify. 

If all three courses are older than 10 years, the student has three options:

Strongly Recommended

Retake one of the courses (ACCT 301, ACCT 404, or ACCT 406) at MacEwan University or take the equivalent CPA preparatory course through CPAWSB.

Complete the self-assessment tool* and request a challenge exam for one the following: Intermediate Financial Reporting 1, Intermediate Financial Reporting 2, or Advanced Financial Reporting.

Not recommended in most cases

Apply for an exemption based on having significant, relevant work experience. Assessments of work experience often result, at most, in partial exemption (Challenge Exam) being granted. Therefore, it is recommended that applicants select option 1 or 2 in most cases.