Memorandum of understanding (MOU) candidates may be eligible for advanced standing in the CPA Professional Education Program (CPA PEP) to receive full or partial exemptions from completing CPA PEP before attempting the CFE.
This week’s blog focuses on the FAQs asked by MOU candidates, such as when to enroll and what resources are available to prepare for an attempt at the CFE.
For MOU candidates registered in the full Capstone 2 module, most of the Day 1, 2, and 3 practice cases are evaluated by the National Marking Centre (NMC) and feedback on candidate performance on the technical and enabling competencies is provided.
MOU candidates can register as NFC for Core, Elective and/or Capstone 2 modules (Capstone 1 is not available as an NFC module). For more information on NFC modules, please visit the CPA PEP Modules and the CPAWSB CPA PEP Schedules.
If no further CFE attempts are permitted, then the candidate must apply for re-admission and restart CPA PEP from the beginning of the program to continue pursuit of the CPA designation. To be re-admitted, the current CPA PEP admission requirements must be met, and candidates are no longer eligible for CPA PEP module exemptions. This means the re-admitted candidate must complete the full CPA PEP modules and successfully pass examinations for: Core 1, Core 2, two (2) chosen electives, Capstones 1 and 2, and the CFE.
This week’s blog focuses on the FAQs asked by MOU candidates, such as when to enroll and what resources are available to prepare for an attempt at the CFE.
1. When should MOU candidates enroll in CPA PEP?
MOU candidates should enroll in CPA PEP during the same registration period as their first CPA PEP module session (i.e. Spring, Summer, Fall, or Winter) or CFE exam (if only attempting CFE with exemptions from all CPA PEP modules). For registration timelines, please visit the CPAWSB CPA PEP Schedules webpage.2. What CPA PEP materials are provided for MOU candidates only attempting the CFE?
Several resources are available to MOU candidates, including:- Certification Resource Centre (CRC), which provides:
- The CFE Reference Schedule
- CFE Reports (Board of Examiners’ Report)
- Examination regulations
- Examination blueprints
- Example cases for case writing practice
- CPA Competency Map: Provides the foundation for the CPA certification program, including education, accreditation, examinations, and practical experience requirements; and describes the knowledge, skills and proficiency levels you must achieve to become a Canadian CPA. To access the CPA Competency Map, please visit the CPA Competency Map website.
- Capstone 1 case: MOU candidates are provided with the related Capstone 1 case per their CFE registration. The Capstone 1 case is used to prepare for Day 1 of the CFE and is emailed to MOU candidates after the Capstone 1 session starts.
- Introduction to PEP (D2L): Provides guidance on CPA PEP policies and other resources, such as the CPA PEP Survival Guides for the Core and Elective modules technical review. MOU candidates receive free access to the Introduction to PEP module in D2L approximately three (3) weeks after enrolling in CPA PEP.
- Introduction to Capstone 2 and CFE (D2L): Contains study plans and other resources to begin preparation for Capstone 2. MOU candidates receive access to the “Introduction to Capstone 2 and CFE” module in D2L after the Capstone 1 session starts.
- Knotia: Provides access to the CPA Canada Learning eBooks for technical and enabling competencies review, in addition to the exam reference versions of the CPA Canada Handbook, Professional Engagement Guide, and the federal Income Tax Act.
3. Why should MOU candidates participate in Capstone 2 if they’ve received an exemption and this module is optional for them?
MOU candidates with exemptions from completing all CPA PEP modules are strongly encouraged to complete the full Capstone 2 module to help with CFE preparation. Capstone 2 is the CFE examination preparatory module to practice past CFE Day 1, 2 and 3 cases.For MOU candidates registered in the full Capstone 2 module, most of the Day 1, 2, and 3 practice cases are evaluated by the National Marking Centre (NMC) and feedback on candidate performance on the technical and enabling competencies is provided.
4. What are not-for-credit (“NFC”) modules?
NFC modules are self-study modules; meaning there are no assignment set activities to submit, and there is no facilitator/NMC feedback provided or moderated discussion board available. CPAWSB permits MOU candidates to register in NFC modules to access the CPA PEP module materials through D2L.MOU candidates can register as NFC for Core, Elective and/or Capstone 2 modules (Capstone 1 is not available as an NFC module). For more information on NFC modules, please visit the CPA PEP Modules and the CPAWSB CPA PEP Schedules.
5. If MOU candidates are unsuccessful after three (3) attempts at the CFE, can they register to attempt the CFE again?
Every candidate has three (3) attempts at the CFE to balance being fair to all candidates while ensuring that only those who meet the standards for qualification into the CPA profession become members.If no further CFE attempts are permitted, then the candidate must apply for re-admission and restart CPA PEP from the beginning of the program to continue pursuit of the CPA designation. To be re-admitted, the current CPA PEP admission requirements must be met, and candidates are no longer eligible for CPA PEP module exemptions. This means the re-admitted candidate must complete the full CPA PEP modules and successfully pass examinations for: Core 1, Core 2, two (2) chosen electives, Capstones 1 and 2, and the CFE.
.jpg?ext=.jpg "The Capstone Modules & Writing the CFE: Timing is everything")