The CPA Professional Education Program (CPA PEP) is the graduate level program that makes up the educational portion of the CPA certification program. The program is designed to enhance future CPAs' ability to apply professional knowledge, values, ethics and attitudes in a professional context.
The CPA PEP consists of a series of core, elective and capstone modules built upon the CPA Competency Map, culminating in the Common Final Examination (CFE). Unless specifically exempted, students must complete the modules in order (i.e., Core 1, Core 2, Elective 1, Elective 2, Capstone 1, Capstone 2 and then the CFE).
CPA PEP Modules
The Common Final Examination (CFE) is the three-day final exam that caps the education portion of the CPA certification program. The CFE evaluates students on the competencies defined by the Competency Map, which outlines the knowledge, skills and proficiency levels you must have as a Canadian CPA.
Students must demonstrate depth in either Financial Reporting or Management Accounting as well as depth in one of the other technical competency areas. Students also have to demonstrate breadth in all six technical competencies.
The CPA PEP program takes two years to complete on a part-time basis while earning practical experience through relevant employment.