Details of the Canadian CPA Certification Program
A SEPARATE PROGRAM FOR INDIVIDUALS ASPIRING TO A CAREER IN ACCOUNTANCY OTHER THAN THE CANADIAN CPA
The new CPA certification program is designed to develop Canada’s pre-eminent professional accountants. However, not all individuals interested in accounting will become CPAs. The CPA profession will include a separate program for individuals who aspire to a career in accountancy but not as a qualified CPA. This program will have relevant entrance, education and assessment requirements to meet the market need and the goals of the profession. Education/evaluation bridges to the appropriate stage of the CPA certification program will also be developed.
TRANSITION TIMING
One principle of unification is that the profession will evolve towards a new single designation with a new CPA certification program. The existing qualification programs will not accept new entrants once the CPA certification program becomes available.
The new CPA certification program is now being developed. Transition timing is as follows:
| • | October 31, 2012: When the new CPA competency map was released. |
| • | Summer 2013: The CPA Prerequisite Education Program (CPA PREP), an accelerated bridging program designed to prepare students lacking specific subject area coverage for admission to the CPA Professional Education Program, launches nationally, with the exception of Quebec, where it will become available in fall 2015. |
| • | Fall 2013: The new CPA certification program will be available in parts of Canada. |
| • | Fall 2013-14: The new CPA Professional Education Program (CPA PEP) will be available in Western Canada and other parts of the country this September and rolled out nationally in fall 2014. |
| • | Fall 2015: The first CPA Common Final Evaluation will be offered. |
Transition for those in current programs will need to be well defined and clearly communicated to candidates and other stakeholders on a timely basis. Implementing the transition over as short a time period as is reasonably possible will be best for all involved. Success will be built on a well communicated transition based on fairness and transparency.
Care will be taken to support a smooth transition to the new CPA certification program. The process will be guided by these basic principles:
| • | There will be no legacy evaluations offered after the first CPA Common Final Evaluation is launched in September 2015. |
| • | All CA, CMA and CGA candidates who have not successfully completed their programs by September 2015 will be bridged to the new CPA certification program via transitional programs. |
| • | Failed attempts at CA, CMA and CGA evaluations, including CMA Board Report attempts, will not count against the permitted number of attempts on the CPA Common Final Evaluation. |
| • | All education and experience that meets the criteria of a legacy program will count towards the CPA designation. No candidate transitioning from a legacy program will be required to redo education or experience that was successfully completed for their legacy program. |
| • | Students transitioning from a legacy program to the new CPA Prerequisite Education Program (CPA PREP) or the CPA Professional Education Program (CPA PEP) will be provided with the support they need to prepare them to be successful. |
| • | Candidates who begin in a legacy program and finish in the CPA certification program will require additional education, which will be provided by the profession in specifically developed transitional programs. The CPA profession will provide the support needed to prepare them to be successful. |
As the profession is provincially regulated, this transition timing may be affected by the timing of legislative change across the country.