Taking breaks key part of prep strategy, CFE gold medallist says
Chloé Bourgault-Bourassa is September 2021’s Governor General’s Gold Medal winner (Voltaic Photo)
After an intense three days of writing, 5,912 CPA candidates passed this September 2021’s Common Final Examination (CFE), which is no easy feat.
Even more impressive: achieving the highest overall standing. Chloé Bourgault-Bourassa, from Vérificateur général du Québec in Quebec City, earned this season’s Governor General’s Gold Medal and a $5,000 cash prize for her accomplishment.
CPA Canada also awarded regional Gold Medals and a cash prize of $2,500 to:
- Atlantic Canada: Stacey Bailey, Morgan & Associates, St. John’s (NL)
- Ontario: André Caissie, Deloitte LLP, Ottawa (ON)
- Western Canada: Sarah Wang, Deloitte LLP, Vancouver (BC)
“The achievement for these dedicated individuals represents an important milestone on their way to becoming a member of our profession,” said Charles-Antoine St-Jean, CPA Canada’s president and CEO. “The commitment displayed in studying and writing against the backdrop of a pandemic gives us a glimpse of the next generation of CPAs: strong, focused and unshakeable under pressure.”
DISCOVERING THE WIN
Bourgault-Bourassa, a Trois-Rivières native, first heard about her honour roll placement and was finishing a celebratory FaceTime call with her parents when her phone started buzzing. It was the news that she had claimed the gold medal spot.
“I was so excited and happy and proud of myself,” she says. “It opens a lot of opportunities for me and I’m proud because I’m representing my organization and my [school, the Université du Québec à Trois-Rivières], which is very small. It means a lot because it proves that you can make it even though you come from a small town.”
THE WRITING EXPERIENCE
This fall’s writing followed the same pandemic protocols as other recent CFEs where students are assigned individual hotel rooms to complete the exam.
For Bourgault-Bourassa, having her own quiet space allowed her to concentrate and feel more comfortable. “Being alone was helpful,” she says. “At that moment, you don’t want to be distracted by other people.”
An avid studier throughout university, Bourgault-Bourassa says she felt confident during the first two days of the exam but became doubtful on the third day when she found herself tight for time. Through positive self-talk, reassuring herself that she had the knowledge to succeed, the top winner stayed on course to finish strong.
WINNING STUDY TIPS
With school closed until this past August, the gold medal winner says not being in class or seeing classmates in-person was difficult.
“I tried to stay connected,” says Bourgault-Bourassa. “That is one of the most important things: to connect with your colleagues to see how they’re doing.” She relied on digital communication, but the inability to walk up and ask a teacher a question or check in with colleagues was challenging.
While understanding technical aspects of case writing is important, Bourgault-Bourassa says putting emphasis on the writing method helped her to clinch first prize.
“I think it’s important to focus on the readings, [to] understand the context and [know] what your role is in the case,” she says. “And, also, to annotate.” Her proven method was to highlight as she read, so that she could easily summarize the cases afterward.
Another winning tip: Take care of yourself. Though she studied 40 hours per week in preparation for the CFE, she also made sure to leave space for mental recovery. “I think it was important to have breaks on nights and weekends,” she says, “just to relax my mind and see my friends.”
DEVELOPING LIFE SKILLS
The CFE, more than just a path to becoming a CPA, also helps students develop life skills. Learning to write cases, says Bourgault-Bourassa, is a simulation of real-life challenges as you comb through information to find the missing pieces and properly put [the case] together. This work has also been useful in preparing her to enter the workforce.
“I learned that it’s important to trust yourself and your abilities,” she says. “Sometimes you’re not sure or there is not just one right answer. That’s what the professional judgment is about—to be able to make decisions by yourself.”
FUTURE READY
At Vérificateur général du Québec, Bourgault-Bourassa prepares and analyzes financial statements. For her longer-range plans, she intends to pursue her auditor’s license, with dreams of using those skills at her current organization.
While thankful for her close inner circle for their support, Bourgault-Bourassa also extends appreciation to her teachers for guiding and encouraging her along the way. “They all gave me something that is now a part me, all of them make such a great impact on you as a professional,” she says.
She has a message for her fellow CFE writers, too: “I would like to congratulate everyone who passed,” she says. “It’s a big goal to pass this exam and everyone worked so hard. Congratulations.”
LEARN MORE ABOUT BECOMING A CPA
See the full honour roll list and read how May’s gold medal winner prepped for the CFE. Also, find out what it takes to be a CPA and where the profession is heading.