CPA Canada’s New Certification Program Delayed to 2027

What University Students Need to Know

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CPA Canada has recently announced a significant delay in the launch of its highly anticipated New Certification Program. Initially scheduled for a 2025 debut, the program's rollout has now been postponed to early 2027. This delay is poised to impact current and prospective CPA Canada students, leaving many with questions about their future certification paths.

In this article, Crowe MacKay's Director of Training, Nadia Craye, explores the reasons for the delay, providing an overview of the new program and discussing its implications for university students aspiring to become Chartered Professional Accountants (CPAs). For additional accounting student tools and resources, browse our student hub.

Program Overview

A Modernized Certification Program

The new CPA Certification Program aims to align with the new Competency Map (CM 2.0), ensuring that the skills and competencies taught are in sync with the demands of today’s evolving market. This modernization effort seeks to create a more attractive, inclusive, and innovative certification program that addresses the needs of learners, employers, and governments alike.

Access the FAQ on the New Certification Program

Current Phase: Design and Consultation

As of now, the program is still in the design and consultation phase. This means that no final decisions have been made regarding the format, assessments, or potential micro-credentials that could be part of the new curriculum.

Why the Change?

The Evolving Landscape

The accounting and finance landscape is rapidly changing, driven by advancements in data governance, artificial intelligence (AI), machine learning, and environmental and social performance measures. Future CPAs must be agile, adaptable, and proficient in these new areas while maintaining traditional accounting skills and a strong ethical foundation.

The Need for Modernization

With these advancements, it has become crucial to modernize the CPA curriculum to ensure that upcoming CPAs are well-prepared to meet future challenges. This modernization will help CPAs remain relevant and competitive in a marketplace increasingly driven by technology and data.

Uniformity Across Provinces

One of the reassuring aspects of the new certification program is that CPA exams are expected to remain uniform across all provinces and territories. This consistency ensures that the qualification process will be standardized, providing equal opportunities for all candidates across Canada.

Retaking Exams Under the New Program

Currently, there is no information on whether students who have failed the Professional Education Program (PEP) or Common Final Examination (CFE) three times and have been de-registered can register for the new program. CPA Canada will provide updates as more information becomes available.

Impact on Current Students

Transitioning to the New Program

Students currently enrolled in the CPA certification process can switch to the new certification program once it launches. CPA Canada is actively developing policies to facilitate this transition, including potential exemptions for passed exams. This means that students may be able to enter the new program at a higher level, depending on their progress in the current program.

Support During the Transition

All current students and candidates will be supported to complete the current certification program. Once the new program is finalized, those who have not completed the current program will have reasonable pathways to transition and will receive adequate support to ensure a smooth process.

Future of the Common Final Examination (CFE)

Summative Examinations

The revised certification program will include “summative examinations” that feature case-based evaluations, similar to the current CFE. Although no final decisions have been made, these evaluations may be divided into three parts.

Transition Period

While work on the new certification program continues, the current CFE will remain in place during a transition period that extends beyond 2027. This ensures that students currently preparing for the CFE can continue their studies without disruption.

Practical Experience Reporting Tool (PERT)

Importance of Practical Experience

Practical experience and reporting will continue to be essential to the new program. However, no decisions have been made regarding the future use of the Practical Experience Reporting Tool (PERT).

Micro-Credentials

Under Consideration

The introduction of micro-credentials remains under consideration during the current design and consultation phase. No decisions have been made yet, but this aspect could add another layer of specialization and flexibility to the certification process.

Further Information

For more updates and detailed information, visit CPALeadstheWay.ca. For additional assistance, you can also contact your local provincial, territorial, or Bermudian CPA body.

Conclusion

The delay in launching CPA Canada’s New Certification Program to 2027 provides both challenges and opportunities for university students aspiring to become CPAs. While the delay allows more time for thorough design and consultation, ensuring the program meets the highest standards, it also requires students to stay informed and flexible in their certification journey. By understanding the changes and staying engaged with CPA Canada’s updates, future CPAs can navigate this transition smoothly and prepare themselves for a successful career in accounting.

Make sure to reach out to your local CPA body for any questions or concerns. Your journey to becoming a CPA may have an extended timeline, but the destination remains just as rewarding.

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Nadia has extensive experience leading various assurance engagements and advisory projects across several industries, including not-for-profit organizations, government agencies, owner-managed companies, and professional organizations. Since 2009, Nadia has been actively involved in coaching, mentoring, and lecturing within the National CPA Program and Canadian universities, demonstrating her dedication to supporting aspiring professionals' success in their careers and the Common Final Examination (CFE).

Nadia Craye

Director, Training and Development

Sunshine Coast

1 (604) 697 9271

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