Upcoming CPA Program Changes in Canada: Key Insights for Future Candidates

As we anticipate significant updates to the CPA program set to launch in 2027, recent information from provincial regulatory bodies sheds light on what candidates can expect. While additional details are forthcoming, here’s a concise overview of the critical changes that will take place based on the latest communications.

Overview of the New CPA Structure

• Flexible Pathways: Both Graduate Diploma (GDip) and Master of Accountancy (MAcc) programs will allow students to bypass certain modules up to CPA Part 3. However, candidates will still be required to complete the Part 1 and Part 2 exams directly through CPA and will not be able to take these exams at their university. A foundational exam, however, may be administered by the educational institution.

• Exam Attempts: Although specifics regarding exam attempts remain unspecified, it is expected that candidates will continue to have three attempts for each examination.

• Dual Pathways: The new program will introduce two distinct pathways – a common path and a licensure path, which bears resemblance to the existing public Accounting pathway.

Module Breakdown

The program will consist of four modules following the completion of university studies. For non-Accounting majors, a “knowledge check” exam must first be completed prior to entering the modules.

1. Foundational Development Module: This initial module will concentrate on core Accounting principles. Candidates will take a foundational exam at the conclusion, which will primarily feature multiple-choice questions (MCQs) alongside some case studies, drawing parallels to the current Preparation for the CPA Exam (PREP).

2. CPA Part 1: The focus of this module will be on financial reporting and assurance. There will be specific requirements for those pursuing the licensure pathway, including assignments that contribute to overall marks and eligibility for the Part 1 exam. Candidates will confront two formats of the Part 1 exam, incorporating both MCQs and case studies.

3. CPA Part 2: This module encourages critical thinking through a continuity case study. An example provided illustrates a brewery transitioning to organic practices, facing unique challenges. Assignments will play a crucial role in determining eligibility for the Part 2 exam, which is a comprehensive five-hour case-based assessment, assimilating elements from both Day 1 and Day 2 of the current exam structure.

4. CPA Part 3: This component will feature a five-day in-person workshop centered on soft