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CPA Professional Education Program (PEP) 

The CPA Professional Education Program (PEP) is a graduate-level program that comprises of a series of core, elective and capstone modules which focus primarily on enhancing the students' ability to apply the knowledge, values, ethics and attitudes in a professional context. The modules also include some knowledge acquisition beyond the academic prerequisite level.  CPA PEP concludes with the Common Final Exam (CFE). The program takes two years to complete on a part-time basis while gaining relevant employment experience.

To complete the CPA PEP, students must complete six modules and the Common Final Examination (CFE):

A) Two core modules:

  • Core 1, which  focuses on financial accounting and reporting
  • Core 2 , which focuses on management accounting, planning and control


B) Two of the following elective modules:

  • Performance Management
  • Taxation
  • Audit & Assurance
  • Finance


C)  Two capstone modules:

  • Capstone Integrative Module (Capstone 1), which deepens strategic leadership competencies by using the knowledge acquired in prerequisite and earlier modules in a professional team setting. Students complete a large business case which relates to Day 1 of the CFE.
  • Capstone Examination Preparation Module (Capstone 2), which focuses on preparing students for entry into the profession by applying competencies acquired throughout the CPA program in complex and highly integrative cases. Students develop their enabling competencies in situations which simulate real-life projects and assignments that newly certified CPAs may encounter in their careers.


D) The Common Final Evaluation (CFE):  a three-day examination requiring students to demonstrate depth and breadth of competency development in accordance with the CPA Competency Map.

For more information about the CPA PEP, please select one of the links below:


Please note:

  • Students registering for the CPA PEP who intend to qualify for licensing as public accountants following admission to membership in CPA Ontario are advised that the admission requirements for the CPA PEP are currently under review by the Public Accountants Council for the Province of Ontario.
  • A student may gain advanced standing in PEP if she/he graduates from a CPA Accredited Program/ Stream. For a list of CPA Accredited Programs/ Streams please visit CPA Canada's Certification web site.