The Advanced Certificate in Accounting and Finance program was created to provide an opportunity to upgrade technical accounting and finance skills for those wanting to advance their career.
Designed by the Canadian CPA profession and launched in 2015, the ACAF is the only recognized national standard developed by CPA Canada specifically created for those seeking intermediate-level accounting and finance skills. Until 2017, it was delivered exclusively through CPA Canada and CPA regional schools.
In September 2017, the profession determined that post-secondary institutions were well-positioned to deliver the full suite of entry, technical, and applied courses for the ACAF program. This expanded delivery was intended to provide improved access and convenience for students, with CPA Canada administering the national exam.
While the CPA profession stands behind the quality of the ACAF program, it has not gained traction in the market, suggesting that other accounting diploma programs across the country are meeting the existing market needs.
For this reason, the CPA profession will begin winding down its involvement with the ACAF program effective immediately. We will work with our post-secondary partners to ensure that students near completion of the ACAF certificate will have an opportunity to finish outstanding coursework and write one of the last ACAF exams in September 2019, January 2020 or February 2021. No further exams will be offered and there will be no extensions past the 2021 exam for unsuccessful writers.
With respect to offering ACAF courses this fall/winter, it is up to the discretion of individual post-secondary institutions to determine if they will run ACAF courses.
Those students who are part-way through the program will be able to transition to the accounting program offered by their post-secondary institution. Students currently enrolled in the ACAF program should contact their school for more information regarding courses and program transition.
The CPA profession values the collaborative partnership we share with the post-secondary sector and we are committed to supporting accounting education in Canada. This change will have no impact on the CPA professional education program.