CPA Breakup – Ontario Assures Continuity for Candidates
On June 20th, 2023, CPA Ontario members received a surprising email from the provincial body stating that the provincial CPA body of Ontario has elected to change its existing relationship with the national body (CPA Canada).
As a follow-up to this news, CPA Ontario emailed members a few months later on November 27th, 2023, to provide additional context for members and students within Ontario. The full email sent to members is provided below:
The Email: Continuity for CPA Students in Ontario Assured
Dear Member,
Since we announced our decision to withdraw from the Collaboration Accord in June, we have been engaging with members and students. Thank you to everyone who has joined one of our engagement sessions or reached out to us directly over these past few months. We’re incredibly grateful for the feedback we’ve received.
We know that many members were surprised by our decision. As discussions progress with our provincial counterparts and CPA Canada, we are committed to keeping you updated and engaged as we shape a new way of working together across the country.
With that in mind, we are pleased to share an important development with you that provides certainty for students regarding their CPA education journey.
In June, we committed to students that their educational journey would not change as a result of our decision to withdraw from the Collaboration Accord which will take effect in December 2024. Today we can confirm that all students in Ontario will be able to complete their educational journey as planned, and without interruption.
Here are the highlights to be aware of:
- Under a new agreement, CPA Canada will continue to develop the curriculum and examinations for the Preparatory courses (PREP), CPA Professional Education Program (PEP), and Common Final Examination (CFE), on behalf of and funded by the Provincial, Territorial and Bermudian CPA bodies.
- CPA Ontario will continue to be responsible for the educational journey of Ontario students and for delivering all educational courses, modules and examinations.
- There will continue to be a common standard of entry into the profession and a consistent education program across Canada.
- The portability of the education program and the designation will not change.
What Does This Mean for Ontario CPA Candidates?
While public information on the topic remains lacking, this email sent to CPA Ontario members confirms that the provincial body will not be pulling the rug out from underneath existing candidates. A change to a program such as this will likely be rolled out very slowly over the course of many years, as is often the case in these types of situations. If you have invested time by preparing, studying, or even just reading about the CPA pathway in Ontario, rest assured that the knowledge you have gained will not go to waste any time soon. However, as with all impending changes, it is generally best to get the designation out of the way as soon as possible to not have to deal with the confusion and complications that may arise once changes begin. For example, When CPA Canada had originally undergone the roll-out of the program which exists today (unified CPA body with PREP, PEP, CFE, and PERT), the first few waves of candidates had to suffer through unclear instructions, glitches, and inconsistencies in the program.
Students or candidates planning to obtain the CPA designation in Ontario are encouraged to proceed in the program and aim to complete program requirements sooner rather than later. As mentioned above, it is almost always better to be the last cohort under an old pathway than the first under a new one, especially after considering the lack of resources available to candidates who will be starting the program after changes (if any) take place. Often, being able to lean on successful candidates from the past (friends, colleagues, online message boards, etc.) is an invaluable resource when completing a program such as the CPA designation. Further, existing resources such as tutoring or guides as those provided on this website, may become obsolete if CPA Ontario decides to implement substantial changes to the program. This lack of relevant resources may very well inhibit the ability of candidates to complete the program as smoothly as possible and obtain the designation with minimum hardship.
Chartered Perspective is committed to the ongoing monitoring of news surrounding the breakup of the national CPA body and dissecting the information for the benefit of its readers as well as providing an informed opinion on the implications. Candidates are encouraged to bookmark the blog to ensure updates are not missed..
