NOTES & NEWS
Change to Practical Experience
Requirements for CPA Candidates
Effective immediately, CPA candidates who elected to follow the CA
legacy Practical Experience Requirements (PER) are no longer required
to complete the “100 Tax Hours” that formed part of their minimum
practical experience requirements.
Therefore, CPA candidates who have not yet begun acquiring these
chargeable Tax Hours or who are in the process of acquiring them, no longer need to fulfil this requirement. CPA candidates are those individuals
who will write or have written the new Common Final Exam (CFE).
It should be noted that the profession’s minimum practical experience
requirements for certification may differ from the minimum practical
experience requirements required to enter a public accounting licensed
pathway. This particular change removes the 100 Tax Hours reporting
requirement from both our CPA certification and licensed pathways
for CPA candidates; however, it does not remove the other chargeablehour requirements expected of our various licensed pathways.
National initiative
The removal of the 100 Tax Hours requirement for CPA certification
follows a national recommendation approved last year when it was
removed from the public accounting licensing requirements. In support
of its removal, it was recognized that the new CPA education program
requires all CPA candidates following a pre-approved program within
public accounting to complete the Tax elective module.
Legacy CA candidates
This change is not applicable to legacy CA candidates. Legacy CA
candidates did not get the additional depth covered in the CPA Tax
elective and, therefore, must still complete the 100 Tax Hours requirement in the legacy CA experience requirements and report these hours
in the CA PER.
For more information on practical experience requirements, contact:
[email protected].
CPA Prerequisite Education Program (PREP)
2016 Semester Two
Core Modules:
Modules 5.2 (Intermediate Financial Reporting 2);
6 (Corporate Finance); and 8 (Taxation):
• Exams – May 14-15
Non-Core Modules:
• Exams – May 14-15
2016 Semester Three
Core Modules:
Modules 5.1 (Intermediate Financial Reporting 1);
5.3 (Adv. Financial Reporting); 7 (Audit and Assurance);
and 9 (Intermediate Management Accounting):
• Registration deadline – May 19
• Module start – May 29
Non-Core Modules:
• Registration deadline – June 9
Summary schedule at goCPAbc.ca.
CPA Professional Education Program (PEP)
Spring 2016 term – key dates
Core Modules 1 & 2; Performance Management,
Assurance, Finance, and Tax elective modules:
• Withdrawal deadline – June 3
• Exams:
> Core Mod 1, Perf. Mgmt, and Assurance – July 7
> Core Mod 2, Finance, and Tax – July 8
Capstone 1:
• Module start – May 14
• Withdrawal deadline – June 10
• Panel presentations – July 9-12; re-presentations – July 14
Summer 2016 term – key dates
Core Module 2; Performance Management, Assurance,
Finance, and Tax elective modules; Capstone 2:
• Registration period – April 18-May 30
Summary schedule at cpawsb.ca.
16 CPABC in Focus • May/June 2016
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