What is a CPA?
Chartered Professional Accountant is the gold standard for accounting in Canada. Earning this credential signifies advanced skills in such areas as financial management, auditing and strategic decision-making, along with a commitment to high ethical standards.
What makes a CPA career so exciting is its variety. CPAs work in virtually every sector – public accounting, corporate settings, government and non-profit – taking roles ranging from staff auditor to C-suite positions. This versatility means you can explore different areas of accounting and finance to find the path that best fits your skills and interests.
Thanks to international recognition agreements, Canadian CPAs can also find opportunities worldwide. A CPA might help launch a Canadian company's operations in Europe, lead financial planning for a global manufacturer or advise on cross-border investments.
Steps to become a CPA in Canada
How long does it take to become a CPA in Canada? Most candidates complete the credential in 3-4 years, including around 30 months of work experience and 18-24 months in the CPA Professional Education Program (more on that below). The timeline can vary based on your educational background and whether you study full- or part-time. Here’s a step-by-step guide on how to become a CPA.
Step 1: Complete the educational requirements
To begin your CPA journey, you’ll need a bachelor’s degree, typically in accounting or a related field. This degree must include at least 120 credit hours of post-secondary education and cover specific prerequisite courses in areas such as financial reporting, management accounting and taxation.
If your degree isn’t in accounting, you can bridge the gap by completing CPA preparatory courses. These provide the foundational knowledge to enter the CPA Professional Education Program (PEP), a graduate-level program administered by CPA provincial and regional bodies across Canada.
Step 2: Enroll in the CPA Professional Education Program
Delivered primarily online, the CPA PEP offers flexibility for working professionals and typically takes 18-24 months to complete.
The PEP is divided into modules:
Core modules: These focus on foundational topics such as financial reporting, audit and assurance, and strategy and governance.
Elective modules: These offer options that allow you to specialize further in topics like taxation, finance, or strategy and governance.
Capstone modules: These integrate technical knowledge and skills in a simulated business environment, allowing students to demonstrate their ability to solve complex, real-world business problems.
But PEP is not just about academics. It also emphasizes ethical decision-making, leadership and communication skills, preparing you for real-world challenges as a CPA.
Step 3: Gain practical experience
On-the-job experience is a cornerstone of the CPA certification process. To meet this requirement, you must complete 30 months (or 24 months in Quebec) of relevant paid employment, working under the supervision of a qualified CPA mentor. This tests your ability to apply the knowledge gained in the CPA PEP to practical, hands-on situations.
Step 4: Pass the Common Final Examination
The Common Final Examination (CFE) is the final hurdle in becoming a CPA. This rigorous three-day exam assesses your knowledge across key technical competencies such as financial reporting and management accounting, as well as an elective area you selected during the CPA PEP.
Day 1 focuses on testing your business analysis and professional judgment using a comprehensive case study. Days 2 and 3 assess your technical competencies through multiple cases. You'll need to show:
Deep knowledge of financial reporting and management accounting
Expertise in your chosen specialty area
Broad understanding across all technical competencies
Success in the CFE requires thorough preparation. CPA Canada, the national organization that represents and supports the accounting profession in Canada, provides resources, including past exam cases and marking guides, to help candidates understand the examination format and expectations.
