Category: LatestBlogG

CPA Canada recently signed a new Memorandum of Understanding with ICAN Nigeria. If you’re a qualified ICAN member, the path to becoming a Canadian CPA is now much more direct. Many ICAN members have been reaching out with questions, so I want to walk through how this new process works and what you should focus on.

New ICAN-CPA Canada MOU

Before this agreement, ICAN members had to complete the CPA Canada Professional Education Program (PEP) with six modules before writing the final CPA exam. That requirement is now removed. You can go straight to the Common Final Exam, known as the CFE. Once you pass CFE, you receive your Canadian CPA designation.

CPA Canada recommends taking Capstone 1 and Capstone 2, but I don’t recommend them. Capstone 1 focuses on teamwork and presentations, which don’t appear on the CFE. Capstone 2 gives past exams with some feedback, but the feedback is usually generic. Most students get better results by practicing past exam cases and using focused study strategies.

Steps to CPA Canada for ICAN

Step 1: Confirm your eligibility

You must be a fully qualified ICAN member in good standing. You also need either:

• Recognized university degree, or
• At least 8 years of experience in any CPA competency area like Financial Reporting, Audit or Strategy.

You also must have obtained your ICAN designation while living outside Canada.

Step 2: Register for and pass the CFE

All ICAN members must pass the CFE. You get three attempts. If all three attempts are unsuccessful, your registration is cancelled and you would need to start over.

Most candidates study around 5–6 months. The CFE format is different from ICAN exams.

• Day 1 tests strategic writing
• Day 2 goes deep into your chosen role
• Day 3 tests breadth across all technical areas

The exam is case-based and very very time constrained. Cases are 4 to 5 hours long. You’ll write memos, analyze scenarios and explain your decisions. It’s less about calculations and more about judgment, time management and clear writing.

Key areas ICAN members need to study for CFE:

• Formatting your case responses clearly and effiienctly
• Canadian-specific standards like ASPE and Canadian tax
• Typing speed, because time pressure is high

Step 3: Meet the practical experience requirements

If you already have more than 2 years of post-designation ICAN experience, it’s accepted automatically. If you have less than 2 years, you’ll submit a detailed report for review. Your experience must come from your time as an ICAN student or member.

Getting your CPA doesn’t give you audit signing rights automatically. For that, you need a public accounting licence. That requires showing depth in Financial Reporting and Assurance on the CFE and completing your province’s licensing steps.

When choosing your CFE Day 2 role, you have Assurance, Performance Management, Tax or Finance. If you’re not sure which role to choose, Assurance is a flexible choice because it keeps pathways open in public practice. PM is also a good choice for ICAN members. You can reach out to me if you’re not sure which role to choose.

Step 4: Get study resources

CPA Canada provides the Learning Ebook and the optional Capstone modules. Most candidates also use private resources to prepare for CFE. Students in public practice firms like KPMG, PWC and EY all get extra support. Many MOU students do the same, because their academic background is rusty.

Check out Gevorg, CPA CFE exam coaching programs and learn how to pass. Our comprehensive courses cover every stage of the CPA CFE process, ensuring you’re fully prepared. With a proven track record of helping over 4,500 students succeed, you can be next.

CPABC members recently received a notice  about a new Collaboration Model. It’s an important update that ties directly to the broader shift I discussed earlier in my post about the CPA Ontario and CPA Québec separation from CPA Canada. This latest announcement marks another milestone in how the Canadian CPA profession is being reshaped. 

In short, the changes that happened to Ontario and Quebec in 2024 are now happening to CPABC.

What’s changing

CPABC, and potentially other provinces and territories, has agreed to move forward under a modernized collaborative model. This means:

• CPABC will continue regulating the profession in BC, granting the CPA designation, setting rules, and protecting the public interest.
• Funding will now flow differently. CPABC will no longer collect national dues on behalf of CPA Canada. Instead, standards and education will be funded through provincial fees.
• CPA Canada will adopt a new governance model, giving every Canadian CPA the chance to join directly with the national body.

In short, the old “Collaboration Accord” between CPA Canada and provincial bodies is ending, and a new structure is taking its place.

There’ll be change in responsibilities:

• Provincial bodies will focus on regulation, licensing, and member support.
• CPA Canada will focus on national standards, education, and advocacy.

This change may sound administrative, but it can have broader impacts.

What this means for members

For now, CPAs in BC, and potentially other provinces/territories, remain members of CPA Canada until April 1, 2026. After that, each CPA will have the option to sign up directly with CPA Canada under the new model. This is similar to what happened with CPA Ontario & Quebec and CPA Canada at the end of 2024.

CPA Canada has published a detailed FAQ about the process which I recommend that you review.

If you don’t keep your membership with CPA Canada from April 2026 onwards, you’ll still be a CPA BC member. You’ll pay lower dues, but you won’t have access to broader resources. 

On the other hand, if you do keep your membership with both CPA Canada and CPA BC, you’ll likely pay higher dues and access broader resources. 

There is no impact on the CPA exams. The exams are the same no matter what province you’re located.

What to expect

In the coming months, CPA Canada will share how members can join directly. Until then, nothing changes operationally for CPAs in BC and other provinces/territories. You’ll still pay your provincial dues as usual and remain a member of CPA Canada through your province.

This is a major signal that the national structure is evolving, aligning with the changes we’ve seen in the New 2027 CPA Professional Program.

As you continue on your journey towards your CPA designation, reach out to the Gevorg team for educational support.

The new 2027 CPA Canada Professional Program (CPAPP) is the most significant change to the CPA education pathway in years. While the four requirements to become a CPA in Canada remain the same (Entry, Education, Examination, Experience), the structure, modules, exams, and competency map are reshaped.

This blog is a comprehensive breakdown of the 2027 CPAPP, including transition rules, new module structures, exam formats, and key deadlines.

Transition rules and key dates

The new CPAPP program is set to launch on January 2027. If you’re already in CPA Canada’s current PEP (Professional Education Program) – or you will be accepted to PEP before Jan 2027 – you’ll have two options:

• Finish your CPA in the current PEP (no transition required)
• Voluntarily switch to CPAPP once it launches in Jan 2027

There’s a catch if you stay in PEP though. You’ll have until Dec. 2028 to complete all your exams, including CFE, or else you’ll be required to switch over to CPAPP.

Key dates are below:

• Jan. 2027 – Official launch of CPAPP (you can voluntarily transition at this point)
• Jan. 2027 – Final offering of  Core 1
• March 2027 – Pre-final Core 1 exam
• June 2027 – Final Core 1 exam (note: you have 2 attempts at Core 1, not 3, if you start it in the Jan 2027 term)
• May 2027 – First module offering under the new CPAPP
• May 2028 – Capstone 1 final offering starts
• July 2028 – Capstone 2 final offering starts
• Dec. 2028 – End of current PEP (you must finish or transition at this point)
• Jan. 2029 – Everyone is now in the new CPAPP

As of Fall 2025, we have 4 more  CFEs remaining:

• June 2026 CFE
• Sep 2026 CFE
• Sep 2027 CFE
• Sep 2028 CFE

This diagram from CPAWSB provides a great overview of the key dates. The table here from CPAO provide a breakdown of where you will end up if you decide to transition.

Should you transition?

For most candidates, I recommend NOT to transition. Both CPA Ontario and CPA Western recommend finishing the current program instead of switching early. My reasoning is similar, CPAPP is a brand new education program, with no past exams or precedents. The competency framework is also more complex and open-ended, while the current CFE is more predictable and familiar. I recommend switching to the new CPAPP only if you’re on your last attempt of PEP or CFE, and the new CPAPP will “reset” your attempts, giving you extra tries. However, this is still be confirmed by the CPA bodies, it’s not certain that you’ll get more attempts in the new program.

CPA PREP is no longer provided

Currently, university students without an accounting degree go through the PREP modules. That’s no longer the case after 2027. Students entering the new CPAPP will go through the following pathways:

• If you have an accounting degree, you’ll start directly at Module 1 called Foundational Development.
• If you don’t have an accounting degree, you’ll first write a Knowledge Assessment (KA), expected to be MCQ-based.

MOU international students transitioning

If you’re an MOU student, coming through agreements with other accounting bodies outside Canada, your transition depends on which parts of the CFE you’ve completed before 2027. If you’ve passed Day 1 only, you’ll receive partial exemptions but still need to complete most of the new exams. If you’ve passed Days 2 and 3, you’re in the best position, you’ll have only one module and one exam remaining under CPAPP.

Starting in 2027, CPA Canada will update MOU agreements, which may change exemption rules for future entrants. If you haven’t started the process before the transition, you’ll follow the new CPAPP structure, not the old PEP pathway.

I advise MOU students completing the CFE (especially Days 2 and 3) before Dec. 2028 as it will significantly reduce your workload.

New exams and formats

The current Core/Electives/Capstones structure will disappear. We’ll have four new modules in the 2027 CPA Professional Program:

• Foundational Development (FD)
• Core (CR)  (Licensing or Non-licensing path)
• Leadership (LD)
• Professional Readiness (PR)

Each of the modules will have an exam:

• Foundational Development Exam (FDE)
• Professional Final Exam 1 (PFE1)
• Professional Final Exam 2 (PFE2)
• Professional Final Exam 3 (PFE3)

Each module has a separate exam, unlike CFE where we have exams back-to-back. The PFE1–3 (Professional Final Exams 1, 2, 3) sequence effectively replace the single CFE.

Module 1 – Foundational Development (FD)

The first module is called Foundational Development. What we know so far:

• It covers Specific Competencies in areas like FR, Assurance & Trust, Analytics, Sustainability
• Introduces Foundational Competencies like Economics
• Tests on how you apply Decision Competencies, such as ethical mindset and professional skepticism

Module 2 – Core (Licensing vs. Non-Licensing)

The second module is Core. This is where you choose your path:

• Licensing version – required for public practice
• Non-licensing – general corporate route (note: I’m still waiting for confirmation on whether there’s a post-certification module you can take if you change your mind later on and decide to get licensed after getting CPA, such as the “PDPA” program we currently have)

This module tests more on Specific Competencies in such areas as financial reporting, assurance and trust, big data and analytics and taxation. For the licensing stream, there’s added depth in financial and non-financial reporting, assurance, taxation and data analytics to meet licensure requirements.

Module 3 – Leadership (LR)

The module teaches:

• How to deepen your CPA Ethical Mindset and CPA Advanced Professional Competencies.
• How to focus on decision-making, critical thinking, and integrated problem-solving.
• Integration of all competencies across topics such as finance, assurance, management accounting, sustainability, and EDI through case-based learning.

Module 4 – Professional Readiness (PR)

This is the final step to prepare you for application to CPA membership through an intensive, five-day in-person education experience culminating in the PFE 3.

You’ll learn:

• How to refine your CPA Ethical Mindset and mastery of CPA Advanced Professional Competencies.
• How to apply the CPA Code of Professional Conduct in real-world scenarios.
• Use case-based learning to navigate working as a team and navigating emerging global issues.

Work experience – The New PERT

The PER system is evolving into a three-step model with one bottleneck:

• Step 1: Foundational Work Experience: Max 8 months transferable from prior jobs (was 12 months under PERT)
• Step 2: Preparation of work plan: More information to be added in 2026.
• Step 3: Professional Work Experience: 16 months required. (Vacation time doesn’t count toward the 16 months, unlike current PERT)

Total required is now 24 months minimum, but realistically closer to 30 months with study breaks and vacation time.

Most importantly, you must complete all your work experience before the final PFE3 exam. This will be a major bottleneck. You can no longer delay experience until after exams.

Conclusion

The 2027 CPA Canada Professional Program is shorter in modules but broader in competency expectations. It emphasizes principles, decision-making, and real-world judgment. My recommendation are clear:

• Stay and finish in PEP if you can. The new exams will be more complex, with no prior exams to practice with.
• Finish your PERT as soon as possible. If you don’t finish by end of 2028, you’ll be required to switch to the new program and finish there.
• If starting fresh in 2027, get familiar early with CM 2.0.
• Stay on track with work experience in the new program.

For detailed updates, keep an eye on CPA Ontario and CPA Western announcements and my blog. I’ll continue releasing videos and articles as new details emerge.

As you continue on your journey towards your CPA designation, please reach out to the Gevorg team for tutoring and support.

Similar to prior CPA Canada Common Final Exams (CFEs), the September 2025 CFE had two Day 1, one Day 2 and three Day 3 cases.

The following Day 1 cases were tested in September 2025:

• Amuzu Parks Inc. (API) V2 (Download)
• Meadowlark Entertainment Inc. (MEI) V1 (Download)

The following Day 2 and Day 3 cases were tested:

• Day 2 (Download)
  • Sky City Towers Inc. (SCT) (300 minutes)
• Day 3 (Download)
  • Capsule Clothing Inc. (CCI) (90 minutes)
  • Fresh Air Beauty Inc. (FAB) (80 minutes)
  • Bijou Inc. (Bijou) (70 minutes)

For the June 2026* CFE, the following Day 1 cases will be tested:

• Karnat Bread Company Ltd. (KBC) v1
• Viviana’s Trattoria Ltd. (VTL) v2

*(Note: Usually CFEs are in May and September. For 2026, the May 2026 CFE has been delayed to June [June 2 to June 4], so it’s referred to as June 2026 CFE in this post.)

For the September 2026 CFE, the following Day 1 cases will be tested:

• Singular Textiles Corporation (STC) v1
• Meadowlark Entertainment Inc. (MEI) v2

There is no CFE in May 2027.

For the September 2027 CFE, the following Day 1 cases will be tested:

• Singular Textiles Corporation (STC) v2
• TBD, new case v1

Where can I get the Day 1 MEI v1 solution?

CPA Canada will NOT release the solution to MEI v1 until 2027. In the interim, I will write a sample answer to MEI v1. You can download it at the cases section of the Gevorg, CPA website, when available.

Are Day 2 and Day 3 solutions available?

CPA Canada will release the official solutions to September 2025 CFE cases in May 2026. 

Will I get MEI v1 solution in Capstone 2?

If you are registered for the Capstone 2 module for Spring 2026, you will NOT receive the solution to Day 1 MEI v1. You should download using the links above. If you are someone challenging the exam, such as an internationally trained accountant applying under MRA/MOU, please also download using the links above.

How do I prepare for the CFE?

There are several prep methods for the CFE. You will need to focus on these three items:

1. Technical knowledge
2. Case writing skills
3. Strategy

I speak a lot about these items on my YouTube channel and webinars. You can check out my latest webinar.

Technicals:

• Know the key topics on each of the competencies
• Distinguish depth from breadth
• Debrief

Case writing skills:

• It’s all about following the CPA Way
• Know your case inside out
• Integrate throughout the case

Strategy:

• Prepare a study plan
• Obtain study materials
• Get support and resources

Pass the CPA Canada CFE Exam

We are Gevorg CPA Coaching Team. To get help with passing your exams, sign up for my CPA CFE Review Course, for a comprehensive prep package.

Similar to prior CPA Canada Common Final Exams (CFEs), the June 2026 CFE will test two Day 1, one Day 2 and three Day 3 cases.

(Note: Usually CFEs are in May and September. For 2026, the May 2026 CFE has been delayed to June [June 2 to June 4], so it’s referred to as “June 2026 CFE” in this post.)

The following Day 1 cases will be tested in June 2026:

• Karnat Bread Company Ltd. (KBC) v1
• Viviana’s Trattoria Ltd. (VTL) v2

The following Day 2 and Day 3 cases will be tested in June 2026:

• Day 2
  • TBD (300 minutes)
• Day 3
  • TBD (usually 90 minutes)
  • TBD (usually 80 minutes)
  • TBD (usually 70 minutes)

For the September 2026 CFE, the following Day 1 cases will be tested:

• Singular Textiles Corporation (STC) v1
• Meadowlark Entertainment Inc. (MEI) v2

There is no CFE in May 2027.

For the September 2027 CFE, the following Day 1 cases will be tested:

• Singular Textiles Corporation (STC) v2
• TBD, new case v1

For the September 2028 CFE, the following Day 1 cases will be tested:

• TBD, prior case v2
• TBD, new case v1

Where can I get the solutions?

The solutions for June 2026 CFE exam cases will NOT be released by CPA Canada until 2027. In the interim, I will write sample answers to help you prepare for the September 2026 CFE.

When available, you can download as PDF and Excel from here. 

Will I get these cases in Capstone 2?

If you are registered for the Capstone 2 module for Summer 2026, you will NOT receive these cases at the module. You should download using the links above. If you are someone challenging the exam, such as an internationally trained accountant applying under MRA/MOU, please also download using the links above.

How do I prepare for the CFE?

There are several prep methods for the CFE. You will need to focus on these three items:

1. Technical knowledge
2. Case writing skills
3. Strategy

I speak a lot about these items on my YouTube channel and webinars. You can check out my latest webinar.

Technicals:

• Know the key topics on each of the competencies
• Distinguish depth from breadth
• Debrief

Case writing skills:

• It’s all about following the CPA Way
• Know your case inside out
• Integrate throughout the case

Strategy:

• Prepare a study plan
• Obtain study materials
• Get support and resources

Pass the CPA Canada CFE Exam

We are Gevorg CPA Coaching Team. To get help with passing your exams, sign up for CPA CFE Review Course, for a comprehensive prep package.

The exam case Singular Textiles Corporation (STC) case will be tested in September 2026 and September 2027 Common Final Exams (CFEs) on Day 1. The original Capstone 1 case will be made available to candidates enrolled in Capstone 1 and released later publicly by CPA Canada.

How do I prepare for Singular Textiles Corporation (STC) CFE Day 1?

On CFE Day 1, you will be presented with the same STC case and you will be required to analyze and answer new strategic and additional issues.

Follow these strategies:

• Step 1: Study the Capstone 1 original case well: It’s important that you know the Capstone 1 case inside-out. You will encounter the same users and similar industry challenges. I suggest making notes of the following key situational analysis factors:
  • Users
  • Mission, vision and values
  • Key success factors (KSF)
  • Strengths, weaknesses, opportunities and threats (SWOT)
  • Board objectives
  • Quantitative constraints (eg. covenants, financing options)
• Step 2: Know the Capstone 1 strategic issues: In Capstone 1, STC faced 4 major strategic issues and several minor issues. In the Day 1 CFE exam, you’ll get 3-5 new strategic issues.
• Step 3: Make note of the timeline: CFE Day 1 case is several years in the future and there are new issues to analyze. It helps to stay organized by creating a timeline of events as you are reading the case.
• Step 4: Understand key stakeholder preferences: STC case has several users who have opposing views. It’s important that you understand these user preferences as these will repeat in the CFE Day 1.

I strongly recommend practicing with supplemental mock exam cases. In Capstone 2, you will get 3 practice versions of the STC case. However, most writers find that this is not enough and feel unprepared.

Where can I get extra Singular Textiles Corporation mock exam cases?

I will prepare one (1) original Singular Textiles Corporation (STC) supplemental mock exam practice case to help you better prepare for the CFE Day 1. The mock exam case will be a realistic simulation of what you may get on your exam and cover typical AOs that you may find in your Day 1. The casepack will include the STC mock exam case, marking guide and the solution.

When ready, head over to the cases section of my website for a free preview.

 

 

 

The exam case Karnat Bread Company Ltd. (KBC) case will be tested in June 2026 Common Final Exams (CFE) on Day 1. The original Capstone 1 case will be made available to candidates enrolled in Capstone 1 and released later publicly by CPA Canada.

How do I prepare for Karnat Bread Company case for the CFE Day 1?

On CFE Day 1, you will be presented with the same KBC case and you will be required to analyze and answer new strategic and additional issues.

Follow these strategies:

• Step 1: Study the Capstone 1 original case well: It’s important that you know the Capstone 1 case inside-out. You will encounter the same users and similar industry challenges. I suggest making notes of the following key situational analysis factors:
  • Users
  • Mission, vision and values
  • Key success factors (KSF)
  • Strengths, weaknesses, opportunities and threats (SWOT)
  • Board objectives
  • Quantitative constraints (eg. covenants, financing options)
• Step 2: Know the Capstone 1 strategic issues: In Capstone 1, KBC faced 4 major strategic issues and several minor issues. In the Day 1 CFE exam, you’ll get 3-5 new strategic issues.
• Step 3: Make note of the timeline: CFE Day 1 case is several years in the future and there are new issues to analyze. It helps to stay organized by creating a timeline of events as you are reading the case.
• Step 4: Understand key stakeholder preferences: KBC case has several users who have opposing views. It’s important that you understand these user preferences as these will repeat in the CFE Day 1.

I strongly recommend practicing with supplemental mock exam cases. In Capstone 2, you will get 3 practice versions of the KBC case. However, most writers find that this is not enough and feel unprepared.

Where can I get extra Karnat Bread Company mock exam cases?

I will prepare one (1) original Karnat Bread Company (KBC) supplemental mock exam practice case to help you better prepare for the CFE Day 1. The mock exam case will be a realistic simulation of what you may get on your exam and cover typical AOs that you may find in your Day 1. The casepack will include the KBC mock exam case, marking guide and the solution.

When ready, head over to the cases section of my website for a free preview.

 

 

 

As you continue on your journey towards your CPA designation, being able to debrief and achieve competency efficiency becomes increasingly important. In fact, debriefing will likely become your main study method.

1. Know when to debrief

The most effective way to debrief is not too long after writing the case. This way, the case facts are fresh in your mind and time can be saved from avoiding having to read the case again. Debriefing the case the following day will be more realistic and effective in managing a work-study balance.

2. Understand the marking competencies and how it relates to you

CD – Know what you completed very well, but not always the optimal rank.
C – Know what you you completed correctly
RC / NC – Know what you were on the right track on, but needed to include more
NA – Know what assessment opportunities you missed

The objective is to achieve a C, noting that achieving a CD might mean you spent too much time on one assessment and could have used that time elsewhere. The goal is to do enough required for each assessment. Focus your attention on the assessments that are not at a level C.

3. Review the sample responses

A sample response will show the level of depth/breadth expected of a candidate writing under the time constraints. Review how you could have approached a quantitative and qualitative analysis more efficiently, what case facts might have been missed, etc. Think “What more did I need to include in my response?”.

4. Review the solution

The solution demonstrates a “best” response, meaning, under no time constraints. It should be noted that candidates are not expected to strive for perfection. However, the solution provides a resource to ensure that your notes are complete.

5. Create and organize your notes

Organize your notes by topic (i.e. Financial Reporting, Tax, etc.) and continue to add to them each debriefing session. Watch as your knowledge on the topics expand over time.

6. Give enough time to the debrief process

Do not rush the process of debriefing and making notes. Typically debriefing a case should take as long as it took you to write the case (i.e. debrief 2 hours for a 2 hour case).

While debriefing can be an intimidating process, it is a necessary process to ensure you are making the steps to improving with each and every case. Building this habit will make the CPA journey much more manageable.

Get effective CPA exam coaching

Check out Gevorg, CPA exam coaching and learn how to pass. Our comprehensive courses cover every stage of the CPA PEP process, including Assurance and CFE, ensuring you’re fully prepared. With a proven track record of helping over 4,500 students succeed, you can be next.

Update October 2025: New information released

Please see this NEW October 2025 BLOG POST on the deadlines and updates about the 2027 program.

As you may know, the CPA Canada Professional Education Program is going through some changes in 2027. At a recent CPABC meeting, several updates were shared about the new CPA education program that will launch in 2027. If you’re a CPA student right now, these changes directly affect you.

Here are the 5 key updates you need to know.

1. Deadline of Jan 1, 2029

Mark this date. By Jan 1, 2029, you must finish all CPA requirements. That includes:

• Core and elective modules
• Capstone 1 and Capstone 2
• CFE
• Practical experience reporting (PER)

If you don’t complete everything by this date, you will be required to transition into the new 2027 CPA Professional Program. And if you refuse, your enrollment will be cancelled.

Many students are behind on PER. If that’s you, you must start prioritizing your practical reporting now. I recommend to seek out a job that will add qualified practical experience. Also ask your supervisor for more tasks to meet the PERT Level 1 and Level 2 requirements and reach out for support if you’re behind on PER or don’t know where to start.

2. New program name: CPA Professional Program

The current CPA Canada Professional Education Program (PEP) will be replaced by the CPA Professional Program. The “E” (Education) is gone from the name, but the requirements remain:

• Education
• Exams
• Experience

There were rumours that PER would disappear under the new program. That’s not true. You will still need to meet the experience requirements.

3. Launch date on track for 2027

The profession confirmed the new CPA Professional Program is scheduled to launch in early 2027. This means you have a few years to finish under the existing system before the transition begins.

You will have an important decision to make in 2027. The new program will launch in early 2027. At that point, you can voluntarily transition to the new program and finish there (details on transition have not been released, but we’ll know soon). If you choose not to voluntarily transition in 2027, you will stay in the current PEP/CFE pathway until 2029 to finish. When Jan 2029 comes, you’ll have no choice but to transition.

So, should you voluntarily transition in 2027 or stick with the current program until 2029? With the info I have, I recommend to stay in the current program because we have so many past exams to practice with and you’re already familiar with current case writing techniques. I’d recommend to switch early in 2027 only if the new program has huge advantages, like unlimited attempts, easier cases, less technicals etc. The CPA education team told me that the new exams will be “much harder” and they’ll integrate lots of new things, like ESG, diversity, inclusivity, complex decision making.

4. Program is under build phase

CPA Canada team has completed the design phase of the new program and is now entering the build phase. This means that they will now begin developing the new program, including the exams and practice cases. 

5. Gevorg 2027 Program now under development

My team and I are already working on a new, cutting-edge 2027 exam tutoring and CPA prep program. We will support you with:

• Transitioning to the new program
• Study notes based on the updated competency map
• Mock exam simulations
• On-demand video lessons
• AI-integrated coaching
• Practical experience reporting support
• Integrated case banks
• Exam debrief guides
• Study plans and trackers

Our goal is to help you succeed no matter which program you end up in. Our 2027 study notes and cases will include sustainability and ESG reporting, emerging technologies, ethical decision-making, and integrated case analysis using the new five-step decision process.

We’ll be the first to provide materials that mirror exactly what the new program is designed to test.

Conclusion

If you’re a CPA Canada student, aim to finish by Jan 1, 2029. That way, you avoid the stress of moving into the new system and having to redo parts of the process, if needed.

Stay on top of your modules, CFE, and especially your PER. The earlier you plan, the easier it will be to cross the finish line. As you continue on your journey towards your CPA designation, please reach out to the Gevorg team for tutoring and support.

As you’re studying for your CPA Canada exams, especially for the Assurance elective and the Common Final Exam (CFE) – Assurance role, you’ll come across the concept of rollback audit procedures.

While the term might sound technical at first, rollback is a straightforward and effective audit technique. It’s used when prior year data is incomplete, unaudited, or needs to be verified indirectly. Think of it like time travel for auditors: you’re working backwards from the year-end to verify the beginning-of-year balance. 

In this article, I’ll explain rollback procedures in more detail and give tips on how to detect it during the CPA exam.

What are audit rollback procedures?

Rollback procedures involve starting with an account’s year-end balance and then adjusting for year’s transactions to verify the opening balance. Put simply, it means working backwards through the year to check if the beginning balance makes sense based on what happened during the year.

Why would auditors use it? Well, rollback is used when the opening balance can’t be trusted on its own. For example, let’s say last year’s audit wasn’t done, or the client is new and their prior F/S weren’t audited. Instead of assuming the opening balance are correct, auditors use rollback to rebuild opening balances from what they can verify: ending balance and transactions during the year.

For example, let’s say a company has $200,000 in inventory at year-end. During the year, they purchased $500,000 of inventory and sold $450,000 worth. The auditors want to verify the prior year balance (ie, opening balance).

You may recall the following formula from your MA studies: “Ending Balance = Opening Balance + Purchases – Sales”. This formula can be re-arranged to be like this: “Ending Balance – Purchases + Sales = Opening Balance”

We can use this formula and perform a rollback to check the opening balance:

• Year-end (Ending Balance): $200,000
• Less: Purchases: $500,000
• Add: Sales: $450,000
• Equals (Opening Balance): $150,000

So opening inventory balance is $150,000. If the company’s records also say they started the year with $150,000 in inventory, that supports the the balance. If it doesn’t match, that’s a red flag and auditors would investigate further

Overall, auditors use rollback procedures when:

• They didn’t audit the prior year’s financials
• The client has incomplete records or prior year detail is missing
• They need to verify opening balances (first-year audit or auditor switch)
• They want to test cut-off around the year-end
• They need to recalculate balances from partial data

Rollback procedures are commonly used in areas such as:

• Inventory
• PPE
• Accounts Receivable

How do you recognize it during CPA exam?

Rollback procedures are needed when direct evidence for an opening balance isn’t available. It is your go-to audit procedure when:

• The client switched auditors and you didn’t audit the prior year
• You’re testing opening balances
• You want to verify cut-off accuracy
• The client’s records are incomplete or unreliable

To get full marks on your CPA exam case, be clear and specific. Write a procedure like below:

“Perform rollback procedures by adjusting the current year’s ending balance for relevant transactions (e.g., purchases, sales, depreciation) to verify the accuracy of the opening balance.”

This shows markers that you understand both the purpose and the mechanics of the procedure.

Exam scenarios

Below are some common exam scenarios where speaking about rollback procedure makes sense.

Scenario: First-Year audit engagements

Context: Auditor is performing an audit for first time of client, thus they have no direct audit evidence from prior year’s financials. Auditor is still responsible for obtaining sufficient and appropriate audit evidence to ensure the opening balances don’t contain material misstatements 

Approach: Prior year working papers are unavailable or not fully reliable, because the previous audit firm did not share sufficient documentation. This means we must perform rollback procedures.

Procedure: Perform rollback procedure by recalculating the opening balance using the audited year-end balance and current year transaction details (such a JEs, GL, trial balance) to ensure the opening balances are not materially misstated in the absence of prior audited figures.

Scenario: Change in auditors

Context: A client changes audit firms, so the new auditor inherits balances that they didn’t originally verify. The risk increases if the prior auditor’s workpapers aren’t accessible or if there are concerns about prior audit quality.

Approach: Rollback procedure is necessary as the opening balances are inherited. It’s used to gather objective evidence rather than relying on unconfirmed prior year data.

Procedure: Perform rollback procedure by tracing transactions from the opening balance to the audited year-end balance using current year supporting documents, specifically invoices, JEs, bank statements, to ensure the opening balances are independently verified without relying on prior audit work.

Scenario: Cutoff testing or prior period errors

Context: Inventory purchase was recorded in early January but it might actually relate to December

Approach: If this cutoff is incorrect, it affects both inventory valuation and COGS, which impacts gross profit. You can recommend a rollback procedure here, because it allows auditors to determine whether the opening balances reflect appropriate cutoffs.

Procedure: Perform rollback on inventory balances using the year-end inventory figure and purchase activity near year-end to ensure transactions are recorded in the correct period and opening inventory reflects accurate cutoff.

Conclusion

Rollback audit procedures are used when dealing with opening balances, cut-off errors, or incomplete prior-year data.

They’re common and can appear in CPA exams. Consider rollback when you see the following next time:

• Prior year not audited
• Opening balance questionable
• Transactions well-documented but the start of year is messy…

Extra resources

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