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.