Academic Prerequisite
Assessment Guidelines
A Guide for Prospective andCurrent Students on the CPA PathFEBRUARY 2024

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIO

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOACADEMIC
PREREQUISITEASSESSMENTGUIDELINESACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
2

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOCONTENTS
ENROLMENT REQUIREMENTS FOR CPA PREPARATORY COURSES

5ADMISSION REQUIREMENTS FOR THE CPAPROFESSIONAL EDUCATION PROGRAM

5DEGREE REQUIREMENT

5

PREREQUISITE COURSE REQUIREMENT

5CONDITIONAL ENROLMENT IN TO THE CPA PEP

6ADDITIONAL DETAILS: DEGREE REQUIREMENT

6DEGREE TOP-UP

6

EXEMPTION FROM THE DEGREE REQUIREMENT VIA MATURE STUDENT CATEGORY

7

INTERNATIONAL DEGREE EQUIVALENCY

7ADDITIONAL DETAILS: PREREQUISITE COURSE REQUIREMENT8EARNING EXEMPTIONS TO CPA PEP PREREQUISITES8MINIMUM GRADE REQUIREMENT

9CHANGES TO CPA PEP PREREQUISITES10CALCULATING GRADE POINT AVERAGE (GPA)

12

REPEATING COURSES

13

CONVERTING LETTER GRADES TO NUMERICAL GRADES

13

CURRENCY OF EDUCATION FOR ADMISSION INTO CPA PEP

14

EXEMPTION FROM THE CURRENCY OF EDUCATION REQUIREMENT

15RECOGNITION OF TRANSFER CREDITS

16RECOGNITION OF ANTI-REQUISITE COURSES

17

RECOGNITION OF NON-CANADIAN COURSES IN BUSINESS LAW AND TAXATION

18

RECOGNITION OF CONTINUING EDUCATION COURSES

18

SPECIAL GRADES

19

COURSE MIXING

20ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
3

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOThis document provides a high-level summary of the key policies, guidelines, and regulations forprospects and students pursuing the CPA designation through the CPA Pathway for certification. For
more information on the CPA certification program, please review:
CPA Ontario Regulation 9-1 Student Registration, Obligations and Standing
CPA Ontario Regulation 9-1 Student Registration, Obligations and Standing Appendix C –CPA Harmonized Education Policies
CPA Ontario Regulation 9-1 Student Registration, Obligations and Standing Appendix E –Transcript Assessment Policy
CPA Ontario Regulation 9-1 Student Registration, Obligations and Standing Appendix F –Transfer Credit Policy
CPA Competency Map
CPA National Recognition and Accreditation Standards for PSIs

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
4CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOENROLMENT REQUIREMENTS FOR CPA
PREPARATORY COURSES
In addition to good character, one of the following requirements must be met in order to enrol in
CPA preparatory courses:
30 credit hours of academic study or equivalent, consisting of courses from a recognized postsecondary institution (PSI) or from specific educational institutions (i.e. College Board Advanced
Placement, International Baccalaureate, A-Level, and General Certificate of Education);
Three years of relevant accounting or business work experience satisfactory to the Registrar.
Courses completed at recognized PSIs may also be considered towards CPA preparatory course
exemptions based on an assessment of their coverage of the CPA competencies as set out in the
CPA Competency Map.

ADMISSION REQUIREMENTS FOR THE CPAPROFESSIONAL EDUCATION PROGRAM
In addition to good character, the following two requirements must be met in order to gain admission into
the CPA Professional Education Program (CPA PEP):

DEGREE REQUIREMENT
The conferral of a four-year undergraduate degree or other equivalent indicator of academic achievement
comprising 120 credit hours or equivalent (CPA Ontario Regulation 9-1 s. 1.18)

PREREQUISITE COURSE REQUIREMENT
The successful completion of the entry prerequisite courses in each CPA competency area at a postsecondary institution (PSI) or through CPA preparatory courses. Successful completion is defined asmeeting the minimum grade requirement (50% in each non-core course, 60% in each core course), gradepoint average (65% calculated by averaging grades in each core course), and currency of education.
If you have not met the admission requirements for the CPA PEP, you must complete additional degreecredit courses at a post-secondary institution (PSI) or CPA preparatory courses to top up your degree
credit hours and/or prerequisite education.
For a full list of programs and courses offered by Canadian post-secondary institutions that have beenrecognized by the CPA profession for meeting the prerequisite course requirement, please click here.
For more information on CPA preparatory courses, please click here.
NOTE: If you have met the enrolment requirements for CPA Preparatory courses (i.e. 30 credit hours
or 3 years of relevant experience) but have not met the degree requirement, you will not be permitted
to enroll in the CPA PEP. You will have 7 years from the time you are registered as a student with CPA
Ontario in order to satisfy the degree requirement or earn an exemption from the degree requirement via
the Mature Student category.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
5CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOCONDITIONAL ENROLMENT IN TO THE CPA PEP
In accordance with CPA Harmonized Education Policies Vol. 1 s. 1.3, you may conditionally enrol into the
CPA PEP if you can provide documentation showing that all the requirements for admission in to the CPA
PEP will have been met prior to the start of the CPA PEP module for which you are seeking enrolment.
Acceptable documentation may include academic transcripts, official letters confirming program
completion from the post-secondary institution's Registrar's Office, and/or any other documentation as
required by CPA Ontario.

ADDITIONAL DETAILS:
DEGREE REQUIREMENT
DEGREE TOP-UP
If you have conferred a degree from a recognized post-secondary institution (PSI) but have notcompleted 120 credit hours of academic study or equivalent, you can top-up your degree through
CPA preparatory courses or through a post-secondary institution. Each CPA preparatory course is
3 credit hours*.
EXAMPLE

TOP-UP OPTIONS• You have a 3-year (90 credit hour) degreefrom a Canadian post-secondary institution;or

30 credit hours’ worth of study at a PSI;
 0 credit hours’ worth of study through3
CPA preparatory courses; or• You have a degree from a recognizedinternational post-secondary institution thatis equivalent to a Canadian 3-year (90 credithour) degree

 combination of the above totaling 30
acredit hours

Credits from exam-only courses/programs do not meet the definition for credit hours(Regulation 9-1 s. 1.8) and thus, are not considered towards degree credit hour top-up.
CPA PREPARATORY COURSECREDIT
HOURS

CORE

NON-COREMINIMUM
GRADE

Introductory Financial Accounting (IFA)

350%

Introductory Management Accounting (IMA)

3

50%

Economics (ECO)

350%

Statistics (STA)

350%Intermediate Financial Reporting 1 (IF1)360%Intermediate Financial Reporting 2 (IF2)3

60%

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
6

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOCPA PREPARATORY COURSECREDIT
HOURS

CORE

NON-COREMINIMUM
GRADE

Advanced Financial Reporting (AFR)

360%

Corporate Finance (COF)

3

60%

Audit and Assurance (AUA)

360%

Taxation (TAX)

360%Intermediate Management Accounting (MAA)

360%

Performance Management (PMA)

360%

Business Law (BUL)

3*

50%

Information Technology (ITE)

3*

60%

* Prior to April 1, 2017, the credit hour allocation for Business Law (BUL) and Information Technology (ITE) was 1.5 credit hours per course.

The examples provided below are intended as a guide only. An official transcript assessment is required
for a complete assessment of your pre-requisite education. Please review Regulation 9-1 s. 1.8 for thedefinition of credit hours.

EXEMPTION FROM THE DEGREE REQUIREMENT VIA MATURE STUDENTCATEGORY
If you have at least eight years of relevant accounting or business work experience satisfactory to theRegistrar, you may apply for an exemption from the above degree requirement as a Mature student(Regulation 9-1 s. 9.5).
If an exemption to the degree requirement is granted, you must still meet the prerequisite course
requirement in order to gain admission in to the CPA PEP. In accordance with Regulation 9-1 s. 66.2.1,
exemptions from the academic prerequisites can only be awarded based on degree-credit courses (orequivalent academic learning) recognized by CPA Ontario. While practical experience is an extension ofacademic learning, CPA Ontario cannot equate the competencies and knowledge topics that are required
for admission and success in CPA PEP with the duties and responsibilities of a student in apractical setting.

INTERNATIONAL DEGREE EQUIVALENCY
Effective January 1, 2020, as part of any Transcript Assessment submission, applicants who havecompleted courses and/or degree programs at a post-secondary institution (PSI) outside of Canada
must provide an ICAP Course-by-Course credential evaluation carried out by World Education Services
Canada (WES). For applicants who have completed courses and/or programs in Canada, CPA Ontario willcontinue to accept transcripts that are sent directly to CPA Ontario from the Registrar's Office of the PSI
by postal mail, or emailed directly to CPA Ontario through an approved education credential platform(i.e. Parchment, MyCreds, National Student Clearinghouse) to transcriptregistration@cpaontario.ca.
For more information about the documentation requirements, please review theTranscript Assessment Policy.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
7

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOADDITIONAL DETAILS: PREREQUISITECOURSE REQUIREMENTEARNING EXEMPTIONS TO CPA PEP PREREQUISITESIn order to meet the prerequisite course requirement, you must successfully complete courses that meetthe entry-level proficiency for each CPA technical competency as outlined in the CPA Competency Map.
The CPA profession has recognized courses from post-secondary institutions (PSIs) across Canada as
meeting the necessary breadth and depth requirements for admission in to the CPA PEP. For a list ofthese recognized courses and programs, please click here.
If you have completed a degree-credit course that is not listed on a CPA course chart and would like thecourse reviewed for recognition, you must submit a course outline/syllabus. The course outline or syllabus
submitted must correspond with the academic year/term from which the course was completed. CPA
Ontario will review the course syllabus and confirm whether the course completed covers the subjects
contained in the CPA Competency Map.
A course outline/syllabus should include the following:• University/college letterhead, symbol, logo, etc.
• Course details (course name/number, term, year, lecture times, instructor details, prerequisite(s)/co-requisite(s))• Course overview including learning outcomes and course description• Deliverables/course structure (assignments, quizzes, midterm, final exam, etc.)• Course material required (e.g. Textbooks) and tutorial/laboratory requirements (if applicable)• Detailed weekly topic listing or syllabus (includes description of lecture topics, assigned readings,
etc.)
A course description does not usually provide enough information for the purposes of reviewing thesubstantial equivalence of a course to the CPA Competency Map and may be grounds to deny a CPA
preparatory course exemption. Additionally, if a syllabus is not in English, it needs to be translated into
English by an approved ATIO translator.
NOTE: In accordance with Regulation 9-1 s. 66.2.1, exemptions from the academic prerequisites canonly be awarded based on degree-credit courses (or equivalent academic learning) recognized by CPA
Ontario. While practical experience is an extension of academic learning, CPA Ontario cannot equate thecompetencies and knowledge topics that are required for admission and success in CPA PEP with theduties and responsibilities of a student in a practical setting.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
8CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOMINIMUM GRADE REQUIREMENT
Students are required to meet the following grade standards:• A passing grade or 50% (whichever is higher) in each applicable non-core course (or equivalent, if
completed at a post-secondary institution)• A passing grade or 60% (whichever is higher) in each applicable core course (or equivalent, if
completed at a post-secondary institution); and• A grade point average (GPA) of 65%, calculated by averaging grades across all core courses.
NON-CORE CPA PREREQUISITE• Introductory Financial Accounting (IFA)GRADE REQUIREMENT
50% in each course• Introductory Management Accounting (IMA)• Economics (ECO)• Statistics (STA)• Business Law (BUL)
CORE CPA PREREQUISITEGRADE REQUIREMENT• Intermediate Financial Reporting I (IF1)

60% in each course &• Intermediate Financial Reporting II (IF2)

65% average across all core
courses• Advanced Financial Reporting (AFR)• Corporate Finance (COF)• Audit and Assurance (AUA)• Taxation (TAX)• Intermediate Management Accounting (MAA)• Performance Management (PMA)• Information Technology (ITE) Effective May 1, 2022

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
9CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOCHANGES TO CPA PEP PREREQUISITESINFORMATION TECHNOLOGY (ITE)

Effective May 1, 2022, Information Technology (ITE) has become a core course. As a resultof this change, the course's structure and requirements will align with other core courses,
including a passing grade of 60% or higher. Students taking a recognized Information
Technology course at a post-secondary institution after this date will be required to meetthe core course grade and currency of education requirements.
In addition, if the IT course was completed prior to May 1, 2022, it will be accepted as a
non-core course for granting of prerequisite exemptions and admission to the CPA Professional
Education Program (CPA PEP). However, the following will be required for admission to the
CPA PEP after May 1, 2022:• a passing grade or a grade of 50%, whichever is higher• currency of education (10 years), which will expire May 1, 2032
• inclusion in the minimum grade point average (GPA) requirement of 65% (or equivalent)for core courses
For more information about changes to the IT CPA preparatory course, please refer to theFrequently Asked Questions.

EXPERIENTIAL LEARNING POLICY

The 120 credit-hours or equivalent of education requirement for admission to the CPA PEP
can include a maximum of 30 credit hours associated with experiential learning course
credits. Experiential learning course credits may not be used towards exemptions from entry
prerequisites and/or accredited PEP courses. The experiential learning course credits must be
formally recognized by the PSI as degree-credit towards credential completion. For details
regarding experien­tial learning, please contact your provincial/regional body.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
10CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIODATA ANYALYTICS AND INFORMATION SYSTEMS (DAIS)The CPA profession added Data Analytics and Information Systems (DAIS) to the CPA
Competency Map and it is a testable topic on the Common Final Examination (CFE). DAIS isan additional core topic requirement that has been integrated throughout the six technicalcompetencies and in the CPA Canada Preparatory Courses. Students are expected to havean introductory-level understanding of DAIS topics prior to entering the CPA Professional
Education Program (PEP). DAIS topics can be learned through completion of CPA preparatory
courses and/or through successful completion of the relevant course(s) at a post-secondary
institution. Students registered in the PEP will have the opportunity to refresh theirunderstanding of DAIS topics in the Introduction to PEP module.
Frequently Asked Questions
Why is it important to understand DAIS topics before entering the CPA Professional Education Program(PEP)?

The current business landscape is increasingly data-driven. Employers of CPAs have expressedthat data analytics is quickly becoming a necessary skill for careers in accounting and finance.
As a result, data analytics and information systems (DAIS) was added to the CPA Competency
Map and is a testable topic on the Common Final Examination (CFE).
If I completed my degree requirements before September 1, 2023, do I need to take the DAIS course(s)offered by my post-secondary institution prior to enrolling in the CPA Professional Education program(PEP)?

No, students who have completed their degree program requirements before September
1, 2023, will not need to go back to complete the DAIS course(s) offered by their postsecondary institution. Students registered in the PEP will have the opportunity to refresh theirunderstanding of DAIS topics in the Introduction to PEP module.
If I am completing my degree requirements on or after September 1, 2023, do I need to take the DAIS
course(s) offered by my post-secondary institution prior to enrolling in the CPA Professional Education
program (PEP)?

DAIS is a testable topic on the Common Final Examination (CFE). Students are expected tohave an introductory-level understanding of DAIS topics prior to entering CPA PEP. Students
who are at a post-secondary institution in Ontario or Canada that is offering DAIS as part ofthe program’s academic course prerequisites are expected to have completed all prerequisite
requirements as required by the post-secondary institution program.
Is there a stand-alone CPA preparatory course that I can take to meet the DAIS topic requirement before
entering the CPA Professional Education Program (PEP)?

DAIS topics have been integrated throughout the existing CPA preparatory courses. The CPA
profession does not offer a stand-alone preparatory course to fulfill the DAIS topic requirement.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
11

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOCALCULATING GRADE POINT AVERAGE (GPA)Your GPA is calculated by averaging your grades across all core courses completed through a Canadianpost-secondary institution (PSI) or CPA preparatory courses. If multiple courses from a PSI are requiredin order to earn an exemption from a CPA prerequisite, each course must meet the minimum grade
requirement and each course will be included in the GPA calculation. Please note that GPA is calculated
once you have completed all the prerequisite courses for admission in to the CPA PEP.
Courses that are excluded from the GPA calculation include:• Courses completed at an international academic institution;• Courses recognized by CPA Ontario under the terms of the CPA Ontario Transfer Credit Policy; and• Courses recognized by CPA Ontario based on transitional provisions for legacy students.
• Courses completed at an academic institution where a special grade was awarded. A special
grade refers to a grade that does not reflect the standardized letter or numerical measurement ofachievement in a course. Examples of special grades include, but not limited to, Aegrotat, Credit/No
Credit, Pass/Fail, and Satisfactory/Not Satisfactory.
Scenario 1
You have completed all 14 CPA preparatory courses through CPA Ontario. You received the following
grades in the core courses:• Intermediate Financial Reporting I (IF1)90%• Audit and Assurance (AUA)

65%• Intermediate Financial Reporting II (IF2)95%• Taxation (TAX)			70%

• Advanced Financial Reporting (AFR)85%• Corporate Finance (COF)			

75%• Intermediate Management
Accounting (MAA)			80%
• Performance Management (PMA) 60%

You meet the minimum grade requirement for each core course ou meet the GPA requirement (77.5%). The sum of grades for all core courses (620) divided by theYtotal number of core courses (8) = 77.5%
Scenario 2
As part of an undergraduate degree in business, you completed several courses equivalent to CPA
prerequisites. For Finance and Performance Management, you are required to complete 2 courses at a
PSI in order to earn the exemption to the preparatory course. You received the following grades:
Intermediate Accounting 1 (PSI course)

65%

Audit and Assurance (AUA)

85%

Intermediate Accounting 2 (PSI course)

70%

Taxation (TAX)90%

Advanced Financial Reporting (AFR)

75%

Intermediate Management Accounting (MAA) 80%

Finance 1 (PSI course)

80%

Strategic Management 1 (PSI course)

70%

Finance 2 (PSI course)

80%

Strategic Management 2 (PSI course)

90%

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
12CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIO

Scenario 2
You meet the minimum grade requirement for each core course ou meet the GPA requirement (78.5%). The sum of grades for all core courses (785) divided by totalY
number of core courses (10) = 78.5%

REPEATING COURSESCPA Ontario will consider the highest grade in the instance where a student elects to repeat a course
in order to increase their grade point average, so long as that attempt is in accordance with all relevanttranscript assessment policies, including but not limited to, the currency of education policy.

CONVERTING LETTER GRADES TO NUMERICAL GRADES
If your undergraduate transcript only shows letter grades, the below tables are used to convert letter
grades into numerical grades. If your transcript shows letter grades and numerical grades, the numerical
grade shown on the transcript will be used.
Standard (Grading scale for all Ontario PSIs with the exception of those listed below)
A+

A

A-

B+

B

B-

C+

C

C-

D+

D

D-

95

89

83

78

75

72

68

65

62

58

55

52

Alternate 1 (Fanshawe College, Seneca College, York University)
A+

A

B+

B

C+

C

D+

D

95

85

77

72

67

62

57

52

Alternate 2 (Laurentian University – before Fall 2014, University of Ottawa)
A+

A

A-

B+

B

C+

C

D+

D

95

87

82

77

72

67

62

57

52

Alternate 3 (George Brown College)
A+

A

A-

B+

B

B-

C+

C

C-

D+

D

95

89

83

78

75

72

68

65

62

57

52

Alternate 4 (Sheridan College – before Fall 2017)
A+

A

B+

B

C+

C

D

95

85

77

72

67

62

55

Alternate 5 (University of Ontario Institute of Technology)
A+

A

A-

B+

B

B-

C+

C

D

95

89

83

78

75

72

67

62

55

In instances where a unique grading system is used by a PSI, CPA Ontario will use the conversion scalethat best matches the grading system used by the respective PSI.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
13

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOCURRENCY OF EDUCATION FOR ADMISSION INTO CPA PEP
Requirements and Exemptions
In accordance with the CPA Harmonized Education Policies Vol. 1 s. 1.1.3, for admission into the CPA
PEP, you should have completed at least one applicable core prerequisite course in each of the CPA
competency areas within 10 years of your CPA PEP Commencement Date (Regulation 9-1 s. 1.12).
NON-CORE CPA PREREQUISITE

CORE CPA PREREQUISITE• Introductory Financial Accounting (IFA)• Intermediate Financial Reporting I (IF1)• Introductory Management Accounting(IMA)• Intermediate Financial Reporting II (IF2)• Advanced Financial Reporting (AFR)• Economics (ECO)• Corporate Finance (COF)• Statistics (STA)• Audit and Assurance (AUA)• Business Law (BUL)• Taxation (TAX)• Intermediate Management Accounting (MAA)• Performance Management (PMA)• Information Technology (ITE)SCENARIO 1

You completed twocourses that have beenrecognized by CPA
Ontario as meeting theTaxation prerequisite lessthan 10 years ago.
SCENARIO 2

You completed theequivalent of Intermediate
Financial Reporting 1,
Intermediate Financial
Reporting 2, andAdvanced Financial
Reporting at a PSI over 10
years ago.

ELIGIBLE FOR
EXEMPTION(S)?
Yes

RATIONALE

Each of the prerequisite courses werecompleted within the last 10 years.

ELIGIBLE FOR
EXEMPTION(S)?
NoRATIONALE

Each of the prerequisite courses werecompleted over 10 years ago. CPA Ontario
recommends that you complete all threeprerequisite courses to ensure that yourknowledge is current.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
14

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIOEXEMPTION FROM THE CURRENCY OF EDUCATION REQUIREMENT
In accordance with the CPA Harmonized Education Policies Vol. 1 s. 1.1.3, if you have significant and relevant
work experience, you may apply for a full or partial exemption from the currency requirement for a
prerequisite course if you have successfully completed a relevant course more than 10 years priorto admission to CPA PEP. Work experience is assessed to determine whether the relevant technicalknowledge has been demonstrated in practical settings in the competency area for which the currency
exemption is sought.

Partial Exemption

Three years of practical experience in thecompetency area seeking an exemption and at
least one competency sub-area at Level 1.

Challenge exam for the
associated preparatory course

If the exemption is being sought for a course
relating to Financial Reporting or Management
Accounting, five years of practical experience inthe competency area seeking an exemption andat least three competency sub-areas at Level 1.

Full exemption

For all other competency areas, five years
of practical experience in the competencyarea seeking an exemption and at least twocompetency sub-areas at Level 1.
Level 1 is experience at a professional level, but lower than expected of a newly certified CPA. This
includes tasks which are routine in nature, of a low level of complexity and/or executed with a lower
level of autonomy. Please review the CPA Practical Experience Requirements (CPA PER) for information
on proficiency levels and competency areas. For examples of the competency statements for eachproficiency level, please review the Experience Verification Route Proficiency Levels.
NOTE: In accordance with Regulation 9-1 s. 66.2.1, exemptions from the academic prerequisites canonly be awarded based on degree-credit courses (or equivalent academic learning) recognized by CPA
Ontario. While practical experience is an extension of academic learning, CPA Ontario cannot equate thecompetencies and knowledge topics that are required for admission and success in CPA PEP with theduties and responsibilities of a student in a practical setting.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
15

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIO

RECOGNITION OF TRANSFER CREDITSIn accordance with the CPA Ontario Transfer Credit Policy, CPA Ontario will recognize transfer credit
courses awarded by a Canadian post-secondary institution towards the conferral of a recognized degree,
based on courses that have been completed at another academic institution. Transfer credit courses will
also be recognized by CPA Ontario for the purpose of fulfilling the prerequisite course requirement foradmission to the CPA Professional Education Program (CPA PEP).
Examples of acceptable transfer credit courses include:• A college diploma course;• A non-degree credit course, typically offered by a school of continuing education;• A degree-credit course;• A special pre-university course (i.e. International Baccalaureate, College Board Advanced Placement,
General Certificate of Education, A-Level); and• A course from an academic institution in another country, including exchange courses.
CPA Ontario requires official transcripts from the Canadian post-secondary institution to show thefollowing items for a complete assessment of transfer credit recognition:• name(s) of all previous institutions attended where the transfer credit was completed;• course code(s), course name(s), credit hour(s), year(s)/term(s), and final grade(s) earned at
previous academic institutions where the transfer credit was completed; and• total number of credit hours granted by the Canadian academic institution towards the conferral ofa degree.
If a student cannot provide an official transcript showing the above required information, the student will
be required to:• submit a transcript from all previous academic institutions attended where the transfer credits werecompleted; and• submit a transfer credit letter from the accepting institution’s Registrar’s Office with the required
information noted above.
NOTE: All transfer credits are subject to the relevant transcript assessment policies, including but notlimited to, currency of education.
Scenario 1
You completed a 3-year diploma and subsequently transferred to a degree program at a degreeawarding post-secondary institution (PSI) in Ontario. Upon admission, you received a total of 60 transfer
credits, including exemptions for all of the CPA non-core courses and Finance 1. The course chart forthis PSI requires the completion of both Finance 1 and Finance 2 in order to meet the Corporate Financeprerequisite requirement.
	You are eligible to receive an exemption for all non-core courses. Upon successful completion of
Finance 2 at the PSI, you will have satisfied the Corporate Finance prerequisite requirement.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
16

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIO

Scenario 2
You completed a 2-year diploma at an Ontario College and subsequently transferred to a degree programat a degree-awarding PSI outside of Canada. Upon admission into the degree program, you were awarded
transfer credits towards the degree, including exemptions for all of the CPA non-core courses.
	You are not eligible for CPA preparatory course exemptions based on the courses completed
within the diploma. The transfer credit policy only applies when a Canadian academic institutionawards transfer credits towards the conferral of a degree.
Scenario 3
You are currently enrolled in a degree program at a Canadian PSI. Recently, you completed a termof study abroad as part of an exchange program. During the exchange, you completed a course instrategy. Upon returning to the Canadian PSI, a transfer credit for the course equivalent to Performance
Management is awarded.
	You are eligible to receive an exemption for Performance Management.
Scenario 4
You completed a diploma in accounting 12 years ago and have recently decided to earn a degree. Upon
admission to a recognized Canadian degree program, you are awarded transfer credits for all of the CPA
non-core courses and several CPA core courses, including Intermediate Financial Reporting 1 & 2.
You are eligible to receive an exemption for all non-core courses. Currency of Education does not apply
to non-core courses.
	You are not eligible to receive exemptions for core courses (Intermediate Financial Reporting 1 &2) due to the Currency of Education policy.

RECOGNITION OF ANTI-REQUISITE COURSES
If you have taken a course which is an anti-requisite to the course that is listed on the CPA course chart,
CPA Ontario will deem the completion of the anti-requisite course as having met the requirements for
exemption to the non-core prerequisite course requirement. For all core prerequisite courses, a course
outline/syllabus is required for review.
Scenario 1
You complete PSYC 201 (Statistics for Psychology), which is an anti-requisite to the course that is listedon the CPA course chart, STAT 101 (Statistics for Commerce).
	Anti-requisite for non-core prerequisite. You will be eligible for an exemption from the CPA
preparatory course, Statistics. You are responsible for providing proof that the course is ananti-requisite (copy of the relevant pages from the Academic Calendar of the post-secondary
institution).
Scenario 2
You complete ECON 359 (Finance for Economists), which is an anti-requisite to the course that is listedon the CPA course chart, FINE 300 (Financial Management).
	Anti-requisite for core prerequisite. You will need to submit a course syllabus for both courses (i.e.
ECON 359 and FINE 300) for review.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
17

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIO

RECOGNITION OF NON-CANADIAN COURSES IN BUSINESS LAW ANDTAXATION
If you have successfully completed a course in Business Law from a non-Canadian post-secondary
institution that substantially meets the required prerequisite knowledge in the CPA Competency Map, you
may be granted an exemption from the Business Law prerequisite course by completing the Canadianbusiness law course for internationally-trained accountants and students, an online course offered by CPA
Canada. A transcript assessment with course syllabi/outlines are required for CPA Ontario to assess youreligibility for the CPA Canada online course. If you are eligible to take this course, you will be notified by
CPA Ontario. Courses in Taxation require prerequisite knowledge of Canadian tax and must be completed
in Canada.

RECOGNITION OF CONTINUING EDUCATION COURSES
In accordance with Section 4 of the CPA National Recognition and Accreditation Standards for PostSecondary Institutions, CPA Ontario has recognized the courses offered by select continuing education
programs as being substantially equivalent to degree-credit courses. The following academic institutions
have achieved this standard:
POST-SECONDARYINSTITUTIONDATE OF CPAONTARIO APPROVALCARRYBACK PERIOD

September 4, 2015

Courses taken in the Fall 2012 term or afterat the Centre for Continuing Education at
McMaster University will be accepted by
CPA Ontario. Exception: ACC 931 – Auditing
will only be accepted if completed in theWinter 2016 term or after.

July 24, 2015

Courses taken in the Fall 2012 term or afterat the Faculty of Continuing Education andTraining at Seneca College will be accepted
by CPA Ontario.

University of Toronto
School of ContinuingStudies

July 27, 2015

Courses taken in the Fall 2012 term or afterat the School of Continuing Studies at the
University of Toronto will be accepted by
CPA Ontario.

York University

September 1, 2016

N/A – program is new

McMaster University
Centre for Continuing
Education

Seneca College
Faculty of Continuing
Education and Training

School of ContinuingStudies

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
18

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIO

SPECIAL GRADESA special grade refers to a grade that does not reflect the standardized letter or numerical measurementof achievement in a course. Examples of special grades include, but are not limited to, Aegrotat, Credit/
No Credit, Pass/Fail, and Satisfactory/Not Satisfactory. If a Canadian post-secondary institution (PSI)
awards a special grade that is deemed to be a passing grade but the awarding of such a grade is not
the result of an extraordinary circumstance, transfer credit, or, participation in an international exchange
program, CPA Ontario will consider such special grades to be equivalent to the higher of:• the lowest passing grade as defined by the post-secondary institution; or• 50%.
If the special grade was awarded as a result of an extraordinary circumstance, CPA Ontario will accept
a maximum of 1 academic term towards the exemption of CPA prerequisite courses. The course(s)accepted by CPA Ontario will be considered in the same manner as a transfer credit and will not be
included in the calculation of the grade point average. If there are multiple terms for which a student hasreceived a special grade as a result of an extraordinary circumstance, CPA Ontario will accept the courses
from the first academic term towards the exemption of CPA prerequisite courses. For any subsequentacademic terms and/or courses, CPA Ontario will consider those grades to be equivalent to the higher ofthe lowest passing grade as defined by the post-secondary institution or 50%. Alternatively, the student
has the option to provide the numerical grade. If the student is unable to provide the numerical grade
CPA Ontario will request and review additional documentation from the PSI to explain the extraordinary
circumstance and determine if an exemption can be considered.
Extraordinary circumstances are defined as external, unanticipated and beyond the control of theindividual. They do not include events that could have been foreseen, controlled, or avoided. The
applicant is responsible for providing evidence of the extraordinary circumstances.
NOTE: CPA Ontario recognized an interim special grades policy in effect for COVID-19 affected semesters
from January 1, 2020 to December 31, 2021. Students were permitted to select a pass/fail option for coreand non-core CPA prerequisite courses throughout this period. Special grades awarded between January
1, 2020 to December 31, 2021 are accepted in addition to the current special grade policy, noted above.
Scenario 1
You selected a special grade option for two core CPA prerequisite courses: one in Fall 2020 and one in
Winter 2022. Your post-secondary institution awards a pass and/or credit for each core CPA prerequisite
course.
	The interim special grade policy for COVID-19 affected semesters is applied to the Fall 2020
course. The current special grade policy is applied to the Winter 2022 course. CPA Ontario
will accept the special grades and exclude both core-courses from the grade point averagecalculation. Additional documentation is not required.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
19

CHARTERED PROFESSIONAL ACCOUNTANTS OF ONTARIO

Scenario 2
You selected a special grade option for three core CPA prerequisite courses: one in Fall 2020, one in
Winter 2022 and one in Spring 2022. Your post-secondary institution awards a pass and/or credit foreach course.
	The interim special grade policy for COVID-19 affected semesters is applied to the Fall 2020
course. The current special grade policy is applied to the Winter 2022 course. CPA Ontario will
accept the special grades and exclude the Fall 2020 and Winter 2022 courses from the grade
point average calculation. The Spring 2022 course is not accepted under either special grade
policy. CPA Ontario will not accept the special grade towards exemption of the prerequisite
course. Additional documentation is required, and the student may request the PSI provide thenumerical grade or an explanation of the extraordinary circumstance. CPA Ontario will review the
documentation from the PSI to determine if an exemption can be considered.

Scenario 3
You selected a special grade option for four core CPA prerequisite courses: two in Fall 2020, one in
Winter 2022 and one in Spring 2022. Your post-secondary institution awards a pass and/or credit foreach course.
The interim special grade policy for COVID-19 affected semesters is applied to both Fall 2020
courses. The current special grade policy is applied to the Winter 2022 course. CPA Ontario will
accept the special grades and exclude the two Fall 2020 courses and the Winter 2022 course
from the grade point average calculation. The Spring 2022 course is not accepted under either
special grade policy. CPA Ontario will not accept the special grade towards exemption of thecore prerequisite course. Additional documentation is required. The student may request the PSI
provide a numerical grade or an explanation of the extraordinary circumstance. CPA Ontario will
review the documentation from the PSI to determine if an exemption can be considered.

COURSE MIXING
A course mix occurs when you have completed prerequisite courses within a CPA competency area
(Financial Reporting, Strategy and Governance, Management Accounting, Finance, Audit and Assurance,
Taxation or DAIS) at more than one post-secondary institution (PSI).
CPA Ontario has recognized the prerequisite courses for each Ontario PSI based on the program’s
mapping of courses to the CPA Competency Map. The stream of courses recognized for each Ontario
PSI program may not cover the knowledge topics and the content in the same way as another program.
CPA Ontario cannot guarantee that an individual who completes courses within a CPA competency area
at more than one PSI will achieve a sufficient level of breadth and depth of content coverage in order tomeet the admission requirement for CPA PEP.
You are strongly encouraged to complete each of the required prerequisite courses within a CPA
competency area at a single PSI or through CPA preparatory courses. If you have mixed courses within
a CPA competency area from different PSIs, you may be required to submit course outlines/syllabus for
additional review.

ACADEMIC PREREQUISITE ASSESSMENT GUIDELINES
20