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  • Writer's pictureCPA Atlantic School of Business

Technical update for 2022 CPA PEP examinations and the CFEs

Updated: Jan 25, 2022

CPA Atlantic School of Business would like to provide clarification on the reference material cut-off date and testable material used for the PEP and CFE examinations to be delivered in 2022. You are expected to use the reference material electronically provided.

As specified in the examination blueprints for the CPA PEP modules and the CFE, you are only responsible for the standards and regulations that are actually “in effect or substantively enacted” as of December 31st of the prior year. For the CFEs and for all CPA PEP module exams in 2022, this should be interpreted to mean that the following versions of standards and legislation are testable and are therefore included in the CPA Canada Standards and Guidance Collection (Exam Reference) material:

  • IFRSs in the CPA Canada Handbook - Accounting that are in effect up to and including January 1, 2022.

  • All other standards in the CPA Canada Handbook – Accounting (ASPE, ASNPO) and all standards in the CPA Canada Handbook – Assurance with an effective date of December 31, 2021, which are included in the December 2021 Handbook release (or prior).

  • Tax legislation substantively enacted (which includes legislation passing third reading in the House of Commons during a minority government) up to December 31, 2021.

To align with recent updates made to the competency map, the Excise Tax Act will be added to the reference materials this year to provide candidates with authoritative literature that they can consult and reference during the exam. The Management Discussion & Analysis – Guidance on Preparation and Disclosure section has also been added to provide an additional resource for candidates.

In addition, you are responsible for an awareness of changes that occur subsequent to the cut-off dates or that have been issued but are not in effect, at a Level C proficiency level at Core, and moving to Level B for the Assurance and Taxation Electives, based on the following competencies: