11. Do we have any kind of scholarships at any stage/component until we get CPA
designation?
No. We do not have any scholarships at any stage/component.
12. CPA exam is MCQ based or written?
CPA exam is case study based, solutions of which have to be typed on candidates’ laptop in a
software known as “Securexam” provided by CPA Ontario.
13. Is there any website reference to get detailed information?
Candidates can get detailed information on CPA Canada website (www.cpacanada.ca) and
CPA Ontario website (www.cpaontario.ca). Students can also check on the websites of the
parties mentioned in point 9 above.
14. What is the difference between membership and having a license? What are the
requirements to practice as a CPA in Canada?
When you are admitted to membership, you are awarded the CPA designation. In Ontario a
public accounting licence is required for members who wish to practice public accounting
once they are admitted – specifically, they want to be able to sign financial statements and
perform other services for which a licence is required pursuant to the Public Accounting Act,
2004. You may apply for a public accounting licence after your admission to membership by
completing an application, paying the prescribed fee and fulfilling additional requirements
above and beyond membership requirements in order to obtain and maintain a public
accounting licence. For more information on public accounting in Ontario, please visit the
public accounting section of the CPA website at https://www.cpaontario.ca/cpa-
members/obligations/public-accounting-licence.
You can also check the following link for detailed information on licensing:
https://www.cpaontario.ca/become-a-cpa/why-cpa/program-info/public-accountant-licence
15. What do I have to do if I want to obtain a public accounting licence?
Students who register under the MOU pathway who seek a public accounting licence are
required to successfully complete the Assurance and Taxation modules (full module and
exam) prior to writing the CFE. In addition, they are required to demonstrate depth of
competency in Financial Reporting and Assurance on the CFE. Students who elect not to
complete these two modules would be required to successfully complete an approved course
in Canadian business law and the Post Designation Public Accounting (PDPA) module and
examination.
16. Students who aren’t eligible to register under the MOU but can register under the
Member of an Accounting Body Outside Canada category may have to “challenge the
exams” for the first four modules. What does “challenge” mean?
“Challenge” means candidates are not required to attend the classes or complete the
assignments. Candidates are only required to write the final examination. Not applicable for
ICAI members who are covered under MOU.
Check the following link for detailed information on challenge exam: