1. Am I eligible to write the CFE (Common Final Exam) in Canada?
You need to be an Indian CA. You register with one of the Provincial CPA bodies or if you writing the exam in Western Canada (i.e. British Columbia, Alberta, Saskatchewan or Manitoba) with the CPA Western School of Business(CPAWSB).. If you are registering with CPA Ontario it could take between 8 - 12 weeks to register you and confirm you are eligible to write the CFE. Registration with CPAWSB is quicker. In our experience, if you have an Indian CA, you should not experience any problems registering and being able to write the Canadian CFE exam.
2. If I am an Indian or Pakistani CA - can I go directly to the final exam, the CFE?
If you are an Indian or Pakistan CA, you can go directly to the CFE and not have to take Capstone 1 and 2.
3. When is the CFE written?
The CFE written two times a year - late May and mid Sept.
4. Where do I write the CFE?
You write the CFE in the Canadian Province in which you registered. It does not really matter where you write, as the CFE is a Canadian wide exam, the same for everyone in Canada.
5. How many times can I write the exam?
You can write write 3 times in total.
6. How do I write the CFE?
The CFE is only written on the computer, using word and excel. It is an open book exam - you have access to the Handbook and Tax Act on the computer.
7. Is the exam very different than the one I wrote in India or Pakistan?
Yes - it is a case based exam and you will need to practice and learn case writing, in addition to being familiar with the technical. There are no multiple choice questions on the exam.
8. Can I bring in other resources to the exam?
9. Are all 3 days marked together?
No - Day 1 is marked separately - pass or fail. Day 2 and 3 are combinded and marked together, pass or fail. If you fail Day 1 or Day 2/3, you only have to re-write the day(s) you failed.
Indian and Pakistani CAs - Courses Offered
1. Does PASS have a dedicated course for Indian and International Students?
Yes, PASS has put together an extensive course specifically for Indian and International Students which covers both a technical review and intensive training on how to write CFE cases..
2. Does PASS incorporate Capstone 1 and 2 in the course?
Yes - Capstone 2 is duplicated. Students purchase the Capstone 2 material and hand in for marking the practice Capstone 2 exams, to PASS, who mark them. For Capstone 1, students will write 2 practice cases, attend a live online session and receive a handout, all necessary to be prepared for Day 1 of the CFE. Therefore, PASS recommends that students do NOT attend the CPA Canada Capstone 1 and 2 courses. They are not necessary.
3. Do I have to be in Canada to take the course?
No - you can live anywhere in the world and take the entire course. You will have to make 1 trip to Canada to take the CFE.
4. Are there any other course providers in India or elsewhere, catering to the Indian CA market?
No - only PASS/Orbit has developed a dedicated course to prepare students with an Indian CA to pass the CFE and are the only ones offering a course in India.
5. I am a CA from India or Pakistan living in Canada. Which PASS CFE Courses should I take?
This page describes our recommended courses and resources.
6. I am a CA from India or Pakistan living outside Canada. Which PASS CFE Courses should I take?
This page describes our recommended courses and resources.
7. What are live-online classes and will there be any?
Live online classes are where you sit at your computer and log in and watch the instructor live, teach the class. You can ask questions by using the chat box to text or you can unmute your microphone and ask the question orally.
8. What if I miss an online class?
No problem - all live online classs are recorded, so you just watch the video. the video is uploaded the following day.
9. How long will I have access to the videos?
Until you pass!
10. What if I have questions - who do I ask?
If you have technical questions, contact Ira (email@example.com) or Michael (firstname.lastname@example.org). We are happy to answer questions.
Indian and Pakistani CAs - Studying for the CFE
1. Can I work while I study?
Yes, you certainly can. As a matter of fact most students work while they study.
2. How long do I need to study for?
Difficult to answer - if working full time, you should begin no later than the beginning of January if writing the CFE in May and no later than the beginning of May for the Sept. CFE. If not working, can start a bit later. The earlier you start the better the chances of passing.
3. Does it matter if I took my CA in India many years ago?
No - It will just mean more time is required to review the technical and get up to speed.
4. What is the biggest area on the exam?
The exam covers 6 competencies: Financial reporting, management accounting, audit, tax, finance and governance. Financial reporting and management accounting are the 2 biggest areas.
Indian and Pakistani CAs - Administrative Issues
1. What would be the approximate cost of getting my Canadian CPA?
If one adds the PASS course fee, plus the registration fee with the CPA Province, plus the student fee, plus the CFE exam fee and the travel to Canada to write the exam, the approximate cost is $5,000 US or $6,500 Cdn.
2. How do I register for the course?
You can register on the PASS website by clicking on the course description for the course for Indian and Other International CAs currently living in Canada or not currently living in Canada and then scrolling down to the bottom of the page and clicking on register for this option.
3. What happens after I register?
The following: (a) You receive an online confirmation (b) We will send you a technical binder (c) you will have immediate access to an online technical binder and all of the technical videos and (c) We will send you an email with practice cases (online) as well as guidance for getting started.
4. Do I receive other material during the course?
Yes - there will be additional material e-mailed to you as the course progresses.
1. How many years has PASS been offering courses?
PASS has been offering courses for students wishing to obtain their CPA for over 30 years.
2. Are your courses given only to students in small and mid-sized firms or have your courses also been used by the large “Big Four” firms?
PASS has provided courses to students from firms ranging from one partner firms right through to the Big Four. As a matter of fact over the years we have offered courses to all of the Big Four firms including PWC, Deloitte, EY and KPMG. For the last 22 years PASS has delivered the PWC national UFE program and is now delivering the PWC CFE program.
3. How does the live online format PASS offers differ from taking a video version of the course?
The live online courses are courses offered by a live instructor; they are however offered electronically rather than in a physical class room. Students have the opportunity to ask questions orally or using a chat box as the sessions are conducted in real-time (i.e. students sit at their computer and watch the instructor lead the session and students have the ability to ask questions either by text or voice).
This is quite different than a video online session which is not live where students simply watch the video.
You may wish to refer to the detailed description of course venues on our website.
4. Are course fees tax deductible?
5. Would you recommend live online sessions over video sessions?
In most instances we would recommend live online sessions over video sessions as it is very beneficial to have a live instructor who can answer student questions in real time. Also it is easier to focus in an online session compared with watching a video.
The only advantage of the video session is that videos can be watched at the student's convenience.
This can be very helpful when for example the student has a work schedule which conflicts with the times that live sessions are being offered. Also with a video the student can control the pace.
However, all students who take the live online sessions have access to all of the videos and can watch them whenever they wish.
6. Who teaches the PASS sessions?
Michael Levi and Ira Walfish teach most or all of the financial accounting (core 1), assurance and management accounting (core 2) sessions. Most of the tax sessions are usually taught by Professor Joanne Magee, of York University. See the list of PASS instructors for more information.
7. Some courses cut students off videos after they are viewed a number of times. Does PASS do this?
No - You can have access to all videos as long as you need them and watch them as many times as you wish.
8. Are students happy with the live online sessions?
Yes - we constantly get feedback that the live online sessions are very useful.
Students come in live, ask questions and don't have to travel anywhere. If something is missed, students just watch the video, as all live sessions are recorded and students get access to all recordings for as long as they need them.
9. Is it possible to utilize a combination of venues? For example can a student take some sessions live online and others through video online?
That is certainly possible. Many former PASS students have taken advantage of this flexibility and have used both venues - live online and video online - for the same course.
10. If students take a course live online, do they still automatically gain access to the videos in case they miss a class or simply wish to review a class?
Yes, that is one of the nice things about PASS. All students regardless of the venue they use, have access to all of the videos relating to their courses.
11. Does a student need to be registered with a provincial CPA Institute in order to register for a PASS course?
No. Students are not required to be registered with a provincial CPA Institute in order to register with PASS, although students must register with their provincial CPA Institute (or CPA western School of Business if you are writing out west) before they can write any of the exams which comprise the CPA certification program.
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PROFESSIONAL ACCOUNTING SUPPLEMENTARY SCHOOL
We train accounting students to pass the PEP Module Exams and CFE in order to obtain their CPA designation. We have had over 25 years of experience, delivering courses to thousands of students in small and mid-sized firms as well as in-house programs at all of the large 4 accounting firms. Our personalized approach along with our case writing techniques and extensive technical notes, combine into the right formula for students to pass the CPA exams.