Capstone 2 Candidate Guide - CPA Canada
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Capstone 2
Candidate Guide
Chartered Professional Accountants of Canada, CPA Canada, CPA
are trademarks and/or certification marks of the Chartered Professional Accountants of Canada.
© 2018, Chartered Professional Accountants of Canada. All Rights Reserved.
Les désignations « Comptables professionnels agréés du Canada », « CPA Canada » et « CPA »
sont des marques de commerce ou de certification de Comptables professionnels agréés du Canada.
© 2018 Comptables professionnels agréés du Canada. Tous droits réservés. 03/07/18
CPA Canada Capstone 2 Candidate Guide
Table of Contents
Introduction ...................................................................................................................... 4
Your responsibilities ......................................................................................................... 4
Joining a profession ................................................................................................... 4
Taking charge of your studies..................................................................................... 5
When can you use the CPA designation? .................................................................. 5
Professional conduct .................................................................................................. 5
Code of ethics ............................................................................................................ 5
Academic honesty ...................................................................................................... 5
Keeping the profession informed................................................................................ 7
Computer requirements.............................................................................................. 7
Your support team ........................................................................................................... 8
National marking centre ............................................................................................. 8
Lead discussion board facilitator ................................................................................ 8
Session leader ........................................................................................................... 9
Regional/provincial staff ............................................................................................. 9
Module requirements ..................................................................................................... 10
Calendar................................................................................................................... 10
Learning materials .................................................................................................... 11
Submissions ............................................................................................................. 16
Marking .................................................................................................................... 18
Workshop ...................................................................................................................... 20
Preparing for the workshop ...................................................................................... 21
Workshop behaviour ................................................................................................ 21
Workshop locations .................................................................................................. 21
Appeals.......................................................................................................................... 22
Appeal of module results .......................................................................................... 22
Appeal of fees .......................................................................................................... 22
Appeal relating to ethics ........................................................................................... 22
Managing your program................................................................................................. 23
Module enrolment..................................................................................................... 23
Capstone 1, Capstone 2, and the CFE..................................................................... 23
Withdrawing from a module...................................................................................... 24
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CPA Canada Capstone 2 Candidate Guide
Module fees and candidate dues ............................................................................. 25
Important dates ........................................................................................................ 25
Academic accommodations for medical reasons or disability .................................. 25
The CFE ........................................................................................................................ 25
What is the CFE? ..................................................................................................... 25
The Board of Examiners........................................................................................... 26
The Board of Examiners report ................................................................................ 27
CFE marking ............................................................................................................ 28
Writing the CFE ........................................................................................................ 34
Appendix A – Dropbox Submissions .............................................................................. 38
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CPA Canada Capstone 2 Candidate Guide
Introduction
This guide is designed to provide key information on Capstone 2 and the Common Final
Exam (CFE). Additional information, or answers to any questions not addressed herein,
can be obtained either from your lead facilitator or from your regional office.
Capstone 2 is the CFE preparation module and is the last module in the CPA
Professional Education Program (PEP). Capstone 2 is a unique module and it is not
designed to resemble Core 1, Core 2, or the elective modules.
Capstone 2 focuses on preparing candidates for entry into the profession by requiring
candidates to apply the competencies acquired throughout the CPA program in unique,
complex, and highly integrative cases. Candidates should expect to spend between 12
and 15 hours weekly to complete the online learning activities.
Capstone 2 has three primary objectives:
1. Continue the development of your enabling competencies, particularly your
communication and self-management competencies
2. Prepare you for all three days of the CFE
3. Continue the development of your integration of technical competency areas
During the module, you will receive a variety of feedback and support including:
• Individualized feedback on case responses from the national marking centre
• Case-specific debrief guidance
• Technical knowledge support, particularly in the area of elective concentration
• Results tracing and interpretation
• Continuous individualized coaching by the lead facilitators on the discussion board
throughout the module
• Feedback and guidance on the relevancy of information within case facts
Your responsibilities
Joining a profession
The CPA certification program is designed to prepare candidates to join a respected
profession. In the certification program, candidates are expected to uphold the same
values as the profession’s members.
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CPA Canada Capstone 2 Candidate Guide
Taking charge of your studies
The CPA Professional Education Program is competency based, which means
candidates might notice differences between this program and post-secondary
education. First, when candidates are preparing responses to assignments, there is
often no single correct answer. Additionally, there is no lecturer or any other person
telling candidates what they need to do, what they need to read or where to find
additional information. Candidates are expected to have acquired the study skills, sense
of responsibility, self-motivation, and discipline necessary for an independent course of
study.
When can you use the CPA designation?
Before passing the CFE and being formally accepted into membership by a
regionally/provincially regulated CPA body, candidates may not, under any
circumstances, use the designation “CPA” or any other title suggesting that they are
Chartered Professional Accountants. Please refer to the regional/provincial guidelines
on the use of titles for candidates.
Professional conduct
The manner in which members and candidates conduct their activities reflects on the
CPA designation and affects the level of respect accorded to the profession.
Code of ethics
Those who do not abide by the Code of Ethics may be subject to the disciplinary
process and have their registration deleted.
All candidates and members are required to abide by their regional/provincial Act,
bylaws, and Code of Ethics.
Academic honesty
During their studies in the CPA certification program, candidates are expected to
maintain the highest standards of academic honesty. While each module has some of
its own unique requirements and standards, academic honesty applies equally to all
candidates. Plagiarism — the unauthorized and/or uncredited use of others’ intellectual
property — is considered a serious offence and may result in penalties including
suspension or dismissal from the program. There is likewise a no-tolerance policy
toward cheating of any sort. Candidates are expected to conduct their studies with
professionalism and integrity. Where there is any doubt, candidates should contact their
facilitator for guidance.
5 / 40CPA Canada Capstone 2 Candidate Guide
Note, among other things, that copying from other candidates, previous
candidates and solutions/feedback guides is considered plagiarism and penalties
(see below) will apply. If you are copying from a source (such as the CPA Canada
Handbook), be sure to clearly reference your source.
Candidates are encouraged to use the module discussion board as a platform for
collaboration with their peers prior to composing their own responses. Collaboration can
include:
• discussion of technical topics
• identification of potential resources for further research
• discussion of general approach to case writing
Collaboration does not involve sharing files or templates with peers. This would be
considered plagiarism or enabling plagiarism. Unless explicitly stated otherwise,
candidates are expected to compose their responses to module assignments
independently.
Each region/province reserves the right, at its sole discretion and without specific notice
to candidates, to employ active and/or passive techniques for the detection of
plagiarism. This includes, but is not limited to, comparative analysis of written
submissions in hard copy or electronic form, including the use of human reviewers
and/or automated searches by plagiarism detection software using a comparative
databank of written submissions from other current candidates and/or program years,
program articles, or Internet-based resources.
Plagiarism and cheating are serious offences and are considered to be a breach of the
Rules of Professional Conduct, as governed by the profession’s Discipline Committees,
and may result in the suspension of the candidate’s registration and eligibility to
continue pursuing the designation. All candidates should become thoroughly familiar
with the Rules of Professional Conduct on their regional/provincial website and are
accountable for conforming to its standards.
Penalties can include:
• fines
• repeating a module
• expulsion or suspension
• letter to employer
• completing an ethics course
• reporting offences to the applicable regional/provincial body
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Keeping the profession informed
Candidates are responsible for notifying their regional/provincial education body when
circumstances change, such as for a(n):
• address change
• employer change
• name change
See the Candidate Guide Addendum that accompanies this guide.
Computer requirements
CPA Professional Education Program content is delivered through Desire2Learn (D2L),
CPA Canada’s learning management system. All technical issues should be sent to the
CPA Canada D2L Help Desk (https://support.cpacanada.ca). The specific requirements
to access D2L are listed below.
Required hardware
• PC-based computers only; no Apple/Power PC/Macintosh/tablet computers will be
allowed during examinations, even if they run Windows
• 1 GB minimum of RAM
• 100 MB of free hard-drive space (required to run application)
• a free USB port
Operating system
Microsoft Windows Operating System: Windows 7, Windows 8, or Windows 10
Required software
• Microsoft PowerPoint (minimum Office 2010 compatible)
• Microsoft Word (minimum Office 2010 compatible)
• Microsoft Excel (minimum Office 2010 compatible)
• JavaScript enabled
• Cookies enabled
• Adobe Flash
• Acrobat Reader
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General requirements
• sound card with speakers or headphones: modules may contain audio that requires
headphones or speakers
• device to record .mp4 videos such as a smartphone or Movie Maker software in
Windows
• Internet access — high speed strongly recommended
o Firefox (latest)
o Internet Explorer (version 9 or higher)
o Chrome (latest)
Note: If you are having issues in D2L, please use Firefox and/or Chrome. They are the
most reliable browsers to use with D2L.
Your support team
To assist candidates in Capstone 2, there are several individuals to help provide
support.
National marking centre
Twelve Capstone 2 practice cases will be marked by a national marking centre. This will
ensure consistent feedback for all Capstone 2 candidates.
Lead discussion board facilitator
Unlike other modules in the PEP, Capstone 2 candidates are not paired with a facilitator.
A discussion board, moderated by a CPA lead facilitator, is available to candidates for
the duration of Capstone 2. The lead discussion board facilitator(s) is a designated CPA
and acts as a coach, providing candidates with support and answering technical
questions. The lead discussion board facilitator does not mark candidate practice cases
nor does he/ she decide whether a candidate succeeds in a module.
Candidates are not permitted to email their lead discussion board facilitator. Candidates
are encouraged to use the discussion board to ask questions on practice cases and/ or
questions of a technical nature. In addition, candidates are encouraged to respond to
their peers’ questions and comments.
A dedicated email account within D2L is provided to candidates for questions about
individual performance on practice cases marked by the national marking centre.
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CPA Canada is dedicated to a quality learning experience for all candidates and
encourages candidates to email their regional/provincial delivery body (see Candidate
Guide Addendum for contact information) if they are unsatisfied with the quality of their
learning experience.
Session leader
This is the person who guides the two-day workshop during the module. Session
leaders will be CPAs.
Support
What to expect What they will expect
team
from them from candidates
member
Lead • Help candidates locate • Post questions about technical
discussion information and understand topics or practice cases on the
board new concepts. discussion board.
• Respond to questions on the • Respond to peers’ questions
facilitator discussion board within and comments on the
24 hours. discussion board.
• Monitor and facilitate • Review the discussion board
discussions on the discussion daily.
board.
Session • Lead discussions and • Arrive on time, prepared to
leader activities during a two-day participate in the session.
workshop. Complete the pre-work
activities for the module
workshop.
Regional/provincial staff
The regional/provincial bodies will also have employees dedicated to supporting
Capstone 2 candidates through CPA certification.
Please see the Candidate Guide Addendum that accompanies this guide for questions
about:
• registering in the CPA program
• prerequisites
• admittance criteria
• eligibility
• module registration, including Module Zero
• accommodations
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Module requirements
The module begins with a two-day face-to-face workshop. The balance of the module
consists of independent online learning.
Candidates will access content via D2L, the CPA Canada learning management system.
Within D2L, candidates will find instructions for the practice cases, module workshop
materials, resources, and other material that they will use during Capstone 2.
Throughout Capstone 2, candidates will be writing practice cases that resemble three
days of the CFE. These Capstone 2 practices cases are commonly referred to as
‘Day 1,’ ‘Day 2’ and ‘Day 3’ cases. Candidates will also write a two-day mock CFE that
resembles Days 2 and 3 of the CFE.
There is no examination at the end of Capstone 2. To pass Capstone 2 and be
eligible to proceed to the CFE, candidates must:
1) Attend the module workshop
2) Make a reasonable attempt and upload to the dropbox 75% (or 14) of the
Capstone 2 weekly activities which include:
• 12 marked practice cases
• 4 unmarked practice cases
• 2 surveys (module workshop and end of module)
• 1 Securexam activity
Calendar
The Capstone 2 calendar, located on the module homepage, runs from Saturday to
Friday, from Week 0 to Week 8, and provides candidates with detailed information about
when each practice case is written and when each practice case is due.
Week 0 is included on the Capstone 2 calendar because the Capstone 2 module
workshop begins on the Friday of Week 0. Week 8 is included in the Capstone 2
calendar because the CFE runs during Week 8.
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In all weeks of Capstone 2, with the exception of Week 1, Week 4, and Week 7,
candidates will have either a Day 1 or a Day 2 practice case response and a Day 3
practice case response due. Note that twelve of the sixteen practice cases will be
marked by the national marking centre. The remaining four practice cases will be self-
debriefed by candidates.
Week 1 One Day 3 practice case due
Week 2 Day 2 and Day 3 practice case due
Week 3 Day 1 and Day 3 practice case due
Week 4 Mock CFE Day 2 and Day 3 cases and one Day 3 practice case due
Week 5 Day 2 and Day 3 practice case due
Week 6 Day 1 and Day 3 practice case due
Week 7 Two Day 3 practice cases due
Unlike other modules, practice cases are NOT all due on Fridays. Check the
Capstone 2 calendar for the due dates.
Writing early
While candidates have the option of writing and submitting their practice case
responses to the D2L dropbox at any time before the stated deadline, candidates are
encouraged to submit their practice case responses in the week in which they are due.
The reason for this recommendation is twofold: practice case responses that are
submitted early will not be marked and returned to candidates by the national marking
centre before the stated feedback deadline. Also, it is known that candidates improve
their writing skills by digesting and applying feedback received on previously submitted
practice case responses. If candidates write all of their practice case responses in the
first few weeks of the module, they will not get an opportunity to apply feedback
received from the national marking centre and gauge their improvement over the course
of the module.
Learning materials
Capstone 2 is designed to provide candidates with all of the learning materials and
resources necessary to facilitate effective studying in the seven weeks leading up to the
CFE, with no time off from work. Learning materials for each case can be retrieved
individually from the “Content” section of D2L, or collectively by downloading the
Capstone 2 candidate materials zip file from the module homepage.
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The following learning materials will be provided for the Day 1 practice cases:
Debrief material Explanation
Solution A complete solution. Note that the solution is a competency
with distinction response and is usually much longer than what
can be achieved in an exam setting.
Feedback Guide A guide to assess standing, based on the solution.
Walkthrough An annotated version of the case, highlighting case facts and
triggers.
Debrief notes Notes to highlight specific areas of the case and elaborate on
learning points.
Debrief video A video debrief that walks through the key learning points of a
Day 1 case.
The following learning materials will be provided for the Day 2 and Day 3 practice
cases:
Debrief material Explanation
Marking guide A complete solution written by the Board of Examiners (BoE) that is
located in the BoE report. Note that marking guides are not
available for all CFE cases and that when provided, represent a
competency with distinction response that is usually much longer
than what can be achieved in an exam setting.
Practical solution A complete solution that demonstrates case writing ‘best practices’
including, but not limited to the use of headings, point form,
templates, and exhibits. Note that the solution is a competency with
distinction response and is usually much longer than what can be
achieved in an exam setting.
A practical solution is meant to illustrate to candidates HOW to
write a best response for the various issues in the case.
Feedback Guide A guide to assess standing, based on the solution.
Walkthrough An annotated version of the case, highlighting case facts and
triggers.
Debrief notes Notes to highlight specific areas of the case and elaborate on
learning points.
Debrief video A video debrief that walks through the key learning points in the
case. For the 2017 CFE Day 2 and Day 3 practice cases, the
debrief videos focus on assessment opportunities that candidates
struggled with on the CFE.
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Flashcards Flashcards summarizing technical content covered in the case.
Note that role specific flashcard decks are provided. Each role
specific flashcard deck covers the technical content from all of the
Capstone 2 cases. Flashcard decks by case are not provided.
It is not necessary for candidates to use all of the learning materials provided to them in
Capstone 2. In the first week of Capstone 2, candidates are encouraged to take a look
at the various materials to determine which ones will be of most use to them.
In addition to the learning materials provided in Capstone 2, candidates will have
access to the following resources:
• Individualized feedback on twelve practice case responses from the national
marking centre;
• Technical knowledge support, particularly in the area of elective concentration
through the recently added new Learning eBook documents;
• A workbook designed to facilitate results tracking and interpretation;
• A detailed Capstone 2 calendar;
• A Capstone 2 lead facilitator through the D2L discussion board;
• A dedicated email address for questions regarding individual performance on
marked practice case responses;
• A session leader through a two-day workshop;
• Employees of the candidates’ regional/provincial institute who are dedicated to
supporting candidates through the CPA PEP program.
Mock CFE
The mock CFE consists of two exam papers that resemble Day 2 and Day 3 of the CFE.
The Day 2 mock CFE paper should be written in 5 hours and the Day 3 mock CFE
paper should be written in 4 hours. The mock CFE will be written remotely (not in a
writing centre) and may be written by candidates at any time, as long as the files are
submitted to the D2L dropbox by the calendar due date. Day 2 of the mock CFE is due
on the Saturday of Week 4. Day 3 of the mock CFE is due on the Sunday of Week 4.
Once candidates have written the mock CFE, they are encouraged to immediately
debrief their response using the many tools provided on the D2L site. A second debrief
should be performed when candidates receive their marked responses back from the
national marking centre.
CPA Canada strongly recommends that candidates wait until Week 3 of
Capstone 2 to write the mock CFE. This will ensure that candidates have received
feedback from the national marking centre on their Week 1 and 2 practice cases
and are provided with an opportunity to apply some of the skills they have
learned on the mock CFE.
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Discussion Board
A discussion board, moderated by a CPA lead facilitator(s), is made available to
candidates for the duration of Capstone 2. While the lead facilitators are not the same
people who are marking candidates’ practice case responses, they are very familiar with
the content of each practice case and can address any module related inquiry.
Candidates are encouraged to subscribe to the ‘Important Announcements’ board and
any other boards that are of interest.
The discussion boards that are available to candidates include:
• Important announcements: Capstone 2 lead facilitator(s) will post important
information to candidates about Capstone 2 and/ or the CFE here. The purpose of
this discussion board is to communicate important information from CPA Canada to
candidates.
• CFE questions: candidates are encouraged to post questions about the CFE here.
• General Capstone 2 questions: candidates are encouraged to post general
questions about the Capstone 2 module here.
• General case writing questions: lead facilitators will share case writing best
practices and answer candidate questions related to case writing here.
• Case-specific questions (by case): lead facilitators will answer questions about
specific cases here. Lead facilitators will not answer questions about individual
peformance on specific cases. A dedicated email address will be provided to
candidates for queries related to individual performance.
• Module workshop questions: lead facilitators will answer questions about the
module workshop here.
• Securexam questions: candidates can share information about Securexam here.
This discussion board will not be monitored by the Capstone 2 lead facilitator.
• Study partners: candidates can use this discussion board to find a study partner to
work with. This discussion board will not be monitored by the Capstone 2 lead
facilitator.
Any Securexam related posts must be made on the ‘Securexam questions’
discussion board. Securexam related posts on other discussion boards may be
deleted. If a candidate is experiencing technical issues with Securexam, they are
encouraged to file a ticket with the CPA Canada help desk at:
https://support.cpacanada.ca
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Candidates are reminded to use online discussion board etiquette:
• Before posting a question to the discussion board, check to see if the question has
already been asked and if so, if the reply to your question has already been
provided.
• Only reply to a posting when you have a comment or a follow up question to ask. Do
not reply to a posting with a ‘thank you.’
• Be respectful. Avoid writing anything that sounds angry or sarcastic, even if it is
meant as a joke.
• Refrain from using the discussion board as a forum for complaints. Share your
feedback on the module workshop and end of module surveys.
Study groups
In addition to the Capstone 2 resources, candidates are encouraged to work with a
coach and/ or a study group.
When looking for a coach, candidates are encouraged to find someone that they feel
comfortable with, who is willing to share their knowledge and experience and will be
available to the candidate for morale support, if needed. A coach doesn’t have to reside
in the same city as the candidate as information can be easily shared electronically or
by phone.
Candidates may also want to consider joining a study group. Study groups can take
many different forms. Some study groups choose to write, mark and debrief every
Capstone 2 practice case together while other study groups only come together to mark
and debrief practice cases after having written and marked the cases individually. Some
study groups have members that reside across Canada and come together using tools
like Skype while other study group meet in person daily. Candidates are reminded that
an effective study group is a group that works for each member. There is no “right way”
when it comes to study groups.
In some situations, a candidate may decide that his or her study group is no longer
providing the support that the candidate needs during his or her CFE preparations.
When this happens, candidates are encouraged to leave the study group. Although this
may cause a disruption to the other group members, it is very important that each
candidate prepares for the CFE in a way that works for them.
Study group members can be found in many different ways. Candidates can:
• Form study groups with colleagues
• Use the Capstone 2 discussion board to find a study partner(s)
• Connect with CFE candidates who were enrolled in the same CPA PEP or PREP
modules
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Submissions
Candidates are strongly encouraged to write their responses to the Capstone 2 practice
cases in Securexam. By writing practice cases in Securexam, candidates are testing the
functionality of the software on their machines as well as becoming familiar with the
features (and constraints) of the software, prior to the CFE.
Responses should be written in one sitting. Candidates are advised not to start the
exam, close Securexam, and then try to resume the exam at a later date. Once
Securexam is closed, the response is finalized and the exam cannot be re-entered.
Once candidates have finished writing a practice exam, encrypted files will be saved to
their desktop. These files must be unencrypted before being uploaded to the Capstone
2 D2L dropbox by the stated deadline. PDF documents and encrypted practice exam
files will not be accepted by the national marking centre. For further information on how
to use Securexam in Capstone 2, see the 2018 Securexam Case Writing Instructions
found within the Week 1 Content section of D2L. See Appendix A for dropbox
submission instructions.
It is expected that candidates will attempt and submit all cases on time. The national
marking centre will not mark late submissions. In extenuating circumstances, a
candidate may request an extension. See the Candidate Guide Addendum for contact
information.
If technical difficulties are encountered with submitting files to the D2L dropbox, contact
the CPA Canada help desk: https://support.cpacanada.ca
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Surveys and Securexam Activity
The candidate workshop survey, end-of-module survey, and the Securexam activity are
required acitivies in Capstone 2. Submissions must be made to the dropbox.
For Securexam activity submission requirements, please see the week 1 activity
instructions.
For both the module workshop and end-of-module survey, candidates must submit a
screenshot of the survey completion page to the applicable dropbox. The following are
two examples of acceptable screenshots:
Submission deadlines
Note: All submission deadlines are stated in Pacific Standard Time (PST) and will need
to be converted to each candidates’ local time zone.
Practice case responses are due on the stated date at 11:55 p.m. PST. Capstone 2
dropboxes will close at the deadline and only the most recent upload will be retained.
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Revisions
There are no revision opportunities in Capstone 2.
Marking
Twelve Capstone 2 practice cases will be marked by the national marking centre. This
will ensure consistency of feedback for all Capstone 2 candidates.
Candidates are strongly encouraged to debrief their response with the feedback guide
immediately after writing each practice case. A second debrief should be performed
when candidates receive their case results report back from the national marking
centre. The case results report is a summarized version of the feedback guide,
providing candidates with an assessment and feedback for each assessment
opportunitiy (AO) as well as a communication assessment and overall feedback. For
information on how to effectively debrief a practice case response, please access the
Volume 7: Enabling Competencies Learning eBook and review Chapter 27: Exam
Preparation – Debriefing a Case.
The national marking centre will assign a question leader, mentors and dedicated
markers to each practice case. Markers are selected based on their attendance at two
training sessions, their assessment of a sample paper, their past marking experience,
and a demonstrated commitment to the profession. Prior to the start of the marking
centre, mentors and markers will be asked to assess a randomly selected candidate
response to the practice case. Mentors will review the results of the marker’s
assessment. The team leader will review the results of the mentor’s assessment. Any
instances of inconsistency will be investigated and discussed in a debrief meeting
where the practice case feedback guide will be fine tuned, if necessary. Once the
question leader, the mentors, and the markers are comfortable with the practice case
and its feedback guide, live marking will begin.
Over the course of the marking centre, mentors will be tasked with reviewing candidate
feedback being provided by markers. Feedback should be understandable, positive and
helpful in explaining to candidates what is required to move to the next level on each
assessment opportunity. Feedback that is deemed not to have met these requirements
will be flagged and the marker will be notified and coached on how to improve the
feedback he or she is providing. In addition to monitoring the quality of feedback being
provided, the question leader and the mentors will monitor the consistency of marking,
looking for instances where a marker is being too harsh or too lenient on an assessment
opportunity. Where inconsistent marking is noted, the marker will be consulted and
trained, as necessary.
By the stated deadline, the national marking centre will upload the case results report
containing an assessment of candidates’ responses to each practice case. To enable
candidates to monitor their progress, they will be provided with a decile ranking on each
18 / 40CPA Canada Capstone 2 Candidate Guide
case results report. The marking centre will not return the candidate’s practice case
response file(s).
Candidates should follow the steps below to access their case results report:
On the Dropbox Folders page, click View in the Feedback column beside the folder
containing your practice case response file(s).
Click Download All Files to download the case results report. When you are finished
viewing the case results report, click Done.
19 / 40CPA Canada Capstone 2 Candidate Guide
Once candidates have reviewed their case results report from the national marking
centre, they may have questions on their individual assessment.
A dedicated email account within D2L is provided to candidates for questions about
individual performance:
Capstone2.NMCHotline@education.cpacanada.ca
Synthese2.NMCHotline@education.cpacanada.ca
To facilitate a quick reply, candidates should write the subject of the email as follows:
Name of practice case Student name (i.e. Bamboo Bikes Fatma Zakiya).
The email account will be staffed for 48 hours after candidates receive their case results
reports. Questions about individual performance received after 48 hours will not be
answered.
General case writing and Capstone 2 questions should be posted to the appropriate
discussion boards.
Candidates are reminded that the primary focus of the national marking centre is on the
feedback being provided to candidates. While consistency of marking is important,
candidates may note instances of inconsistency between their marking and the marking
of their peers. This is not a cause for alarm. The CFE will be marked much more slowly,
over a longer period of time and will focus on consistency, not feedback.
Workshop
The Capstone 2 module workshop pre-work is due on the Friday of Week 0 (per the
Capstone 2 calendar). Candidates should refer to their regional/provincial body’s
website for schedule details.
The workshops run from 8:30 a.m. to 4:30 p.m. local time.
Candidates are expected to attend the entire workshop, and arriving late or missing a
portion of the session may result in being suspended from the program or being
withdrawn from the module.
In extenuating circumstances, candidates may request to arrive late or miss the
workshop (see the Candidate Guide Addendum that accompanies this guide). In most
cases, candidates will be expected to complete a make-up assignment and may be
charged a make-up assignment fee. If candidates do not attend the workshop and
do not complete the make-up assignment(s), they may not be eligible to write the
CFE.
20 / 40CPA Canada Capstone 2 Candidate Guide
Preparing for the workshop
Candidates are expected to arrive at the workshop with any requested pre-work
completed and prepared to participate in the group discussions and activities.
Candidates are also expected to bring a laptop to the workshop with workshop materials
already downloaded from the module’s D2L site.
Workshop behaviour
Professional behaviour is expected throughout the program, module, and workshop.
This includes arriving on time, being present and actively involved, avoiding or limiting
distracting communications, and respecting other candidates and the session leader.
All late arrivals will be documented by the session leader and communicated to the
regional/provincial body. This includes late arrivals after breaks. Regional/provincial
bodies may ask candidates to complete make-up assignments, pay a fine or deny credit
for attending the workshop if part or all of the workshop is missed (without an approved
extension).
The workshop learning environment encourages discussion and discourse, including
debate with other candidates or the session leader. Nonetheless, the principle of
respectful communication is expected and required at all times. If a candidate is unsure
if they are being respectful, err on the side of caution and follow up with the session
leader during a break or at the end of the day.
Distracting forms of communication including cell phone conversations, texting, social
media etc. should be limited to use outside of the classroom, during scheduled breaks.
Any emergency situations should be dealt with outside the classroom without distracting
the cohort.
If a candidate is being disrespectful or demonstrating other unprofessional behaviour
that is disrupting the learning environment, the session leader reserves the right to ask
them to leave the classroom. The candidate, the session leader and the
regional/provincial body should discuss the circumstances that led to the dismissal as
soon as possible (such as the nearest break).
Workshop locations
Workshop locations will be published at least one week before the workshop. To request
a change in an assigned location, see the Candidate Guide Addendum that
accompanies this guide.
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Appeals
Appeal of module results
Candidates should expect a high level of fairness, professionalism, and objectivity in the
CPA certification program. The appeals process is designed to handle concerns raised
by candidates. The intent of the process is to ensure fairness and clear communication.
All appeals related to program policies must be made in writing and must clearly state
that they are a letter of appeal. To submit an appeal, see the Candidate Guide
Addendum that accompanies this guide. The stronger the submission, the greater the
likelihood that it will be favourably considered:
1. Include an explanation and supporting documentation, where applicable, if there
were extenuating circumstances that hindered your ability to satisfy the requirements
or meet established policies.
2. Avoid making general statements such as “I will work harder.” Identify the issue or
weakness that created the situation and clearly outline what changes are required
and that you will undertake should your appeal be successful.
The applicable regional/provincial body, in accordance with established
regional/provincial processes and/or bylaws, will consider appeal submissions. Should
the appeal be confidential, be assured that any individuals involved in the review are
bound by privacy policies. An appeal decision can be expected within six weeks of
submission, unless additional information is requested from the candidate. Any other
reasons for a delay beyond this time frame will be communicated in writing.
Appeal of fees
Issues with payment and refunds, per the approved and published schedules, are not
appealable. Where there are cases of hardship, contact your regional/provincial body to
discuss resources that may be available or alternate arrangements that may be
considered (see the Candidate Guide Addendum that accompanies this guide). In some
situations, a written appeal may be directed to the appeal committee for review.
Appeal relating to ethics
Your regional/provincial body will first consider ethical issues such as cheating or
plagiarism. Depending on the nature of the situation and/or in accordance with
regional/provincial requirements, the matter may have to be forwarded to the individual
responsible for ethical issues. The penalty for such actions may involve a warning,
reducing the score, disallowing the assignment, or recommending suspension or
removal from the program. Candidates may submit an appeal of this decision for
22 / 40CPA Canada Capstone 2 Candidate Guide
consideration by the appeals committee, and they will be notified of the results in
writing. In extreme or difficult cases, the appeal may be referred to an independent,
qualified external reviewer. Candidates will be responsible for any costs of the appeal.
At this stage, the person making the appeal will be required to sign an agreement that
the results of this stage will be final and not subject to further appeal.
For ethical issues that relate to workplace or professional conduct, the applicable
regional/provincial committee for disciplinary action will consider the matter.
Managing your program
Module enrolment
To enrol in a module, candidates must be registered with the appropriate program in a
Canadian region/province, usually the one in which they are living. In the CPA
Professional Education Program, candidates must pass Core 1 and Core 2 before
starting any electives. Candidates will need to pass two electives before they can start
Capstone 1 and pass Capstone 1 before they can start Capstone 2.
Capstone 1, Capstone 2, and the CFE
The case used in Capstone 1 changes for each offering of Capstone 1, and Day 1 of the
CFE is linked to the Capstone 1 case. As a result, the Day 1 practice cases for
Capstone 2 also change for each offering of Capstone 2.
Capstone 2 CFE Day 2
CFE
Capstone 1 CFE Day 1
Day 3
It is HIGHLY recommended that candidates consider Capstone 1, Capstone 2, and the
CFE as one integrated package and therefore take Capstone 1 and Capstone 2
immediately leading up to the CFE to ensure consistency of the cases. The following
guidance illustrates why:
23 / 40CPA Canada Capstone 2 Candidate Guide
Capstone 1 Capstone 2 CFE Implications
Route 1: May 2018 July 2018 September Case is
Take Capstone Case Practice Day 2018 consistent across
1 and 2 1 cases: Day 1 case: Capstone 1,
immediately based on May based on Capstone 2, and
leading up to 2018 May 2018 the CFE,
the September Capstone 1 Capstone 1 therefore this
2018 CFE case case route is
recommended.
Route 2: May 2018 July 2019 September The sample Day
Take Capstone Case Practice Day 2019 1 cases in
1 in May 2018, 1 cases: Day 1 case: Capstone 2
Capstone 2 in based on May based on would be
July 2019, 2019 May 2019 offshoots of a
write the CFE Capstone 1 Capstone 1 different
in September case case Capstone 1 case,
2019 therefore this
route is not
recommended.
If you are currently registered in Capstone 1 and are NOT planning to write the coming
September CFE, we recommend you reconsider your plan immediately. If you would
like to discuss your options, contact your regional/provincial administrator (see the
Candidate Guide Addendum for contact information).
Withdrawing from a module
Except in unusual circumstances, if candidates choose to withdraw from a module, they
can withdraw through their regional/provincial body. To withdraw from a module, see the
Candidate Guide Addendum that accompanies this guide.
Whether candidates are issued a refund or charged for a module attempt depends on
when they withdraw:
• If the candidate withdraws before the second Friday of the module, they will not be
charged a module attempt. Check with your region/province to determine if you are
eligible for a refund.
• If the candidate withdraws between the second Friday of the module and the fourth
Friday of the module, no refund will be issued and they will not be charged a module
attempt.
• If the candidate withdraws after the fourth Friday of the module, no refund will be
issued and they will be charged a module attempt.
24 / 40CPA Canada Capstone 2 Candidate Guide
In all cases, if a candidate re-enrols in a module after withdrawing from an earlier
offering, candidates will need to restart the module at Week 1.
Module fees and candidate dues
Module fees are required in full at the time of enrolment. To maintain status as a CPA
candidate, candidates are also required to pay annual dues, set by the applicable
regional/provincial body.
Important dates
The program schedule lists the module enrolment dates, module start and examination
dates, workshop dates, and the dates that results are released.
Academic accommodations for medical reasons or disability
If candidates have a medically documented reason or disability that affects their
participation in the module or ability to attempt the module examination as scheduled,
they can request an academic accommodation. Such candidates will need to provide
appropriate documentation and may be asked to provide additional information. For
additional information, see the Candidate Guide Addendum that accompanies this
guide.
The CFE
What is the CFE?
The Common Final Examination (CFE) is intended to evaluate a candidate’s readiness
to enter the profession by requiring them to demonstrate competence across a set of
competency areas required of an entry-level Chartered Professional Accountant (CPA).
The CFE is made up of a set of unique cases that are written over three days.
Day 1 – is a 4-hour exam that consists of one comprehensive case that is linked to the
Capstone 1 case, which candidates work on in groups prior to Capstone 2.
This exam focuses on enabling competencies of professionalism, ethical behaviour,
written and oral communication, leadership, problem-solving and decision making with
candidates directed to target a “board room and senior management” level of
discussion. Because this examination is common to all candidates, only core level
knowledge will be tested on Day 1.
25 / 40CPA Canada Capstone 2 Candidate Guide
Day 2 – is a 5-hour exam that consists of one comprehensive case with different roles
and requirements. Candidates will respond assuming one of four unique roles
(Assurance, Tax, Finance, or Performance Management).
Competence will be assessed in two ways, within each role:
1. Depth in the core Financial Reporting and/ or Management Accounting
competencies (these are competencies that are common to all roles);
2. Depth in one of the four roles chosen in advance by candidates. The four roles
reflect the four CPA elective choices.
All candidates will work with the same case which consists of a common section and
four sets of appendixes containing additional information that is applicable to each of
the four unique roles. Generally, the required tasks, regardless of the role, are clearly
directed.
The financial statements of the Day 2 exam will be pre-loaded into the Excel
spreadsheet component of Securexam so that candidates may copy and paste
elements of the financial statements into their response.
Day 3 – is a 4-hour exam that consists of a mix of between three and four multi-
competency area cases. The maximum time for any one case is 90 minutes and the
minimum time is 45 minutes. Because this examination is common to all candidates,
only core level knowledge will be tested on Day 3.
The Day 3 cases are time constrained, and they are designed to cover different
competency areas (both technical and enabling) within each case. A higher level of
integration and judgment is required on Day 3 of the CFE than in the core modules.
It is important to note that additional depth opportunities in Financial Reporting and
Management Accounting competencies will be provided.
The Board of Examiners
A committee called the Board of Examiners (the Board) oversees the development and
marking of the CFE. The Board is comprised of a Chair, a Vice-Chair and 16 members
who have been appointed by the regional/provincial bodies to ensure regional/provincial
representation.
The Board’s responsibilities, as set out in its terms of reference, include the following:
• Setting the CFE in accordance with the CPA Competency Map (the Map) and other
directions from the Professional Education Management Committee;
• Submitting the CFE and the marking guides to the regional/provincial bodies for
review;
• Marking the candidates’ responses and recommending to the regional/provincial
bodies the pass or fail standing that should be given to each candidate; and
26 / 40CPA Canada Capstone 2 Candidate Guide
• Reporting annually on the CFE to various CPA committees and the
regional/provincial bodies, in such form and detail and at such time as is satisfactory
to them.
While the Board Chair is responsible for the supervision of the evaluation process, a
CFE subcommittee of six individuals is responsible for the preparation of the CFE cases
and marking guides and the setting of the passing profile.
The CFE subcommittee oversees a group of Board staff. These staff members work
with authors to ensure that the CFE cases achieve the overall intent and design
objectives of the Board while adhering to the competencies and the proficiency levels
specified in the Map. Board staff are also tasked with developing a solution, also known
as a marking guide, for every CFE case.
Approximately three months prior to the CFE being finalized and printed, a group of
provincial reviewers meet to examine the cases and the preliminary marking guides.
The regional/provincial reviewers’ comments are considered by the Board when it
finalizes the CFE cases and again when the senior markers review the marking guides
in the context of actual responses, which is discussed below.
The Board of Examiners report
After each evaluation, the Board publishes a report called the Board of Examiners CFE
report (Board report). The objective of the Board report is to explain the CFE process
and to assist the CPA profession in improving the performance of candidates on the
CFE.
The Board reports describe the responsibilities of the Board, the methods used for
developing the marking guides of disclosed cases and the process of setting the
passing standard. The reports also contain a valuable message from the Board to
candidates on how to improve their performance.
The following Board reports are currently available to candidates here:
September 2017 CFE Report (parts A and B)
September 2016 CFE Report (parts A and B)
May 2016 CFE Report
May 2016 CFE Report Supplement
September 2015 CFE Report
https://www.cpacanada.ca/en/become-a-cpa/cpa-certification-program-evaluation/the-
common-final-examination-report-simulations-and-guides-for-the-cfe
27 / 40CPA Canada Capstone 2 Candidate Guide
CFE marking
The CFE design
The Board applies a competency-based method of evaluation on the CFE. Assessment
opportunities (AOs) are embedded throughout the three days of the exam and these
AOs are designed to answer the question, “what would a competent CPA do in these
circumstances?”
Five categories of performance can be awarded for each AO.
Not Addressed (NA): the AO was not addressed
Nominal Competence (NC): there is virtually no evidence of competence
Reaching Competence (RC): there is some evidence of competence
Competent (C): competence has been demonstrated
Competent with Distinction (CD): there is overwhelming evidence of competence
Every Day 1, Day 2, and Day 3 marking guide provides a brief description of the AOs
and a description of what was expected for each category of performance.
How the CFE is marked
Each CFE case is marked by a team consisting of a team leader, an assistant team
leader, and a pool of French-speaking and English-speaking markers from across
Canada. Each team has one or more markers who are capable of marking in both
languages. The Board Chair is responsible for the CFE marking centres and works
alongside the CFE subcommittee and Board staff throughout the marking process.
Team leaders, assistant team leaders, and markers are selected based on a
predetermined set of criteria which include marking experience, motivation, academic
achievement, work experience, personal references, and regional representation. In
September 2015, approximately 80 individuals were chosen to participate in the CFE
marking centre. The number of markers grew to 85 for the May 2016 CFE marking
centre.
Prior to the start of the CFE marking centres, the marking guides must be tested and
refined to ensure that they meet the overall intent and design objectives of the Board.
The testing of the marking guides is performed by a group consisting of team leaders,
assistant team leaders, and some Board members. Participants review the marking
guides, apply them to randomly selected candidate responses and make necessary
revisions to the marking guidelines. Any refinements made to the marking guides are
completed before live marking starts.
At the beginning of the live marking centre, the team leaders and assistant team leaders
present the marking guides to their teams. The teams then undertake a two-phase test
marking procedure prior to actual marking. Phase one is designed to familiarize the
28 / 40CPA Canada Capstone 2 Candidate Guide
markers with the marking guides and ensure that all markers understand the issues in
the marking guide and the basis on which to apply each expectation level. During this
phase, markers apply the marking guide to a set of candidate responses and
collectively review the results. Phase two consists test marking several additional
responses to establish marker congruence.
After the marker training is complete and marker congruence has been achieved, live
marking begins. At several points during the live marking centres, marker statistics are
reviewed by the team leaders to ensure that marking remains consistent throughout the
centre. Based on analysis of the statistics, team leaders review, and, if necessary, re-
mark candidate responses to ensure that the assessment opportunities are fair for all
candidates. Bilingual markers mark responses in both languages and their results are
compared to ensure that the marking is consistent in both languages. Near the
completion of the marking process, the CFE subcommittee satisfies itself that the
markers have applied the marking guides as intended by the Board. The live marking
centres are overseen by the Chair of the Board.
Day 1 – each candidate paper is marked once. All candidate papers that were assessed
as a clear fail, a marginal fail, or a marginal pass are marked a second time by the team
leader or assistant team leader. If the two markings differ, an arbitrator (the leader, the
assistant leader or a senior marker) compares the two markings and determines the
final result. Clear pass results are also audited on a random basis to ensure accuracy of
marking.
Day 2/3 – each candidate paper is marked independently by two different markers. If
the two initial markings differ on any assessment opportunity, an arbitrator (the leader,
the assistant leader or a senior marker) compares the two initial markings and
determines the final result.
As an added measure to ensure that markers consistently apply the marking guide, a
two-day rule exists. Under the two-day rule, the second round of marking cannot begin
until two days have elapsed since the first marking. By enforcing this two-day rule, any
movement in the application of the guides due to marker interpretations during the first
two days of live marking are stabilized before the second marking and arbitration
procedures begin.
The passing profile
In determining which candidates pass the CFE, a passing profile is developed by the
CFE subcommittee and the Board. The full Board is responsible for determining the
passing standard.
A candidate is judged in relation to the pre-established expectations of an entry-level
CPA. The passing profile decisions are ratified by the full Board. In setting the passing
profile, the Board considers the following:
• The competency area requirements described in the Map
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