To obtain the results for the Common Final Examination (CFE) administered by the CPA profession in Canada, and to understand the meaning of the scores, follow these steps:
Obtaining CFE Results
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Notification of Results:
- Results are typically released a few months after the exam.
- You will be notified via email when the results are available.
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Accessing Results Online:
- Log in to your account on the CPA Canada website or the website of your provincial/regional CPA body.
- Navigate to the section where exam results are posted.
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Physical Mail:
- Some candidates may also receive their results via postal mail, depending on their regional CPA body’s policies.
Understanding the Meaning of the Scores
The CFE is evaluated on a pass/fail basis for each of the three days of the exam. Here’s how to interpret your results:-
Overall Result:
- Pass: You have met or exceeded the required competencies for all three days of the exam.
- Fail: You did not meet the required competencies for one or more days of the exam.
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Day 1 (Capstone 1 Case):
- Evaluated based on your performance in relation to the competencies expected in the case scenario.
- Feedback will indicate whether you met the competencies or not.
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Day 2 and Day 3:
- Competency Areas: Evaluated based on various competency areas, including financial reporting, management accounting, strategy and governance, audit and assurance, finance, and taxation.
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Levels of Competence:
- Level 1 (Overall Performance): Assesses your ability to address issues across multiple competency areas.
- Level 2 (Depth): Evaluates your depth of knowledge in your chosen role (e.g., financial reporting or management accounting).
- Level 3 (Breadth): Assesses your breadth of knowledge across all competency areas.
- Level 4 (Enabling Skills): Evaluates critical thinking, communication, problem-solving, and professional judgment.
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Performance Feedback:
- If you fail, you will receive detailed feedback indicating the areas where you did not meet the required competencies.
- Use this feedback to identify specific areas for improvement.
Tips for Interpreting Scores
- Focus on Competencies: Understand which competencies you met and which you need to improve on.
- Detailed Feedback: Review the feedback carefully to create a focused study plan for any retake.
- Resources: Utilize resources offered by CPA Canada or your provincial CPA body, such as workshops, study guides, and mentorship programs.
If you have specific questions about your results or need further clarification, it is advisable to contact your provincial/regional CPA body directly.
