(Posted February 2026)
We were thrilled to congratulate our successful Densmore writers who passed the CPA Common Final Examination (CFE) and the CPA Professional Education Program (CPA PEP) Core and Elective examinations in 2025. CPA Canada has now released the2025 CPA examination pass rates and our writers’ hard work and endurance have included them in these results.
The CFE pass rates for first-time writers for the past five years are:
| CFE Offering | Pass Rate |
| 2025* | 69.8% |
| 2024* | 67.3% |
| 2023* | 70.5% |
| 2022* | 71.3% |
| 2021* | 73.6% |
*In 2021 to 2025, there were two offerings of the CFE in each calendar year. The pass rates listed in these years are the combined average of first-time writer performance on both the May and September CFEs in each calendar year.
The CPA PEP Core and Elective module examination pass rates for first-time writers for the past five years are:
| CPA PEP Modules | 2025 | 2024 | 2023 | 2022 | 2021 |
| Core 1 | 72.4% | 71.9% | 72.1% | 74.0% | 77.1% |
| Core 2 | 81.8% | 80.4% | 78.4% | 82.5% | 85.3% |
| Assurance | 87.5% | 88.1% | 87.6% | 89.7% | 90.5% |
| Finance | 86.6% | 84.8% | 87.1% | 87.2% | 89.1% |
| Performance Management | 87.0% | 87.1% | 90.2% | 89.5% | 90.9% |
| Taxation | 83.4% | 86.8% | 87.6% | 87.5% | 88.1% |
The pass rates stated by year are the average for first-time writers across the module offerings in each calendar year. Core and Elective modules were offered four times annually.
Other Resources
- You may download the Common Final Examination Reports published by the CFE Board of Examiners for past CFEs on CPA Canada’s website.
- If you are a CPA student considering whether a CFE Prep course is right for you, visit our website, or read our blog post for future CFE candidates, “Choosing the Right CFE Prep Course”.
- If you were not successful in your most recent attempt at the CFE, the Densmore team is here to help. You can find more information about your next step by visiting our website, or reading some of our blog posts for experienced writers, “Didn’t Get Through the CFE” or “What Went Wrong During the CFE?”
- Our blog contains lots of useful information on CFE topics, including technical spotlights and writing tips.