(Posted October 2026)
The CPA certification landscape is changing. Beginning in 2027, CPA Canada will launch the new CPA Professional Program, replacing the current CPA Professional Education Program (PEP) and Common Final Examination (CFE). While candidates currently in the system will have an opportunity to complete the existing program, the transition period is finite and the clock is ticking for anyone planning to enter PEP now.
If you’re considering starting CPA PEP in late 2026 or during 2027, one of the most important questions to ask is: Can I still complete PEP and write the CFE before the current program ends? The answer is yes, but only if you follow a very specific timeline.
Understanding the Transition Timeline
CPA Canada has established a transition period that allows candidates already in the current PEP program to complete their studies before moving to the new CPA Professional Program. The final offering of the CFE is scheduled for September 2028, and the final Capstone 1 and 2 offerings occur earlier that year.
Key final offerings currently published include:
- Final Core 1 offering – January 2027
- Final Core 2 offering – July 2027
- Final Elective offerings – January 2028
- Final Capstone 1 offering – May 2028
- Final Capstone 2 offering – July 2028
- Final CFE – September 2028
For candidates entering PEP during the transition period, this means there is little room for delays, withdrawals, or exam rewrites.
The Fastest Path to Completing PEP Before the Program Ends
A candidate entering PEP in early 2027 would ideally follow a schedule similar to the one below:
| Module | Approximate Timing |
| Core 1 | January 2027 |
| Core 2 | April 2027 |
| Elective 1 | July 2027 |
| Elective 2 | September 2027 |
| Capstone 1 | May 2028 |
| Capstone 2 | July 2028 |
| CFE | September 2028 |
While exact scheduling depends on module availability and registration windows, this represents one of the latest realistic pathways to complete the current certification program. This would provide a limited opportunity for a PEP exam retake.
Why Starting Earlier Matters
Whenever we speak with candidates who are debating whether to begin PEP now or wait, our advice is usually the same: start as soon as you are eligible.
The current PEP structure is well understood. There are extensive resources available, candidates know what to expect from the modules and the CFE, and there is a large body of historical performance data and preparation strategies available. Waiting reduces flexibility.
Candidates who begin earlier have more opportunities to:
- Space out modules
- Rewrite exams if necessary
- Manage busy season conflicts
- Balance work and study demands
- Build stronger technical competency before the Capstone modules and the CFE
The later you start, the more dependent your success becomes on everything going exactly according to plan.
What Happens If You Don’t Finish?
Candidates who are unable to complete PEP and the CFE within the transition window will move into the new CPA Professional Program through a transition process. While transition accommodations are being provided, candidates should not assume the path will be simpler or faster than completing the current program.
Most individuals currently in PEP, or expecting to enter soon, will likely reach certification sooner by completing the existing program rather than waiting for the new one.
How to Best Prepare for PEP Modules
One of the biggest mistakes candidates make is treating PEP like a university course.
PEP is a professional program focused on competency development, case writing, and application, not memorization. Over the years, we’ve seen several habits consistently separate successful candidates from those who struggle:
1. Prioritize Weekly Case Writing
Case writing is the single most important skill in PEP. Many candidates spend too much time reading solutions and not enough time writing their own responses under time pressure. The earlier you begin developing case-writing discipline, the easier the Core and Elective modules, Capstone 1 and 2, and ultimately the CFE become.
2. Debrief Every Case Thoroughly
Writing the case is only half the learning. The real improvement occurs during the debriefing process, where you compare your response to the solution, identify missed opportunities, and understand why certain approaches earn competency.
3. Stay Current With Technical Knowledge
Technical weaknesses compound throughout the program. Candidates should continuously review Financial Reporting, Management Accounting, Tax, Finance, Assurance, and Strategy and Governance concepts as they progress through the Core and Elective modules rather than waiting until Capstone 2.
4. Build Consistent Study Habits
PEP rewards consistency. Candidates who study a few hours each week throughout a module generally outperform those attempting to catch up in the final weeks before an exam.
5. Seek Help Early
Candidates often wait too long before addressing performance concerns. If you’re consistently struggling with case writing, time management, or technical competency, seek support immediately rather than hoping the issue resolves itself before the next exam.
We have published many blogs on how to find success in the PEP modules, which you can review here.
Final Thoughts
For prospective CPA candidates, the transition to the new CPA Professional Program creates both opportunity and urgency. The current PEP and CFE pathway remains available, but only for a limited time. Candidates who want to complete the existing certification program should enter as early as possible, follow the published schedule carefully, and leave themselves room for the unexpected. This will ensure you have the greatest flexibility.