Sometimes life gets in the way. There are options available to students enrolled in ACAF or CPA preparatory courses and candidates enrolled in CPA PEP who need to put their studies on hold to deal with family, work, or other personal matters.
Students enrolled in CPA Preparatory Courses and ACAF
Students can take a break from taking courses at any time; however, annual student dues must have been paid and student status maintained through annual re-enrollment to be eligible to register in courses when the break is over. Students who have allowed their student status to lapse or failed to pay annual student dues will need to complete another transcript assessment before they can register in a course.
Candidates enrolled in CPA PEP
Candidates have six years to complete their CPA PEP studies, and there are a few options for anyone needing to take time away from modules.
Option 1: Take a break
Candidates who wish to continue to accumulate time towards the profession’s practical experience requirement can pay full annual candidate dues and simply take a break from modules for one or more sessions. This time counts against the six-year requirement to complete CPA PEP. Contact the appropriate provincial CPA body for details about practical experience requirements.
Option 2: Study without working
Candidates who find themselves unemployed can pay full annual dues and continue to register in CPA PEP modules. There is a time limit to complete the practical experience requirement, however. Contact the appropriate provincial CPA body for details about practical experience requirements.
Option 3: Non-active year
A non-active year is like pressing pause. At the start of that year, which runs from April 1 through March 31 to coincide with the School’s academic and fiscal year, candidates pay fifty percent of the year’s annual candidate dues when completing annual re-enrollment. Candidates choosing this option do not accumulate time towards the practical experience requirement and cannot complete any modules during a non-active year. A non-active year does not count against the six-year requirement to complete CPA PEP; however, candidates can take only two non-active years.
The above information about available options may be different for candidates who have transitioned from legacy education or experience programs. CA legacy students should contact CPAWSB and CGA or CMA legacy students should contact their provincial CPA bodies for details.
Provincial Resources for Students and Candidates
Some provinces offer mental health and other resources to students and candidates requiring short-term assistance, and each province has scholarships and bursaries available. Check with your provincial body to find out what is available in your area.