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May 2021 CFE Changes - What They Mean to You

On March 16, 2021

Many of you will be impacted by the recent CPA Canada announcement to cancel the May 2021 CFE for writers in Ontario and Quebec. At this time, writers in the Atlantic provinces and Western Canada are still writing in May; all others will write in September. If you were planning to write in May and must now wait a little longer, here are some DOs and DON’T’s:

 

  1. DO take a breather for the next month or two. If work is busy, there is no reason to make it worse and start studying too early. And it is too early if you’re writing in September. You are almost six months away from the exam. If you start now, you will be exhausted by the time you get there.
  2. DO get yourself organized and find a study partner. We know that a study partner is especially important to help with the CFE process by keeping you accountable and on track. (More to come on why study partners are so useful in our next blog.)
  3. Do NOT start writing old UFE cases to fill in the time. They are not reflective of the CFE and can steer you in the wrong direction, both from a technical perspective and an approach perspective.
  4. Do NOT think this means you can review even more technical with these extra months. For one, you will make yourself crazy and more importantly, it will not help you pass.

So, take a breather and get yourself organized to start your technical review in May. Four to five hours a week, sticking to the commonly tested Financial Reporting and Taxation topics first (as detailed in our Scenario Flowcharts Workbook that is included in our CFE Prep course) and knocking off the rust.

 

The Densmore Team

(March 16, 2021)

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