If you are interested in Becoming a CPA, either during your MFAc program or post MFAc program, check out the information below.
As a domestic student you can contact Ronke Asalu at: Rasalu@cpaontario.ca for more questions and enquiries.
As an international student you can contact Robin Clarke at: Rclarke@cpaontario.ca
If you are equally interested in attending Info sessions and consultations, you can find full details in the Events for Internationally Educated Professionals.
Instruction for completing the Transcript Assessment Application on My Portal (Domestic Students) - Transcript Assessment Guide Domestic
Instruction for completing the Transcript Assessment Application on My Portal (International Students) - Transcript Assessment Guide IEP
Part 1: Enrollment Criteria and Requirements for CFA Program
Before becoming a CFA candidate, you must enroll in the CFA Program and register for the Level I exam. In order to register, you must meet all of the qualifications listed below.
1. Meet one of the following admission requirements:
Bachelor’s degree
Completed a bachelor’s or equivalent program and have obtained a degree from a college/university.
Undergraduate
Must have graduated 23 months or less prior to the month of graduation from a bachelor’s or equivalent program. Note that you must be within 11 months of graduation to take the Level II exam, and must have completed a bachelor’s degree or accumulated 4,000 hours of professional work experience to take the Level III exam.
Professional work experience
Have at least three consecutive years of 4,000 hours of work experience and/or higher education before registering for the Level I exam. The dates of education and professional work experience cannot overlap.
2. Have a passport for international travel:
Each CFA candidate program must have a valid passport for international travel.
3. Language:
CFA exams are conducted only in English. Candidates are required to have English proficiency to cope with different complex scenarios.
4. Live in a participating country:
There are some countries/regions that CFA Institute cannot cooperate with. Specific policy "OFAC Policy"
Part 2: Exam Information
CFA Program includes a series of three exams: Levels I, II, and III. Each level of the curriculum builds on the prior level and becomes increasingly complex.
The content covered in the CFA program exam is in 10 topics, which are: Alternative Investments, Corporate Issuers, Derivatives, Economics, Equity, Ethical and Professional Standards, Financial Statement Analysis, Fixed Income, Portfolio Management, Quantitative Methods. Review the CFA Program Curriculum Changes Guidebook for 2024 (PDF)
And each level of the exam format is different, which will be introduced in detail below.
Level I
Level Requirement:
Meet CFA Program enrollment requirements
Question Format:
Multiple choice questions
Exam Structure and Duration:
It contains a total of 180 multiple-choice questions, divided into two sessions (90 multiple-choice questions in each session:135minutes/ 2 hours 15 minutes each), with an optional break in between the sessions.
10 Year Average Pass Rate:41%
What Topics are on the CFA Level I Exam?
Session | Topic Exam | weight |
1 | Ethical and Professional Standards | 15-20% |
1 | Quantitative Methods | 6-9% |
1 | Economics | 6-9% |
1 | Financial Statement Analysis | 11-14% |
1 | Corporate Issuers | 6-9% |
2 | Equity Investments | 11-14% |
2 | Fixed Income | 11-14% |
2 | Derivatives | 5–8% |
2 | Alternative Investments | 7-10% |
2 | Portfolio Management | 8-12% |
Level II
Level Requirement:
Pass Level I CFA exam and meet enrollment requirements.
Question Format:
Vignette-supported multiple choice questions.
Exam Structure and Duration:
It contains 22 question sets, each containing 88 multiple-choice questions. The Level II exam lasts 4 hours and 24 minutes, divided into two equal exam sessions (2 hours and 12 minutes each), with optional breaks in between.
The multiple-choice questions in each set must be answered based on the information in the question set. Therefore, the questions do not stand alone as they do in the CFA Level I exam.
10 Year Average Pass Rate:45%
Level III
Level Requirement: Pass Level II CFA exam and meet enrollment requirements.
Question Format: Vignette-supported essay and multiple choice questions. Choose one of three specialized pathways.
Three specialized pathways: For the Level III exam in 2025, CFA Institute is introducing professional pathways – two new versions of Level III in Private Wealth and Private Markets – while also keeping our traditional Portfolio Management path. Candidates will be able to select a path that teaches content more directly related to their interests and aspirations. The three versions of the Level III curriculum will have a “common core” supplemented by professional content from each pathway.
65-70% of the Level III exam topic weight will relate to the "Common Core" while the remaining 30-35% will relate to the selected Pathway. Questions related to the selected pathway will be a mix of item-set and essay just as for the common core.
Exam Structure and Duration: The Level III exam consists of item sets and constructed response (essay) sets. Both question types combine vignettes with accompanying multiple-choice items for item sets and constructed response items for essay sets.
10 Year Average Pass Rate:52%
For more information about the Chartered Financial Analyst (CFA) Program, visit the Chartered Financial Analyst (CFA) Program Website.
AML Foundations
It was developed for professionals who are new to Anti-Money Laundering (AML) compliance and those whose responsibilities require a firm understanding of how to detect, prevent and report money laundering and financial crime.
AML Foundations: Course Content
The focus of study in the AML course is primarily on financial institutions including banks, credit unions, asset managers and money services businesses (MSBs).
Through the AML Foundations course, you will learn:
How to define different types of financial crime
Different types of risk and the meaning of a risk-based approach
How compliance roles work together to mitigate risk
How to identify a specific risk management plan
Due diligence processes and relevant information sources
Processes for identifying and reporting unusual and suspicious customer activity
How can I get an anti-money laundering certificate?
You can earn an ACAMS anti-money laundering certificate by completing a training course and passing a short final assessment to demonstrate your knowledge. ACAMS* offers an introductory AML certificate – AML Foundations – as well as other topic-focused foundation-level certificates - AML Foundations for Fintech, AML Foundations for Cryptoasset and Blockchain etc.
*ACAMS is the largest international membership organization dedicated to fighting financial crime.
Tips: AML Foundations is also a useful steppingstone for those looking to gain the CAMS* qualification in the future.
*What is CAMS?
CAMS (Certified Anti-Money Laundering Specialist) is a professional credential, considered a global benchmark for professionals working in the anti-money laundering field. To earn the CAMS Certification, professionals must pass a proctored exam. Becoming CAMS-certified distinguishes you as an authority on AML and counterterrorist financing and enables you to better mitigate financial crime risks in your organization.
For more information, visit the Association of Certified Anti-Money Laundering Specialists (ACAMS) website.
The CAMS Advantage
The CAMS certification is a globally recognized qualification that outlines the key principles of money laundering and how to prevent it. Individuals and teams can earn the Anti-Money Laundering Specialist certification in just four months.
CAMS Certification Requirements:
- Candidates will need to provide ACAMS with official transcripts or copies of their diplomas to prove their education.
- Candidates can only apply after becoming an ACAMS member and meeting 40 qualifying points (qualification calculator) before studying and scheduling the exam.
- Every three years, CAMS professionals are required to recertify their credentials.
Registering for the CAMS Exam:
Candidates must first apply for the CAMS exam. Once your application is approved and the fee is paid, you will receive an email with instructions on how to schedule your exam at your nearest Pearson VUE testing center.
Study Materials:
Candidates can access the ACAMS certification study materials through the Learning Management System (LMS). Once your application is accepted and payment is made, ACAMS will email you a link to the online CAMS study materials.
For more information, visit the Association of Certified Anti-Money Laundering Specialists (ACAMS) website.
Relevant MFAc courses
Core Program
GS/FACC 6300 Enterprise Risk Management: This course presents an integrated framework of risk management in organizations (ERM), analyzes risks that can be controlled and explains the control policies and procedures available to reduce risks. A major focus includes the likelihood that financial information could be misstated; controls over financial information will be a component of this course.
GS/FACC 6800 Synthesis of Theory and Practice in Accountability and Governance: Capstone course In the MFAc Program that integrates theories and practices from the previous courses and applies them in an experiential learning format. Complex multi-subject cases using real world data will be used to develop integrative decision frameworks. Students will have to show their expertise in domains such as assessment of financial health, organizational risk, ethical conduct, environmental sensitivity, regulatory compliance and governance and accountability structures. Students will also pick an entity from the private or public sector using publicly available data and as an experience in experiential learning will show the relevance of their learning to this real world domain.
Elective Courses
GS/FACC 6550—Anti-Money Laundering & Terrorist Finance
This course provides an overview of the anti-money laundering and terrorist financing requirements in Canada, the United States and internationally. Students will be able to identify
the principal elements of and create an anti-money laundering and terrorist financing compliance program, which is a high-demand job in the marketplace.
GS/FACC 6885—Regulation of Blockchain Technology and Cryptocurrencies
Blockchains are immutable digital ledger systems implemented in a distributed fashion (without a central repository) and usually without a central authority. In 2008, the Blockchain enabled the creation of modern cryptocurrencies. The first blockchain approach was Bitcoin. Blockchain goes far beyond Bitcoin and may impact how blockchain technology is applied throughout the economy. The course will examine the appropriate legal, regulatory and compliance responses that makes blockchain technologies beneficial but encourage innovation while protecting consumers and provide revenue integrity for government.
The Canadian Securities Course (CSC®) is the foundational financial services certificate required for many financial services positions to trade securities, mutual funds and alternative funds. Take the first step toward obtaining an Investment Representative or Registered Representative license.
Curriculum: What is the course syllabus?
Chapter 1 - The Canadian Securities Industry
Chapter 2 - The Capital Market
Chapter 3 - The Canadian Regulatory Environment
Chapter 4 - Overview of Economics
Chapter 5 - Economic Policy
Chapter 6 - Fixed-Income Securities: Features and Types
Chapter 7 - Fixed-Income Securities: Pricing and Trading
Chapter 8 - Equity Securities: Common and Preferred Shares
Chapter 9 - Equity Securities: Equity Transactions
Chapter 10 - Derivatives
Chapter 11 - Corporations and their Financial Statements
Chapter 12 - Financing and Listing Securities
Chapter 13 - Fundamental and Technical Analysis
Chapter 14 - Company Analysis
Chapter 15 - Introduction to the Portfolio Approach
Chapter 16 - The Portfolio Management Process
Chapter 17 - Mutual Funds: Structure and Regulation
Chapter 18 - Mutual Funds: Types and Features
Chapter 19 - Exchange-Traded Funds
Chapter 20 - Alternative Investments: Benefits, Risks, and Structure
Chapter 21 - Alternative Investments: Strategies and Performance
Chapter 22 - Other Managed Products
Chapter 23 - Structured Products
Chapter 24 - Canadian Taxation
Chapter 25 - Fee-Based Accounts
Chapter 26 - Working with the Retail Client
Chapter 27 - Working with the Institutional Client
Exam: What is the CSC® exam weighting?
Exam One Topics | Weightings |
The Canadian Investment Marketplace | 15% |
The Economy | 13% |
Features and Types of Fixed-Income Securities | 12% |
Pricing and Trading of Fixed-Income Securities | 11% |
Common and Preferred Share | 13% |
Equity Transactions | 10% |
Derivatives | 10% |
Corporations and their Financial Statements | 8% |
Financing and Listing Securities | 8% |
Exam Two Topics | Weightings |
Investment Analysis | 18% |
Portfolio Analysis | 18% |
Mutual Funds | 14% |
Exchange-Traded Funds | 10% |
Alternative Investments, Other Managed, and structured products | 16% |
Canadian Tax | 6% |
Fee-Based Accounts and Working with the Retail | 8% |
Working with the institutional Client | 10% |
What is the CSC® exam structure?
Structure | Information |
Exams | 2 |
Exam Format | Proctored (remote or in-person at a test center) |
Exam Duration | 2 hours |
Question Format | Multiple Choice |
Questions Per Exam | 100 |
Attempts Allowed Per Exam | 3 |
Passing Grade | 60% (Per Exam) |
Assignments | None |
* Attempts Allowed Per Exam: 3. The first exam fee is included in the course registration fee, and subsequent exams are subject to fees.
Enrollment:
CSC® Value Pack Combo $1620
Online, Interactive Version with Online PDF, eBook and Hard-Copy Textbook $1320
Online, Interactive Version with Online PDF and eBook Textbook $1220
Re-Enrolment to Meet CIRO Re-Write Requirements
Canadian Securities Course (CSC®) for Investors $550
Note: CSC has many registration options except the last option which only provides study materials but not exams.
For more information about enrollment, visit the Enrollment Information Page.
The most widely recognized financial planning designation in Canada and worldwide, the Certified Financial Planner® certification provides assurance to Canadians that the design of their financial future rests with a professional who will put their clients’ interests ahead of their own.
Requirement:
Candidates must complete a rigorous education program, pass a national exam, have a post secondary degree and demonstrate three years of qualifying work experience.
CFP® Exam:
Eligibility
To write the CFP exam, you must have successfully completed an FP Canada-Approved Core Curriculum education program, the FP Canada Institute™ Introduction to Professional Ethics (IPE), an FP Canada-Approved Advanced Curriculum program and the FP Canada Institute CFP Professional Education Program within the past four years.
Steps:
Step1: Technical Education – Fundamentals
Enrol in and complete FP Canada Institute™ Technical Education – Fundamentals or an FP Canada-Approved Core Curriculum Program.
Step2: Technical Education – Advanced
Enrol in and complete FP Canada Institute Technical Education – Advanced or an FP Canada-Approved Advanced Curriculum Program.
Step3: Introduction to Professional Ethics (IPE) Course
Enrol in and complete the IPE course. You may choose to complete this course before, at the same time, or after completing FP Canada Institute Technical Education – Fundamentals and Advanced or an FP Canada-Approved Core Curriculum and Advanced Curriculum Program
Note: If you're interested in enrolling in the CFP® Professional Education Program for the August 2024 cohort and beyond, note that the Introduction to Professional Ethics (IPE) course has been integrated into the program and no longer needs to be purchased separately.
Step4: CFP Professional Education Program
Enrol in and complete the CFP Professional Education Program.
Step5: CFP® Exam
Register for and write the CFP exam. The exam is a six-hour, computer-based exam consisting of a combination of stand-alone, multiple-choice (20%-30%), and case-based constructed-response (70%-80%) questions. The test specifications are published in the Exam content and format: CFP Examination. Each question on the exam focuses on specific elements of the FP Canada Standards Council™ Competency Profile and integrates several financial planning areas. The CFP exam is administered three times a year, can be taken in-person at a testing centre or via online proctoring and is available in English and French (on request).
Step6: Apply for CFP® Certification
Once you have completed three years of qualifying work experience, you are ready to apply for CFP certification.
Note: Applicants for CFP certification must hold a minimum three-year degree from an accredited Canadian post-secondary institution, or an international equivalent; or have ten years of qualifying work experience.
For more information about enrollment, visit the FP Canada Page.
Relevant MFAc courses
Core Program
GS/FACC 6200 Performance Measurement Systems: This course provides an overview of performance measurement and incentive systems (PMIS) used by companies today. Course objectives include improving students' understanding of management behavior related to PMIS, presenting examples of financial and non-financial PMIS and providing students with opportunities to develop a PMIS. The course will ensure students understand that any accountability, oversight and governance mechanism is based on a set of performance measures designed by managers and directors.
GS/FACC 6300 Enterprise Risk Management: This course presents an integrated framework of risk management in organizations (ERM), analyzes risks that can be controlled and explains the control policies and procedures available to reduce risks. A major focus includes the likelihood that financial information could be misstated; controls over financial information will be a component of this course.
GS/FACC 6800 Synthesis of Theory and Practice in Accountability and Governance: Capstone course In the MFAc Program that integrates theories and practices from the previous courses and applies them in an experiential learning format. Complex multi-subject cases using real world data will be used to develop integrative decision frameworks. Students will have to show their expertise in domains such as assessment of financial health, organizational risk, ethical conduct, environmental sensitivity, regulatory compliance and governance and accountability structures. Students will also pick an entity from the private or public sector using publicly available data and as an experience in experiential learning will show the relevance of their learning to this real world domain.
Elective Courses
GS/FACC 6870—Advanced Financial Statement Analysis:
In order for companies to be financially accountable to their shareholders, creditors, employees and the public in general, the managers running them must have a robust understanding of their businesses. It is only with this understanding that they can hope to ensure the long-term viability of their organizations, disclose useful information to stakeholders and maximize long-term shareholder value. This course will provide students with a foundation from which to analyze companies effectively and understand them comprehensively, providing the necessary prerequisite to driving for financial accountability. The course will go beyond the information that resides in the financial statements and take a more holistic approach to analysis. Each main topic covered will contribute to building core components of students' analytical toolkit. Several large public companies and their disclosures will be studied in order to apply analytical tools in various contexts and learn common analytical principles across companies. The combination of theory and practical analysis will lead to an enhanced appreciation for, and a deep understanding of, the critical success factors of any business.
Since 1974, there has only been one internal audit designation that has garnered global recognition, career advancement, and professional credibility – CIA certification is the one, 50 years of setting the gold standard. Earning the CIA credential is investing in gold.
Certification Process
01. Eligibility Requirements:
ENTRY REQUIREMENT | PASS EXAM | BECOME CERTIFIED |
---|---|---|
Master’s Degree (or equivalent) | Eligible to apply for the CIA. Can sit for exam (prior to obtaining the requisite work experience). Must pass all three exam parts before becoming certified. | 1 year of internal audit experience (or equivalent). |
Bachelor’s Degree (or equivalent) | Eligible to apply for the CIA. Can sit for exam (prior to obtaining the requisite work experience). Must pass all three exam parts before becoming certified. | 2 years of internal audit experience (or equivalent). |
Active Internal Audit Practitioner Designation Holder | Eligible to apply for the CIA. Can sit for exam (prior to obtaining the requisite work experience). Must pass all three exam parts before becoming certified. | 5 years of internal audit experience (or equivalent). |
5 Years of Internal Audit Experience (or equivalent) | Eligible to apply for the CIA. Can sit for exam. Must pass all three exam parts before becoming certified. | No additional experience required. |
*To be eligible for the CIA program, candidates must meet entry requirements and provide a character reference form and government-issued photo ID. To obtain certification, candidates must pass all three parts of the exam and provide verification of professional experience.
Acceptable Documents:
- Copy of your degree or official transcripts (If your name has changed since you earned your degree, you must also include your legal name change document.)
- Letter from university confirming degree.
- Letter from evaluation services confirming degree level.
02. Three-part CIA Exam:
The CIA exam features balanced content among three exam parts, aligns with the latest International Professional Practices Framework (IPPF) and the International Standards for the Professional Practice of Internal Auditing, and reflects the current global practice of internal auditing.
To view the CIA Exam Syllabus – Part 1, visit the CIA Part 1 Exam Syllabus.
To view the CIA Exam Syllabus – Part 2, visit the CIA Part 2 Exam Syllabus.
To view the CIA Exam Syllabus – Part 3, visit the CIA Part 3 Exam Syllabus.
*Note: You are able to take the CIA exams, however, your certification will not be awarded until your degree is completed and all program requirements met.
Continuing Professional Education (CPE)
Upon certification, CIAs are required to maintain their knowledge and skills and stay abreast of improvements and current developments by satisfying CPE requirements.
Certification holders renew their certifications annually and demonstrate their commitment to keeping their knowledge current and their skills sharp by earning and attesting to continuing professional education (CPE) credit hours throughout the year.
*Annual Certification Renewal opens 1 October each year. The renewal deadline is 31 December each year.
Supporting Requirement Exemptions:
The Professional Certification Board (PCB) has approved work experience and education exemptions for Association of Chartered Certified Accountants (ACCA) qualified members and an education exemption for U.S. Certified Public Accountant (CPA) active license holders pursuing the CIA certification. The supporting requirement exemptions were granted by the PCB because the experience and education requirements for ACCA members and education requirements for U.S. CPAs meet and/or exceed these requirements for the CIA program.
Certification/License | Supporting Requirements Waived |
Association of Chartered Certified Accountants (ACCA) Qualified Members | Education and Work Experience |
U.S. Certified Public Accountant (CPA) Active License Holders | Education |
For more information about the Certified Internal Auditor (CIA) program, visit the Certified Internal Auditor Official Website.
Certified Information Systems Auditor® (CISA®), world-renowned as the standard of achievement for auditing, monitoring, and assessing IT and business systems, also acknowledges the importance of emerging technologies.
Certification Application:
What are the requirements to become CISA certified?
- Passing the CISA exam.
- Applying for certification within the 5-year window after passing the exam.
- 5 years of IS audit, control, assurance or security work experience.
- Verification of Work Experience
ISACA Certification Exam Candidate Guide:
* ISACA’s CISA certification is globally accepted and recognized
Experience Required :
Five (5) or more years of experience in IS/IT audit, control, assurance, or security.
Experience waivers are available for a maximum of three (3) years.
* General Work Experience Waiver (Optional)
1 year can be substituted with 1 year of information systems or financial audit work experience. The experience may not be combined and must be one or the other.
Experience must be a continuous year with one organization.
Education Experience Waiver (Optional) Only 1 may be applied and documentation required
- 1-year waiver for an associate degree
- 2-year waiver for a bachelor’s, master’s or doctorate degree in any field of study
- 3-year waiver for a master’s degree in Information Systems or a related field :
- Master Software Systems Engineering
- Master Computer Science
- Master Information Assurance and/or Auditing
- Master Information Systems
- Master Computer Engineering
- Master Network Engineering or Systems
- MBA with a concentration in Information Systems
- Master Engineering Technology
- MS Computer Science and Engineering
- 2-year waiver for CIMA – Chartered Institute of Management Accountants, full certification
- 2-year waiver for ACCA member status from the Association of Chartered Certified Accountants
Exam Registration
CISA exam eligibility is required to schedule and take an exam. Eligibility is established at the time of exam registration and is good for twelve months. CISA exam registration and payment are required before it can be schedule and take an exam.
Examination proportion (Domain (%))
1 - Information System Auditing Process (18%)
2 - Governance and Management of IT (18%)
3 - Information Systems Acquisition, Development and implementation (12%)
4 - Information Systems Operation and Business Resilience (26%)
5 - Protection of Information Assets (26%)
Exam Languages
Chinese Simplified, English, French,German, Japanese, Korean, Spanish
Exam Details
Exam Length:4 hours (240 minutes), 150 multiple choice questions.
ISACA certification exams are computer-based and administered at authorized PSI testing centers globally or as remotely proctored exams.
How to become certified
"Taking and passing the CISA certification exam is just the first step in becoming certified. However, to become CISA certified, an individual must first meet the following requirements:
- Pass the certification exam
- Pay the US$50 application processing fee
- Submit application to demonstrate experience requirements
- Adhere to the Code of Professional Ethics
- Adhere to the Continuing Professional Education Policy
- Compliance with the Information Systems Auditing Standards
* Candidates have five years from passing the exam to apply for CISA certification.
For more information about the Certified Information Systems Auditor (CISA), visit the Certified Information Systems Auditor Website.