The Common Final Examination (CFE) report: Simulations and guides for the CFE

Following every CFE, CPA Canada publishes the CFE Board of Examiners’ report, which provides feedback on candidates’ performance and commentary from the Board of Examiners.

The objectives of the CFE Board of Examiners’ Report are to:

  • explain the CFE process
  • assist the profession in improving candidates’ performance on the CFE

The report contains:

  • a message to candidates on how to improve performance from the Board of Examiners
  • the responsibilities of the Board of Examiners
  • methods used for guide-setting and marking the CFE

September 2016 CFE Reports

The CFE Report for September 2016 has been separated into two individual reports—Part A for Days 2 and 3 of the CFE and Part B for Day 1.

PART A - The Day 2 and Day 3 Report (September 2016)

In addition to the Report details listed above, the Day 2 and 3 Report details the:

  • simulations for Day 1 Phoenix Risen Incorporation (PRI) V1 and Canada Heavy Engineering Incorporated (CHEI) V2, Day 2 and Day 3
  • marking guides for Day 2 and Day 3
  • results of the marking process
  • comments from the Board of Examiners on performance on Day 2 and Day 3 simulations
PART A - The Day 2 and Day 3 Report (September 2016)
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PART B - The Day 1 Report (May 2016 and September 2016)

The Day 1 Report details the:

  • Canada Heavy Engineering Incorporated (CHEI) Capstone 1, V1 and V2 cases
  • marking guides and sample responses for CHEI Day 1 V1 and Day 1 V2
  • results of the marking process for CHEI Day 1, V1 and V2
  • comments from the Board of Examiners on performance on CHEI Day V1 and Day V2 simulations
PART B - The Day 1 Report (May 2016 and September 2016)
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May 2016 CFE Report

In addition to the report details listed above, the May 2016 CFE Report details the:

  • Capstone 1 case and Day 1 Rejuvenating Spa Inc. (RSI) V1 and V2 case
  • CHEI V1, Day 2 and Day 3 cases
  • marking guides and sample responses for RSI Day 1 V1 and Day 1 V2
  • results of the marking process for RSI Day 1, V1 and V2
  • comments from the Board of Examiners on performance on RSI Day 1 V1 and Day 1 V2 simulations

The report’s eleven appendices provide additional information on the design, guide-setting and marking processes for the CFE, as well as the board’s expectations of candidates on the two versions of the Day 1 RSI simulation.

Note: The marking guides were developed for the entry-level CPA and therefore all the complexities of a real-life situation may not be fully reflected in the content.

May 2016 CFE Report
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May 2016 CFE Report Supplement

This supplement to the May 2016 CFE Report provides commentary from the Board of Examiners on candidate performance for the Day 2 and Day 3 simulations. Marking guides and solutions, however, are not being released.

September 2015 CFE Report

In addition to the details listed above, the September 2015 CFE Report (updated September 2016) details the:

  • simulations and marking guides for Day 2 and Day 3
  • results of the marking process
  • comments from the Board of Examiners on performance on Day 2 and Day 3 simulations

The report’s seven appendices provide additional information on the design, guide-setting and marking processes for the CFE, as well as the board’s expectations of candidates on the simulations.

Note: The marking guides were developed for the entry-level CPA and therefore all the complexities of a real-life situation may not be fully reflected in the content.

September 2015 CFE Report
Download now