CPA Professional Education Program: Capstone integrative module (Capstone 1)

Learn about the Capstone 1 module of the CPA Professional Education Program (CPA PEP).

The capstone modules are culminating courses in which you demonstrate what you have learned over the course of the CPA PEP.

Capstone 1 is primarily suited for formative assessment rather than summative assessment due to the linkage with Day 1 of the Common Final Examination (CFE). While all aspects of Capstone 1 are important to the profession, not all will be replicated on Day 1 of the CFE. For instance, oral communication, leadership and teamwork competencies will not be evaluated on the CFE, so the profession has integrated summative assessment opportunities for those competencies within Capstone 1.


You will be evaluated using these three key learning activities:

  • team reflections, which include individual reflections and peer evaluations
  • board report, which is the main content deliverable for this module
  • oral team presentations and question-and-answer period, which involves a panel and peer evaluation

You will:

  • work in groups to research specific topic areas and complete assignments
  • draft and orally present a business case
  • use core and elective competencies while developing key enabling skills
  • be assessed on abilities in competencies such as teamwork, negotiation and oral communication

You will also complete a large business case, which relates to Day 1 of the CFE.

Capstone 1 cases

The Marmani Inc. case was used in the May 2019 offering of the Capstone 1 module. A sample report and appendices are also available.

Note: The sample report is not a solution and represents a single team's work.

2020/2021 cases

The following Capstone 1 cases will be offered* for the 2020 and 2021 CFEs (please note the changes to the cases being offered for the upcoming CFEs and Capstone 1 modules)

The May CFE has been cancelled due to growing concerns and uncertainties over COVID-19. If you were enrolled in the May 2020 CFE, you will be automatically enrolled in the September 2020 CFE offering

  • For the September 2020 CFE:
    • Distinct Hotels Corporation case (version 1) – introduced in the January 2020 Capstone 1 module and will also be covered in the May 2020 Capstone 1 module
    • Marmani Inc. case (version 2) – introduced in the May 2019 Capstone 1 module (Note: Version 3 will no longer be offered)
  • For the May 2021 CFE:
    • Waste Disposal Incorporated case (version 1) — introduced in the January 2021 Capstone 1 module
    • Distinct Hotels Corporation case (version 2) – introduced in the January 2020 and May 2020 Capstone 1 modules
  • For the September 2021 CFE:
    • Creative Toys case (version 1) – introduced in the May 2021 Capstone 1 module
    • Distinct Hotels Corporation case (version 3) – introduced in the January 2020 Capstone 1 module and May 2020 Capstone 1 module

*First-time writers must choose the case that was linked to the Capstone 1 module they completed. Candidates who were previously unsuccessful on the CFE and candidates who are challenging the CFE, such as international candidates, can choose from either of the available cases offered for that sitting. 

Dates for Capstone 1 module

The CPA PEP and CFE calendar provides the key dates for all CPA PEP modules as well as the Common Final Examination (CFE). Please contact your provincial/regional CPA body to see if these offerings are available in your area.