After completing the two Capstone modules/courses, you can choose not to attempt the Common Final Examination (CFE) right away and wait until the next offering*.
Deferral requests should be submitted to the Order in writing to email@example.com.
*Note: If you defer the CFE, you are not required to retake Capstone 1. However, you are responsible for familiarizing yourself with whichever Capstone 1 case study linked to Day 1 of the CFE you will attend.
RECEIVING A “FAIL”
Passing Day 1 is not linked to passing Days 2 and 3. Therefore, you may need more than one attempt to pass the entire examination.
If you received a Fail, please read carefully the following sections, especially if you have failed your third attempt.
Given the circumstances surrounding the September 2019 CFE, the Profession has determined that a failing mark on the September 2019 exam will not count as an attempt, and that any student who did not pass will be eligible for a free re-write of the CFE exam, along with access to the CPA Professional Education Program’s Capstone 2 preparatory module at no charge. However, you should carefully read the following information.
You passed the CFE but did not meet the requirement regarding the Financial reporting and you still want to get the CPA auditor designation? Learn more about the public accountancy examination >
WHAT IF YOU FAIL at the 1st or 2nd attempt?
If you fail your 1st attempt at Day 1, at Days 2 and 3, or at all 3 days, you can rewrite the exam during the next scheduled CFE of your choice. However, you should read the following carefully in order to make an informed decision.
Cases available 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 (version 3 of the Marmani case will no longer be offered as previously stated)
The profession highly encourages candidates who were unsuccessful on the CFE to wait at least a full year before attempting the CFE again to allow writers to benefit fully from all available support resources, including the complete Board of Examiners CFE Report and, if they requested them, personalized Performance analysis reports (PARs), which can greatly increase their success rate on their next attempt.
In fact, if you plan on requesting a performance analysis for Day 1, for Days 2 and 3, or for all 3 days of the CFE, you should take the reports delivery date into consideration. Due to the time required to complete this analysis, you will not receive the reports in time for you to register for the next scheduled CFE.
Since results were announced on January 7, the deadline for submitting a request for a performance analysis was moved to January 31. This means that your performance analysis will be completed by June 1, 2020.
Cancellation of the May 2020 CFE
The profession will re-open the application process to allow candidates to request a performance analysis report from April 1 to 17, 2020. Candidates who make a performance analysis report request by April 17, 2020 will receive it by July 1, 2020.
- If you fail your 1st or 2nd attempt at all 3 days, you must register to rewrite all 3 days at the same sitting of an upcoming CFE. You may not register to rewrite Day 1 of one CFE and Days 2 and 3 of another.
- If you fail your 1st or 2nd attempt at Days 2 and 3 or at all 3 days, we strongly recommend that you retake Capstone 2, even though it is not required. Visit the CFE preparation page to see the tools available to you.
- If you fail your 2nd attempt at Day 1 or at all 3 days, you will have to learn the case that will be assessed during the next scheduled CFE, since each case is used for only 2 examinations.
WHAT IF YOU FAIL AT THE 3RD ATTEMPT?
If you fail Day 1, Days 2 and 3 or all 3 days, you will be expelled from the CPA program and will no longer be registered as a candidate for the profession with the Order. You may not re-register for the CFE unless you submit your file for review one year following the release of the results of your 3rd attempt. Depending on the results of this review, the Order may require you to retake the entire Professional Education Program.
Since the Profession has determined that a failing mark on the September 2019 exam will not count as an attempt, students on their 3rd attempt will not be expelled from the CPA program. They are also eligible for a free re-write of the CFE exam, along with access to the CPA Professional Education Program’s Capstone 2 preparatory module at no charge.
APPEALS OF EXAMINATION RESULTS
For a fee, you may submit an appeal of examination results for which the overall assessment is “Fail” by filling out the review and/or performance analysis form. Note that you can apply for a partial review of your results (Day 1 of the CFE, or Day 2 and 3 of the CFE). The Review request and/or Performance analysis – Common Final Examination results form must be sent to the Order to firstname.lastname@example.org before the deadline. If the appeal is successful, the fee will be refunded.
Since results were announced on January 7, the deadline for submitting a request for a re-marking was moved to January 31. This means that your re-marking will be completed by March 27, 2020.
REQUESTING A PERFORMANCE ANALYSIS
A performance analysis is available for Day 1, Days 2 & 3, or for the 3 days. A performance analysis provides candidates with specific feedback on the areas where the minimum standard was not met, and provides commentary of how to improve performance. In addition, areas where candidates performed well are also be commented on.
If your standing is changed to “Pass” after the appeals process and you have requested a performance analysis, the analysis will not be performed and all related fees will be refunded.