The Common Final Examination (CFE) is the culmination of the CPA program, and evaluates candidates on the competencies defined by the CPA Competency Map. It is a three-day exam based on business cases.
Candidates are required to demonstrate breadth in all six core competency areas: Financial Reporting, Management Accounting, Strategy and Governance, Taxation, Finance, Audit and Assurance.
In addition to demonstrating breadths, they must demonstrate depth in two core competency areas, in either Financial Reporting or Management Accounting in addition to selecting one from the other core competency areas listed above.
Those wishing to pursue a licence to practice public accounting must demonstrate depth in: Financial Reporting as well as Audit and Assurance.