CPA National Accreditation Standards for the ACAF Program and Applied Courses Effective: May 19, 2017 CPA Canada Advanced Certificate in Accounting and Finance (ACAF)
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i Table of contents 1 Introduction...1 1.1 ACAF program structure...1 1.2 Accreditation standards...1 1.3 Profile of the updated Advanced Certificate in Accounting and Finance (ACAF) delivery program... 2 1.4 Objectives of national standards for accreditation of ACAF... 2 1.5 Applicability of national standards for accreditation................. 2 1.6 Effective date... 3 1.7 Application and review of national standards... 3 2 Accreditation standards for ACAF applied courses and programs... 5 2.1 Definition of programs... 5 2.2 Eligibility to develop and deliver ACAF applied courses and the ACAF program... 5 2.3 Objectives of accreditation standards...6 2.4 Commitment to the CPA profession...6 2.5 Ethics Policies... 7 2.6 Quality assurance policies... 7 2.7 Professors, instructors, facilitators profiles... 7 2.7.1 Faculty and teaching staff sufficiency... 7 2.7.2 Faculty and teaching staff qualification and expertise...8 2.7.3 Faculty and teaching staff educational involvement...8 2.8 The learning environment...8 2.9 Student profile and admission standards...9 2.10 Program design...9 2.10.1 Technical course sequencing... 10 2.10.2 Applied course sequencing... 10 2.11 Teaching and learning methodologies... 10 2.12 Evaluation methodologies... 10 2.13 Student achievement...11 2.14 Accredited ACAF programs...11 2.14.1 Accredited ACAF program eligibility...11 2.14.2 Student enrollment in accredited programs...12
ii CPA national accreditation standards for the ACAF program and applied courses 3 Processes and quality assurance for accreditation standards...13 3.1 A strong and vital partnership...13 3.2 Application and self-assessment...13 3.3 Documentation...14 3.3.1 Accreditation of applied courses...14 3.3.2 Accreditation of programs and of applied courses...14 3.4 Conclusions...14 3.5 Reporting...15 3.6 Approval...15 3.7 Effective date of accreditation...16 3.8 Interim-program feedback...16 3.9 Revisions...16 3.10 Renewal process...16 3.10.1 Renewed accreditation of courses or of programs...17 Appendix...19 ACAF entry courses...19 ACAF technical courses...19 ACAF applied courses...20
1 1 Introduction 1.1 ACAF program structure The Advanced Certificate in Accounting and Finance (ACAF) program is made up of 11 courses: six technical courses and five applied courses. 1. Advanced Financial Reporting 2. Corporate Finance 3. Audit and Assurance 4. Taxation 5. Intermediate Management Accounting 6. Information Technology TECHNICAL COURSES 1. Ethics and Workplace Skills 2 & 3. Electives (Choose two) Applied External Audit Applied Personal and Corporate Taxation Applied Corporate Finance Public Sector Financial Management Practice Not-for-Profit Accounting and Related Topics 4. Accounting Software Application 5. Business Applications APPLIED COURSES ACAF National Examination ACAF There are five entry courses that are prerequisites for admission to the ACAF program: Introductory Financial Accounting Introductory Management Accounting Intermediate Financial Reporting 1 Intermediate Financial Reporting 2 Business Law The CPA profession offers the entry and technical courses as part of the CPA prepartory courses. 1.2 Accreditation standards The CPA profession grants accreditation for both programs and applied courses: Accreditation of programs: Accreditation standards apply to the review, assessment and approval of programs that deliver all of the ACAF program through programs equivalent to the ACAF program and are eligible for credit towards a certificate or diploma of a degree or diploma-granting post-secondary academic institution.
2 CPA national accreditation standards for the ACAF program and applied courses Accreditation of applied courses: Accreditation standards apply to the review, assessment and approval of courses that deliver courses equivalent to the ACAF applied courses and are eligible for credit towards a certificate or diploma of a degree or diploma-granting post-secondary academic institution. 1.3 Profile of the updated ACAF delivery program After much consideration, the CPA profession has made the decision to move development and delivery of the ACAF program from the CPA profession to post-secondary institutions (PSIs) across the country. Therefore, effective January 2018 and earlier in some regions, the entire ACAF program will be delivered by select post-secondary institutions across Canada. This document outlines the necessary aspects through which PSIs can have ACAF applied courses and their ACAF programs accredited. 1.4 Objectives of national standards for accreditation of ACAF The national standards for accreditation of ACAF applied courses and accreditation of ACAF programs are contained in this document. They are principles based, with the objective of: protecting the public interest ensuring the quality of accounting education programs leading to the ACAF certificate providing an appropriate variety of paths for students to develop ACAF competencies 1.5 Applicability of national standards for accreditation Accreditation of ACAF programs and applied courses is ultimately the responsibility of each provincial CPA body or their designate. Provincial CPA bodies choosing to partner with post-secondary institutions to deliver education components equivalent to the ACAF will use these national standards to develop their accreditation processes. Provincial CPA bodies can set standards higher than the national standard. Post-secondary institutions, ACAF students and other interested stakeholders should refer to the policies of their provincial CPA body for the specific standards they must meet.
Chapter 1 Introduction 3 1.6 Effective date ACAF accreditation standards came into effect May 19, 2017. 1.7 Application and review of national standards The CPA profession will share best practices to assist in the interpretation and application of the national standards. The Pre-certification Education Directors Committee (PEDC) or a designated subcommittee of PEDC, will meet on an as-needed basis and at least annually to share best practices on a national basis to assist in the interpretation and application of the national standards for ACAF course accreditation and program accreditation by the CPA provincial bodies and to identify potential revisions to the national standards. CPA Canada is responsible for facilitating interprovincial information sharing, maintaining the national standards, and providing national support and guidance materials on behalf of the CPA profession. The national standards for accrediting ACAF applied courses and programs will be formally reviewed by the CPA profession every three years, or more frequently on an as-needed basis as determined by the profession.
5 2 Accreditation standards for ACAF applied courses and programs 2.1 Definition of programs These accreditation standards apply to a program of courses of an eligible academic institution seeking accreditation of the full ACAF program, with the exception of the ACAF National Examination. For the purposes of accreditation, a program can be a defined program or a stream of courses that demonstrates a coordinated programmatic focus on applied accountancy and finance. 2.2 Eligibility to develop and deliver ACAF applied courses and the ACAF program In order to be eligible to develop and deliver ACAF applied courses and/or the ACAF program, an institution must be a degree or diploma-granting postsecondary academic institution or a unit of such institution that is accredited by the appropriate regulatory authorities in Canada or equivalent partner to grant degrees/diplomas. The academic institution must: be established or accredited by a statute or other governmental approval offer a program or programs of academic study beyond the general and compulsory primary and secondary levels of schooling required by the government of Canada or province as the case may be
6 CPA national accreditation standards for the ACAF program and applied courses Education in the ACAF program is a combination of academic technical courses and applied education. For eligibility, a program must offer all of the competencies covered by the applied courses (note that Applied Software can be outsourced to Sage or a similar vendor). The courses or program must include coverage of all or essentially all the corresponding sections of the ACAF learning outcomes at the appropriate level, with explanation otherwise. The profession reserves the right to require additional criteria in order to assess the capability of the institution to meet the desired learning outcomes of ACAF certificate holders. 2.3 Objectives of accreditation standards The following accreditation standards are intended to balance the objectives of: student access to the ACAF student preparedness for the ACAF National Examination no undue burden on post-secondary institutions (e.g. not duplicating standards that are already enforced by other accrediting entities) 2.4 Commitment to the CPA profession Accreditation Standard 1: The post-secondary institution must demonstrate a strong commitment to provide learning and assessment to meet the ACAF requirements of the CPA profession. Programs seeking accreditation must: demonstrate a commitment to the CPA profession feature an overall design and materials that: represent the CPA profession well and demonstrate a commitment to excellence in applied accounting education meet or exceed the requirements in this document and supporting policies enable students to achieve proficiency for the relevant applied learning outcomes as prescribed in the ACAF syllabus map. share in the notion of partnership upon which accreditation is based, including the development and monitoring of metrics to strengthen and support the accreditation standards Ethics Policies
Chapter 2 Accreditation standards for ACAF applied courses and programs 7 2.5 Ethics policies Accreditation Standard 2: The institution/program must establish expectations for ethical behaviour by administrators, faculty, teaching staff, and students through appropriate, published code of ethics statements, policies and procedures. The institution must define how it applies to itself the principles of ethically and socially responsible governance. Ethical behaviour is an essential component of the CPA profession. Postsecondary institutions accredited to offer ACAF programs and applied courses must have published policies to demonstrate the importance of proper behaviour for administrators, faculty, teaching staff, and students in their professional actions, especially relating to issues of plagiarism, fraud and cheating, and demonstrate that they are consistently applied. 2.6 Quality assurance policies Accreditation Standard 3: The program is subject to quality assurance policies and systems, including: processes for the continuous review and update of the program formal external program reviews conducted on a cyclical basis Quality assurance policies and systems are a means to provide students, the CPA profession, and the public with confidence in the value and standards of a program. They also confirm that institutions and programs have processes in place to meet changes in thinking within the discipline and in the public s expectations. 2.7 Professors, instructors, facilitators profiles The ACAF program is taught by faculty, teaching staff, instructors and facilitators with appropriate levels of experience within the accounting profession. 2.7.1 Faculty and teaching staff sufficiency Accreditation Standard 4.1: The program must have sufficient faculty and teaching staff resources to provide a stable teaching environment, and course offerings on a systematic and regular basis to avoid program interruption. ACAF students benefit from a stable teaching environment that allows for student-faculty and teaching staff interaction (in-class or virtually), and hence facilitates guidance and knowledge transfer. ACAF competencies are better developed when courses can be taken in a timely manner in a programmatic sequence.
8 CPA national accreditation standards for the ACAF program and applied courses 2.7.2 Faculty and teaching staff qualification and expertise Accreditation Standard 4.2: The program must have highly qualified faculty and teaching staff, well-informed about the CPA profession s needs and challenges and knowledgeable about the evolution of the different ACAF competency areas, able to provide relevant and up to date education. Faculty and teaching staff quality directly impacts the quality of the specific courses and ultimately of the program as whole. Quality is typically measured by the qualifications, expertise and experience of the program faculty and teaching staff with emphasis on an appropriate team of designated professional accountants and/or ACAF certificate holders. Rules for faculty and teaching staff hiring and promotion are important, and an understanding of, and expertise in, ACAF competency development will also be taken into account. Understanding of the CPA profession s needs and challenges is key to the successful delivery of relevant accounting-related programs, and to the eventual career success of the ACAF student. Faculty and teaching staff knowledgeable about the evolution of the different ACAF competency areas allow regular and timely program adjustments and foster development in order to keep the ACAF curriculum relevant and up to date. 2.7.3 Faculty and teaching staff educational involvement Accreditation Standard 4.3: The program must have faculty and teaching staff committed to the success of the accredited program and involved in the preparation, supervision and teaching of the program s courses. Faculty and teaching staff commitment assures that the program is regularly assessed and adjusted to meet the ACAF student s needs. Faculty and teaching staff involvement in the program s courses permits those adjustments to be reflected in the individual courses. Although, some teaching can be delegated to outside parties such as part-time lecturers, programs are more likely to be successful when faculty and teaching staff assumes program strategic decisions, course preparation and supervision. 2.8 The learning environment Accreditation Standard 5: The program must provide a learning environment that is stimulating, respectful and supportive. Whether online or in-class, ACAF students should benefit from an enabling learning environment featuring higher education, including faculty and teaching staff-student ratios appropriate to the learning and evaluation methodologies
Chapter 2 Accreditation standards for ACAF applied courses and programs 9 employed, workshops and seminars, opportunities for one-on- one interaction, individual and group feedback, internet support and webinars, and any other activity that helps students to achieve their learning goals. Program management, faculty, and teaching staff create an environment conducive to learning. They demonstrate respect in their interactions with ACAF students. 2.9 Student profile and admission standards Accreditation Standard 6: The institution must have an established minimum admission standard to reflect the ability of students to succeed in the courses. Admission standards will take into account the ACAF students abilities to complete the program, attain their objectives and to become quality accounting technicians. The entrance requirements must also include completion of all necessary prerequisites for technical courses. At least one course in business law must be completed prior to entering the program or prior to completing the program. For more information, see the Appendix. The CPA profession offers the entry and technical courses as part of the entry requirements to the CPA Professional Education Program (CPA PEP). Selected post-secondary institutions also offer some or all of these courses. For information on the admission requirements for CPA preparatory courses, see CPA Harmonized Education Policies Vol. 3 Section 1.1 Admission requirements. 2.10 Program design Accreditation Standard 7: The program must be an integrated program designed to enable ACAF students to achieve learning outcomes as specified by the ACAF Syllabus. Educators will evaluate how well their program achieves the underlying objectives of covering the applied courses learning outcomes identified in the ACAF Syllabus. Applied courses will demonstrate sufficient opportunity for the student to develop the applied skills necessary by incorporating relevant software throughout the program.
10 CPA national accreditation standards for the ACAF program and applied courses 2.10.1 Technical course sequencing ACAF technical courses (or equivalents) can be taken in any order provided that prerequisite requirements have been met as determined by the PSI or the CPA profession through the CPA preparatory courses. For more information, see the Appendix. 2.10.2 Applied course sequencing ACAF applied courses (or equivalents) can be taken in any order provided that prerequisite requirements have been met as determined by the PSI. It is highly recommended that the Business Applications course be taken last since the ACAF National Examination is based on the content of this course. For more information, see the Appendix. 2.11 Teaching and learning methodologies Accreditation Standard 8: The program must employ an appropriate level of diversity in teaching and learning methodologies that emphasize knowledge and applied skill development. Whether courses are offered in-person or online, the program must: include diversified learning approaches as appropriate for knowledge and applied skill development offer learning activities that engage students in active experiential and reflective learning provide opportunities for robust formative feedback as a way of creating and reinforcing learning 2.12 Evaluation methodologies Accreditation Standard 9: The program must utilize various assessment methods that: include both formative and summative assessments enable students to assess their development and provide evidence of competence The use of a combination of methods is considered best practice in education and provides students with multiple methods of demonstrating competence. The assessments must: inform students of their progress contribute to their learning
Chapter 2 Accreditation standards for ACAF applied courses and programs 11 demonstrate to the CPA profession that the students have gained the necessary outcomes to be successful Students need to be provided with a number of opportunities to demonstrate their learning through assessments that are fair and valid evaluate students proficiency using common, relevant accounting, and finance software, including applications such as Microsoft Excel. The courses or program must demonstrate how the content and topic coverage are formally evaluated. Content and topics that are not formally evaluated must be identified with an explanation provided. The courses or program must include an element of individual, written evaluation, proctored where appropriate. The integrity of evaluation for online courses should be demonstrated. Courses that lend themselves to group-based evaluation will be considered where appropriate. 2.13 Student achievement Accreditation Standard 10: Students are required to achieve, for all courses both technical and applied, the greater of a passing grade or 60%, whichever is higher in each course. Student performance provides an important perspective as to the student s preparedness for the ACAF National Examination. 2.14 Accredited ACAF programs The CPA profession can accredit an ACAF program at a partner PSI if the PSI applies for accreditation and meets the accreditation criteria listed previously (Accreditation standards 1 through 10) for all applied courses and the additional criteria outlined in Sections 2.14.1 and 2.14.2. 2.14.1 Accredited ACAF program eligibility For eligibility, a program must offer all of the six technical courses and the competencies covered by the applied courses (note that Applied Software can be outsourced to Sage or a similar vendor). All necessary prerequisite courses and at least one course in business law must also be offered and required to be passed. For eligibility, a program must accept successfully completed CPA preparatory courses towards equivalent entry and technical course requirements.
12 CPA national accreditation standards for the ACAF program and applied courses In addition, the program must commit to offering at least four of the ACAF applied course electives outlined in Section 2.10.2 Applied course sequencing. If said program cannot achieve fully accredited program status, the PSI can still be accredited to deliver ACAF as long as the competencies of the applied courses (Workplace and Business Ethics, any two electives, Accounting Software Applications, and Business Applications) are covered in the courses. 2.14.2 Student enrollment in accredited programs Students are not required to complete all the technical or applied courses within a single accredited program.
13 3 Processes and quality assurance for accreditation standards 3.1 A strong and vital partnership The accreditation of ACAF applied courses and the accreditation of ACAF programs will be supported by a strong partnership between the provincial CPA body and post-secondary institutions. The CPA profession believes that this partnership is the most important factor in the success of accreditation. 3.2 Application and self-assessment To initiate the accreditation processes, post-secondary institutions inform their provincial CPA body as to elements of the ACAF program that they seek to provide. The review process comprises: information gathering self-assessment by the post-secondary institution assessment by the reviewers All information used in the review process must: be relevant to the quality of education of a student eligible to write the ACAF National Examination have a direct impact on the accreditation decision be supported by appropriate evidence be applied to achieve a consistent level of quality among accredited programs The CPA profession will provide a format for the self-assessment.
14 CPA national accreditation standards for the ACAF program and applied courses 3.3 Documentation 3.3.1 Accreditation of applied courses As part of the application, documentation includes a mapping of learning outcomes against the ACAF syllabus map. The CPA profession will provide a template to map programs against the ACAF syllabus map. NOTE: courses that have already received recognition as prerequisites to the CPA Professional Education Program do not need to receive separate accreditation as technical courses in the ACAF program. 3.3.2 Accreditation of programs and applied courses As part of the application, documentation includes, but is not necessarily limited to: expression of support for a focused program on applied accountancy from senior administration, such as the President of the postsecondary institution and/or the Dean of the faculty/school an ACAF syllabus self-assessment, including supporting detailed course outlines documentation of how the program meets the accreditation criteria set out in this document Course syllabi should include sufficient information on ethics policies; program design, structure and content; and evaluation methodology. The CPA profession will provide a template to map programs against the ACAF syllabus and guidance about required documentation for each of the accreditation processes. For further information, post- secondary institutions should contact their provincial CPA body. 3.4 Conclusions The review can reach one of four conclusions: Initial Accreditation for a program s initial application, or for a program that is re-applying after Accreditation has lapsed, subject to review after three years. Accreditation for a three-year period following implementation of these standards and thereafter for a five-year period for programs that are being renewed, in a process that is streamlined compared to initial accreditation by taking information from previous Accreditation periods into account.
Chapter 3 Processes and quality assurance for accreditation standards 15 Provisional Accreditation conditional upon changes being made as recommended during a two-year period. Upon demonstration of the implementation of the changes, accreditation can be extended through the balance of the five-year period. If the post-secondary institution does not achieve accreditation during that time period, its students during the provisional period will retain accreditation status to complete the education path they started. No Accreditation Based on their findings, the reviewers would decide the length of time before the institution could reapply, not to exceed three years. 3.5 Reporting The reviewers prepare a report to the provincial CPA body on their findings that will include: a description of the program s achievements with respect to the standards in this document any recommendations for improvement The provincial CPA body will notify the applicant of its conclusion. In the case of full or provisional accreditation, the notification will outline suggested or required improvements. 3.6 Approval The provincial CPA body approves the: accreditation of applied courses and/or accreditation of programs In the case of a decision not to accredit, the post-secondary institution may, within 30 days of notification, appeal the decision. The provincial CPA body will form an ad hoc team that is independent of the original reviewers to consider the merits of the appeal. A provisional accreditation cannot be appealed. 3.7 Effective date of accreditation The granting of accredited program status or course accreditation will take effect on the date that the CPA provincial body approves the accreditation of the program and includes the exemption from relevant elements of the ACAF Program to those students who satisfy the individual eligibility requirement.
16 CPA national accreditation standards for the ACAF program and applied courses In order to achieve accreditation, an institution must have a transition plan for students created in case of de-accreditation, which would enable students to complete the ACAF program without losing their status. 3.8 Interim-program feedback Provincial/regional CPA bodies will develop and maintain a mutually beneficial and constructive ongoing partnership with post-secondary institutions that offer accredited programs and applied courses and regularly review with the post-secondary institutions the implications of revisions to The ACAF Syllabus, changes in the program or its faculty and teaching staff and indications of the program s performance. For post-secondary institutions with accredited ACAF programs in the process of developing additional applied elective courses, evidence must be provided of progress in the development of the five applied electives. 3.9 Revisions Between formal reviews, post-secondary institutions will inform the respective provincial CPA body of significant modifications to its program or to its capacity to continue to meet the requirements for accreditation. The CPA profession will evaluate the impact of the changes and determine whether the status of the program is affected. Also, the provincial CPA body will notify the post-secondary institutions of any material changes to the: ACAF syllabus CPA National Accreditation Standards for ACAF Program and Applied Courses 3.10 Renewal process Review processes and review cycles will be developed to ensure the quality, consistency and currency of accreditation status. Between reviews, the provincial CPA body will be in regular communication with post-secondary institutions to monitor and support adherence to the CPA profession s standards.
Chapter 3 Processes and quality assurance for accreditation standards 17 3.10.1 Renewed accreditation of courses or of programs Accreditation will be reviewed after three years following implementation or for an initial application and, thereafter, every five years in the case of a renewal. Reviews will be conducted by a review team appointed by the provincial CPA body. One year before its accreditation expires, the post-secondary institution will notify the provincial CPA body of its intention to renew. Similarly, the provincial CPA body will provide the institution with one year s notice that accreditation will expire. ACAF National Examination performance will be taken into account when assessing PSIs on-going accredited status. Compared to initial accreditation, the extent of information gathering and assessment will be streamlined, and emphasize student achievement and re-mapping the learning to the ACAF syllabus. If accreditation lapses, the PSI will be required to apply as if it is an initial applicant.
19 Appendix ACAF entry courses Below is a listing of the ACAF entry courses along with the recommended prerequisite courses: Recommended entry courses Introductory Financial Accounting Introductory Management Accounting Intermediate Financial Reporting 1 Recommended prerequisite course(s) None Introductory Financial Accounting (completed before or concurrently) Introductory Financial Accounting and Introductory Management Accounting Intermediate Financial Reporting 2 Intermediate Financial Reporting 1 Business Law None ACAF technical courses Below is a listing of the ACAF technical courses along with the recommended prerequisite courses: Technical courses Recommended prerequisite courses Advanced Financial Reporting Intermediate Financial Reporting 2 Corporate Finance Introductory Financial Accounting and Introductory Management Accounting Audit and Assurance Intermediate Financial Reporting 2 Taxation Introductory Financial Accounting and Introductory Management Accounting Intermediate Management Accounting Information Technology Corporate Finance None
20 CPA national accreditation standards for the ACAF program and applied courses ACAF applied courses Below is a listing of the ACAF applied courses as of January 2017 along with the recommended prerequisite courses: Applied courses Ethics and Workplace Skills Accounting Software Application Applied External Audit Applied Personal and Corporate Taxation Applied Corporate Finance Public Sector Financial Management Practice Not-For Profit Accounting and Related Topics Recommended prerequisite courses Business Law and all technical courses Introductory Financial Accounting Ethics and Workplace Skills Ethics and Workplace Skills Ethics and Workplace Skills Ethics and Workplace Skills Ethics and Workplace Skills and Accounting Software Application Business Applications* Ethics and Workplace Skills and Accounting Software Application * It is highly recommended that the Business Applications course be taken last since the ACAF National Examination is based on the content of this course.
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