CPA Australia

CPA Program Guide— professional level

2013

© CPA Australia 2013

CPA PROGRAM GUIDE—PROFESSIONAL LEVEL

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Contents General information

1

Contacts

2

Important dates—2013

3

CPA Program professional level— education component 4 Overview 4 Objectives 4 Distance learning and independent study

4

Content and materials

5

Internet access

5

Assessment 6 Additional learning resources

6

My Online Learning

6

CPA Australia’s website and library

7

Workshops and webinars

7

Registered tuition providers

8

Learning support products

8

Current CPA Program structure from Semester 2 2009

8

Structure 9 Admission policy

9

Elective exemptions

10

Deadline to complete the CPA Program and advance to CPA status

10

Candidates admitted from 1 July 2007 onwards 10 Candidates admitted from 1 January 2004 up to and including 30 June 2007

11

Enrolment 12 Enrolment regulations

12

Enrolment procedure

14

CPD enrolment

14

Enrolment dates

14

Enrolment fee

15

CPA Australia scholarships

15

Confirmation of enrolment

15

Exam enrolment

15

Changing enrolment to an alternative segment

15

Cancellation of segment enrolment

16

Refund of enrolment fee upon cancellation of segment enrolment

16

Cancellation of workshop and webinar registration upon cancellation of enrolment 16 Delivery of segment study materials

16

Study material in accessible formats

17

Missing or damaged components

17

Replacement materials

17

Withdrawal from CPA Program professional level

18

Exams 19 Exam dates

19

Exam locations

20

Changing an exam location

21

Special exam arrangements

21

Confirmation of exam location (including venue), date and time

22

Exam structure

22

Past exam papers

22

Attending exams

23

Proof of identity

25

Exam deferral

26

Number of exam deferrals allowed

26

Updates to segment study materials

26

Cancellation of workshop and webinar registration upon deferral of exam

27

Deferral fees

27

Applying for an exam deferral

27

Special consideration for exams Applying for special consideration Exam results

27 28 30

Marking process

30

Release dates and access

31

Grades 31 Setting pass marks

31

Fail results and queries

32

CPA Program professional level— practical experience requirement 33

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General information Since its inception in 1986, the CPA Program has undergone many changes to maintain its relevance to the business world and to ensure graduates are equipped to be leaders in finance, accounting and business advice. The CPA Program continues to be recognised as a leading professional program and receives strong endorsement by graduates. Over 80 000 members have completed the CPA Program to date. The CPA Program is offered throughout Australia and internationally. In 2012, there were over 65 000 professional level segment enrolments. Most members of CPA Australia who study CPA Program segments do so in order to advance to CPA status. Many qualified CPAs also undertake one or two professional level segments as part of their commitment to continuing professional development. The CPA Program provides graduates with a world class, internationally recognised professional qualification. Employers need good strategists from a wide range of areas, whose skills are complemented by excellent business training. The CPA Program you are undertaking delivers top quality graduates who provide advice of the highest order to the business world. More than 24 000 CPA Australia members hold senior leadership roles, including more than 15 000 members at Chief Financial Officer or Chief Executive Officer level or in business owner roles. CPA Australia strives to continually enhance the CPA Program’s global relevance and provide more ways for people to develop a career built on professional accounting skills. The CPA Program ensures candidates develop the appropriate skills, knowledge and values required of a CPA through a combination of coherent learning experiences. The CPA Program Guide—professional level (the Guide) provides essential information for candidates about to begin, or who are continuing, their CPA Program professional level studies and practical experience. It contains all the information you need about the structure of the CPA Program professional level, its administrative arrangements, contact details and other important features. The Guide has been divided into sections to make it easier for you to find information relevant to you. Please use the bookmarks and the links included throughout the Guide to ‘click through’ to the relevant section of information. As a CPA Program candidate it is essential that you familiarise yourself with the contents of this Guide and keep it handy at all times. Best wishes with your studies.

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Contacts Use the links below to access information about each point in the relevant section of the Guide. If you have any questions after reading this information, please contact CPA Australia or Deakin University as detailed below. For queries about: ■

Confirmation of enrolment

■

Cancellation of enrolment

■

Exam location changes*

■

Exam deferral

■

Special consideration

■

Special exam arrangements

■

Changing your personal details for exam administrators’ records

■

Membership and all other matters

For queries about: ■

Delivery of segment study materials if confirmation of enrolment has been received*

■

Missing or damaged materials*

■

Exams for candidates in remote areas in Australia (Other Australia—REMO) and remote areas overseas (Other overseas—OSEA)

■

Exam notification

■

Receiving exam results via SMS and accessing exam results on the Internet

Contact: CPA Australia’s divisional offices Australian members can call 1300 73 73 73 to be automatically directed to their divisional office. Email: [email protected]

Contact: Business Services Group Division of Student Administration Deakin University Phone: +61 3 5227 3200 or 1800 032 294 (toll free within Australia) Hours of operation: 8.30 a.m. to 5.00 p.m. (AEST) Monday, Tuesday, Thursday and Friday 9.30 a.m. to 5.00 p.m. Wednesday Facsimile: +61 3 5227 3221 Email: [email protected]

For queries about the practical experience requirement

Email: [email protected]

Scan and email, fax or mail applications for:

Contact: Member Administration CPA Australia GPO Box 2820 MELBOURNE VIC 3001 Email: [email protected] Facsimile: 1300 78 76 73 (within Australia) or +61 3 9606 9844 (outside Australia)

■

Enrolment

■

Cancellation of enrolment

■

Exam deferral

■

Special consideration

Application forms for Enrolment, Cancellation of enrolment, Exam deferral and Special consideration can be found on the CPA Australia website If you have misplaced your materials or require replacement materials for another reason

Email: [email protected]

To cancel your workshop/webinar registration if you cancel or defer your enrolment prior to the workshop/webinar

Email: [email protected]

For queries about My Online Learning

Contact: Member Advisory Phone: 1300 85 77 05 (within Australia), +61 3 9606 9677 (outside Australia) Hours of operation: 8.30 a.m. to 5.00 p.m. (AEST) Monday to Friday Email: [email protected]

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Important dates—2013 These dates are correct at the time of publication (December 2012) but are subject to change. Please refer to the website for current dates. For confirmation of your exam location (including venue), date and time, review your Exam Notification Letter.

Semester 1

Semester 2

10 December 2012

17 June 2013

Early bird enrolment closing date

15 January 2013

9 July 2013

First cancellation date (cancellations made after this date will not receive a refund). Last day to vary enrolment and update postal address

15 January 2013

9 July 2013

Final enrolment closing date

30 January 2013

22 July 2013

Semester begins

11 February 2013

5 August 2013

Enrolment confirmation letter should be received by email or mail before

11 February 2013

5 August 2013

Study materials should be received by mail by

11 February 2013

5 August 2013

My Online Learning access available (until 6.00 a.m. AEST/AEDT* on the exam date)

11 February 2013

5 August 2013

12 March 2013

2 September 2013

Enrolment opens

Deferral closing date Special exam arrangements closing date

12 March 2013

2 September 2013

Final cancellation date (last day to cancel enrolment)

12 March 2013

2 September 2013

Exam location change closing date (Standard, REMO and OSEA)

12 March 2013

2 September 2013

9 April 2013

1 October 2013

16 April 2013

8 October 2013

Exam Notification Letter and Exam Regulations and Instructions notice to be received in the mail by Global Strategy and Leadership exam pre-seen information to be received by mail and available on My Online Learning Exam dates:

Ethics and Governance

29 April 2013 a.m.

22 October 2013 a.m.



Global Strategy and Leadership

29 April 2013 p.m.

22 October 2013 p.m.



Financial Reporting

30 April 2013 a.m.

23 October 2013 a.m.



Strategic Management Accounting

30 April 2013 p.m.

23 October 2013 p.m.



Advanced Taxation

2 May 2013 a.m.

24 October 2013 a.m.



Singapore Taxation

2 May 2013 a.m.

24 October 2013 a.m.



Malaysia Taxation

2 May 2013 a.m.

24 October 2013 a.m.



Contemporary Business Issues

2 May 2013 p.m.

24 October 2013 p.m.



Advanced Audit and Assurance

3 May 2013 a.m.

25 October 2013 a.m.



Financial Risk Management

3 May 2013 p.m.

25 October 2013 p.m.

Special consideration application closing date

13 May 2013

4 November 2013

Instructions for accessing exam results (via SMS and online) to be received in the mail by

3 June 2013

25 November 2013

14 June 2013

6 December 2013

Exam results released by SMS from 12.00 p.m. AEST/AEDT*

Exam results available online from 12.00 p.m. AEST/AEDT* 14 June 2013 (accessible until 30 August 2013)

6 December 2013 (accessible until 21 February 2014)

Transcripts mailed from Melbourne, Australia

21 June 2013

13 December 2013

Personal analysis letters available online

22 June 2013

14 December 2013

Practical experience requirement enrolment *

(accessible until 30 August 2013) (accessible until 21 February 2014)

Available all year

Available all year

AEST/AEDT refers to Australian Eastern Standard Time (AEST) or Australian Eastern Daylight Time (AEDT). Please note that all closing dates end at midnight AEST or AEDT on the specified day.

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CPA Program professional level— education component

Overview Objectives The CPA Program professional level provides graduates with a world class, internationally recognised qualification. The syllabus for the CPA Program professional level focuses on strategy, leadership and international business. Content is globally relevant, with a focus on providing flexible learning and delivery modes. As well as ensuring that graduate CPAs are well informed about the latest technical issues and developments in the profession, the program is positioned within the broader context of contemporary business, including: ■ corporate governance, ethics and integrity ■ development and implementation of business strategy ■ decision-making and leadership. The CPA Program professional level equips graduates with strong analytical and problemsolving capabilities designed to add real value.

Distance learning and independent study The CPA Program professional level is offered via distance learning mode. Candidates are supplied with a printed study guide and access to a range of innovative learning technologies on My Online Learning, CPA Australia’s online learning management system. Distance education provides: ■ a flexible and accessible approach ■ an opportunity for candidates to demonstrate greater self-discipline and responsibility for the planning and assessment of their own learning which is in keeping with a professional accountant’s responsibility for ongoing self-development.

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To be prepared for the segment exam you are recommended to: ■ study at least 10–15 hours per week (as a general guide) ■ study the segment materials thoroughly and rigorously, and work systematically through each module in the study guide including any associated readings ■ complete the in-text questions ■ use the Target Weekly Schedule Bookmark and the calendar on My Online Learning to assist you to plan a suitable study schedule. Each professional level segment offered is postgraduate equivalent, hence it is strongly recommended that candidates who undertake the CPA Program professional level in conjunction with other full-time commitments enrol in only one segment at a time.

Content and materials The CPA Program professional level education component incorporates advanced content and each segment has a strong practical orientation. Authors of the segment materials are drawn from industry, commerce, the public sector and tertiary education, and the materials are reviewed by panels of professional members employed in relevant accounting and finance fields. All segments are regularly updated to reflect current practice, standards and legislation. Each segment includes: ■ a printed study guide ■ additional important materials such as a Target Weekly Schedule Bookmark and My Online Learning Information Sheet ■ self-assessment questions that assist candidates to understand and review the topics covered. In-text reflective questions and numbered exercises with answers provided are also included. Some segments include case scenarios to be worked through with answers provided for reference ■ interactive computer-based learning material on My Online Learning for most segments, with some segments including reference items that assist candidates to understand and apply concepts to practical situations ■ references to relevant standards and legislation which may be accessed through web links on My Online Learning or purchased from sources such as CCH, Butterworths, Pearson or Australian Tax Practice. Alternatively, the CPA Library holds a range of legislation to which members can refer. All members must have access to relevant accounting and auditing standards and professional statements. Access is available via the standard setters’ websites or the CPA Australia website. Where relevant for the segment you are studying, you may need to print out significant portions for exam purposes. Any additional material required is listed in the introductory section of each study guide. This section may also list materials that are recommended for further reading. These are intended to provide a broader background to the study topic. A summary of each segment’s aims, objectives and content is available on the CPA Australia website. To ensure you have continued access to important online resources and tools, including the ability to access your exam results online and via SMS, you need to ensure your membership remains current and financial. Failure to renew your membership will result in loss of access to member-only information and resources.

Internet access Candidates are required to have access to the Internet and a current email address. During the semester candidates will receive important information via My Online Learning and email. These provide a quick method of contact if there are important changes or updates. If you need to change your email address or other contact details, please visit the Update my profile section on CPA Australia’s website. This will automatically update your details on the study group listing and in CPA Australia’s membership database. CPA Australia will not be held responsible for your failure to keep abreast with relevant matters.

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Assessment Formal assessment for most segments is by three-hour open book exam with 15 minutes’ reading time. The exam development process involves professional specialists writing exam questions, reviewing the questions and moderating the final exam paper. The exam panel reviews the exam paper to ensure that it reflects the standards expected of entry level CPAs. All of the segment study guide material is examinable, as is the content on My Online Learning and the relevant standards and legislation where advised. For Singapore Taxation, the exam is closed book, with candidates able to bring only unmarked copies of the Income Tax and GST Acts into the exam. Exams for Ethics and Governance, Financial Reporting, Malaysia Taxation, Singapore Taxation, Strategic Management Accounting and Global Strategy and Leadership include assessment of candidates’ higher order conceptual, analytical and problem-solving skills through written response exam questions. Compulsory segments also contain a multiple choice component. Exams for most of the elective segments comprise multiple choice questions. This objective assessment method is recognised as the best means to test technical skills and it enables reliable, fair and efficient testing of all levels of knowledge. It also ensures that results are made available in a timely manner. For further information regarding the exams, see the Exams section in this guide. Information on the structure and weightings of the exams is included for each segment on the CPA Australia website and in the ‘Regulations and Instructions’ notice that is mailed to candidates before their exams.

Additional learning resources My Online Learning provides access to a range of important study resources including announcements, segment study content updates, discussion forums and study groups. My Online Learning is available to all candidates as part of the fee paid at the time of enrolment. A range of fee-based supplementary learning resources are also available to candidates. See the sections on workshops and webinars, tuition providers and supplementary learning below. My Online Learning, study groups and discussion forums are available to all candidates as part of the fee paid at the time of enrolment. You are encouraged to make the most of the opportunities provided by these resources to discuss technical issues arising out of the study materials and to network with other candidates. A range of fee-based supplementary learning resources are also available to candidates. See the sections on workshops and webinars, tuition providers and supplementary learning below.

My Online Learning Access to My Online Learning is provided to keep you up to date with important segment developments and to enhance your learning and understanding. As such, My Online Learning is a tool that you should access at least once a week to support your studies. My Online Learning is available free of charge to candidates with current and valid enrolments in the CPA Program professional level along with current and active membership. Please note, if you have deferred your exam in the current semester, your access to My Online Learning will be transferred to the following semester. If you fail to renew your membership, you will not have access to My Online Learning until you renew your membership. My Online Learning can be accessed from anywhere in the world via CPA Australia’s website. All you need is your existing website username and password. My Online Learning is open from semester commencement until the exam date for the relevant segment.

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My Online Learning may contain: ■ Announcements on important aspects of the CPA Program professional level segments. ■ Calendar (pre-loaded with important dates) that may be personalised. ■ Limited Modules Online covering approximately the first two weeks of the syllabus to ensure you can start your readings at semester commencement. ■ Critical Study Guide Content Updates may be posted on My Online Learning during the semester. Study guide content updates are examinable. ■ Discussion forums for you to post queries about the technical content of the segment. ■ Study Groups for you to network with other candidates who have also elected to join a study group. ■ Electronic self-assessment tests (e-SATs). These are practice questions which will help you to consolidate your understanding of concepts covered in the segment materials. ■ Workshop materials developed for the face-to-face workshops. ■ Global Strategy and Leadership (GSL) candidates can access important exam pre-seen information from the date indicated in the Important dates. ■ Contemporary Business Issues (CBI) candidates will need to use My Online Learning to access the CBI Desk which contains Modules 2 and 6 online, additional online content, supplementary learning resources and candidate IT support. Information on how to use My Online Learning is included with your segment materials and is available on the website, including a demonstration video.

CPA Australia’s website and library Candidates are encouraged to visit CPA Australia’s website to access a range of member services such as CPA Australia library resources, standards and professional statements and My Online Learning. Members must be registered users of the CPA Australia website to gain access to these services. Registering is simple—just go to the CPA Australia website.

Workshops and webinars For most segments, a range of workshops are available to purchase for candidates who wish to take part in face-to-face discussion of specific topics within the segment materials. These workshops are voluntary and are offered as an additional resource to assist you with your study. For most segments, webinars are also available for candidates to purchase. Webinars are often a condensed version of the concepts covered via the face-to-face workshops. Workshops and webinars typically focus on providing additional learning around some of the more challenging topics and concepts within the study materials. To gain the greatest benefit from your investment in workshops and webinars, it is important that you complete your study of any relevant modules prior to attending. PDFs of face-to-face workshop materials are also available on My Online Learning for all candidates to download. If you have registered to attend a face-to-face workshop, you will need to print the notes from My Online Learning to take to the workshop. An announcement will be posted on My Online Learning when the workshop materials are available. For candidates in Australia, information about workshops and webinars and a registration brochure can be obtained on CPA Australia’s website or by calling 1300 73 73 73. For candidates outside Australia, please contact your divisional office for information about workshops and webinars. Note: Candidates enrolled in Singapore Taxation are expected to attend face-to-face tutorials during the semester. The tutorials are only offered in Singapore and are part of the Singapore Taxation study program.

CPA PROGRAM GUIDE—PROFESSIONAL LEVEL

Registered tuition providers You are able to source tuition via traditional face-to-face or online methods for CPA Program professional level segments from registered tuition providers. The tuition provided is based on current CPA Program professional level learning objectives and study materials. A list of current registered tuition providers can be found on CPA Australia’s website. If you are interested, you should contact the chosen provider directly to purchase and enrol in your tuition program. Note there are no tuition providers available for Singapore Taxation.

Learning support products A range of quality learning products are available for you to purchase to further aid your core study program and preparation for exams. This will appeal to candidates looking to invest in additional learning resources other than those provided in the current standard distance education offer. These include products such as revision kits with practice exams and handy reference pass cards. Visit the website for more information.

Current CPA Program structure from Semester 2 2009 As shown in the following CPA Program diagram, the CPA Program consists of two levels: ■ The foundation level—core knowledge requirements that can be fulfilled through CPA Australia’s series of eight foundation exams or through an accredited or recognised higher-education degree program. ■ The professional level—six postgraduate level segments plus the 36-month practical experience requirement.

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Structure To successfully complete the CPA Program, candidates commencing from Semester 2 2009* onwards will need to complete four compulsory segments and two elective segments, chosen from a list of four, within six years of becoming an Associate member, and also complete the practical experience requirement. *

Note: If you commenced the CPA Program before Semester 2 2009, see the ‘Rules and regulations’ on CPA Australia’s website for the completion requirements.

Enrolment guidelines: ■ It is recommended that you enrol in Ethics and Governance as part of your first enrolment. ■ You will not be able to enrol in Global Strategy and Leadership until all other compulsory segments have been successfully completed. ■ If you are working full-time, you are strongly advised to enrol in only one segment per semester.

Admission policy It is possible to be admitted to Associate membership of CPA Australia without having completed studies in auditing and/or taxation at undergraduate level. These segments must, however, be completed in order to advance to CPA status; therefore, Associate members must complete the auditing and/or taxation segments at postgraduate level in the CPA Program in place of elective segments. For example: Candidate A commences their CPA Program in Semester 2 2009. They have a major in accounting but have not completed studies in auditing; therefore, their CPA Program will look like this: ■ Ethics and Governance ■ Strategic Management Accounting ■ Financial Reporting ■ Elective ■ Advanced Audit and Assurance ■ Global Strategy and Leadership. or Candidate B commences their CPA Program in Semester 2 2009. They have a major in accounting but have not completed studies in auditing or taxation; therefore, their CPA Program will look like this: ■ Ethics and Governance ■ Strategic Management Accounting ■ Financial Reporting ■ Advanced Audit and Assurance ■ Advanced Taxation (or local taxation variant) ■ Global Strategy and Leadership. As part of the admission process, you will be asked for information about the subjects you completed as part of your previous studies and whether you have completed studies in auditing and taxation. Your letter advising you of the outcome of your membership entry pathways assessment will tell you what you must do to successfully complete the CPA Program.

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Elective exemptions A total of two exemptions in the CPA Program professional level may be granted on the basis of prior learning which is assessed as being of equivalent content and depth. Prior learning must be postgraduate tertiary education and/or professional qualifications. Only elective segments available in the current professional level of the CPA Program are considered: ■ Advanced Audit and Assurance ■ Advanced Taxation, Malaysia Taxation or Singapore Taxation ■ Contemporary Business Issues ■ Financial Risk Management. No exemptions will be granted for the other professional level segments. Please note that these exemptions are available only to candidates who have met CPA Australia’s educational requirements for both core knowledge areas of taxation and auditing prior to the commencement of the professional level. Courses (including Master of Professional Accounting) and subjects accredited by CPA Australia for exemptions in the core knowledge areas of the CPA Program foundation level are not eligible for exemptions into the professional level. Supporting documents sent in with your membership entry pathways assessment form will be assessed against the elective professional level segments and your assessment result will state if you are eligible for any exemptions. CPA Australia no longer recognises the completion of a specialist Masters degree as a basis for granting exemptions from two elective segments for the CPA Program professional level.

Deadline to complete the CPA Program and advance to CPA status Candidates admitted from 1 July 2007 onwards All new members admitted from 1 July 2007 onwards must complete the CPA Program professional level, including the practical experience requirement, and advance to CPA status within six years of admission to Associate membership. All candidates must also hold a degree or a postgraduate award recognised by CPA Australia before they can advance to CPA status. Associate members admitted from 1 July 2007 onwards who do not fulfil these requirements and fail to advance to CPA status within six years of admission will be required to relinquish membership. If you experience difficulty completing the CPA Program and/or advancing to CPA status in the allotted six years, you can request a review of your circumstances under an appeals process. You may apply for a review based on personal hardship or illness. You will be required to substantiate that had it not been for the hardship/illness suffered that the CPA Program or advancement would have been completed in the time required. The appeals process will consider applications in light of the individual circumstances and may recommend additional time in order to complete the CPA Program and advance to CPA status.

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Candidates admitted from 1 January 2004 up to and including 30 June 2007 All new members admitted from 1 January 2004 up to and including 30 June 2007 must complete the CPA Program, including the practical experience requirement, and advance to CPA status within eight years of admission to Associate membership. Candidates admitted from 1 January 2007 up to and including 30 June 2007 have six years to complete the CPA Program provided the CPA Program is completed within the eight year advancement limit. Candidates admitted from 1 January 2004 up to and including 31 December 2006 have five years to complete the CPA Program provided the CPA Program is completed within the eight year advancement limit. All candidates must also hold a degree or a postgraduate award recognised by CPA Australia before they can advance to CPA status. Associate members who do not fulfil these requirements and fail to advance to CPA status within eight years of admission will be required to relinquish membership. If you experience difficulty completing the CPA Program in the allotted time, you are able to continue your studies under the extension of time rollover provision provided you complete within the eight-year advancement limit. Under a rollover, your CPA Program commencement date and completion deadline are rolled forward. For each additional semester the deadline is extended, the commencement date is brought forward by the equivalent number of semesters. All results recorded prior to the revised commencement date will be cancelled from your academic transcript. The practical experience requirements for the new start date will apply to you. To discuss and apply for an extension of time rollover contact your divisional office.

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Enrolment

All members of CPA Australia are eligible to enrol in the CPA Program professional level segments, including the exam. In addition, members may purchase the segment study guides for reference purposes only. For information on how to enrol in the practical experience requirement, refer to the CPA Program professional level—practical experience requirement section.

Enrolment regulations 1

Enrolment in the CPA Program professional level commences the first time a candidate enrols in a segment or segments. Enrolments can be completed online or by submitting an enrolment form.

2

To complete the CPA Program, candidates must pass CPA Program professional level exams in six segments (four compulsory and two electives) plus meet the practical experience requirement. The compulsory segments are: ■ Ethics and Governance ■ Financial Reporting ■ Strategic Management Accounting ■ Global Strategy and Leadership.

3

Candidates can enrol in any available CPA Program professional level segment in their first enrolment, excluding the capstone segment Global Strategy and Leadership. To enrol in the capstone segment, Global Strategy and Leadership, candidates must have successfully completed all other compulsory segments of the CPA Program.

4

Enrolments require a completed and signed enrolment application to be lodged online or via mail/fax with the prescribed fee with CPA Australia by the advertised final closing date for enrolments.

5

If the prescribed fee is not included with the signed enrolment application the enrolment cannot be accepted. This may mean the enrolment will not be available until the following semester.

6

Enrolment will be accepted by CPA Australia until the advertised closing dates (see Important dates). Late enrolments will not be accepted by CPA Australia.

7

Candidates enrolling for the purpose of advancement to CPA status or for continuing professional development (CPD) purposes will be automatically enrolled in the professional level exam for that semester. Candidates who enrol for reference purposes only will not be enrolled in the exam.

8

Non-members are not permitted to enrol in the CPA Program professional level. Enrollees must be of Associate (ASA) or CPA/FCPA status with current membership and must maintain membership while enrolled in a professional level segment of the CPA Program.

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13

Members joining CPA Australia from 1 July 2007 onwards will have six years in which to complete the CPA Program professional level and practical experience requirement and apply to advance to CPA status. Members who joined CPA Australia between 1 January 2004 and 30 June 2007 will have eight years in which to complete the CPA Program and apply to advance to CPA status.

10 It is recommended that candidates who are working full-time limit enrolment to one segment per semester. Candidates may enrol in up to three segments per semester. 11 Candidates admitted without undergraduate taxation and/or auditing must enrol in the Advanced Taxation (or local taxation variant) and/or the Advanced Audit and Assurance professional level segments in the CPA Program professional level in place of electives. 12 A maximum of two exemptions in elective segments only will be offered to candidates who satisfy the requirements as outlined in our recognition of prior learning policy which can be found on CPA Australia’s website. Applications must be forwarded with admission forms and your CPA Program professional level enrolment form to GPO Box 2820, Melbourne, Victoria, 3001. If you are based in Asia, please forward documentation to your local office. 13 Changes to enrolments in professional level segments will not be accepted after the advertised early bird closing date for enrolment. 14 Candidates are not permitted to withdraw from the CPA Program professional level within two semesters of their initial enrolment. 15 Cancellation of enrolment in the professional level segments will be accepted up to the advertised closing date for cancellation, but refunds for enrolments will not be issued after the advertised early bird closing date for enrolment. 16 If a candidate fails a professional level exam, does not attend a segment exam or is not granted an exam deferral by CPA Australia, the candidate must re-enrol and pay the prescribed fee to continue with that professional level segment. No refund will apply. 17 A professional level exam deferral fee will be payable for all deferral applications received by CPA Australia. See Important dates for deferral closing dates. 18 Exam deferral is to the next semester only. 19 Any additional reference material required for each professional level segment, such as relevant legislation, is outlined in the introductory section of the segment study guide. Relevant legislation can be obtained from sources such as CCH or Butterworths and is not supplied as part of the study guide material. 20 Candidates must have access to relevant accounting and auditing standards and professional statements. Access is available via the standard setters’ websites or the CPA Australia website. It will be necessary to print the relevant sections for exam purposes. 21 All candidates must have access to the Internet and a valid email address for the purposes of receiving updated information throughout the semester and to access study material for some segments. It is the candidate’s responsibility to provide current personal information to CPA Australia including name, mailing address, email address and contact numbers at all times. If this is not provided or kept up to date, materials may be sent to an incorrect address and candidates may be charged a re-issue fee; and candidates may not receive critical information relating to their enrolment in the CPA Program professional level. 22 If members intend to enrol in CPA Australia’s public practice distance learning program, the CPA Program Advanced Taxation segment must be completed as a prerequisite. Alternatively, the CPA Program Advanced Taxation segment can be studied concurrently with the public practice distance learning program. This requirement does not apply to members in New Zealand or members overseas who do not wish to obtain a public practice certificate to offer public accounting services in Australia. (You must be a CPA to enrol in the public practice distance learning program.) 23 All candidates are bound by the terms and regulations as detailed on the application form and in the CPA Program Guide—professional level. 24 All closing dates are at midnight Australian Eastern Standard Time or Australian Eastern Daylight Time.

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Enrolment procedure If you are working full-time, it is recommended that you limit your enrolment to one segment per semester. A maximum of three professional level segments may be undertaken per semester. You may apply online: ■ for a membership entry pathways assessment ■ to activate your Associate membership ■ enrol in your first segment of the CPA Program professional level. If you have difficulty applying online, please contact your divisional office. The timeframe provided to complete the CPA Program and advance to CPA status means it is not necessary to enrol in a segment every semester. However, any semesters in which you do not enrol in a segment are included in your timeframe to complete the professional level. You must submit an enrolment application and fee for each semester that you wish to enrol. Enrolment forms are not sent automatically to active CPA Program professional level candidates each semester. To enrol in your next CPA Program professional level segment, you can enrol online at any time during the enrolment period each semester. If you have difficulty enrolling online, please contact your divisional office. There is no limit to the number of times you may enrol in a particular segment. If you fail a segment exam, cancel a segment enrolment or do not attend an exam and have not been granted an exam deferral, it is necessary to enrol in the segment again in a later semester and pay a new enrolment fee if you wish to continue with the segment. Enrollees must be of Associate or CPA status with current membership, and must maintain membership while enrolled in a professional level segment of the CPA Program. Failure to maintain current membership will result in the loss of access to all member online facilities, including the website, My Online Learning resources and Manage your CPA Program applications—significantly impacting your exam preparation.

CPD enrolment If you have completed the CPA Program professional level and wish to enrol in an individual segment or segments for the purpose of continuing professional development (CPD), please download an enrolment form from the website and send it with your fee payment to the appropriate address prior to the enrolment closing date for the semester you wish to enrol in. Members who have completed the CPA Program and wish to purchase segment materials for reference purposes can do so at any time during the enrolment period up to the enrolment closing dates below by downloading the enrolment form from the website and submitting it as indicated on the form.

Enrolment dates Early bird enrolment closing dates are as follows: ■ For Semester 1 2013 segment enrolments: 15 January 2013 ■ For Semester 2 2013 segment enrolments: 9 July 2013 Enrolments will be accepted (at the full enrolment fee) after the advertised early bird enrolment closing date up to the enrolment final closing date of: ■ For Semester 1 2013 segment enrolments: 30 January 2013 ■ For Semester 2 2013 segment enrolments: 22 July 2013

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Enrolment fee A fee is payable for each new enrolment in a segment. Please check the website for important dates and fees. The CPA Program professional level segment fee for members for 2013 is AUD 950. If you enrol by the early bird enrolment closing date listed above, the enrolment fee payable will be AUD 850. Segment enrolment fees are not subject to the Australian Goods and Services Tax (GST) because the CPA Program professional level is a GST-free education course. Information regarding reimbursement of the segment enrolment fee following cancellation of a segment enrolment can be found in the Refund of enrolment fee upon cancellation of enrolment section.

CPA Australia scholarships A limited number of scholarships are available to assist with fees for CPA Program professional level segments. For more information about scholarships, go to the CPA Australia website.

Confirmation of enrolment If you enrol online, you will receive automatic confirmation of enrolment. If you enrol using the enrolment form, confirmation of enrolment will be mailed to you following the early bird enrolment closing date each semester. If you enrol by the advertised early bird closing date, you should receive confirmation by the date shown in the Important dates. If you have enrolled before the advertised early bird closing date for enrolment but do not receive confirmation by these dates, please contact your divisional office.

Exam enrolment With the exception of enrolments for reference purposes only, enrolment in a segment includes automatic enrolment in the exam conducted in the semester of enrolment. Further information regarding segment exams is provided under Exams.

Changing enrolment to an alternative segment You may change a segment nominated at the time of enrolment to an alternative segment via the online Manage your CPA Program application or by submitting a written request to Member Administration or to your divisional office if you are based in Hong Kong, Malaysia or Singapore. Requests must be submitted no later than the advertised early bird enrolment closing date shown in the Important dates. Requests received after the early bird enrolment closing date cannot be accommodated and no refund will be available should you subsequently decide to cancel your enrolment.

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Cancellation of segment enrolment If you have enrolled in a segment and do not wish to continue or are unable to continue in the segment, you can cancel your enrolment in an individual segment up until the advertised closing date each semester. Following cancellation, all record of the segment enrolment will be deleted from your printed results transcript. If you wish to postpone a segment exam, rather than cancel your enrolment, you may be eligible to apply for an exam deferral. You cannot sit a segment exam and then apply for a segment cancellation or deferral in the same semester. If you sit the exam, the result stands and no cancellation or deferral is allowed. If you sit the exam and your exam sit or your exam preparation was adversely affected by exceptional circumstances beyond your control you are able to apply for special consideration up to the closing date in each semester. You may cancel a current segment enrolment online via Manage Your CPA Program, and receive automatic confirmation. To apply offline, please: ■ complete the Cancellation of professional level segment enrolment application form, available on the CPA Australia website. ■ sign the printed form and send it to Member Administration. All applications must be received by CPA Australia no later than the advertised closing date shown in the Important dates. Applications received after the closing date will not be considered.

Refund of enrolment fee upon cancellation of segment enrolment A full reimbursement of the segment enrolment fee can be provided if a request to cancel a new segment enrolment (see previous section) is submitted online or received by Member Administration no later than the first cancellation closing date shown in the Important dates. No refund of the enrolment fee can be provided if an application to cancel a segment enrolment is received after the first cancellation closing date. Also, it is not possible to reimburse or credit fees for segment enrolments cancelled or deferred from previous semesters.

Cancellation of workshop and webinar registration upon cancellation of enrolment Please note that registrations for workshops and webinars are not automatically cancelled if you cancel your enrolment in a segment. To cancel any of your workshops or webinars please contact CPA Australia on 1300 73 73 73 or email [email protected].

Delivery of segment study materials Segment study materials are despatched within four weeks of the early bird enrolment closing date to all candidates who enrol by the early bird enrolment closing date. If you do not submit your enrolment form by the early bird enrolment closing date, you may not receive your study materials by the commencement of the semester. CPA Program material production orders are placed with our print and distribution providers immediately following the early bird enrolment closing date to ensure that we continue to offer the best value for money to our members. To ensure that your materials are printed and sent to you in a timely manner your delivery address needs to be correct at the time of enrolment and may be updated while your order is still open. CPA Australia cannot make changes to orders that have already entered the despatch stage. The last date to update your delivery address is the early bird enrolment closing date. If you need CPA Australia or its distribution provider to re-direct or reschedule your delivery you will be charged a replacement fee. Please contact CPA Australia if you need to discuss your situation.

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Materials are mailed to candidates who have an Australian address and are couriered ‘door to door’ to destinations outside Australia. In Australia, you may nominate a street address or post office (P.O.) box for receipt of your materials, but for candidates residing overseas a street address is essential as the items must be signed for. Please nominate a street address where possible for delivery of materials. If you live in Russia, please nominate a business address including the business’ AT number. If you have not received your segment study materials by the dates shown in the Important dates please contact: ■ Business Services Group, Deakin University If you have received confirmation of enrolment*. ■ your CPA Australia divisional office If you have not received confirmation of enrolment. * Candidates enrolled in Singapore Taxation should contact the Singapore divisional office for all enquiries about the delivery of study materials for this segment.

Material covering approximately the first two weeks of the semester is made available for most segments via My Online Learning, to assist candidates who experience delays in the delivery of study materials. Replacement study materials can be provided if a package is not received within a reasonable time following the date of despatch.

Study material in accessible formats If you require your study materials to be provided in an alternative format due to a medical condition, please contact your local divisional office. All requests should be submitted as soon as possible following your enrolment and before the early bird enrolment closing date (see Important dates) to allow sufficient time for the special arrangements to be made. Requests must be supported by a medical certificate from a medical practitioner. The certificate must include: ■ the name and description of the condition suffered ■ the special arrangements that are required for your study materials, such as enlargements ■ whether the condition suffered is permanent and if the special arrangements are required for all future enrolments. You may also wish to apply for special exam arrangements and/or special consideration for your exam. See the relevant sections within this guide for further information on how to apply.

Missing or damaged components On receipt of the study materials, you should ensure that the contents match the package checklist in the ‘Dear CPA Program Professional Level Candidate’ letter accompanying the study guide. The checklist also provides instructions for replacing missing or damaged components. All enquiries should be addressed to the Business Services Group, Deakin University*. * Candidates enrolled in Singapore Taxation should contact the Singapore divisional office for all enquiries about missing or damaged study materials.

Replacement materials If you have received your materials but have misplaced them or require replacement materials for another reason, please contact Member Administration. A fee will be payable for replacement materials.

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Withdrawal from CPA Program professional level Withdrawal from the CPA Program professional level involves the deletion of all previous and/or current professional level segment enrolments from your academic record. In addition: ■ An application to withdraw can be granted only after a period of two semesters (one year) has elapsed following your CPA Program professional level commencement date, although enrolment in individual segments may be cancelled during this period (see next section). ■ Withdrawal from the CPA Program professional level does not affect your CPA Australia membership status. ■ Following withdrawal, you may recommence the CPA Program professional level; however, this will be considered a ‘new Program’ and your first enrolment date will determine the structure and regulations that you will be required to follow. Please refer to the rules and regulations on the website for further information and the relevant time frames. It is important to note that your original advancement deadline is not affected, and you will be required to complete all relevant subjects before that time. To completely withdraw from the CPA Program professional level and delete all record of your enrolment contact your local divisional office.

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Exams

Exam dates Scheduled exam dates are listed on the CPA Australia website and enrolment form prior to the start of the enrolment period each semester. They are also listed in the Important dates. Alternative exam dates and supplementary exams are not available. This is due to the secure nature of the exam process and the large number of exams that are conducted throughout the world each semester. If the advertised dates are unsuitable: ■ You may delay your enrolment to a future semester. ■ If your personal circumstances alter following enrolment in a segment due to a medical condition, heavy workload, ‘clash’ with another exam, or misreading the exam information supplied, you may be eligible to defer your exam or cancel your enrolment in the segment. ■ If you miss the exam due to circumstances beyond your control you should contact your local CPA Australia divisional office. You cannot sit a segment exam and then apply for a segment cancellation or deferral in the same semester. If you sit the exam, the result stands and no cancellation or deferral is allowed. If you sit the exam and your exam sit or your exam preparation was adversely affected by exceptional circumstances beyond your control you are able to apply for special consideration up to the close date in each semester.

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Exam locations Location Code

Location Code

Location Code

Australia ACT Canberra CANA

TAS Burnie BURT Hobart HOBT Launceston LAUT

Bangladesh New Zealand Dhaka DAKO Auckland AUCO Brunei BRUO Christchurch CHRO Hamilton HAMO Canada Wellington WELO Calgary CAGO Toronto TORO Papua New Guinea Vancouver VCVO Lae LAEO Port Moresby PMCO China Philippines Beijing BEJO Chongqing COGO Manila MANO Fujian FUJO Qatar Guangzhou GUAO Doha DOHO Nanjing NAJO Singapore SINO Shanghai SHCO Solomon Islands Shenzhen SHHO Honiara HSIO Sichuan CDSO Wuhan WUHO South Africa Zhejiang HGZO Johannesburg JHNO South Korea Fiji Lautoka LAUO Seoul SEOO Suva SUVO Taiwan Hong Kong HONO Taipei TAPO Thailand India Bangalore BNGO Bangkok BANO Chandigarh CHAO United Arab Emirates Chennai CNNO Abu Dhabi ADUO Mumbai MUMO Dubai DBAO New Delhi NWDO United Kingdom

NSW Albury–Wodonga ALBN Armidale ARMN Bathurst BATN Bega BEGN Broken Hill BKHN Coffs Harbour CHBN Cooma COON Deniliquin DENN Dubbo DUBN Forbes FORN Gosford GOSN Griffith GRIN Inverell INVN Lismore LISN Moree MOEN Muswellbrook MUSN Narooma NRMN Newcastle NEWN Port Macquarie PTMN Sydney SYDN Sydney     (Western area) SWEN Tamworth TAMN Wagga Wagga WAGN Wollongong WOLN Young YOUN NT Alice Springs ALIY Darwin DARY QLD Brisbane BRIQ Bundaberg BUNQ Cairns CAIQ Cannonvale CNNQ Emerald EMEQ Gladstone GLDQ Gold Coast GLCQ Mackay MCKQ Maryborough MARQ Moranbah MORQ Mount Isa MIMQ Murgon MURQ Rockhampton ROCQ Roma ROMQ Stanthorpe STPQ Sunshine Coast SUNQ Toowoomba TOOQ Townsville TOWQ Weipa WEIQ SA Adelaide ADES Berri BERS Mount Gambier MTGS Naracoorte NARS Port Lincoln PLIS Port Pirie PIRS Whyalla WHYS

VIC Alexandra ALEV Ararat ARAV Bairnsdale BSDV Ballarat BALV Bendigo BENV Croydon CROV Frankston FRAV Geelong GLGV Gippsland GIPV Hamilton HAMV Horsham HORV Melbourne MELV Melbourne     (Eastern area) MEAV Mildura MILV Shepparton SHPV Swan Hill SWAV Wangaratta WANV Warrnambool WBLV Wonthaggi WONV WA Albany ABNW Broome BOOW Bunbury BNBW Esperance ESPW Geraldton GERW Kalgoorlie KALW Karratha KARW Perth PERW Port Hedland PTHW Other Australia REMO Must be at least 120 km from the above locations. See Special exam arrangements.

Location Code

Indonesia England Bali BLIO Birmingham BIRO Jakarta JAKO London LONO Manchester MCHO Ireland Dublin DBLO Scotland Glasgow GLAO Italy Rome ROMO USA Atlanta ATLO Japan Boston BOSO Tokyo TOKO Honolulu HOLO Macau MACO Houston HOSO Malaysia Los Angeles LOSO Bintulu BINO New York NWYO Ipoh IPHO San Francisco SFRO Johore Bahru JOHO Washington D.C. WASO Kedah KEDO Vanuatu Kelantan KELO Port Vila PVIO Kota Kinabalu KOTO Vietnam Kuala Lumpur KUAO Hanoi HNOO Kuantan KNTO Ho Chi Minh City HOCO Kuching KUCO Melaka MLKO Western Samoa Miri MIRO Apia APIO Penang PENO Other overseas OSEA Sandakan SADO Must be at least 120 km Sibu SIBO from the above locations. Tawau TAWO See Special exam arrangements. Netherlands Amsterdam AMSO

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Changing an exam location If you relocate within the first four weeks of the semester, you are able to change your preferred exam location*.You may change your exam location online via Manage Your CPA Program before the advertised closing date. Closing dates for changing your exam location are shown in the Important dates. If you require support, please contact your divisional office. Changes made by the closing date will be confirmed in the ‘Exam Notification Letter’ (see Confirmation of exam location (including venue), date and time). Changes cannot be made after the closing dates in each semester due to the secure nature of the exams and the complex process required to organise and conduct more than 30 000 exams each semester in over 300 locations worldwide. * Candidates enrolled in Singapore Taxation must attend the exam at the Tax Academy’s exam venue in Singapore. Change of exam location is not available to candidates enrolled in this segment.

Special exam arrangements Special exam arrangements are exam arrangements provided by exception for candidates who have specific exam requirements. These arrangements can be provided for candidates under the following circumstances only. Confirmation of the arrangements will be issued in the ‘Exam Notification Letter’: ■



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Remote area location Exam arrangements will be provided if an established venue does not exist within a 120 kilometre radius of your place of residence. In this case, you should nominate the REMO (Other Australia) or OSEA (Other overseas) exam location code on the enrolment form or, after enrolment, by requesting REMO or OSEA when you change your exam location online before the closing date. Deakin University may contact you to seek assistance in organising an appropriate exam supervisor and venue. All enquiries regarding remote area exam arrangements should be directed to the Business Services Group, Deakin University. Medical condition If you require special exam arrangements due to a medical condition, you should contact your divisional office with your requirements. All requests should be submitted before the special exam arrangements closing date shown in the Important dates.



Requests must be supported by a medical certificate from a medical practitioner. The certificate must include: ■ the name and description of the condition suffered ■ how much extra reading time is required (if any)—a standard exam has 15 minutes ■ how much extra writing time is required (if any)—a standard exam has three hours ■ how much rest time is needed for the duration of the exam (if any)—a standard exam does not have any periods of rest ■ if any special exam materials are required (e.g. A3 enlarged exam paper and/or multiple-choice answer sheet) ■ if any special equipment is needed (e.g. a laptop) ■ if any special seating arrangements are needed (e.g. a separate room or to be seated near a toilet) ■ whether the condition suffered is permanent and if the special exam arrangements are required for any future exams.



Note: If you require food or drink during an exam, you should discuss your requirements with the Business Services Group, Deakin University.

If you apply for special exam arrangements for a medical condition, you are not automatically granted special consideration for your exam. The special exam arrangements will take into account the impact of the medical condition on exam performance. However, you must apply for special consideration each semester if this condition has impacted your studies leading up to the exam or your exam performance, or if any of the other reasons for special consideration have impacted your studies or exam sit.

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Confirmation of exam location (including venue), date and time Your exam location (including venue), date and time will be confirmed via the ‘Exam Notification Letter’ which will be mailed to you by the advertised date in each semester. See Important dates. Enclosed with the letter is an ‘Exam Regulations and Instructions’ document which explains the exam rules, requirements and mark allocations for the exam to prepare you for your exam sit. If this information is not received by the appropriate date, please contact the Business Services Group, Deakin University. Please note, in rare circumstances exam arrangements may need to be altered therefore it is vital that you check your ‘Exam Notification Letter’ for confirmed details of your exam. Wherever possible, your exam will be held at the advertised date and time, and at the exam location you have requested, but if the exam venue is not available at the location or no longer meets the required quality standard a change may be necessary and will be advised via the ‘Exam Notification Letter’. Please ensure your contact details are current and that you carefully review all communication from CPA Australia and Deakin University so that you are aware of the latest arrangements for your exam. Should you have any concerns regarding the exam information provided, please contact the Business Services Group, Deakin University. Candidates who receive written confirmation of an exam deferral or cancellation of enrolment should disregard the relevant exam details included in the Exam Notification Letter.

Exam structure Each segment exam is of three hours’ duration plus 15 minutes’ reading time. Most exams are open book* and are based on the whole segment—that is, the segment study guide, supplementary materials, prescribed texts and readings. Candidates will be examined on all materials unless otherwise stated. The exams consist of objective questions, using multiple-choice questions and questions which require written answers. For more information about the structure of the exams you should review the segment outlines in the study guides and the ‘Regulations and Instructions’ document which is enclosed with the ‘Exam Notification Letter’ and mailed to you prior to the exam. Time allocations are suggested on the exam paper based on the marks assigned to each section. We also recommend that you read the ‘Structure and Requirements’ section of the CPA Australia website.

Past exam papers Questions and answers from current and past exams are not released or made available for viewing after the exams due to the secure nature of the exams and the process adopted by CPA Australia in establishing passing standards (see Setting pass marks). Frequent changes in the content of the segment study guides and changes to legislation and accounting standards can also mean that past papers may not be appropriate guides to current exams. Electronic self-assessment tests (e-SATS)—practice questions and answers—are available on My Online Learning for most segments. These questions provide an opportunity to review the segment content, and are of a similar format, presentation and style to the types of questions that are posed in the exams. You should not rely solely on the self-assessment test questions as a form of exam preparation. These questions are not of the same level of difficulty as the exam questions. A range of effective study strategies, including the self-assessment questions, will provide a solid foundation for exam preparation and revision.

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Attending exams It is your responsibility to read and understand the following regulations and instructions prior to attending the exam. Please also ensure you carefully read the ‘Exam Regulations and Instructions’ document that is mailed to you with your ‘Exam Notification Letter’—these will contain the most up-to-date information. Most exams are open book. The Singapore Taxation exam is closed book. Candidates may only take into that exam the ‘Singapore Income Tax Act’ and ‘Singapore GST Act’ with no annotations, highlights or tags. Open book means that you may take into the exam any reference materials that you believe to be relevant and which may assist you in the exam, such as the study guide, readings and prepared notes. You are also permitted to bring printed dictionaries and printed translation guides. No spare exam reference materials or equipment are available for you to borrow or use in the exam. Please ensure that you take all relevant items to your exam. ■



Required and reference items You are required to bring the following items to the exams: ■ An official form of photographic identification (see the ‘Proof of identity’ section below). ■ Your ‘Exam Notification Letter.’ ■ 2B pencils, a pencil sharpener and an eraser for completing the multiple choice answer sheet for applicable exams (all exams except Malaysia Taxation and Singapore Taxation). Replacements are not supplied. ■ Blue or black ballpoint or ink pens for completing the written response sections of applicable exams (Ethics and Governance, Financial Reporting, Global Strategy and Leadership, Malaysia Taxation, Singapore Taxation, Strategic Management Accounting and Practice Management). Replacements are not supplied. ■ A silent electronic calculating device whose primary purpose is as a calculator. Note: 1 Electronic devices, including mobile telephones, smart phones such as the iPhone, pagers, electronic tablets such as the iPad, laptop computers, electronic dictionaries, personal communication devices such as, and similar to, a Palm® device, electronic scanners and headphones, are not permitted. Also refer to the section ‘Calculators and electronic devices’ for further information.

iPhone and iPad are trademarks of Apple Inc., registered in the US and other countries.

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Candidates are not permitted to borrow another candidate’s calculator during the exams. Also refer to the section ‘Calculators and electronic devices’ for further information. Ear plugs are not permitted unless a special exam arrangement has been made. Please see Special exam arrangements.

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Calculators and electronic devices You will not be provided with a calculator for any CPA Program professional level exams. It is your responsibility to obtain a calculator that meets the requirements and rules of the exam. Candidates enrolled in some segments may find a financial calculator useful for calculations such as time value of money, present and future value, amounts of annuities, net present value and internal rate of return. It is your responsibility to know how to use these functions on your calculator. A standard calculator may be sufficient for certain exams and a calculator with large keys may be easier to use under exam conditions. Exams require candidates to be proficient not only in performing calculations, but also in interpreting the results.



You are not permitted to have any electronic devices in the exam room apart from a calculator. All calculators must operate silently. Other devices which are not primarily calculators but which have a calculator function are not permitted, including watches, mobile phones or smart phones with a calculator function, iPad or similar electronic tablets, Palm® handhelds, laptop computers, electronic organisers and diaries, and personal communication devices. The use of these types of calculators in the exam is expressly forbidden.



Please ensure that your notes prepared for the exam are in a paper-based format. Supervisors will continuously check to ensure that candidates do not copy exam questions onto paper or into text-storage calculators or other electronic devices.

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Food and drink Food and drink items that produce distracting odours or wrapper or container noise are not permitted in the exam room. If you have specific medical needs regarding consumption of food or drink during an exam, you should discuss your requirements with the Business Services Group at Deakin University. Please also see the Special exam arrangements section. Entrance to and departure from the exam room You are advised to arrive at the exam venue no less than 15 minutes before the commencement of reading time in order to be seated. Candidates may not enter the exam room more than 30 minutes after the commencement of reading time, nor are they permitted to leave during the first 60 minutes after the commencement of reading time or during the last 10 minutes of the exam. Candidates must not enter the exam room until advised to do so by the exam supervisor. Upon arrival at your seat, place an official proof of identity and your ‘Exam Notification Letter’ at the top of your desk. Reading time Fifteen minutes of reading time is allocated before the commencement of the exam. When the exam supervisor instructs candidates to commence reading, familiarise yourself with the structure and question weighting of the exam paper, and identify relevant reference material. During reading time, you are not permitted to mark the exam paper or multiple choice answer sheet or any other materials in any way, including writing on, folding or tagging (with Post-it® notes or similar). The use of calculators is also not permitted either before or during reading time. Writing time When the exam supervisor instructs you to commence writing, you are required to do the following: ■ Write your personal details on the front cover of the exam question booklet and multiple choice answer sheet. ■ Sign the ‘Exam Security Declaration’ on the front cover of the exam question booklet that states you will not divulge the nature and content of any question or answer to any individual or entity, nor transcribe or copy in any manner any exam questions or remove any official exam materials from the exam room. ■ For the multiple choice questions, mark answers in 2B pencil on the multiple choice answer sheet during writing time, before the instruction to cease writing is given. Multiple choice answers recorded in your question book will not be marked. ■ For the written response questions, use blue or black ballpoint or ink pens to write your answers in the space allocated within the question booklet during writing time, before the instruction to cease writing is given. You are not permitted to insert or attach to the exam question booklet any other sheets of paper with answers written on them. ■ Answers written on attached or inserted pages will not be marked. ■ All rough workings should be completed in the exam booklet itself. Conclusion of the exam At the conclusion of the exam, you must stop writing and clear all reference materials from your desk. Leave only your exam question booklet and multiple choice answer sheet on the desk for collection. You may depart only when all official exam materials have been collected and checked by the exam supervisor, and only in accordance with instructions given by the supervisor.

Note: Additional time will not be provided to complete the covers of the exam question booklet, the multiple choice answer sheet or to transfer answers written on other pages. Multiple choice answers recorded in your question book will not be marked. ■



Breach of exam regulations You should be aware of the following: ■ Results may be withheld if satisfactory proof of identity is not provided. ■ Incorrect completion of the multiple choice answer sheet may lead to failure in the exam. Multiple choice answers recorded in your question booklet will not be marked. ■ Failure to return the exam question booklet and/or multiple choice answer sheet will lead to automatic failure in the exam. ■ Possession and/or use of unauthorised materials may lead to disciplinary proceedings against you.

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Disciplinary proceedings may be undertaken if you attempt to communicate with another candidate or view another candidate’s exam paper or multiple choice answer sheet during an exam, or if you copy exam questions and/or answers. Should you be suspected of breaching the exam regulations, you may be requested to appear before the Disciplinary Committee. If the accusations are sustained, you may be fined and/or have CPA Australia membership suspended or cancelled. The result of the exam concerned may also be recorded as a Fail.

Non-disclosure of exams CPA Australia owns the rights to the intellectual property, copyright and trademarks used in providing the exam. The exam is made available to candidates only for the purpose of assessment. Candidates are prohibited from divulging, publishing, transcribing, reproducing or transmitting the exam and/or the exam items in any form or by any medium to any individual or entity.



The exam questions and answers are not released or made available for viewing after the exam has been sat due to the secure nature of the exams and the process adopted by CPA Australia in establishing passing standards. Candidates are prohibited from removing any CPA Australia exam materials from the exam room. Failure to comply with CPA Australia’s policy about non-disclosure of exams can lead to the invalidation of exam results and further penalties.

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Inability to attend an exam An alternative exam date is not available. If you are not able to attend a scheduled exam, you may be eligible to apply for an exam deferral up to the advertised closing date. Alternatively, you may apply for an enrolment cancellation up to the advertised closing date. If you do not attend an exam at the scheduled time and date, and you have not been granted an exam deferral or enrolment cancellation, you will incur an exam result of Did Not Sit. If you wish to continue with the program, you are required to re-enrol and pay the full enrolment fee in a later semester. If you are unable to attend the exam due to exceptional circumstances, you should contact your divisional office.



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Special consideration for a disadvantage experienced during the semester or during an exam If you sit the exam you may be eligible to apply for special consideration for your exam result if your exam preparation and/or performance has been adversely affected by exceptional circumstances beyond your control, such as a medical condition or personal hardship. It is your responsibility to submit documentation directly to CPA Australia by the relevant closing date. Applications will not be accepted at the exam.

Proof of identity You are required to present current approved photographic identification at the exam. Approved identification includes: any passport, Australian driver’s licence, Keypass (Australia only), Hong Kong Permanent Identity Card, Malaysia Identity Card, PRC Identity Card, Singapore Identity Card, or Vietnam Identity Card. The name on the photographic identification must match the name on your ‘Exam Notification Letter’. Australian residents who do not hold a driver’s licence or passport can obtain a Keypass, which is a credit-card sized photo identification card for adults. Please note, the Keypass identification card is not a free service to CPA Australia members. Note: If you do not possess any of the approved proof of identity documents listed above, you must bring to each exam an official statutory declaration that states this and confirms your identity. At the exam you will then be required to complete the Deakin University–CPA Australia candidate identity declaration form during exam writing time. For Australian residents, information on statutory declarations is available from the Attorney General department in each State and Territory.

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You will be required to complete a Deakin University–CPA Australia candidate identity declaration form during your exam in the following circumstances: ■ You do not present any of the approved proof of identity documents (listed above) at the exam. ■ Your name, or the spelling of your name, on your approved proof of identity document does not match records held by the exam administrators. Please contact CPA Australia by 12 March 2013 (for Semester 1 2013) or 2 September 2013 (for Semester 2 2013) to advise of any change of name or to correct any spelling anomalies. This will help to ensure that exam administrators’ records are up to date. ■ You do not know your candidate ID number (as recorded on your ‘Exam Notification Letter’). ■ The exam supervisor identifies some other anomaly in attempting to establish proof of identity. If you are required to complete the Deakin University–CPA Australia candidate identity declaration form, you must complete the form during exam writing time. To minimise disruption to your exam, please assist the exam supervisors to complete this procedure promptly.

Exam deferral An exam deferral allows you to postpone the exam for a professional level segment to the following semester. Deferrals into a later semester are not available. Once granted: ■ a result of Deferred will be recorded on your printed results transcript against the semester of enrolment ■ you will be automatically re-enrolled in the equivalent exam in the following semester. The exam deferral provision is available to assist candidates who may be unable to prepare for or attend an exam due to reasons such as a medical condition or personal hardship. If you experience such difficulties and can still attend the exam in the semester of enrolment, you may wish to sit the exam and apply for special consideration. You cannot sit a segment exam and then apply for a segment deferral in the same semester. If you sit the exam, the result stands and no deferral is allowed. If you sit the exam and your exam sit or your exam preparation was adversely affected by exceptional circumstances beyond your control you are able to apply for special consideration up to the closing date in each semester. If you are not able to attend the exam in the following semester, you may defer the exam a second time in the following semester, or cancel your enrolment in the segment.

Number of exam deferrals allowed Only two exam deferrals will be granted per professional level segment enrolment in consecutive semesters. A third deferral in a consecutive semester will not be provided unless exceptional circumstances have adversely affected you. In order to consider an application for a third deferral in a consecutive semester, the application must be supported with relevant documentation. Supporting documentation is to be in the form of a medical certificate and/or a letter, from someone not related to you by birth or marriage, that explains your personal hardship. Note: The majority of candidates undertake the CPA Program professional level in conjunction with full-time employment commitments. Therefore, ‘pressures of work’ are not considered exceptional and, in light of this, applications for a third deferral that are submitted for employment-related reasons will not be granted.

Updates to segment study materials Once an exam has been deferred, you need to retain your segment study materials. Any updated materials will automatically be sent to you the following semester. Your access to My Online Learning will also be transferred to the following semester.

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Cancellation of workshop and webinar registration upon deferral of exam Please note that registrations for workshops and webinars are not automatically cancelled if you defer your enrolment in a segment. To cancel any of your workshops or webinars please contact CPA Australia on 1300 73 73 73 or email [email protected].

Deferral fees There is a fee for exam deferral. Please check the website for important dates and fees. The deferral fee includes automatic re-enrolment in the segment and exam for the following semester and any updated materials. Other important information is as follows: ■ candidates cannot defer into alternative segment exams ■ exams cannot be deferred beyond the following semester ■ a semester in which a deferral is granted is included in a candidate’s time frame to complete the CPA Program professional level ■ if an exam deferral is requested in the final semester of the enrolment period, an Extension of time rollover should be discussed and applied for by contacting your local divisional office. For candidates admitted from 1 July 2007 onwards, a letter of appeal should be submitted ■ once an exam has been deferred, no refund of the deferral fee will be provided if enrolment in the exam is reinstated ■ if enrolment in a segment is subsequently cancelled, fees will not be reimbursed.

Applying for an exam deferral You can defer online via Manage Your CPA Program and receive automatic confirmation of your request. To apply offline, please: ■ complete the Professional level exam deferral application form electronically or by hand, available on the CPA Australia website ■ sign the printed form ■ send the form with the deferral fee to Member Administration. All applications must be received by the relevant closing date shown in the Important dates. If you are prevented from attending your exam due to exceptional circumstances that arise after the deferral closing date, please contact your divisional office. You will be asked to provide documentation to support your request, and your circumstances will be considered on a case by case basis. An exam result of Did Not Sit will be recorded if you do not attend the exam and your exceptional application for deferral is denied.

Special consideration for exams If you sit an exam, you may apply for special consideration for your exam result if your studies during the semester and/or your exam performance are adversely affected by exceptional circumstances beyond your control. Valid reasons for special consideration applications are: ■ medical condition ■ personal hardship which is identified as a situation or circumstance that has had a significant impact on exam preparation and/or performance and is out of your control. Where you can control the situation it is not considered hardship. Hardship can include family issues, personal issues or financial issues. Workload is not considered a reason for hardship ■ late receipt of segment study materials if you enrolled by the early bird closing date ■ exam incident.

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The majority of candidates undertake the CPA Program professional level in conjunction with full-time employment commitments. Therefore, ‘pressures of work’ are not considered exceptional and, in light of this, applications for special consideration that are submitted for employment-related reasons will not be accepted and will not be reviewed by the Special Consideration Committee. You should not apply for special consideration if you are unable to attend an exam. In this case, you can either: ■ cancel your enrolment in the segment, up to the advertised closing date, or ■ apply for an exam deferral up to the advertised closing date (or contact your divisional office if exceptional circumstances arise after the closing date that prevent you from attending the exam). Special consideration applications are closely reviewed to ensure that all criteria and requirements have been met before they are accepted for consideration by the Committee. Following the special consideration application closing date and before the exam results are officially released, the Special Consideration Committee reviews the personal circumstances of each candidate whose application has been accepted and whose exam result has fallen within a specific range below the pass mark. The candidate’s performance is evaluated in light of the disadvantage suffered and similar cases are taken into consideration in order to ensure equity to all candidates. In considering an application for special consideration, the Committee may take into account a candidate’s past performance in the CPA Program and any past applications for special consideration. Following this review process, the Committee may upgrade a Fail result to a Pass. Pass results are not amended to higher grades and the Special Consideration Committee does not review applications that have been accepted where the candidate’s exam result is a clear Fail. The findings of the Special Consideration Committee are confidential and disclosure of decisions made by the Committee cannot be provided. All special consideration applicants’ final results will be announced as part of the official release of exam results.

Applying for special consideration It is your responsibility to provide sufficient detailed information to support an application for special consideration, including information detailing the impact on your studies and/or exam performance. All applications need to be supported with relevant documentation from an independent person. If supporting documentation is not received by CPA Australia by the application closing date, the application will not be processed. You must detail the reason for your special consideration application and the extent to which your studies and/or performance in the exam were affected on the form provided. When applying for special consideration, you must fully explain your situation and how it has impacted on your studies leading up to the exam and/or your performance in the exam to enable the Committee to fairly assess your situation and arrive at a decision. Where relevant, it is advisable to provide as much independent information as possible that supports your case. It is expected that all documentation supplied will be in English. Where documents are translated into English, the translated documents must be certified. To apply for special consideration: ■ please ensure you intend to sit or have sat the exam and meet the criteria for special consideration ■ complete the Special consideration for professional level exams application form, available on the CPA Australia website, electronically or by hand (please do not use the deferral form) ■ sign the printed form ■ send the form to Member Administration with all supporting documentation. All applications will be treated confidentially and must be received by the advertised closing date shown in the Important dates. No application received after the closing date will be considered. All applications received by the application closing date will be acknowledged in writing before the official release of results.

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Reasons for special consideration and the required application documentation are as follows: 1 the completed Special consideration for professional level exams application form, available on the CPA Australia website and 2 supporting documentation as detailed in the following table. Category

Application documentation required

Medical condition

A medical certificate must be submitted to support an application for a medical condition. It is preferred that the medical practitioner use the Medical certificate to support special consideration for exams application form, available on the CPA Australia website. This form needs to be taken to an appointment and completed by the medical practitioner at the time of consultation. If this is not possible, a medical certificate in other formats from a medical practitioner will be accepted if it contains: ■ information detailing the condition ■ an indication of whether the condition is mild, moderate or severe ■ the dates that you have been or will be affected ■ information about how the condition has, or would, affect your studies or exam performance. ‘Illness’, ‘medical condition’ or ‘not fit for work’ are not sufficient explanations and may be difficult to fully assess by the Special Consideration Committee. You must also supply additional documentation that will support your application, such as a statement detailing how the medical condition has impacted on your studies and/or exam performance.

Personal hardship

Personal hardship can include family issues, personal issues or financial issues. Examples include, but are not limited to: ■ relationship breakdown ■ divorce ■ death in the family ■ forced home moves ■ redundancy ■ attending court cases during the exam period. Workload is not a reason for hardship. You must establish in your documentation that it is a circumstance or situation that is out of your control. You must supply a letter of personal hardship from someone not related to you by birth or marriage, including de facto relationship, or a letter from the doctor of your ill relative that contains: ■ a detailed explanation of your personal hardship and the way in which it has, or would, affect your studies or exam performance ■ relevant dates of the impact of the hardship ■ information about how the author of the letter knows you (e.g. manager, work colleague or friend) and how long they have known you ■ contact details for the author of the letter. You must also supply additional documentation that will support your application, such as a statement of personal hardship detailing the impact on your studies and/or exam performance.

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Application documentation required

Late receipt of segment study materials

A consignment note or written advice documenting: ■ the date the materials were received ■ the name(s) of the person(s) you contacted regarding the delay ■ the date(s) of contact.

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You must also supply additional documentation that will support your application, such as a statement detailing how the late receipt of segment study materials has impacted on your studies and/or exam performance. Note: ■ If you enrolled after the early bird enrolment closing date, an application made on this basis may not be approved. ■ Material covering approximately the first two weeks of the semester is made available for most segments via My Online Learning. Where available, this will be taken into account when considering any applications for special consideration based on late receipt of study materials. Exam incident

If a disruptive incident occurs during an exam, you must supply documentation such as a statement describing the incident in detail and the effect it had on your exam performance. Following receipt of an application, CPA Australia may seek verification of the exam incident from the exam supervisor.

Exam results Marking process All candidates’ multiple choice exam answer sheets are electronically scanned by two independent systems. In addition, the written response sections of the compulsory segment exams are marked by a minimum of two independent expert markers. For the compulsory segments, both the multiple choice and written response marks are combined to give a total mark for the exam. Answers to multiple choice questions that have been noted in the question booklet or on working papers, but not recorded on the multiple choice answer sheet, are not assessed. Comprehensive audit procedures ensure that all answers that have been recorded on the multiple choice answer sheets and all answers to written response questions that have been written in the space allocated within the question booklets are assessed. In relation to the written response exams, a detailed marking grid is completed for each candidate response. At least two to four markers are involved in the assessment of each paper. Approximately 25 per cent of papers are re-marked by different markers from those used in the original marking to ensure consistency and fairness. If any inconsistency is detected on a multiple choice answer sheet, the relevant answer sheet is marked a third time by hand in order to confirm the result before it is released. Once all exam papers have been marked, approved special consideration applications are reviewed where exam results have fallen within a specific range below the pass mark. Subsequent to this, all candidates’ exam results are finalised and appropriate exam grades are awarded. The care taken throughout this process of assessment ensures the integrity of every exam result. Therefore, individual exam papers will not be re-examined or re-marked after the final exam results have been published. The secure nature of CPA Australia exams means that exam papers will not be released after the exams have been sat and CPA Australia securely destroys all exam papers approximately eight weeks after the release of final results.

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Release dates and access Before the final exam results are announced, you will receive a letter advising you how to access your exam result. There are two options: ■ Access your results online. The letter will contain a Result ID, a personal identification number (PIN) and an internet address for accessing your results online. ■ Receive your result by SMS (short message service). You will need to pre-register for this service. Please read the letter carefully and follow the instructions provided. You will need to pre-register each semester to receive your results by SMS. If you have not received a letter notifying you of these arrangements by the date shown in the Important dates, you should contact the Business Services Group, Deakin University. Exam results will be released on the dates listed in the Important dates. You will receive an official CPA Australia printed results transcript after results are released. If you do not receive a printed results transcript within two weeks of the advertised mailing date, you should contact your divisional office.

Grades Official exam results indicate the grade awarded. The pass grades that are currently in use for professional level exams include Pass, Credit, Distinction and High Distinction. Other grades in use include Fail, Did Not Sit, Withdrawn, Deferred or Exemption. Printed result transcripts include all results listed on your academic record and cannot be produced to exclude Fail, Did Not Sit, Withdrawn and Deferred grades. In accordance with the policy of CPA Australia’s Professional Qualifications Advisory Committee (formerly the Education Advisory Committee), neither the segment pass marks nor the mark range for each grade are disclosed.

Setting pass marks All members of CPA Australia are required to attain a predetermined level of technical competence before Certified Practising Accountant (CPA) status can be awarded. The study material for each CPA Program professional level segment is designed to provide Associate members with an opportunity to develop appropriate knowledge and skills in the major areas of accounting. Each pass mark for the compulsory and elective segment exams is based on a determination of the minimum level of knowledge and skills that candidates must acquire to become competent practitioners in the field. The mark required to pass (or the proficiency level which must be achieved) is set by what is known as the proficiency workshop approach, also known as the ‘modified Angoff’ approach to determining pass marks. For each CPA Program professional level segment, a panel of members with experience in the field is appointed. The panel members meet to review the segment materials and identify the specific knowledge and skills that a CPA would require in the workplace. The panel works through each question on the exam paper and compares these with the knowledge and skills required. The panel members then individually rate each question, which involves estimating the level of difficulty for a competent candidate. This approach provides rating information for each question on each paper, thus enabling a pass mark (proficiency level) to be established that is based on specific competencies. This is a very intensive process. Panel members must be familiar with the CPA Program professional level materials and have a comprehensive understanding of the skills required by a CPA. The panel members must also be prepared to attend a number of half‑day workshops. To ensure that pass marks are comparable between semesters, group performance between semesters is statistically equated. This involves a comparison of candidate performance on common questions (i.e. those questions which appear on exam papers in sequential semesters) and candidate performance on unique questions (i.e. those questions that are specific to a particular exam paper).

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Each segment pass mark is generally set between 60 and 65 per cent. The proficiency level must be achieved in a single exam sitting and cannot be spread over more than one enrolment in any given segment. As described above, the proficiency levels expected of candidates are determined by panels of subject matter experts each semester. These proficiency levels are validated through statistical analysis and equating of results to ensure candidates are fairly graded from one semester to another. The required pass mark for each segment is confirmed by the Exam Policy Advisory Committee, which is made up of senior CPA Australia members. CPA Australia does not fail a predetermined percentage of candidates.

Fail results and queries All candidates who sit an exam will have online access to a detailed ‘Personal Analysis Letter’ (PAL). The exams are designed to test your understanding of the materials, and the PAL reviews your exam results by module. This may assist you in knowing where to focus your studies if you attempt any segment again. Information on how to access the PAL is included in the letter advising you how to access your exam results. Please keep this letter after accessing your exam result so that you can access your PAL. If you have failed an exam and have specific questions about the information in your PAL, please contact your divisional office or email your questions to: [email protected]. The email request must include: ■ your full name ■ member ID ■ contact details ■ segment name, semester and year ■ a clear list of queries. Please note that all results are final and requests for re-marks will not be accepted. As noted in the Marking process section, it is CPA Australia’s policy not to re-mark exams or provide access to the exams.

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CPA Program professional level— practical experience requirement

The practical experience requirement is a structured program for developing and demonstrating professional skills. An integrated part of the CPA Program, it is a requirement for advancing to CPA status. The practical experience requirement complies with the International Federation of Accountants’ (IFAC) International Educational Standards. As part of your practical experience requirement, you will need to demonstrate competence in four skill areas highly valued by employers.

Personal Career Technical Effectiveness Guidance Business Leadership System

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There are three ways to demonstrates practical experience. Choose the method that best suits you and remember that you can change the way you demonstrate your requirements if your work circumstances change.

Do you have six months or more professional work experience?

You can apply for Recognition of Professional Experience to satisfy all, or part, of the practical experience requirement depending on your work experience. Your work experience needs to be in a relevant role and from the last eight years. Full members of an IFAC member body can also apply.

Do you work for a Recognised Employer Partner?

You can enrol with a Recognised Employer Partner and you will satisfy the practical experience requirements while taking part in your employer’s professional development program. A full list of Recognised Employer Partners is available at cpaaustralia.com.au/ rep_employer_partners

Are you currently employed in a relevant role?

You can enrol any time, but there are many advantages to enrolling as soon as possible. The combination of skills and time spent in a mentored relationship will help you realise your potential as a leader in your profession.

Next steps

Next steps

Next steps

1.

Follow the instructions on the form at cpaaustralia.com.au/ practicalexperience

1.

Follow the instructions on the form at cpaaustralia.com.au/ practicalexperience

1.

Find a CPA, FCPA or equivalent full member of an IFAC member body to be your mentor.

2.

If you have any remaining time or skill requirements left to complete we recommend that you enrol in the practical experience requirement.

2.

Participate in the professional development program provided by your employer.

2.

Follow the instructions on the form at cpaaustralia.com.au/ practicalexperience

3.

Inform CPA Australia if you change employers or if you complete your time requirement by submitting an Update/Complete form.

3. cpaaustralia.com.au/ practicallogbook 4.

Refer to page 11 to find out how to record your demonstrated skills.

5.

Inform CPA Australia if you change employers, mentors or if you complete the requirements by submitting the Update/Complete form.