CPA Canada 2024 Pass Rates: What these Results Mean for CPA Candidates
2024 CFE Pass Rate (Combined May + September)
The 2024 CFE pass rate is 67.3%, making it the lowest CFE pass rate on record.
CFE Pass Rates (First‑Time Writers)
Year Pass Rate 2024 - 67.3%; 2023 - 70.5%; 2022 - 71.3% ; 2021 - 73.6%; 2020 75.8%
What This Means for Candidates
The CFE continues to trend downward by 1–3% each year.
Case‑writing expectations remain high, especially for Day 2 and Day 3.
Strong technical depth and structured writing are more important than ever.
2024 PEP Module Pass Rates
Core Modules
Over the last 4 years, Core 1 pass % - 71.9%, 72.1%, 74.0%, 77.1% and Core 2 - 80.4% 78.4% 82.5% 85.3%
Elective Modules
Over the last 4 years,
Taxation pass % - 86.8%, 87.6%, 87.5%, 88.1%
Assurance 88.1%, 87.6%, 89.7%, 90.5%
Performance Management (PM) 87.1%, 90.2%, 89.5%, 90.9%
Finance 84.8%, 87.1%, 87.2%, 89.1%
Key Takeaways
Core 2 saw a slight improvement in 2024 (80.4%).
Assurance also increased marginally.
PM and Finance dropped by 2–3%, continuing a downward trend.
Core 1 remains stable but lower than pre‑2021 levels.
Why Pass Rates Are Trending Lower
Several factors may be contributing:
Increasing exam complexity
More emphasis on case‑writing and professional judgment
Higher expectations for technical integration
Shifts in candidate preparation styles
For many students — especially internationally trained accountants — the biggest challenge remains adapting to Canadian case‑writing standards.
How Students Can Use This Data to Prepare
Core 1 candidates should focus on foundational FR and time management.
Core 2 candidates should practice MA/Finance integration and quantitative analysis.
Elective writers should prioritize technical depth and case structure.
CFE writers must build strong habits in debriefing, self‑marking, and role‑specific technical mastery.
Pass rates don’t define your outcome - but they do highlight where to focus your effort.
If you need help in your CPA Canada Coaching, please feel free to reach out:
RavGun CPA Academy
https://www.ravguncpaacademy.com/
+1 437 833 9540
