The Chartered Professional Accountants' Education Foundation of Newfoundland and Labrador Inc. (CPAEFNL) was formed by CPA Newfoundland and Labrador (CPA NL) to support professional excellence in accounting and education.

Click here to download a member update, created by the CPAEFNL Board of Directors, which has detailed information about the CPAEFNL, its funding model, and scholarships.

Through the support of Chartered Professional Accountant's in Newfoundland and Labrador the Chartered Professional Accountants' Education Foundation of Newfoundland and Labrador (CPAEFNL) has a mandate to promote professional excellence in accounting education by supporting the development of academia and providing support to students in their pursuit of the designation.

The CPA Education Foundation entered into two agreements with Memorial University of Newfoundland on May 1, 2019, one with the Faculty of Business Administration and the other with Grenfell Campus, which provides funding of $250,000 over a five-year period. This contribution will facilitate competency-based accounting education by providing faculty with professional resources and support, as well as funding of student activities and scholarships.

The CPAEFNL Board of Directors has established opportunities that are available to students in Newfoundland and Labrador to help them succeed in their goal of becoming a Chartered Professional Accountant:

 

 

Entrance to Post-Secondary Degree Program - Scholarship

The Entrance to Post-Secondary Degree Scholarship is about giving back to the families of CPA’s and helping ease the burden in that first year. To be eligible for this scholarship, the applicant must be the child or grandchild of a CPA and resident in Newfoundland and Labrador. Applicants could be high school graduates, college graduates, or mature students, providing they have applied and been accepted into a post-secondary degree program.

A committee of the CPAEFNL Board of Directors will assess applications received based on academic results, extra-curricular activities, volunteer experience and overall demonstration of CPA leadership qualities. Preference will be given to those students planning to enter a business related program and ultimately pursue the CPA designation.

Up to four $2,500 scholarships will be awarded annually. The scholarship will be awarded in two installments, the first upon entrance into a post-secondary degree program, the second at the time of acceptance into a business related program within the post-secondary institution.

The application deadline is September 30 annually. For full scholarship details and the application, please click here.

Back to top...

 

 

Degree Graduation - Scholarships

CPA NL has worked with Memorial University to align a number of scholarships to be awarded annually to business students including students with the highest academic standing entering Term 7 of the B.Comm. (Co-op) program and completing the accounting concentration.

  • CPAEFNL Scholarship - Three $2,500 scholarships that will be awarded annually to an undergraduate student entering their final year in the Faculty of Business Administration who is completing the accounting concentration.
  • CPAEFNL Scholarship in Business - This scholarship fund was originally established by a generous donation from the Public Accountants Licensing Board. Valued at a portion of the income on the endowment, the scholarship will be awarded annually to an undergraduate student entering their final year in the Faculty of Business Administration who is completing the accounting concentration and has demonstrated an interest in pursuing public accountancy as a profession.
  • CPAEFNL Scholarship in Business Administration - Two scholarships valued at $2,500 each will be awarded annually.  One will be awarded to an undergraduate student in the business administration program at the Grenfell Campus of Memorial University of Newfoundland, while the other will be awarded to an undergraduate student in the business administration program within the Faculty of Business Administration, St. John's Campus at Memorial University of Newfoundland.

Back to top...

 

 

CPA Program - Financial Assistance

CPAEFNL recognizes that not all employers cover the costs for students to complete the education program and that not all students have the necessary financial resources.  As a result, it is a significant priority of the CPAEFNL Board to implement a financial assistance program for those CPA Atlantic School of Business (CPA ASB) students resident in Newfoundland and Labrador demonstrating a financial need and continued program success.

The Board has allocated up to $10,000 in funding annually to serve this purpose. The number of students provided aid, installment schedule, and funding provided to each CPA Student will be determined based on the overall need and continued program success.

Applications are accepted and considered throughout the year.  However, please allow adequate time for review and consideration in advance of the date for which funding is required. For full details and the application, please click here.

Back to top...

 

 

Graduates - CFE Distinction Awards

In January 2017 the Education Foundation approved the establishment of a CPA Newfoundland and Labrador Education Foundation Common Final Examination (CFE) distinction awards. The awards will be presented to the top three performers on the CFE. The awards will be presented as CFE Gold, Silver and Bronze awards of distinction.

To be eligible the Candidates must have completed at least one component (Day 1 or Day 2/3) of the CFE during the CFE year being recognized. The awards will go to the three top performers across all days regardless of which year the CFE components were written in, providing at least one component was in the current year.

The recipients of the CPA Newfoundland and Labrador Education Foundation CFE Distinction awards will receive a memento and a monetary reward.

Back to top...

 

 

Graduates - Jazzit Award

Sponsored by Jazzit, the award provides a $1,000 prize in each calendar year to a successful student in Newfoundland and Labrador who demonstrates active community involvement.

Back to top...

 

 

CPAEFNL Board of Directors

Fern Mitchelmore, Chair
Steve Bragg, Vice-Chair
Jonathan Moore, Secretary/Treasurer
Samukele Chitsike
Jason Hillyard
Kealey Martin
Sean McGrath
Stephen McLean
Donna Peet
Laura Wardle

Back to top...

 

 

Funding Model

Chartered Professional Accountant's in Newfoundland and Labrador support the CPAEFNL through a levy that is applied to their annual membership fees ($35.00 per member).  Furthermore, the CPAEFNL holds an annual Golf Tournament and Silent Auction which, with the support of members and sponsors, raises significant funds to support accounting education in the province.

Back to top...

Education Foundation