REGULATIONS OF CERTIFIED MANAGEMENT ACCOUNTANTS OF ONTARIO

REGULATIONS OF CERTIFIED MANAGEMENT ACCOUNTANTS OF ONTARIO REGULATIONS RESPECTING CANDIDATES PURSUING THE CMA DESIGNATION TABLE OF CONTENTS Section 200 General Requirements for all CMA Programs 400 Strategic Leadership Program (SLP) 500 Combined CMA Master s Programs 700 Executive Program 1000 Professional Advanced Standing Agreements (PAS) 1100 Mutual Recognition Agreements (MRAs) 1200 Practical Experience

200 General Requirements for all CMA Programs The following regulations are applicable to all students or candidates in the CMA Program. 201 Candidate s Responsibility It is the responsibility of each candidate to be familiar with the information contained in these Regulations and the applicable candidate handbook(s). Exceptions to the Regulations based on ignorance or unfamiliarity with any regulation will not be considered. If a regulation is not clear to you or you are not sure how it may apply, you are advised to contact any of the CMA Ontario accreditation department staff. 202 Rules of Professional Conduct CMA students and candidates are required to abide by the CPA Ontario Rules of Professional Conduct. The manner in which students or candidates conduct their professional activities reflects on CMA Ontario and affects the level of respect accorded the profession. This professional attitude applies to the conduct expected of all students and candidates. Students or candidates who do not abide by the Code of Professional Ethics may not be accepted into certified membership. Any candidate found committing plagiarism, cheating, or other ethical infractions will at minimum be required to successfully complete the CMA Ontario Ethics course at the candidate s expense in order to continue on in the CMA Program. CMA Ontario reserves the right, at CMA Ontario s sole discretion, to defer candidates or discontinue candidates registration with CMA Ontario for these infractions. 203 CMA Program Eligibility DELETED 204 Mature Student Policy DELETED 205 Suitable Professional Demeanour and Team Participation If a candidate is not, in CMA Ontario s sole judgment, maintaining a suitable level of professional demeanour in the program, and/or is deemed not to be meeting the team 2

participation requirements of the program, they may be subject to one or more possible sanctions, including but not limited to loss of evaluation points in interactive sessions or written assignments, specific performance directives on correcting behaviour subject to further sanction, or withdrawal from the program and/or specific program components for a period specified by CMA Ontario. Observation and evaluation of professional demeanour includes, but is not limited to, consideration of personal and professional behaviour in the setting of the interactive sessions and/or other team components of the program, including work within a small- team environment. Without limitation, examples of behaviours not meeting the expectations of professional demeanour and team participation would include offensive or lewd behaviour and/or language, behaviour that disrupts session or team functioning, behaviour that does not demonstrate active participation in the interactive sessions and/or team assignments, and not showing appropriate and reasonable flexibility with fellow team members for scheduling and setting meetings and calls. A candidate not meeting the program s expectations of professional demeanour, ethical behaviour and/or team participation may also be removed from candidate status and deemed ineligible to continue his/her pursuit of the designation. 206 Small Group Dissolution or Expulsion Part of the rigour of the CMA Program is that candidates are expected to work together and comprehend that part of the experience reinforces that in their careers they will work with people of different backgrounds, goals and work styles. In cases of group conflict, therefore, CMA small groups are expected to work together to make reasonable efforts to resolve their issues. If the group itself is unable to resolve any issue, they must involve, as a group, moderators in these discussions prior to requesting transfer to a different group, expulsion of a group member, or group dissolution. In cases where the team and moderators cannot resolve an issue, transfer, expulsion and dissolution decisions are to be at the sole discretion of CMA Ontario. 207 Human Rights Code CMA Ontario is aware of the constructive discrimination provisions of the Human Rights Code. Nothing in CMA Ontario s practical experience requirement, or in its effect upon individuals when applied to them, shall act to deprive individuals of their right to accommodation without undue hardship in accordance with the Ontario Human Rights Code. Human rights complaints can be submitted to the Corporate Secretary & Registrar of CMA Ontario. 3

208 Test Behaviour Students or candidates are expected to act as professionals at all times during tests. Please note the following instructions regarding test writing conduct: - Students are expected to confirm the place and time of scheduled tests. - Students or candidates are expected to come prepared with a pencil, eraser, pen, approved calculator admittance form and identification, to write each test. Candidates may be asked to remove other items at the invigilator s discretion. - Any form of collaboration between parties related to cheating - be it copying from another paper, or allowing copying from a test paper - will result in an automatic mark of zero on the test for both parties. - Students or candidates caught with a cheat sheet or who do not stop writing their tests when requested by the test invigilator will receive a mark of zero on their test. - Unethical behaviour of this nature may be addressed under Section 24 of CMA Ontario s Bylaws: Discipline of Members, Complaints Committee. - Certified Management Accountants of Ontario has provided the invigilators and instructors full authority with respect to test writing conduct. Any violations of said conduct will be reported to CMA Ontario for action. 209 Time Limit Candidates must complete all aspects of the CMA Program within five years of their point of entrance into the program and in any event by August 31 2018 (see Section 203 CMA Program Eligibility for definition of point of entrance). 210 Appeals To proceed with an appeal, candidates are required to submit, in writing, a summary of the decision being appealed, the candidate s appeal case, as well as all supporting documentation pertaining to the decision in question to the Appeal Program Advisor. Appeals will be reviewed and a decision will be returned to the candidate in writing within six weeks. 211 Plagiarism As CMA candidates, group work completed must be unique work performed by each group independently and individual assignments must be unique work performed by each candidate independently. The CMA Program websites use Turnitin plagiarism detection software for all assignments posted by candidates onto the site. Several years of submitted assignments are stored in the database from candidates across Canada. The software also scans the Web for other sources 4

of content. If any notices of plagiarism are reported by the CMA Canada markers or CMA Ontario moderators, either independently or with the assistance of this software, CMA Ontario will be notified for further investigation and will be in contact with the affected candidate s group. Each case is reviewed individually, and may result in the deferral or removal of the candidate(s) from the CMA Program. This policy applies both to the candidate that used someone else s assignment and also the student who knowingly let someone use their assignment. CMA Canada has developed a National Plagiarism Policy Statement and this is set out below in the context of the CMA Program. Guidelines on Plagiarism in the CMA Program Introduction Researching information from published materials and sharing ideas with other candidates are legitimate approaches to learning and both approaches are required in the CMA program. However, all assignments and presentations must reflect original work and responses, with references to other sources correctly cited. The following information and policies about plagiarism have been approved by all the partners of CMA Canada and will be strictly enforced. Definition of Plagiarism Plagiarism consists of presenting (or misrepresenting) any part of another person s work as one s own. In the context of the CMA Program, this applies to all assignments, online discussions, business application reports, oral presentations, and Board Reports. Plagiarism can include phrases, paragraphs, passages or ideas taken from any book, website, article, encyclopedia or other reference material, another candidate s or CMA Program group s paper (past or present), anything found on the Internet, or any group discussions (when preparing an individual assignment), that have not been correctly credited to the source. CMA Canada s Position of Plagiarism CMA Canada and its partners consider any instance of plagiarism, as defined above, to be cheating and a form of intellectual theft. By submitting their work through the CMA Program s websites or presenting it in the context of a program session or formal presentation, candidates consent to their work undergoing plagiarism detection reviews using plagiarism detection software and to their 5

submitted work being retained in a confidential database for comparison with other work submitted by candidates. Penalties Suspected instances of plagiarism will be immediately reported to CMA Canada and/or its partners. The provincial partners will review each case individually and based on the outcome will assess strict penalties and disciplinary measures. Where a candidate has been found to have committed plagiarism or violated the Rules of Professional Conduct, the candidate will be required to attend the CMA Ontario Ethics course at the candidate s expense before continuing in the program. CMA Ontario reserves the right, at CMA Ontario s sole discretion, to defer candidates or discontinue candidates active status with CMA Ontario for these infractions. 212 Membership Application A membership application will be sent to all eligible candidates in June. To be considered for membership, candidates must have successfully completed all requirements for the CMA program path in which they are enrolled in full and includes the practical experience requirement. As well, candidates must have paid all outstanding fees and have submitted the proper documentation by the specified due date. Candidates will require a CMA to sponsor the membership application. The sponsor must be a CMA member in good standing who can attest to the candidate s suitability for consideration for membership. To maintain membership and the right to use the CMA designation, the membership fee must be paid annually and members must comply with Continuing Professional Development (CPD) requirements. 213 DELETED 214 Membership Transfers Membership transfers to another province are subject to the approval of the receiving province. Students or candidates moving from Ontario to another province should submit a written request to CMA Ontario s office including their name, member number and the new address 6

and telephone numbers. They will be advised of their transfer eligibility. 215 Registration Deletions Students or candidates may be deregistered with CMA Ontario for the following reasons without notice. a) Inactivity: Failure to complete all requirements of the CMA designation within five years of eligibility. b) Non-payment: Non-payment of the annual registration fee or any outstanding accounts with CMA Ontario. c) Failure: Three unsuccessful attempts at any single one of the following components of the CMA Program: ƒ CMA Case Examination ƒ CMA Board Report d) Unprofessional Conduct: Failure to abide by the Rules of Professional Conduct. Deregistration is final. Students or candidates whose registrations are deleted will no longer be eligible for the CMA designation. 216 DELETED 217 Appeal Process of Policy and Regulation Administration Students or candidates whose progress may be affected by the policies and regulations established by CMA Ontario can apply to CMA Ontario for consideration of their case. Such appeals may include, but are not exclusive to: Extensions on Strategic Leadership Program assignment due dates Missed interactive sessions Additional time required on CMA tests or examinations Requests should be addressed to the accreditation department and should briefly outline the nature of the request and be accompanied by any supporting documentation. Employmentrelated obligations will not be considered. 218 Fees To maintain active status, candidates are required to submit an annual registration fee upon receipt of their invoice (where applicable). This fee is tax deductible as a tuition fee. The fee is non-refundable. Students or candidates who have not submitted the fee will have their status inactivated without notice. 7

219 Food Allergies CMA Ontario and its catering services will take every necessary precaution to prevent cross contamination regarding food allergies or food sensitivities. However, CMA Ontario assumes no liability should there be an allergic reaction of any kind. 300 DELETED 400 - Strategic Leadership Program (SLP) 401 Strategic Leadership Program Eligibility The Strategic Leadership Program (SLP) is an accreditation requirement which begins after completion of or waiver of the CMA Entrance Examination. The two-year Strategic Leadership Program includes work-related assignments marked nationally, interactive sessions, a Case Examination, a Board Report, plus monitored practical experience. 402 Study Format The Strategic Leadership Program is a two-year program divided into two (2) phases: the Development Phase which consists of three (3) modules of largely independent study and the Application Phase which consists of three (3) modules of largely group work. Over the twoyear period there is an orientation session, six two-day interactive sessions and a final day to present the Board Report. While CMA Ontario recommends beginning the Strategic Leadership Program immediately following the successful completion of the Entrance Examination, candidates may defer starting the program for one year. The orientation session is held in late September or early October for the Fall intake of candidates and in January for the Winter intake of candidates. Attendance at all sessions is mandatory. Upon enrolment, candidates are registered to a group consisting of 25-30 candidates and progress through the two-year program with the same group and two moderators assigned to the group. During the interactive sessions, candidates discuss problems and cases both in small groups (4-6) and in the large group, with presentations to the full group. Candidates are expected to be able to discuss the issues, share their views and insights and provide relevance to the topics through personal experience in their individual organizations. Each of the modules requires approximately 75 hours of preparation. To develop a candidates integrative, analytical and report writing skills, a variety of assignments are incorporated into 8

the program. 403 Assignment Submissions During the individual Development Phase (Year One), there are approximately two assignments per module submitted to a national marking team for marking and feedback. Other assignments during the module consist of online discussions, Business Application Reports (BAR), preparation for and participation during the interactive session as evaluated by the moderators. It is strongly recommended that candidates ensure that their assignments have been successfully posted on the CMA Canada Professional Programs website, as CMA Ontario will assume no responsibility for assignment posting errors. Submission of the assignments and reports is mandatory. Failure to submit an assignment will result in a deferral of candidates studies until the next year. Late reports will be subject to penalties such as having to complete another assignment or assessment reductions. Candidates who submit an assignment substantially after the deadline may be subject to a late marking fee as well as a Below Expectations assessment. Candidates who receive an assessment of Below Expectations on two reports will be required to perform remedial work including re-submitting the assignment to the moderator or possible deferral. Please note only one (1) Word 2007 format file is to be submitted to the website for the report. All exhibits, charts, etc. need to be embedded in the Word document. Candidates who submit two (2) late assignments or reports may be required to defer their studies and restart the program. This deferral is conditional upon their eligibility to defer the program and still remain in compliance with the time limit policy. Candidates who submit an unacceptable report will be required to re-submit the report, which will not be marked. Any decision on deferral is at the sole discretion of CMA Ontario. Candidates experiencing difficulty in submitting a report may request an extension to the due date. Extensions are only granted in unusual circumstances. Normal employment related obligations (e.g., month and year-ends, tax season, special projects) will not be considered. Candidates must submit in writing a request to CMA Ontario Candidate Support Representatives at least 48 hours before a due date to request an extension. If an extension is warranted, supporting documentation may be required. Permission to submit one (1) report or assignment late affects only that report. Reports due before an interactive session must be submitted to be eligible to attend that session. Candidates who are ineligible to attend an interactive session will be contacted by CMA Ontario. The moderators will evaluate the totality of assignments and interactive session participation 9

for each module, and will provide an overall module assessment. If any interactive session is deemed to be Below Expectations, at the discretion of CMA Ontario, candidates will either be deferred for one year (candidates will continue the following year from the beginning of the SLP year in which they were deferred) or will be given the opportunity to complete an additional assignment that will be marked provincially. In addition, candidates will have to achieve a grade of Meets Expectations or Above Expectations to continue in the program. 404 Interactive Session Participation Candidates who do not attend either an entire, complete session or make acceptable alternative arrangements with CMA Ontario to attend another offering will be required to defer their studies. This deferral is conditional upon the eligibility to defer the program and still remain in compliance with the time limit policy. If alternative arrangements are required, candidates should contact CMA Ontario at least three weeks prior to the session. In the Development Phase (Year One), candidates who request to attend a different SLP session than the one in which they are registered will be charged a session transfer fee. Given the small group work required in Year Two of the program, sessions transfer will not be permitted for Interactive Sessions 4, 5 or 6. All session transfers are at the sole discretion of CMA Ontario. 405 Module Assessments Module assessments will be uploaded to the CMA Canada Professional Programs website by the moderators within two weeks of each module s completion once the session survey has been submitted. The module assessment indicates candidates performance on the written assignments as well as the interactive session. 406 Progress Reports Progress reports will be uploaded to the CMA Canada Professional Programs website by the moderators within two weeks of each module s completion. The progress report indicates candidates cumulative performance to date. As the schedule for each year of the program is published well in advance, it is a candidate s responsibility to arrange personal activities around these deadlines. Deferral requests must be made in writing before the enrolment deadline. 407 Fees The total fee for the two-year program includes all study materials, marking of assignments and reports and applicable meals while attending the interactive sessions. The non- 10

refundable fee will be payable in four installments. Invoices will be sent four weeks prior to the installment due date. An administrative fee will be assessed on each installment not received or post-marked by the due date. Audits of failed Case Examinations or Board Reports are not included in the regular fee and these requests will be charged an additional fee. Likewise, rewriting the Case Examination after a failed attempt is also subject to an additional fee. Cheques should be made payable to Certified Management Accountants of Ontario. Candidates who have not submitted the installments by the due dates will not be allowed to attend the next interactive session and may be deleted from membership. 408 Expenses Candidates are responsible for all travel, accommodation, dinner, parking and other personal expenses incurred to participate in interactive sessions or other meetings. 409 Material All readings, reports, and assignments are to be downloaded from the CMA Canada Professional Programs (CPP) website at www.cma-cpp.com. CMA Ontario encourages candidates to evaluate all aspects of the Strategic Leadership Program session content, delivery and moderators. Evaluation sheets for each interactive session are completed electronically on the CPP website at the completion of each module. Each evaluation sheet must be submitted by the Tuesday following the session in order for session grades to appear when they are available. Evaluations are reviewed by CMA Ontario to identify areas requiring improvement. Many issues relating to session format and moderator performance are handled immediately. Moderators receive a summary of the evaluations after each session. 410 DELETED 411 Withdrawals Candidates who withdraw will be advised of the program from which they must continue. All of the modules will have to be repeated as candidates may only enter the program at the commencement of Year One or Year Two. Candidates who withdraw from the Strategic Leadership Program will receive a refund of the Strategic Leadership Program fees only for the portion of the program not completed All refund and withdrawal requests must be made in writing to the attention of the accreditation department, CMA Ontario. Cancellation refunds, if any, are dependant on when candidates withdraw from the Strategic 11

Leadership Program or any related re-write during the specified time frame. Please refer to the Strategic Leadership Candidate Handbook for details on the graduated refund levels. The refund schedule takes into account the committed fixed costs of each Strategic Leadership Program group (such as moderator and facility costs) when deciding to run a particular number of groups. CMA Ontario will honour the date the written request for cancellation or deferral is received by CMA Ontario only. Refunds are issued only when all charges outstanding on candidates account have been paid. The Strategic Leadership Program consists of two elements that all candidates must pass: the CMA Case Examination and the Board Report 412 Case Examination To be eligible to write the Case Examination, candidates must have achieved Meets Expectations or above for each of the three modules in the Development Phase. The Case Examination is a four-hour examination that tests candidates ability to apply the six functional competencies (Strategic Management, Performance Measurement, Performance Management, Financial Resource Management, Risk Management and Governance, and Financial Reporting) and the four enabling competencies (Problem- Solving and Decision- Making, Leadership and Group Dynamics, Professional and Ethical Behaviour, and Communication) by demonstrating integrative thinking and problem solving skills. Fortyeight hours before the Case Examination, candidates will be given a document that provides background on a fictitious company and at the outset of the examination, additional information will be provided that will form the heart of the Case Examination. Candidates must write the Case Examination by laptop and will utilize SecureExam software. Instructions and details regarding this software will be provided in advance. A SecureExam user s guide will be available in the reference section of the CMA Canada Professional Programs website. SecureExam is permitted on PC-based computers only. Please note that any Apple, PowerPC, Macintosh (MAC) laptops are not permitted even if the laptop can run Windows. Candidates must achieve 60% to pass the Case Examination and must pass the Case Examination to move to the second year, or the Application Phase. Unsuccessful candidates will be deferred until the next available sitting of the Case Examination. Strategic Leadership Program candidates that have been unsuccessful in the CMA Case Examination will be required to participate in a mandatory prep session before being permitted to make an additional attempt at the CMA Case Examination. Candidates can take the CMA Case Examination a maximum of three times 12

413 Board Report and Presentation The last requirement of the program is a group Board Report designed to review and integrate the topics in the Strategic Leadership Program. The Board Report is to be 10,000 words, plus exhibits. A period of more than two months will be given to complete the written report. The written report will be graded by CMA Canada. A presentation based on this report will be made to a panel of CMAs. The presentations will be scheduled over several weekends in June and are included on the Year Two Strategic Leadership Program schedule as outlined on the CMA Canada Professional Programs website. As the dates and times for the presentations are not flexible, candidates should not schedule other activities for those days. Candidates will be assigned a group of three to six candidates to work with on the Board Report. This will be the same group as that which candidates have been with throughout the Development Stage of the Strategic Leadership Program. Candidates must obtain a grade in excess of 60% on a combination of the written Board Report and Presentation and is broken down as follows: Written Report Presentation 70 percent 30 percent There will also be peer evaluation to ensure that all candidates made a positive contribution to the Board Report and group work during the year. Candidates who do not make a suitable commitment may be deferred from certification and required to repeat the entire second year of the program and the Board Report the following year. For instance, if a group passes the Board Report but peer feedback and evidence provided by teammates attests that a teammate(s) did not share adequately in the project, that candidate can still be deferred from certification and will be assigned to another team to repeat the Board Report the following year. Although, the Board Report is a group project, all members must do their part to earn the CMA designation. 414 Board Report Failure Candidates who fail the CMA Board Report may be required to repeat elements of the program in the following year. Candidates will be advised which elements must be repeated. Candidates can complete the CMA Board Report a maximum of three times. SLP candidates who have been unsuccessful in the CMA Board Report will be required to participate in a mandatory prep session before being permitted to make an additional attempt at 13

the CMA Board Report. Candidates who do not complete all requirements of the Strategic Leadership Program including practical experience within five years of entering the Strategic Leadership Program will have their status inactivated (see Strategic Leadership Program Candidate Handbook at http://www.cma- ontario.org/multimedia/ontario/attachments/slp%20handbook%202010-2011.pdf). 415 Experience Please click here for details about Practical Experience Requirements. 500 - Combined CMA Master s Programs 501 Eligibility Individuals who, at an earlier time, failed the CMA Entrance Examination will only become eligible to apply for the CMA designation through a master s program after a waiting period of five (5) years. The CMA designation can be obtained concurrently with the awarding of the master s degree, or upon completion of the required CMA evaluations post degree within a three- year period. To be eligible to apply for the CMA designation, candidates must successfully complete a master s program in accordance with the completion requirements set by the university. Candidates must achieve a minimum grade of 60% on each CMA required course. All CMA accredited Combined CMA Master s Program candidates must achieve a minimum grade of 60% on each CMA required course and a 75% overall average on the CMA required courses in order to qualify for the waiver of the CMA Entrance Examination. Please refer to the Combined CMA Master s Program candidate handbook for a list of accredited programs and requirements. CMA for MBA Program CMA for MBA candidates must be eligible for the Strategic Leadership Program (SLP). This may require candidates to complete the CMA Accelerated Program and the CMA Entrance Examination prior to enrolment in the CMA for MBA program. Please contact CMA Ontario to discuss this process. These candidates also complete four (4) courses through Wilfrid Laurier University prior to qualifying to write the Case Examination and Board Report. 502 Evaluation 14

Evaluations include: Accelerated Program (as required): Combined CMA Master s Program candidates must complete and pass the Accelerated Program with a minimum passing mark of 60%. Accelerated Program Evaluation Student evaluation is based on performance in each segment, which is evaluated on the basis of one three-hour test, one four-hour test, and the completion of weekly quizzes in each segment. In addition, students must complete six (6) mandatory management studies quizzes. Students must complete the following management studies quizzes within Segment 1 of the program: Marketing, Human Resources, Operations Management and Information Technology. Students must then complete the Internal Control and Strategic Management quizzes, within two weeks of Test 4 (the final Accelerated Program test in Segment 2). To successfully pass the Accelerated Program and qualify for the Entrance Examination, students must achieve a minimum grade of 60% in each segment as well as successfully complete all of the management studies quizzes. After enrolling, students are provided with access to an interactive web-based learning environment. This website contains detailed lesson notes, reinforcement problems with solutions, pre-recorded online lectures, and related materials. Those enrolled in the online learning option can pose specific questions on the material to an instructor via email, while lecture students will be able to attend classes and ask questions directly to their instructor or online. Additionally, all students will be provided with a Financial Accounting Primer to review prior to beginning the program to assist in reinforcing the Introductory Financial Accounting material. Students who request the complimentary English language support program are provided with the CMA ESL lecture ready primer. The lesson notes and related reinforcement problems and solutions have been designed to assist students in managing their own time in order to develop a good understanding of the topics. It is recommended that students allow for a minimum of 20 hours of study time, on average per week, in addition to the in-class and/or online lecture viewing time. Accelerated Program Tests It is mandatory that students write all four Accelerated Program tests on their scheduled date at the supervised test centre they are assigned. Students (whether taking the program by lecture or online learning) who miss a test for any reason must contact the CMA accreditation office in writing, no later than the Monday following the missed test to appeal for accommodations to be made. Appeals are considered on a case by case basis. Only those students with legitimate reasons for missing a test will be considered. Students who miss a test for any reason that is not accepted on appeal will be assigned a mark of zero for that module, and his or her 15

performance in the CMA Accelerated Program will be deemed incomplete and necessitate retaking the entire program. Location confirmations for the tests will be posted to the Accelerated Program website two weeks prior to each test. Two to three weeks after each test, lecture students will have test books returned in class, while online students test books will be returned via regular mail. CMA Ontario does not return Scantron forms or test question papers. Distance learning tests are marked by a professional marker using a template of solutions and marking key. Should a student disagree with the marking, a re-mark may be requested. The original test should be returned to the CMA office within 14 days of receipt, outlining the student s concerns, and payment of $56.50. The re-mark will be returned to the student with appropriate commentary within two (2) weeks. If a student s mark changes, the re-mark fee will be refunded. Note that the student s final grade on the test will be the re-mark mark, even in the event that that mark is lower than their original grade. Students are required to arrange personal and professional commitments around CMA Accelerated Program Examination dates. Students will not be admitted to the examination room after an Accelerated Program Examination has been in progress for 30 minutes. The following is a list of materials that can be taken into an examination centre for use during the examination: ƒ Pens, pencils, erasers, and rulers ƒ One of the following financial calculators: Texas Instruments TI BA II Plus (including the professional model), Hewlett Packard HP 10bII (or HP 10Bii) or the Sharp EL-738C All other materials are prohibited. Students must have a soft lead pencil with them when writing the examination to enable them to record their answers to the multiple-choice questions on a Scantron answer sheet. Examination material issued to students at the beginning of and during the examination (i.e., question paper, supplement of formulas and tables, envelope and answer paper) cannot be removed from the examination centre. Students must submit all required examination material in their envelope along with their answer paper and return the envelope and all unused answer paper to the presiding officer. Any work done on the question paper, supplement formulas or unofficial answer sheets will not be marked. 16

Any texts, lesson notes, cell phones, reading material, briefcases, etc., will not be allowed into an examination centre. All formulae needed to write the examination will be supplied as part of the examination question paper. Accelerated Program Examinations will not be returned or available for review once the student has submitted it for marking. Entrance Examination: Combined CMA Master s Program candidates must write and pass the Entrance Examination with a minimum passing grade of 60%, unless granted a waiver through completion of a CMA Canada accredited academic institution with a CGPA of 75% or its equivalent. Entrance Examination Materials The following is a list of materials that can be taken into an examination centre for use during the examination: ƒ Pens, pencils, erasers, and rulers ƒ One of the following financial calculators: Texas Instruments TI BA II Plus (including the professional model), Hewlett Packard HP 10bII (or HP 10Bii) or the Sharp EL-738C. All other materials are prohibited. Students must have a soft lead pencil with them when writing the examination to enable them to record their answers to the multiple-choice questions on a Scantron answer sheet. Examination material issued to students at the beginning of and during the examination (i.e., question paper, supplement of formulas and tables, envelope and answer paper) cannot be removed from the examination centre. Students must submit all required examination material in their envelope along with their answer paper and return the envelope and all unused answer paper to the presiding officer. Any work done on the question paper, supplement formulas or unofficial answer sheets will not be marked. Any texts, lesson notes, reading material, briefcases, etc., will not be allowed into an examination centre. All formulae needed to write the examination will be supplied as part of the examination question paper. Entrance Examination Admittance The admittance form must be taken to the examination centre along with photo identification. If the admittance form is not received 7 days before the examination, contact the accreditation department. 17

A detailed booklet outlining examination procedures and regulations will be sent to each student in advance of the examination sitting, with his or her location confirmation. Students will not be admitted to the examination room after the Entrance Examination has been in progress for 45 minutes. Current Entrance Examination Syllabus Requirement The Entrance Examination is held twice each year, in mid-june and mid-october. The Entrance Examination is four hours in duration and is comprised of approximately 120 multiple choice questions. The pass mark for the CMA Entrance Examination is 60%. Students must pass the Entrance Examination to proceed into the Strategic Leadership Program. Entrance Examination Results Results are available online approximately four to six weeks after the examination is written, and are also posted on the CMA Canada web site, www.cma-canada.org, and are accessible only by students. Under no circumstances will results be released by telephone. A mark of 60% must be attained in order for students to have achieved a pass in the Entrance Examination. Combined CMA Master s Program candidates are required to complete a mandatory preparation session before completing the CMA Case Examination or Board Report (this preparation session is included as part of the Wilfrid Laurier Combined CMA Master s Program). Case Examination: Combined CMA Master s Program candidates must write and pass the Case Examination with a minimum pass mark of 60%. CMA Board Report with a minimum pass mark of 60%. 503 Assignment Submission In the Combined CMA Master s Program, there is typically one assignment (the Practice Case Examination) which is submitted for marking and feedback. Other assignments consist of preparation for and participation during the preparation program sessions. Assignments are based on independent work on the assigned case at the end of the Case 18

Examination Preparation Program. All assignments must be submitted to the CMA Canada Professional Programs website no later than 4:30 p.m. on the due date. It is strongly recommended that candidates ensure that their assignment has been successfully posted on the CMA Canada Professional Programs website, as CMA Ontario will assume no responsibility for assignment posting errors. Submission of the assignment is mandatory. Failure to submit an assignment will result in a deferral of candidates studies until the next year. Late reports will not be marked. Please note only one (1) Word 2007 format file is to be submitted to the website for reports. All exhibits, charts, etc. need to be embedded in the Word document. Candidates experiencing difficulty in submitting a report may request an extension to the due date. Extensions are only granted in unusual circumstances. Normal employment related obligations (i.e., month and year-ends, tax season, special projects) will not be considered. Candidates must email CMA Ontario s Candidate Support Representatives at least 48 hours before a due date to request an extension. If an extension is warranted, supporting documentation may be required. Permission to submit an assignment late affects only that report. 504 Case Examination Combined CMA Master s Program candidates who have been unsuccessful in the CMA Case Examination will be required to participate in a mandatory prep session before being permitted to make an additional attempt at the CMA Case Examination. Candidates who do not attend either a complete CMA Case Examination or CMA Board Report preparation session or do not make acceptable alternative arrangements with CMA Ontario to attend another offering will be required to defer their studies and continue in the program from that point in the next offering. If alternative arrangements are required, candidates should contact CMA Ontario at least three weeks prior to the session. This deferral is conditional upon their eligibility to defer the program and still remain in compliance with the time limit policy. As the schedule for the program is published well in advance, it is a candidates responsibility to arrange personal activities around these deadlines. Candidates who wait until after a missed deadline to re-schedule will be charged an administrative fee. Candidates can take the CMA Case Examination a maximum of three times. Candidates who, at an earlier time, failed a CMA Canada qualifying examination (Entrance Examination) are eligible to pursue the designation through this route but are still only allowed 19

three attempts of the Case Examination in total. 505 Board Report and Presentation The Board Report is a group Board Report designed to review and integrate the required CMA Canada program content. The Board Report is to be 10,000 words, plus exhibits. A period of more than two months will be given to complete the written report. Candidates will normally be expected to complete the CMA Canada Board Report by the first week of June. The written report will be graded by CMA Canada. A presentation based on this report will be made to a panel of CMAs. The presentations will be scheduled over several weekends in June. As dates and times for presentations are not flexible, candidates should not schedule other activities for those days. Candidates will be assigned a group of four to six candidates to work on the Board Report by the CMA Ontario office. Board Report: Combined CMA Master s Program candidates must obtain a grade in excess of 60% on a combination of the written Board Report and Presentation and is broken down as follows: Written Report Presentation 70 percent 30 percent Candidates who do not receive a pass mark of 60% for the Board Report are required to repeat this element of the program again. In addition, Combined CMA Master s Program candidates that have been unsuccessful in the CMA Board Report will be required to participate in a mandatory preparation session before being permitted to make an additional attempt at the CMA Board Report. Candidates can complete the CMA Board Report a maximum of three times Combined CMA Master s Program candidates must successfully complete the master s program prior to the awarding of the CMA designation. Candidates evaluated by CMA Ontario to be at a CS3 level or higher have an opportunity to apply for the Executive Phase of the Combined CMA Master s Program. Accepted candidates must successfully complete the three-module Application Phase before enrolment in the Board Report process. 506 Fees Combined CMA Master s Program candidates must pay the program registration fee upon 20

application to the program. Component fees are to be paid upon registration for each individual component (e.g. CMA Case Examination). Refunds are subject to the policies in place for each individual component. Annual candidate fees are waived for Combined CMA Master s Program candidates for the first two years that they are in the program only. Candidates must begin paying the annual candidate fees once the two year time limit has expired. Combined CMA Master s Program registration fees are non-refundable. Combined CMA Master s Program registration and component fees are subject to change. Airfare, accommodations and meals for Combined CMA Master s Program will be each participant s responsibility. Meals are not provided during the preparation sessions. Entrance Examination Preparation Program fee is not included in the Entrance Examination component fee. Candidates are required to participate in the Entrance Examination Preparation Program and must pay the associated fee. The Case Examination and Board Report preparation sessions are included in the component fee. Audits of Entrance Examination, Case Examination and Board Reports are not included in the component fee and these requests will be subject to an additional fee. To remain in good standing, candidates who have not completed all the Combined CMA Master s Program components within the first two years are required to submit an annual registration fee upon receipt of the invoice. Fees cover the period of July 1 to June 30 and are tax deductible as tuition fees. Candidates who have not submitted their fees by July 30 will have their active status inactivated without notice. 507 DELETED 508 Refunds Candidates must notify the CMA Ontario office in writing of their intention to withdraw. Date of receipt of the letter, email or fax will constitute the withdrawal date. No refunds will be given after the commencement of the program. 509 Experience Please click here for details about Practical Experience Requirements. 21

600 - DELETED 700 - Executive Program 701 Executive Program Eligibility The CMA Executive Program is designed for senior level executives working at Career Stage 3 and 4 of the CMA Competency Map who work in strategic financial leadership positions. Individuals who, at an earlier time, failed a CMA Entrance Examination are not eligible for consideration for entry into the CMA Executive Program for a period of five years. Applicants for the CMA Executive Program must have a minimum of five years of practical experience in a strategic financial leadership position at Career Stage 3 or 4 as described in the CMA Competency Map. Employer references will be checked to verify the accuracy of the information provided for practical experience. It is recognized that individual applicants often have unique strengths, not fully recognized in the above, and those strengths can be given special consideration in the admission decision. The following criteria are considered: ƒ Senior management experience; ƒ References; ƒ Previous academic experience; and ƒ Results of a personal interview, should one be requested by CMA Ontario. Individuals who satisfy the above criteria will be eligible for admission into the CMA Executive Program and will not be required to write the CMA Entrance Examination and Case Examination. Upon successful completion of the CMA Executive Program, applicants will be eligible to apply for certification as a CMA. 702 DELETED 703 Evaluation Candidates must meet, on a continuing basis, program expectations as defined by the CMA Competency Map. Subject to CMA Ontario staff approval, candidates may re- submit assignments to meet this standard. 22

The program will consist of CMA Ontario evaluation and CMA Canada marking. All components of the program are mandatory. Participants will be evaluated on their participation at each interactive session. Business Application Reports (BAR) will be marked by CMA Canada. The evaluation of the participants at the interactive sessions will be the responsibility of the moderator, under the guidance of CMA Ontario. 704 Assignment Submissions During the Foundation Phase, there are assignments during each module which consists of preparation for interactive sessions, participation during the interactive sessions, and postsession assignments which are evaluated by the moderators. In the Application Phase, there are approximately two group assignments submitted to a national marking team for marking and feedback. Other assignments during the module consist of preparation for interactive sessions, participation during the interactive sessions, and group presentations, which are evaluated by the moderators. All assignments must be submitted to the CMA Canada Professional Programs website no later than 4:30 p.m. on the due date. It is strongly recommended that candidates ensure that their assignment has been successfully posted on the CMA Canada Professional Programs website, as CMA Ontario will assume no responsibility for assignment posting errors. Submission of the assignments is mandatory. Failure to submit an assignment may result in a deferral of your studies until the next year. Late reports may be subject to assessment reductions. Please note only one (1) Word 2007 format file is to be submitted to the website for your report. All exhibits, charts, etc. need to be embedded in the Word document. Candidates experiencing difficulty in submitting a report may request an extension to the due date. Extensions are only granted in unusual circumstances. Normal employment related obligations (i.e., month and year-ends, tax season, special projects) will not be considered. Candidates must email the CMA Ontario accreditation department at least 48 hours before a due date to request an extension. If an extension is warranted, supporting documentation may be required. Permission to submit a report or assignment late affects only that report. The moderators will evaluate the totality of assignments and interactive session participation 23

for each module, and will provide an overall module assessment. If any interactive session is deemed to be Below Expectations, at the sole discretion of CMA Ontario, candidates will be deferred for one year. In addition, candidates will have to achieve a grade of Meets Expectations or Above Expectations to continue in the program. 705 Interactive Session Participation Candidates who do not attend either a complete session or do not make acceptable alternative arrangements with CMA Ontario to attend another offering will be required to defer their studies and continue in the program from the beginning of the phase in the next offering. If alternative arrangements are required, candidates should contact CMA Ontario at least three weeks prior to the session. This deferral is conditional upon their eligibility to defer the program and still remain in compliance with the time limit policy. As the schedule for each year of the program is published well in advance, it is candidates responsibility to arrange personal business obligations around these deadlines. 706 Candidate Evaluation Candidates must meet, on a continuing basis, program expectations as defined by the CMA Competency Map. Subject to CMA Ontario staff approval, candidates may re- submit assignments to meet this standard. The program will consist of CMA Ontario evaluation and CMA Canada marking. All components of the program are mandatory. Participants will be evaluated on their participation at each interactive session. The evaluation of the participants at the interactive sessions will be the responsibility of the moderators, under the guidance of CMA Ontario. 707 Board Report The final evaluation will be the CMA Board Report. The Board Report will test material covered in the CMA Executive Program. The Board Report is to be a maximum 10,000 words, plus exhibits. A period of more than two months will be given to complete the written report. The written report will be graded by Certified Management Accountants of Canada (CMA Canada). A presentation based on this report will be made to a panel of CMAs. The presentations will be scheduled in June. As the dates and times for the presentations are not flexible, candidates should not schedule other activities for those days. Candidates will prepare their reports in small teams and will be required to present their report 24