In this series focused on EVR reporting, CPA Alberta’s Practical Experience team provides information on the technical competency practical experience requirements and tips on reporting EVR experience. If you haven’t read the previous posts, click here for part one, here for part two, and here for part three. Part four focuses on the mentor review process.
Mentor reviews are an incredibly important component of the Practical Experience Requirements. This function allows CPAs to guide candidates in their progression, helping ensure that they are developing the technical and enabling competencies needed to become CPAs.
What is required?
Candidates must meet with their mentor at least twice per year. In other words, for every 12 months of current experience claimed, there must be two documented mentor meetings in PERT.
Prior experience is exempt from the mentor review requirement. However, it is a best practice to discuss your prior experience with your mentor in your first meeting.
Candidates need to complete an experience report in advance of meeting with their mentor. This will enable their mentor to review their experience in advance and be in a position to have a meaningful conversation about their progression.
What are the penalties?
If a candidate misses a mentor review, they will be imposed a one-month duration penalty at the end of their term of practical experience. The penalty is in place as the mentor review function is incredibly important in a candidate’s development into a newly designated CPA.
Who can mentor?
Any Alberta CPA in good standing with CPA Alberta is eligible to mentor CPA candidates. Candidates in EVR can choose any mentor they like; however, it is ideal if a candidate is able to have a mentor who works in their organization. This way, the mentor has a higher level of understanding of the candidate’s work and can provide more value to the discussion about progression.
Hopefully you now have a better understanding of the importance of mentor reviews. Part five in this series (coming soon!) will explain licensure.
