US CPA Exam Changes 2023 Update | Uplift Professionals
The AICPA has recently announced the updated US CPA exam blueprint. Among all the 4 papers of US CPA course, AUD and BEC papers have undergone major changes. The purpose of the change is to make the upcoming US CPAs more capable to perform their duties productively.
Updated US CPA Exam Blueprints (November 20, 2020)
The US CPA course exam consists of 4 papers: AUD, FAR, BEC & FAR. Each paper is 4 hours long. The changes are described below:
A. Auditing and Attestation (AUD)
The Auditing and Attestation (AUD) section of the Uniform US CPA exam tests the essential knowledge and skills a newly licensed CPA must demonstrate when performing audit engagements, attestation engagements or accounting and review service engagements.
Newly licensed CPAs are required to:
• demonstrate knowledge and skills related to professional responsibilities, including ethics, independence and professional scepticism.
• understand the entity including its operations, information systems (including the use of third-party systems) and its underlying business processes, risks and related internal controls.
• understand the flow of transactions and underlying data through a business process and its related information systems.
| Content Area | Weightage covers |
| Area I Ethics, Professional Responsibilities and General Principles | 15–25% |
| Area II Assessing Risk and Developing a Planned Response | 25–35% |
| Area III Performing Further Procedures and Obtaining Evidence | 30–40% |
| Area IV Forming Conclusions and Reporting | 10–20% |
AUD content weighting changes
· Area II increased from 20%-30% of the section to 25%-35%.
· Area IV decreased from 15%-25% of the section to 10%-20%.
Business Environment and Concepts (BEC)
The Business Environment and Concepts section tests knowledge and skills that a newly licensed US CPA must demonstrate when performing:
• Audit, attest, accounting and review services
• Financial reporting
• Tax preparation
• Other professional services
| Content Area | Weightage covers |
| Area I Enterprise Risk Management, Internal Controls and Business Processes | 20–30% |
| Area II Economics | 15–25% |
| Area III Financial Management | 10–20% |
| Area IV Information Technology | 15–25% |
| Area V Operations Management | 15–25% |
BEC content weighting changes
· Area I increased from 17%-27% of the section to 20%-30%.
· Area II decreased from 17%-27% of the section to 15%-25%.
· Area III decreased from 11%-21% of the section to 10%-20%.
How will these changes imply upon the CPA US aspirants?
The above-mentioned changes will not be tested until July 1, 2021. More questions in AUD will test you at a higher level, so AUD will definitely get more difficult. It’s a good idea to try to pass AUD before the changes go live.
The changes to BEC appear relatively minor. With Continuous Testing now available in India too getting started today will ensure you have enough time to take both sections before July 1.
Continuous CPA testing window in 8 prometrics of India
After a successful pilot testing of the US CPA exam in India during 2020, the American Institute of Certified Public Accountants (AICPA) and National Association of State Boards of Accountancy (NASBA) have decided to switch to continuous US CPA Exam testing from January 1, 2021. The prometrics are:
– Hyderabad
– Ahmedabad
– Mumbai
– Delhi
– Bangalore
– Chennai
– Kolkata
– Trivandrum
CPA Exam Testing Coming to Nepal (October 29, 2020)
Kathmandu will become the latest US CPA Exam testing location when administration of the Exam begins in Nepal on December 1.
Eligible candidates from Nepal, Bhutan, Bangladesh, India, Myanmar, Maldives, Sri Lanka, and the United States may begin scheduling their Exams on November 1, 2020. Testing will be offered year-round.
Middle East Candidates Gain Testing Options (October 29, 2020)
Egypt and Jordan join other Middle East countries where the US CPA Exam is offered. The new testing countries have the same eligibility as existing locations.
Candidates from Bahrain, Egypt, India, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, UAE, U.S. and Yemen may sit for the CPA Exam in Egypt and Jordan. Testing begins on November 1, 2020.
Incase you missed on how to choose the best US CPA exam preparation tips continue reading..
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