The American Institute of CPAs is asking for feedback on an exposure draft of the redesigned Uniform CPA Exam.
The AICPA has been working with the National Association of State Boards of Accountancy on a CPA Evolution initiative to overhaul the exam to make it more relevant for businesses today and test more for technology skills. The revamped exam and CPA licensing model are expected to be launched in January 2024, and the AICPA is asking for feedback through Sept. 30, 2022. The exposure draft includes the draft Uniform CPA Examination Blueprints, the official document that presents content that’s eligible for assessment on the exam, based on the knowledge and skills required of a newly licensed CPA.
Core parts of the exam include a focus on understanding how data is structured and information flows through underlying IT systems and business processes, as well as determining methods for transforming data to make it useful for decision-making, verifying the completeness and accuracy of source data, and using the outputs of automated tools, visualizations and data analytics techniques.
Under the new CPA Evolution licensure model, all CPA candidates will need to take three core sections: financial accounting and reporting; auditing and attestation; and taxation and regulation. Each candidate will then select a discipline in which to demonstrate extra skills and knowledge: business analysis and reporting; information systems and controls; and tax compliance and planning. No matter what a candidate’s chosen discipline is, the model will lead to a full CPA license.
The AICPA is asking for comments on the exposure draft via email to firstname.lastname@example.org by Sept. 30, 2022. All feedback will be considered when finalizing the design of the 2024 exam.