Thinking about taking the CPA exam? By January 2024, the AICPA and NASBA plan to launch a new CPA Exam. CPA Career July 8, 2020 Switching to Public Accounting? The exam is not expected to change until January 2024 at the earliest. CPA Exam Testing Launches Oct. 1 in Europe (September 5, 2018) The U.S. CPA Exam will be offered at Prometric test centers in England, Germany, Ireland and Scotland as of October 1, 2018. The New mode l for CPA licensure; expected to launch in 2024 CPA Evolution impact on Exam, education and the states. She also extended her role to management accounting and financial accounting and obtained her U.S. CPA qualification. The AICPA (American Institute of Certified Public Accountants) and NASBA (National Association of State Boards of Accountancy) have noted a critical trend in the accounting profession. IP: 126.96.36.199. The time limits for two sections have changed slightly as well. So, for example, even though the first 3 sections might test broad tax concepts, the discipline test for taxation compliance and planning will address more nitty-gritty taxation details. Basically, the CPA Evolution initiative means that the content on the CPA Exam will change by January 2024. What’s next for accounting academic … Additionally, NASBA and AICPA will move forward to revise the Uniform CPA Exam’s content and skills blueprint, which is anticipated to culminate in the launch of a new CPA Exam in January 2024. New CPA Exam Changes - CPA Exam Evolution of 2024 - YouTube Here’s a summary. The CPA Exam consists of four, four-hour sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG). The discipline-specific test could be the hardest since candidates must demonstrate in-depth knowledge. Do you think it would make it easier or harder for exam candidates to pass? Passing all parts of the CPA exam is no easy feat – especially if you want to do it on your first try. All this talk about CPA evolution is meaningless until it is explained that the final exam format will be changed by January 2024. Creation date: 25th-Feb-2010 The CPA profession is vital to the economy and society and must be prepared and be able to respond to changing demands. As business practices and financial regulations change, the CPA Exam needs to be revised to ensure that it tests the skills that future CPAs will need to meet tomorrow’s accounting challenges. And if you don’t already have some sense of that deep knowledge before you start your CPA journey, that could mean longer study times to pass all 4 exam parts. The novel coronavirus pandemic has led to delays in sittings for the Uniform CPA Exam this year and wider flexibility in how the test is administered, but Dustin doesn’t anticipate that will affect the timing of the CPA Evolution initiative. In the digital age of 2020, CPA firms and clients will easily connect in real-time, leading to enhanced transparency and security. CPA Exam Changes Effective July 1, 2020: The third quarter will see a continuous testing model added to the CPA Exam for the first time. It’s expected that the exam still will be no more than 16 hours, and candidates still will be required to pass four sections, including their chosen discipline. 45 minutes ago. This article details the 2024 CPA exam changes. Products. By January 2024, the AICPA and NASBA plan to launch a new CPA Exam. She oversees the financial aspect of New Sight in Hong Kong, including accounting, taxation, financial management, and compliance. The CPA Exam will be restructured to accommodate this core-plus-discipline licensure model, with a goal of launching a new exam in January 2024. Do you think it would make it easier or harder for exam candidates to pass? CPA Exam Changes Effective January 1, 2020: The first quarter of 2020 will see new Financial Accounting and Reporting (FAR) pronouncements tested in the CPA Exam for the first time. by Stephanie Ng, CPA August 4, 2020 Number of comments 0. Next post CPA Study Tips For the Quarantine July 1, 2020. T he AICPA and the NASBA have approved a new format for the CPA exam in the U.S. The CPA Exam will be restructured to accommodate this core-plus-discipline licensure model, with a goal of launching a new exam in January 2024. In this model, all candidates will complete a robust common core of accounting, auditing, tax and technology. But still, regardless of which discipline test candidates pass, there will still be one CPA license. At this point, the AICPA and NASBA anticipate that the updated CPA Exam will be available by January 2024. CPA Exam Overview. The AICPA (American Institute of Certified Public Accountants) and NASBA (the National Association of State Boards of Accountancy) are leading the effort. So, if you’re considering the CPA credential but haven’t sat for any exams yet, I strongly encourage you to start studying now and take the exam before January 2024. 2024 CPA Exam Changes. By January 2024, the AICPA and NASBA plan to launch a new CPA Exam. Feedback from 80 AICPA subject-matter experts and 130 CPAs who directly supervise newly licensed CPAs was incorporated into the ED and Invitation to Comment. Our course was updated by June 11, 2019 to accommodate the July 1st revisions. We are moving forward with a core + discipline model for CPA licensure, with a goal of launching a new exam in 2024. She began her career as an investment banker at Lehman Brothers in New York and Morgan Stanley in Hong Kong. New Standard, New Model In specific ways, the path to becoming a CPA will remain the same as before, with licensure dependent on core competencies in accounting, auditing, tax, and technology. Then, each candidate will choose a … And since you will need to demonstrate your skills in the core content areas plus a sub-discipline, the CPA Exam could become much more challenging. Office Closure. Here’s how the transition could affect you: This is not the first time the AICPA has modified the CPA Exam, and I’m sure it won’t be the last. NASBA and the AICPA will continue to work collaboratively with stakeholders from across the profession to implement this new licensure model. And, there are more than 5 times as many auditing standards to follow. The final content and exam length will be determined only after administered practice exams to volunteers. A second aspect, Discipline will … Please try again. Since the AICPA first administered the CPA Exam, the accounting profession has changed drastically. Even though the new CPA Exam will be in 4 parts, we don’t yet know the exact number of questions.