The American Institute of Certified Public Accountants (AICPA) Exposure Draft and Request for Comments After several months of practical analysis of the Unified CPA Examination (Exam) is completed. This project focused on the impact of data analytics and technology on the role of the newly licensed CPA, reviewing the core knowledge and skills essential for those entering the profession.
exposure draft It incorporates input from more than 130 CPAs who will directly oversee the new license, as well as feedback from the subject matter experts of 80 AICPA volunteers.Result draft Key themes from the study are detailed, along with proposed exam content additions, changes, and deletions.The goal is that the update Blueprint for CPA exam Until December 31, 2020. The 16-hour four-section structure remains unchanged.
At the same time, the AICPA and the National Association of Accountants (NASBA) are collaborating on: Evolution of CPAanother initiative focused on the future of licensing models and the transformation of technology-related professions.
“The final practical analysis is Blueprint for CPA exam and existing test structures.” Michael Decker, AICPA Vice President of Examinations. “This year’s multi-tiered research used a targeted approach that included working with companies of all sizes. Insights on technology, data analysis, and core competencies will help ensure exams remain current and relevant. It helps.”
Invitation to comment is open to interested parties. Opportunity to provide additional input on related topics or potential exam changes that are long-term proposals and require further consideration. There is no definitive plan or expected implementation schedule as more research is needed. Comments are welcome on both the Exposure Draft and the Request for Comments until 30 April 2020.
Themes identified during the practice analysis include:
- Our current trial structure and blueprints are well-positioned to accept changes that reflect the greater appreciation of technology and data analytics.
- Newly licensed CPAs should understand business processes, information systems, data flows, and internal controls.
- A newly licensed CPA must have a digital and data-driven mindset.
- As clients outsource more accounting processes, the profession is increasing its reliance on SOC reports and this is impacting the work of newly licensed CPAs.
AICPA proposes 46 changes. Blueprint for CPA exam This includes content added to exams according to identified themes. We will also address removing content or assessing at a different skill level to focus on the core knowledge and skills required of newly licensed CPAs to protect the public interest.
