Clarified U.S. Auditing Standards


Changes to the Profession, Changes to Exam Content


The Exam’s content team is often approached with questions regarding how and when vast changes to the accounting profession such as Auditing Standards Board’s

(ASB) Clarified Auditing Standards and the tax changes resulting from the Fiscal Cliff affect the CPA Exam.


The Exam changes with the profession, assessing whether candidates have the content knowledge and skills required of entry-level CPAs, as defined through a detailed practice analysis of the profession. The AICPA Examinations team also works through a variety

of committees that are comprised of experts across the profession, including CPAs, psychometricians, regulators and educators, to ensure that the Exam reflects the current needs of the profession.



The best way to answer how changes to the professionare incorporated into the Exam is by sharing the recently revised AICPA Board of Examiners’ Policy on New Pronouncements and also by discussing the content and skills that will be eligible for testing on the Exam. The general rule though is that all items covered by the CPA Exam’s Content Specification Outline (CSO) are eligible for testing.



Policy on New Pronouncements


The Policy on New Pronouncements is evaluated regularly by the Board of Examiners, a senior AICPA committee and the body that oversees the content, administration and scoring of the Exam according to licensing and psychometric standards. As of Feb. 1, 2013, the policy states that new pronouncements are eligible for testing on the Exam

six months after a pronouncement’s effective date or enactment date, whichever is later. There are a few exceptions to this basic rule, as the policy states:


When early application is permitted for accounting and auditing, the new pronouncement is eligible to be tested in the window beginning six months after

the issuance date. In this case, both the old and new pronouncements may be tested until the old pronouncement is superseded.”



Monitoring Recent Changes to the Profession


As for upcoming changes, the most sweeping will be found in the Auditing and Attestation (AUD) section of the Exam. The ASB’s recently issued clarified U.S.

Auditing Standards, effective for audits of financial statements for periods ending on or after Dec. 15, 2012, will be eligible for testing on the CPA Exam beginning

in the third quarter of 2013. The extant standards, which remain in effect for audits of financial statements ending before Dec. 15, 2012, also are eligible for testing on the CPA Exam while they remain in effect. During the period that both sets of standards are eligible for testing, only the clarified standards will be used for research questions.


The Exam’s content team monitors the profession closely to keep the examination current. Some of the items being monitored in the AUD section include the ASB’s clarity projects, Accounting and Review Services Committee’s (ARSC) clarity project, Professional Ethics Executive Committee’s (PEEC) codification project; and the various Public Company Accounting Oversight Board (PCAOB) Concept Releases and Standards. In the Financial Accounting and Reporting (FAR) section, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) convergence projects (Revenue Recognition, Leases, and Financial Instruments); developments

related to the Private Company Council and the AICPA’s Financial Reporting Framework for Small- and Medium-Sized Entities; and standards developed by the Governmental Accounting Standards Board (GASB) are being monitored. In the Business Environment

and Concepts (BEC) section, we are monitoring the Dodd-Frank Act, the soon to be released update to the COSO Internal Control — Integrated Framework,

the Jobs Act, the update to the International Standards for the Professional Practice of Internal Auditing. In the Regulation section, items being monitored include

the American Taxpayer Relief Act of 2012, Patient Protection and Affordability Care Act (PPACA) and Treasury Circular 230 changes.



This list reflects the most significant changes to the Exam. For a complete list of items eligible for testing, please visit the AICPA website’s section on CPA Examination’s contenthttp://goo.gl/I2u8y, which includes the CSO blueprints of what’s on the Exam and a summary of changes to 2013 CSOs http://goo.gl/g9jiwand 2014 CSOs http://goo.gl/7mDmy. Items eligible under the Policy on New Pronouncements may also be tested. Candidates can learn more on-line at aicpa.org/cpa-exam.


Clarity Project is Single Largest Change to the AUD Section in the Last Decade


Emerging accounting standards continuously challenge the CPA Exam’s content team to ensure that questions reflect what an entry-level CPA needs to know. The Clarity Project is one such case. The volunteers and staff of the Exam’s Audit and Attestation (AUD) section recently spent countless hours ensuring that the AUD section would represent content that is up to date with the Clarity accounting standards. James Pischel, Senior Technical Manager of the AUD section, stated: “It was rewarding to see the integration of the clarified auditing standards go smoothly. We have our many volunteers who serve

on the AUD subcommittee and the Content Committee to thank for a job well done.”


以上消息來源: AICPA 官網 CPA exam alert