CPA Evolution changes 2024 | clear cpa exam in 2023

Updated April 25, 2023

CPA exam breaking news : CPA exam scores to be valid up to 30 months , awaiting individual board confirmation !!

NASBA adopted 30 months for an amendment to the UAA. The individual boards of accountancy must choose to adopt this.

The UAA Model Rules have no immediate effect on state board rules. As the membership organization of the 55 U.S. Boards of Accountancy, NASBA, through its Uniform Accountancy Act Committee, provides the Model Rules as recommendations to boards for adoption whereby uniform adoption is encouraged. As such, each individual board may consider the amendment to the Model Rule 5-7 and, if so choose, commence a process to change the rules at the state level. Current Exam candidates remain under existing rules until, if and when, the board to which they applied makes changes.

CPA exam is four paper exam consist of FAR, AUD, REG, BEC and CPA exams in India happen every month in locations like CPA delhi, Bangalore, Hyderabad, Mumbai, Ahmedabad , Kolkata, Trivandrum, Kerala.

CPA course has a completely online exam approach and is not pen pencil exam, it has 50% MCQ and 50% Simulation ( case law ) oriented questions.

Guam CPA licensee can now obtain Canada CPA certification without taking exams!

If you have completed your CPA exam, and you hold a U.S. CPA license, you can earn a Canadian CPA designation. The MRA (mutual recognition agreement) between all Canadian CPA bodies and the United States International Qualifications Appraisal Board (IQAB), which represents the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA), came into effect on 1st January, 2018.

Members of provincial/regional CPA bodies have the right to:

Use the CPA designation
Be registered
Audit
Other services or licensure

ELIGIBILITY REQUIREMENTS FOR U.S. CPAs SEEKING THE CANADIAN CPA DESIGNATION

If you have a U.S. CPA credential, you may be eligible to obtain the Canadian CPA designation through this MRA if you are a licensee in good standing of a State Board, and you meet the following additional criteria: You have at least 150 semester hours of college or university education, including a baccalaureate or higher degree conferred by a State Board-approved college or university. The U.S. CPAs who qualified prior to the introduction of the 150-semester hour requirement are grandfathered in by this agreement as having met the 150-semester hour requirement.
You have successfully completed the Uniform CPA Exam.
You have 30 months of practical experience in the field. Applicants with two years of relevant post-qualification experience are deemed to have fulfilled the 30-month experience requirement. Candidates with less than two years of relevant post-qualification experience must fill out the International Practical Experience Verification and Employer Details form.
You are in compliance with the Continuing Professional Education (CPE) requirements of your State Board.

Canada-USA RECIPROCITY (As of July 2022)

State Boards of Accountancy with which Canadian bodies have reciprocity (passing the international qualification examination is required) and which have adopted the 150-hour education requirement prescribed by NASBA & the AICPA.

Alabama State Board of Public Accountancy
Arizona State Board of Accountancy
Arkansas State Board of Public Accountancy
California State Board of Accountancy
Commonwealth of the Northern Mariana Islands
Colorado State Board of Accountancy
Connecticut State Board of Accountancy1
Delaware State Board of Accountancy
District of Columbia Board of Accountancy1
Florida Board of Accountancy
Georgia State Board of Accountancy
Guam Board of Accountancy
Hawaii Board of Public Accountancy1A
Idaho State Board of Accountancy
Illinois Board of Examiners and Dept. of Financial & Professional Regulation
Indiana Board of Accountancy
Iowa Accountancy Examining Board
Kansas Board of Accountancy1
Kentucky State Board of Accountancy
State Board of CPAs of Louisiana
Maine Board of Accountancy
Maryland State Board of Public Accountancy
Massachusetts Board of Public Accountancy
Michigan Board of Accountancy
Minnesota State Board of Accountancy

Missouri State Board of Accountancy
Montana State Board of Public Accountants
Nebraska State Board of Public Accountancy1
Nevada State Board of Accountancy
New Hampshire Board of Accountancy
New Jersey State Board of Accountancy
New Mexico Public Accountancy Board
New York State Board for Public Accountancy
North Carolina Board of CPA Examiners2
North Dakota State Board of Accountancy
Accountancy Board of Ohio
Oklahoma Accountancy Board1
Oregon State Board of Accountancy
Pennsylvania State Board of Accountancy
Rhode Island Board of Accountancy
South Carolina Board of Accountancy
South Dakota Board of Accountancy
Tennessee State Board of Accountancy
Texas State Board of Public Accountancy
Utah Board of Accountancy
Vermont Board of Accountancy
Virginia Board of Accountancy
Washington State Board of Accountancy
West Virginia Board of Accountancy
Wisconsin Accounting Examining Board
Wyoming Board of Certified Public Accountants

STATE BOARDS OF ACCOUNTANCY WITH WHICH CANADIAN BODIES DO NOT OFFER RECIPROCITY - PASSING THE CFE IS REQUIRED

Alaska State Board of Public Accountancy
Mississippi State Board of Public Accountancy
Puerto Rico Board of Accountancy

These are two-tiered states. Initially, a certificate is obtained that does not grant the individual full CPA privileges. After meeting additional requirements, the certificate holder may be granted a license or permit. Only those candidates who have completed the CPA course and have an active license or permit are deemed substantially equivalent.
Legacy CAs are only recognized in the provinces of British Columbia, Nova Scotia, Ontario, Manitoba, New Brunswick, and Saskatchewan.

Notes: The information contained herein is subject to change by the US state boards without notice. It is the responsibility of the applicant to confirm and, if necessary, provide proof that the state board has adopted the 150-hour education requirement.

The deadline to take AUD, FAR, and REG exams before CPA Evolution is December 15, 2023!

That means that if you pass all four sections of the CPA Exam before December 15, 2023, none of the other content or administration changes should affe

The CPA Exam will not be administered between December 16, 2023 and January 9, 2024, so that testing centers can get ready to administer the 2024 CPA Exam.

Post-CPA Evolution 2024 Scenario

The new exam, which incorporates all of the CPA Evolution changes, will be available beginning January 10, 2024.

Core sections (AUD, FAR, and REG) will be available until March 26, 2024.
Authorizations to Test and NTSs for these Core sections will be processed in real time.
Discipline sections (BAR, ISC, and TCP) will be offered through February 6, 2024.
Testing authorizations and NTSs for Discipline sections will not be processed until November 22, 2023.

The Boards of Accountancy are considering extending credit for any sections passed by candidates on January 1, 2024, to June 30, 2025.

The policy has already been approved by 39 people.
The NASBA maintains an up-to-date map.

Accountancy boards are also considering changing the start date of the 18-month rolling window for CPA Exam credit.

Many boards now use the date a candidate sits for and passes their first section of the CPA Exam.
The date would be shifted to when NASBA or the state board releases the candidate's passing score.

All about CPA Evolution

The root causes

The CPA Evolution initiative has been taken into consideration as it modernizes the CPA licensure model to highlight the skills and competencies needed to practice accounting today and in the near future. Evolution introduces a new CPA Exam that tests a particular skill set required by all the candidates, as well as a chosen Discipline in which they can demonstrate their skills and knowledge in detail. The new CPA Exam will still be 16 hours long and will be divided into four sections, three core and one discipline.

The background

The AICPA and NASBA announced an initiative in June 2019 to update the CPA Exam to meet the increasing demands placed on newly-licensed CPAs.
The NASBA Board of Directors unanimously approved the CPA Evolution initiative on July 27, 2020.
In May 2020, the AICPA's Governing Council enthusiastically supported the initiative.
The AICPA started working with academia in 2021 to ensure that students are well prepared for changes in education requirements when they are implemented.

What is the need of CPA Evolution/Changes 2024?

The unique "CORE plus Discipline" framework is intended to demonstrate that CPAs have the in-depth knowledge required to perform professional requirement. This also demonstrates the reality of most methods that concentrate on a single important area of accounting instead of all of them simultaneously. This model will enable the AICPA to easily include or exclude Disciplines in order to accurately recognise practice as it evolves.

Irrespective of which discipline a candidate tests in, once they obtain their CPA licence, they will be able to practice in any area.

When will the CPA Evolution take place?

The new CPA Exam will be available on January 10, 2024. That is when you will be able to take segments of the new and improved CPA Exam pattern.

2024 CPA sneak-peek!

The existing AUD, FAR, and REG segments will be renamed "Core," and all candidates will be required to pass them in order to pass the CPA Exam. The current BEC section, on the other hand, is being phased out. Candidates will choose one of three new "Discipline" sections to demonstrate deeper skills and knowledge in place of BEC.

The new CPA Exam Discipline sections are as follows:

Business Analysis and Reporting (BAR)
Information Systems and Controls (ISC)
Tax Compliance and Planning (TCP)

The management of the new CPA Exam is anticipated to remain largely unchanged: it will still take the same 16 hours as it does now and will be divided into four sections.

Accounting students should be aware of the exam's educational requirements. They have not yet changed, but in June 2021, a new model for an accounting curriculum in line with the CPA Evolution updates was unveiled.

We recommend that candidates complete their CPA studies as soon as possible to avoid having to account for these changes.

Things to know about 2024 CPA Exam

The AICPA released an Exposure Draft (ED) containing tentative CPA Evolution Blueprints for public comment on June 28, 2022, giving the public their first look at the content coming to the CPA Exam in 2024.

In addition to the draught Uniform CPA Examination Blueprints, the ED presents the findings and conclusions of the AICPA's Practice Analysis, which was used to draught the blueprints and was overseen by the Board of Examiners.

The Practice Analysis was designed to identify the technical knowledge and critical skills required of newly licensed CPAs, so the Evolution Blueprint draught is the first look at how the new CPA Exam is addressing the accounting skills gap and ensuring the CPA Certification remains the gold standard in the accounting world.

The Evolution blueprints include not only the content (represented by representative task statements for each exam section), but also the proposed number of questions, how the AICPA intends to weight the content on the new CPA Exam, and the critical skills assigned for testing on each exam section.

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