CPA Exam Changes

January 2014: Clarity Standards only on AUD Exam

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The “old” GAAS will no longer be tested on Auditing exams beginning January 2014.

The AICPA has released a statement on their site regarding the testing of content on the Auditing and Attestation exam in 2014. Before now, it was undetermined when the extant (aka the old GAAS) standards would cease being tested.

Beginning in 14Q1, the extant standards (AUs) will no longer be tested on the AUD section of the Uniform CPA Examination.

The clarified U.S. Auditing Standards (the AU-Cs), issued by the Auditing Standards Board in 2012, are effective for audits of financial statements for periods ending on or after December 15, 2012. These clarified standards became eligible for testing on the Uniform CPA Examination beginning in 13Q3.

At present, the pre-clarified standards, otherwise known as the extant standards (AUs), remain in effect and are also eligible for testing on the Uniform CPA Examination.

On January 1, 2014, the AICPA plans on suspending publication of the extant standards (AUs). This follows the normal timeline, where publication is stopped approximately one year after a new standard is issued.

Beginning in 14Q1, the extant standards will no longer be tested on the CPA Exam. The clarified U.S. Auditing Standards (AU-Cs) will remain eligible for testing.

See also: July 2013 AUD Changes (Video)

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