January 2014: Clarity Standards only on AUD Exam

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)

Related Posts

trump-tax-law-changes-cpa-exam

Trump Tax Law Changes Tested on CPA Exam in 2019

The AICPA has released a statement on the Trump Tax Law Changes and how they will be tested on the CPA Exam. They will be tested in January 2019, which is a six-month delay. Analysis: Typically, new tax law changes are testable beginning in July each year, but will the massive changes, coupled with the […]

Video: July 2016 CPA Exam Changes (97 seconds or less)

HIYA! This video covers the July 2016 CPA Exam Changes to FAR/AUD/REG/BEC in 97 seconds or less. Free CPA Exam Notes & Study Planner: https://www.another71.com/cpa-exam-study-plan/

cpa-exam-study-tips

2015 CPA Exam Changes: FAR AUD REG BEC

We are going to cover the 2015 CPA Exam changes. Now, if you are not familiar with another71, a little bit about me: I am a licensed CPA in the state of Kansas. I live here in flyover country. I created another71 back in 2008 and since then, it has become the most-visited CPA Exam […]

Video: 2014 CPA Exam Changes Summary

This quick video highlights the must-know changes for the 2014 CPA Exam and includes: 2014 REG Changes and Updates (4:30) 2014 BEC Changes and Updates (6:25) 2014 FAR Changes and Updates (8:10) 2014 AUD Changes and Updates (9:40) If your CPA Review Course doesn’t offer free updates and you’re relying on 2013 CPA Exam study […]

Leave a Reply