Story Pitch: CPA Exam Updates

What They Mean for Future CPAs

PHILADELPHIA - The AICPA Board of Examiners approved major changes to the uniform CPA Exam, which take effect Jan. 1, 2011, and both future CPAs and educators will have to make adjustments. In an effort to keep up with the shift to more universal accounting methods and practices, the test includes changes to:

- Content - testing of International Financial Reporting Standards (IFRS), and other new standards

- Time allotment - a few sections are shorter, while others longer

- Scoring weight - a few sections are now worth more than in previous years

Additionally, there has been talk of changing the passing score for the CPA Exam, though nothing is official at this time. Contact me to set up an interview with a local accounting professor who can discuss what these changes mean for college accounting curriculums and for students.