AICPA Revises CPA Exam Policy On New Pronouncements

Update

The AICPA Board of Examiners has revised its CPA Exam Policy on New Pronouncements, which includes clarified testing windows for the CPA Exam. The updated CPA Exam Policy becomes effective with the testing window, beginning on April 1, 2016, and, “…will be applied to all accounting and auditing pronouncements issued after July 1, 2015.”  Any standards issued prior to July 1, 2015, will follow the former CPA Exam Policy on New Pronouncements.

According to the AICPA Website, the revised CPA Exam Policy states that pronouncements are eligible to be tested on the CPA Exam in the later of

  • The first testing window beginning after the pronouncement’s earliest mandatory effective date or;
  • The first testing window beginning six months after the pronouncement’s issuance date.

How does this affect individual sections of the CPA Exam?

AUD (Auditing & Attestation)

Pronouncements for AUD are eligible to be tested on the CPA Exam:

  • The first testing window beginning after the pronouncement’s earliest mandatory effective date or;
  • The first testing window beginning six months after the pronouncement’s issuance date

REG (Regulation)

Internal Revenue Code and federal taxation, “…may be included in the testing window beginning six months after the change’s effective date or enactment date, whichever is later.”

All other REG subjects are eligible for testing, “…six months after their effective date, and uniform acts in the window beginning one year after their adoption by a simple majority of the jurisdictions.”

BEC (Business Environment & Concepts)

BEC section materials are eligible for testing, “…beginning six months after their effective date, and uniform acts in the window beginning one year after their adoption by a simple majority of the jurisdictions.

Please refer to AICPA’s detailed standard testing eligibility chart below for more details:

Standard NumberIssuedFirst Window Eligible
ASU 2014 – 10Jun-1415Q1
ASU 2014 – 12Jun-1415Q1
ASU 2014 – 13Aug-1415Q2
ASU 2014 – 14Aug-1415Q2
ASU 2014 – 15Aug-1415Q2
ASU 2014 – 16Nov-1415Q3
ASU 2014 – 18Dec-1415Q3
ASU 2015 – 01Jan-1515Q4
ASU 2015 – 02Feb-1515Q4
ASU 2015 – 03Apr-1516Q1
ASU 2015 – 04Apr-1516Q1
ASU 2015 – 05Apr-1516Q1
ASU 2015 – 06Apr-1516Q1
ASU 2015 – 07May-1516Q1
ASU 2015 – 09May-1516Q1
ASU 2015 – 10Jun-1516Q1
GASB 72Mar-1515Q4
GASB 73Jun-1516Q1
GASB 74Jun-1516Q1
GASB 75Jun-1516Q1
GASB 76Jun-1516Q1
Amendments to IAS 16 and IAS 38May-1415Q1
Amendments to IFRS 11May-1415Q1
Amendments to IAS 16 and IAS 41Jun-1415Q2
IFRS 9Jul-1415Q2
Amendments to IAS 27Aug-1415Q2
Annual Improvements to IFRSs 2012-2014 CycleSep-1415Q2
Amendments to IFRS 10 and IAS 28Sep-1415Q2
Amendments to IFRS 10, IFRS 12 and IAS 28Dec-1415Q3
Amendments to IAS 1Dec-1415Q3
SSARS 21Oct-1415Q3
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