CPA Exam 2017:The Next Version of the Uniform CPA Examination

Joe Maslott, CPA, CGMASr. Technical Manager, Content Management

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Exam Launch

1April

2017

Exam Launch

American Institute of CPAs®

Practice Analysis

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American Institute of CPAs® The Uniform CPA Examination™ 4

Research Project Timeline

American Institute of CPAs® The Uniform CPA Examination™

Our Governance

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Board of Examiners

State BoardCommittee

Content Committee

Audit Subcommittee

(AUD)

Financial Accounting and

Reporting Subcommittee

(FAR)

Business Environment and Concepts Subcommittee

(BEC)

Regulation Subcommittee

(REG)

PsychometricOversight Committee

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Newly Licensed - Eligibility

EducationExperience

Examination*Ethics

*Certain states require a separate ethics assessment in addition to what is tested on the Exam.

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Newly Licensed

One who has:Fulfilled applicable jurisdiction requirementsKnowledge and skills typically possessed by a person withtwo years experience

Definition has remained consistent as basis for testing

AICPA / BOE aware many candidates first sit as students / upon graduationShould not / cannot impact standard established in terms of required knowledge and skills necessary for licensure

American Institute of CPAs® The Uniform CPA Examination™American Institute of CPAs® 8The Uniforrmm CPCPA A Examination™ 888

Maintained alignment with the profession

Focused on the knowledge and skills

required of newly licensed CPAs

Ensured validityand reliability

Practice Analysis Accomplishments

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Shift from Memorization to Critical Thinking

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Critical Thinking

Analytical Ability

Problem Solving

Professional Skepticism

Communication Skills

American Institute of CPAs® The Uniform CPA Examination™

Document Review Simulation

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American Institute of CPAs®

Exam Design

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Auditing and Attestation (AUD)

Business Environment and Concepts (BEC)

Financial Accounting and Reporting (FAR)

Regulation (REG)

Skill Allocation – Current Exam

50%Remembering and

Understanding

50%Application

50%Remembering and

Understanding

50%Application

50%Remembering and

Understanding

50%Application

50%Remembering and

Understanding

50%Application

Skill Allocation – Next Exam

Increased assessment of of higher order skills

30 – 40%Remembering and

Understanding

30 – 40%Application

15 – 25%Analysis

5 – 15%Evaluation

15 – 25%Remembering and

Understanding

50 – 60%Application

20 – 30%Analysis

10 – 20%Remembering and

Understanding

50 – 60%Application

25 – 35%Analysis

25 – 35%Remembering and

Understanding

34 – 44%Application

25 – 35%Analysis

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Auditing and Attestation (AUD)

Business Environmentand Concepts (BEC)

Financial Accountingand Reporting (FAR)

Regulation (REG)

Exam Section

72 MCQs (60%)6 TBSs (40%)

90 MCQs (60%) 7 TBSs (40%)

90 MCQs (60%)7 TBSs (40%)

72 MCQs (85%)3 Written Responses (15%)

CurrentExam

72 MCQs (50%)9 TBSs (50%)

62 MCQs (50%)5 TBSs (35%)

3 Written Responses (15%)

66 MCQs (50%) 9 TBSs (50%)

766 MCQs (50%)769

MCQs (50%)M66 M999 TBSs (50%)

NextExam

MCQ = Multiple-Choice QuestionTBS = Task-Based Simulation

American Institute of CPAs®

Exam Blueprints

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American Institute of CPAs®

Testing Time / Breaks

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Testing Time / Breaks

Total testing time is 16 hours1 hour added to BEC and REG

4 sections – 4 hours each

15-minute standardized breakDoes not count against time

Optional, timed breaks still allowed

American Institute of CPAs®

Exam Structure

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American Institute of CPAs® The Uniform CPA Examination™

Exam Structure with Breaks

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AUD Testlet 136 MCQs

Testlet 236 MCQs

Testlet 32 TBSs

BEC Testlet 131 MCQs

Testlet 231 MCQs

Testlet 32 TBSs

FAR Testlet 133 MCQs

Testlet 233 MCQs

Testlet 32 TBSs

REG Testlet 1Testlet 138 MCQs

Testlet 2Testlet 238 MCQs

Testlet 3Testlet 32 TBSs

Testlet 44 TBSs

Testlet 53 TBSs

Testlet 43 TBSs

Testlet 53 Written

Communication

Testlet 44 TBSs

Testlet 53 TBSs

Testlet 44

tlet 4esTBSs

Testlet 5Testlet 53 TBSs

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OPTIONAL BREAKS

American Institute of CPAs®

Exam Administration

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American Institute of CPAs® The Uniform CPA Examination™ 23The Uniform CPA Examination™ 23American Institute of CPAs®

As of Q2 2016, 40 additional days added to each window

Testing offered quarterly:• January 1 – March 10• April 1 – May 31*• July 1 – September 10• October 1 – December 10

*testing will close on May 31 during the Exam launch window in 2017

Testing Windows

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2017 Q2 (4/1 – 5/31)Standard Setting: 10 Weeks*

Score Release: August 14

2017 Q3 (7/1 – 9/10)Standard Setting: 10 Days

Score Release: September 22

2017 Q4 (10/1 – 12/10)Standard Setting: 10 Days

Score Release: December 22

Standard Setting & Score Release

*passing score to be set during this time

American Institute of CPAs® The Uniform CPA Examination™

Transition

Candidates may pass a combination of the current version of the Exam and the next version of the Exam to qualify for licensure

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American Institute of CPAs® The Uniform CPA Examination™ 26AmAmAmAmAmAmAmAmmmmererererererericiciciciciciccccaanananananaa Instituteeeteeeeeeee oooooooooofff ff fffffff CPCPCPCCCPCPCCPCPCCPPCPPPCPCPAsAAsAsAsAsAAAsAsAssAs®® Thhe UnUUnififforormm CCPPAA A ExExaamminnattioionn™™ 266

Cost increase in 2016Result of extra hour

for BEC and REG

Consult NASBA and local state board of accountancy

for information

Exam Fees

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Beyond the Launch

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American Institute of CPAs® The Uniform CPA Examination™

User Experience Redesign

Coming in 2018

Refreshed user experience

Modernized design

Optimized for 23” HD monitors

Enhanced ADA support

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American Institute of CPAs® The Uniform CPA Examination™ 29American Institute of CPAs®®®®®® ThTTT e Uniform CPPPPAAAA ExExExamamiinin tatioioonn™™™ 2929299999

Excel to be added in 2018When supporting software

is available

Not testing Excel skills

Microsoft Excel

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Expanding professional skepticism & judgment into audit simulations

Expanding data analytics & analysis skills (including Excel or other tools)

Enhancing communication, analysis and interpretation in simulations with open-ended cases

Future Candidate Assessment

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Exam Resources

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aicpa.org/nextcpaexam

aicpa.org/nextcpaexam

American Institute of CPAs® The Uniform CPA Examination™

aicpa.org/nextcpaexam

34The Uniform CPA Examn Institute of CPAs®

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