[Anonymous]

I called the AICPA 2 days ago. They told me they would contact the CPA exam board directly concerning my question on if the old and new standards would be covered as of July or just the new. The AICPA called me back today. The guy I spoke to said the exam board told him directly that ONLY the new standards would be covered. I asked him to please put this in an email to me. I received the email this afternoon. Copy and pasted below.

Thank you for allowing us to be of service to you.

Subject

CPA Exam Inquiry

Response(Chelsea White)

06/05/2013 12:50 PM

RE: CPA Exam Inqiury

Reference Number: 2786988

Thank you for contacting the AICPA regarding your CPA exam inquiry.

In accordance with the AICPA Policy on New Pronouncements, the new Clarified Auditing Standards will be eligible for testing on the exam six months after their effective date. Most of the clarified standards are effective for audits of financial statements for periods ending on or after Dec. 15, 2012. Therefore, these standards will be eligible for testing beginning in the July-August 2013 testing window.

The new standards will be eligible for testing during your test window, so you will not be tested on the old standards.

You may review the CPA Exam Policy on New Pronouncements at the following link:

https://www.aicpa.org/BecomeACPA/CPAExam/ExaminationContent/NewPronouncementPolicy/Pages/new_pronouncements.aspx

We appreciate your time and look forward to serving you in the future.

Regards,

Chelsea White

AICPA Member Service

America Counts on CPAs

[pia ach]

Thanks CPA_Driven for sharing this information.

The exam policy link mentioned above has the following info – In this case, both the old and new pronouncements may be tested until the old pronouncement is superseded.

As per Becker the clarified SAS will fully replace the Old SAS likely by end of 2014, so it comes back to studying both the old and new. Or the dates mentioned by Becker is wrong? So very confused!

Finally done!!! Experience-pending. Ethics- Pending.
Reg 78 / 73/82.
Aud 74/89.
BEC 72 /78.
FAR 74/ 73/ 82.

[Anonymous]

What the AICPA contact said on the phone was that the exam board said that because most of the standard went into effect in December (the given six month interim has passed for MOST) that the exam board is not testing the old after July 1st. Keep in mind this came from the exam board and they're the ones who decide.

[jeff]

I also asked the AICPA directly – which resulted it being included in the newsletter.

Go with whatever you feel is best.

By the way – if I were wrong – they would probably contact me … like they've done before 😀

Jeff

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[memmy29]

I have a request for clarification into them as well…I'll post their response when I get it.

AUD-84, REG-75, BEC-84, FAR-77

Licensed CPA

CIA Exam
Part 1 - Passed
Part 2 - Passed
Part 3 - Passed

[jeff]

https://www.aicpa.org/BecomeACPA/CPAExam/ExamNewsletter/DownloadableDocuments/CPA-Exam-Alert-Spring-2013.pdf#page=3

As for upcoming changes, the most sweeping will be found in the Auditing and Attestation (AUD) section of the Exam. The ASB’s recently issued clarified U.S. Auditing Standards, effective for audits of financial statements for periods ending on or after Dec. 15, 2012, will be eligible for testing on the CPA Exam beginning in the third quarter of 2013.

The extant standards, which remain in effect for audits of financial statements ending before Dec. 15, 2012, also are eligible for testing on the CPA Exam while they remain in effect. During the period that both sets of standards are eligible for testing, only the clarified standards will be used for research questions

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[memmy29]

I would be hesitant to only study the new standards…

AUD-84, REG-75, BEC-84, FAR-77

Licensed CPA

CIA Exam
Part 1 - Passed
Part 2 - Passed
Part 3 - Passed

[jeff]

*If it were me*, I would know how the Clarity Standards tweaked the old standards (which I outline in the ninja materials…and your provider probably did too) and study your 2013 materials as planned.

They didn't re-write auditing. They made some terminology changes here and there and changed the audit report a little.

This isn't worth getting worked up over and sending emails and such.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[memmy29]

I passed AUD, but there is a chance I will lose it if I didn't pass FAR this window. I only have my Becker AUD 2011 book. Guess I'll be buying all new materials if that happens. 🙁

AUD-84, REG-75, BEC-84, FAR-77

Licensed CPA

CIA Exam
Part 1 - Passed
Part 2 - Passed
Part 3 - Passed

[Anonymous]

For me the email was very worth it. I'm no longer worried about what to study. I think everyone needs to feel good walking into the exam and so I agree whatever works for you. As for me I'm sticking to Becker version B and feeling really comfortable with that. I guess my exam score will tell how this worked for me. 🙂

[mangos]

Becker's update for Audit version B states otherwise:

Shows it will be tested throughout 2014.

Created with Compare Ninja

FAR (5/07/13): 96

[Author]

Replies