CPA Exam Changes for 2021: Here’s What You Need to Know

CPA Exam Changes for 2021 | CPA Exam Changes for 2021: Here’s What You Need to Know | If someone is planning to take the CPA exam in 2021, they need to know what changes to expect. The testable content included in the CPA exam is dynamic. This is because of the ever-changing nature of the accounting industry.

The AICPA makes updates to the content on the CPA exam regularly to ensure those taking the test fully understand the most updated skills and concepts that modern accountants should possess. Knowing the cpa exam changes 2021 is essential and is outlined on the CPA Exam Blueprints.

When Will the Changes Occur?

The AICPA has already released the new CPA Exam Blueprint for 2021. The changes that have been made will be seen in the exam on July 1, 2021.  Get to know some of the changes to expect here.

Increased Focus on Business Processes

In the AUD section, the most significant change will relate to an increase in testing business processes that will help inform the development of auditing procedures. This newly revised AUD section is going to look more in-depth in relation to business transactions and processes that go through them. This will include a focus on the IT systems and the controls, as well as any manual controls.

In the BEC section, there are changes related to business processes too. There is new content that focuses on business processes and transaction level controls and risks, which will be testable. The questions in this section are focused on various aspects of technology that help facilitate the business processes.

In-Depth Content on Digital Skillsets and Data Analytics

Based on the information that has been released, the AUD blueprint is not going to include additional testing for digital skillsets. This is set to include testing of audit data analytics, which includes asking test takers to show their ability to analyze the results of audit data analytical procedures and to find anomalies. Also, there is revised content focused on using audit data analytics and automated tools in the audit sampling process.

In the BEC section, it will be more focused on working directly with data, which includes questions on data relationships and data governance, along with how to transform and extract data. For both the BEC and the AUD, students need to be ready to handle task-based simulations that are designed to evaluate the nICPA’s data analytics abilities.

Know the Updates to Pass the CPA Exam

When it comes to the CPA exam, it is necessary for those taking it to fully understand the updates that are being made. This is going to help ensure they are prepared for the questions asked and that they will have the skills and abilities to handle the test when it is time for them to take it. Be sure to keep the information here in mind as it provides a good overview of the changes that have been made.

When it comes to the CPA exam, it is necessary to be prepared. If someone does not know the latest changes that have occurred, it is virtually impossible to be prepared, which is where the information above comes in. It can prove invaluable and help ensure the desired outcome for a CPA exam is achieved, regardless of when a person takes the CPA exam.