CPA Exam Changes 2011

In 2011, the Certified Public Accounting exam underwent some major changes to the structure and scoring process. The allotted test time is one of the CPA exam changes 2011. The Auditing exam is now 30 minutes shorter, while the Business Environment and Concepts exam gains 30 minutes.

Scoring weights

On the new CPA exam, the CPA exam changes 2011 have affected the scoring weights. The multiple choice questions for the AUD, REG and FAR sections are weighted differently than they were before. Instead of accounting for 70% of the score, they will be weighted at 60%. Simulation questions go from 20% to 40% and written communication has gone from 10% to 15% weight. The BEC exam’s multiple choice questions have changed from a 100% to 85% weight.

More subtle changes were implemented in July 2011, though not as life changing as the updates that took place in January.

Here are a summary of the changes that were effective as of July 1, 2011:

AUD	International Auditing Standards (ISAs)
BEC	International Standards for the Professional Practice of Internal Auditing COBIT (The Control Objectives for Information and related Technology)
FAR	Regulation S-K of the Code of Federal Regulations Codification of Statements on Auditing Standards AU Section 623, Special Report FASB Concept Statements GASB Concept Statements IFRS Framework
REG	Removed: AICPA Code of Professional Conduct Removed: AICPA Model Tax Curriculum Public Law 86-272 Uniform Division of Income for Tax Purposes Act (UDITPA) Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

The reason they have made so many CPA exam changes 2011, is so that they can develop better simulations and have faster score reporting. Score reporting has been the biggest source of frustration for CPA candidates and with the newer, faster score reporting, candidates will receive their CPA exam score in a timelier fashion.

It is unknown whether the exam changes have made the exam more difficult or less difficult. Judging by the pass rates, it looks as though the CPA exam has not changed in terms of difficulty.