Every year, CPA exam candidates need to be aware of changes to the CPA exam. If you have one section that you still haven’t passed and are slated to write the exam in the new year, you need to take note of the changes. In recent years there has been a lot more changes to the CPA exam than in years past.
So what are the Audit Exam Changes in 2018?
The good news is that there are no new study modules for 2018.
The bad news is that the AUD exam will still have some changes.
There has been some wording changes that you need to be aware of. You can find a list of all the blueprints on the AICPA site.
Here is an example of the wording changes for the 2018 AUD exam:
- Task statement changed to read as follows: Perform a walkthrough
and document the flow of transactions relevant to an audit of an
entity’s financial statements, including an audit of an entity’s internal
controls. - Task statement changed to read as follows: Perform tests of the
design and implementation of internal controls relevant to an audit of
an entity’s financial statements, including an audit of an entity’s
internal controls. - Task statement changed to read as follows: Identify and document
the key controls within the flow of an entity’s transactions relevant to
an audit of an entity’s financial statements, including an audit of an
entity’s internal controls. - Task statement changed to read as follows: Evaluate whether
internal controls relevant to an audit of an entity’s financial
statements, including an audit of an entity’s internal controls are
effectively designed and placed in operation.
The AUD exam will have some contents changes for 2018.
The two major areas are:
SAS 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (AU-C 570)
***These changes will be eligible for testing starting on January 1, 2018
SAS 133, Auditor Involvement With Exempt Offering Documents (Amends AU-C 560 and 925)
***These changes will be eligible for testing starting on July 1, 2018
If you have purchased the AUD materials for 2017, you can request the 2018 update in mid-January 2018.