CPA Exam Structure [2024]
- Published in: CPA
CPA Exam Structure [2024]
Table of Contents
CPA Exam Structure 2024
- To become a CPA in the U.S., candidates must pass the Uniform CPA Exam.
- The exam is set by the AICPA* and administered by NASBA*.
- The exam has three core sections that all candidates must take.
- Candidates must also choose one of three discipline sections,
- completing a total of four sections.
- AICPA - American Institute of Certified Public Accountants
- NASBA - National Association of State Boards of Accountancy
Exam Structure
Core Sections (All candidates must take these):
- Auditing and Attestation (AUD)
- Financial Accounting and Reporting (FAR)
- Regulation (REG)
Auditing and Attestation (AUD)
- Ethics, Professional Responsibilities, and General Principles: 15-25%
- Assessing Risk and Developing a Planned Response: 25-35%
- Performing Further Procedures and Obtaining Evidence: 30-40%
- Forming Conclusions and Reporting: 10-20%
Financial Accounting and Reporting (FAR)
- Conceptual Framework, Standard-Setting, and Financial Reporting: 25-35%
- Select Financial Statement Accounts: 30-40%
- Select Transactions: 20-30%
- State and Local Governments: 5-15%
Regulation (REG)
- Ethics, Professional Responsibilities, and Federal Tax Procedures: 10-20%
- Business Law: 15-25%
- Federal Taxation of Property Transactions: 5-15%
- Federal Taxation of Individuals: 22-32%
- Federal Taxation of Entities: 22-32%
Discipline Sections (Candidates choose one)
- Business Analysis and Reporting (BAR)
- Information Systems and Controls (ISC)
- Tax Compliance and Planning (TCP)
Business Analysis and Reporting (BAR)
- Business Analysis: 40-50%
- Current period/historical analysis
- Prospective analysis
- Technical Accounting and Reporting: 35-45%
- Revenue recognition
- Business combinations
- Consolidated financial statements
- Derivative and hedge accounting
- Leases
- Public company reporting topics
- State and Local Governments: 10-20%
Information Systems and Controls (ISC)
- Information Systems and Data Management: 35-45%
- Security, confidentiality, and privacy
- Considerations for System and Organization Controls (SOC) Engagements
- Internal controls
Tax Compliance and Planning (TCP)
- Federal Tax Compliance for Individuals and Entities: 55-65%
- Nonroutine transactions
- Higher complexity transactions
- Personal financial planning
- Tax Planning Strategies: 25-35%
Exam Format
Each section is 4 hours long. Candidates will encounter a mix of:
- Multiple-choice questions (MCQs)
- Task-based simulations (TBSs)
Breakdown of Questions
The Core sections consist of:
- AUD: 50% MCQs, 50% TBSs
- FAR: 50% MCQs, 50% TBSs
- REG: 50% MCQs, 50% TBSs
The Discipline sections have varying weights:
- BAR: 50% MCQs, 50% TBSs
- ISC: 60% MCQs, 40% TBSs
- TCP: 50% MCQs, 50% TBSs
Total Duration and Scoring
To become a licensed CPA, you must pass the CPA Exam, a four-section, 16-hour assessment.
- The total exam time across all sections is 16 hours.
- Each section is scored on a scale of 0 to 99,
- with a minimum passing score of 75 required for each section.
Time Limits
- Candidates must pass all four sections within a rolling window of 30 months,
- starting from the date they pass their first section.
- If they do not complete all sections within this timeframe,
- any passed sections will expire, requiring retaking those exams.