Understand upcoming CPA exam changes
Exam launch date: January 2024
The CPA profession is always moving forward, adopting new technologies, skills and best practices. The job requirements of CPAs today are completely different from those of 10 years ago.
As the profession evolves, so are the skills necessary to be a CPA.
The AICPA and NASBA are adapting the CPA licensure model to recognize the evolving skills and competencies required of CPAs today and in the future.
2024 CPA Exam Evolution: Core-Plus-Discipline Model
The new CPA licensure model requires CPA candidates to be skilled in accounting, auditing and tax. These sections will remain as core, required subjects. Technology questions will be spread throughout these sections.
In addition to the core exam sections (accounting, auditing and tax), CPA candidates will need to select and pass one of the following three discipline sections:
- Business Analysis and Reporting (BAR) – Assurance or advisory services, financial statement analysis and reporting, technical accounting, and financial and operations management
- Information Systems and Controls (ISC) – Assurance or advisory services related to business processes, information systems, information security and governance, and IT audits
- Tax Compliance and Planning (TCP) – Advanced individual and entity tax compliance.
Transition Policy for 2024 CPA exam
Candidates who have credit for AUD, FAR, or REG on the current CPA exam will not need to take the corresponding new core section of AUD, FAR, or REG on the 2024 CPA exam. Candidates who have credit for BEC on the current CPA exam will not need to take any of the three discipline sections.
The exam transition strategy strives to make it as easy for candidates to migrate from portions of the old exam to the evolved exam.
Mark your calendars for this important transition dates:
Nov. 15, 2023: Final date to register for BEC
NASBA to cease processing Authorizations to Test and Notices to Schedule for BEC.
Nov. 22, 2023: Candidates can apply to sit for new exam sections
NASBA to begin processing Authorizations to Test and Notices to Schedule for BAR, ISC and TCP. Codes for AUD, FAR and REG will not change in 2024. Therefore, candidates can continue to apply for these sections and have their applications processed and approved. Testing blackout dates do apply, however.
Dec. 15, 2023: Final day of testing for all CPA exam sections
Candidates are not allowed to sit for the current CPA exam past this date.
Dec. 16, 2023 – Jan. 9, 2024: CPA exam blackout dates; no testing allowed
This testing closure allows for IT systems to convert to new CPA exam sections.
Frequently asked questions
Does the discipline I choose impact my license?
No. The CPA license issued will be the same regardless of the discipline the candidate passes.
When do the 2024 exam changes take effect?
The new CPA exam will launch in January 2024.
What will the format be like in the new CPA exam?
The exam is expected to remain in the four-section, 16-hour format.
Will there be a credit extension for passed exam sections?
The Minnesota Board of Accountancy approved an 18-month credit extension that addresses testing limitations and scoring delays ahead of January 2024. Candidates with passing scores in Jan. 1, 2024, will have their credits automatically extended to June 30, 2025.
Contact the MNCPA membership team at 952-831-2707 or firstname.lastname@example.org with questions about the CPA exam.