The AICPA’s Update to Data Analytics in AUD
On January 9, 2019, the AICPA released new CPA Exam Blueprints effective July 1, 2019. Although the new blueprints are not effective until July 2019, the AICPA emphasized that all of the revisions included in this revision of the blueprint expand upon the existing blueprint, but do not significantly change the content already eligible for testing.
Here is a summary of what changed in each section:
Auditing and Attestation (AUD)
The blueprint added detail regarding audit data analytics. Per the AICPA, “The audit data analytics concepts addressed in the revisions are covered by the existing AUD Blueprint and are currently eligible for testing.”
Business Environment and Concepts (BEC)
The blueprint reorganized and expanded the section regarding information technology (IT). Per the AICPA, “The revisions are not intended to significantly change the content eligible for testing in the BEC section.”
The blueprint updated the introduction to be clear that when necessary, the CPA exam will use real dates so candidates can determine the appropriate tax treatment. Absent a specific indication of timing, candidates should assume transactions occurred in the current year and apply the most recent provisions of the tax law eligible for testing. The blueprint also included minor wording clarifications to three representative tasks. Per the AICPA, “The revisions clarify the REG Blueprint and do not change the nature and scope of content eligible for testing in the REG section.”
Financial Accounting and Reporting (FAR)
As always, Becker will be using this new information from the AICPA to improve our course and continue to help our students pass the exam. Candidates should be aware that these changes are not significantly changing the nature or scope of content currently eligible for testing on the CPA exam.