NASBA announced that they have extended the time to sit and pass the CPA exam from 18 months to 30 months after receiving over 850 comment letters. The original proposal was an increase to 24 months. In addition, the window is based on the date scores are released and not when the candidate sat for the exam. A big caveat is that NASBA has only changed the model rule. It is now up to the 55 State Boards of Accountancy to make changes at the state level.
The AICPA has issued the final blueprints for the new CPA exam which will launch in 2024. Based on the comments received in the exposure draft phase, the AICPA made updates and tweaks to the proposal and has issued the final blueprints.
NASBA is proposing changes to Rule 5-7 Retake and Granting of Credit Requirements related to the CPA exam. The date from which credit is calculated varies among the jurisdictions and with upcoming changes to the exam, NASBA is looking to streamline and provide for potential delays that may come out of the changes. Comments are due December 12, 2022.
As NASBA gets ready to transition the CPA exam to its new format, current students were eager to know what happens if a part they passed changes and how that would be considered for the new exam. Thankfully, NASBA has issued a very easy to understand transition model for students. The new exam is set to launch in 2024!
The AICPA is in the process of updating the CPA exam and is looking for CPAs to give them feedback as to whether their plan meets the needs of the profession. The survey should take 20 – 25 minutes to complete but will provide useful feedback to the AICPA and NASBA on how to proceed with their plan to launch a new CPA exam in 2024. Survey closes September 7.
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