HYDERABAD: Soon, students planning to pursue the US certified public accountants (CPA) examination will be assessed on technological aptitude following decisions taken by the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Professional Accountants (AICPA).
The NASBA and AICPA are the nodal agencies that conduct the CPAs exam that enables candidates to pursue finance and auditing with several US-based companies. The US CPA is set to undergo several curriculum and evaluation changes that will give larger flexibility to students from 2024.
Among them, technological aptitude is being given priority wherein the newly-licensed CPAs will possess knowledge on data analytics. “The curriculum is set to be tech-driven wherein accounting will not be limited to just gathering information and auditing.
Accountants will be expected to develop technological dashboard that will help them to analyse the data. It will not be about just recording entries but also coming up with insights using technology,” said Sripal Jain, co-founder of Simandhar Education, who was recently invited by NASBA in US to discuss the recent changes.
In addition to this, the new exam will also allow a professional to select which specialization they want. Three sections that comprise the core of the exam will test skills and knowledge in auditing, accounting and tax, with a recognition of the impact technology has on these areas. “The core-and-discipline model enables candidates to focus on areas that are of either special interest to them or their employer. As the profession evolves, it gives us a greater flexibility,” said Mike Decker, the AICPA’s vice-president (examination and pipeline).
A draft blueprint of the remodelled examination will be released by June 2022 for exposure and comments. A final blueprint is scheduled to be published at the beginning of 2023 with the exam launch date targeted for January 2024.
