New CPA Exam
The AICPA decided to open their exam process up to public comment, as long as the member of the public who decides to comment has their CPA license.
This is a big change for the exam which traditionally has only remained relevant thanks to the efforts of the exam division at the AICPA. With business strategies changing quickly in the modern era, it is imperative that the accounting world stays up to speed. One way to do that is to make sure the exam that licenses CPA hopefuls maintains a close watch on what skills and knowledge is necessary for success in the real world of accounting and test for those attributes.
It seems that the AICPA feels the best way to stay up to date with the goings-on in the world of accounting is to allow current licensed CPAs to provide insight into what topics and skills should be tested on future exams. This is being rolled out as a sort of test of the “crowd-sourcing test material” strategy. It has not been widely used anywhere else to date so it is exciting to see the AICPA take the plunge into slightly unknown waters!
Hopefully, this test will work well and the program will expand in the future!