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CPA Auditing and Attestation Exam curriculum

CPA Auditing and Attestation Exam curriculum

CPA Auditing and Attestation Exam curriculum : Continuing professional education (CPE) is also required to maintain licensure. Individuals who have been awarded the CPA but have lapsed in the fulfilment of the required CPE or have requested to be converted to inactive status are in many states permitted to use the designation “CPA Inactive” or an equivalent phrase. In most U.S. states, only CPAs are legally able to provide to the public attestation (including auditing) opinions on financial statements. Many CPAs are members of the American Institute of Certified Public Accountants and their state CPA society.

State laws vary widely regarding whether a non-CPA is even allowed to use the title accountant. To illustrate, Texas prohibits the use of the designations “accountant” and “auditor” by a person not certified as a Texas CPA, unless that person is a CPA in another state, is a non-resident of Texas, and otherwise meets the requirements for practice in Texas by out-of-state CPA firms and practitioners.

CPA Auditing and Attestation Exam curriculum : CPA FUNCTION

The primary functions performed by CPAs relate to assurance services. In assurance services, also known as financial audit services, CPAs attest to the reasonableness of disclosures, the freedom from material misstatement, and the adherence to the applicable generally accepted accounting principles (GAAP) in financial statements. CPAs can also be employed by corporations—termed “the private sector”—in finance functions such as Chief Financial Officer (CFO) or finance manager, or as CEOs subject to their full business knowledge and practice. These CPAs do not provide services directly to the public.

Although some CPA firms serve as business consultants, the consulting role has been under scrutiny following the Enron scandal where Arthur Andersen simultaneously provided audit and consulting services which affected their ability to maintain independence in their audit duties. This incident resulted in many accounting firms divesting in their consulting divisions, but this trend has since reversed. In audit engagements, CPAs are (and have always been) required by professional standards and Federal and State laws to maintain independence (both in fact and in appearance) from the entity for which they are conducting an attestation (audit and review) engagement. However, most individual CPAs who work as consultants do not also work as auditors.

CPAs also have a niche within the income tax return preparation industry. Many small to mid-sized firms have both a tax and an auditing department. Along with attorneys and enrolled agents, CPAs may represent taxpayers in matters before the Internal Revenue Service.

Whether providing services directly to the public or employed by corporations or associations, CPAs can operate in virtually any area of finance including:

  • Assurance and attestation services
  • Corporate finance (merger and acquisition, initial public offerings, share and debt issuings)
  • Corporate governance
  • Estate planning
  • Financial accounting
  • Governmental accounting
  • Financial analysis
  • Financial planning
  • Forensic accounting (preventing, detecting, and investigating financial frauds)
  • Income tax
  • Information technology, especially as applied to accounting and auditing
  • Management consulting and performance management
  • Tax preparation and planning
  • Venture Capital
  • Financial reporting
  • Regulatory reporting

And Bout the Regulation format and other details you can get here.

CPA Auditing and Attestation Exam curriculum: Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. In the United States, the CPA is a license to provide accounting services directly to the public. It is awarded by each of the 50 states for practice in that state. Additionally, almost every state (49 out of 50) has passed mobility laws in order to allow practice in their state by CPAs from other states. Although state licensing requirements vary, the minimum standard requirements include the passing of the Uniform Certified Public Accountant Examination, 150 semester units of college education, and one year of accounting related experience.

Continuing professional education (CPE) is also required to maintain licensure. Individuals who have been awarded the CPA but have lapsed in the fulfillment of the required CPE or have requested to be converted to inactive status are in many states permitted to use the designation “CPA Inactive” or an equivalent phrase. In most U.S. states, only CPAs are legally able to provide to the public attestation (including auditing) opinions on financial statements. Many CPAs are members of the American Institute of Certified Public Accountants and their state CPA society.

 CPA Auditing and Attestation Exam curriculum

State laws vary widely regarding whether a non-CPA is even allowed to use the title accountant. To illustrate, Texas prohibits the use of the designations “accountant” and “auditor” by a person not certified as a Texas CPA, unless that person is a CPA in another state, is a non-resident of Texas, and otherwise meets the requirements for practice in Texas by out-of-state CPA firms and practitioners.

CPAs also have a niche within the income tax return preparation industry. Many small to mid-sized firms have both a tax and an auditing department. Along with attorneys and enrolled agents, CPAs may represent taxpayers in matters before the Internal Revenue Service.

Whether providing services directly to the public or employed by corporations or associations, CPAs can operate in virtually any area of finance including:

  • Assurance and attestation services
  • Corporate finance (merger and acquisition, initial public offerings, share and debt issuings)
  • Corporate governance
  • Estate planning
  • Financial accounting
  • Governmental accounting
  • Financial analysis
  • Financial planning
  • Forensic accounting (preventing, detecting, and investigating financial frauds)
  • Income tax
  • Information technology, especially as applied to accounting and auditing
  • Management consulting and performance management
  • Tax preparation and planning
  • Venture Capital
  • Financial reporting
  • Regulatory reporting

Regulation CPA Exam Details with all the syllabus and other things that are require to get prepared for the exam. 

CPA Auditing and Attestation Exam curriculum

  • Listen to his lecture to put you in the right frame of mind
  • Reread the section in the book and do the questions
  • Do Roger’s homework questions and expect to learn a lot from this (i.e. not to get all the answers correct)
  • Do TBSs on exam software
  • Take notes the whole time, and then reread them and rewrite them
  • Do software MCQs on the subject areas already completed.  Then during your final 2 weeks before the exam, review all the notes and do all the TBSes again plus a couple practice exams and you’re set to go and pass the exam!

CPA Auditing and Attestation Exam curriculum

CPA Auditing and Attestation Exam curriculum: You will get all the information here. Here is the list of all required information you need for the regulation exam. 

The exam is divided into four part and this is one of the crucial part of the exam. you need to get passed to get it done based on that you can appear for the next exam or you can say the next section of the exam. More importantly you are accruing the knowledge for getting to the next level of the exam.

15-25% Ethics, Professional Responsibilities and General Principles

  • Nature and Scope of Audit and Non-Audit Engagements
  • Ethics, Independence and Professional Conduct
  • Terms of Engagement for Audit and Non-Audit Engagements
  • Requirements for Engagements Documentation
  • Communication with Management and Those Charged with Governance
  • Communication with Component Auditors and Parties Other Than Management and Those Charge with Governance
  •  A Firm’s System of Quality Control, Including Quality Control at the Engagement Level

20-30% Assessing Risk and Developing a Planned Process

  • Planning an Engagement
  • Understanding an Entity and Its Environment
  • Understanding an Entity’s Internal Control
  • Assessing Risks Due to Fraud
  • Identifying and Assessing the Risk of Material Misstatement and Planning Further Procedures Responsive to Identified Risks
  • Materiality
  • Planning for and using the Work of Others, Including Group Audits, the Internal Audit Function and the Work of a Specialist
  • Specific Areas of Audit Risk

30-40% Performing Further Procedures and Obtaining Evidence

  • Understanding Sufficient Appropriate Audit Evidence
  • Sampling Techniques
  • Performing Specific Procedures to Obtain Evidence
  • Specific Matters that Require Individual Attention
  • Misstatements and Internal Control Deficiencies
  • Written Representations
  • Subsequent Events and Subsequently Discovered Facts

15-25% Forming Conclusions and Reporting

  • Reports On Auditing Engagements
  • Reports On Attestation Engagements
  • Accounting and Review Service Engagements
  • Reporting On Compliance
  • Other Reporting Considerations

70-76% Auditing Engagements and Standards

  • Engagement Acceptance and Understanding
  • Understanding the Entity, its Context, and its Internal Control
  • Audit Procedures and Evidence Evaluation
  • Audit Reports and Opinions

16-20% Professional Responsibilities

  • Ethics
  • Independence

12-16% Accounting & Review Services

  • Engagement Planning
  • Evidence
  • Reports

CPA Auditing and Attestation Exam curriculum

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