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It consisted of four subject areas (sections) which were tested in five sittings: Auditing (3.5 hours); Business Law (3.5 hours); Accounting Theory (3.5 hours); and Accounting Practice (Part I & Part II; 4.5 hours each). Although Accounting Practice Parts I and II were given in separate sittings, the two scores were combined for grading purposes.

In 2022, the AICPA and the National Association of State Boards Accountancy announced that a new Uniform CPA exam would be released in 2024 as part of the CPA Evolution initiative.

The Uniform CPA Exam consists of the following sections: Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), Regulation (REG), and Business Environment Concepts (BEC). The CPA designation was first established in law in New York State on April 17, 1896. [16]

There are four stages of examinations with the CPA Institute; Formation 1 and 2 and Professional 1 and 2. Students must complete three years of training to apply for membership of the CPA. Training can take place in practice, industry or both. Students may first study for the CPA exams and obtain the required training at a later date.