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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.

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.

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]

The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The institute provides a wide range of support services to more than 48 000 members and associates who are chartered accountants (CAs (SA)), as well as associate ...