CPACPA ExamCPA Exam Changes

October 2021 CPA Exam Changes


Starting today, October 1, the CPA Exam will have some small content changes to the Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Regulations (REG) sections of the exam. While the October 2021 CPA Exam changes are minor, there are some areas of change that are important to note. The changes are outlined below. 


Updated for SSAE No. 19, Agreed-Upon Procedures Engagements

SSAE No. 19  is the most important change on the exam to know.  The details of an agreed-upon procedures engagement may not be heavily tested, but it will definitely be tested in some manner. 

SSAE No. 19’s most notable changes include:

  • Eliminating the requirement to get an assertion from the responsible party
  • Allowing the practitioner to assist in developing the procedures as long as the engaging party acknowledges the appropriateness of the procedures prior to the issuance of the report
  • Allowing the procedures to be developed over the course of the engagement
  • Eliminating the requirement for intended users to take responsibility for the sufficiency of the agreed-upon procedures
  • Allowing a general-use report to be issued


Updated for ASU 2021-03, Intangibles—Goodwill and Other (Topic 350): Accounting Alternative for Evaluating Triggering Events

ASU 2021-03 provides an additional accounting alternative to help simplify and reduce the cost of goodwill accounting for private and not-for-profit entities. Under this new alternative, they can perform the required triggering event evaluation to test for impairment as of the end of the reporting period, rather than having to monitor for triggering events and performing such evaluations throughout the reporting period.


Updated for American Rescue Plan Act (ARPA)

ARPA has various minor changes that could be testable on the exam, such as:

  • Increasing the Child Tax Credit to $3,000 per child under age 18 and $3,600 per child under 6*
  • Increasing the Earned Income Credit limit for investment income to $10,000
  • Increasing the Child and Dependent Care Credit to $4,000 for one child and $8,000 for two or more*
  • Increasing the employer dependent care exclusion to $10,500*
  • Expanding the exclusion for discharge of indebtedness to cover qualified student loans

It’s important to note that updates denoted with an asterisk (*) are testable only from 10/1/2021 to 12/31/2021.

Of course, UWorld Roger CPA Review will continue to prepare our students to pass the CPA Exam on the first attempt. We update our course packages and accommodating materials to reflect any changes to the CPA Exam in order to ensure our students have the tools and knowledge they need to successfully pass the CPA Exam. For more information about CPA Exam changes, please visit our website.

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