Sit for AUD before the 2022 CPA Exam Changes


Starting January 1, 2022, the Auditing and Attestation (AUD) section of the CPA Exam will see the most extensive changes. Our experts highly recommend CPA candidates take the AUD exam section prior to this January in order to avoid these changes altogether. 

Start studying for AUD now! The last day to take the current AUD exam is December 31, 2021, which is quickly approaching. While the goal may seem lofty, passing AUD in this amount of time is achievable. In fact, if you follow the UWorld Roger CPA Review study planners, you could prepare for AUD in as quickly as 3 weeks.

This includes working through study materials, watching lectures, and going through practice questions and practice exams. It might seem impossible, but it is doable if you make it a priority. We highly recommend UWorld students take advantage of our personalized Study Planners to stay on the right course.

Right now is the best time to start your CPA Exam journey and reach your career goals faster in the new year. 

How Can I Quickly Pass AUD Before January 1st? 

If you want to quickly pass AUD by the end of the year, start thinking differently about how you approach the CPA Exam. Be sure that you are partnering with a CPA Review provider that doesn’t charge top dollar for insufficient materials. Ineffective learning models and a lackluster program simply will not help you pass the CPA Exam before the beginning of the year. 

Consider instead how UWorld Roger CPA Review has truly changed how students prepare and pass the CPA Exam.  We have designed a course experience focused on an Active-Learning Methodology so that our students are more engaged in their studies and ultimately master the CPA Exam concepts. Students in our course approach the CPA Exam with greater confidence because they truly understand the concepts they are studying, which eliminates the need for cramming or using weird memorization tactics that don’t work. By using our Active-Learning Methodology, you’ll have better retention of CPA Exam concepts on exam day.  

What Changes Are Happening on the AUD Exam?

The biggest changes to the 2022 AUD exam are outlined in the below summary.

SAS No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements, revise: 

  • The sample engagement letter  
  • The audit report for nonissuers. Various changes include: 
    • Reordering the report to be similar to a PCAOB audit report, which starts with the auditor’s opinion and is followed by the basis for the opinion section
    • Requiring a separate section in the report when substantial doubt about the entity’s ability to continue as a going concern exists
    • Expanding the auditor’s responsibility section of the report
    • Communicating key audit matters (KAMs) in the report (in a separate section) when the auditor is engaged to do so

SAS No. 135, Omnibus Statement on Auditing Standards, includes: 

  • Additional inquiries of the predecessor auditor regarding related party relationships/transactions and significant unusual transactions 
  • An additional inquiry of management and others regarding significant unusual transactions 
  • Additional examples of fraud risk factors 
  • Additional procedures to perform with respect to related parties 

SAS No. 137, The Auditor’s Responsibilities Relating to Other Information Included in Annual Reports, clarifies: 

  • The auditor’s responsibilities with respect to other information included in an annual report 
  • The definition of an annual report for such purposes

SAS No. 138, Amendments to the Description of the Concept of Materiality, revises the definition of materiality. 

SAS No. 139, Amendments to AU-C Sections 800, 805, and 810 to Incorporate Auditor Reporting Changes From SAS No. 134, updates the reporting requirements with regard to special purpose frameworks to align with the new audit report structure. 

SAS No. 140, Amendments to AU-C Sections 725, 730, 930, 935, and 940 to Incorporate Auditor Reporting Changes From SAS Nos. 134 and 137, revise the reporting requirements for the following types of engagements to align with the new audit report structure: 

  • GAAS integrated audits (ie, reporting on internal control in conjunction with a financial audit)  
  • Reviews of interim financial information  
  • Government compliance audits 

SAS No. 140 also requires separate sections in the report for other information, supplemental information, and required supplemental information. 

SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions:

  • Requires the accountant to determine materiality for the financial statements as a whole, and design and perform review procedures to address all material items  
  • Permits the expression of an adverse conclusion in a review engagement 
  • Requires the review report to include a statement that the accountant is independent

Are you ready to knock out the AUD Exam next month? UWorld Roger CPA Review has everything you need to jump-start the study process and conquer AUD now.  Think about how great you will feel having one section of the exam completed before the new year. You will be so glad you got a leg up on your CPA Exam journey, and one step closer to reaching your career goals.  

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