CPA Exam Pass Rates
The CPA Exam is widely recognized as one of the toughest yet achievable professional assessments. Passing it takes extensive study, consistent practice, and unwavering dedication. We’ll break down pass rates by year, section, candidate age, and university and provide insight into these numbers.
2024 CPA Exam Pass Rates
In 2024, we witnessed impressive performances in the core sections: Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Taxation and Regulation (REG). For example, the pass rates for REG are more than 63%. The pass rates for AUD and FAR in Q2 of 2024 are approximately 46%, and 41%, respectively. The discipline sections – Business Analysis and Reporting (BAR), Information Systems and Control (ISC), and Tax Compliance and Planning (TCP) – also have shown surprising results. Cumulative 2024 results show BAR stands at 41% and ISC and TCP with 56% and 78% respectively.
| Section | Q1 | Q2 | Cumulative | |||
|---|---|---|---|---|---|---|
| AUD | 44.63% | 46.58% | 45.71% | |||
| FAR | 41.92% | 40.58% | 41.16% | |||
| REG | 63.42% | 63.45% | 63.44% | |||
| BAR | 42.94% | 40.26% | 41.04% | |||
| ISC | 50.93% | 57.93% | 56.15% | |||
| TCP | 82.36% | 75.67% | 78.16% | |||
2023 CPA Exam Pass Rates
After each testing window, the American Institute of Certified Public Accountants (AICPA) publishes the overall pass rate percentages for the CPA Exam. Below is a breakdown of 2023’s quarterly pass rates by section. This information helps us to understand how CPA Exam changes affect applicant performance.
| Section | Q1 | Q2 | Q3 | Q4 | Cumulative | |
|---|---|---|---|---|---|---|
| AUD | 47.01% | 48.24% | 45.64% | 46.41% | 46.75% | |
| BEC | 56.98% | 59.16% | 54.90% | 38.17% | 47.44% | |
| FAR | 41.82% | 42.78% | 44.08% | 39.36% | 42.12% | |
| REG | 58.63% | 59.71% | 59.13% | 54.68% | 57.82% | |
Source: https://www.aicpa-cima.com/resources/article/learn-more-about-cpa-exam-scoring-and-pass-rates
CPA Exam Pass Rates by Prior Years
The cumulative pass rate of the CPA Exam has been around 50% for the last 3 years. Since 2022, pass rates have improved among all sections of the CPA Exam.
| CPA Exam | 2021 Pass Rates |
2022 Pass Rates |
2023 Pass Rates |
2024 Pass Rates* |
|---|---|---|---|---|
| AUD | 47.98% | 47.90% | 46.75% | 45.71% |
| BEC | 61.94% | 59.85% | 47.44% | N/A |
| FAR | 44.54% | 43.76% | 42.12% | 41.16% |
| REG | 59.88% | 59.85% | 57.82% | 63.44% |
| BAR | N/A | N/A | N/A | 41.04% |
| ISC | N/A | N/A | N/A | 56.15% |
| TCP | N/A | N/A | N/A | 78.16% |
| Overall Pass Rate | 53.59% | 52.84% | 48.53% | 54.27% |
*Pass rates available through Q2 2024.
CPA Exam Pass Rates by Section
Considering FAR as the toughest exam section, many students prepare for it first. But choosing to study for the most difficult or the easiest section first may not always be the most beneficial approach. As you consider your CPA Exam study schedule and the section you want to complete first, think about the time that each section will require to successfully pass the first time.
Auditing & Attestation (AUD)
In 2022, the AUD section of the CPA Exam had the second-lowest pass rate among the CPA Exam sections. While the material within the Auditing Exam contains fundamental concepts, students suggest that the questions are confusing, mainly because there could be more than 1 correct answer to each problem. While the AUD Exam is more theory-based in its questions, FAR and REG require more memorization.
| AUD CPA Exam Pass Rates | |
|---|---|
| 2019 | 51.01% |
| 2020 | 52.84% |
| 2021 | 47.98% |
| 2022 | 47.90% |
| 2023 | 46.75% |
| 2024* | 45.71% |
*Pass rates available through Q2 2024.
Business Environment & Concepts (BEC)
Historically, the average pass rate of BEC was the highest among all sections. One explanation could be that candidates generally chose to sit for this section of the exam last, narrowing the pool to those who have already successfully passed other parts. Please note that BEC is no longer a part of the CPA Exam. Instead of BEC, there are now 3 new discipline sections.
| BEC CPA Exam Pass Rates | |
|---|---|
| 2019 | 59.98% |
| 2020 | 65.56% |
| 2021 | 61.94% |
| 2022 | 59.85% |
| 2023 | 56.52% |
Financial Accounting & Reporting (FAR)
Candidates we’ve surveyed say that FAR is the most difficult section of the CPA Exam. It consistently has the lowest passing rate likely due to the large volume of information in the section and the need to fully understand concepts rather than simply memorize them. FAR is a comprehensive section that deals with financial management, government accounting, and fund accounting.
| FAR CPA Exam Pass Rates | |
|---|---|
| 2019 | 46.31% |
| 2020 | 49.98% |
| 2021 | 44.54% |
| 2022 | 43.76% |
| 2023 | 42.94% |
| 2024* | 41.16% |
*Pass rates available through Q2 2024.
Regulation (REG)
Students find the REG portion of the CPA Exam to be difficult to study because of the amount of non-accounting information covered, as it incorporates tax law and business law. It has the second-highest pass rate after BEC in 2023.
| REG CPA Exam Pass Rates | |
|---|---|
| 2019 | 56.34% |
| 2020 | 62.29% |
| 2021 | 59.88% |
| 2022 | 59.85% |
| 2023 | 57.82% |
| 2024* | 63.44% |
*Pass rates available through Q2 2024.
The growing success rate of the CPA Exam depends on how prepared candidates are, including what study materials they use, how they manage their time, and how much support they receive throughout their CPA journey.
Why Are CPA Exam Pass Rates Higher In Q2 And Q3?
CPA Exam pass rates depend on a lot of factors, which include the difficulty level of the exam and the preparedness of the candidates. However, when a candidate sits for the exam can largely influence their scores.
Q1 is an exceptionally busy season for tax accountants and working professionals, who might find it difficult to maintain a balance between studies and work. Candidates must also consider the fact that Q1 comes right after the busy Q4 holiday season. Recovery from those holidays could affect study schedules for many CPA candidates. Therefore, these 2 quarters have relatively lower pass rates.
Q2 is typically the time when college graduates are preparing to graduate from their academic institutions. They are in a study mindset, so Q2 candidates usually score well on the exam. Q3 allows candidates the entire summer to study, so passing rates have been consistently high. This is a major reason why Q2 and Q3 have higher pass rates and are the best time to sit for the CPA exam.
CPA Exam Pass Rates by University
NASBA releases reports on the top universities that have accounting programs. The report also contains the average CPA Exam pass rates by these top universities based on first-time candidates.
Here is the list of top 10 programs with the highest CPA Exam Pass Rates:
| Accounting Programs at Top 10 Universities | 2021 CPA Exam Pass Rate |
|---|---|
| University of Texas at Austin | 89.5% |
| Brigham Young University | 89.4% |
| Wake Forest University | 88.8% |
| Boston College | 88.3% |
| University of Michigan-Ann Arbor | 88.2% |
| University of Florida | 86.4% |
| University of Virginia | 84.8% |
| Texas A&M University | 82.9% |
| University of Wisconsin-Madison | 82.9% |
