Exam Name: Audit & Insurance
Certification Provider: CPA
Corresponding Certification: Certified Public Accountant
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As always, We recommend a combination of hands-on experience, completion of the training course, and self-study in the areas described in the Exam Outline section of this exam guide as preparation for this exam. After all sorts of study, test your understanding by taking the CPA practice exams. Hover on to AICPA's Website and take a look at study materials provided for the exam. Check for the topics mentioned in the Exam Outline section of this guide to review the online documentation, tip sheets, and user guides and study the details relevant to those topics. Refer to the links at the end of this document for more study material.
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Many accountants joining the profession are curious about the advantages of being a certified public accountant (CPA) so that they can determine if the time and energy to undertake this achievement are worth devoting. The certification process may undoubtedly be rigorous and difficult, but for those employed in industry or finance, success offers some notable advantages. In the US, several states have their board that regulates the certification in their jurisdiction of public accountants.
The qualification process helps both new and seasoned accountants to test their qualifications, develop their abilities, and enhance their understanding of the overall discipline. Via their local state board, prospective applicants can learn more about the licensing process specifics and visit the NASBA website for information about the standardized CPA test. The growing demand for CPAs across the job market is motivated by many factors, so the trend is likely to continue in the near future. Accountants winning their CPA earn 10 percent more on average than non-CPA colleagues and have more chances to grow their careers. In job searching, being a CPA can also be a big boon as it shows professional dedication and makes the candidate stand out from others. Among several other specialist fields, CPA certification demonstrates qualification for auditing, business strategy, bookkeeping, and forensic accounting. Becoming accredited opens the doors to hundreds of various career paths and is essential for foreign positions in particular.
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CPA AA Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Employability and Technology Skills | - Presentation of information and responses - Use of computer technology in the exam and workplace |
| Topic 2: Review and Reporting | - Audit finalisation and auditor's report - Going concern evaluation - Subsequent events - Written representations |
| Topic 3: Audit Framework and Regulation | - Corporate governance - Concept of audit and other assurance engagements - Professional ethics - External audit and regulatory environment |
| Topic 4: Audit Evidence | - Work of others (experts, internal auditors) - Audit procedures and sampling - Audit of specific items - Financial statement assertions and audit evidence |
| Topic 5: Internal Control | - Internal audit role - Internal control systems - Tests of control - Evaluation of control systems |
| Topic 6: Planning and Risk Assessment | - Obtaining and accepting audit engagements - Understanding the entity and its environment - Assessing audit risks - Audit planning and documentation |
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