Essential CPA Exam Schedule: Key Dates and Testing Windows

For anyone planning to sit for the Certified Public Accountant (CPA) exam, understanding the CPA exam schedule and structure is key to efficient preparation. The CPA exam is a rigorous, computer-based assessment that tests CPA candidates on their accounting knowledge and related professional skills. This guide will walk you through the essential aspects of the CPA exam schedule, including key dates, fees, CPA exam sections, and more, to help you effectively prepare.

Understanding the CPA Exam

Before we delve into the details of the CPA exam schedule, it’s essential to understand the structure and content of the exam itself.

Overview of the CPA Exam

The CPA exam is a computer-based exam that tests CPA candidates’ knowledge and skills in accounting, auditing, taxation, and business concepts. It is administered jointly by two organizations:

• National Association of State Boards of Accountancy (NASBA): NASBA handles the logistics of the exam, including candidate registration, scheduling, and score reporting.
• American Institute of Certified Public Accountants (AICPA): AICPA is responsible for developing and updating the exam’s content to reflect current accounting practices.

The CPA Exam Structure: Core and Discipline Sections

The CPA exam now includes core sections and new discipline sections, offering candidates more flexibility to tailor their exam experience to their career goals. The exam is divided into the following:

Core Sections:

• Auditing and Attestation (AUD): Focuses on auditing standards, procedures, and ethics.
• Financial Accounting and Reporting (FAR): Tests financial reporting frameworks used by businesses, nonprofits, and governmental entities.
• Regulation (REG): Covers federal taxation, ethics, and business law.

Discipline Sections:
Candidates choose one of the following advanced sections based on their professional interests:

• Business Analysis and Reporting (BAR): Focuses on financial planning, analysis, and reporting, with emphasis on data analytics and business reporting frameworks.
• Information Systems and Controls (ISC): Tests knowledge in IT governance, risk management, cybersecurity, and information systems controls.
• Tax Compliance and Planning (TCP): Covers advanced taxation topics, including tax compliance, planning strategies, and advising on federal tax matters.

This new structure allows candidates to demonstrate mastery of core accounting principles while specializing in a discipline aligned with their career aspirations.

Each section is scored on a scale from 0 to 99, with a minimum passing score of 75. Candidates must pass all four sections within an 18-month period.

The CPA Exam Schedule

The CPA exam scheduling process is essential for candidates to manage their exam journey effectively. The process can be done either online or by phone through NASBA’s CPA Examination Services (CPAES).

CPA Exam Scheduling Process

1. Meet State Board Requirements: Before you can register for the exam, you must meet the requirements set by your state board of accountancy. This typically includes educational qualifications (e.g., a bachelor’s degree with a specific number of accounting and business-related credit hours) and, in some cases, work experience.
2. Authorization to Test (ATT): After meeting state board requirements, you will receive an Authorization to Test (ATT). Once you receive the ATT, you have 90 days to choose which section of the exam you want to take and apply to sit for it.
3. Notice to Schedule (NTS): After applying, you will receive a Notice to Schedule (NTS), which allows you to schedule your exam date and location. The NTS is a critical document that you need to sit for the exam, and it is valid for a period that varies depending on your jurisdiction (typically between 6 to 12 months).
4. Scheduling with Prometric: Once you have your NTS, you can schedule your exam date at a Prometric testing center, either online or by phone. Scheduling early is recommended as testing centers can fill up, especially during peak exam times.

The Transition to Continuous Testing for the CPA Exam

The CPA exam now follows a continuous testing model, which allows candidates to schedule and take their exams year-round without having to wait for specific testing windows or blackout periods. Previously, the exam was only available during limited testing windows throughout the year, and candidates had to plan around blackout months, when the exam was unavailable due to system updates or administrative tasks.

With continuous testing, candidates can retake a section as soon as their scores are released, offering more flexibility and significantly reducing the wait time between attempts.

This model eliminates blackout months, providing greater convenience and enabling candidates to schedule their exams at nearly any time during the year. This flexibility is especially beneficial for those balancing work, study, and personal commitments. The continuous testing system is designed to accommodate the diverse schedules of CPA candidates, giving them more control over when and how they complete their exams, ultimately providing more opportunities to succeed on their own timeline.

CPA Exam Sections and Content

The CPA exam is divided into four key sections: The core sections of Financial Accounting and Reporting (FAR), Auditing and Attestation (AUD), Regulation (REG), and one Discipline Section. Each section tests specific areas of accounting knowledge, ensuring that candidates are well-rounded in their understanding of both foundational and specialized accounting practices.

Financial Accounting and Reporting (FAR)

The FAR section covers a wide range of topics related to financial reporting. It is known for being one of the most challenging sections due to the breadth of content. Candidates are tested on:

• Financial Statements: Preparation and presentation of financial reports for businesses, non-profits, and government entities.
• Governmental Accounting: Specific standards and practices for reporting in governmental entities.
• Non-Profit Accounting: Financial reporting for non-profit organizations, including accounting for grants and contributions.
• International Accounting Standards: Application of International Financial Reporting Standards (IFRS) in financial reporting.

This section includes a mix of multiple-choice questions (MCQs) and task-based simulations (TBSs) that require applying financial accounting concepts to real-world scenarios. Successful candidates typically focus their study on mastering accounting standards and preparing financial statements.

Auditing and Attestation (AUD)

The AUD section focuses on audit practices and professional ethics. It evaluates a candidate’s ability to understand and perform auditing procedures, assess risks, and follow the professional responsibilities outlined by auditing standards. Key topics include:

• Audit Procedures: The methods used to gather and evaluate evidence during an audit.
• Ethics and Professional Responsibilities: Ethical standards and professional conduct for auditors.
• Internal Controls: Understanding and evaluating internal control systems to ensure accuracy in financial reporting.

Candidates in the AUD section must be proficient in analyzing auditing scenarios and applying audit procedures, with both examination questions and task-based simulations.

Regulation (REG)

The REG section assesses candidates on their knowledge of federal taxation, business law, and professional ethics. It covers various areas of regulation, including:

• Federal Taxation: Taxation for individuals, corporations, and partnerships.
• Business Law: Legal principles related to contracts, sales, and other business transactions.
• Ethics and Responsibilities: Professional ethics, particularly as they relate to tax practice and legal compliance.

In addition to testing questions, task-based simulations in REG require candidates to apply their tax knowledge to complex, real-world problems.

Discipline Section

Candidates must also choose a Discipline Section based on their area of specialization. The three available disciplines are:

1. Business Analysis and Reporting (BAR): Focuses on financial analysis, reporting for public companies, and data analytics. It is ideal for candidates aiming for roles in financial reporting or advisory services.
2. Information Systems and Controls (ISC): Emphasizes IT governance, cybersecurity, and internal control systems. This discipline is suited for candidates interested in IT auditing or risk management.
3. Tax Compliance and Planning (TCP): Tests candidates on advanced tax planning strategies, compliance regulations, and tax law for individuals and businesses. This section is ideal for those pursuing a career in taxation or consulting.

Each Discipline Section includes a combination of exam questions and simulations designed to test the candidate’s expertise in their chosen area.

CPA Exam Internationally

For candidates residing outside the United States, taking the CPA exam is still possible thanks to international CPA exam testing centers. The AICPA and NASBA have partnered with Prometric to offer the CPA exam in various countries, making it easier for international candidates to take the examination without traveling to the United States.

International Testing Locations

The CPA exam is available in several international locations, allowing candidates to sit for the exam closer to their home country. Some of the key locations include:

• Middle East: United Arab Emirates (Dubai and Abu Dhabi), Bahrain, Kuwait, and Lebanon.
• Europe: Germany and England.
• Asia: Japan and South Korea.
• South America: Brazil.

These locations provide international candidates with convenient options for taking the CPA exam while maintaining the same testing standards used in U.S. testing centers.

Eligibility for International Candidates

International candidates must meet the same eligibility requirements as those taking the exam in the United States. This includes having the appropriate educational qualifications (usually 150 credit hours of education in accounting and business-related subjects) and, in some cases, work experience. International candidates are encouraged to check with their selected jurisdiction to ensure they meet all eligibility criteria.

International Registration Process

International candidates follow the same registration process as domestic candidates. This involves:

1. Application Submission: Candidates must apply through NASBA by selecting their chosen U.S. jurisdiction for licensure.
2. Authorization to Test (ATT): After application approval, candidates receive an ATT, which allows them to proceed with scheduling their exam sections.
3. Notice to Schedule (NTS): Once registered, candidates receive their NTS, which is required to book exam appointments at Prometric testing centers.
4. Scheduling the Exam: International candidates will schedule their exam with Prometric, selecting their preferred location and date.

The entire process, from registration to scheduling, mirrors the U.S. process, ensuring uniformity in testing.

International Exam Fees

While the registration and application processes for international candidates are similar to those for U.S. candidates, the fees for international candidates are generally higher due to additional administrative costs associated with administering the examination abroad.

1. Application Fee: This fee varies by jurisdiction, typically ranging from $50 to $200, depending on the state or jurisdiction selected.
2. NASBA International Testing Fee: In addition to the regular NASBA fee of $75 per exam section, international candidates must pay an additional $371.55 per section for taking the exam outside the United States.
3. Prometric International Fees: International candidates may incur additional fees for rescheduling or canceling their exam appointments, based on Prometric’s policies.

These fees cover the logistical and administrative costs of delivering the CPA exam in these locations, ensuring that international candidates receive the same testing experience as their U.S. counterparts.

Additional Considerations

• Testing Format: The CPA exam format remains the same for international candidates, with the same MCQs, task-based simulations, and written communication tasks. The exam content and scoring are identical to those administered in the U.S.
• Access to Resources: International candidates have access to the same CPA review courses and study materials as U.S. candidates, making it easier to prepare for the exam regardless of location.

For more information about international testing, candidates should refer to the AICPA or NASBA websites, which provide detailed information about testing procedures, fees, and schedules. These resources will guide candidates through the registration process and ensure they meet all requirements for sitting the CPA exam internationally.

CPA Exam Costs and Fees

One of the critical aspects of preparing for the CPA exam is understanding the costs and fees associated with taking the examination.

Examination Fees

The fees for taking the CPA exam vary by state, but here are the common charges candidates should expect:

1. Application Fee: A one-time fee paid when submitting your CPA exam application to your state board. The fee typically ranges from $50 to $200, depending on the jurisdiction.
2. NASBA Fee: NASBA charges a flat fee of $75 per exam section. This fee is paid for each section of the exam, regardless of the state you are applying in.
3. Exam Section Fees: Each exam section has a separate fee. This varies by state, but generally, candidates can expect to pay between $250 and $385 per section.

Additional Fees:

• Rescheduling Fees: Candidates may need to pay rescheduling fees if they need to change their exam date. The cost depends on how far in advance the rescheduling request is made:
  • 30+ days before the examination: No fee.
  • 5–29 days before the exam: A fee of approximately $35.
  • Less than 5 days: A fee of approximately $85.

CPA Exam Scoring and Results

After completing each section of the CPA exam, candidates wait for their scores to be released. Understanding how scoring works and when to expect results is crucial for managing your examiation timeline.

CPA Exam Score

The CPA exam is scored on a scale from 0 to 99, with a minimum passing score of 75. This score represents a weighted assessment of a candidate’s performance on multiple-choice questions, task-based simulations, and in some sections, written communication tasks.

• Score Release Timeline: NASBA releases scores on a rolling basis. Typically, scores are available within 2–3 weeks after completing a section of the exam. NASBA provides a target score release date timeline on its website.
• Where to Check Scores: Scores are sent to the state boards of accountancy, and candidates can access their results through the NASBA portal.

CPA Exam Eligibility and Requirements

The eligibility requirements to sit for the CPA exam differ from state to state. Candidates must meet specific criteria in terms of education, work experience, and sometimes residency before they are allowed to take the examination.

Eligibility Requirements

1. Education: Most states require candidates to have at least a bachelor’s degree, with a certain number of accounting and business-related credit hours (usually 150 credit hours total).
2. Work Experience: Some states require candidates to have completed a specific number of work hours under the supervision of a licensed CPA before being eligible to sit for the exam.
3. Residency: Certain jurisdictions require candidates to meet residency requirements to apply for the CPA exam.

Candidates should refer to their specific state board’s application materials for a detailed understanding of the requirements in their jurisdiction.

Additional Resources for CPA Candidates

To ensure success in your CPA examination preparation, consider the following additional resources:

• Read More About the CPA Exam: Visit NASBA and AICPA websites for the latest updates on the CPA examination structure and requirements.
• CPA Exam Costs and Fees: Review the fee schedule for your state to get an accurate estimate of the cost.
• CPA Exam Score Release Dates: Stay updated on score release dates to track your performance.
• CPA Exam Study Guide: Use study guides, practice tests, and flashcards to develop a strong study plan.
• Prometric Test Centers: Familiarize yourself with your nearest test center location and exam-day procedures.

Conclusion

Successfully navigating the CPA exam schedule requires careful planning, attention to deadlines, and thorough preparation. Understanding the structure of the exam, key testing windows, associated costs, and eligibility requirements will ensure that you are well-prepared for each step of the process. By staying informed and taking advantage of available resources, you can increase your chances of passing each section and earning your CPA designation.