Objective: The Committee oversees the Financial Accounting and Reporting (FAR) Core section and the Business Analysis and Reporting (BAR) Discipline section of the Exam under CPA Evolution.
The FAR Core section of the Exam will focus on assessing the knowledge and skills that nlCPAs must demonstrate in the financial accounting and reporting frameworks used by for-profit (public and nonpublic) and not-for-profit entities as well as foundational concepts related to the accounting requirements for state and local governments as issued by the Governmental Accounting Standards Board (GASB).
The BAR Discipline section of the Exam will focus on assessing the knowledge and skills that nlCPAs must demonstrate with respect to financial statement and financial information analysis, select technical accounting and reporting requirements under the Financial Accounting Standards Board (FASB) Accounting Standards Codification and the U.S. Securities and Exchange Commission that are applicable to for-profit business entities and employee benefit plans, and the financial accounting and reporting requirements under the GASB.
Members of the Committee are responsible for:
● Reviewing and approving the multiple-choice questions (MCQs) and task-based simulations (TBSs) included in the Exam for technical accuracy, appropriateness for nlCPAs, and conformity with content blueprints/specifications
● Setting the strategic direction of the section based on standard-setting developments and other trends in the accounting profession
● Monitoring the overall health of the inventory of MCQs and TBSs to ensure that the Exam can be assembled based on the requirements set forth in the content blueprints
Qualifications/requirements:
● Licensed CPA
● AICPA member
● Cannot be engaged in CPA Examination review or preparation activities
● Cannot have an immediate family member who is currently taking or preparing to take the Exam
● Meets one of the volunteer needs for the upcoming year described below
○ Big 4 public accounting firm (1 vacancy)
○ Large public accounting firm (1 vacancy)
○ Business and industry role, external reporting or controller role (3 vacancies)
○ Governmental industry specialist (1 vacancy)
Meeting format: Combination of in-person and web meetings per year (mostly web meetings):
○ In-person meetings are two days
○ Web meetings are two to four hours
● There is about one hour of preparation time for each hour of meeting time