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US CPA exam to include IFRSs starting 2011

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06 Oct 2009

Beginning 1 January 2011, the United State Uniform CPA Examination will include, for the first time, testing on International Financial Reporting Standards.

Under the new Content and Skill Specifications for the Uniform CPA Examination (PDF 262k), CPA exam candidates will be expected to 'identify and understand the differences between financial statements prepared on the basis of accounting principles generally accepted in the United States of America (US GAAP) and International Financial Reporting Standards (IFRS)'. Candidates will also be required to demonstrate proficiency in first-time adoption of IFRSs.

 

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