AICPA CPA-Auditing Exam Topics
CPA Auditing and Attestation
Total Questions: 1025What is Included in the AICPA-Auditing Exam?
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AICPA CPA-Auditing Exam Overview :
| Exam Name | CPA Auditing and Attestation |
| Exam Code | CPA-Auditing |
| Actual Exam Duration | 120 minutes |
| Expected no. of Questions in Actual Exam | 100 |
| Official Information | http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx |
| See Expected Questions | AICPA CPA-Auditing Expected Questions in Actual Exam |
| Take Self-Assessment | Use AICPA CPA-Auditing Practice Test to Assess your preparation - Save Time and Reduce Chances of Failure |
AICPA CPA-Auditing Exam Topics :
| Section | Weight | Objectives |
|---|---|---|
| Area I — Ethics, Professional Responsibilities and General Principles | 15-25% | A. Nature and scope 1. Nature and scope: audit engagements 2. Nature and scope: engagements conducted under Government Accountability Office Government Auditing Standards 3. Nature and scope: other engagements B. Ethics, independence and professional conduct 1. AICPA Code of Professional Conduc 2. Requirements of the Securities and the Exchange Commission and the Public Company Accounting Oversight Board 3. Requirements of the Government Accountability Office and the Department of Labor 4. Professional skepticism and professional judgment C. Terms of engagement 1. Preconditions for an engagement 2. Terms of engagement and engagement letter D. Requirements for engagement documentation 1. Planned scope and timing of an engagement 2. Internal control related matters F. A firm’s system of quality control, including quality control at the engagement level |
| Area II — Assessing Risk and Developing a Planned Response | 25-35% | A. Planning an engagement 1. Developing an overall engagement strategy 2. Developing a detailed engagement plan B. Understanding an entity and its environment 1. External factors 2. Internal factors C. Understanding an entity’s control environment and business processes, including information technology (IT) systems 1. Control environment, IT general controls and entity-level controls 2. Business processes and the design of internal controls, including IT systems 3. Implications of an entity using a service organization 4. Limitations of controls and risk of management override D. Assessing risks due to fraud, including discussions among the engagement team about the risk of material misstatement due to fraud or error E. Identifying and assessing the risk of material misstatement, whether due to error or fraud, and planning further procedures responsive to identified risks 1. Impact of risks at the financial statement level 2. Impact of risks for each relevant assertion at the class of transaction, account balance and disclosure levels 3. Further procedures responsive to identified risks F. Materiality 1. For the financial statements as a whole 2. Tolerable misstatement and performance materiality G. Planning for and using the work of others H. Specific areas of engagement risk 1. An entity’s compliance with laws and regulations, including possible illegal acts 2. Accounting estimates 3. Related parties and related party transactions |
| Area III — Performing Further Procedures and Obtaining Evidence | 30–40% | A. Sufficient appropriate evidence B. General procedures to obtain sufficient appropriate evidence C. Specific procedures to obtain sufficient appropriate evidence 1. Analytical procedures 2. External confirmations 3. Audit data analytics D. Specific matters that require special consideration 1. Accounting estimates 2. Investments in securities 3. Inventory and inventory held by others 4. Litigation, claims and assessments 5. An entity’s ability to continue as a going concern E. Misstatements and internal control deficiencies F. Written representations G. Subsequent events and subsequently discovered facts |
| Area IV — Forming Conclusions and Reporting | 10-20% | A. Reports on auditing engagements 1. Forming an audit opinion, including modification of an auditor’s opinion 2. Form and content of an audit report, including the use of emphasis-of-matter and other-matter (explanatory) paragraphs 3. Audit of internal control integrated with an audit of financial statements B. Reports on attestation engagements 1. General standards for attestation reports 2. Agreed-upon procedures reports 3. Reporting on controls at a service organization C. Accounting and review service engagements 1. Preparation engagements 2. Compilation reports 3. Review reports D. Reporting on compliance E. Other reporting considerations 1. Comparative statements and consistency between periods 2. Other information in documents with audited statements 3. Review of interim financial information 4. Supplementary information 5. Additional reporting requirements under Government Accountability Office Government Auditing Standards 6. Special-purpose and other country frameworks |
Updates in the AICPA-Auditing Exam Topics:
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