1. Revision of the CPA Board Licensure Examination Syllabus July 2015

2. Overview of the CPA Board Exam
Over 18,000 take the 3 Licensure exams
each year
- About 35% or 6,000 examinees pass
- CPA Tracker Survey in place to monitor career directions
of new CPAs
CPA Board Exam has conceptually not changed for over
40 years
Section 15 of the Accountancy Law allows amendments
To the CPA examination
July batch: 289
October batch: 258
NCR: 46.1%

3. Subjects to be included in the the new CPA Board Exam
Financial Accounting and Theory
Advanced topics in Accounting
Management Accounting and Control
Auditing
Taxation
Regulatory Framework for Business Transactions
July batch: 289
October batch: 258
NCR: 46.1%

4. Highlights of the change
Reduction in the number of subjects from seven(7) to six(6)
Merging auditing theory and practice into one (1) subject
Merging accounting theory and practice and distributing the pertinent topics in Theory of Accounts, Practical Accounting I, Practical Accounting II to Financial Accounting and Reporting, and Advanced Accounting
Segregating Business Law and Taxation into Taxation and Regulatory Framework for Business Transactions
Renaming Management Services to Management Accounting and Control
July batch: 289
October batch: 258
NCR: 46.1%

5. Next steps 100% mapping has been done
Issuance of the PRC Resolution revising the subjects
Finalization of syllabus and Table of Specifications by October 2015
Coordination with the appropriate offices in PRC to implement
the change
Preparation of test questions for the test bank under the OB framework

6. Next steps 2 year transition for conditional examinees
Conduct of public awareness and consultations
Implementation for the May 2016 CPA Licensure Examination