Hoboken, N.J. (PRWEB) June 13, 2013
Wiley is pleased to announce the release of CPAexcel Version 7.9 (v7.9), a complete and extensive update to the CPA Exam online study materials in accordance with the new Clarified Auditing Standards established by the American Institute of CPA’s (AICPA) for 2013 exams. These updates apply to the CPA Exams starting July 1st, 2013.
Updates to the Auditing Section (AUD) of the study materials were needed since the AICPA replaced virtually all the Statements on Auditing Standards with its new Clarified Auditing Standards. This was done in connection with the Auditing Standards Board's Clarity and Convergence project - the first overhaul of the complete set of Auditing Standards in 40 years.
While most of the clarified standards are consistent with existing GAAS, there are areas of significant change. Two to focus on are the 7 principles of audit standard setting, which replace the 10 Criteria of GAAS, and audit reporting topics. View a short video about the clarified standards and how they will affect the Auditing section of the CPA Exam.
The v7.9 update to the Business Environment and Concepts Section (BEC) includes content related to cloud-computing and mobile device security. It will also include coverage of the recently updated (2013) COSO integrated framework for internal control. The COSO content updates the framework to emerging business and operating conditions, expands the consideration of financial reporting in internal control, and increases and enhances the focus on controls related to operations, compliance and reporting.
In Regulation (REG), the Tax materials have been updated for the American Taxpayer Relief Act of 2012. This Act includes important changes that impact the individual federal income tax law, and the gift tax and estate tax provisions.
CPAexcel was created in conjunction with professors at University of Texas Austin, Northern Illinois University, California State University-Sacramento and other top accounting schools in the country. Known as the best value in CPA Exam Review Courses, CPAexcel was developed by Efficient Learning Systems, Inc. and first delivered to CPA Exam candidates in May of 1998. Since then, exam candidates at colleges, universities, CPA firms, government agencies, and various other entities have consistently passed the CPA Exam at exceptionally high rates with the help of these industry-leading CPA Exam Review Courses. The Company’s website can be accessed at http://www.cpaexcel.com.
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