Answer. The Exam is a two-day, 15˝ hour Examination divided into four sections:
Business Law and Professional Responsibilities, which tests knowledge of a CPA’s professional responsibilities and the legal implications of business transactions.
Auditing, which covers knowledge of generally-accepted auditing standards and procedures and the skills needed to apply them in auditing and other attestation engagements. Information Technology will be tested on the Auditing section and will encompass the information technology topics that CPAs need to understand to perform auditing and other attestation engagements in computerized environments.
Accounting and Reporting—Taxation, Managerial, and Governmental and Not-for-Profit Organizations, which tests knowledge of principles and procedures for federal taxation, managerial accounting, and accounting for governmental and not-for-profit organizations.
Financial Accounting and Reporting, which covers knowledge of generally-accepted accounting principles for business enterprises.