The Uniform CPA Examination

Answer. You are responsible to know accounting and auditing pronouncements six months after the prouncement�s effective date, unless early application is permitted. When early application is permitted, you must know the new pronouncement six months after the issuance date. In addition, you are responsible for knowing both the old and new pronouncements until the old pronouncement is superseded. For federal tax law, you are responsible for knowing the Internal Revenue Code and federal tax regulations in effect six months before the examination date. For other federal laws, which will be tested on the Business Law and Professional Responsibilities section, you are responsible for knowledge of federal laws six months after their effective date, and uniform acts one year after their adoption by a simple majority of the jurisdictions.