The American Institute of Certified Public Accountants (AICPA) and its Board of Examiners (BOE), a senior committee of the AICPA, are pleased to announce the CPA Exam pass rates for the first quarter of 2024 (24Q1).
CPA Evolution and Determining Pass Scores
The AICPA and the National Association of State Boards of Accountancy (NASBA) launched CPA Evolution in January 2024 to address the growing need for skills related to technology, data analytics, cybersecurity and system and organization controls (SOC) engagements, and to provide additional candidate choice and flexibility.
The CPA Evolution-aligned CPA Exam includes significant changes to the Exam structure and content eligible to be assessed as reflected in the Uniform CPA Examination Blueprints. As a result of these significant changes, the AICPA and its BOE needed to complete additional analysis of Exam questions and candidate performance after testing was completed in 24Q1 to ensure that the test results were reliable, fair and could be used to make pass or fail decisions. After significant data analysis, deliberation, and review, the BOE determined the passing score for each Exam section which resulted in the 24Q1 CPA Exam pass rates below.
Important Considerations: CPA Evolution, the Core and Discipline Model and Candidate Choice
CPA Evolution significantly changed the CPA licensure model and the CPA Exam by introducing a Core and Discipline model. Under CPA Evolution, all candidates are required to pass three Core Exam sections: Auditing and Attestation (AUD); Financial Accounting and Reporting (FAR); and Taxation and Regulation (REG). Candidates have a choice in taking one of the three Discipline Exam sections (i.e., Business Analysis and Reporting (BAR); Information Systems and Controls (ISC); or Tax Compliance and Planning (TCP)).
Candidate performance on the Core Exam sections generally aligns to historical passing rates of the related pre-CPA Evolution Exam sections. In review and analysis of candidate performance across Discipline Exam sections in the 24Q1 testing window, the AICPA and the BOE noted TCP candidates were generally better prepared to take TCP than the BAR candidates were to take BAR and ISC candidates were to take ISC.
24Q1 CPA Exam Pass Rates
Core Exam Sections
AUD: 44.63%
FAR: 41.92%
REG: 63.42%
Discipline Exam Sections
BAR: 42.94%
ISC: 50.93%
TCP: 82.36%
The pass rates above are for the first window of testing under the Core and Discipline model and are anticipated to change over time given the changing candidate populations and their preparedness to sit for Exam sections. The AICPA and its BOE encourage candidates to choose a Discipline Exam section that best aligns with their education, experience, and current personal and professional interests.