I just read an article (p. 22) about the CPA examination changes effective Jan. 1, 2011. The AICPA official release can be found here.

There are several major changes taking place at the same time. I list three below:

1. Switch from two case-based simulations to six or seven task-based simulations.

2. Testing of the organization and use of the FASB Codification.

3. Testing of IFRS. According to the first article, published by the Utah Association of CPA’s:

The decision to add IFRS to the new CPA exam was essential since the U.S. Securities and Exchange Commission (SEC) is preparing to adopt IFRS as the national financial reporting standard. It is the responsibility of every CPA to be proficient in this new, authoritative literature.

Whether or not the SEC and IASB are “gung ho” on convergence, potential CPA’s will be tested on it.