CPA Exam to Phase in Testing of PCAOB Standard

CPA Exam to Phase in Testing of PCAOB Standard

On June 1, 2017, the Public Company Accounting Oversight Board (“PCAOB” or “Board”) adopted a new standard, The Auditor’s Report on an Audit of Financial Statements when the Auditor Expresses an Unqualified Opinion (PCAOB Release No. 2017-001). The Securities and Exchange Commission approved the standard on October 23, 2017. The Board adopted a phased approach to the effective dates for the new requirements. The final standard and amendments will take effect as follows: All provisions other than those related to critical audit matters will take effect for audits of fiscal years ending on or after December 15, 2017; and provisions related to critical audit matters will take effect for audits of fiscal years ending on or after June 30, 2019 for large accelerated filers; and for fiscal years ending on or after December 15, 2020 for all other companies to which the requirements apply.

PCAOB Release No. 2017-001 will become eligible for testing on the Uniform CPA Examination using a phased approach. All provisions other than those related to critical audit matters will be eligible for testing beginning on July 1, 2018. Provisions related to critical audit matters will be eligible for testing beginning on July 1, 2019.

July 12, 2018 | CPA Exam Changes | 0 Comments |
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General Terms and Conditions

Terms and Conditions (“Terms”)

Last updated: January 28, 2024

Please read these Terms and Conditions (“Terms”, “Terms and Conditions”) carefully before using the https://cpaexamcoach.com website and any of its mobile applications (the “Services”) operated by Mabstac, LLC (“Mabstac”, “us”, “we”, or “our”). Your access to and use of the Service(s) is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Services. By accessing or using the Services you agree to be bound by these Terms. If you disagree with any part of the terms, then you may not access the Services.

Ownership

All rights (including without limitation, copyrights, trademarks, patents and trade secrets) in the Services and the content contained therein, including Content generated by you on the website, including but not limited to performance results and other statistic data, (“Mabstac Content”) are and will remain the sole and exclusive property of Mabstac and/or its licensors. No title to or ownership of any portion of the Services, the Mabstac Content or any other products or services manufactured, sold and/or distributed or otherwise made available by Mabstac, or any proprietary rights related to those products/services, is or will be transferred pursuant to or by virtue of this agreement. Mabstac hereby grants you access only to use its Services and content and does not grant you in any manner a limited, non-exclusive, non-sub licensable, revocable license.

Links To Other Web Sites

Our Service may contain links to third-party web sites or services that are not owned or controlled by Mabstac, LLC. Mabstac, LLC has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third-party web sites or services. You further acknowledge and agree that Mabstac, LLC shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.

Changes/Corrections

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will try to provide at least 30 days’ notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.

The Services may contain errors or inaccuracies and may not be complete or current. Mabstac therefore reserves the right to correct any errors, inaccuracies or omissions (including after an order has been submitted) and to change or update information at any time without prior notice. Please note that such errors, inaccuracies, or omissions may relate to pricing, and we reserve the right to cancel or refuse to accept any order placed based on incorrect pricing or availability information.

Feedback

You may from time to time provide Mabstac with suggestions, ideas or other feedback regarding the Services (“Feedback”). Both parties agree that Mabstac shall own such Feedback and is entitled, but not obligated, to use, develop and exploit it in any manner, without restriction or duty to compensate or seek permission from you.

Term and Termination

We reserve the right, in our sole discretion, to terminate your access to all or part of the Services, with or without notice. Upon termination, all rights granted to you in these Terms of Service will immediately cease. To the extent that you have a subscription that extends beyond termination of these Terms of Service, unless such termination is due to your breach, the subscription shall remain in force for the period set forth in the subscription’s terms or subscription order.

Any provision of these Terms of Service that expressly or by implication is intended to continue in force after termination or expiration of these Terms of Service, will survive.

Disclaimer

THE SERVICES ARE PROVIDED “AS IS”, WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, RELIABLITY, AVAILABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THE ENTIRE RISK AS TO THE RESULTS OR PERFORMANCE OF THE SERVICES IS ASSUMED BY YOU. IN NO EVENT WILL MABSTAC, LLC OR ITS LICENSORS BE LIABLE TO YOU FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION LOST PROFITS, LOST SAVINGS, OR OTHER INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE OR INABILITY TO USE THE SERVICES, EVEN IF MABSTAC, LLC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE TERMS OF THIS DISCLAIMER SECTION SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.

The Mabstac software has been tested with a wide range of computer configurations. However, due to the rapidly evolving computer industry and unpredictability of various factors affecting computer systems, Mabstac does not guarantee the functionality of its software on every configuration. Also, nor does Mabstac guarantee predictable behavior of the software in general. You recognize all of the above terms and accept that use of the Mabstac software on your system is done solely at your own risk.

Injunctive Relief

You agree that any breach of your obligations with respect to Mabstac’s proprietary or intellectual property rights will result in irreparable injury to Mabstac for which money damages are inadequate. You therefore agree that Mabstac shall be entitled to seek injunctive relief, without the requirement of posting a bond, in addition to any other relief that a court may deem proper.

Privacy Policy and Consent

Mabstac’s Privacy Policy is located at: Privacy Policy. Mabstac will process and store profile information that you provide to Mabstac (name and email) in accordance with this policy. Mabstac may also send you service announcements, administrative messages and other information in connection with your use of the Services. You may opt out of particular communications.

Where access to the Services has or will be provided to you through your institution or school’s (“Institution’s”) online learning management system using a ‘single sign on’ (SSO), then in accessing this Services you consent to Mabstac:

  1. collecting the following personal information about you from the Institution: first and last name, institution, course name; and
  2. disclosing personal information to your Institution directly relevant to your use of the Services, such as results of assessments set by instructors and other analytics regarding your access to the Services.

Your performance results may be displayed to other users of the site as a motivation to further enhance successful performance and for marketing purposes.

Miscellaneous

We make no representation that the Services are appropriate or available for use in your location and accessing them from locations where their contents are illegal is prohibited. If you choose to access this site from any such locations, you do so on your own initiative and are responsible for compliance with local laws. These Terms of Service represent the entire agreement between us and supersedes any proposals or prior agreements, oral or written, and any other communication between us relating to the subject matter of these Terms of Service. We reserve the right, at our discretion, to update or revise these Terms of Service. Please check the Terms of Service periodically for changes. Your continued use of the Services following the posting of any changes to the Terms of Service constitutes acceptance of those changes. Please note that by using the Services, you agree that you are entering into a legally binding agreement (even if you are using the Services on behalf of a company). You acknowledge that you have read these Terms of Service and agree to be bound by its terms and conditions. The laws of the country set forth below shall apply according to your country of residence, without regard to conflicts of law rules. The corresponding jurisdiction shall be the forum for adjudication of all disputes arising in connection with this agreement:

For the United States and all countries not expressly stated, the applicable law will be Commonwealth of Virginia, and the agreed jurisdiction will be Fairfax, Virginia.

Contact Us

If you have any questions about these Terms, please contact us.

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General Terms and Conditions

Terms and Conditions (“Terms”)

Last updated: January 28, 2024

Please read these Terms and Conditions (“Terms”, “Terms and Conditions”) carefully before using the https://cpaexamcoach.com website and any of its mobile applications (the “Services”) operated by Mabstac, LLC (“Mabstac”, “us”, “we”, or “our”). Your access to and use of the Service(s) is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Services. By accessing or using the Services you agree to be bound by these Terms. If you disagree with any part of the terms, then you may not access the Services.

Ownership

All rights (including without limitation, copyrights, trademarks, patents and trade secrets) in the Services and the content contained therein, including Content generated by you on the website, including but not limited to performance results and other statistic data, (“Mabstac Content”) are and will remain the sole and exclusive property of Mabstac and/or its licensors. No title to or ownership of any portion of the Services, the Mabstac Content or any other products or services manufactured, sold and/or distributed or otherwise made available by Mabstac, or any proprietary rights related to those products/services, is or will be transferred pursuant to or by virtue of this agreement. Mabstac hereby grants you access only to use its Services and content and does not grant you in any manner a limited, non-exclusive, non-sub licensable, revocable license.

Links To Other Web Sites

Our Service may contain links to third-party web sites or services that are not owned or controlled by Mabstac, LLC. Mabstac, LLC has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third-party web sites or services. You further acknowledge and agree that Mabstac, LLC shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.

Changes/Corrections

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will try to provide at least 30 days’ notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.

The Services may contain errors or inaccuracies and may not be complete or current. Mabstac therefore reserves the right to correct any errors, inaccuracies or omissions (including after an order has been submitted) and to change or update information at any time without prior notice. Please note that such errors, inaccuracies, or omissions may relate to pricing, and we reserve the right to cancel or refuse to accept any order placed based on incorrect pricing or availability information.

Feedback

You may from time to time provide Mabstac with suggestions, ideas or other feedback regarding the Services (“Feedback”). Both parties agree that Mabstac shall own such Feedback and is entitled, but not obligated, to use, develop and exploit it in any manner, without restriction or duty to compensate or seek permission from you.

Term and Termination

We reserve the right, in our sole discretion, to terminate your access to all or part of the Services, with or without notice. Upon termination, all rights granted to you in these Terms of Service will immediately cease. To the extent that you have a subscription that extends beyond termination of these Terms of Service, unless such termination is due to your breach, the subscription shall remain in force for the period set forth in the subscription’s terms or subscription order.

Any provision of these Terms of Service that expressly or by implication is intended to continue in force after termination or expiration of these Terms of Service, will survive.

Disclaimer

THE SERVICES ARE PROVIDED “AS IS”, WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, RELIABLITY, AVAILABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THE ENTIRE RISK AS TO THE RESULTS OR PERFORMANCE OF THE SERVICES IS ASSUMED BY YOU. IN NO EVENT WILL MABSTAC, LLC OR ITS LICENSORS BE LIABLE TO YOU FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION LOST PROFITS, LOST SAVINGS, OR OTHER INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE OR INABILITY TO USE THE SERVICES, EVEN IF MABSTAC, LLC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE TERMS OF THIS DISCLAIMER SECTION SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.

The Mabstac software has been tested with a wide range of computer configurations. However, due to the rapidly evolving computer industry and unpredictability of various factors affecting computer systems, Mabstac does not guarantee the functionality of its software on every configuration. Also, nor does Mabstac guarantee predictable behavior of the software in general. You recognize all of the above terms and accept that use of the Mabstac software on your system is done solely at your own risk.

Injunctive Relief

You agree that any breach of your obligations with respect to Mabstac’s proprietary or intellectual property rights will result in irreparable injury to Mabstac for which money damages are inadequate. You therefore agree that Mabstac shall be entitled to seek injunctive relief, without the requirement of posting a bond, in addition to any other relief that a court may deem proper.

Privacy Policy and Consent

Mabstac’s Privacy Policy is located at: Privacy Policy. Mabstac will process and store profile information that you provide to Mabstac (name and email) in accordance with this policy. Mabstac may also send you service announcements, administrative messages and other information in connection with your use of the Services. You may opt out of particular communications.

Where access to the Services has or will be provided to you through your institution or school’s (“Institution’s”) online learning management system using a ‘single sign on’ (SSO), then in accessing this Services you consent to Mabstac:

  1. collecting the following personal information about you from the Institution: first and last name, institution, course name; and
  2. disclosing personal information to your Institution directly relevant to your use of the Services, such as results of assessments set by instructors and other analytics regarding your access to the Services.

Your performance results may be displayed to other users of the site as a motivation to further enhance successful performance and for marketing purposes.

Miscellaneous

We make no representation that the Services are appropriate or available for use in your location and accessing them from locations where their contents are illegal is prohibited. If you choose to access this site from any such locations, you do so on your own initiative and are responsible for compliance with local laws. These Terms of Service represent the entire agreement between us and supersedes any proposals or prior agreements, oral or written, and any other communication between us relating to the subject matter of these Terms of Service. We reserve the right, at our discretion, to update or revise these Terms of Service. Please check the Terms of Service periodically for changes. Your continued use of the Services following the posting of any changes to the Terms of Service constitutes acceptance of those changes. Please note that by using the Services, you agree that you are entering into a legally binding agreement (even if you are using the Services on behalf of a company). You acknowledge that you have read these Terms of Service and agree to be bound by its terms and conditions. The laws of the country set forth below shall apply according to your country of residence, without regard to conflicts of law rules. The corresponding jurisdiction shall be the forum for adjudication of all disputes arising in connection with this agreement:

For the United States and all countries not expressly stated, the applicable law will be Commonwealth of Virginia, and the agreed jurisdiction will be Fairfax, Virginia.

Contact Us

If you have any questions about these Terms, please contact us.