Prepared by the American Institute of Certified Public Accountants (AICPA), the Certified Public Accountant (CPA) exam is administered across the United States and its jurisdictions. Each state has its own board of accountancy that administers the licensing function and requirements vary state-by-state.
"The CPA Evolution initiative, a joint project between the National Association of State Boards of Accountancy (NASBA) and the AICPA, was created to transform the CPA licensure model. It was undertaken to embrace the changing skills and competencies required of CPAs, today and in the future." -PICPA Journal
International Financial Reporting Standards (IFRS)
Generally accepted accounting principles (GAAP) have been developed in various countries over the past few decades. These differences have arisen largely due to unique legal, regulatory, litigious, social, economic, religious and cultural environments.
More recently, there has been a movement toward harmonization and convergence of GAAP. The most significant initiative has been led by the International Accounting Standards Board (IASB), formerly known as the International Accounting Standards Committee. This group has primary responsibility for the development of International Financial Reporting Standards (IFRS).
All accounting courses at Saint Joseph's University will begin including international accounting topics. Specifically, the FAIS III course (307) has a unit designed to cover the essentials of IFRS.