What CPA Exam Changes are candidates expecting in January 2022? How is FAR, Audit, BEC, and REG different than before? Audit has the big update in the area of Audit reporting. SAS 134, brings a new audit report for a non-issuer. The new report looks nothing at all like the old report, but here’s the good news; It looks very much like the report for an issuer. The two audit reports are now closely aligned. They both have the audit opinion in the first section. Basis for opinion in the second section. The report also includes a section on “key audit matters”. Watch this video in its entirety and see all the relevant updates to the CPA Exam if you are testing in January of 2022.