The Regulation exam section consists of two main topics: business ethics/law and taxation, accounting for approximately 35 percent and 65 percent respectively.
While both topics are relevant to the regulatory aspects of the accounting profession, they are drastically different in the context of the CPA exam. A tax accountant may find it easy to go over the tax section but may have a hard time memorizing the concepts in contracts and debtor-creditor relationship. On the other hand, an auditor is familiar with the legal responsibility of accountants but may spend many grueling hours studying the exclusions and itemized deductions.
For international candidates, REG is likely the biggest challenge because both business ethics/law and taxation could be new to you. I do not think you can skip any study modules and expect to pass, but you can follow my guide to study more effectively and aim to clear the exam on your first attempt.
What Does REG Cover?
Here is the examination specification released by the American Institute of Certified Public Accountants (AICPA):
This is a three-hour examination, with three testlets each ...