NASBA announced today that its board of directors has voted unanimously to implement a new approach to CPA licensure.
The vote supports the advancement of the CPA Evolution initiative, a joint project of NASBA and the AICPA, which approved the initiative in May. In recent years, the organizations have monitored trends impacting the skills required of newly licensed CPAs, and the initiative is designed to better position new CPAs for the future.
The AICPA and NASBA will work closely with universities to create model curriculum and internship programs. They will also revise the Uniform CPA Exam’s content, with a new CPA Exam expected to launch in January 2024.
“The CPA profession is too important to our society and to our economy to not be 100% prepared and ready to respond to changing demands,” says NASBA Chair Laurie Tish. “CPAs entering the profession must be prepared with the skills and knowledge necessary to serve in this trusted role. The new licensure model will be more attractive to the best and the brightest, which will enhance the CPA pipeline.”
As the profession and the world navigate a new normal, education required of CPA candidates will adapt to address the emerging skills and competencies necessary in today’s marketplace, NASBA says. The new “core plus discipline” model will allow candidates to show enhanced competency in a chosen discipline within the profession.
Under the new licensure model, core skills in accounting, auditing, tax and technology will be required as well as in-depth knowledge and skills in one of the following: tax compliance and planning; business reporting and analysis; or information systems and controls. Current CPA candidates still will be able to sit for the current CPA Exam until the new exam launches.
“NASBA and AICPA will maintain continuing engagement with state boards, state CPA societies, academia, CPA firms and others to identify gaps, and develop new resources to aid in transition to the new licensure model,” says Tish.