The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have proposed updates to the Uniform Accountancy Act (UAA), a model law that serves as a guide for state legislatures and boards of accountancy. States can adopt the UAA either entirely or with modifications to meet their jurisdictional needs. The proposed changes aim to increase access to the accounting profession and address the ongoing talent shortages./storage/files/4e62fef869fa3c3c5f81d447cbc07492.jpeg
The updates maintain the existing 150-credit-hour requirement for CPA licensure but introduce an alternative pathway. Under the new proposal, candidates could earn the CPA credential by:- Completing a bachelor's degree (meeting state-specific accounting and business course requirements)
- Gaining one year of competency-based experience
- Completing one year of undefined experience (at least 2,000 hours)
- Passing the CPA Exam
Additionally, the proposal allows candidates to sit for the CPA Exam after completing 120 credit hours, a measure already adopted by many states, including Massachusetts.
The AICPA and NASBA are seeking feedback from the profession on these proposed changes. Comments can be submitted until December 30, 2024.
Separately, AICPA and NASBA have released a draft proposal for a Competency-Based Experience Pathway. This pathway allows CPA candidates to demonstrate their skills through workplace experience after earning a bachelor's degree and fulfilling state-specific course requirements. This model would be available if states adopt the proposed UAA revisions. The exposure draft for this pathway was released on September 12, with comments due by December 6. |
