January 2024
CPA
Newsletter from the Iowa Society of CPAs, your primary source for profession-related information
Your input steers “Pathways” recommendation
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owa CPA’s September 2023 issue featured ISCPA’s groundwork in exploring members’ thoughts on existing educational credit requirements for attaining CPA licensure in Iowa. While other barriers exist to joining the profession, legislation to offer alternative licensure pathways with fewer than 150 credits in Minnesota increases the urgency for conversations in Iowa. The decreasing CPA pipeline issue will not be solved overnight or with one change, but listening and acting on members’ input is our focus.
Task force formed Under the ISCPA board’s directive, the Society established the ISCPA Pathways to CPA Licensure Task Force to embark on a state-wide grassroots initiative to collect members’ input and present a recommendation at the December board meeting. Throughout the fall, task force members and ISCPA staff held focus group meetings across the state to ask questions about talent resources and how the current 150 credit hour licensure requirement in Iowa is perceived by various stakeholders. “Like many, I have witnessed first-hand the impact of the declining number of new accounting professionals on our firms and workplaces. I truly believe action is needed to turn this trend around and bring a new generation of candidates to the accounting profession,” said Kelli Schmidt, partner with KPMG and a task force volunteer. “While there are several potential reasons people are not choosing accounting, certainly the 150hour rule is one of the factors preventing people from pursuing this profession. I joined this effort because it felt critical to me for the Iowa Society of CPAs, with the help of the Pathways Task Force, to investigate the impact of this rule as well as the position of our valuable members.”
Data collection The focus group discussions allowed members to voice support or concerns and talk about their experiences. The top focus group themes became the basis for our online survey questions shared with members and others around the state. More than 900 survey respondents and 500 focus group participants provided data used to form the task force’s recommendation.
Focus group themes Across the state, members discussed what they are experiencing in the workplace and in the classroom. The most consistent themes to come from the focus groups were: •
Most discussion participants view the 150-hour education rule as a barrier to the profession.
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Mobility is a top concern when discussing changes to pathways.
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The additional 30 hours of education is not producing better accountants.
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Work experience is more valuable than undefined additional education requirements.
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Other barriers are adding to the CPA pipeline issue, especially starting pay, work-life balance and professional stereotypes.
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Reputational risk is not at the top of Iowa professionals’ concerns.
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The CPA Exam is the gold standard and determines if someone has what it takes to be a CPA. Continued on page 2
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