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CPA Evolution
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n 2018, stakeholders across the profession — including CPAs working in firms of all sizes across the country, CPAs working in business and industry, members of the accounting academic community, volunteers, students, technology experts, state boards of accountancy and others — By Tammy J. provided feedback on evolving Hofstede CPA licensure. In May 2020, a President & joint effort of the AICPA and the CEO, WICPA National Association of State Boards of Accountancy (NASBA) was approved to design and implement a new approach to CPA licensure. The goal is to transform the CPA licensure model to recognize the rapidly changing skills and competencies the practice of accounting requires today and will require in the future in a technology-driven marketplace. As many processes and procedures become automated, entry-level CPAs are now performing more procedures that more experienced staff previously performed and that require deeper critical thinking, problem solving and professional judgement. The “new” Uniform CPA Examination is still expected to be four sections: Candidates must pass three core sections and one discipline. In the model, all candidates would be required to demonstrate knowledge of a strong core in accounting, auditing, tax and technology. Then each candidate would choose a discipline in which to demonstrate their deeper skills and knowledge. Regardless of discipline, this model leads to full CPA licensure, with rights and privileges consistent with those
of any other CPA. A discipline selected for testing would not mean the CPA is limited to that practice area.
CPA Licensure Model This is progress toward the goal of positioning the CPA profession for continued strength and relevance in a constantly evolving business environment. The new CPA Exam is expected to launch in January 2024.
1. Strong core with accounting, auditing, tax and technology 2. Deeper knowledge in three primary disciplines 3. Reflects reality of practice 4. Adaptive and flexible 5. One CPA license 6. Enhances public protection Tammy J. Hofstede is president & CEO of the WICPA. Contact her at 800-772-6939, ext. 4518 or tammy@wicpa.org.
Continuous testing now available to CPA Exam candidates No more closed testing windows! Effective July 1, 2020, Wisconsin — along with over 40 other jurisdictions — began offering continuous testing to CPA candidates. Continuous testing allows candidates to sit for the CPA Exam anytime during the year. The only restriction is that candidates must wait to receive scores from prior attempts of the same section before sitting again. CPA2b Fall 2020 | wicpa.org
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