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CPA Evolution

In 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 By Tammy J. of accountancy and others —

Hofstede provided feedback on evolving President & CPA licensure. In May 2020, a CEO, WICPA joint effort of the AICPA and the 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.

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3. 4. 5. 6. Strong core with accounting, auditing, tax and technology Deeper knowledge in three primary disciplines Reflects reality of practice Adaptive and flexible One CPA license 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.

We’re Available — in person or virtually!

While many students may have their first taste of the accounting field during a high school or college elective, the WICPA provides even more resources to help students understand the depth and By Amanda breadth of the accounting

Armitage profession. As the membership outreach coordinator for the WICPA, one of my favorite roles involves positioning students on the pathway to the CPA credential. This article describes some of the ways I am looking forward to connecting with students in the 2020-21 school year.

Classroom presentations

As high school teachers and college professors begin to plan their lessons for the upcoming school year, I would recommend that they schedule a classroom visit with me! Thanks to the rise of virtual learning, I can now visit any school in the state conveniently from my office. These presentations are a great way to provide even more information about the accounting profession and possible career opportunities, how to achieve the CPA license, ways to get involved with the WICPA while in college and much more. I am also always willing to work with educators to create a specialized presentation to help focus on the areas that will benefit their students the most. Students love the interactive material and always enjoy playing Kahoot trivia.

While many students may have their first taste of the accounting field during a high school or college “ elective, the WICPA provides even more resources to help students understand the depth and breadth of the accounting profession.”

Accounting club meetings

Students who are involved in accounting groups, such as college clubs or Beta Alpha Psi, are already working hard to enrich their educational experience. It is always a pleasure to work with these students and provide them with detailed information about planning their post-graduate career timeline, sitting for the exam and utilizing the CPA license throughout all areas of the accounting profession. I find it especially important to connect with students while they’re in school because the transition from college to career can be daunting. Many students lose some of their connections after graduation and need to seek support and resources on their own — which is where an organization like the WICPA can help.

CPA Panels

During almost every visit with students — whether it’s through a classroom presentation, a CPA panel or an accounting club appearance — I hear at least one of these questions: What is your favorite part about being a CPA? Is sitting for the CPA Exam as hard as it sounds?

How did you transition from public accounting to an industry position? As much information as I have about the accounting profession and the CPA Exam process, I am not actually a CPA, and there is nothing that compares to a testimonial from an experienced professional. That is why I love to set up CPA panels and bring in volunteers from our WICPA membership base. We serve over 7,000 members throughout the state of Wisconsin, in every industry and with all educational backgrounds — so each panel can offer unique perspectives about the benefits of achieving the CPA license. These panels and Q&A sessions are also great opportunities for students to connect with professionals in their field and engage with the WICPA network while still in school.

These are just three of the popular options to help students gain access to professional resources, expand their knowledge of the accounting field and start building a supportive network for themselves on the way to earning their CPA license. While I look forward to visiting classes and campuses again, I am grateful to also have the opportunity to virtually connect with students this semester. If you are a student leader or educator looking to brainstorm a virtual event with the WICPA, please reach out to me at amanda@wicpa.org or fill out this online form: https://www.wicpa.org/education/speaker-request.

Amanda Armitage is the membership outreach coordinator for the WICPA. Contact her at 800-772-6939, ext. 4511 or amanda@wicpa.org.

Note: Students can join the WICPA at wicpa.org/join.