Proposed model law changes support a new path to CPA licensure

The AICPA and the National Association of State Boards of Accountancy (NASBA) published proposed changes to the accounting profession’s model law that would enable an additional path to CPA licensure.

Proposed changes to the Uniform Accountancy Act (UAA) are being exposed for public comment through May 3. The changes would:

• Enable states to adopt a third licensure pathway that requires earning a bachelor’s degree with an accounting concentration, completing two years of professional experience, and passing the CPA Exam.
• Shift to an “individual-based” mobility model, which allows CPAs to practice in other states with just one license.
• Add safe-harbor language to ensure CPAs who meet existing licensure requirements preserve practice privileges.

The UAA provides state legislatures and boards of accountancy with a national model that can be adopted in full or in part to meet the licensure needs of each jurisdiction.

The proposal would maintain the existing two pathways to CPA licensure:

• Earning a bachelor’s degree with an accounting concentration and a master’s degree; completing one year of professional experience; and passing the CPA Exam.
• Earning a bachelor’s degree with an accounting concentration; earning 30 additional credit hours; completing one year of professional experience; and passing the CPA Exam.

In all three pathways, “professional experience” would be defined by state board rule and represent skills needed to serve the public at initial licensure.

— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.