AICPA, state CPA societies call for accounting program recognition

The AICPA and state CPA societies are calling on the U.S. Department of Education to explicitly include accounting programs in the regulatory definition of “professional degree programs.”

The organizations “strongly oppose any proposal that fails to recognize accounting as a professional degree program,” according to a news release. The Department of Education recently released proposed changes that would reclassify professional degree programs, including a proposed list that doesn’t include accounting.

“Recognizing accounting programs as professional degree programs is common sense,” Mark Koziel, CPA, CGMA, the president and CEO of the AICPA, said in the release. “It reflects the impact accountants make on the lives of individuals, the health of communities, and the integrity of financial systems, as well as the rigorous path taken to become a licensed [CPA].”

The definitions of professional degree programs help determine education loan eligibility, which, according to the release, can be a critical differentiator for a student striving to complete an accounting degree program and become a CPA.

Becoming a licensed CPA involves meeting specific education requirements, passing the CPA Exam, and completing work experience under the supervision of another CPA. CPAs throughout their careers are bound by the ethical requirements of the AICPA Code of Professional Conduct and must complete ongoing professional education, among other requirements, to remain licensed.

According to the news release, the government’s projections suggest that demand for accountants will continue to outpace demand for jobs in general through 2034 (5% growth vs. 3%, according to the U.S. Bureau of Labor Statistics), making it even more critical that support mechanisms remain in place.

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