CPA Regulators and Profession Jointly Explore Evolving Licensure Model
NASHVILLE & NEW YORK--(BUSINESS WIRE)--Nov 29, 2018--Leaders of the CPA profession, the regulatory community and representatives from critical stakeholder groups are joining together to explore possible changes to the CPA licensure model that embrace the need for expanded skillsets of professionals. The goal of the effort is to align licensure with how CPAs will perform services in an increasingly technologically-driven environment.
The CPA Evolution Working Group, which is having its second meeting today, was formed by the National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs (AICPA).
The Working Group consists of representatives from Boards of Accountancy, state CPA societies, CPA firms of all sizes from around the country, the accounting academic community, and NASBA and AICPA volunteer committees. They have been tasked with advising NASBA and the AICPA on actions that would position the profession for the future while continuing to protect the public interest.
“Technological innovation and changing client demands are rapidly transforming the skills accountants need to thrive,” said Working Group Chair Cathy Allen, CPA, a managing member of Audit Conduct LLC and a member of NASBA’s Board of Directors. “We want to reimagine the CPA learning and licensure approach. Working Group members recognize the critical role of technological and data analysis expertise needed in firms and businesses today. Our goal is to recommend a strategy that provides the guiding principles for how to build related knowledge and skills into accounting curricula and how to test for those proficiencies on the CPA Exam.”
In the last year, the AICPA and NASBA have discussed potential alternatives to the current licensure model with key stakeholders and have gathered valuable initial feedback. A principal theme that has emerged from the feedback is support for action to evolve the approach to licensure.
“We really value the early engagement we’ve seen from the profession’s key stakeholders,” said Susan S. Coffey, CPA, CGMA, AICPA executive vice president for public practice. “Based on what we’ve heard, there is no question that the profession is ready to take action to capitalize on the opportunities that technology presents to us. That includes an evolution in our approach to licensure that embraces the changes and continues our public protection mandate. I’m looking forward to the Working Group’s recommendations and engaging with the profession and our key stakeholders throughout 2019.”
The Working Group will meet again this winter, and recommendations on a path forward regarding the licensure model are expected to be shared with state boards, state societies, CPAs and other stakeholders next year.
In addition to Allen, CPA Evolution Working Group members are:Tom Broderick, CPA, CGMA, managing principal, BPW&C Mark Dawkins, CPA, CGMA, CMA, dean, Coggin College of Business, University of North Florida Clay Huffman, CPA, senior manager, Frazier & Deeter, LLC Nancy Wolven-Juron, CPA, partner, Deloitte LLP Audrey Katcher, CPA/CITP, CGMA, CISA, partner, RubinBrown LLP Rick Niswander, CPA, CGMA, professor, East Carolina University Todd Shapiro, president and CEO, Illinois CPA Society Susan Somers, executive director, Kansas Board of Accountancy Michael Womble, CPA/ABV/CFF, CVA, MAFF, ASA, managing partner, Williams Overman Pierce, LLP
About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 431,000 members in 137 countries and territories, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.
The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.
Media representatives are invited to visit the AICPA Press Center at www.aicpa.org/press.
Since 1908, the National Association of State Boards of Accountancy ( NASBA ) has served as a forum for the nation’s Boards of Accountancy, which administer the Uniform CPA Examination, license more than 650,000 certified public accountants and regulate the practice of public accountancy in the United States.
NASBA’s mission is to enhance the effectiveness and advance the common interests of the Boards of Accountancy in meeting their regulatory responsibilities. The Association promotes the exchange of information among accountancy boards, serving the needs of the 55 U.S. jurisdictions.
NASBA is headquartered in Nashville, TN, with a satellite office in New York, NY, an International Computer Testing and Call Center in Guam and operations in San Juan, PR. To learn more about NASBA, visit .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181129005153/en/
CONTACT: Jay Hyde, AICPA
Thomas Kenny, NASBA
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK TENNESSEE
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT PROFESSIONAL SERVICES ACCOUNTING BANKING CONSULTING FINANCE
SOURCE: American Institute of CPAs (AICPA)
Copyright Business Wire 2018.
PUB: 11/29/2018 07:00 AM/DISC: 11/29/2018 07:01 AM