NASBA Approves New CPA Licensure Model
The National Association of State Boards of Accountancy (NASBA) Board of Directors has announced its unanimous vote of support for the advancement of the CPA Evolution initiative, a joint initiative between NASBA and the American Institute of CPAs (AICPA), to design and implement a new approach to CPA licensure. The AICPA’s Governing Council also acknowledged its support of CPA Evolution by overwhelmingly voting in favor of advancing the initiative at its May 2020 meeting.
In recent years, NASBA and AICPA have monitored trends impacting the skillsets required of newly licensed CPAs. CPA Evolution aims to ensure newly licensed CPAs have the required knowledge and skills best suited to serve clients, businesses, and the public in an ever-changing profession and marketplace. The new core plus discipline model will allow candidates to show enhanced competency in a chosen discipline within the profession.
NASBA and AICPA sought input from state Boards of Accountancy, state CPA societies, and many other stakeholders to develop a model that has widespread support. They will continue to work together with stakeholders to identify gaps and develop resources in transition to the new model. AICPA and NASBA will also work closely with universities to create model curriculum and internship programs. Additionally, NASBA and AICPA will move forward to revise the Uniform CPA Exam’s content and skills blueprint, which is anticipated to culminate in the launch of a new CPA Exam in January 2024.
In May 2020, NASBA released the Uniform Accountancy Act (UAA) Model Rules exposure draft related to education requirements for CPA licensure. The proposed changes, which are relevant to the CPA Evolution initiative, pertain to educational requirements for individuals seeking to enter the profession and are aligned to encourage uniformity among the 55 U.S. jurisdictions. Pending support from Boards of Accountancy for the exposure draft, NASBA will begin encouraging boards to implement model statutory and rule changes in education beginning as early as fall 2020.