State leaders clear misconceptions about 150 hours

Leaders from the six largest CPA societies coauthored an article on March 14 addressing misconceptions about making changes to CPA licensure requirements.

As the profession begins reevaluating the 150-credit-hour requirement to address the ongoing shortage of accountants, discussions have sparked both questions and misconceptions. Addressing 10 common misconceptions were Geoffrey Brown from the Illinois CPA Society, Jennifer Cryder from the Pennsylvania Institute of CPAs, Denise LeDuc Froemming from the California Society of CPAs, Calvin Harris Jr. from the New York State Society of CPAs, Jodi Ann Ray from the Texas Society of CPAs and Shelly Weir from the Florida Institute of CPAs. 

"Change can be challenging, but it is also necessary," said the article. "The CPA profession has always evolved to meet the needs of the business world, and this latest step ensures that future CPAs will be well-equipped for success. As leaders of the CPA profession in our respective states, we are committed to supporting candidates, educators and employers through this transition."

The top 10 misconceptions are:

1. "We are lowering the standards, and the 150-hour requirement is dead;"
2. "The licensure pathway is changing, but mobility is not being addressed;"
3. "An accounting concentration is the same as an accounting major;"
4. "This change can right all past issues in the profession;"
5. "This licensure change alone will solve the talent shortage;"
6. "This change is easy and without risk;"
7. "Once we change licensure laws; everything else will fall into place;"
8. "A single state can implement these changes alone;"
9. "This just another minor adjustment;" and,
10. "The decision was made without broad input."
    

The article also highlights the importance of the CPA license as a symbol of trust, expertise and accountability, and emphasizes the need for changing the licensure requirements.
"The business landscape has transformed dramatically in recent years, with advancements in technology, evolving regulatory requirements and increasing market complexities reshaping the role of CPAs," the article reads. "The CPA licensure model must adapt to ensure that new professionals are equipped with the skills and knowledge necessary to meet these growing demands."

Accounting Opportunities Experience

Separately, the American Institute of CPAs, along with state CPA societies, announced completion of the annual Accounting Opportunities Experience in November 2024.

The Accounting Opportunities Experience is a combined effort between the profession, state societies, state governments and high schools to dispel stereotypes about accounting and show students how successful they can be in this career. This year's initiative was the most successful yet, with 44 participating state societies that sent over 1,200 volunteers to 895 schools across the country. They reached 40,851 students, up 70% from the prior year. 

"A career in accounting opens so many doors and can offer interesting, fulfilling work while at the same time offering high earning potential," Christin Hunter, senior manager of CPA pipeline student and candidate membership at the AICPA, said in a statement. "CPA volunteers for the Accounting Opportunities Experience were able to share practical insights into how they navigated their way into the profession, as well as the impact they make each day. It's important for young people to see examples of who they can become — the more we connect with students, the more we can inspire them to explore this great career."