9 posts categorized "CPA Evolution" Feed

Do colleges prepare future CPAs? Three key insights

Shutterstock_1368244235Whether a professor has taught thousands of students throughout their career or is new to the classroom, they aim to give students a strong foundation in the relevant competencies and skills for their major and future career. As professions evolve, the curriculum to develop young minds must keep pace. The CPA profession and accounting programs are no different.

I have been in accounting academia for many years, most recently as an associate professor of accounting at Sam Houston State University. To keep my classes relevant, I have consistently modified the curriculum in response to changes in the professional environment. As an academic, it is vital to prepare students to successfully enter the marketplace.

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CPA licensure: one step closer to change

GettyImages-615258648 (1)You may be familiar with CPA Evolution, a joint initiative of the National Association of State Boards of Accountancy (NASBA) and the AICPA that we’ve been discussing for more than a year.

In May, I wrote about the AICPA Council voting in support of advancing CPA Evolution. On July 24, NASBA’s board of directors also voted in support of advancing the initiative. Thank you to AICPA’s board of directors, AICPA Council, NASBA and NASBA’s board of directors for their support and the leadership they’ve provided since our two organizations began this initiative in 2018. I’d like to thank all of you as well for providing us with advice and ideas along the way.

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Another step closer to evolving CPA licensure

GettyImages-609799244On Wednesday, May 20, we took a big step toward propelling the CPA profession into the future.

If you read the blog posts I wrote in JanuaryMay and July of 2019, you’ll be familiar with CPA Evolution — a joint effort of the AICPA and the National Association of State Boards of Accountancy (NASBA) to design and implement a new approach to CPA licensure.

Our goal is to transform the CPA licensure model to recognize the rapidly changing skills and competencies the practice of accounting requires today and will require in the future.

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Preparing accounting students for a changing profession

GettyImages-635957998We are in an unprecedented time of change for the accounting academic community. I’ve seen a fire lit beneath educators the likes of which I’ve never seen before as it relates to evolving their classrooms and curricula. Accounting programs have had to quickly make changes, like adapting to full-time remote learning almost overnight in response to the coronavirus pandemic, as well as longer-term changes to ensure programs are preparing the next generation of accountants for the realities of a rapidly evolving business environment.

Research conducted by the AICPA found that public accounting firms are hiring fewer new accounting graduates. Instead, they’re hiring more non-accounting graduates who possess different skill sets, particularly those related to technology. Practitioners are increasingly advising schools that accounting curricula need to help students gain a better understanding of technology and its applications within the profession.

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Our proposal to evolve CPA licensure

GettyImages-959023366It’s that time of year when everyone reflects on the past and looks forward to a positive future with personal and professional planning, and new and fresh ideas. You may have some New Year’s resolutions you’d like to accomplish. I have two: From a personal perspective, I’ll look at my financial and personal health. From a professional perspective, I’ll look at planning and execution around securing the future and value of the profession. On the latter, I’m working on a number of initiatives to advance the value of the profession, including the development of technology-based tools to enhance the efficiency, quality and value of audits. Many of you are already starting busy season and are focused on getting through a mountain of work over the next few months.

Whether we’re plotting our 2020 goals or just focusing on getting to March 30 or April 15, we need to think long term. How do we ensure that the future of our profession is bright and that the CPA maintains its strength and relevance for decades to come?

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5 principles for evolving CPA licensure

GettyImages-171282691What does the CPA of the future look like? Does that person need the same skills and competencies CPA licensure requires today—or should changes be made to expand the pipeline of talent the profession needs for the future?

As technology continues to change the services we perform and the way we deliver them, the National Association of State Boards of Accountancy (NASBA) and the AICPA are exploring whether initial CPA licensure requirements need to change to be more inclusive of those who have expertise in technology and analytics. You may have read about our CPA Evolution initiative in a blog post I wrote in January or a follow-up post I wrote in May sharing what CPAs had to say about evolving licensure.

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Father’s Day wisdom: A CPA dad’s advice

Shutterstock_1074903578In 1981, Paul Stahlin, CPA, CGMA, and a former Chair of the AICPA, got his CPA license. Thirty-three years later, his daughter Emily followed in his footsteps by becoming a CPA as well.

The CPA profession of today isn’t the same as the profession of 1981. Technological innovation has created new opportunities for CPAs to provide value and has even changed how CPAs deliver core services. But even throughout all this change, some lessons Paul has learned in his career still ring true today. In honor of Father’s Day, Paul wrote this letter to Emily to share his advice on how she can thrive in her career as a CPA.

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How your feedback is shaping and evolving CPA licensure

GettyImages-507831914Back in January, I wrote about the CPA Evolution initiative, a joint project with the National Association of State Boards of Accountancy (NASBA) to explore integrating technological and analytical expertise into initial CPA licensure requirements.

I was thrilled that so many of you sent me emails with your thoughts on the blog post and the need for “CPA” to evolve with the ever-changing business landscape. Clearly, you all are very passionate about keeping the credential strong and relevant.

A few themes emerged from your feedback. Since your insights are so valuable to this initiative, I wanted to share them with you as NASBA and the AICPA continue our discussion throughout 2019. Here’s what I heard:

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Evolving tech could mean evolving the CPA license

Shutterstock_1023191287Throughout 2018, you heard a lot about the changing accounting profession. The biggest driver behind all this change? Technology—what it can do for us (or to us), how to use it and the opportunities and challenges it presents.

We’re using emerging technologies to deliver our core services more effectively and efficiently, and we’re evolving the services we offer to better meet the public’s, our clients’ and our employers’ needs in a technology-driven marketplace.

And so, a couple of questions arise: Are the public, our clients and our employers better served if the CPA license and licensure process evolve to better reflect the changing marketplace? If yes, what does that look like? The National Association of State Boards of Accountancy (NASBA) and the AICPA have joined forces with state regulators, state societies, practitioners and other stakeholders to figure it out.

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