AICPA and NASBA seek feedback on CPA licensure pathway in September 2024

On September 12, 2024, the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) announced a proposed initiative aimed at enhancing the CPA licensure process. This initiative introduces a Competency-Based Experience Pathway, which allows CPA candidates to demonstrate their skills after completing their bachelor's degree and meeting state accounting course requirements. The pathway is designed to provide flexibility while ensuring public protection through a rigorous competency framework developed with input from various stakeholders in the accounting profession. The proposed framework includes seven professional competencies, such as ethical behavior and critical thinking, and three technical competencies. Candidates must exhibit all professional competencies and at least one technical competency, with verification by licensed CPAs in their workplace. This approach aims to adapt to current market conditions and the evolving needs of the accounting profession. The comment period for public input on this proposed pathway will remain open until December 6, 2024. Feedback from the accounting community is deemed essential for refining the framework and ensuring its effectiveness. NASBA President and CEO Daniel J. Dustin emphasized the importance of this initiative in strengthening the CPA pipeline and maintaining the profession's integrity. This initiative reflects a broader effort to modernize the CPA licensure process, making it more accessible while upholding the high standards expected in the profession. By incorporating feedback from various stakeholders, AICPA and NASBA aim to create a pathway that meets the needs of future accountants and the public they serve.