KPMG Calls for Change: Time to Revisit CPA 150-Hour Rule
- The CPA qualification in the U.S. requires 150 semester hours, which is perceived as a barrier to potential candidates in the accounting field.
- KPMG supports proposals to provide alternatives to this requirement, including work-study programs to facilitate early experience.
- Such changes aim to address talent acquisition issues and adapt to an evolving technological landscape in accounting.
In the United States, the CPA qualification process currently mandates 150 semester hours of college education, a requirement that has drawn criticism for making the profession less accessible. This additional 30 hours compared to the typical bachelor's degree can deter potential candidates from pursuing accounting careers. KPMG, having recently increased salaries, advocates for revising this rule, suggesting alternatives like work-study programs to enhance accessibility and attract talent. The company emphasizes the importance of gaining practical experience in a technologically evolving landscape, where accountants need to adapt quickly to advanced tools. In contrast, state regulators express concerns over varying requirements impacting the standardization of CPA licensing across different states. This regulatory landscape may affect how easily accountants can practice in multiple states, potentially complicating career paths in the field.