NASBA Board of Directors Makes Crucial Decision on CPA Evolution

NASBA Board of Directors Makes Crucial Decision on CPA Evolution

NASHVILLE, TENN (July 27, 2020) – 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 to design and implement a new approach to CPA licensure. CPA Evolution is a joint initiative between NASBA and the American Institute of CPAs (AICPA). In recent years, NASBA and the AICPA have monitored trends impacting the skillsets required of newly licensed CPAs and believe the CPA Evolution initiative will aid in positioning the CPA license for the future as well as continue to protect the public interest.

“The CPA profession is too important to our society and to our economy to not be 100% prepared and ready to respond to changing demands,” shared NASBA Chair Laurie Tish, CPA. “CPAs entering the profession must be prepared with the skills and knowledge necessary to serve in this trusted role. The new licensure model will be more attractive to the best and the brightest, which will enhance the CPA pipeline.”

The CPA Evolution initiative aims to ensure newly licensed CPAs have the required knowledge and skills best suited to serve clients, businesses and the public-at-large. As the profession and the world navigate a new normal, education required of CPA candidates, as well as the CPA Exam, itself, will adapt to address the emerging skills and competencies necessary in today’s 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 work through the tough issues to develop a model that has widespread support. “NASBA and AICPA will maintain continuing engagement with state boards, state CPA societies, academia, CPA firms and others to identify gaps, and develop new resources to aid in transition to the new licensure model,” says Tish.

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. The AICPA and NASBA will work closely with universities to create model curriculum and internship programs.  They will also now move forward with a significant effort to revise the Uniform CPA Exam’s content and skills blueprint, which is anticipated to culminate in the launch a new CPA Exam in January of 2024.

In May 2020, NASBA released the Uniform Accountancy Act (UAA) Model Rules exposure draft related to education requirements for licensure. The proposed changes, which are relevant to the CPA Evolution initiative’s charge, pertain to educational requirements for individuals seeking to enter the CPA profession, and are aligned to encourage uniformity among the 55 U.S. jurisdictions. Pending support from Boards of Accountancy for the UAA Model Rules exposure draft, NASBA will begin encouraging boards to implement model statutory and rule changes in education, beginning as early as Fall 2020.

For more information about the CPA Evolution initiative, please visit evolutionofcpa.org.

Source: NASBA Website

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Last updated: February 6, 2021

Please read these Terms and Conditions (“Terms”, “Terms and Conditions”) carefully before using the https://cpaexamcoach.com website and any of its mobile applications (the “Services”) operated by Mabstac, LLC (“Mabstac”, “us”, “we”, or “our”). Your access to and use of the Service(s) is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Services. By accessing or using the Services you agree to be bound by these Terms. If you disagree with any part of the terms, then you may not access the Services.

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You may from time to time provide Mabstac with suggestions, ideas or other feedback regarding the Services (“Feedback”). Both parties agree that Mabstac shall own such Feedback and is entitled, but not obligated, to use, develop and exploit it in any manner, without restriction or duty to compensate or seek permission from you.

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Where access to the Services has or will be provided to you through your institution or school’s (“Institution’s”) online learning management system using a ‘single sign on’ (SSO), then in accessing this Services you consent to Mabstac:

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  2. disclosing personal information to your Institution directly relevant to your use of the Services, such as results of assessments set by instructors and other analytics regarding your access to the Services.

Miscellaneous

We make no representation that the Services are appropriate or available for use in your location, and accessing them from locations where their contents are illegal is prohibited. If you choose to access this site from any such locations, you do so on your own initiative and are responsible for compliance with local laws. These Terms of Service represent the entire agreement between us and supersedes any proposals or prior agreements, oral or written, and any other communication between us relating to the subject matter of these Terms of Service. We reserve the right, at our discretion, to update or revise these Terms of Service. Please check the Terms of Service periodically for changes. Your continued use of the Services following the posting of any changes to the Terms of Service constitutes acceptance of those changes. Please note that by using the Services, you agree that you are entering into a legally binding agreement (even if you are using the Services on behalf of a company). You acknowledge that you have read these Terms of Service, and agree to be bound by its terms and conditions. The laws of the country set forth below shall apply according to your country of residence, without regard to conflicts of law rules. The corresponding jurisdiction shall be the forum for adjudication of all disputes arising in connection with this agreement:

For the United States and all countries not expressly stated, the applicable law will be Commonwealth of Virginia, and the agreed jurisdiction will be Fairfax, Virginia.

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