Other Ways We’re Helping
While our primary focus is on students, scholarships, 30-hour communications, and business model culture, we also support other aspects that impact the pipeline.
Extending 18-Month Exam Window
Working with the National Association of State Boards of Accountancy (NASBA), the AICPA has been exploring what changes are needed to keep students progressing through the CPA Exam to licensure while ensuring the Exam testing window isn’t shutting out qualified candidates.
Significant progress has been made on a permanent extension of the 18-month window to pass all parts of the CPA Exam. The Uniform Accountancy Act has been amended to allow candidates 30 months to pass the CPA Exam after they pass the first part. This step toward additional flexibility for candidates who wrestle with time constraints would not have been possible without the engagement of so many stakeholders, including state CPA societies.
The North Carolina State Board of CPA Examiners unanimously approved a proposed rule change supported by NCACPA to expand the CPA Exam credit window from 18 months to 30 months. The change was approved by the Rules Review Commission of the Office of Administrative Hearings and went into effect April 1, 2024.
STEM Recognition
Accounting is often overlooked when discussing STEM (Science, Technology, Engineering, and Math) career paths, even though the profession is rapidly evolving to demand a new generation of professionals skilled in both financial expertise and technological prowess. By including accounting as a STEM-related discipline, we can better highlight the technical, analytical, and problem-solving capabilities that accountants bring to the table, which will be essential for the profession’s continued evolution and success.
Legislation like the STEM Accounting Pursuit Act and the STEM Education in Accounting Act, currently before Congress, would officially designate accounting as a STEM field. This would open the door for K-12 schools to utilize federal STEM funding for accounting education programs, helping attract more students with STEM interests to consider this rewarding career path. NCACPA has issued its support for these bills and is encouraging members to reach out to their federal legislators as well.
Expansion of 529 Funds
The AICPA is collaborating with federal legislators regarding the Freedom to Invest in Tomorrow’s Workforce Act (H.R. 1477). This bill aims to broaden the use of 529 funds to include expenses required to obtain or maintain recognized postsecondary credentials, including CPA-related costs such as Exam fees and exam review courses.
During visits to Capitol Hill to meet with North Carolina’s federal legislators, leaders from NCACPA engaged in discussions encompassing several key issues, including the proposed expansion of 529 funds. NCACPA’s advocacy efforts, in conjunction with the AICPA, underscore the profession’s commitment to supporting aspiring CPAs and facilitating their path to credential attainment and career advancement.