COVER STORY
CPA EVOLUTION INITIATIVE IS BRINGING AN ALLNEW APPROACH TO CPA LICENSING
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ajor changes are underway that are transforming the CPA licensure model. The CPA Evolution initiative is bringing an all-new approach to licensing based on a critical purpose: meet the continuing demand for the skills and competencies required by the accounting profession today and into the future. The CPA Evolution initiative is a joint project of the National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs (AICPA). It will put in place a flexible and adaptable licensure approach that will serve as the foundation for future-proofing the CPA profession.
Over three years, NASBA and AICPA gathered input from more than 3,000 stakeholders from across the profession, including representatives from state boards of accountancy, academia, students, firms of all sizes, and state CPA societies. During these conversations, several key themes became clear: • The profession supports the need to change the CPA licensure model; • Newly licensed CPAs should all demonstrate strong common core competencies; • The new CPA licensure model should position the CPA for the future; and
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• The new CPA licensure model should continue to protect the public interest. Based on this feedback and lessons learned from studying other international and domestic licensure models, NASBA and AICPA developed the new approach. The initiative was approved by the AICPA Governing Council and the NASBA Board of Directors in 2020.
The New CPA Licensure Model The new model takes a Core + Discipline approach, starting with a deep and strong Core in accounting, auditing and tax with technology woven throughout that all candidates will complete. The sections will comprise content that every newly licensed CPA may be
