Erica Kinstrey Jones

Given the current and future CPA shortage, it seems like a good idea to consider all factors that may attract, deter and retain industry professionals. Here’s one. The 150-hour requirement for CPA certification has long been a topic of debate within the accounting profession. Recent data suggests the need for a re-evaluation of this mandate, particularly in terms of its impact on diversity and inclusion. 📉 A study from MIT Sloan highlights a concerning trend: the implementation of the 150-hour rule has led to a 26% decrease in minority entrants into the profession compared to their non-minority counterparts. The study used public data and covered years 1986 – 2019. The study reflected an overall 14% decline in all new CPAs during that time. The added financial and time burden of obtaining the extra 30 credit hours, often equating to an additional year of education, along with salaries that lag behind finance & analytics majors may have be a factor to less accounting majors. ❓ Further complicating the issue, a 2024 survey conducted by the New Jersey Society of CPAs revealed that 62% of respondents see no significant skills difference between CPAs with 120 credit hours and those with 150 hours. Does this mean that the additional coursework may not necessarily translate to better-prepared professionals? Given these insights, it may be time for the accounting profession to reassess the 150-hour rule. The goal should be to ensure that the pathway to becoming a CPA is rigorous yet thorough. Minnesota is leading the way with proposed legislation that would require 120 credit hours, passing the exam and two years of professional service. 💡 Revisiting the requirement could mean rethinking how we structure the CPA preparation process, including – like Minnesota - by integrating more practical experience opportunities or providing alternative pathways that do not compromise the quality of education or preparation but reduce the financial burden on students. 🤝 Let’s face it – AI and offshoring may be short-term band aids, but neither is the permanent long term fix to the CPA shortage. Time to consider all angles. And perhaps reconsider that 150-hour rule that seemed like a great idea 25+ years ago. #Accounting #CPA  #150HourRule #CPACertification #CPACareer

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CPA Exam News 📣 Starting this month, testing for the US CPA Exam is now being offered in the Philippines! Learn more about this exciting update from the AICPA and NASBA: https://lnkd.in/gbArd_iG

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CPA Exam Score Release Dates for 2025 CPA Exam scores are released on a rolling basis throughout the year. The AICPA shares when you can expect to receive your score after sitting for a section in 2025. This helps you to better plan your testing schedule. https://lnkd.in/gKtbM4-u #tipoftheweek #accounting #accountingstudents #cpa

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I don't know about anyone in the accounting world, but from my view, I'm tired of seeing articles about the shortage of accountants! Most of them suggest the same thing - higher, pay, a quicker path to the CPA, etc. but no plan on how to actually do that. This article, however, really intrigued me because it shows action on how to actually solve the issues mentioned above. No only is there a link to an 88-page proposal on how to fix the talent shortage of accountants, the part in here I really liked was about St. Peter's College has a work-for-credit program with PwC. Not only are you giving prospective accountants a quicker route to the CPA, you're also giving them real-life work experience and a path into one of the Big 4 accounting firms. Reminds me a lot of the co-op program at my alma mater, Drexel University. #accountants #CPA #big4 #pwc #recruiting #accounting #finance Jim DurkanRitesh "Tesh" Patel, MBAAlexa KeeganJacob VottaDaniel FuimanRobert KochBryan Gilbert, MBANicholas LoseeKyle Melahn, MBARobert BumbacoAshley R.Natasha SeabraBailey KonradKevin MillevoiBill Bernschein, CFE, PGA

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Auditor independence is an area of common deficiencies year after year, according to PCAOB inspections.

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Why waste time sifting through endless job board applications, many of which aren't the right fit? Working with a recruiter can save your firm invaluable time and resources with ✔️ Customized Search ✔️ Vetted Candidates ✔️ Requirements Matching ✔️ Interview Coordination and more... #hiring #recruiter #recruiting #recruitment

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CPAs/Accountants: There's good news, bad news, and good news again! The good news is that Client Advisory Services (CAS) is a booming new growth and profit segment for accounting firms. The bad news? CAS sounds complex and perceived as if it takes a long time to find CAS success. The good news again? There are seven proven secrets to CAS success! Datamatics Business Solutions | Outsourcing EXCLUSIVELY for CPA/Accounting Firms

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The accounting profession is undergoing a major transformation, and tech-savvy CPAs are leading the charge. From record-keeping to billing, digital tools are streamlining processes and giving CPAs more time to focus on strategic advisory roles. Whether you're new or a veteran in the industry, now’s the time to embrace the tools that will give your practice an edge. Learn how digital applications are reshaping the way we work 👉 https://lnkd.in/geV7eZcS #CPATech #DigitalTransformation #Fintech #FutureOfAccounting #Automation #AccountingInnovation #TechSavvy

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New CPA Paths Emerge as States Try to Stem Accountant Shortage The 150-hour requirement for CPA licenses that mandates a master's degree or additional college credits has been viewed as a barrier to entry for many prospective accountants. Industry groups have proposed a new framework intended to stem the ongoing accountant shortage, while several states are pursuing their own proposals. Read more about these emerging CPA paths in The Wall Street Journal. https://lnkd.in/gfWsArhH #AccountantShortage #CPAShortage #FinanceAndAccounting

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