CPA Competency-Based Experience Pathway & UAA Exposure Draft
On September 12, the AICPA & NASBA issued an exposure draft on the CPA Competency-Based Experience Pathway, offering an additional pathway for CPA candidates to meet initial licensure requirements in response to pipeline issues instead of earning a master’s degree or a bachelor’s degree and up to 30 additional credit hours at an institute of higher learning. Under this alternative pathway, CPA candidates would need a bachelor’s degree, complete one year of professional general experience, pass the CPA Exam, and exhibit competency in specific professional & technical areas. In addition, on September 30, the AICPA & NASBA issued an exposure draft on proposed Uniform Accountancy Act changes. The proposed changes to the UAA would facilitate the adoption of the Competency-Based Experienced Pathway. Comments are due on the CPA Competency-Based Experience Pathway by December 6, and comments on the UAA are due by December 30.