NASBA announced that they have extended the time to sit and pass the CPA exam from 18 months to 30 months after receiving over 850 comment letters. The original proposal was an increase to 24 months. In addition, the window is based on the date scores are released and not when the candidate sat for the exam. A big caveat is that NASBA has only changed the model rule. It is now up to the 55 State Boards of Accountancy to make changes at the state level.
The AICPA has issued the final blueprints for the new CPA exam which will launch in 2024. Based on the comments received in the exposure draft phase, the AICPA made updates and tweaks to the proposal and has issued the final blueprints.
NASBA is proposing changes to Rule 5-7 Retake and Granting of Credit Requirements related to the CPA exam. The date from which credit is calculated varies among the jurisdictions and with upcoming changes to the exam, NASBA is looking to streamline and provide for potential delays that may come out of the changes. Comments are due December 12, 2022.
As NASBA gets ready to transition the CPA exam to its new format, current students were eager to know what happens if a part they passed changes and how that would be considered for the new exam. Thankfully, NASBA has issued a very easy to understand transition model for students. The new exam is set to launch in 2024!
The AICPA is in the process of updating the CPA exam and is looking for CPAs to give them feedback as to whether their plan meets the needs of the profession. The survey should take 20 – 25 minutes to complete but will provide useful feedback to the AICPA and NASBA on how to proceed with their plan to launch a new CPA exam in 2024. Survey closes September 7.
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Melisa Galasso, CPA, CSP, CPTD
Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting.
Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI. She also supports essential professional development, audit level training, and train the trainer efforts.
Melisa is a Certified Speaking Professional, a Certified Professional in Talent Development (CPTD), and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers.
She also serves on the FASB’s Not-for-Profit Advisory Committee (NAC), AICPA Council, and the AICPA’s Women’s Initiative Executive Committee (WIEC). She also serves as a Subject Matter Expert for the Center for Plain English Accounting. She previously served on the AICPA’s Technical Issues Committee (TIC), the VSCPA’s Board of Directors, and is a past Chair of the NCACPA’s A&A committee. In addition, Melisa is the author of Money Matters for Nonprofits: How Board Members Can Harness the Power of Financial Statements by Understanding Basic Accounting which is available on Amazon or anywhere you purchase books online.
Melisa received a Top 50 Women in Accounting Award in 2021 by Ignition, is a 2020 Enterprising Women of the Year Award recipient, and was honored as a “40 under 40” by CPA Practice Advisor in 2017, 2018, and 2019. She was also named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.
