STUDENT AND PROFESSIONAL PERCEPTIONS OF CPA EVOLUTION

Abstract

The Uniform Certified Public Accountant (CPA) Examination is the professional exam administered to individuals who wish to become a licensed CPA. The CPA Exam is comprised of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). However, rapidly changing skills and competencies required in the modern practice of accounting have led the National Association of State Boards of Accountancy (NASBA) Board of Directors and the American Institute of Certified Public Accountants (AICPA) Governing Council to adopt the CPA Evolution initiative. Through this initiative, NASBA and AICPA will develop a new core + discipline licensure model and implement a new CPA Exam in January 2024. The CPA core + discipline licensure model will be comprised of three of the former sections, AUD, FAR, and REG, as well as the option to choose one of the following disciplines: Tax Compliance and Planning, Business Analysis and Reporting, or Information Systems and Controls. The purpose of this study is to better understand student and professional perceptions of the CPA Evolution initiative. We aim to understand which disciplines are a better fit for specific career paths including audit, tax, and consulting and whether a certain discipline will make the CPA more marketable to firms and corporations in various industries. Additionally, we will investigate the advantages of technology integration into the CPA Evolution core + discipline model including what CPAs should know about accounting technologies and what portion of this knowledge should be taught in undergraduate and graduate accounting programs versus in the field. Our study also examines whether the changes made to the CPA Exam will change perceptions of the difficulty of the exam and thus change individuals’ willingness or desire to take the CPA Exam. We also aim to understand student and professional perceptions of significant accounting changes facing the accounting industry and technical and soft skills desired by employers who aim to hire CPAs.