Legislation advances in Minnesota to relax 150-hour CPA requirement
Accounting Today
MARCH 8, 2024
A bill backed by the Minnesota Society of CPAs that would ease the path to a CPA license has moved forward in the Minnesota Senate.
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CPA Practice
JULY 5, 2023
The Minnesota Society of CPAs or MSCPA celebrated its 119 th anniversary in 2023, from the beginning crafting regulation and education to maintain high professional standards for clients, employers, and the public. MSCPA currently has four primary initiatives: 1. has been experiencing a slight decline in member.
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Going Concern
FEBRUARY 17, 2023
It was only a couple days ago that the Journal of Accountancy published an interview with NASBA CEO and President Ken Bishop in which Bishop sternly warns states against even thinking about lowering the CPA licensure requirement to 120 units, something something mobility blah blah. note: We agree.
The New Way CPAs are Delivering Value: Aligning Automation with Client Success
Profit in the Details: Rethinking Spend for Monumental Impact
Fall In Love With the Month-End Close
Building a Business Case for Finance Automation
Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape
Going Concern
FEBRUARY 24, 2023
That’s sort of what’s happening in the profession right now over proposed legislation in Minnesota that offers an alternative to the traditional 150 units of education required for licensure. That’s not to say Minnesota sucks, rather they are going up against the behemoth that is the AICPA.
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Going Concern
MARCH 17, 2023
Minnesota Society of CPAs has sent a message to educators in the state regarding legislation that would introduce an alternative pathway to CPA licensure and the message to these stewards of the next generation of accountants is clear: no one is trying to eliminate MAcc programs.
CPA Practice
MAY 23, 2023
The Minnesota Society of CPAs (MNCPA) introduced legislation this session at the Minnesota Legislature to broaden the pathways to CPA licensure, leading to many conversations with multiple stakeholders. The problem is there are not enough people earning CPA licenses. Objection No. Objection No. Objection No.
Going Concern
OCTOBER 13, 2023
Big 4 alum and professor of accounting and finance at the College of Saint Benedict and Saint John’s University in Minnesota Boz Bostrom has penned a piece for the MNCPA blog on why, in his opinion and supported by research, the 150 hour rule must change. This has been my challenge with Minnesota. The result is 26.4
Going Concern
APRIL 5, 2023
In a LinkedIn post published March 3 , CLA CEO Jen Leary — who graduated wayyyy back when only 120 units were required — threw her support behind Minnesota Society of CPAs’ initiative to add a second pathway that would allow CPA licensure at 120 units and two years of experience.
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Going Concern
MARCH 10, 2023
By Sharon Lassar, PhD, CPA (Florida) John J. A cut out in the article includes this quote, “Should any state or jurisdiction lower the licensure requirement to 120 hours, their CPAs would no longer be automatically substantially equivalent and would no longer enjoy the mobility and reciprocal practice privileges they currently are afforded.”
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The one that contains this quote: From the CAQ report “Increasing Diversity in the Accounting Profession Pipeline: Challenges and Opportunities” The EY survey report continues: CPAs bring desirable skills to C-level executive roles. Additionally, of the 652 CFOs surveyed in that study, close to 45% were CPAs.
Going Concern
MAY 22, 2024
Stephen Foley at Financial Times wrote something today that may be of interest to high school freshmen bound for the CPA track one day, an article that suggests the AICPA is giving up the fight to save 150 hours. And here’s what NPAG said about discussions they’ve had about the future of CPA education.
Going Concern
APRIL 25, 2023
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Rather, how dueling factions within the profession are fighting for and against keeping it as the only option to CPA licensure. Companies, not just CPA firms, are struggling to fill senior accountant roles and jobs for accountants with three to five years of experience. This has been my challenge with Minnesota.
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MAY 24, 2023
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The Ohio Society of CPAs announced yesterday that their state is leading the way in alternative pathways to CPA licensure, officially. 8, which includes OSCPA-backed legislation that will position Ohio as a national leader in addressing the dire CPA shortage. ’ This has been my challenge with Minnesota.
CPA Practice
MAY 25, 2023
The Minnesota Society of CPAs (MNCPA) introduced legislation this session at the Minnesota Legislature to broaden the pathways to CPA licensure, leading to many conversations with multiple stakeholders. The problem is there are not enough people earning CPA licenses. Objection No. Objection No. Objection No.
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Going Concern
MARCH 11, 2024
Minnesota’s proposal to add a second pathway to CPA licensure that doesn’t require 150 hours of education is moving forward in the MN Senate. The work continues to grow but the supply of CPAs to do the work isn’t keeping up. … EY laid off 150 people three days before Christmas last year. We need to move forward.
MyIRSRelief
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Certified Public Accountants (CPAs): CPAs are licensed accountants with expertise in tax matters. Verify their credentials, such as being an enrolled agent, tax attorney, or CPA, and check for any relevant certifications or affiliations. Tax Attorneys: Tax attorneys are lawyers who specialize in tax law.
Going Concern
JULY 24, 2023
Chief amongst their reasons was a lack of passion, followed by higher starting salaries for other majors and not wanting to pursue the additional academic hours necessary to become a CPA (i.e., To be sure, these students see the CPA license as a valuable certification, but they don’t view it as worthwhile to pursue.
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All-around awesome person Byron Patrick tweeted a bit of a manifesto on the 150 hour rule today and I want to share it as a movement to lower the CPA licensure requirement of 150 units to ease the CPA shortage is currently underway. A country with different req for the CPA is a nightmare.
CPA Practice
DECEMBER 14, 2023
The American Institute of CPAs has released information for accounting professionals on the potential impact to their out-of-state engagements if pending state bills altering licensure requirements are enacted. For more information, please visit the AICPA’s resource page on protecting CPA mobility.
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JANUARY 2, 2024
AICPA News is a recap of recent announcements from the American Institute of CPAs. AICPA Releases Guidance for CPAs to Comply with State Laws If a State Changes its Licensure Requirements The AICPA recently released information for U.S. For more information, please visit the AICPA’s resource page on protecting CPA mobility.
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The program blends rigorous online learning with on-the-job professional experience for college accounting graduates, offering a less costly and more flexible way to complete the 150-hour course credit requirement to become a licensed CPA. billion over the past decade. Kindre – Staff Accountant 3. Tyler – Tax & Accounting Intern 4.
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The Texas Senate unanimously passed a bill on Tuesday that would lower the eligibility requirement for CPA candidates to sit for the CPA exam from 150 semester credit hours to 120. Gov Patrick for passing one of TXCPAs priority legislation items of this session, which will help fuel the CPA pipeline. On to the House!!
Going Concern
NOVEMBER 27, 2023
note: the following was submitted as a letter to the editor by William Hahn, CPA (Florida and Ohio). One CPA candidate is able to meet the 150-hour requirement by using dual enrollment credits earned five years ago while still in high school. One CPA candidate might take this online course while another takes the 15-week course.
Going Concern
APRIL 25, 2023
by Sharon Lassar, PhD, CPA (Florida) John J. Going Concern previously reported the AICPA and NASBA are trying to strong-arm Minnesota into maintaining the 150-hour rule. Would NASBA truly exercise its power to take away mobility of CPAs licensed in states that drop the 150-hour rule? That question led to another.
Going Concern
DECEMBER 6, 2024
His profile states he is a formerly practicing CPA. A license lookup of Minnesota CPAs shows a license belonging to a Brian R. Up until recently, the Minnesota Board of Accountancy would automatically revoke any CPA license not renewed for two consecutive years.
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