Certified Public Accounting (CPA)

Certified Public Accounting (CPA)

Certified Public Accounting (CPA) is an accounting and tax professionals who have passed the Uniform CPA examination and further met experience requirements. In this news report, the author examines the conditions of the CPA and the intended new requirements that govern CPA certification. There is an effort that seems to very essential to ensure that CPA certification becomes relatable in society. The current qualifications seem to be outdated, as the skills needed for CPA credentials have also changed. This would ensure that CPA professionals have the relevant skills to tackle current accounting problems.

According to the proposed changes, CPA candidates should show excellent skills and knowledge in one of the following three areas; tax compliance and planning, business reporting and analysis, and information systems and controls. These are the main pillars of the accounting profession. Information systems are essential in the accounting sector because of the demand for relevant information while making accounting reports and audits.

The fact that most stakeholders in CPA licensing are supporting the qualification credential advancement shows the importance of the same. The AICPA, a federal body, voted in support of the CPA evolution initiative. The changes are only awaiting the approval of the National Association of State Boards of Accountancy (NASBA).

I find this article interesting because it shares information on how decisions are met on advancing or changing professional accounting qualifications. I did not know how such decisions are reached, and I also did not realize that the two bodies AICPA and NASBA must all vote for the approval of CPA licensing guidelines. I believed that a joint committee is made to review CPA credentials, but the article has enlightened me on changing CPA licensing requirements.