The Pennsylvania Senate will vote today on whether to change the requirements to become a certified public accountant to allow for a broader base of experience.
Here are the requirements under the current law, according to the Pennsylvania Institute of CPAs:
• 150-credit candidates must complete one year (1,600 hours) of work experience, with 400 of those hours involving attest activity within five years of the date of application.
• 120-credit candidates must complete two years (3,200 hours) of work experience, with 800 of those hours involving attest activity within five years of the date of application.
Under House Bill 40, however, the requirement would change to completing one year (1,600 hours) of experience through employment in government, industry, academia or public practice to qualify for the CPA certificate within five years of the date of application. The work experience would expand to include accounting, compilation, consulting, financial advisory, management advisory or tax work, as well as attest work.
Pennsylvania is one of only three states that still requires “a specific amount of attest function work” to obtain a CPA license, according to a blog post by Mike Colgan, CEO and executive director of PICPA. PICPA has been championing the changes, according to its website.
The Senate is set for a final vote on the bill this afternoon.