The CPA designation is one step closer to evolving into a new model of licensure after unanimous approval from the National Association of State Boards of Accountancy (NASBA) Board of Directors. CPA Evolution is a joint initiative between NASBA and the American Institute of CPAs (AICPA) in which the licensure starts with a core that all candidates are required to complete: accounting, auditing, tax and technology. Then, candidates can choose to focus on a discipline to demonstrate deeper skills and knowledge. These three disciplines are:
- Tax compliance and planning
- Business reporting and analysis
- Information systems and controls
The VSCPA Board of Directors voted to support CPA Evolution on April 29. 2020. "The business environment is rapidly changing, and it has become clear to the CPA profession as a whole that the requirements for licensure need to evolve to meet the demands of this new reality," said VSCPA President & CEO Stephanie Peters, CAE.
Let Your Voice Be Heard!
For CPA Evolution to become official, the Uniform Accountancy Act (UAA) Model Rules around educational requirements for licensure must be updated. Those changes, which were endorsed by AICPA’s Board of Directors, are currently exposed by NASBA for public comment through Aug. 31, 2020. Email any comments or recommendations to the UAA Committee.