VSCPA Board Votes to Support CPA Evolution Initiative
May 8, 2020
On April 29, 2020, the VSCPA Board of Directors voted to support the CPA Evolution initiative, a new model for CPA licensure proposed by the American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy (NASBA).
"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. "The VSCPA Board discussed the CPA education, experience and exam requirements at length and ultimately determined to support the initiative of the AICPA and NASBA, which allows CPA candidates to continue to receive the accounting and taxation skills they need but also focus on information systems and controls if they choose."
The proposed new model for CPA 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
Once the candidate selects a discipline, they are not limited to only practicing in that area, however. The discipline is just an opportunity to demonstrate deeper skills and knowledge.
For more information, check out the CPA Evolution page from the AICPA and NASBA, which includes FAQs.