On Mar. 26, a bill was introduced in the New York State Senate to create an additional path to CPA licensure that would require a bachelor's degree, passing of the CPA exam and two years of professional experience.
Senate Bill S6891 was introduced by Democratic New York State Senator Toby Ann Stavisky, who is chair of the committee on higher education.
Aside from introducing an additional pathway, the bill also amends section 7406 of the education law to seek to shift to an "individual-based" mobility model that incorporates a CPA's ability to practice across state lines. The amendment would also add language to ensure CPAs meet exiting licensure requirements.
The bill, which would be effective immediately if signed into law, still allows for the 150-credit hour with one year of experience pathway. It is currently sitting in Senate committee waiting to be brought to the Senate floor to be voted on.
New York is like many other states that are in various stages of introducing bills to create an alternative pathway to CPA licensure in order to alleviate the pipeline shortage. The most recent example of this is North Carolina.
There are three states—Ohio, Virginia and Utah—that are in a more advanced stage of easing licensure requirements. Utah is the latest state among the three to pass legislation that expands "pathways for aspiring CPAs."
According to the Utah Association of CPAs, the newly passed legislation broadens access to CPA licensure by establishing an alternative route: candidates can now qualify with a bachelor’s degree, two years of professional experience and successfully passing the CPA exam.
Relatedly, NextGen Magazine reported that AICPA and the National Association of State Boards of Accountancy o March 4 have opened a 60-day public comment period on proposed revisions to the Uniform Accountancy Act, aimed at expanding pathways to CPA licensure.