Should a Master's Degree Be Required for CPA Licensure?

An Analysis of the Ramifications

Nicholas J. Mastracchio, PhD, CPA, and Heather M. Lively, MAcc, CPA, and Elizabeth T. Carlson, MAcc, CPA

In 2003, the idea of requiring a graduate-level degree for licensure of a CPA candidate was discussed at a National Association of State Boards of Accountancy (NASBA) education committee meeting. One committee member pointed out that requiring a master's degree would represent a serious additional burden, because students typically graduated with a bachelor's degree with significantly more than 120 hours, meaning they would need less than one additional semester to meet the 150-hour requirement that allowed them to sit for the CPA exam. The committee chose not to pursue a requirement for a graduate degree at that time.