New CPA Law Affects Education and Experience Requirements for Future CPAs
Gov. Edward Rendell signed Senate Bill 838 into law on July 10, 2008, amending the Pennsylvania CPA Law. The hallmark of this legislation, now Act 73 of 2008, is increased CPA mobility to practice across state lines. To achieve this, the law brings Pennsylvania up to the national education standard of 150 credit hours and one year public accounting experience – in addition to the successful completion of the CPA Exam – before the granting of CPA license. The education and experience changes will go into effect Jan. 1, 2012.
Education Requirements
Effective Jan. 1, 2012, CPA candidates must have graduated with a bachelor’s or master’s degree and completed 150 semester hours, with at least 36 semester-credits in accounting subjects. These subjects include accounting and auditing, business law, finance, or tax subjects acceptable to the Pennsylvania State Board of Accountancy (SBOA). This can be accomplished through undergraduate, graduate, or a combination of both levels of study.
The 150-hour requirement will not apply to any individual who has successfully completed one or more parts of the CPA Exam prior to Jan. 1, 2012. Those who received their license prior to Jan. 1, 2012, having completed only 120 credit hours, will still be recognized as CPAs and will not need additional credit hours of education for certification.
Work Experience Requirements Effective
Effective Jan. 1, 2012, CPA candidates must complete one year (1,600 hours) of experience, including 400 hours of attest activity, to qualify for the CPA certificate.
Work experience must be:
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In public accounting, as an internal auditor if the internal audit function reports to an independent board or similar body, or an auditor with a unit of federal, state, or local government; and,
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Supervised by an individual who is currently licensed to practice public accounting as a CPA in Pennsylvania or another state.
All CPA candidates must complete their one year of work experience within five years (60 months) of the date of application.
Exam Eligibility
Before applying for the Uniform CPA Examination, candidates must have graduated with a bachelor’s or master’s degree from an accredited college or university approved by the SBOA, and completed 120 semester hours including at least 24 semester credit hours in accounting subjects. These subjects include accounting and auditing, business law, finance, or tax subjects sanctioned by the SBOA. Candidates, however, will be required to obtain 150 credit hours of education, including 36 semester credit hours in accounting subjects, prior to obtaining their license (see education requirements above).