CPATrack News

New Regulations Affecting CPA Exam and Certification Requirements

June 5, 2017

Below are the highlights regarding the changes to the rules and regulations governing the accounting profession, approved by the Massachusetts Board of Public Accountancy last year, that took effect on Friday, May 19, 2017.

1. Community college credits earned at a regionally-accredited institution will be accepted to satisfy the 150 hour requirement.  Credits earned before the implementation date of May 19 will be accepted.

2. Students will be able to take the exam 90 days before their official graduation date. Candidates will ultimately need to provide an official transcript to prove that they have earned a bachelor's degree with a minimum of 120 credits and coverage in the required subjects.

3. A non-reporting license will no longer be issued. No waivers of experience will be offered to students currently enrolled in a graduate program.

4. ALL candidates for a CPA license will be required to have an equivalent of 1 year of public accounting experience. Three years of nonpublic accounting experience will be deemed equivalent to one year of public if the position is above entry level, under the supervision of the CPA, and the responsibilities are substantially equivalent to public accounting.

5. Candidates for a CPA license will no longer be required to have experience that includes a total of 1000 hours of attestation.

6. There will no longer be a time limit to reach the 150 hour requirement after passing the CPA Exam.

7. Anyone who tested in April – May 2017 who is at risk of losing conditional credit because of the delayed score release will automatically be given a 3 month extension (there is no need to make a special request).

The FAQs and information available on the websites of the Board of Public Accountancy and NASBA will be updated in the coming weeks.

 

Click to view the regulations as they were proposed and accepted.

Related Items:

Link icon http://www.mass.gov/ocabr/docs/dpl/boards/pa/proposed-cmr/252-cmr-002-redline.pdf

Return to List

members golfing

Whatever career path you want to take, or headline you want to make, a CPA certification can lead you anywhere!