Mark Cowan, distinguished professor of accountancy, Troy Hyatt, associate professor of accountancy, and Josh Filzen, professor of accountancy, had their paper titled “Graduate Accounting Education After CPA Licensure Reform” accepted for publication in Tax Notes Federal, according to an announcement on Apr. 7.
The topic is significant as the accounting profession faces a pipeline problem with fewer individuals entering the field. The professors’ research addresses ongoing debates about how best to reform the requirements for becoming a Certified Public Accountant (CPA).
Their work details efforts to address this issue by focusing on changes to the longstanding 150-hour education requirement for CPA eligibility. The authors note that many states now support substituting two years of professional experience for some or all of the extra academic credits traditionally required. However, they point out that critics argue such reforms may be shortsighted and warn that lowering educational standards could fail to address deeper challenges facing the profession.
Cowan, Hyatt and Filzen’s paper also cites several factors contributing to the shortage in new accountants. These include demographic trends affecting workforce entry rates, starting salaries in accounting compared to other fields, stereotypes about accountants’ roles and lifestyles, perceptions regarding difficulty and work-life balance within the profession, as well as concerns over taking the rigorous CPA exam.
The trio’s research explores potential alternatives to current rules governing CPA licensure and suggests that more comprehensive solutions may be needed for long-term improvement within graduate accounting education.
