Is it too hard to become a Chartered Accountant? Practitioners speak out

The CPA is the gold standard, and it should be hard to obtain. The public relies on us to ensure financial statements are complete and accurate. On other issues that involve forensic accounting and other consulting services, people look at the CPA differently than the other credentials, some of which are not worth the paper they are printed on. … In no way should we be making it easier. That mentality has led to kids getting trophies for sixth place.

— Jonathan T. Marks, CPA, CFF, CITP, CGMA, CFE

I do not think making it easier to become a CPA is an answer. Where does it leave us if we “dummy down” the profession? Sorry, but I took the CPA exam back in the day when you took all four parts at the same time without a calculator. I took a Saturday review course while finishing my senior year. I studied for months and passed all four parts the first time. It was not easy but we did it! And I also took extra accounting courses in order to have the knowledge to pass. This was before the 150-hour rule, but I knew I needed those courses that were not required to graduate but were needed to pass the exam. Making it easier helps no one — not the students and not our clients.

I hope the profession does not go down this path. How sad if it does for all of us.

— Eileen L. Schneider, CPA

It should always be hard to be a CPA. Otherwise it does not mean anything if you achieve it, if it is too watered down.

The profession should encourage more women and minorities to become CPAs. There should be more outreach.

— Philip Russell, CPA

The title of CPA is well earned. Unlike lawyers, there actually is an apprenticeship work requirement to get a license. Plumbers, electricians, etc., all have apprenticeships and tests. Consequently, there is a glut of lawyers in this country and their ranks include many who cannot find a job in their profession because there are simply too many of them.

Dumbing down the requirements is silly. There are shortages of skilled tradespeople. Do you see them dumbing down the requirements? Of course not. They are out there actively recruiting.

— Douglas Harris, CPA, MST

 

My feeling is that I spent so much time and money to get my CPA license that I feel it is unfair to give the young and new students an easy ride that I wasn’t entitled to. Also, if the goal of the exam difficulty and additional schooling is to keep the profession at a high level, then I feel we should keep it that way. It wasn’t easy for me but I did it (and did it with three young kids at home and a full-time job). I hope people wouldn’t give up that easy and would push through it for the benefits that the license brings.

— Jonathan Weisz, CPA

 

The education issue

How much more knowledge are students getting with 30 more hours of education? Would we be better served by decreasing the education and increasing work time requirements?

I think if you surveyed practitioners, they would rather hire someone with a BS in accounting and an additional year of work experience instead of an additional year of education. The profession is changing, what we as accountants do is changing, and the requirements should change too.

— Mary J. Miller, CPA

 

I was able to complete my accounting degree while working full-time and raising three children in about five years. I won’t tell you how many times I sat for the CPA exam — suffice it to say that without perseverance I would never have passed. I can honestly tell you that if I was required to do another year of college I don’t think I could have. The cost alone would have prohibited it. I paid off my student loans over the next 10 years, just in time for my firstborn to go to college. Not requiring those additional credits made it possible for me to become a CPA, but not easier.

— Doris Emond, CPA

As a profession, we need to drop the 150-hour requirement as a starting point. It is discouraging too many from even considering the profession.

We need to look at our pay structure and work-hour requirements. Salaries need to increase, work hours need to be adjusted.

Amazingly, in my opinion, the one item that everyone says needs to change, the exam, is fine as is. When the other items change, the exam, a one-time challenge, will not seem like the obstacle.

— Timothy S. Hefty, CPA, CFE, CFF, DABFA

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