As a recognition of the need to boost access to accounting, the New Jersey Society of Certified Public Accountants (NJCPA) has proposed an added pathway to CPA licensure in the state.

In a release, the Society said it "is calling to modify New Jersey’s Accountancy Act to enable CPA candidates to qualify for licensure by earning a bachelor’s degree, completing two years of experience and passing the CPA Exam." The New Jersey State Board of Accountancy (NJBOA) supports the added licensure pathway.

The bill, A5598, which is sponsored by Assemblyman Sterley S. Stanley (D-East Brunswick), passed the Assembly Regulated Professions Committee on May 15.

Under the current law, licensure candidates must earn at least 150 credits—comprising a bachelor’s degree plus 30 extra credits or a master’s degree—gain one year of work experience in accounting and pass the CPA Exam. Although this option will remain available, the proposed new qualifications would provide an additional pathway.

The bill also provides for individual practice privileges for out-of-state licensed CPAs who have a bachelor’s or higher degree, have passed the CPA exam and have at least a year of experience.

A recent NJCPA survey showed that 66 percent of the 187 businesses that participated said they were having a hard time finding accounting recruits in the last year. Of those companies, 47 percent stated that this was a moderate or high risk to their operations.  

“The introduction of an additional path to CPA licensure will allow for greater flexibility in the licensure process without compromising the rigorous educational and experiential requirements that ensure CPAs remain trusted advisors,” NJCPA CEO and Executive Director Aiysha (AJ) Johnson noted. “Keeping the profession open and accessible to promising young professionals is crucial, not only to the accounting field itself but to the communities CPAs serve.”