A bill intended to increase access to the accounting profession by offering an additional option for CPA licensure in New Jersey went into effect on Feb. 11. The New Jersey Society of Certified Public Accountants (NJCPA) worked with primary bill sponsors Assemblyman Sterley S. Stanley (D-18) and Senator Anthony Bucco (R-25) on A5598/S4493, which was signed by former Governor Murphy on Jan. 12.
The bill makes it possible for those considering CPA licensure to qualify by earning a bachelor’s degree, completing two years of work experience and passing the CPA Exam. Previously, candidates had only one option, which included earning at least 150 credits (typically 30 credits more than a bachelor’s degree or equivalent to a master’s degree), having one year of work experience in accounting and passing the CPA Exam.
“Creating an additional option for licensure enables more candidates to become CPAs and helps advance the accounting profession,” said Aiysha (AJ) Johnson, MA, IOM, CEO and executive director at the NJCPA. “We are truly thankful for the collective support for this legislation from our members, the business community, state legislators and other organizations that endorsed the bill.”
New Jersey joins 24 states that have made similar changes to offer additional pathways to licensure, and others that are in the process of updating their criteria.
The following resources provide additional information about the pathways to obtain CPA licensure in New Jersey:
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