New Jersey State Board of Accountancy

At the New Jersey State Board of Accountancy meeting, the Exam Committee said it will meet to discuss putting together the complete list of steps a CPA candidate needs to fulfill to become licensed in the state. It will list which organization or agency they need to go to for assistance and what is the timing involved. Both CPA pathways will be discussed.     

In response to the recent proposal for an alternative pathway to the standard 150-hour requirement for CPA licensure by the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA), the New Jersey State Board of Accountancy voted unanimously for the candidate to have the following:

      * Bachelor’s degree (which is usually 120 credits) – with 24 credits required in accounting and business

      * Two years of general experience (not competency-based)

The Board voted to ask the Division of Consumer Affairs and the Office of the Attorney General to find a sponsor to introduce legislation that would implement their positions. That process will take a few months. First, the Division has to review the Board’s request. If they agree, they would draft a recommendation to the Attorney General’s office, which would then review it from a policy and legal perspective. If they agree, the Attorney General would seek a sponsor to introduce a bill.

Applications are open until Nov. 25 to sit for the Registered Municipal Accountant (RMA) Exam on Dec. 6. Applications may be found on the Board’s website at www.njconsumeraffairs.gov/acc under the Applications and Forms tab. Completed applications should be emailed to accountancy@dca.njoag.gov. Study materials, including the past exam, may be found under the Study Materials tab. Questions can be sent to accountancy@dca.njoag.gov.