Diversity in the Profession, CPA Evolution & You

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Author: Dina Barabash, Content Development & Web Specialist
Posted: July 1, 2022

According to a recent article, diversity of graduates hired into accounting and finance functions of U.S. CPA firms is on the rise with an increase of almost five percentage points from 30.1 percent in 2018 to 34.8 percent in 2020. Though the COVID-19 pandemic attributed to the decrease in Exam candidates in 2020, between 2020-21, there was a six percent increase in new candidates.

One of the ways that the profession is focused on continuing this trend is through the CPA Evolution initiative in collaboration with NASBA and the AICPA. The CPA Evolution initiative is transforming the CPA licensure model to recognize the rapidly changing skills and competencies the accounting profession requires. The Curriculum is intended to provide an accounting student with the skills and competencies required of a newly licensed CPA to meet the needs of the marketplace and to protect the public interest. As such, it is focused on a college accounting curriculum that is relevant to preparing future CPAs. The Curriculum is comprised of two main components: Detailed content suggestions with modules, topics and learning objectives and examples of course structuring. This component covers the content necessary for all future CPAs (the Core), as well as the three separate Disciplines (Business Analysis and Reporting, Information Systems and Control, Tax Compliance and Planning), and examples of course structuring.

It is important that you learn about this initiative and the upcoming changes to the CPA Exam to fully understand how it might impact your journey to CPA licensure. If you pass and retain credit for all four CPA Exam sections by December 31, 2023, the changes to the CPA Exam will NOT impact your journey. If you will still be working your way through the CPA Exam in January 2024 and beyond, then the information about the CPA Evolution-aligned CPA Exam (the 2024 CPA Exam) and transition policy are most important to understand.

The role of today’s CPA has evolved, and newly licensed CPAs are taking on increased responsibilities that were traditionally assigned to more experienced staff. Becoming a CPA means you’ll need greater skill sets and competencies, and a greater knowledge of emerging technologies. And due to the increase in the profession’s diversity, there has never been a better time to become a CPA and experience the opportunities the profession has to offer you.