Three Different Credit Extensions Happening Now!

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Author: Patricia Hartman, Director of Client Services
Posted: April 1, 2024

So, you’ve heard that some states are extending Exam credit and you want to know how it impacts you…

Here are a few things you need to know first. The Boards of Accountancy are the only entities with the authority to grant, extend or void examination credit. NASBA does not regulate boards. The regulations and rules vary across the 55 U.S. jurisdictions.

There are three separate items in place or in progress that candidates should be aware of:

1. The Credit Relief Initiative (CRI)

This was a recommendation from NASBA to the Boards of Accountancy. The recommendation was to extend credits set to expire during a specified time frame. Not all boards adopted this recommendation. If your board adopted this recommendation, you will be or have been notified of next steps. If your board did not adopt this recommendation, you cannot transfer to a jurisdiction that did as expired credit is non-transferrable.

2. The CPA Evolution Transition Period

This was a recommendation adopted by all Boards of Accountancy. Any candidate with valid, unexpired credit on January 1, 2024, would be granted an extension to June 30, 2025, to complete remaining sections of the Exam. If your credit was valid past that date, it would remain the same. All NASBA records have been updated to reflect the extensions.

3. Adoption of the Model UAA Rules

The model Uniform Accountancy Act rules were updated to change credit expiration rules. The change was to calculate credit to expire 30 months from the score release date. Some jurisdictions have already adopted this change and others are working on it. Many jurisdictions must go through a legislative rule-making process to make this change. Time frames for adopting the new rules depend on each jurisdiction’s process. As boards make these changes, they will update the information on their websites and notify NASBA so we can update systems and our website as well.

Hopefully, this clears some things up. If you still have questions about the impact any of these changes have on you, please email [email protected].Good luck on your CPA Exam journey!