The American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA) are two organizations that work toward improving the accounting profession. The AICPA establishes standards for the Uniform CPA Examination, while the NASBA is the governing body that administers the test. In April 2021, the two organizations announced the unveiling of a new curriculum to prepare accounting practitioners for the Uniform CPA examination.
At the two-day conference held in mid-June 2021, the two organizations presented the CPA Evolution Model Curriculum. This new curriculum was created as a result of a 2021 study the two organizations conducted jointly. The study found significant gaps in the topics covered in college classrooms compared with the topics covered on the CPA exam. More specifically, the study generated mixed results for college programs that incorporated new and emerging technologies within their curriculums.
The CPA Evolution Model Curriculum Task Force created the curriculum for this new model. This task force comprised more than 40 volunteers across industries, including faculty from small and large institutions, CPAs in public practice, and State Boards of Accountancy representatives.
After hearing from faculty who wanted a model that would prepare students for practicing in this field, the Task Force focused on creating a new curriculum that includes skills CPAs need to work in the profession. The curriculum also consists of a model of transitioning students into the Core + Disciplines CPA Exam structure, which is forecasted to launch in 2024.
The curriculum includes subject-matter content related to financial/managerial accounting, tax, and auditing. However, it will also include technology-related areas focused on data analytics, IT governance and controls, and digital acumen, among other areas.
The actual model is separated into two components. The first component directs instructors on teaching particular modules, topics, and learning objectives. This component covers core topics CPAs need and topics in three disciplines: Tax Planning and Compliance, Business Analysis and Reporting, and Information Systems and Control.
The second component of the model provides instructors with examples of course instruction. The model also provides suggestions for integrating this content within courses and suggestions for time estimates for each topic, and all of these suggestions were based on faculty feedback.
When making these adjustments, the model presumes that students will take pre-requisites such as principles of financial accounting and managerial accounting, economics, finance, and business law. The model also provides a little flexibility in that it does not stipulate whether these topics should be covered in undergraduate or graduate programs. Furthermore, the model leaves it up to each program to consider their circumstances, for example, the program’s strategic objectives and hiring needs of employers.
The CPA Evolution Model was presented to 2,000 accounting faculty, professors, and other stakeholders on June 15 and 16, 2021. The Task Force co-hosted the event with the American Accounting Association as a part of an overriding effort to assist secondary education educators with adapting course curriculum to new and emerging technologies. Moreover, this event is designed to promote better practices in education within this discipline.
Both organizations have established other resources for educators to help students prepare for working in accounting. The NASBA provides informational videos and webinars related to any updates to their statutes and regulations about the Evolution Model.
To help collegiate accounting programs, the AICPA has created the Academic Resource Hub found at https://thiswaytocpa.com/faculty/, which provides educators with case studies, readings, assignments, and webinars to prepare for the demands of the profession as it transitions under the CPA Evolution licensure model. Moreover, the AICPA’s Faculty Hour at https://thiswaytocpa.com/faculty/ contains topics related to integrating data analytics and other technology-related topics relevant to the CPA profession.
