In a recent episode of the podcast, we delved into the proposed modifications to the Uniform Accountancy Act by NASBA and the AICPA. One aspect that really concerns me is the continued requirement for an accounting concentration or equivalent for all three proposed pathways.
I believe this is holding our profession back. There are countless ways to learn everything you need to know without attending an overpriced, traditional college or university. By locking in the monopoly that colleges and universities have over accounting education, we're severely limiting our pipeline of new talent.
This rigid requirement makes it extremely difficult for career changers to enter accounting. They have to go back to school and effectively earn an accounting major to become CPAs—even if they've already learned the material on the job.
If we truly want a competency-based pathway, we should allow anyone with a bachelor's degree to take the CPA exam. If they can learn the material—whether through work experience, continuing education, or even just reading textbooks—and pass the exam, that should be enough. After all, the exam is challenging and comprehensive.
I can speak from personal experience. I chose a music degree, and when I switched to accounting, it doubled my income. There are many smart individuals out there who didn't pick the "right" major but would excel in a stable accounting career.
As my co-host David pointed out, we're facing a talent crisis that won't be solved by half measures. We need to streamline the pathway to becoming a CPA if we want to attract more people to the profession.
Moreover, loosening these requirements could improve accounting education. Right now, professors have little incentive to innovate because the curriculum is so rigid. If we introduced competition from adjacent majors—like statistics or science—we would stimulate innovation and modernization in accounting education.
Let's stop locking everything down with inflexible rules. The profession needs flexibility to adapt and grow. It's time to open the CPA pathway to a broader range of candidates and embrace the changes necessary to address our talent shortage.
