The Ever Evolving CPA09/18/2019
Education, experience, and licensing for Certified Public Accountants (CPAs) is changing. The new future is emerging quickly, unfolding right now, even as you read this blog. The CPA Evolution, as this change is being called, has a working group formed in late 2018. That group is charged with developing future projections while maintaining security for today.
Factors Influencing this Time of Transition
Yes, technology is a big one! We see how IT is changing the face of commerce, education, healthcare, and social relationships. That includes positives and downsides. Regardless, the change wave is in motion and gaining momentum.
The role of the CPA is broadening as the need for more sophisticated technology functions are growing. That means being able to apply big data analytics and advanced auditing methods with professional and mandated requirements. Various associations and state groups are preparing and gathering materials to update current CPAs and those on the way to licensure.
Position Yourself for CPA Changes
As with other professions, technology integration occurs during one’s education and/or on the job. Upskilling is the word of the day in that regard. For those beginning or midway in their education, it is wise to stay abreast of expected educational changes such as:
- A balance in accounting and technical requirements;
- Advanced skills learning dealing with analysis and security measures; and
- System and organizational management and controls.
These anticipated advancements are something to investigate closely if you are contemplating an advanced degree or beginning certification steps.
Watch for CPA Exam Changes Too!
There is current agreement that testing will cover specialized knowledge while keeping the current testing core of accounting and technology. The special sections will be based on areas of interest and study. The bottom line is that CPA educational, exam and systems changes are underway. These will address the changing demands within the profession and from community and business stakeholders.
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