2008 session update
A new change in CPA exam requirements
will allow students in their final semester of college to
apply and
sit for the CPA exam. As soon as the final rules are adopted by the
Board of Accountancy, students will be able to apply to take
the exam within 180 days of their anticipated completion of the
education requirements. They can then sit for all or part of the
exam within 90 days of the anticipated graduation date.
Students choosing to take advantage of this option are still
required to submit proof of meeting the educational requirements and
will need to meet those requirements before any test scores will be
recognized and accepted.
Previously a student needed to complete and have proof of their
hours of mandatory education prior to sitting for the CPA exam.
Obtaining a transcript and completing the application process can
take six to eight weeks. Therefore, recent graduates often had to
wait until fall to take the CPA exam.
Allowing students to apply and sit for the exam while still in
school gives them the chance to focus on the exam before
beginning careers in the profession.
Why should you care?
Allowing students to apply and sit for the exam while still in
college will:
Attract more students to the CPA profession. Fewer
students were sitting for the CPA exam since the computerized
format was introduced. The new legislation will allow students
to prepare for and take the exam prior to starting
careers in the profession.
Allow students to focus on the exam. As new employees,
studying is additional work outside the office. For students and
recent graduates, studying is still a part of their routines.
Also, under the changes, recent graduates can spend the summer
studying for and passing the exam.
Produce a more prepared and less distracted staff. New
employees will not have to spend work hours studying for the
exam.
MNCPA position
The MNCPA supports allowing students in their final semester of
college to
start the application process or
sit for the CPA exam. This change helps create a more
ample and prepared workforce. It also influences accounting
students to choose the CPA designation over others.
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