Effective November 2, Indiana CPA exam candidates need just 120 education units to sit for the exam making Indiana one of 47 jurisdictions that allows prospective CPAs to sit before meeting the 150 unit requirement for licensure (150 are still required for the big three letters after your name). At its July 29 meeting, the Indiana Board of Accountancy held a public hearing for the 120-to-sit and CPA Exam changes rule. The Indiana Board of Accountancy unanimously approved the rule.
Much research has been done on the 150-hour rule since it became the norm for CPA exam jurisdictions and the consensus is that it’s bullshit. One recent study found that reducing the education requirement from 150 hours to 120 hours is associated with a roughly 25 percent increase in the number of first-time candidates attempting the exam. Numerous papers outline how the 150-hour rule does not lead to better CPAs and in a time when CPAs are in short supply, the last thing we need are extra hurdles to licensure. Will making it easier to sit buff those low exam numbers up? Time will tell.
Is there anyone out there who adamantly supports 150 hours? Give us a holler and CMV.