The 150-hour rule debate rages on, hope you’re not sick of talking about it.
INSIDE Public Accounting has shared key takeaways from a recent survey of 1,060 members of the New Jersey Society of CPAs (NJCPA) that aimed to get members’ view on the 150-hour rule. Those takeaways are:
- More than 40% of those surveyed said that new hires working in accounting-related roles who had not completed 150 credit hours “rarely” or “never” pursue CPA certification.
- No skills difference was detected between those with 120 hours and those with 150, according to 62% of respondents.
- An overwhelming majority, nearly 80%, believe it would be beneficial to the profession to provide alternative pathways to certification so 150 credit hours is not the only option.
You can view the full podcast here:
Anyone interested in adding their voice to this important debate is invited to submit a letter to the editor.
What would be beneficial to the profession is raising salaries. By lowering the bar, it will give firms an easy excuse to keep wages stagnant. Do I think someone needs 30 extra hours to be a competent cpa? No. But I see this as a sly way to increase the workforce without increasing pay.
Bingo. That’s the primary reason this is being pushed for.