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(UPDATE) McGladrey Ditching Partial CPA Requirement for Promotion to Senior Associate

Posted on by Caleb Newquist

Similar to the Purple Rose of Chicago, our tipster informs us that Mickey G's needs seniors/supervisors badly: 

CPA policy
In 2010 a change was made to the CPA policy requiring the completion of two parts of the CPA exam before an associate could be promoted to senior associate. Going forward, we have decided to eliminate this requirement, and associates may be promoted to senior associate regardless of the number of parts passed. We will still encourage our partners and career advisers to coach and support employee effort to pass these parts of the exam long before their third or fourth busy season. The CPA bonus will remain in place to help incent people to pass these exams early in their careers. 
The operative words here being "long before." It's probably for the best anyway. Requiring professionals to simply pass two sections seems like a pretty flimsy policy. Discuss as you see fit. 
 
UPDATE: Through a McGladrey spokesperson, we learned that the change was "made considering feedback from employees and lines of business." Additionally, McGladrey's supervisor position is "a unique approach that we offer to reward and incentivize employees on the path to manager," and "[emphasizing] passing all four parts at this milestone rather than at senior is part of this incentive."     

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The great thing about accounting is that unlike law, you don’t have to go to a top school to have a successful career. While it helps to be in front of Big 4 recruiters at the major accounting schools if that’s the route you want to take, here’s a little proof that you can easily get through the CPA exam even if your educational background is comprised solely of community college. At least in Texas.

The Texas State Board of Accountancy recently released its list of top CPA exam pass rates among Texas colleges and universities and it turns out a community college is among the University of Texas and Texas A&M.

The University of Texas at Austin had a 75 percent pass rate (it is unclear if that is a first-time pass rate or what) while the Austin Community College came in 10th with 53 percent. Other schools on the list were Texas A&M, Baylor University and Texas Tech.

ACC was the only community college to make the list. Their CPA program currently has about 400 students.

ACC Dean of Business Studies David Quinn told KUT News that ACC has made the list every year except one since the school became accredited in 2002.

“I’m very proud of our faculty and our students in our professional accounting program,” he said. “They’ve proven time and time again that they can do as good of a job as the best universities in the State of Texas.”

If you’re interested, you can dig through the results from the TX Board here.