Key Takeaways

  • New York Governor Kathy Hochul signed state legislation (A7613B) on Friday, establishing an alternative path to CPA licensure that does not require 150 college credits, typically equivalent to five years of higher education.
  • The law creates new rules allowing CPA candidates to obtain licensure after completing 120 college credits, typically equivalent to a bachelor's degree, accumulating two years of professional experience, and passing the CPA exam.
  • "The Governor has officially signed the 120-credit CPA pathway bill, providing future CPAs with an additional route into the profession," Calvin Harris, CEO of the New York State Society of CPAs, wrote in a LinkedIn post on Friday. "This new pathway will take effect in one year—representing one of the most significant pipeline reforms in a generation."

Dive Insight

With the law now in effect in New York State, at least 24 states have this year modified their accounting licensure laws, or their boards have revised rules, to offer alternative licensure paths requiring only a bachelor's degree. The 150-credit requirement was previously viewed by critics as a costly barrier preventing some students from entering the profession.

New York joins a broader industry push to reform the CPA licensure process, aiming to attract a new generation of CPA candidates and address the accounting talent shortage.

Experts have been closely monitoring developments in New York and New Jersey, noting that if both states pass relevant laws by year-end, half of the nation will have implemented revised CPA rules.

For ongoing tracking of CPA licensure changes, see CFO Dive'stopic tracker page。