CPA Exam Breaking News: CPA exam scores to be valid up to 30 months, awaiting individual board confirmation

The?National Association of State Boards of Accountancy?is allowing CPA candidates up to?two and a half years?after passing the first portion of the exam to finish the CPA exam without losing credit. However, individual state boards must still agree to the move.?

On Monday, the NASBA stated that it has amended the?Uniform Accountancy Act Model Rules?to accommodate the modification, which had been highly anticipated by exam applicants. The revisions were made in response to NASBA's experience during the pandemic when CPA candidates were given additional flexibility in taking the test, as well as shortages of young accountants throughout the profession.?

Since the computer-based CPA test was introduced by NASBA and the American Institute of CPAs in early 2004, applicants have had 18 months from the day they pass the first component of the exam to complete the other three sections without losing credit. This is known as the "conditioning" rule, which has been accepted by all 55 states and territories in the United States. However, following the interruptions caused by the COVID-19 pandemic, the reduction of candidates in the pipeline, and the increasing workload of companies in recent years, NASBA discovered a rising desire to offer candidates and businesses relief by extending the conditioning time. Therefore, NASBA adopted?30 months?for an amendment to UAA.?

The?UAA Model Rules have no immediate effect on state board rules. As the membership organisation of the?55 U.S. Boards of Accountancy, NASBA, through its?Uniform Accountancy Act Committee, provides the Model Rules as recommendations to boards for adoption, whereby uniform adoption is encouraged. As such, each individual board may consider the amendment to?Model Rule 5-7?and, if so choose, commence a process to change the rules at the state level. Current Exam candidates remain under existing rules until, if and when, the board to which they applied makes changes.?

To sum it up, NASBA has adopted 30 months as an extension to the Uniform Accountancy Act Model Rules. The individual boards of accountancy must still choose to adopt this. As long as and until the board they applied to makes modifications, the existing regulations apply to exam applicants.

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