The Indiana CPA Society supports the rule change for prospective CPAs | Rare Techy


Effective November 2, Indiana Governor Eric Holcomb signed into law an official rule change that directly affects Indiana’s CPA pipeline and accounting shortage.

According to the 2021 AICPA Trends Report, the main factors contributing to the current talent shortage are: declining college enrollments, rising tuition costs and student loan debt, logistical barriers to studying for the CPA exam, and limited time to sit for the CPA exam. Timeframes – Timeframes are further constrained by capacity constraints during the COVID-19 shutdown.

“The cost and time spent on higher education is getting more attention,” said INCPAS President and CEO Courtney Kincaid, CAE. “As employers adapt to employee needs and career preferences, the CPA profession should provide students with exam flexibility that works with their academic, work and personal lives.”

This law change will reduce or remove barriers for accounting students who want to pursue a CPA license and career in Indiana:

  • Indiana moves into a group of 47 jurisdictions that allow 120-credit hours to take the exam, while requiring 150-credit hours for licensure
  • Removes CPA exam section names and windows and allows continuous testing and retaking of failed section(s)
  • Launching in 2024, the new CPA Evolution Model incorporates changes to the CPA exam to align with the curriculum, which includes core competencies along with future focus topics.

“Most states have already adopted this rule, so it eliminates a competitive challenge,” said INCPAS Government Relations Advisory Council member Tom Bayer, CPA, CExP. “Now more Indiana students can come out of college with partial or full completion of the CPA exam, which will be a win for our profession statewide.”

Students who complete at least one portion of the CPA exam, either before they graduate, during school, or on their job start date, are more likely to complete the exam cycle and become CPA licensees in Indiana.

“Taking test sections after intensively studying the material during college coursework can be a great help to students,” says Diane L. Sterk, CPA, Mac, INCPAS Board Chair and Senior Lecturer at the Kelly School of Business, Indianapolis. “Also, it will be easier to make studying for the test a part of their schedule before they start working full-time.”

Proposed by the INCPAS Advocacy Team and The Corydon Group, the bill HB1373 was authored by Rep. Heath Vannatter (R-Kokomo), Sen. Sponsored by Andy Say (R-Huntington) and signed into law by Governor Holcomb as HEA1373 in April 2021. .

INCPAS has worked with the Indiana Register, the Indiana Board of Accountancy, the Indiana Professional Licensing Agency (IPLA), the AICPA, and the National Association of State Boards of Accountancy (NASBA) to reflect this rule change across agencies. CPA candidates and students intending to take the CPA exam can now submit their Notice of Admission to NASBA’s site once they have reached 120-credit hours.Note: NASBA may take longer to update this page to reflect this change.


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