Latest Trends in Accountant Certification

The landscape for accountants is changing, both in the United States and South Africa, as the industry seeks to welcome more professionals into the field. These changes aim to make the journey to becoming a certified accountant more accessible, while still keeping the high standards the profession is known for.

In Minnesota, USA, there's a notable shift with a proposed bill, Senate File 1660, which aims to simplify the process for becoming a Certified Public Accountant (CPA). Currently, aspiring CPAs need to complete 150 credit hours of education. The new proposal introduces more ways to meet licensure requirements. One option allows for a bachelor’s degree with 120 credits plus two years of work experience. Another combines 120 credits of education with one year of work experience and 120 Continuing Professional Education (CPE) credits. This initiative, led by the Minnesota Society of CPAs, not only addresses the shortage of CPAs but also aims to make the profession more accessible to a diverse group of candidates.

Meanwhile, in South Africa, becoming an accountant for example, a Business Accountant in Practice (BAP SA) follows a strict path that includes a:

• Bachelor of Commerce in Accounting, 360 credits

• Gaining 4 years full time practical experience

• Completing 2 assessments, one in ethics and one in practice management.

This demonstrates South Africa’s commitment to high standards in accounting. While South Africa's route to certification remains unchanged, it reflects an ongoing commitment to quality in the profession.

The changes proposed in the US to update CPA requirements are aimed at offering different pathways to certification to bring more people into the profession, particularly those from underrepresented groups. At the same time, South Africa's rigorous approach to certification maintains its reputation for excellence. Both approaches highlight efforts to ensure the accounting profession remains robust, diverse, and well-equipped to handle the challenges of the modern business world.