One million sections of the computerized Uniform CPA Examination have now been administered, according to the organizations in charge of the exam.
The American Institute of CPAs, the National Association of State Boards of Accountancy and Prometric jointly announced the milestone Wednesday. The significance of the one millionth exam section transcends the milestone itself, said AICPA president and CEO Barry Melancon in a statement. More people are sitting for the CPA Exam because the CPA profession has enjoyed unprecedented growth as an attractive career choice. Our research shows that colleges and universities are awarding more bachelors and masters degrees in accounting than at any other time in history.
Successful completion of the exam is required for licensure in all jurisdictions. The AICPA, NASBA and Prometric introduced the computerized CPA Exam in April 2004. Candidates may sit for the exam in hundreds of Prometric test centers in the 50 states; Washington, D.C.; Puerto Rico; the U.S. Virgin Islands; and the NASBA test center on Guam. Individuals have 18 months to achieve successful completion of the exam, which consists of four parts: auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation.
The test has not been without controversy, however. Complaints have arisen over a fingerprinting requirement, and the security of the fingerprinting database, which is stored by ChoicePoint, a company that has experienced data breaches in the past.
Prior to the computer-based format, the exam was all done with paper and pencil. It used to be administered just twice a year, in May and November, in large auditoriums. Candidates had to complete all four parts in two days.
The successful completion of the CPA Exam affirms educational achievement and points one to a career of service to the public and a rewarding life-long experience, said NASBA president and CEO David Costello.
