Hello everyone!!! In this blog, I want to discuss the most significant change to NY states CPA requirements, but before I do, I want to take a detour and discuss the AUD exam I took this week.
I just took my AUD exam and feel like a huge weight has been lifted off of my shoulders. Of course I
had the last minute freak out session, you know where I doubt my intelligence or my capability to answer a single question right. Roger and team encouraged me thru the final
hours to get the positive attitude back. And now, the exam is behind me. If I pass, then I only have BEC and REG left!!! What a great way to end 2012.
One really cool thing about the AUD section was that we were just going thru an audit with KPMG last week. I asked tons of questions of the auditors, including what they were
defining materiality as…of course, they never told me. And they did not appreciate the joke about why the auditors crossed the road. Nope, not at all. I did learn enough about auditing to have a disagreement with the auditors. I guess they will DISAPPROVE and have a discussion with those charged with governance.
In my first blog, I noted that NY state changed some of their requirements in July 2011 that effectively made it possible for me to obtain my CPA license. So in this blog, I wanted to point out the most significant change – the experience requirement. The experience requirement now requires the candidate to have a minimum of one year of professional accounting experience including general accounting, attest functions, compilations, advisory functions, tax or consulting services.
This new requirement that generalizes the experience of the accountant was groundbreaking for me. Prior to July 2011, NY state required 8 months of auditing experience, and twice that if you were a government auditor. After I graduated college, I had a choice – take a job with one of the big 4 I was interviewing with or take
a job with the federal government. I knew that taking a job with the government would cause me to forfeit my eligibility for the CPA license, but I thought it would be rather fun to try something different.
I have thoroughly enjoyed my career so far with the government, and I’m extremely grateful that the
requirements have been loosened so that I can now obtain the CPA license. Once I found out about the change, I began my search for the perfect review course (we know what I picked) and the rest is history. Now I’m two exams away from obtaining my license. Till next week…
Philip is a resident of the great state of New York, but has inspired and motivated fellow Roger students through online forums and social media platforms across the globe. Philip has already passed FAR, and is currently preparing to tackle AUD in November.