BOSTON — The Massachusetts Senate recently approved a new bill which would help the certified public accountant workforce grow and meet consumer demand, all while maintaining its longtime professional standards.
According to the Senate, Bill S.2946 would update the standards for certification as a certified public accountant to feature a balanced mix of on-the-job work experience and a college degree.
The lead sponsor of the bill was Westford’s state senator John Cronin, who said the bill would remove outdated and costly requirements that CPAs currently need to complete — which include even more college course credits than a standard degree requires.
“CPAs play an invaluable role in ensuring that Massachusetts remains a leader in industries across the country,” Cronin said. “This legislation removes financial barriers to pursuing a career as a CPA , while maintaining the same rigorous academic and professional standards that have guided the profession for decades. I’m proud to see this initiative advance in the senate and look forward to continuing to deliver sound policy to broaden career pathways for residents and increase our state’s competitiveness.”
During a public testimony to the Senate, advocates for the bill said the number of CPAs in Massachusetts is shrinking. They added that the bill will respond to the growing need for CPAs in the state by allowing those licensed in other states to practice in Massachusetts, provided they meet local standards and pass the uniform CPA examination.
The Senate Committee on Ways and Means advanced the bill to the full Senate with a unanimous 16-0 vote on Feb. 5. Then on Feb. 12, the Senate passed the bill with a unanimous 37-0 vote, meaning it is now up to the House of Representatives for further review.
