Baer Bill Would Make New Jersey More Competitive

CPA Test Takers Would Not Have to Wait so Long to Take the Exam

TRENTON – Legislation sponsored by Senator Byron M. Baer, which would make New Jersey a more competitive market with neighboring states for accountants by allowing students to take the Certified Public Accountant (CPA) exam earlier, was approved by the Senate Commerce Committee today.

“Accountants are beginning to shatter the stereotype that they are only back room numbers crunchers as they begin to shift roles and become more like boardroom strategists,” said Senator Baer, D-Bergen. “More often these days, It is the CPAs who are asked to determine how today’s trend will shape tomorrow’s financial future. An accountant with the proper certification is considered a key asset in any business.”

The Bill, S-2408, would amend the licencing statute for CPAs by reducing the required credits that a person must complete before taking the exam from 150 semester hours to 120 hours.

According to Senator Baer, “Both New York and Pennsylvania only require the completion of 120 hours in order to take the CPA exam, and I believe that New Jersey is losing potential accountants to our neighboring states.”

“The legislation would provide students with greater flexibility in pursuing a career in accounting,” said Senator Baer. “The bill could also help ease financial burdens that students can face while in college. Those with 120 hours of credit and who have successfully completed the exam often receive financial assistance to finish the remaining schooling from employers.”

Senator Baer also noted that in order to receive a CPA license a person must still complete 150 hours of qualified higher education.

The bill now heads to the full Senate for consideration.