University accounting courses not covering rising topics: AICPA/NASBA report

Higher education accounting training is lagging on rising topics, with considerably less than fifty percent of all collegiate systems masking increasing subject areas in facts and engineering, in accordance to a new report from the American Institute of CPAs and the Nationwide Association of Condition Boards of Accountancy.

The Accounting Plan Curriculum Gap Investigation Report uncovered that even though extra than 60 p.c of collegiate accounting applications cover subject areas such as information analytics and IT audit, a lot less than fifty percent are focusing on emerging spots these as cybersecurity, predictive analytics and Program and Firm Controls — subjects anticipated to seem on the 2024 CPA Exam, pending outcomes from the present-day Test Follow Examination.

The AICPA Governing Council and the NASBA Board of Administrators previously voted to advance the CPA Evolution model — which seems to require extra know-how expertise from CPAs to go the Uniform CPA Examination and qualify for state CPA licenses — last summer.

“The accounting career is turning out to be progressively reliant on the use of rising technologies, facts programs and information analytics,” claimed Sue Coffey, CEO of community accounting at the AICPA, in a statement. “Corporations are significantly trying to get technological know-how-similar services and tips and it’s vital for newly accredited CPAs to be adept in their expertise, usage and expertise. Accounting programs have a duty to guarantee their curricula and course offerings are setting college students up for achievement in the profession.”

Using responses from a lot more than 300 collegiate accounting packages, ranging in course sizing from one particular to in excess of 100 accounting undergrads, the Hole Analysis Report located that schools and universities have included modern tech and data abilities into their courses, but number of are featuring much more in-depth education and learning on every matter. For case in point, only 15 per cent of accounting packages with 50 or fewer accounting undergrad enrollments were being found to be incorporating electronic acumen into their curricula, with just more than 30 per cent instructing cybersecurity and predictive analytics topics.

“The gap assessment also has implications for condition boards of accountancy,” claimed Dan Dustin, vice president of condition board relations at NASBA, in a statement. “It’s an chance for boards to overview their latest training rules and update them to align with the upcoming of the CPA career and the styles of expertise and resources that new licensees will be working with as they start off their occupations. The genuinely terrific issue that I’m hearing is that the boards, state societies and the company neighborhood are working alongside one another to tackle these adjustments to the occupation,” he additional.

The AICPA and NASBA, with the guidance of the American Accounting Affiliation, will release a product curriculum in June to additional tutorial accounting college in making a curriculum reflective of the CPA Evolution product.

For the comprehensive report, head to CPA Evolution’s web site right here.