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CRANSTON, R.I. — The Department of Business Regulation announces the creation of a new pathway for individuals seeking to become Certified Public Accountants (CPAs) in Rhode Island, a move aimed at addressing the shortage of accounting professionals in the state and across the country.
Previously, a person had to complete a graduate degree or post-baccalaureate degree AND have one year’s experience; OR complete a bachelor’s degree plus 30 additional college credits in an accounting major or concentration AND have one year’s experience.
Last month, The RI Public Accountancy Act was amended when Governor McKee signed a bill into law allowing for a third pathway to licensure that does not require post-graduate education. It allows a person to have a bachelor’s degree with an accounting concentration or its equivalent AND two years’ experience.
Each pathway requires passing all parts of the Uniform CPA Examination and scoring at least 90 on the AICPA Comprehensive Ethics Course.
"By creating this new pathway to CPA licensure, we are helping to strengthen our workforce, support businesses that rely on these professionals, and ensure that talented people have more opportunities to build strong careers here in Rhode Island," said Governor McKee.
"This new law modernizes Rhode Island’s approach to CPA licensure by reflecting the challenging realities of today’s workforce while preserving the education, experience, and ethical standards that are fundamental to the profession," said Elizabeth Kelleher Dwyer, Director of the Department of Business Regulation. "Our thanks to the General Assembly for passing this legislation and to Governor McKee for signing it into law."
"After years of discussion at state, regional and national levels, the RI Board of Accountancy is excited to see this additional pathway to RI CPA licensing enacted into law. This is a huge boost for the profession, and it recognizes the value of training and experience in this dynamic industry," said Claire M. Iacobucci, CPA, CGMA, Acting Chair of the RI Board of Accountancy.
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