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Committee advances bill to ease CPA education requirement, add experience year
Summary
The committee released Assembly Bill 5598 as amended, which would lower the 150‑credit requirement for CPA licensure to a bachelor’s degree and require two years’ supervised experience; supporters said the change is aimed at addressing a multi‑year shortage of certified public accountants.
Assembly members advanced Assembly Bill 5598 as amended, a measure that would change education and experience requirements for certified public accountants in New Jersey. The bill would allow candidates with a bachelor’s degree to sit for the CPA exam and require two years of supervised experience instead of the current one‑year-plus‑30‑credits model.
Jeff Kazerman, government relations vice president of the New Jersey Society of CPAs, told the committee the change would be the most significant licensing update in nearly three decades and said New Jersey faces a “severe shortage of CPAs,” noting membership declines and drops in accounting graduates. “All we wanna do is change that so that you do not need a hundred‑50 hours, you just need your bachelor’s degree, pass the exam, and … have 2 years of experience instead of 1,” Kazerman said.
Supporters including the New Jersey Business & Industry Association and the New Jersey Chamber of Commerce filed in favor and declined to testify, arguing the bill would help build a pipeline for new accountants. During Q&A, members asked about the character of required work experience; Kazerman said experience must be supervised by a licensed CPA even if it is not auditing‑specific.
A motion to amend and release the bill was called and the committee announced the bill "as amended is released," sending it on for further consideration. The sponsor or floor managers will carry the amended text to the next stage.
