The compression of the CPA pipeline is an issue of state and national concern. SCACPA and societies in other jurisdictions and national organizations are continuously exploring avenues to relieve the compression and enhance the profession’s attractiveness to would-be CPA candidates and students.
To secure tomorrow, we must plan today. Futureproofing our profession means ensuring we remain relevant in an ever-shifting financial landscape. Further, in a world where change is the only constant, flexibility isn’t just an advantage; it’s a necessity.
So, how do we ensure a steadfast future and continued relevance for the CPA profession? Threats we must consider include opportunity and tuition costs, starting salaries, branding and reputation, population decline, and more.
Dynamic adaptation is key to ensuring the profession’s sustainability and growth. CPAs are guardians of the public interest, entrusted to uphold integrity and trust. So, we as a profession must tackle these challenges head-on.
In South Carolina, the revisions to Title 40 Chapter 2 (the law that regulates the accounting profession in South Carolina) enacted in 2022 removed several barriers to licensure. SCACPA also continues to foster relationships with colleges, universities, and firms to encourage and support students and CPA candidates along the licensure path. These support mechanisms include networking opportunities, scholarships, student debt relief, and CPA Exam Bonuses. SCACPA’s advocacy and growth efforts sow the seeds for future success. Many thanks to our volunteers and elected officials who understand the importance of the profession’s relevance and growth.
Though the CPA license is a state-based licensure, many CPAs enjoy the privilege of cross-jurisdictional practice. In other words, CPAs can serve clients in other states without having to apply for multiple licenses. This works because of the concepts outlined below.
- Reciprocity: Once licensed, if a CPA decides to move their principal place of business to another jurisdiction, the concept of Reciprocity comes into play. This allows a CPA to transfer their license to their new “home” jurisdiction, ensuring that they can continue practicing without requalifying.
- Mobility: CPAs often find the need to work across different jurisdictions. This is addressed through Mobility. This means they can seamlessly operate across borders without notifying each jurisdiction or incurring additional fees, while still being held accountable for their professional conduct. Mobility laws dictate how CPAs from other jurisdictions can practice within the local jurisdiction and operate under the purview of the local Board.
- Substantial Equivalency: Substantial Equivalency means that one jurisdiction’s board believes that another jurisdiction’s rules and requirements for Education, Examination, and Experience are at least as stringent as theirs. Specifically, they should be equivalent to or surpass a bachelor’s degree in accounting with 150 semester hours, one year of relevant experience, and a passing score on the Uniform CPA Examination. There is not a one-size-fits-all definition of Substantial Equivalency, which means while one jurisdiction might recognize a CPA’s qualifications as substantially equivalent, another may not.
CPA Pipeline Programs
SCACPA proudly presents our Student Membership Program, designed to connect experienced CPAs like you with aspiring accounting leaders. By sponsoring a student membership for just $50, you have the chance to guide and inspire the bright minds entering our field.
Why Sponsor a Student Membership?
- Invest in the Future: Your sponsorship is more than a financial contribution; it’s an investment in the future of the CPA profession. Supporting students today ensures a robust and talented pool of professionals tomorrow.
- One-on-One Connection: SCACPA will personally connect you with a student, providing you with a unique opportunity to establish a one-on-one relationship. Share your insights, offer guidance, and become a crucial part of their professional journey.
- Showcase the Value: As a sponsor, you’ll have the chance to showcase the true value of a CPA career. Your firsthand experience can shape their perceptions, helping them navigate the challenges and opportunities that lie ahead.
At SCACPA, we are committed to fostering the growth and success of the CPA profession by supporting and nurturing the talents of the next generation. We are excited to announce our impactful scholarship program designed to bring talented candidates into the world of accounting.
- Supporting South Carolina Students: Our program is dedicated to students attending colleges or universities in South Carolina. By investing in local talent, we contribute to the development of a strong and thriving accounting community.
- Diverse Range of Awards: SCACPA awards dozens of scholarships annually, with amounts ranging from $500 to $2,500. These scholarships are a testament to our commitment to providing meaningful financial support to students pursuing careers in accounting.
Embarking on a career in the CPA profession is a significant milestone, and at SCACPA, we understand the financial challenges that can accompany this journey. We are thrilled to introduce the SCACPA Educational Fund’s Student Loan Debt Relief Program, designed to provide meaningful support to graduating CPAs burdened by student loan debt.
Achieving success in the CPA Exam is a significant accomplishment. The journey involves extensive study hours, sleepless nights, and numerous cups of coffee, culminating in a moment of immense relief when a new CPA eagerly checks the final passing grade.
This milestone is deserving of celebration.
In light of this, the South Carolina Association of CPAs Educational Fund presents a distinctive chance for firms and companies to acknowledge those who have conquered the CPA Exam. The SCACPA Ed Fund has the potential to grant bonuses to its members who have successfully navigated the challenges of the CPA Exam.
SCACPA provides the chance to assess your preparedness for both the CPA and EA Exams, helping you pinpoint essential focus areas for success!
Mock CPA Exam
Embark on a distinctive experience that offers you a glimpse into the CPA Exam sections by engaging with questions directly sourced from the official CPA Exam Blueprints. By participating in this opportunity, you’ll not only gain valuable insights but also receive a personalized ReadySCORE™, providing an accurate estimate of your potential exam score.
Mock EA Exam
Immerse yourself in a genuine EA exam simulation meticulously designed based on the official EA examination blueprints. The Mock EA Exam goes beyond a typical practice test, offering a 3 ½ hour immersive encounter to ready you for the real thing.
The Dual Enrollment Accounting program by SCACPA in collaboration with Winthrop University provides high school students in Lancaster County School District with an opportunity to explore the field of accounting while earning college credits. These credits fulfill the requirements for introductory accounting courses at most colleges and universities in South Carolina and the United States. This initiative is designed to establish a sustainable talent pipeline in the accounting profession, giving students a head start on their professional journeys.
Beyond being an educational pathway, the dual enrollment program aims to illuminate students about the diverse possibilities within the accounting profession at an early stage. In doing so, it not only supports their academic development but also instills a sense of purpose and direction in their career choices.
Interested in Getting Involved?
Contact membership@scacpa.org to learn more about volunteering and speaking opportunities!
Rising CPAs engaged in an enriching educational track at the Fall Fest Accounting Conference. Phebe Davis-Culler of Clemson University discussed the Data Analytics Mindset, Kali Von Kuhn from Robert Half shared tips on effective interviews, and attendees put their skills to the test through mock interviews with SCACPA members. The event also featured the Scholarship Recognition Luncheon, fostering continued networking and professional development.
Students at the Fall Fest Accounting Conference had the unique opportunity to engage with experienced CPAs, gaining valuable insights, advice, and guidance on advancing their careers. The event, reaching maximum student capacity, offered practical experience in real-world scenarios like job interviews and client dinners.