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CPA Exam rule changes go into effect Oct. 20

Written on Oct 7, 2021
OSCPA staff report 


The Accountancy Board of Ohio on Oct. 5 finalized rule changes advocated by The Ohio Society of CPAs that will clarify when future CPA Exam candidates may begin the exam process. 

The rule change is in line with the regulatory reforms adopted last year by the Ohio General Assembly through House Bill 442 that – as recommended by OSCPA’s young CPAs, student members and employers of CPAs – permitted candidates to start the exam process when they reach at least 120 of the needed 150 semester hours of education. 

The rule, 4701-3-03 – which will become effective Oct. 20 – will allow students who have completed at least 120 semester hours of education to start taking one or more parts of the CPA Exam after finishing at least 24 of the required 30 accounting hours and 24 business hours. The 24 hours must include coursework in auditing, financial accounting, management accounting or cost accounting, and taxation. All 150 semester hours, including all 30 accounting hours, still must be completed for licensure. 

“This is an important move that will provide an incentive for young CPAs to stay in our state,” said OSCPA President & CEO Scott Wiley, CAE. “We thank Ohio legislators and the Accountancy Board of Ohio for making this needed change a reality.” 

OSCPA heard from numerous individuals how difficult it is to finish four parts of the CPA exam at the same time they are working in a demanding accounting position. The law and rule changes put Ohio in line with at least 37 other states and the District of Columbia in allowing candidates to start the exam process as soon as they have secured a bachelor’s degree or its equivalent. They also put Ohio CPA candidates on even footing with most other states by allowing candidates to start the exam process sooner in their college journey and while still in study mode, speeding up when they ultimately can be licensed and giving them another incentive to stay in Ohio. 

We welcome your comments! 

Get answers to your questions and share your thoughts and insights on legislative and regulatory issues of concern to you by contacting OSCPA's Government Relations team

And to learn more about the legislative process that helped bring about the passage of H.B. 442 and other issues of interest to the profession, join us Dec. 3 for Advocacy in Action. Click here for more information or to register.