2021 August 30 Archive - EXEIdeas – Let's Your Mind Rock

The National Association of State Boards of Accountancy (NASBA) assists each State Board in evaluating US CPA candidates, determining educational criteria, and helping candidates pass the CPA exam.The most straightforward approach to getting your CPA license is as a two-step process: complete your State Board’s requirements and pass the US CPA exam.What Is NASBA?The purpose of NASBA is to improve the efficiency of the country’s state boards of accountancy. They achieve this purpose in a variety of ways:It provides a platform for regulators and practitioners in the field of accounting. The NASBA generates comment letters in response to various regulatory proposals, including those from the AICPA, PCAOB, and other organizations.It addresses challenges that affect the accounting profession’s viability, such as legislative and regulatory issues.It offers products and services to its members to educate and inform accountants and support boards of directors. To assist Boards in communicating successfully, NASBA can provide email strategies, digital publications, and video services.The National Association of State Boards of Accountancy (NASBA) also runs the Center of Public Trust (CPT), which offers professional ethics training and award programs.To a considerable extent, the CPA profession is still a self-regulatory sector. As a result, NASBA strives to maintain high standards for the profession to continue to bear this obligation.The Objective Of NASBA:One of NASBA’s objectives is to guarantee that each State Board keeps the authority to decide the education requirements for taking the exam in their respective states and the authority to impose continuing education obligations. NASBA also works with legislators, regulators, and the general public to ensure that each Board retains its power.NASBA ensures an effective and transparent Peer Review procedure as one technique for maintaining public confidence in the CPA profession. This initiative allows CPA firms to review and comment on work done by other firms to maintain high standards.The accounting profession requires a “pipeline” of new CPAs; NASBA is working on programs to improve the number of persons who become CPAs. As a result, the organization keeps an eye on educational trends that may impact the quality of CPA candidates.NASBA also collaborates with state boards to establish a program known as Substantial Equivalency, which allows licensed CPAs to practice in new jurisdictions with minimal paperwork.Finally, NASBA now provides the CPA exam in nations other than the United States, allowing exam candidates who work or live abroad to take the exam. Currently, the CPA test is available in England, Scotland, Ireland, Germany, and a few more nations.International Outreach:NASBA now offers the International CPA Examination Program to foreign citizens seeking a CPA license in the United States. As a result, this program aids in the filling of the CPA pipeline.A mutual recognition agreement (MRA), for example, allows accountants from other nations to practice in the United States without having to complete the entire credentialing procedure. The converse is also true, implying that CPAs in the United States can work in other countries by using MRA.NASBA And CPA Licensing:Working with the state boards of accountancy that grant these licenses, NASBA plays an essential role in the CPA licensing process. The steps to becoming a CPA and how NASBA enters into the picture are as follows:Apply to your state board: Apply to your State Board of Education. Although each state’s education requirements varied significantly, the industry is trending toward a standard of 150 hours of college credit, including a set number of hours in accounting courses. CPA candidates must submit their academic transcripts together with their Board application.Notice to Schedule: Pay all payments when your CPA exam application has been accepted, and you will be qualified to take sections of the exam. A Notice to Schedule (NTS) will be sent to you by NASBA. CPA applicants bring the NTS to the test site and log into the test software using it.Scheduling the exam: You can arrange your exam with Prometric, the testing corporation that conducts the CPA exam, using the notification. NASBA collaborates with Prometric to set test dates and times, time limitations and rescheduling tests.Grading: The AICPA created and grades the Uniform CPA Examination, and the exam’s curriculum is described in the AICPA Blueprint.NASBA collaborates with state boards on education requirements so that CPA candidates can follow a well-defined path to meeting the Board’s criteria. Many students, for example, may not major in accounting but return to school to take courses. The National Association of State Boards of Education (NASBA) assists each State Board in providing clear recommendations on educational requirements for these individuals.Candidates have found that taking the CPA exam through test centres has made the process considerably more manageable. As a result, NASBA has taken the initiative in developing a user-friendly web-based system.Simandhar Education:Simandhar Education, India’s most trusted training institute for US CPA, US CMA and Diploma IFRS.We are Channel Partner of AICPAOfficial partners of Becker Professional EducationApproved as a partner of a fast-forward academy for the Enrolled Agent in India.June 30, 2021 – A Memorable day, not just only for Simandhar Education but for the whole CPA fraternity from India, when Sripal Jain, Co-Founder, CEO at Simandhar Education, was hosted by NASBA at Nashville, USA.About the Author:Madhuri Latha Kamsali is the SEO & Content Strategist at Simandhar Education and has 2 years of experience in content writing and blogging. She loves pursuing excellence through writing and has a passion for technology & educational content.