Crisis in US Accounting Education

In 2001, Professors W. Steve Albrecht and Robert J. Sack wrote in their 2001 CPA Journal article that the accounting practice community perceived accounting education to be completely outdated. Fewer students majored in accounting, many accounting firms perceived accounting students higher educational training as outdated and hired fewer accounting majors. In 2021, these issues are still prevalent. This chapter discusses what has changed over the last 20 years and what issues are faced with current accounting graduates. A more agile accounting profession, a new CPA exam approach in 2024, and the use of more advanced analytical and technological tools in the profession only make the challenge to higher education even harder. The discussion then concludes with mitigating strategies to not only improve requisite skills that the profession demands, but also discusses strategies to curtail declining enrollment trends.

Factors Affecting the Success in Certified Public Accountant Exam in Kuwait

The aim of the article is to assess the variables that are influenced performance on the Certified Public Accountant (CPA) exam in Kuwait. To achieve the aim of the study, structure questionnaire was improved and delivered to a sample of (150) of the study population of candidates recently licensed CPAs to find out their interpretations of the causes that influence their performance on the CPA exam, the amount of questionnaires returned and ready for analysis was (120),with a reply rate of 80%. The study showed that the success of the CPA exam in Kuwait is generally dependent on factors related to the exam itself and the candidate who is taking the exam. It reported that the most important challenges linked to the CPA exam are unlimited scope of the CPA exam followed by the exam's questions do not cover all subjects and the exam does not measure the examinee's capabilities. Moreover, the analysis showed that insufficient preparation of the exam is the main variable affecting the performance of CPA exam followed by accepting the idea of repeating the exam. Finally, the study recommends that academicians in accounting should train the students for the exam. They should pay attention to curriculum to assure that learners are provided the good training for the examination.

A Framework for Auditor Data Literacy: A Normative Position

Due to the nature of the current data--driven business environment, many accounting firms are starting to re-align their audit processes to incorporate technology and Audit Data Analytics (ADA), as the traditional audit procedures would seem to not be sufficiently effective and efficient to meet evolving market expectations (Byrnes et al., 2018; Forbes 2017, 2018). This paper provides commentary on how data analytics knowledge should be required of the profession, in addition to that of traditional accounting. We discuss the current information-centric business environment, the availability of Big Data, and the existing data analytics efforts made by businesses, with its subsequent impact. Regarding the complementarity of available data analytics tools and data analytics knowledge, it proposes a guideline for the content and levels of ADA knowledge and skills that should be required of auditors serving in different roles. Finally, suggestions are provided to facilitate the adoption of ADA and provide solutions to challenges in the CPA exam, audit standards, and education. In this data-centric business environment, acquiring the knowledge and skills of data analysis should be a current professional priority.

The MSA is Dead. Long Live the MSA(A)!

An M.S. in Accountancy (MSA) remains the leading graduate academic credential for students seeking to obtain employment in public accounting or corporate accounting positions. Our research corroborates the increasing demand for graduates with strong technology and analytics knowledge and skills. We advocate for an evolution from the “old” MSA model that prepares students for the CPA exam, to an “advanced” model in which the MSA essentially evolves into an MSAA (MS in Accounting Analytics). We begin with a look at the “demand” side for MSAA skills, and then describe the new MSAA degree currently offered at XXX University [1] as an example of how one university is adapting to meet this new demand. The paper concludes with advice for other programs to adapt their own MSA programs.[1] University name to be added post-review.