One study suggests there is little if any upside but plenty of downside.
By CPA Trendlines Research
Four decades ago, the American Institute of CPAs promulgated a rule requiring accountants to complete 150 credit hours to qualify for certification, an increase from 120 hours. Basically, it required a fifth year of college education.
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State boards of accountancy had discretion over when to enact the rule. By 2015, all states and U.S. territories had adopted it.
Fun fact: the national rule did not impose any requirements on what courses the students had to take. It didn’t have to be courses on tax law or accounting standards. Philosophy, music theory or basket-weaving would do. State boards, however, often mandate specific course requirements.
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