A recent NJCPA survey of 187 businesses found 66% struggled to fill accounting
positions over the past year – and 47% said it posed a moderate or high risk to their
operations.
That may be changing in 2026.
New Jersey joined a growing list of states that have modernized requirements to
become CPA, thanks to a bill signed by former Gov. Phil Murphy during his final days in
office.
The bill, which expands the options available for CPA licensure in New Jersey –
including one that requires completing two years of experience and passing the CPA
Exam – will go into effect on Feb. 26.
Intended to increase access to the accounting profession, the bill’s biggest adjustment
is to those using a bachelor’s degree to obtain their CPA. Previously, candidates had
only one option of earning at least 150 credits, which is typically 30 credits more than a
bachelor’s degree or equivalent to a master’s degree, having one year of work
experience in accounting and passing the CPA Exam.
New Jersey joins more than 20 other states that have made similar changes to offer
additional pathways to licensure.
A.J. Johnson, the CEO of the New Jersey Society of Certified Public Accountants, said
the bill impacts the economy in a big way.
“Accountants and CPAs help grow New Jersey’s economy by enriching the business
landscape,” she said. “Accounting enrollments are trending higher at various
institutions, so this will cast a wider net of options for those individuals looking to
become CPAs.”
Johnson and the NJCPA had lobbied hard for the bill, which includes the following
provisions:
New licensure pathway option: In addition to the existing 150-hour option, candidates
will be able to pursue a CPA license by earning a bachelor’s degree, completing two
years of experience and passing the CPA Exam.
Individual practice privileges (mobility): CPAs licensed in another state will be able
to practice in New Jersey as long as they have a bachelor’s or higher degree, have
passed the CPA Exam and have at least one year of experience as a licensed CPA.
The same requirements will be necessary for gaining a reciprocal license in New
Jersey.
Safe harbor provision: CPAs licensed in New Jersey prior to the effective date of the
bill will automatically retain their license.
Assemblyman Sterley Stanley (D-East Brunswick), Assemblywoman Aura Dunn (R-
Morristown) and State Sen. Anthony Bucco (R-Denville) were among the sponsors.
Dunn said the bill will help the sector keep pace with the times.
“The financial services industry is changing with advancements in technology and policy
shifts,” she said. “This law allows New Jersey to evolve with the industry and minimize
hurdles for CPA licensure so that we have qualified people who can meet the increasing
demands of the profession.
“By creating more opportunities for college graduates to earn their CPA license and
encouraging out-of-state CPAs to work in New Jersey, this new law will help businesses
find the talent they need to be successful. More broadly, this is about building a stronger
economy and connecting more people to rewarding careers.”
The bill was supported by many major business organizations, including:
- African American Chamber of Commerce of New Jersey
- Chamber of Commerce Southern New Jersey
- Commerce & Industry Association of New Jersey
- Morris County Chamber of Commerce
- New Jersey Bankers Association
- New Jersey Business and Industry Association
- New Jersey Chamber of Commerce
- Statewide Hispanic Chamber of Commerce of NJ
