Latest news with #NJCPA
Yahoo
5 days ago
- Business
- Yahoo
NJCPA appoints new president for 2025-26 term
The New Jersey Society of Certified Public Accountants (NJCPA) in the US has announced John Szczomak as its new president for the 2025-26 term. Szczomak, a member of the NJCPA since 1990, took over the role from June Toth, principal at WilkinGuttenplan, on 1 June. In his upcoming term as NJCPA president, Szczomak aims to tackle the challenges of the CPA pipeline by encouraging more individuals to pursue careers in accounting and by mentoring the next generation of professionals. Szczomak's career spanned the Cooperation with Bankers Committee, Healthcare Committee, Financial Services Resource Group, and Accounting & Auditing Standards Interest Group. He has also held positions as NJCPA trustee, treasurer, and secretary, as well as being a New Jersey CPA Political Action Committee Trustee, on the Essex Chapter Board, and an NJCPA Scholarship Fund Trustee. With more than 38 years of experience at Smolin, Lupin & Co, Szczomak has built a career focusing on tax services for high-net-worth individuals and sectors such as healthcare, retail, and professional services. NJCPA CEO and executive director Aiysha Johnson said: 'We are pleased to welcome John as president and are very excited by his enthusiasm to connect with younger professionals and inform them about this great profession. 'Mentoring is important in all fields, but it is particularly needed in accounting to explain the many opportunities that are available to CPAs.' In May 2025, the New Jersey General Assembly in the US passed legislation aimed at modernising the path to becoming a certified public accountant (CPA) in the state. The bill, known as A5598, is a response to the difficulties local businesses have encountered in recruiting qualified CPAs. "NJCPA appoints new president for 2025-26 term" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
NJCPA proposes new route for CPA licensure in New Jersey
The New Jersey Society of Certified Public Accountants (NJCPA) has introduced a proposal aimed at establishing an alternative route for CPA licensure within the state. This initiative seeks to amend New Jersey's Accountancy Act, allowing candidates to qualify by obtaining a bachelor's degree, completing two years of professional experience, and successfully passing the CPA Exam. Identified as bill A5598, the proposed legislation is backed by Assemblyman Sterley Stanley (D-East Brunswick). It received approval from the Assembly Regulated Professions Committee on 15 May, representing a notable advancement in the licensure process for prospective CPAs. At present, candidates are required to complete a minimum of 150 credits, which entails a bachelor's degree plus an additional 30 credits or a master's degree. They must also acquire one year of work experience in accounting and pass the CPA Exam to be eligible for licensure. The suggested modifications would provide an alternative pathway for candidates while still preserving the current requirements. The New Jersey State Board of Accountancy (NJBOA) has shown its support for this new licensure option. Additionally, the bill includes provisions for individual practice privileges for out-of-state licensed CPAs who hold a bachelor's degree or higher, have successfully completed the CPA exam, and possess at least one year of experience. A recent survey conducted by the NJCPA indicated that 66% of 187 businesses faced difficulties in sourcing accounting talent over the past year. Among these firms, 47% reported that this shortage has presented a moderate or significant risk to their operations. NJCPA executive director and CEO Aiysha Johnson said: 'The introduction of an additional path to CPA licensure will allow for greater flexibility in the licensure process without compromising the rigorous educational and experiential requirements that ensure CPAs remain trusted advisors. 'Keeping the profession open and accessible to promising young professionals is crucial, not only to the accounting field itself but to the communities CPAs serve.' "NJCPA proposes new route for CPA licensure in New Jersey" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
