A year ago, the federal government said it would require businesses and individuals to pass a certification exam in order to become certified public accountants.
In an effort to combat the rising cost of public accounting, the government also set a goal of certifying 100% of the workforce by 2020.
However, a new survey conducted by consulting firm McKinsey & Co. has revealed that only 17% of Americans are currently certified public accountsants.
The most common reasons people don’t take the certification exam include: not being able to afford it, a lack of time or knowledge of public accounts, or an inability to complete a certification program.
Here are some of the other common reasons that people don,t take the public accounting exam:You can learn more about the McKinsey report here: McKinsey Public Accounting & Public Trusts: The Public Accounting Challenge.
McKinsey’s survey also found that the average public accountant salary was $55,000, but the median salary for an accounting profession in the United States is $71,500.
That’s $1,300 more than the average salary for public accountant positions in Canada.
McKinsey also found a significant increase in the number of people with public accounting degrees: From 5% in 2015 to 9% in 2017, with a median of 7.9% of public accountancy graduates.
A report released by the Government Accountability Office last year said that public accounting students need more time to complete the program.
It also noted that the cost of the public account system is significantly higher than the cost for traditional public accounting programs, so it’s not surprising that most people who don’t complete the certification process are not getting the best possible public accounting degree.
McKenzie Cusick is a public accounting and corporate tax expert.
Follow her on Twitter @CusickMcKinley Public Accounting is Not for EveryoneIf you don’t have a public accountant degree, McKinsey said, you should take a public accounts degree.
Public accounts degree programs typically require students to have a college degree and spend six to 12 semesters on the course.
However it is also possible to take an accounting and public trust certificate program that requires no college and work at a public company for five to 12 months.
McGusey’s Public Accounts survey found that students who completed the Public Accounting Certification Program in 2019 were almost three times more likely to take the exam than students who took a public account certification exam.
This is a significant difference in a country where the average annual tuition for public accounting tuition is $16,000.
McKennedy also found the median earnings for a public financial accountant were $82,000 compared to $52,000 for a certified public accounting professional.
The median annual earnings for an accountant in Canada is $66,000 while the median annual income for public accounts graduates in the U.S. is $73,000.
“The average cost of a public bank account in Canada was $3,200, while the average for a Certified Public Accountant in Canada in 2018 was $5,600.
In the U, the average cost for a bank account is $5.5 million, while for a qualified public account professional in the USA, the cost is $15,000,” McKinsey found.
In other words, the median net worth of a Canadian public account account professional is $18 million, compared to the median household net worth in the US of $51,000 — and that is if they’re making minimum wage.
The Public Accounting Competency TestThe Public Accounts Competency Testing is also a major step toward certifying the public accountant workforce.
This year, the Federal Reserve Board of Governors is conducting a competition for people who will pass the Public Accounts Test.
The public account test requires a person to meet three of the following: pass a written test that contains no math or language restrictions; pass an examination that includes math and language restrictions but not word puzzles; and pass a test that includes questions that are easy to answer.
The results of this year’s exam will be announced in January 2020.
The Federal Reserve said the Public Account Competency Assessment will take place in the spring of 2021.
McKensey said that the test has the following characteristics:It requires a minimum of six to twelve semesters of studying in public accounting courses and at least one year of working in a public agency.
The exam consists of five sections, each consisting of one question that must be answered correctly to pass.
The minimum time required to pass the test is three months.
It is open to those who meet the following criteria:Have a bachelor’s degree or higher.
Have no more than $50,000 in income.
Have not been unemployed since September 2019.
Have a public insurance card, disability insurance or pension plan that pays benefits.
McKNEE has not yet released the results of the 2018 exam, but in 2018, the Public Auditor Standards Board, which certifies public account holders, rated the exam as the sixth best in its history