The 150‐Hour Requirement and the Number of CPA Exam Candidates, Pass Rates, and the Number Passing

摘要: This study examines the association of 150‐hour education requirement with number CPA exam candidates, pass rates, and passing. Proponents argue that additional produces higher quality students who are better prepared for accounting careers. Opponents it imposes opportunity costs on costly barriers to entry into public accounting. On average we find a large drop (36 percent) in candidates each state taking exam, small increase rates first‐time only (3 percent), (31.5 passing after requirement. Our results may be useful educators evaluating success their programs, boards considering revisions requirements, firms setting strategies achieve audit quality.