LET’S MAINTAIN THE REQUIREMENT OF 150 SEMESTER HOURS TO SIT FOR THE CPA EXAM: A RESPONSE TO ROBERT W. MCGEE

Abstract

This paper is a series of comments on an article written by Professor Robert McGee, wherein Professor McGee recommended that the 150-hour rule to sit for the CPA examination be abolished. The arguments for and against the 150-hour rule address the fundamental role of US accounting instruction: a well rounded versus technical education. While, in general, Professor McGee’s theoretical arguments are sound and persuasive, there are some practical arguments that he overlooked. There is support for the continued existence of the 150-hour requirement; this support emanates from an examination of the factors affecting the quality of accountants, their supply and demand as well as regulatory considerations.