Wednesday, September 30th, 2020

CPA Exam Benefits

“I’m forever testing myself. As a person and as an actor, I have no sense of competition.” – Michael Caine

I often receive inquiries about the benefits package a public accounting firm should offer. My advice? Be generous!

For example, firms approach paying for the CPA Exam and for the pre-exam study course in varying manners. Of course, some firms are more generous than others.

You are a CPA firm. You need CPAs. Communicate this fact to all your new accounting graduates (and others who have not yet passed the Exam).

Here’s an example of an Exam policy:

John Doe & Company CPA Exam Policy

(Name of firm) is first and foremost a CPA firm. The expectation has always been that, as soon as possible, each of us will sit for and pass the CPA exam. Including our college education, it is the completion of the basics and the foundation that each of us need to practice the profession of public accounting.

Effectively immediately, the firm’s policy on passing the exam is as follows:

  1. For new college graduates joining the firm, the expectation is that you will complete the exam by your two year anniversary with the firm.
  2. For the existing team, the expectation is that you will have it completed within two years of today’s date.
  3. As you will see in the firm’s goal-setting process, if you have not passed the exam your number one goal will be to do so. The achievement of this goal will have a significant impact on your compensation.
  4. Although we do not want to focus on the negative, if the exam is not completed within the above time frames it will be a serious impediment to your career with the firm. We will evaluate each situation on an individual basis.   

We are disassociating the passing of the exam to staff levels within the firm. In other words, you no longer have to have the exam passed to be promoted to senior. The level at which you are performing will be the only factor that determines your title.

We are enhancing our benefits related to the CPA exam as follows:

  • We will pay for 100% of Becker, Surgent, or another review course approved by the firm. This will be paid upfront and will be refundable to the firm if you do not complete the review course.
  • We will now pay the 50% reimbursement of exam fees upfront with no maximum.
  • The firm will pay a $1,000 bonus upon certification from the state licensing agency and will also have your certificate professionally framed.

To summarize, passing the exam is your top priority. The firm will do everything that we can to help you and to accommodate the process. We hope that the enhancements above will make a difference. But, you have to take it and pass it. Please give it the importance that it deserves in your career. 

Again, my message to all firms is to be generous.

  • "Everything you want is out there waiting for you to ask. Everything you want also wants you. But you have to take action to get it. "
  • Jack Canfield

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