Question: When can I apply?

Response: The new exam and licensure changes take effect January 1, 2002. If you meet the new requirements, you may apply any time after that date.

Also, you may apply for the May 2002 exam under the new exam requirements. Online applications will be available Jan. 2, 2002. The deadline for first-time applicants is Feb. 1, 2002.

Question: Will the "new" CPA license be considered substandard? Is this two-tier licensing?

Response: No, this is not a two-tiered system. Whether individuals choose to be licensed through Pathway 1 or Pathway 2 they will be regarded with the same respect and afforded the same opportunities as all CPAs. (Click here for description of the pathways.) There really are two key differences. Under the new requirements, not every CPA will be able to perform attest services. You will only be able to sign attest reports if you have logged the requisite 500 hours of attest experience. The other key difference is that Pathway 2 mirrors more closely the licensing requirements in several other states. As a result, it will be easier for CPAs who are licensed under Pathway 2 to obtain substantial equivalency in other states.