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Stock impact report

There's an accountant shortage. KPMG says the ‘150-hour rule' needs to go [Fortune]

Orangekloud Technology Inc. - Class A Ordinary Shares (ORKT) 
Company Research Source: Fortune
A first-generation college student and granddaughter of Mexican immigrants, she's now in her 28th year at KPMG. Previously the national managing partner of the firm's advisory business, she now serves as its vice chair of talent and culture. If she had needed an extra year of school just to get her CPA license , however, Torchia says she would have decided to avoid the profession altogether. “I can honestly say that if the 150-hour rule would have been in place when I was making a decision about what to study,” she recently told me, “I would not have been an accountant, and the reason is because it makes it less accessible.” As of 2015, all U.S. states require 150 semester hours of college education to become a CPA, versus the 120 hours typically needed for a bachelor's degree. That 30-hour difference effectively equates to two semesters' worth of classes. There has been a steady decline in students graduating with accounting degrees—and Torchia says the 150-hour barrier to entr Show less Read more
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