Perceptions of Challenges on the CPA Exam: Evidence from Puerto Rico
Advances in Accounting Education: Teaching and Curriculum Innovations
ISBN: 978-1-80071-702-2, eISBN: 978-1-80071-701-5
Publication date: 2 December 2021
Abstract
Puerto Rico (PR) is among the US jurisdictions with the lowest passing rates on the Certified Public Accountant (CPA) exam (National Association of State Boards of Accountancy (NASBA), 2016, 2017). No prior studies have addressed this issue. To fill this gap, the authors conducted a survey among candidates to examine the factors perceived as challenges on the exam. The authors also studied the relationship between respondents’ individual, educational, and CPA exam-related characteristics and the likelihood of success on the exam. Results reveal there are three factors perceived by respondents as their main challenges: level of technical difficulty, cost of the exam, and not enough time to study for the exam. Additional analysis indicates that age, major Grade Point Average, weekly study hours, and the time interval between graduation and the first attempt at the exam are significant factors that affect the passing rates on the exam. These findings suggest that a combination of individual, educational, and exam-related factors affect Puerto Rican candidates’ results on the exam. The socioeconomic background of PR may heighten the impact of such factors. Considering that the accounting profession is always adapting to the evolutionary demands of the business environment, these results may contribute to the development of adequate measures in support of Puerto Rican and other minorities with diverse backgrounds.
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Acknowledgements
Acknowledgments
The authors would like to thank the editor and two anonymous referees for their helpful recommendations and suggestions. We are also grateful for valuable comments received from Aníbal Báez-Díaz, Nidia S. Carrero, Gabriel A. De La Luz-Rodríguez, Marsha M. Huber, Dennis M. López, Wanda Rivera-Ortiz, and Valaria P. Vendrzyk on earlier drafts of the manuscript. We also appreciate the recommendations received from the participants at the 2017 First Research and Creative Activity Conference of Puerto Rico Accounting Professors, the 2016 AAA Diversity Section Midyear Meeting, the 2016 AAA Mid-Atlantic Region Meeting, the 2015 AAA Diversity Section Midyear Meeting, and the 2015 AICPA Pre-certification Education Executive Committee (PcEEC) Semi-Annual Meeting. We also would like to thank Juan M. García-Merced, the Puerto Rico Society of CPAs, and the NASBA, for providing us with access to participants of the Becker Puerto Rico CPA Review Course, participants of a CPE seminar, and exam performance data, respectively. This study was financially supported by a PwC INQuires Research Grant and a summer research grant from the School of Business Administration of the University of Puerto Rico-Río Piedras. The sponsors were not involved in the study’s design; in the collection, analysis and interpretation of data; in the writing of the report; or in the decision to submit the manuscript for publication.
Citation
Cardona, R.J., Castro-González, K.C., Ríos-Figueroa, C.B. and Vega-Vilca, J.C. (2021), "Perceptions of Challenges on the CPA Exam: Evidence from Puerto Rico", Calderon, T.G. (Ed.) Advances in Accounting Education: Teaching and Curriculum Innovations (Advances in Accounting Education, Vol. 25), Emerald Publishing Limited, Leeds, pp. 177-197. https://doi.org/10.1108/S1085-462220210000025011
Publisher
:Emerald Publishing Limited
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