The Frank J. Guarini School of Business at Saint Peter’s University today announced a pilot program developed in collaboration with PwC, a professional services firm providing services across two segments: Trust Solutions and Consulting Solutions. The pilot program is a paid, 30-credit post-bachelor experience offered by Saint Peter’s and work experience at PwC that will enable accounting students to earn the necessary credits for a Certified Public Accountant (CPA) license in New Jersey through a “Work for Credit” program.
Pictured are representatives from PwC, students enrolled in the pilot program, financial and political expert Dan Geltrude and members of the Saint Peter’s Task Force and University administration.
In order to qualify for a CPA license, individuals need (among other requirements) 150 credit hours, including specific coursework; however, students only obtain 120 credit hours through a traditional undergraduate program. Unfortunately, many accounting students are unable to close the gap to obtain the 30 additional credit hours necessary for the CPA license because the options to do so can be costly and time consuming. In May 2022, the New Jersey State Board of Accountancy approved an alternative path for accounting students, which enables them to obtain their final 30 credit hours through a “Work for Credit” program. New Jersey is currently the only state in the country to offer this alternative path and Saint Peter’s and PwC are leading the way to address the new credit completion route.
“This groundbreaking program has already provided six Saint Peter’s students with a life-changing opportunity that can change the trajectory of their careers and their lives,” said Mary Kate Naatus, Ph.D., KPMG dean of the Frank J. Guarini School of Business. “I am incredibly grateful to the members of the Saint Peter’s Task Force for their efforts in making this transformational program possible and to the PwC team for providing this opportunity for our deserving accounting students.”
The Saint Peter’s accounting students involved in the University’s pilot program.
Accounting graduates who participate in the program can accomplish three important objectives at once: (1) Participants can earn 30 credits through a “Work for Credit” program; (2) they can gain work experience that will count towards the “one year of intensive and diversified experience” required for CPA licensure, per NJAC 13:29-1A.3(e) and (f); and (3) they can earn a full-time salary and benefits as an employee of PwC.
The Task Force is comprised of Lori A. Buza, Esq., chair of the accountancy and law department; Brigid D’Souza, C.P.A., M.B.A., assistant professor of accounting; and Philip Sookram, C.P.A., M.Acc., assistant professor of accounting. The Task Force worked during the 2021-22 academic year and through the summer in order to launch the program for fall 2022.
“Our pilot is designed to reimagine the path forward and introduce options for aspiring accounting professionals,” said Rod Adams, PwC talent acquisition & onboarding leader. “We’re opening new doors and creating new opportunities so we can continue to support our clients, strengthen our culture and uplift our communities.”
The six current participants in the program are recent Saint Peter’s graduates from the Department of Accountancy & Business Law. PwC will supervise the participants at work and the Task Force will advise and assess the participants for the duration of the program.
About Saint Peter’s University
For 150 years, Saint Peter’s University, inspired by its Jesuit, Catholic identity, commitment to individual attention and grounding in the liberal arts, educates a diverse community of learners in undergraduate, graduate, doctoral and professional programs to excel intellectually, lead ethically, serve compassionately and promote justice in our ever-changing urban and global environment. To learn more, please visit www.saintpeters.edu.
About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 155 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.