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On Monday, Rider University became the latest New Jersey higher education institution to launch an initiative to ease the burdens of becoming a Certified Public Accountant – notably the 150 credit hours required to obtain a CPA license.

Through the Rider University CPA Apprenticeship Program, new graduates can earn those required credit hours to obtain a CPA license at a reduced cost of $250 per credit. Participants fulfill the required credit hours via coursework and real-world professional experience through as many as five online courses, while also working at least 34 hours per week with participating firms. Each course is worth six academic credits.

NJBIZ has reported extensively on this topic of bridging that CPA threshold through innovative work for credit programs, a concept spearheaded by Dan Geltrude, founder of Nutley’s Geltrude & Co. and “America’s accountant” who appears on a slew of national news programs. Saint Peters University and PriceWaterhouseCoopers as well as Seton Hall University and Withum have established their own iterations since the concept was approved by the New Jersey Board of Accountancy as an alternative path to 150 credits.

Rider’s program is unique in that the school will partner with a variety of firms – not just one exclusive partner. That makes for a first-of-its-kind offering in New Jersey.

“Our new program is a novel and powerful tool to bridge the gap between academic learning and real-time accounting experiences. We’re proud to offer recent graduates a low-cost alternative to advancing their careers,” said Evelyn McDowell, chair of Rider’s Department of Accounting. “By inviting multiple firms to participate, we are creating flexible opportunities inclusive to a wide range of individuals that will ultimately strengthen the pipeline of CPAs.”

Evolving opportunities

The first participating firm in Rider’s program is East Brunswick-based WilkinGuttenplan.

“The cooperation and commitment of employers are integral to the program’s success, and we are extremely proud to collaborate with WilkinGuttenplan to support aspiring professionals,” said McDonald.

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She noted that the new program was established with the support of Rider’s Accounting Advisory Council, which consists of industry leaders and experts.

“The members of the Council have consistently advocated for creating such a program, which highlights the growing need within the profession,” said McDowell.

Following the announcement, NJBIZ caught up with Geltrude, a Rider alum, who applauded the news.

“I’m really happy that more and more universities are seeing its [Work for Credit] value and that it can work,” Geltrude told NJBIZ. “All the programs are unique, but it gets you the same objective of being able to accomplish getting the extra 30 credits with work experience. That’s the key.”

Each iteration of the concept marks continued momentum toward finding solutions for a critical issue facing the accounting industry — attracting and retaining talent.

“There’s an evolution to it,” Geltrude continued. “And this is the next step – because now you have a university that’s not partnering with a single firm. They’re opening it up so all firms can participate.”

More information on Rider’s new CPA Apprenticeship Program is available here.