Inaugural Lottery Sponsored by Whitman Business Advisors

The New Jersey Society of Certified Public Accountants (NJCPA) has awarded 10 aspiring CPAs with $750 each towards their CPA Exam fee costs. All winners of the inaugural CPA Exam Fee Lottery are either Student or CPA Candidate members of the NJCPA and were selected at random from a pool of more than 120 entries.

Launched in October, the CPA Exam Fee Lottery was designed to offset the high cost of taking the CPA Exam, which can exceed $1,000 when factoring in all four parts of the Exam and initial application fees. Exam takers can also incur additional fees of several thousand dollars if they use review courses, study guides and/or other preparation. Whitman Business Advisors, a provider of strategic consulting for CPA firms, sponsored the lottery for the students.

The winners include:

To be eligible, the winners have to sign up to take the first part of the four-part CPA Exam between Dec. 1, 2019, and Nov. 30, 2020, and they must be currently enrolled in a New Jersey college or university or graduated within the past five years. Winners also must not be receiving compensation for taking the Exam from their employer.

“It’s a great honor to help these 10 students,” said Phil Whitman, CPA, CEO and president of Whitman Business Advisors. “When my son, Charles, was signing up for the CPA Exam, I had lost sight over the years of how costly it had become. Most young professionals need a coaching course, which could be another $2,500 to $3,500. It’s a pretty hefty sum.”

“This is a tremendous opportunity to assist our aspiring CPAs on their path to a great career,” said Ralph Albert Thomas, CPA (DC), CGMA, CEO and executive director at the NJCPA. “We are pleased with the participation this year and hope to have even more interest next year.”