1924 Tax appeals board recognizes CPAs. Title IX of the Revenue Act of 1924 creates a board of tax appeals to rule on disputed assessments made by what was then called the Bureau of Internal Revenue. Admission to practice before the board is limited to attorneys and CPAs. It was, in fact, the first official recognition of certified public accountants as a class by an agency of the federal government. In the same year The national organization's committee on education creates an outline of a standard curriculum for university courses in accounting.
Education becomes focus.
Warren Nissley, an Arthur Young partner, organizes a placement bureau to attract college graduates to the profession. It is abandoned during the depression, but the bureau is credited with beginning the shift to recruiting college graduates rather than high school graduates with bookkeeping experience. The profession's first recruiting brochure is called Accounting is a Career for Educated Men. In 1929 New York will enact the first law calling for a bachelor's degree to earn the CPA certificate. Verification of Financial Statements, a revised version of the article in the 1917 Federal Reserve Bulletin, is published.