- For other meanings of "CPA" see CPA
(disambiguation)
Certified Public Accountants (CPAs) are accounting professionals of the United States who have passed the Uniform CPA exam, which was developed and is maintained by the American
Institute of Certified Public Accountants (AICPA), and have subsequently met additional state requirements for licensure as a
CPA. Only CPAs are professionally licensed to provide to the public, attestation (including auditing) opinions on publicly
disseminated financial statements. Many states prohibit
those without a CPA license to call themselves a "public accountant". According
to National Society of Accountants, "public accountant" do exist nationwide subject to certain exceptions. Also, consumers should
check with individual state boards of accountancy for conditions under which a CPA certificate is granted such as required
full-time auditing experience or none.
CPA exam
The Uniform CPA exam was developed and is maintained by the American Institute of Certified Public Accountants, and is
administered by the National Association of State Boards of Accountancy. Although the exam is uniform, licensing requirements are
formed individually by each state's own laws, but vary only slightly by each state. States typically require:
- Completion of accounting program at a university/college with 150 credit hours. Required courses are also defined.
- Pass the CPA exam.
- Working experience of public accounting for certain period of time (for example, one year).
- Take certain courses annually to keep the license.
Because of different requirements in each state one has to meet the requirement of the state if s/he wants to practice in
another state. Some states also require an additional exam before being licensed in the state.
Before November 2003, exams were offered twice a year, in May and November. The four
sections were given in a two-day period.
Since April 5, 2004 the exam has been
entirely computer based. Research skill as well as use of word processing and database
software is required.
The year is divided into four windows. In each three-month window the candidates can take any number of the sections, once for
each section on a window, in the first two months (January and February, April and May, and so on).
The sections have been reorganized as follows:
- Auditing & Attestation (4.5 hours)
- Financial Accounting & Reporting (4.0 hours)
- Regulation (3.0 hours)
- Business Environment & Concepts (2.5 hours)
The results are available within 60 days taking the exam. The credits for the passed sections are valid for 18 months. If the
candidate does not pass all the four sections in the period each section will expire in 18 months.
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