Certified Public Accountants are licensed to practice in the US.
This particular accounting qualification requires a candidate to fulfil the ‘3Es’
- Education
- Examination, and
- Experience
Eligibility
To qualify as a CPA, you have to successfully clear all the tests conducted by the American Institute of Certified Public Accountants (AICPA). AICPA conducts the exam across all the 55 States in the US.
The eligibility and experience required to become a CPA vary from one US state to another. All the 55 States are members of the US National Association of State Boards of Accountancy (NASBA).
A CPA license is valid only in the state it has been taken from, and not in the entire country. But, a CPA license can practise in a different state if he/she meets the eligibility requirements of that state.
CPA Exam
The CPA examination is an online test held at more than 400 Prometric centres across the US.
The test is held twice every financial quarter. The time period in which candidates can attend the test is known as the ‘Testing Windows’
The Testing Windows are:
- January 1 – March 10
- April 1 – June 10
- July 1 – September 10
- October 1 – December 10
Examination Pattern
The CPA exam pattern is the same across all the 55 US states.
It comprises four sections which have to completed within 18 months.
| Subject | Time (hours) | Questions |
| Auditioning and Attestation (AUD) | 4.5 | 90 questions and 7 task-based simulations |
| Business Environment and Concepts (BEC) | 4 | 2 questions and 3 written communication tasks |
| Financial Accounting and Reporting (FAR) | 3 | 90 questions and 7 task-based simulations |
| Regulation (REG) | 2.5 | 72 questions and 6 task-based simulations |
Results
CPA results are declared on a scale of 0-99. Those who score a minimum of 75% are declared passed. You can visit www.aicpa.org to understand how the scoring is done.
Going after your CPA is a big decision – with a potentially bigger payoff.By 2022, these and other accounting positions will number 1.6 million.
