Arkansas CPA Ethics Exam Requirements [2022]

Arkansas CPA Ethics Exam Requirements

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Arkansas CPA Ethics Exam Requirements

While most states require ethics before licensing, Arkansas candidates can become a CPA without it as there are no Arkansas CPA ethics exam requirements. However, candidates are required to take one hour of Arkansas Board Ethics covering the Accountancy Law and Board Rules as part of the annual CPE requirements. This requirement replaces one of the four hours of ethics from previous Board Rule requirements (now requiring one hour of ASBPA Ethics and three additional hours of ethics over every three-year period).

Summary of Arkansas CPA Requirements

Credit hours to sit for the CPA exam120
Bachelor’s required to sit for the CPA examYes
Credit hours in upper level Accounting to sit for the CPA exam & to receive a CPA license30
Credit hours in Business other than Accounting to sit for the CPA exam & to receive a CPA license30
Total credit hours to receive a CPA license150
Work experience required to receive a CPA license1 Year
Ethics exam required for CPEYes

Required Courses

Meet the State Board of Public Accountancy’s CPA degree and particular coursework requirements. Your 150 semester hours must include the following courses from your bachelor’s program, any additional undergraduate credits you acquire, and graduate work:

  • Accounting courses must contain at least 30 semester credit hours of undergraduate accounting courses beyond the fundamentals level, at least 20 semester credit hours of graduate accounting courses, or a combination of the two. Each of these upper-level accounting courses must be completed with a grade of C or higher. The following systems must be included in the accounting component:
    • Accounting information systems
    • Auditing and attestation
    • Federal taxation
    • Not-for-profit accounting
    • Governmental accounting
    • Management accounting
    • Financial accounting
  • A minimum of 30 semester credit hours of undergraduate business courses (other than accounting), 20 semester credit hours of graduate business courses (other than accounting), or a combination of the two is required for business courses. Each business course must be completed with a grade of C or above.

By completing an accounting internship, you may earn three semester credit hours in the accounting or business component (but not in both).

You may earn three semester credit hours in the accounting or business component (but not in both).

You may earn a maximum of three semester credit hours for military service. These semester credit hours may not be used toward fulfilling the accounting component.

Foreign Education

If you attended a foreign institution or college, you must have your credits evaluated by a National Association of Credential Evaluators member organization. To begin this procedure, contact a member agency directly.

Accepted Educational Institutions

If you received your education in a quarter-system institution, double your hours by two-thirds. Whatever system your school works under, it must be fully accredited by one of the following regional agencies:

  • Middle States Association of Colleges and Schools
  • Southern Association of Colleges and Schools–Commission on Colleges
  • Higher Learning Commission
  • Western Association of Schools and Colleges–Commission for Senior Colleges
  • New England Association of Schools and Colleges–Commission on Institutions of Higher Education
  • Northwest Commission on Colleges and Universities

Gather your materials and fill out the entire application once you have fulfilled the educational prerequisites to sit for the exam. Official sealed transcripts from any college or university you have attended will be required. Transcripts should be provided directly to the Board Office, where they will be put in your file.

Pass the Uniform CPA Examination

The “Uniform CPA Examination”, which is a 4-part exam, is developed by the AICPA – the American Institute of Certified Public Accountants and administered by NASBA – the National Association of State Boards of Accountancy.

The Four CPA Exam Sections are:

Auditing and Attestation (AUD)

The Auditing and Attestation (AUD) section of the Uniform CPA Examination (the Exam) tests the essential knowledge and skills a newly licensed CPA must demonstrate when performing audit engagements, attestation engagements or accounting and review service engagements.

Newly licensed CPAs are required to:

  • Demonstrate knowledge and skills related to professional responsibilities, including ethics, independence and professional skepticism. Professional skepticism reflects an iterative process that includes a questioning mind and a critical assessment of audit evidence.
  • Understand the entity including its operations, information systems (including the use of third-party systems) and its underlying business processes, risks and related internal controls.
  • Understand the flow of transactions and underlying data through a business process and its related information systems.

Business Environment and Concepts (BEC)

The Business Environment and Concepts (BEC) section of the Uniform CPA Examination (the Exam) tests knowledge and skills that a newly licensed CPA must demonstrate when performing:

  • Audit, attest, accounting and review services
  • Financial reporting
  • Tax preparation
  • Other professional services

The content areas tested under the BEC section of the Exam encompass five diverse subject areas. These content areas are enterprise risk management, internal controls and business processes, economics, financial management, information technology and operations management.

Financial Accounting and Reporting (FAR)

The Financial Accounting and Reporting (FAR) section of the Uniform CPA Examination (the Exam) assesses the knowledge and skills that a newly licensed CPA must demonstrate in the financial accounting and reporting frameworks used by business entities (public and nonpublic), not-for-profit entities and state and local government entities.

The financial accounting and reporting frameworks that are eligible for assessment within the FAR section of the Exam include the standards and regulations issued by the:

  • Financial Accounting Standards Board (FASB)
  • U.S. Securities and Exchange Commission (U.S. SEC)
  • American Institute of Certified Public Accountants (AICPA)
  • Governmental Accounting Standards Board (GASB)

Regulation (REG)

The Regulation (REG) section of the Uniform CPA Examination (the Exam) tests the knowledge and skills that a newly licensed CPA must demonstrate with respect to:

  • U.S. federal taxation
  • U.S. ethics and professional responsibilities related to tax practice
  • U.S. business law

Tips for Passing the CPA Exam

The CPA exam covers so many topics that you will need to study specifically for each section, usually for 6-8 weeks per section. Even a master’s degree in accounting doesn’t adequately prepare you to just walk in and pass the 4 CPA exams.

You will need a full review course such as Becker, Wiley CPA, Gleim, Roger, etc, and you will need to dedicate several hours a day over the course of months to even have a chance at getting passing scores.

How to Save Yourself MONTHS of Time and Frustration
Keep in mind that the CPA exam is the one part of getting your CPA license that you can control how long it takes. The education and experience requirements take as long as they take, but the CPA exams can take you as little as 6 months, or as long as multiple years… depending on how effective your study process is from the beginning.
Learn how to study strategically so you can save yourself tons of time and retake fees with this free training…

Arkansas CPA Exam Cost Breakdown

The Arkansas CPA exam cost consists of five main fees: an initial exam application fee of $50, the $226.15 per CPA exam section totaling $905 for all four sections, the application‐section fees which will depend on the number of sections taken, an initial licensing fee that costs $50 and then the $110 annual license fee.

Initial Application$50.00
Auditing and Attestation (AUD)$226.15
Business Environment and Concepts (BEC)$226.15
Financial Accounting and Reporting (FAR)$226.15
Regulation (REG)$226.15
Total for all 4 CPA Examination Provider Fee$905.00
4 Examination Sections$120.00
3 Examination Sections$105.00
2 Examination Sections$90.00
1 Examination Section$75.00
Initial CPA License Registration Fee$50.00
Annual License to Practice Fee$110.00

How to Save Yourself MONTHS of Time and Frustration
Keep in mind that the CPA exam is the one part of getting your CPA license that you can control how long it takes. The education and experience requirements take as long as they take, but the CPA exams can take you as little as 6 months, or as long as multiple years… depending on how effective your study process is from the beginning.
Learn how to study strategically so you can save yourself tons of time and retake fees with this free training…

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