1. Meet the Education Requirements to Sit for the CPA Exam
To meet the Arkansas requirements to sit for the CPA exam, the Arksansas CPA education requirements must be attained first. You must have a Bachelor’s degree, thirty hours of higher-level accounting, and thirty hours in a business subject other than accounting. Candidates for an Arkansas CPA license must have a four-year degree from a college or university accredited by a Board-recognized accrediting agency and have completed 150 semester hours of college-level coursework. The degree must contain 30 credit hours of the upper-level accounting curriculum and 30 credit hours of business coursework (other than accounting).
2. Apply for the Uniform CPA Exam
Once you have completed at least 150 semester hours of credit, finished the accounting and business-related coursework, and achieved a bachelor’s degree or higher, you are eligible to take the uniform exam. CPA candidates in Arkansas must have the Board’s approval to sit for the American Institute of Certified Public Accountants (AICPA) Uniform CPA Exam, administered by the National Association of State Boards of Accountancy (NASBA).
3. Pay for the Uniform CPA Exam
In Arkansas, taking all four CPA exam sections costs $743 plus $125 – $170 in application costs, depending on how many sections you sign up for. The application price for re-examination is $75 – $120, plus exam fees.
4. Notice to Schedule (NTS)
Allow sufficient time for your application to be processed and approved. When your application is approved, NASBA will send you a Notice to Schedule (NTS) the IQEX by mail or email, at which time you may schedule your test through Prometric.
5. Pass the Uniform CPA Exam
Candidates who have obtained a Notice to Schedule are qualified to schedule and take the Uniform CPA Exam. To qualify for a license, all four portions of the Uniform CPA Exam must be taken and passed with a score of 75 or better within 18 months. Candidates who need to retake any section(s) of the exam to pass must apply to the Board for re-examination.
6. Gain Necessary Experience
To meet the Arkansas CPA experience requirements, CPA license applicants must have at least one year of experience (2,000 clock hours) in accounting, attest, management advisory, financial advice, tax, or consulting performed in three calendar years. This experience must be supervised and validated by a CPA who is currently licensed. Experience gained in government, industry, academia, or public practice meets the criteria.
7. Ethics Requirement
After passing all four portions of the CPA exam, candidates must also meet the Arkansas CPA ethics exam requirements by passing the Professional Ethics: The AICPA’s Comprehensive Course For Licensure. To prepare, you will complete a 1-hour online self-study course. After that, you must complete all portions of the course and take a 30-item test.
8. Apply for a CPA License
If you’ve passed the Uniform CPA Exam, met the Board’s education requirements, and have one year of experience, you’re ready to apply for your Arkansas CPA license. Fill out an application for your Arkansas CPA license. When you are prepared to proceed, you must contact the Arkansas State Board of Public Accountancy’s license section at (501) 682-5532 to request the form. Once the Board has approved your application, you will get your license by mail. This procedure typically takes no more than 30 days.
9. CPA License Renewal
CPA licenses in Arkansas expire on December 31st of each year. To renew a CPA license, applicants must complete 40 hours of continuing professional education (CPE) in the 12 months preceding the renewal or 120 hours in the 36 months preceding the renewal.
10. Continuing Professional Education (CPE)
New licensees must accrue prorated CPE hours based on their first licensure date and are exempt from the ethical requirement for the first full year of license. Every three years, licensees that provide attest services must submit to a peer review. More information is available on the Board’s website.
Estimated Cost: 905 USD