1. Meet the Education Requirements to Sit for the CPA Exam
To meet the Minnesota requirements to sit for the CPA exam, the Minnesota CPA education requirements must be attained first. For Minnesota applicants, candidates must be a resident of the state, attended a school in Minnesota with a course designed to qualify for the CPA exam or work in Minnesota for the purpose of obtaining qualifying experience. Applicants must complete 150 semester hours with 24 semester hours of upper-level accounting courses and 48 hours in business-related subjects and intermediate or higher accounting coursework.
2. Apply for the Uniform CPA Exam
After completion of education requirements, register an account in NASBA for the exam application. Have all your official transcripts sent directly from your college or university to CPA Examination Services (CPAES) at CPA Examination Services – MN, PO Box 198469, Nashville, TN 37219. If your school offers official electronic transcripts, they may be emailed to firstname.lastname@example.org.
3. Pay for the Uniform CPA Exam
Pay all fees at the time of application to NASBA. First-time applicants are required to pay both an application fee and an examination fee. Re-examination candidates are required to pay both a registration fee and an examination fee.
4. Notice to Schedule (NTS)
Wait for your application to be approved and once accepted, NASBA will email or mail you the Notice to Schedule (NTS). Upon receiving the NTS, schedule your exam online through Prometric. You are able to apply for one or more sections of the examination at a time. The NTS is valid for one testing event or six months from its issuance and must be presented for entry at the testing center.
5. Pass the Uniform CPA Exam
There are four sections in the exam: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG). You must pass each section with a score of 75 or higher within 18 months.
6. Ethics Requirement
To meet the Minnesota CPA experience requirements, all candidates must take and pass an ethics exam within two years preceding the initial application for the certificate. Ethics courses may be found at the American Institute of Certified Public Accountants (AICPA) and upon completion, have AICPA send the scores to the board.
7. Gain Necessary Experience
Along with the ethics requirement, candidates must meet the Minnesota CPA experience requirements and should complete an acceptable work requirement which consists of an experience in either full- or part-time employment that extends over a period of no less than one year and no more than three years. Experience should not be fewer than 2,000 hours and applicants should have their experience verified to the board by a licensee or registered accounting practitioner.
8. Apply for a CPA License
9. CPA License Renewal
Minnesota CPAs must have their license renewed annually. Prior to license renewal, all licensees must participate in a program of learning designed to maintain professional competency. The licensee will have to complete Continuing Professional Education (CPE) that is jointly approved by NASBA and AICPA or other standards acceptable to the board.
10. Continuing Professional Education (CPE)
A minimum of 20 hours of Continuing Professional Education (CPE) each rolling three-year period is required for licensees to complete. Applicants are only able to enter their CPEs once a year. The CPE reporting year runs from July 1 to June 30. CPE must be earned by June 30 and reported by December 31 each year. See CPE Limitations for more details.
11. CPA License Renewal Application
Renewals for Minnesota licensees can be done in their website with a $2.00 bank-charged fee. Make sure to have all information and documents ready before the renewal application. The state does not have a required form and licensees will simply submit the documents online. For more information, please visit Minnesota CPE Reporting.
Estimated Cost: 952.60 USD