1. Satisfy the Eligibility and Educational Requirement for the CPA Exam
To meet the Mississippi requirements to sit for the CPA exam, the Mississippi CPA education requirements must be attained first. For Mississippi applicants, the candidate must be a Mississippi resident or have a business location in the state. As part of the license process, applicants must demonstrate a good moral character.
A CPA applicant must complete at least 150 semester hours of college education and hold a baccalaureate degree from a board-approved accredited college school. Accounting disciplines such as Financial Accounting, Auditing, Taxation, Management/Cost Accounting, Government/Not-for-Profit Accounting, and Government/Not-for-Profit Accounting must be completed in a minimum of 24 hours of 48 semester hours.
2. Uniform CPA Exam Application
Applicants must complete an Application for the CPA Examination with the Mississippi State Board of Public Accountancy. With their application packet, they must include a passport-sized photo, a driver’s license, and proof of residency.
3. Submit Official Transcripts
Once you have completed the academic requirements, you can submit your official transcripts from each institution to the board. You must create an account on the board’s website to acquire complete information; nevertheless, you should receive a Notice to Schedule after your transcripts have been accepted and processed (NTS). After getting the NTS, you will have six months to arrange and take one of the four CPA test components.
4. Pay the CPA Exam Fees
You must pay a $150.00 application fee as well as the examination fees of $238.15 for each exam section when you apply. Your notice to schedule (NIS) will expire if you do not take the exam within 6 months, and you will have to re-register.
5. Pass the Ethics Exam
The candidate must also meet the Mississippi CPA ethics exam requirements by passing the Professional Ethics: The AICPA’s Comprehensive Course For Licensure.
6. Acquire the Necessary Experience
To meet the Mississippi CPA experience requirements, a year of work experience is required. You must pass all four portions of the exam to receive your full license. Within three years of passing the CPA exam, the candidate must have gained at least one year of relevant experience working full-time in Accounting and auditing, Management Advisory, Financial Advisory, Preparation of Tax Returns or Tax Advice or Taxation under the supervision and direction of a CPA licensee.
An applicant must have provided one or more types of services under the supervision of a CPA licensee, including but not limited to the publication of financial statement reports, management consulting, financial consulting, consulting services, and the preparation of tax returns or the provision of tax advice, or the equivalent.
7. CPA License Requirements
The Mississippi State Board of Public Accountancy has requirements for CPA license candidates, including residency, good moral character, passing the Uniform CPA Examination, and having necessary experience.
8. License Reciprocity
This is required when a CPA from another state performs public accounting for a Mississippi customer or holds himself out as a CPA in Mississippi and some requirements are not met, such as the primary place of business is not in the state and the CPA does not have a valid CPA license in the state where the CPA is practicing.
9. Continuing Professional Education Requirements
Each permit holder is required to complete at least 40 hours of relevant continuing professional education (CPE) credits during each yearly reporting period. Only 20 of the 40 CPE credit hours available from the previous year are transferable. The yearly reporting period ends on June 30 of every odd-numbered year. At least four CPE credit hours in board-approved ethics, professional conduct, public accounting law, and regulations courses must be earned every three years.
A new CPA licensee is exempt from CPE only during the compliance period in which he or she passes the examination, and is exempt from the ethics, professional conduct, public accountancy law, and regulations CPE requirements for the duration of the triennial term.
Estimated Cost: 952.60 USD