If you’re wondering how to become a CPA in Vermont, we’ve organized the Vermont CPA exam requirements below.
1. Meet the Education Requirements to Sit for the CPA Exam
To meet Vermont CPA education requirements to sit for the CPA exam, you need to hold a bachelor’s degree, which includes a minimum of 120 semester hours of general college-level education with 30 semester hours in accounting and business with 6 semester hours of financial and/or managerial accounting (excluding Introductory Accounting), 3 semester hours of auditing, 3 semester hours of U.S. taxation, and 3 semester hours of U.S. business law.
Note: If you are within the 60 days of completing your 120 semester hour bachelor’s degree, you may apply to sit for the CPA exam but you still need to complete the additional 30 semester hours. You’ll also need 150 semester hours and complete a bachelor’s degree that includes 42 semester hours of accounting, auditing, and related subjects for the CPA license.
2. Apply for the CPA Exam
You need to create an account at https://cpacentral.nasba.org/ and submit all the educational transcript(s), Certificate of Enrolment, and/or foreign evaluations to CPA Examination Services. You will then pay the education evaluation application fee of $93.
3. Sign Up for the CPA Exam
Once your transcripts and application have been approved, you can select the CPA exam you want to sign up for and pay the necessary fees using NASBA’s CPA Central website. Once you receive a Notice to Schedule (NTS), you may go to the Prometric website to schedule your exam(s). Each section examination fee is $355.64.
Click here to see a breakdown of the Vermont CPA exam costs.
4. Pass the CPA Exam
The CPA exam consists of the three core sections and candidates would need to select one of the three discipline to demonstrate deeper skills and knowledge, allowing candidates to choose a specialization. There is no set order in which the exam portions must be completed. You must pass each section with a score of 75 or higher within 18 months.
5. Meet the Experience Requirements
To meet the Vermont CPA experience requirements, you need one year of public accounting experience under the supervision of a Vermont-licensed CPA and you need to provide proof of holding a license in good standing as a CPA or equivalent license for the period of supervision.
6. Ethics Exam
The candidate must also meet the Vermont CPA ethics exam requirements by passing the Professional Ethics: The AICPA’s Comprehensive Course For Licensure.
7. Apply for the CPA License
Once you have met all the requirements, you may apply for your CPA license through Vermont’s State Board of Accountancy.
8. Continuing Professional Education (CPE)
Continuing Professional Education must be completed in the two calendar years prior to the year in which the license is to be renewed. You must complete no less than 80 hours of CPE credits that were mandated by the Vermont Board of Accountancy during the two-year period preceding renewal. 10 CPE hours can be carryover in the next period, you must successfully complete at least four hours of CPE credits in Ethics for the subject of accountants and must successfully complete at least eight hours of CPE credits in Accounting and Auditing.
9. Renew your Vermont CPA License Every Two Years
To maintain your Vermont CPA license, you will need to renew your license every two years by completing the required amount of continuing professional education discussed in step 8. You need to submit the Vermont online renewal application, pay the non-refundable renewal fee and submit proof of continuing professional education requirements.