Kentucky CPA Education Requirements 2024

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Kentucky CPA Education Requirements

To meet the Kentucky CPA education requirements and become a CPA, candidates must have a bachelor’s degree or higher completing 150 semester hours and an accounting concentration. These semester hours must include 27 semester hours in accounting courses and 12 semester hours in business courses.

This article will help you to become a CPA in Kentucky and is a requirement for you to take the Kentucky CPA exam.

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Summary of Kentucky CPA Requirements

Credit hours to sit for the CPA exam	150
Bachelor’s required to sit for the CPA exam	Yes
Credit hours in accounting subjects to sit for the CPA exam	27
Credit hours in business subjects to sit for the CPA exam	12
Total credit hours to receive a CPA license	150
Work experience required to receive a CPA license	1 Year
Ethics exam required to get a CPA license	No
Must have Social Security Number	Yes

Kentucky Education Requirements

The Kentucky CPA education requirements are fairly straightforward. Candidates are required to complete 150 semester hours or 225 quarter hours in various course subjects, including:

Accounting Courses (27 semester hours):
- Financial accounting
- Auditing
- Taxation
- Managerial accounting
Business-related courses (12 semester hours):
- Business
- Finance
- Marketing
- Management
- Economics
- Computers
- Statistics

With the standard bachelor’s degree in accounting consisting of just 120 semester hours, continuing on to earn a post-baccalaureate certificate or master’s in accounting is the most recommended way to get the 30 additional credits.

Each candidate must provide the board, upon application for the CPA exam, a final official transcript that clearly indicates the candidate has earned a baccalaureate or master’s degree with a concentration in accounting and the date the degree was awarded.

Accredited Universities or Colleges

The Kentucky Board of Accountancy accepts all accounting degrees and additional business and accounting credits earned through colleges and universities recognized by one of the six regional accreditation agencies that operate in the U.S.:

Middle States Association of Colleges and Schools
North Central Association of Colleges and Schools
New England Association of Schools and Colleges
Northwest Association of Schools, Colleges, and Universities
Southern Association of Colleges and Schools
Western Association of Schools and Colleges

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 Three Core Exam Sections

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.

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

The Three Disciplines

The three new disciplines in the 2024 CPA Exam, part of the CPA Evolution initiative, are designed to allow candidates to specialize in areas that align with their career interests and the demands of the modern business environment. Here’s a more detailed look at each discipline:

Business Analysis and Reporting (BAR)

Objective: This discipline focuses on higher-order skills needed in financial statement analysis, business reporting, and the strategic role of the CPA in business decision-making.

Key Topics:

Financial Statement Analysis: Understanding and interpreting financial statements to assess an entity’s financial health and performance.
Performance Management: Developing and using key performance indicators (KPIs) to measure, manage, and improve business performance.
Data Analytics and Visualization: Utilizing data analytics tools to analyze business data, and effectively presenting data to support business decisions.
Strategic Planning and Risk Management: Involvement in the strategic planning process and identifying, assessing, and managing business risks.
Business Processes and Controls: Understanding and evaluating business processes and internal controls to improve efficiency and effectiveness.

Information Systems and Controls (ISC)

Objective: This discipline is tailored for those interested in information technology, data security, and controls. It addresses the increasing role of technology in accounting and auditing.

Key Topics:

IT Governance and Risk: Understanding the frameworks for managing and governing enterprise IT; identifying and managing IT-related risks.
Information Security and Cybersecurity: Knowledge of cybersecurity principles, data protection laws, and the steps necessary to protect information assets.
System and Organization Controls (SOC) Reporting: Understanding the requirements for SOC reports and the role of CPAs in assessing controls at a service organization.
Data Management and Privacy: Managing data effectively and understanding privacy regulations.
Business Continuity and Disaster Recovery: Planning and strategies to ensure business operations can continue and recover from disruptive events.

Tax Compliance and Planning (TCP)

Objective: This discipline focuses on tax compliance, tax planning, and tax strategy, suitable for those who aim to specialize in taxation.

Key Topics:

Individual Tax Planning and Compliance: Understanding tax laws affecting individual taxpayers, including income, deductions, credits, and tax planning strategies.
Business Tax Planning and Compliance: Knowledge of tax considerations for different business entities, including corporations, partnerships, and S-corporations.
Estate, Gift, and Trust Taxation: Understanding the tax implications and planning strategies for estates, gifts, and trusts.
International Taxation: Knowledge of taxation issues related to cross-border transactions and multinational enterprises.
State and Local Taxation (SALT): Understanding the complexities of state and local tax laws and their impact on business and individual tax planning.

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.

Kentucky CPA Exam Cost Breakdown

The Kentucky CPA exam cost consists of five main fees: an initial application fee of $30, another $30 for per section fee which will total depending on the number of exams taken, the $238.15 fee for each CPA exam section, a $100 fee on the CPA license and the renewal fee of $100.

Initial Application	$30.00
Per Section Fee	$30.00
Auditing and Attestation (AUD)	$238.15
Financial Accounting and Reporting (FAR)	$238.15
Regulation (REG)	$238.15
Disciplines (ISC, TCP, or BAR)	$238.15
Total for all 4 CPA Exam Sections	$952.60
CPA License Application Fee	$100.00
CPA License Renewal Fee	$100.00
Late CPA License Renewal Fee	$200.00

Kentucky CPA Ethics Exam Requirements

While most states require an ethics exam before licensing, Kentucky candidates can become a CPA without it as there are no Kentucky CPA ethics exam requirements. However, part of the Continuing Professional Education (CPE) requirement is to attend 4 hours of board-approved ethics every two years.

Kentucky CPA Experience Requirements

To meet the Kentucky CPA experience requirements, candidates are expected to complete 1 year or 2,000 hours of experience in an accounting or auditing position in public practice, industry or government. Experience must be within 5 years (before or after) of the date the candidate passed their last exam. The hours shall not include any leave or holiday time. The certificate of experience may be submitted for more than one place of employment in order to meet the 1 year or 2,000 hours of the experience requirement.

CPA License Application

To apply for an initial license, send the documents listed below to the board. Documents must be received no later than one week prior to the board meeting date.

Application for License
A check or money order for $100
Certificate of Experience (no copies—mail original or have verifying CPA email directly to cpa@ky.gov from their email address)