Kentucky CPA Ethics Exam Requirements [2022]

Kentucky CPA Ethics Exam Requirements

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Kentucky CPA Ethics Exam Requirements

To meet the Kentucky CPA ethics exam requirements and become a CPA, candidates will need to complete and pass the self-study ethics course and obtain a passing grade of no less than 90% on the examination administered and graded by the American Institute of Certified Public Accountants (AICPA). The course name is Professional Ethics: The American Institute of Certified Public Accountants’ Comprehensive Course (For Licensure) and is found on AICPA’s website.

Summary of Kentucky CPA Requirements

Credit hours to sit for the CPA exam150
Bachelor’s required to sit for the CPA examYes
Credit hours in accounting subjects to sit for the CPA exam27
Credit hours in business subjects to sit for the CPA exam12
Total credit hours to receive a CPA license150
Work experience required to receive a CPA license1 Year
Ethics exam required to get a CPA licenseNo
Must have Social Security NumberYes

Kentucky Education Requirements

Kentucky CPA exam requirements for education 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 Four CPA Exam Sections are:

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.

Business Environment and Concepts (BEC)

The Business Environment and Concepts (BEC) section of the Uniform CPA Examination (the Exam) tests knowledge and skills that a newly licensed CPA must demonstrate when performing:

  • Audit, attest, accounting and review services
  • Financial reporting
  • Tax preparation
  • Other professional services

The content areas tested under the BEC section of the Exam encompass five diverse subject areas. These content areas are enterprise risk management, internal controls and business processes, economics, financial management, information technology and operations management.

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

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.

How to Save Yourself MONTHS of Time and Frustration
Keep in mind that the CPA exam is the one part of getting your CPA license that you can control how long it takes. The education and experience requirements take as long as they take, but the CPA exams can take you as little as 6 months, or as long as multiple years… depending on how effective your study process is from the beginning.
Learn how to study strategically so you can save yourself tons of time and retake fees with this free training…

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 $208.40 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)$208.40
Business Environment and Concepts (BEC)$208.40
Financial Accounting and Reporting (FAR)$208.40
Regulation (REG)$208.40
Total for all 4 CPA Exam Sections$834.00
CPA License Application Fee$100.00
CPA License Renewal Fee$100.00
Late CPA License Renewal Fee$200.00

How to Save Yourself MONTHS of Time and Frustration
Keep in mind that the CPA exam is the one part of getting your CPA license that you can control how long it takes. The education and experience requirements take as long as they take, but the CPA exams can take you as little as 6 months, or as long as multiple years… depending on how effective your study process is from the beginning.
Learn how to study strategically so you can save yourself tons of time and retake fees with this free training…

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