Minnesota CPA Experience Requirements [2022]

Minnesota CPA Experience Requirements

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To meet the Minnesota CPA experience requirements and become a CPA, candidates will have to have one year of experience that consists of full or part-time employment that extends over a period of no less than one year and no more than three years that includes no fewer than 2,000 hours of performance of services or advice using accounting, attest, compilation, management advisory, financial advisory, tax, or consulting skills. An acceptable experience includes employment in industry, government, academia or public practice and must be verified by an Active status CPA with a valid certificate or an unexpired Inactive CPA.

Summary of Minnesota CPA Requirements

Credit Hours to sit for CPA Exams120
Residency, Schooling or Working in Minnesota Required to sir for CPA Exams?Yes
Credit Hours in Accounting courses to sit for CPA Exams24
Credit Hours in Business-related courses for the CPA license24
Bachelor’s Required to Sit for CPA Exams?Yes
Credit Hours for CPA License150
Ethics Exam Required?Yes
Work Experience Required1 – 3 Years
Required CPE Hours Every Three Years120

Education Requirements

Before applicants can sit for the CPA exam, the first important process is for applicants to meet the educational requirements.

The board only accommodates those that have a baccalaureate or higher degree, with a major in accounting or a major in business with accounting emphasis or equivalent education, from a college or university that is fully accredited by a recognized accrediting agency listed with the United States Department of Education or an equivalent accrediting association.

Applicants must also have accomplished 150 semester (225 quarter) hours that includes a total of 48 hours in business-related subjects and intermediate or higher accounting coursework (counting the 24 originally earned to sit for the exam).

Applicants are considered to have met any of these requirements if they:

a.) Earned a graduate degree with a concentration in accounting from an accounting program or department within an Association to Advance Collegiate Schools of Business (AACSB) or Accreditation Council for Business Schools and Programs (ACBSP) accredited business school.

b.) Earned a graduate degree from a business school or college of business that is accredited by the AACSB or ACBSP. Completing at least 24 semester hours in accounting at the undergraduate level or 15 semester hours at the graduate level, or an equivalent combination following the required courses:

  • Financial Accounting
  • Auditing
  • Taxation
  • Management Accounting

c.) Earned a baccalaureate degree from a business school or college of business that is accredited by the AACSB or ACBSP. Completing at least 24 semester hours in accounting at the undergraduate or graduate level, including the following required courses

  • Financial Accounting
  • Auditing
  • Taxation
  • Management Accounting

And completed an additional 24 semester hours in business-related or accounting courses at the undergraduate or graduate level.

d.) Earned a baccalaureate or higher degree from an educational institution accredited by one or more of the national or regional accrediting agencies that include or are supplemented by at least 24 semester hours of accounting at the intermediate or advanced level, including courses dedicated to each of the following subjects:

  • Financial Accounting
  • Auditing
  • Taxation
  • Management Accounting

Note that intermediate or advanced level coursework includes courses taken beyond the introductory level.

International Education Evaluation Requirements

Applicants who earned their education outside the U.S. will need to have their education evaluated prior to sitting for the exam. The Minnesota Board requires the evaluation be done by either one of these two authorized services:

Early Examination Admission Option

For applicants who wish to submit their early admissions to NASBA before they graduate, the student must meet the Minnesota board requirements which can be read in MN Statute 326A.03, Subd. 3a and MN Rules 1105.1650.

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…

Professional Ethics Exam

All candidates must also take and pass an ethics exam within two years preceding initial application for the certificate. The exam the Minnesota Board currently accepts is the AICPA Professional Ethics Comprehensive Course “For Licensure.” AICPA offers more than one Ethics Course/Exam. Be sure to select the one that says it is “For Licensure.”

Once a candidate has successfully completed the Professional Ethics Exam, they should call AICPA to ask that they send the scores to the Minnesota Board.

CPA Exam Fees

NASBA administers the exam for the State of Minnesota. All first-time applicants are required to pay both an application fee and an examination fee upon submission of the first-time application. All re-examination candidates are required to pay both a registration fee and an examination fee at the time of registration.

Candidates can take one or more sections of the exam at a time however, they are advised to only apply for a section of the examination if they are ready to take it within the next six months. They must pay the following fees to CPA Examination Services at the time of application:

Application Fee$170.00
Registration Fee$85.00
Examination Fees
Auditing and Attestation (AUD)$226.15
Business Environment and Concepts (BEC)$226.15
Financial Accounting and Reporting (FAR)$226.15
Regulation (REG)$226.15
Total Exam Fees$904.60

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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