Mississippi CPA Ethics Exam Requirements [2022]

Mississippi CPA Ethics Exam Requirements

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Mississippi CPA Ethics Exam Requirements

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

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

Summary of Mississippi CPA Requirements

Credit Hours to sit for CPA Exams150
Good Moral Character Background CheckYes
Residency or have an office for the regular transaction of business in MississippiYes
Credit Hours in Upper-level Accounting courses to sit for CPA Exams24
Credit Hours in Upper-level Business-related courses to sit for CPA Exams24
Bachelor’s Required to Sit for CPA Exams?Yes
Ethics Exam Required?Yes
Work Experience Required1 Year
Required CPE Hours Each Annual Period40

General CPA Exam Requirements in Mississippi

Candidates must first fulfill their Mississippi CPA exam requirements and credentials before they may sit for the exam. Each state has its own set of CPA licensure eligibility standards, which should not be confused with CPA exam eligibility requirements. The regulations for the state of Mississippi will be discussed in detail below.

Age and Residency Requirements in Mississippi

Candidates who seek to take the CPA in Mississippi do not need to be US citizens. While candidates do not need to be citizens of the United States, they must be Mississippi residents. The state of Mississippi does not have a minimum age limit for taking the CPA, so if you meet all of the other requirements, you can take the CPA at whatever age you like.

Additional residency requirements may include:

  • Registration as a voter takes place in a particular location.
  • Tags and vehicle registration
  • Mississippi residents’ income tax forms must be filed.
  • Qualifying for a homestead exemption in Mississippi and paying Mississippi real estate taxes
  • Successful completion of the Mississippi CPA Examination and graduation from a Mississippi university or college
  • Obtain a Social Security Number (SSN) for CPA licensure

Background Check

As of November 2015, the board has decided that applicants must verify that they are of good moral character. As a result, you will be subjected to an online background check. This applies to CPA applicant seeking initial licenses, license reinstatement, and reciprocal licenses.

If you are aware that your record may contain a black mark, be prepared to show cause why the Board should dismiss the problem. If the matter was of a criminal character, attempt to have any documentation accessible to indicate that you have satisfied the court.

Mississippi Minimum Educational Requirements

To meet the Mississippi CPA education requirements, a first-time examination applicant must have completed at least 150 semester hours of college education, which must include a baccalaureate degree conferred by a regionally accredited four-year college or university or the equivalent acceptable to the Board, with an accounting concentration determined by Board rule to be appropriate.

Accounting and business-related courses must total at least 48 semester hours at the upper-division or graduate level. Accounting courses must account for at least 24 of the 48 hours and contain at least three semester hours in:

  • Financial Accounting
  • Auditing
  • Taxation
  • Management/Cost Accounting
  • Government/Not-for-Profit Accounting

Consider the following before deciding on your business courses:

  • Business Law
  • Management
  • Marketing
  • Business Communications
  • Business Ethics
  • Information Systems

It is important to note that the board demands that your education be completed at a regionally accredited university and that your accounting concentration or major be deemed adequate to the board’s criteria. If you are a student at a Mississippi college or university, your advisor should be able to reassure you that your work is legitimate.

As you’ll need a total of 150 hours before sitting for the Mississippi CPA exam, consider pursuing a graduate degree once you have completed the prerequisites of your undergraduate program. Look for a Master’s of Accounting degree or a business program that allows you to take a lot of accounting courses.

Uniform CPA Examination Application Process in Mississippi

You can submit your official transcripts from each institution you attended to the board once you have fulfilled the academic requirements.

If you completed your educational requirements at a recognized institution outside of the United States:

  • The only acceptable foreign transcript evaluation service is NASBA International Evaluation Services (NIES). There are no exceptions to this rule.
  • For the purposes of taking the CPA Exam in Mississippi, you must seek a course-by-course review. Any other assessment will be refused.
  • NIES must evaluate education from schools outside the United States that have regional accreditation from the United States.

To obtain complete information, you will need to register an account on the board’s website; however, after your transcripts have been accepted and processed, you should receive a Notice to Schedule (NTS). You will have six months after receiving the NTS to schedule and sit for one of the four components of the CPA test.

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…

Mississippi CPA Exam Cost Breakdown

The Mississippi CPA exam cost consists of six main fees: an initial exam application fee of $150, a registration fee which depends on the number of exams taken and the $226.15 per CPA exam section totaling $905 for all four sections. As for licensing, an initial CPA registration will cost $110, a board processing fee of $100, and the CPA license annual renewal fee that is $110.

Initial Exam Application$150.00
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 for all 4 CPA Exam Sections$905.00
Registration Fees
4 Examination Sections$135.00
3 Examination Sections$115.00
2 Examination Sections$95.00
1 Examination Section$75.00
Licensing Fees
Init​​ial CPA License Registration Fee$110.00
Board Processing Fee$100.00
CPA License Annual Renewal Fee$110.00
CPA License Late Renewal Fee$150.00

Mississippi CPA Experience Requirements Summary

To meet the Mississippi CPA experience requirements, the qualifying work experience should include a minimum of one year of experience gained by full-time employment under the supervision and direction of a CPA.

An applicant must show that he or she provided one or more kinds of services involving the use of accounting or auditing skills, including but not limited to the following:

  • The issuance of reports on financial statements, or
  • One or more kinds of management advisory, financial advisory, or consulting services, or
  • The preparation of tax returns or the furnishing of advice on tax matters, or the equivalent, all of which are under the direction of a CPA licensee.

Mississippi CPA License Requirements

Each firm and office thereof founded or maintained in this State for the profession of public accounting should register with the Board within 30 days of its opening and annually thereafter, on a form prescribed by the Board.

Each office must be directly supervised by a resident manager who must be registered with this Board and have a valid annual permit.

As for the CPA license requirements in Mississippi, the Mississippi State Board of Public Accountancy requires applicants which includes:

  • Residency – The applicant must be a resident of Mississippi or have a place of regular business in this state.
  • Good Moral Character – Beginning November 1, 2015, applicants for Initial Applications and Reinstatement Applications for Original MS CPA Licenses and Reciprocal CPA Licenses (but not for CPA Exam applications, firm permit applications/renewals, or annual CPA license renewals) will be required to complete an online background check.
  • Passing the CPA Exam – The applicant must apply for licensing within three years of passing the CPA examination.
  • Experience – The candidate must have at least one year of significant experience earned through full-time employment within three years of passing the CPA examination, under the supervision and direction of a CPA licensee, such as:
    • Accounting and Auditing
    • Management Advisory
    • Financial Advisory
    • Preparation of Tax Returns or Tax Advice

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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