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Mississippi CPA Exam Requirements
Earning a CPA certification entails a lengthy and multi-step process in order to become a Certified Public Accountant. Before proceeding with the CPA licensing requirements, you must first complete the CPA exam requirements in order to be able to take the CPA exam and apply for a license after passing the CPA exam.
Passing the CPA Exam and completing licensure criteria in the state where you intend to practice are the two most significant parts of becoming a CPA. Mississippi has its own set of requirements for CPA candidates. If you wish to take the CPA test and become a licensed CPA in the state of Mississippi, consider the following requirements and determine if you meet all of the requirements.
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Summary of Mississippi CPA Requirements
|Credit Hours to sit for CPA Exams
|Good Moral Character Background Check
|Residency or have an office for the regular transaction of business in Mississippi
|Credit Hours in Upper-level Accounting courses to sit for CPA Exams
|Credit Hours in Upper-level Business-related courses to sit for CPA Exams
|Bachelor’s Required to Sit for CPA Exams?
|Ethics Exam Required?
|Work Experience Required
|Required CPE Hours Each Annual Period
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
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
- Management/Cost Accounting
- Government/Not-for-Profit Accounting
Consider the following before deciding on your business courses:
- Business Law
- 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 Masters 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.
CPA Exam Components
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. The components of the CPA test are as follows:
- Auditing and Attestation. This exam section covers the basics of financial and attest services, such as audits, reviews, compilations, and preparing agreements.
- Financial Accounting and Reporting. This exam section covers financial accounting topics for all business entities, including the government and nonprofits.
- Regulation. This exam section covers federal taxation, tax services, professional ethics, and business law for individuals and business entities.
- Business Analysis and Reporting (BAR): Focused on financial reporting, data analytics, and performance management. This area is suitable for those who are interested in financial analysis and reporting. An extension of FAR core.
- Information Systems and Controls (ISC): Concentrates on IT governance, data security, and system controls. Ideal for individuals who wish to specialize in IT audits and information security. An extension of AUD core.
- Tax Compliance and Planning (TCP): Centers on personal financial planning and tax compliance for individuals, businesses, and other entities. Suitable for those with a strong interest in taxation and financial planning. An extension of REG core.
You may take the required test sections in any order, but you must pass all four sections of the Uniform CPA Examination within an 18-month period beginning on the date the first examination section completed was taken. All components must be passed within the 18-month term. Any exam taken outside of the 18-month timeframe will result in a loss of credit.
CPA Exam Application Fees
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 $254.80 per CPA exam section totaling $1.019.20 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
|Auditing and Attestation (AUD)
|Financial Accounting and Reporting (FAR)
|Disciplines (ISC, TCP, or BAR)
|Total for all 4 CPA Exam Sections
|4 Examination Sections
|3 Examination Sections
|2 Examination Sections
|1 Examination Section
|Initial CPA License Registration Fee
|Board Processing Fee
|CPA License Annual Renewal Fee
|CPA License Late Renewal Fee
|Initial CPA Registration Fee
|Board Processing Fee
|CPA License Annual Registration Fee
|Late Renewal Fee
Don’t try to get ahead of yourself by registering for all four sections at the same time. If you do not take the exam within 6 months, your notice to sit (NIT) will expire and you will have to re-register. The disadvantage is that you will have to pay again in order to register. Re-registration application fees are $100 and vary depending on how many tests you apply for, so only sign up for exams that you are prepared to take within the next six months.
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.
AICPA Ethics Exam
To meet the Mississippi CPA ethics exam requirements, 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.
Experience Requirements in Mississippi
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. This must be done after passing all four portions of the exam in order to obtain your full license.
The candidate must have at least one year of meaningful experience achieved via full-time employment under the supervision and direction of a CPA licensee within three years of the date of successful completion of the CPA test. Your experience must indicate significant skill in one or more of the following areas:
- Accounting and auditing
- Management Advisory
- Financial Advisory
- Preparation of Tax Returns or Tax Advice or Taxation
An applicant must demonstrate that he or she offered one or more types of services that required the use of accounting or auditing skills, such as, but not limited to:
- The publication of financial statement reports, or
- One or more types of management consulting, financial consulting, consulting services, or
- The preparation of tax returns or the provision of tax advice, or the equivalent, all under the supervision 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
When a CPA from another state performs public accounting for a Mississippi customer or holds out as a CPA in Mississippi and all of the following exemptions are not met:
- The primary location of business is not in Mississippi, and
- Possess a valid CPA license from a state that is substantially equivalent, and
- Mississippi’s mobility (practice privilege) conditions must be met. Section 73-33-17 of the Revised Code.
CPA License Fees for Practice of Public Accountancy
Annual CPA License Registrations Fees
- CPA License Annual Registration Fee – $110.00
- Late fee if paid after January 1st – $150.00
Original Mississippi CPA License Application Fees
- Initial CPA License Registration Fee – $110.00
- Board Processing Fee – $100.00
Application for Reciprocal CPA License in Mississippi
- Reciprocal CPA License Registration Fee – $110.00
- Board Processing Fee – $100.00
Application for Reinstatement of CPA License
- Reinstatement of CPA License Registration Fee – $110.00
- Reinstatement of CPA License Processing Fee – $200.00
- Reinstatement of Fees in arrears (max 3 year – $110.00 per year)
- Late Fee (apply to Failed to Register) – $150.00
Continuing Professional Education (CPE) Requirements in Mississippi
After a long wait, you are now a licensed CPA or Certified Public Accountant in the state of Mississippi. But wait, there’s more. In Mississippi, you must retain your active status as a CPA by enrolling in CPE, or Continuing Professional Education.
During each yearly reporting period, each permit holder must have completed at least 40 hours of appropriate continuing professional education (CPE) credits. Only 20 of the 40 CPE credit hours available may be carried over from the previous year. Each odd-numbered year’s annual reporting period concludes on June 30. Every three years, a minimum of four CPE credit hours must be earned in board-approved ethics, professional conduct, public accounting law, and regulations courses.
A new CPA licensee is exempt from CPE only during the compliance period in which he or she passes the examination, and is exempt from the ethics, professional conduct, public accountancy law, and regulations CPE requirements for the duration of the triennial term.
Mississippi CPA Exam F.A.Q.s
Here are some commonly asked questions regarding Mississippi’s CPA exam and CPA licensure requirements.
What Are the Requirements to Sit for the CPA Exam in Mississippi?
To sit for the CPA exam in Mississippi, you must have a bachelor’s degree or higher with a concentration in accounting. 24 semester hours in accounting and at least three hours each in financial accounting, auditing, taxation, management or cost accounting, and government/not-for-profit accounting. 24 semester hours in business-related courses.
How Long Does it Take to Become a CPA in Mississippi?
You will need to attain the full 150 semester hours required nationwide. This is roughly five years of education, then one year to take and pass the CPA exam, and then one year to meet the experience requirement. That makes a total of 6-7 years to get your CPA license. Once you have met all the requirements and have submitted your application to receive your CPA license from the Mississippi State Board of Public Accountancy, if approved you will receive your license in the mail within 3-4 weeks.
How Much Does It Cost to Take the CPA Exam in Mississippi?
The total cost of the CPA exam for an aspiring CPA in Mississippi is $1,169.20, plus the registration fees and this is considering that you pass all exams on the first try. The breakdown of the cost is $150 for the application fee and $1,019.20 exam fee for all four sections of the exam ($254.80 per section).
How Many CPAs are in Mississippi?
According to the U.S. Bureau of Labor Statistics (BLS) as per the May 2021 data, there are currently around 6,140 accountants in Mississippi with an annual salary of $66,110.
Do CPA Scores Expire in Mississippi?
Regardless of the state, once a CPA candidate passes their first CPA exam section, they then have 18 months to pass the remaining three CPA exam sections to complete the Uniform CPA Examination. Once a CPA candidate has passed the Uniform CPA Examination, their scores never expire in Mississippi.
How Many Accounting Credits Do You Need to Sit for the CPA License in Mississippi?
You must complete at least 24 semester hours in accounting and at least three hours each in financial accounting, auditing, taxation, management or cost accounting, and government/not-for-profit accounting. 24 semester hours in business-related courses.
Does Mississippi Require an Ethics Exam for the CPA?
No, Mississippi does not require you to take the AICPA ethics exam to get your initial CPA license. However, to keep your license active, you will need to complete 4 credit hours of board-approved ethics, professional conduct, public accountancy law and regulations courses triennially. A minimum of one of these Ethics CPE credit hours must be in the subject of Mississippi Public Accountancy Law and Regulations.
How Do I Get My CPA License in Mississippi?
Before you can apply for your license, you must make sure that you meet all the requirements. In Mississippi, applicant CPAs are required to be a resident or have a place of regular transaction of business. Must have at minimum, one year of meaningful experience gained by full-time employment within three years from the date of successful completion of the CPA examination, under the supervision and direction of a CPA licensee providing service through accounting and auditing, management advisory, financial advisory, and preparation of tax returns or tax advice. Applicants will also be required to complete an online background check for good moral character through the application. Of course, you must also pass the Uniform CPA Examination.
If you meet all the requirements. You can apply for your CPA license here.