Missouri CPA Ethics Exam Requirements [2022]

Missouri CPA Ethics Exam Requirements

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Missouri CPA Ethics Exam Requirements

To meet the Missouri CPA ethics exam requirements and become a CPA, candidates should complete the self-study ethics course and pass the exam administered by the American Institute of Certified Public Accountants (AICPA) named Professional Ethics: The AICPA’s Comprehensive Course (For Licensure). By the end of the course and exam, candidates must pass with a score of 90 percent or higher to qualify.

Summary of Missouri CPA Requirements

Credit Hours to sit for CPA Exams120
Must present themselves with Good Moral Character to sit for CPA ExamsYes
Missouri Residency to sit for CPA ExamsYes
Credit Hours in Accounting courses sit for CPA Exams24
Credit Hours in Business courses to sit for CPA Exams24
Bachelor’s Required for CPA License?Yes
Credit Hours to receive CPA License150
Credit Hours in Accounting courses sit for the CPA license30
Credit Hours in Business courses sit for the CPA license30
Maximum Credit Hours in formal, supervised internships, or independent study in the areas of Accounting or Business in undergraduate and/or graduate-level courses9
Ethics Exam Required?Yes
Work Experience Required1 Year
Required CPE Hours Each Three-year Period120

Residency Qualifications

Missouri CPA exam requirements includes residency requirements unlike other states, which means that you must be a resident of, a regular employee of, or have a place of business in Missouri to be able to take the Uniform CPA exam and become a licensed CPA.

In Missouri, all CPA candidates must meet one of the following residency requirements:

  • The individual has a permanent address in Missouri and actually dwells in Missouri.
  • The individual is a full-time student at a state-accredited institution or university.
  • Individuals who have graduated from a Missouri college or university and had a Missouri address at the time of graduation are considered residents of this state for six months from the date of graduation.
  • The individual is regularly employed full-time in the state of Missouri.
  • The individual is a permanent resident of Missouri who is serving on active duty in the armed forces, or the individual is a permanent resident of Missouri who is the spouse of someone who is serving on active duty in the armed forces.

Employment in Missouri does not have to be in public accounting to meet the requirements of residency in Missouri.

Good Moral Character

Each state has distinct prerequisites for taking the CPA Exam in order to become a CPA. In order to be qualified for the CPA Exam, candidates must complete certain CPA Exam requirements in Missouri, which include candidates presenting themselves as having a decent moral character.

Educational Requirements

Candidates are able to apply for the CPA exam with 120 credit hours. The requirements will depend on the date of your application. See as follows:

For candidates whose applications for the initial examination are or were received prior to June 30, 2021.

The concentration or major in accounting, or the equivalent of a concentration in accounting shall be 60 semester hours of accounting and other related courses.

  • At least 33 semester hours shall be accounting courses with at least 1 course in auditing.
  • At least 18 semester hours of accounting courses taken at the upper-division level.
  • The remaining 27 semester hours shall be in accounting or other areas of business administration such as business law, statistics, economics, finance, marketing, management, information technology and business communications.

For candidates whose applications for initial examination are received on or after June 30, 2021.

– The concentration in accounting shall include a total of at least 48 semester hours, including a minimum of 24 semester hours of accounting and 24 semester hours of business courses. See further details on acceptable courses here (20 CSR 2010-2.041).

In Missouri, candidates for the Missouri CPA Licensure must have a bachelor’s degree or higher from a regionally accredited institution or university, with a specialization or major in accounting and the academic requirement is 150 credit hours of college education. For the remaining 30 hours required for licensure, an applicant must complete:

– A minimum additional 12 semester credit hours in accounting and business, with 6 semester credit hours in accounting and 6 semester credit hours in business in undergraduate and/or graduate-level courses.

– A maximum of 9 semester credit hours may be from formal, supervised internships, or independent study in the areas of accounting or business in undergraduate and/or graduate-level courses.

Although Missouri law does not need a master’s degree to take the exam, it is suggested that candidates pursue the Master of Accountancy in order to achieve the minimum 150 credit hours.

If you are still in college or have already graduated, check to see if the Missouri State Board of Accountancy will accept your college credits. In the case of school accreditation, the Missouri Board of Accountancy defers to the National Association of State Boards of Accountancy (NASBA).

If you graduated from a foreign institution or university, you must have your credits evaluated by one of the organizations listed below. Obtain evaluation forms from the agency and send them to CPA Examination Services, Missouri Coordinator, P.O. Box 198469, Nashville, TN 37219-8469:

  • Educational Credential Evaluators, Inc.
  • Foreign Academic Credentials Service, Inc.
  • Josef Silny & Associates, Inc.
  • NASBA International Evaluation Services

The NASBA Advisory Evaluation is available as an optional service in Missouri. Before you apply for the Exam for the first time, an Advisory Evaluation will detect any academic inadequacies in your education. For additional information about submitting an Advisory Evaluation in this jurisdiction, please visit CPA Central. To begin the Advisory Evaluation process, you must first create a CPA Central user account.

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…

Missouri CPA Exam Cost Breakdown

The Missouri CPA exam cost consists of five main fees: the initial examination application of $180, the CPA exam registration which cost $100, a $226.15 per CPA exam section totaling $905 for all four sections, the initial license to practice fee of $90, and the renewal fee of $80.

Initial Exam Application Fee$180.00
Registration Fee$100.00
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
Initial Individual License to Practice Fee$90.00
Biennial Renewal of Individual License to Practice Fee$80.00
Individual Delinquent Fees Fee ($25.00 per month not to exceed $100.00)$ 25.00 – $100.00

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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