Oregon CPA Ethics Exam Requirements 2024

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Oregon CPA Ethics Exam Requirements

To meet the Oregon CPA ethics exam requirements and become a CPA, candidates will need to take an ethics exam from the American Institute of Certified Public Accountants (AICPA) after completing the course titled Professional Ethics: The AICPA’s Comprehensive Course (For Licensure). The course and exam are found on AICPA’s website which is self-study and should be passed with a score of 90% or higher.

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Summary of Oregon CPA Requirements

Credit Hours to sit for CPA Exams	150
Credit Hours in Upper-division Accounting specific courses	24
Credit Hours in Accounting or related (lower-division accounting, business, finance, economics, and written/oral communication)	24
Bachelor’s Required to Sit for CPA Exams?	Yes
Ethics Exam	Yes
Work Experience	1 Year
Required CPE Hours Every Two Years	40

Education Requirement for the CPA Exam in Oregon

Credit Requirements for Oregon CPA License

To meet the Oregon CPA education requirements, the Board follows the 150-hour rule, which states that candidates must finish 150 semester hours of college-level study, including a recognized bachelor’s degree, to qualify for a license. The 150 semester hours in Oregon must contain 24 semester hours of upper-level accounting and 24 semester hours of accounting or accounting-related business disciplines.

With a conventional bachelor’s degree in accounting consisting of only 120 semester hours, pursuing a post-baccalaureate certificate or master’s degree in accounting is the most tried and established approach to obtain those 30 more credits. There are also specialized five-year CPA track programs that offer a hybrid bachelor’s and master’s curriculum tailored to provide you with the 150 semester hours required to achieve Oregon CPA education requirements standards.

Accepted Educational Institutions

When selecting a school, make sure it is accredited by one of the six regional accreditation organizations listed below. The Oregon Board of Public Accountancy has accredited six organizations, including:

Southern Association of Colleges and Schools–Commission on Colleges

Required Courses

Meet Oregon’s CPA degree and curriculum requirements. The Oregon Board of Accountancy requires 150 semester college credit hours to be completed at the undergraduate or graduate level or a combination of the two.

Upper-division accounting requires 24 semester hours or 36 quarter hours of study, which includes, but is not limited to:

Auditing
Taxation

Cost Accounting
Financial Statements
Theories of Accounting

24 semester hours or 36 quarter hours of business or accounting courses such as:

Business Law
Business Communications

Economics
Corporate Finance
Business Ethics

You may take classes from online or community colleges as long as the credits transfer to a four-year university and graduate with a bachelor’s degree or higher. However, you will still need to request official transcripts from each college you attend, so keep track of all institutions and how to contact their registrar’s offices. Credit from the community or two-year college courses is acceptable if those credits were successfully transferred to the four-year college where you received your bachelor’s degree.

Foreign Education

Suppose you graduated from a foreign university, or even if you took a few courses from a non-U.S. You will need to have those courses reviewed if you attend an accredited university. Contact the NASBA International Evaluation Services to have your international transcripts examined for them to be accepted for your Oregon licensure application. To schedule an evaluation, contact the agency directly.

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 Three Core Exam Sections

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.

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

The Three Disciplines

The three new disciplines in the 2024 CPA Exam, part of the CPA Evolution initiative, are designed to allow candidates to specialize in areas that align with their career interests and the demands of the modern business environment. Here’s a more detailed look at each discipline:

Business Analysis and Reporting (BAR)

Objective: This discipline focuses on higher-order skills needed in financial statement analysis, business reporting, and the strategic role of the CPA in business decision-making.

Key Topics:

Financial Statement Analysis: Understanding and interpreting financial statements to assess an entity’s financial health and performance.
Performance Management: Developing and using key performance indicators (KPIs) to measure, manage, and improve business performance.

Data Analytics and Visualization: Utilizing data analytics tools to analyze business data, and effectively presenting data to support business decisions.
Strategic Planning and Risk Management: Involvement in the strategic planning process and identifying, assessing, and managing business risks.
Business Processes and Controls: Understanding and evaluating business processes and internal controls to improve efficiency and effectiveness.

Information Systems and Controls (ISC)

Objective: This discipline is tailored for those interested in information technology, data security, and controls. It addresses the increasing role of technology in accounting and auditing.

Key Topics:

IT Governance and Risk: Understanding the frameworks for managing and governing enterprise IT; identifying and managing IT-related risks.
Information Security and Cybersecurity: Knowledge of cybersecurity principles, data protection laws, and the steps necessary to protect information assets.
System and Organization Controls (SOC) Reporting: Understanding the requirements for SOC reports and the role of CPAs in assessing controls at a service organization.

Data Management and Privacy: Managing data effectively and understanding privacy regulations.
Business Continuity and Disaster Recovery: Planning and strategies to ensure business operations can continue and recover from disruptive events.

Tax Compliance and Planning (TCP)

Objective: This discipline focuses on tax compliance, tax planning, and tax strategy, suitable for those who aim to specialize in taxation.

Key Topics:

Individual Tax Planning and Compliance: Understanding tax laws affecting individual taxpayers, including income, deductions, credits, and tax planning strategies.

Business Tax Planning and Compliance: Knowledge of tax considerations for different business entities, including corporations, partnerships, and S-corporations.
Estate, Gift, and Trust Taxation: Understanding the tax implications and planning strategies for estates, gifts, and trusts.
International Taxation: Knowledge of taxation issues related to cross-border transactions and multinational enterprises.

State and Local Taxation (SALT): Understanding the complexities of state and local tax laws and their impact on business and individual tax planning.

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.

Oregon CPA Exam Cost Breakdown

The Oregon CPA exam cost consists of five main fees: the education evaluation application fee of $90, $344.80 per CPA exam section totaling $1,379.20 for all four sections, the CPA license application fee of $225, the initial CPA permit fee of $255, and the renewal fee of $255.

Education Evaluation Application Fee	$90.00
Auditing and Attestation (AUD)	$344.80
Financial Accounting and Reporting (FAR)	$344.80
Regulation (REG)	$344.80
Disciplines (ISC, TCP, or BAR)	$344.80
Total for all 4 CPA Exam Sections	$1,379.20
Initial CPA Application Fee	$225.00
Initial CPA Permit Fee	$255.00
Renewal Fee	$255.00

Oregon CPA Experience Requirements

To meet the Oregon CPA experience requirements, a minimum of 12 months full-time employment or a total of 2,000 hours of equivalent part-time experience is required to be obtained over a period of 12 or more months. All experience must be directly supervised by a qualified supervisor licensee who holds an active CPA license issued by any state or a PA license (excluding experience in attest services) during the period of supervision and for at least five of the past seven years immediately prior to such supervision.

Apply for Your Oregon CPA License

Submit Your Application for Issuance

Candidates who have passed the CPA exam, have satisfied the education and accounting experience criteria, and have proven the essential abilities are ready to submit the CPA Initial License Application and the Oregon Board of Accountancy Employment form. Use the Social Security Number form and a written narrative outlining each competency that the supervising accountant has validated.

Receiving Your Oregon CPA Certificate

The Board typically takes two to three weeks to process the request after receiving the appropriate documentation. Once authorized, the Board will notify you through email and give you an invoice for the initial license fee. After paying the money and registering with the Board, the applicant’s name will show in the Board’s licensee search, and they will be able to practice. The Board will send new licensees a wall certificate, a wallet license card, a letter of congratulations, their CPA license number, CPE information, and license renewal due dates.