To meet the Vermont CPA experience requirements and become a CPA, the state board requires one year of public accounting experience with 2,080 hours. The board needs to see 500 hours of attest and 200 hours of auditing work. The candidate’s work experience must be under the supervision of a Vermont-licensed CPA to provide evidence of the experience upon licensing application.
This article will help you to become a CPA in Vermont and is a requirement for you to take the Vermont CPA exam.
Table of Contents
Summary of Vermont CPA Requirements
| Be of Good Moral Character | Yes |
| Credit Hours to sit for the CPA Exam | 120 |
| Credit Hours in Accounting and Business to sit for the CPA Exam (*including below) | 30 |
| *Credit Hours in Financial and/or Managerial Accounting (excluding Introductory Accounting) to sit for the CPA Exam | 6 |
| *Credit Hours in Auditing to sit for the CPA Exam | 3 |
| *Credit Hours in U.S. Taxation to sit for the CPA Exam | 3 |
| *Credit Hours in U.S. Business Law to sit for the CPA Exam | 3 |
| Bachelor’s Required to sit for the CPA Exam | Yes |
| Credit Hours to receive a CPA License | 150 |
| Credit Hours in Accounting and Business to receive a CPA License | 42 |
| Ethics Exam | Yes |
| Work Experience | 1 Year |
| Required CPE Hours Every Two Years | 80 |
General Qualifications for CPA Exam in Vermont
Like in any other state, you need to meet the education requirements, pass the Uniform CPA exam, take the Ethics exam and obtain the required experience.
The Vermont Board of Public Accountancy accepts non-U.S citizens. However, the candidate is required to have a Social Security Number.
Certificate of Enrollments, educational transcripts, and foreign evaluations are required to be submitted to CPA Examination Services.
Educational Requirements
To meet the Vermont CPA education requirements, applicants will need to fulfill the 150 semester credits and complete a bachelor’s degree that includes 42 semester hours of accounting, auditing, and related subjects.
As a first-time applicant or re-examination applicant for the CPA exam, you must have the following:
- good moral character
- earned a minimum of 120 semester hours of general college-level education with 30 semester hours in accounting and business courses, including:
- six semester hours of financial accounting or managerial accounting (Introductory Accounting is excluded)
- three semester hours in auditing
- three semester hours in U. S. income tax
- three semester hours in U. S. business law
As for your coursework to apply for a license, it should meet the qualifications the Vermont board has advised. You need to complete 42 semester hours of accounting and business courses. Your coursework should adhere to the following:
- six semester hours of financial accounting or managerial accounting (not elementary accounting)
- three semester hours in auditing
- three semester hours in U. S. income tax
- three semester hours in U. S. business law
Commercial CPA review courses are not acceptable.
Courses from any institution may count, provided they are transferred to a regionally accredited institution.
Suppose you went to university or institutions outside the U. S. In that case, your credits must be assessed by a member of the organization by the National Association of Credential Evaluation Services (NACES) or by NASBA International Evaluation Services.
Any additional required information or documents must be sent to:
CPA Examination Services – VT
PO Box 198469
Nashville, TN 37219
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…
Vermont CPA Exam Cost Breakdown
The Vermont CPA exam cost consists of five main fees: the initial exam application fee of $170, the registration fee of $85, $238.15 per CPA exam section totaling $952.60 for all four sections, the CPA registration fee of $100, and the renewal fee of $220.
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.
| Examination Application | $170.00 |
| Registration | $85.00 |
| Examination Fees | |
| Auditing and Attestation (AUD) | $238.15 |
| Business Environment and Concepts (BEC) | $238.15 |
| Financial Accounting and Reporting (FAR) | $238.15 |
| Regulation (REG) | $238.15 |
| Total for all 4 CPA Exam Sections | $952.60 |
| Initial CPA Registration Fee | $100.00 |
| Renewal Fee | $220.00 |
Vermont CPA Ethics Exam Requirements
To meet the Vermont CPA ethics exam requirements, a candidate must complete the course and exam from the American Institute of Certified Public Accountants (AICPA) titled Professional Ethics: The AICPA’s Comprehensive Course (For Licensure). The exam is an open book examination and the passing score is 90%.
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…
