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Wyoming CPA Ethics Exam Requirements 2024

Wyoming CPA Ethics Exam Requirements

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Wyoming CPA Ethics Exam Requirements

To meet the Wyoming CPA ethics exam requirements and become a CPA, a candidate will have to complete and pass the course and exam from the American Institute of Certified Public Accountants (AICPA) titled Professional Ethics: The AICPA’s Comprehensive Course (For Licensure). This is a self-study course and a candidate must pass the ethics exam with at least a 90% score to qualify for a CPA license.

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

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…

Summary of Wyoming CPA Requirements

Credit hours to sit for the CPA exam120
Age requirement for the CPA exam18
Bachelor’s required to sit for the CPA examYes
Credit hours in accounting subjects to sit for the CPA exam24
Credit hours in business subjects to sit for the CPA exam24
Total credit hours to receive a CPA license150
Work experience required to receive a CPA license1 Year
Ethics exam required to get a CPA licenseYes
Wyoming residentYes
Valid Social Security NumberYes

Wyoming Education Requirements

The first main requirement for the CPA exam is the Wyoming CPA education requirements or credentials. In order to sit for all four parts of the CPA Exam in Wyoming, candidates must meet all academic requirements for licensure.

According to the Wyoming Board of Certified Public Accountants, candidates for the Wyoming CPA Exam must have a bachelor’s degree or higher from a regionally accredited institution or university with an accounting concentration or major. Candidates must additionally finish 150 semester hours in accounting courses with a focus.

  • Have completed at least 24 semester hours of accounting courses in one or more of the following areas:
    • Auditing
    • Taxation
    • Cost Accounting
    • Accounting Theory
    • Attestation
    • Forensic Accounting
    • Financial Accountancy
  • Have completed at least 24 semester hours of business courses in one or more of the following areas:
    • Business law
    • Business communications
    • Marketing
    • Management
    • Information systems
    • Finance
    • Statistics
    • Technical writing

Remember: Internships may count for up to six (6) semester hours toward the accounting or business courses matter requirements.

The Wyoming Board of Certified Accountants requires that the candidate earn their degree from an accredited school. If you are residing in Wyoming, the only accredited college where coursework is accepted is the University of Wyoming.

Foreign Education

Candidates that graduated from a foreign institution should have an accepted agency to evaluate and verify their transcripts.

You may contact WBCPA to find accepted institutions and agencies that can verify your transcripts.

Pass the Uniform CPA Exam

Candidates who have obtained a Notice to Schedule are qualified to schedule and take the Uniform CPA Exam.

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 CPAexcel, 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…

Wyoming CPA Exam Cost Breakdown

The Wyoming CPA exam cost consists of three main fees: an initial application fee of $110, the $226.15 per CPA exam section totaling $905 for all four sections, and the Original Certificate Application which is $225.

Examination Application Fee$110.00
Re-examination Fee$50.00
Auditing and Attestation (AUD)$226.15
Financial Accounting and Reporting (FAR)$226.15
Regulation (REG)$226.15
Disciplines (ISC, TCP, or BAR)$226.15
Total for all 4 CPA Exam Sections$905.00
Original Certificate Application$225.00

Wyoming CPA Experience Requirements

To meet the Wyoming CPA experience requirements, candidates require 2,000 hours or 12 months of experience in auditing, attestation, taxation, cost or financial accounting, and consulting. Experience can be gained by full-time or part-time employment in public accounting, industry, government, or academia and must be completed during a 1 – 4 year period with a minimum of 1,800 hours.

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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