Guide to Becoming a CPA in North Carolina
North Carolina's business-friendly tax climate makes it an ideal state for aspiring Certified Public Accountants (CPAs). The North Carolina State Board of CPA Examiners oversees the licensure of CPAs in the state. Here's what you need to know to become a CPA in North Carolina.
Educational Requirements
To sit for the CPA Exam in North Carolina, candidates must meet these educational criteria:
Bachelor’s Degree: A degree from a regionally accredited college or university is required.
Concentration in Accounting: This includes either 30 semester hours of undergraduate accountancy courses (with restrictions on accounting principles and business law hours) or 20 semester hours of graduate-level accounting courses.
150 Semester Hours for Licensure: To apply for a CPA license, candidates need 150 semester hours, including a bachelor’s degree. This must comprise a minimum of 24 hours covering various fields such as ethics, finance, law, management, and statistics.
Work Experience Requirements
Candidates must have either:
One Year of Experience: In public accountancy under the direct supervision of a licensed CPA.
Four Years of Experience: In accounting, teaching accounting, or a combination of experiences deemed equivalent by the Board.
Ethics Exam
North Carolina requires an 8-hour ethics course and passing an exam on the North Carolina Rules of Professional Ethics and Conduct.
Citizenship and Residency Requirements
Age: Minimum 18 years old.
Citizenship: U.S. citizenship is required.
Residency: No need to be a resident of North Carolina.
Social Security Number Requirement
A Social Security number is necessary for the CPA licensure process in North Carolina.
CPA Exam and Licensing Fees
The fees associated with the CPA examination and licensing in North Carolina are as follows:
Initial Application Fee: $230.00
Examination Fees (per section):
AUD: $238.15
BEC: $238.15
FAR: $238.15
REG: $238.15
Total for all sections: $1,182.60
License Application Fee: Approximately $100
License Renewal
CPA licenses in North Carolina must be renewed annually before July 1st. The renewal fee is $60. Failure to renew results in license revocation.
Continuing Professional Education (CPE) Requirements
Active CPAs in North Carolina must complete 40 hours of CPE annually, including at least 50 minutes in professional ethics and conduct courses. Inactive licensees are exempt from CPE requirements.
Conclusion
Becoming a CPA in North Carolina involves meeting educational prerequisites, passing the CPA Exam, completing the required work experience, adhering to ethical standards, and maintaining your knowledge through continuing professional education. With its favorable business environment, North Carolina offers promising career prospects for CPAs.