Guide to Becoming a CPA in Rhode Island
Rhode Island, with its strong business environment and high demand for CPAs, provides an excellent opportunity for accounting professionals. The state's CPA requirements, set by the Rhode Island Board of Accountancy, ensure that CPAs meet high educational, professional, and ethical standards. Here's what you need to know about becoming a CPA in Rhode Island.
Educational Requirements
Candidates must meet one of the following educational criteria to sit for the CPA Exam in Rhode Island:
Graduate Degree in Accounting: From a board-recognized accredited agency.
Graduate Degree in Business: With specific accounting coursework from a board-recognized agency.
Baccalaureate Degree: With specific accounting and business coursework from an accredited institution.
To apply for licensure, candidates must have completed 150 semester hours.
Work Experience Requirements
Candidates must complete at least one year (1,820 hours) of work experience under the supervision of a licensed CPA.
Ethics Exam
Rhode Island requires candidates to complete the AICPA professional ethics course and score at least 90 to pass the ethics exam.
Residency Requirements
Candidates must be residents of Rhode Island.
Social Security Number Requirement
A Social Security number is required for CPA licensure in Rhode Island.
International CPA Examination Program
Rhode Island participates in this program, allowing international candidates to apply for the CPA Exam through the state. Transcripts must be evaluated by NASBA International Evaluation Services (NIES) or Foreign Academic Credentials Service, Inc.
CPA Exam and Licensing Fees
The fees for the CPA examination and licensing in Rhode Island are:
Initial Application Fee: $170.00
Examination Fees (per section):
AUD: $238.15
BEC: $238.15
FAR: $238.15
REG: $238.15
Total for all sections: $1,122.60
License Renewal
CPA licenses in Rhode Island must be renewed every three years. Restoration of an expired license costs $500.
Continuing Professional Education (CPE) Requirements
Total Hours: 120 hours of CPE within each renewal period.
Ethics: Minimum of six hours in Ethics.
Personal Development and Marketing: Up to 24 hours.
CPE for Lecturing or Publishing: CPAs can earn credits for lecturing or publishing, but this is capped at 60 hours.
Conclusion
Becoming a CPA in Rhode Island involves meeting specific educational qualifications, passing the CPA Exam, completing relevant work experience, adhering to ethical standards, and engaging in ongoing professional development through CPE. With Rhode Island's concentration of corporate headquarters and its ranking as a top state for business, CPAs have significant opportunities to advance their careers in diverse industries. Continuous learning and adherence to professional standards are essential for maintaining CPA licensure and practicing effectively in Rhode Island's dynamic accounting landscape.