Michigan CPA Requirements: Detailed Overview
For those aspiring to become a CPA in Michigan, known for its robust manufacturing sector, here are the detailed requirements for CPA Exam and licensure:
Social Security, Age, Citizenship, and Residency Requirements
Social Security Requirement: Yes, you must provide a Social Security number.
Age Requirement: No specific age requirement.
Citizenship: U.S. citizenship is not mandatory.
Residency: No residency requirement in Michigan.
Education Requirements for Licensure
Credit Hours: 150 semester hours, including a Bachelor’s degree.
Undergraduate Requirements:
Auditing: 3 semester hours in Auditing (excluding internal auditing).
Accounting: 21 semester hours in accounting, covering Governmental/Fund Accounting, Financial Accounting and Accounting Theory, U.S. Federal Taxation, Accounting Systems and Controls, Managerial Accounting, including Cost Accounting.
Business Subjects: 24 semester hours in business courses.
Work Experience Requirements
Duration: 2,000 hours of qualifying work experience, earned within 1 to 5 years.
Scope of Work: Experience can be in various fields including auditing, tax preparation, accounting-related work in public accounting firms, and more.
Ethics Exam Requirements
Mandatory State Ethics Exam: Not required for CPA certification in Michigan.
International CPA Examination Program
Participation: Michigan participates in the International CPA Examination Program.
Process: International candidates must meet Michigan CPA requirements and complete the international registration procedure.
CPA Exam & Licensing - Cost and Fees
Initial Application Fee: $147
Examination Fees: $238.15 for each CPA Exam section (AUD, BEC, FAR, REG).
Re-Examination Fees: Varies based on the number of sections retaken, ranging from $88 to $97.
New CPA License Application Fee: $300
License Renewal Fee: $200
Relicensure Application Fee: $320
License Renewal Requirements
Renewal Period: Every two years.
Continuing Professional Education (CPE):
For Michigan Residents: 80 hours in total, with 40 hours annually, including 8 hours in auditing and accounting, and 2 hours in professional ethics.
For Out-of-State Residents: Fulfill the CPE requirements of the primary business state or comply with Michigan’s CPE standards if the primary state has no CPE requirements.
CPA Exam: Dates, Score Release, and Scheduling
Exam Availability: The CPA Exam is available throughout the year during designated testing windows.
Score Release: Scores are typically released by the AICPA according to a set schedule, a few weeks after the exam date.
Application Process: Candidates apply through the Michigan Board of Accountancy, receive a Notice to Schedule (NTS), and then schedule their exam sections through Prometric.
This comprehensive guide offers an overview of the requirements and processes for becoming a CPA in Michigan. Candidates should always verify the latest requirements and procedures with the Michigan Board of Accountancy or NASBA, as rules and regulations may change.