The Path to CPA Certification in New York: An Essential Guide
New York, a global financial center, offers unparalleled opportunities for Certified Public Accountants (CPAs). The New York State Board of Accountancy outlines specific criteria for obtaining a CPA license in the state. This guide will provide you with the necessary steps and requirements to become a CPA in New York.
Educational Requirements
To be eligible for CPA licensure in New York, candidates have several educational pathways:
Option 1: 120-hour licensure pathway for candidates who applied before August 1, 2009, or graduated after this date.
Option 2: 120-hour sit rule for candidates who wish to take the exam before completing the 150-hour requirement.
Option 3: Standard 150-hour pathway.
Candidates must have at least 150 semester hours of college education, with 33 hours in accounting and 36 hours in business-related courses.
Work Experience Requirements
For the 150-hour pathway: A minimum of one year of full-time experience.
For the 120-hour education pathway: Two years of satisfactory full-time experience.
Experience must be in areas like accounting, taxation, financial advisory, and must be verified by a CPA licensed in the same jurisdiction.
Ethics Exam
New York does not require the AICPA ethics examination for CPA licensure. However, CPAs must include at least four hours of ethics education or training in their continuing education.
International CPA Examination Program
New York participates in this program, aiding non-U.S. citizens to become CPAs. International candidates with education outside the U.S. must submit specific forms and transcripts to the New York State Education Department. NASBA International Evaluation Services is not authorized to approve educational backgrounds for New York licensure.
CPA Exam and Licensing Fees
The fees for the CPA examination and initial licensing in New York 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
Initial Registration Fee: $427
License Renewal
License renewal in New York is done online and requires payment with a credit card. The renewal process involves:
Online License Renewal: Available in the final five months of the current registration period.
Processing Time: Approximately 2 business days.
Change of Address: If applicable, your certificate will be sent to your new address.
Continuing Professional Education (CPE) Requirements
CPAs in New York must fulfill these CPE requirements:
Annual Requirement: 24 or 40 contact hours of formal continuing education each year.
Ethics Requirement: Four contact hours in professional ethics every three years, which can count towards the annual CPE credit requirement.
Conclusion
Achieving CPA certification in New York is a testament to one's dedication and competence in the accounting field. Meeting the state's educational, examination, and experience requirements, along with ongoing professional education, ensures that New York CPAs maintain the highest standards of the profession in a dynamic and competitive financial landscape.