CPA Procedure/Information

Toronto_Boy · 03-03-2010, 02:36 AM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by zubair_sco78
 Dear Toronto Boy,
You mean that we can transfer our credits from Delaware state to some other two tier state only if we meet the registeation as well as exam taking criteria of the state.

Please correct me if i am wrong.

You are absolutely right that just passing the exam is nothing but one should have atleast certificate.

Regards,
Zubair

<hr height="1" noshade id="quote"></blockquote id="quote">

Not only 2 tier but almost all States accept transfer credits of passed CPA exams. At-least I don't know any State which does not accept transfer credits.

Yes, a candidate would have to satisfy all criteria of new State as he/she was supposed to do BEFORE appearing in exams as a candidate of that new State. New State would not accept passing additional courses which WERE requirement BEFORE appearing CPA exam from that State.

Again I would suggest to all candidates of CPA to aim on requirements of "certificate" or "license" BEFORE appearing in any CPA exam. Once you appear in one exam then your education would be kind of "locked in". Its better to spend some time on taking all bridging courses or degree BEFORE appearing in CPA exam.

Regards

Kitro · 03-03-2010, 02:58 AM

I agree with Toronto_Boy. For example, if you registered with the Delaware BOA on the basis of not having the equivalent to a US bachelors degree (120 semester hours), you will not be able to transfer your scores after to any other state.

I have seen people applying to New Hampshire because of the lax educational requirement (bachelor degree with only 12 semester hours in accounting subjects and 12 in business subjects), yet NH requires 2 years of public accounting experience for the license. they were in a huge dilemma, since they couldn't find work in public accounting and couldn't transfer the CPA scores to other states which accept general accounting experience without completing additional courses AND retaking the CPA exam.

Kitro · 03-03-2010, 03:17 AM

One other thing, the work experience has to be under the supervision of a licensed CPA or in some cases members of accounting bodies which AICPA has a mutual agreement with.

For Delaware
"The experience must be obtained after you have your degree. It must be earned under the supervision of a licensed certified public accountant or a chartered accountant of Canada or Australia."
http//dpr.delaware.gov/boards/accountancy/faqs.shtml#Q8

nomanchaudhry · 03-03-2010, 02:59 PM

@ Kitro what if one is only interested in CPA certificate. in that case one just appears in exam from New Hampshire (after satisfying bachelors degree requirement) and get the certificate? is there any requirement like Michigan where one has to complete the criteria within a certain time frame? like for candidates outside US, the certificate is good enough as licensure is primiarly good for work in the US....
please advice!

zubair_sco78 · 03-03-2010, 04:23 PM

Dear All,
If someone wants to work in Gulf and Pakistan in industry not in public practice then will it be ok if we pass the exam only and not go for certificate or license? Just like ACCA students they pass the exam thats all.

What is your point of view on this?

Specialy in Gulf CPA-USA is in very great demant.

Regards,
Zubair

Toronto_Boy · 03-03-2010, 05:02 PM

Dear Noman

New Hampshire (NH) is not a 2 tier State. It means they offer only "license" after passing CPA exam. To issue "license" NH 2 years public accounting experience under US licensed CPAs or CAs of bodies with which they have MRA. Please see at following links;

http//www.nh.gov/accountancy/faq/index.htm#tier

http//www.nh.gov/accountancy/certification/index.htm

To check detailed certification rules, one may go to each BOA weblink I have provided above and then check under "certification requirements".

Regards

Toronto_Boy · 03-03-2010, 05:09 PM

Dear Zubair

It would look like if someone has passed all exams of BCom but does not have a degree. Just passing exams has no "status". One cannot represent himself as CPA. Even with certificate only (i.e. without "license") one cannot represent himself as CPA.

After passing all ACCA exams, one becomes affiliate only, not "ACCA". To be called and write "ACCA", one needs required satisfactory experience of certain number of years.

Regards

Toronto_Boy · 03-04-2010, 12:53 AM

Dear Noman

Please see State of Maineâs requirements at following links. Basically one needs public accounting experience under licensed CPA.

http//www.mainelegislature.org/legis/statutes/32/title32ch113sec0.html
http//www.mainelegislature.org/legis/statutes/32/title32sec12228.html
http//www.maine.gov/pfr/professionallicensing/professions/accountants/cpa.htm
http//www.maine.gov/sos/cec/rules/02/280/280c004.doc
http//www.maine.gov/sos/cec/rules/02/280/280c005.doc

Please see State of Vermontâs requirements at following links. Again, a candidate needs public accounting experience under licensed CPA.

http//www.leg.state.vt.us/statutes/fullchapter.cfm?Title=26&Chapter=001

http//vtprofessionals.org/opr1/accountants/rules/Accountancy%20Rules%20-Effective%20August%207%202009.pdf

http//vtprofessionals.org/opr1/accountants/

I hope it helps.

Regards

nomanchaudhry · 03-04-2010, 09:47 PM

@ TorontoBoy Can u guide about Maine and Vermont please?

Kitro · 03-04-2010, 11:48 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by nomanchaudhry
 @ TorontoBoy Can u guide about Maine and Vermont please?
<hr height="1" noshade id="quote"></blockquote id="quote">

Why would you register with Maine or Vermont if you don't have public accounting experience ? Waste of time.

Toronto_Boy · 03-04-2010, 11:54 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by nomanchaudhry
 @ TorontoBoy Can u guide about Maine and Vermont please?
<hr height="1" noshade id="quote"></blockquote id="quote">

Dear Noman

I don't know what guidance you are asking about. Please ask specific question so I could reply with best of knowledge.

From their rules/ laws provided on above links, it appears that both are not 2 tier States. It means that they offer "License" only, for which they need "public accounting experience" under licensed CPA or CA of associations with which AICPA has MRA.

Regards

nomanchaudhry · 03-05-2010, 03:45 PM

@ Toronto Boy based on the situation, what suggestions do u have for pakistani students wanting to do CPA. We need an acceptable Bachelors degree with 150/ 120 credit hours including some hours in accounting related subjects. For this what state would u suggest based on ur knowledge and insight. secondly there are some states that requires public accounting experience which obviously cannot be arranged. Based on both requirements and complexities what do u suggest we do?
Lastly sometime ago quite a few fellow ACMA colleagues of mine got evaluation done for colarado state, do u think its still an option? i know they have stopped recognition of ACCA and ICAP but i think ppl can still go their for exams after getting evaluation done like ACMA's.

Toronto_Boy · 03-05-2010, 05:34 PM

Dear Noman

First of all only those should go for CPA who already have visit visa for USA or can enter USA legally. Otherwise all efforts would be futile if one could not get visit visa later.

In my view, there could be 2 options. First find a State which accepts industry experience. Second option is a 2 tier State so one can get certificate at-least. Then start backward from their "license" or "certificate" requirements. Check the following;

(1) That State does not require Social Security Number (SSN). Or at-least accepts "No SSN Number Affidavit".

(2) Check how many credit hours are required for "certicate", "license", and for appearing in exam. Generally aim for 150 credit hours and for 36 accounting specific hours.

(3) Must check whether that State accepts on-line courses, or requires only in-class courses.

After this exercise and shortlisting about 2 or 3 States, send all required documents to "evaluator". After evaluation, complete courses which are deficient from "license" or "certificate" point of view.

After all courses requirements are satisfied, then apply for CPA exams and appear in those. After passing all 4 in 18 months revolving window, apply for "certificate" or "license".

Perhaps you may apply for Colorado under Rule 2.5 provided you have 150 general hours including 45 specific accounting hours. Following link may help.

https//www.nasbatools.com/display_page?id=86

http//www.dora.state.co.us/accountants/licensing.htm Click on "Board Rules" under heading "Laws, Rules, Policies". See details at page 5 for Rule 2.5.

I hope it helps.

Regards

Dard · 03-05-2010, 07:40 PM

Dear Toronto boy,
Are ACCA members(who have gone through 1-3 years training in BIG4 audit firms in Pakistan) allowed to sit for the CPA exam and gain certificate?

Toronto_Boy · 03-06-2010, 12:17 AM

Dear Dard

Pakistani experience (both public and non-public) may be acceptable toward industry experience requirement of State. But most likely, it may not be acceptable for public accounting experience requirement.

To sit in CPA exams, one needs to satisfy "educational requirements" for appearing in exams. I have said earlier, our Pakistani BA/BCOM/BSc/BBA and Masters degrees/ courses (HEC recognized) are acceptable for CPA exams and "certificate" or "license".

Untill recent, ACCA members were allowed to appear in Colorado CPA exams and later for license, but it appears that Colorado is changing rules for ACCA. So, I don't know what gonna happen. They may try for other States if Colorado gives hard time.

Regards