Wondering how to become a CPA in Guam? Keep reading to learn about the CPA Exam and licensing requirements, as well as information on the cost and fees required to become a CPA in Guam.
Decoding Guam CPA Requirements
While most states and territories have requirements related to citizenship, residency, and age, it’s important to emphasize that license requirements often diverge from exam criteria. Here’s what you need to know before taking the Guam CPA Exam.
| Social Security Requirements | Not Required |
| Age, Citizenship, and Residency Requirements |
|
| Good Moral Character | 3 references of good moral character need to be submitted to the board. |
| Education Requirement for Licensure | 150 hours (including a bachelor’s degree) |
| Exam Passing Requirements | Need to score 75 in each section to pass |
| Work Experience | 1 to 2 years of related work experience |
| Ethics Exam Requirements | No ethics exam required |
| International CPA Examination Program | Participates in the International CPA Exam Program |
Educational and Credit-Hour Requirements
- To sit for the CPA Exam, 120 semester hours are required.
- Additionally, a bachelor’s degree in accounting from an accredited college or university, or a bachelor’s degree in business that includes at least 24 semester hours of accounting courses, is also required.
- Alternatively, you can hold a bachelor’s degree that comprises 24 semester hours of accounting and 24 semester hours of business.
- To obtain a CPA license in Guam, you must have completed 150 semester hours.
Work Experience Requirements
To become a CPA in Guam you must complete 2 years of work experience (minimum of 4,000 hours) in public accounting. Alternatively, you could complete 1 year of experience in public accounting through government, academic, or industry employment along with 150 hours of education. A valid CPA license holder must verify your work experience.
Guam CPA Exam & Licensing: Cost and Fees
The CPA Exam education evaluation fee in Guam is $136. Additionally, there is a fee of $262.64 for each section application, in addition to a $116 exam application fee. To apply for a CPA license in Guam, you must pay $225 for the initial license. If your license has been inactive, you will also pay this fee with the application for reactivation.
| Guam CPA Exam Fees | |
|---|---|
| Education Evaluation Application Fee | $136 |
| Exam Application Fee | $116 |
| Auditing and Attestation (AUD) | $262.64 |
| Financial Accounting and Reporting (FAR) | $262.64 |
| Regulation (REG) | $262.64 |
| ISC/BAR/TCP | $262.64 |
| Total: | $1,302.56 |
Pass the 3 core sections, AUD, FAR, and REG, and 1 discipline section: Information Systems and Controls (ISC), Business Analysis and Reporting (BAR), or Tax Compliance and Planning (TCP).
License Renewal Requirements
The expiration date for all CPA licenses in Guam is June 30 of each year. The license renewal cost is $100 annually. Candidates are exclusively responsible for renewing their licenses on schedule and disclosing any changes to the following details:
- Employer
- Address
- Email address
- Phone number
The changes should be communicated to the board within 30 days. If you fail to submit your CPA license renewal application by June 30, you’ll be charged a $75 late fee.
Continuing Education Requirements
CPA licensees in Guam, whether active or inactive, must complete a minimum of 20 hours of Continuing Professional Education (CPE) annually to renew their license, totaling 120 CPE hours over 3 years. It should include a minimum of 30 hours dedicated to accounting and auditing, 30 hours to personal development courses, and a minimum of 6 hours to ethics courses.
Guam CPA Exam: Dates, Score Release, and Scheduling
Preparing for the Guam CPA Exam is a strategic journey, and understanding the exam logistics is crucial for a seamless experience. Below we’ll go over the intricacies of exam dates, score release timelines, and the step-by-step process for scheduling your exam sections with confidence.
Exam Dates & Score Release
Candidates can apply and sit for the CPA Exam at their preferred time, aligned with the CPA Exam and score release dates. It’s essential to note that the American Institute of Certified Public Accountants (AICPA®) periodically updates its policies. For the CPA Exam, continuous testing is in effect for the core sections, whereas discipline sections are held during specific windows.
Exam Section Scheduling
To initiate the application process, first, you need to create an Okta account to access the CPA Portal. Then select “new candidate” or “existing candidate.” You’ll receive emails to confirm both the Okta account and CPA portal opening confirmation. This portal is to help you with the end-to-end CPA Exam process. Here you can manage your details, make payments, and access your documents such as payment receipts and Notice to Schedule (NTS).
The next step is to apply for an education evaluation to see if you’re eligible to take the Guam CPA Exam. Your education transcripts should be sent directly from your institution to CPA Exam Services. Guam participates in the International CPA Program. If you completed your education outside of the United States, you can obtain an education evaluation from one of the following recognized services:
- NASBA International Evaluation Services (NIES)
- Foreign Academic Credential Service, Inc. (FACS)
- Educational Records Evaluation Service, Inc. (ERES)
Once your educational evaluation has been completed, the CPA Portal will show your eligibility for the exam. If you are eligible, you can go ahead with the exam section application process. You can only apply for 1 section exam per application and pay both the exam application and section fee.
Upon applying for the CPA Exam, you will receive an NTS. Your home page will have your NTS status and expiration date. Additionally, you will need a Candidate Exam Section ID (CES ID) at the time of exam scheduling. Note that you will receive an NTS for each section once the application process is complete.
You can schedule your exam dates on the Prometric website as soon as you receive the NTS. You will require the NTS number and CES ID to schedule the exam. Make sure you choose a suitable date well in advance to avoid any hassle. Planning allows you to secure preferred testing slots and effectively prepare for the exam. Your CPA portal home page will show your exam section status. Please note that you need to take a physical copy of your NTS to the exam center when you go to take the exam.
A minimum score of 75 is required in each section to pass the CPA Exam. Also, you need to pass all the sections within a 30-month time frame.
Read More Related Articles
CPA Exam Requirements
What does it take to become a CPA? Here is a detailed look at the CPA requirements in each state and territory.
CPA Exam Scheduling & Registration
Having trouble registering as a CPA? Learn how to schedule and sign up for the CPA Exam.
CPA Exam Pass Rates
Are you wondering how hard it is to pass the CPA Exam? View the pass rates for each year and decide how to prepare.
How Is the CPA Exam Scored?
Are you curious about how the CPA Exam is scored? Find out everything you need to know about scoring and grading here.
