Are you curious about how to become a Certified Public Accountant (CPA) in Rhode Island? Keep reading to learn everything you need to know about becoming a CPA in Rhode Island, from fulfilling the educational criteria to acquiring experience, and everything in between.
Understanding Rhode Island CPA Requirements
Every state, including Rhode Island, has distinct CPA Exam requirements and licensure requirements. Candidates must acquaint themselves with these prerequisites and proceed accordingly. Here’s a breakdown of these requirements.
| Social Security Requirement | Yes |
| Age, Citizenship, and Residency Requirements |
|
| Good Moral Character | Yes |
| Education Requirement for Licensure | 150 hours (including a bachelor’s degree) |
| Pass the Exam | Score 75 to pass each section |
| Work Experience | 1 year |
| Ethics Exam Requirements | American Institute of Certified Public Accountants (AICPA®) Ethics Exam |
| International CPA Examination Program | Yes, is a participant |
Educational Requirements
Rhode Island CPA requirements mandate candidates to meet 150 semester hours of college education to sit for the exam and qualify for licensure. To do so, candidates must fall within the following criteria:
- Obtain a graduate degree in accounting from an accredited agency recognized by the Board.
- Obtain a graduate degree from a program accredited in business by an agency that the Board recognizes. This option must include at least 24 undergraduate semester hours or 15 graduate hours in accounting or an equivalent combination. Accounting courses must contain 6 semester hours of fundamental and intermediate financial accounting and reporting and at least 3 semester hours in advanced financial accounting and reporting, tax accounting, and auditing.
- Obtain a bachelor’s degree or higher from an accredited institution. This option must include at least 24 undergraduate semester hours in accounting and 24 semester hours in business courses at the undergraduate or graduate level. Accounting courses must comprise a minimum of 6 semester hours in each of the following: fundamental accounting, intermediate financial accounting and reporting, advanced financial accounting and reporting, tax accounting, and auditing. The business courses must include three semester hours each in business law and economics.
Work Experience Requirements
Rhode Island CPA candidates must complete at least 1 year (1,820 hours) of work experience verified by a licensed CPA. You can obtain experience providing any service or advice involving accounting, management advisory, attest, financial advisory, or tax consulting. You may engage in public practice and work with the government, industry, or academia to gain experience.
Ethical Exam Requirements
All CPA aspirants in Rhode Island must complete the AICPA professional ethics course and score at least 90 to pass the ethics exam.
Rhode Island CPA Exam & Licensing: Cost and Fees
The Rhode Island CPA Exam education evaluation application fee is $96, followed by an exam application fee of $96 and a per-section application fee of $262.64.
| Rhode Island CPA Exam Fees | |
|---|---|
| Education Evaluation Application Fee | $96 |
| Exam Application Fee | $96 |
| Auditing and Attestation (AUD) | $262.64 |
| Financial Accounting and Reporting (FAR) | $262.64 |
| Regulation (REG) | $262.64 |
| ISC/BAR/TCP | $262.64 |
| Total: | $1,242.56 |
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).
After meeting the criteria for CPA licensure, candidates can apply for a CPA license in the state and pay an initial license fee of $375.
License Renewal Requirements
All licensees must renew their CPA license every 3 years. To qualify for renewal, you must meet the Continuing Professional Education (CPE) requirements for the duration and pay a $375 fee for each renewal. If your license expires, you must pay an additional $500 for the restoration.
Continuing Education Requirements
All CPAs must earn at least 120 hours within each renewal period. The following must be included in the 120 CPE hours:
- A minimum of 6 hours in Ethics is needed.
- Up to 24 hours can be designated as Personal Development and Marketing subjects.
- CPAs can earn credits as the lecturer or moderator of a CPE session. However, this may account for no more than 60 hours of CPE.
- CPAs who develop content for published books or articles that cover topics related to CPA competence may earn credit for their preparation work. However, these credits cannot account for more than 60 hours of CPE.
Rhode Island CPA Exam: Exam Dates, Score Release, and Scheduling
Once you meet the CPA requirements for Rhode Island, you can apply for the Uniform CPA Examination in the state. However, it’s essential that you know the CPA Exam and score release dates along with the application process for a smooth ride. We offer a concise overview of these specifics to aid your application journey.
Exam Dates and Score Release
Candidates can schedule their CPA Exam based on their preference in alignment with the target CPA Exam and score release dates available on the AICPA website. However, it’s essential to note that the core sections are tested throughout the year, with discipline sections tested in specific windows.
Scheduling the CPA Examination
Each state has a slightly different application process. Here’s a quick guide to applying for and scheduling the Rhode Island CPA Exam.
Rhode Island CPA candidates can apply for the CPA Exam on the CPA Portal by creating an Okta account. It’s a unified portal to access your CPA Exam application, check your eligibility, receive notifications, get your Notice to Schedule (NTS), and access your scores. Save the credentials for future use.
As a participant in the International CPA Examination Program, international candidates or those who’ve completed their education outside the United States can apply for the Rhode Island CPA Exam.
After creating your Okta account, you must submit an education evaluation application to NASBA with your educational details and transcripts from the institution/university. If you’ve met the educational requirements outside of the United States, the following services will be helpful:
- NASBA International Evaluation Services (NIES)
- Foreign Academic Credential Service, Inc. (FACS)
- Educational Records Evaluation Service, Inc. (ERES)
The NASBA issues an Authorization to Test (ATT) to confirm the candidate’s eligibility to sit for the CPA Exam. Next, you can apply for CPA Exam sections by paying the exam application fee and an exam section application fee, 1 section at a time, and pay accordingly. Each exam section application is issued an NTS, and a Candidate Section ID (CES ID) is allotted for exam scheduling.
CPA Exams are held at Prometric testing centers, and candidates can schedule their exams using the NTS and CES ID allotted. You can select a preferred exam location and date through the Prometric website. Remember to carry a physical copy of your NTS to the testing center on the exam day.
Candidates must pass all the exam sections within 30 months with a score of 75 or higher.
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