Do you want to become a Certified Public Accountant (CPA) in Vermont? If so, find out everything you need to know about the CPA requirements to become a license holder in the state. Below, you’ll learn the CPA Exam and licensing requirements, as well as information on the cost and fees required to become a CPA in Vermont.
Vermont CPA Requirements
As you work toward CPA licensure in Vermont, there are 3 primary requirements you should know about: education, work experience, and ethics exam requirements. There are also other requirements you must meet, such as citizenship, residency, and having a Social Security Number. Below is a summary of the CPA requirements in Vermont:
| 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 or higher in each exam section |
| Work Experience | 1 year of full-time experience (2,080 hours) |
| Ethics Exam Requirement | Must complete a course of study in professional ethics for accountants |
| International CPA Examination Program | Vermont participates in the International CPA Exam Program |
Vermont CPA education requirements
To take the CPA Exam, candidates in Vermont must complete at least 120 semester hours of college education, with at least 30 hours in accounting and business subjects. This is to include:
- 6 semester hours in finance or managerial accounting
- 3 semester hours in auditing
- 3 semester hours in U.S. taxation
- 3 semester hours in U.S. business law
If your course completion or graduation occurs within 60 days following your examination date, you must file official transcripts no later than 120 days following the examination.
For CPA licensure, candidates in Vermont must obtain a bachelor's degree and at least 150 semester hours, 42 of which must be in accounting, auditing, and related subjects.
Vermont CPA experience requirements
CPA candidates in Vermont are required to complete 1 year (2,080 hours) of work experience in public accounting under the supervision of a CPA. The experience must include work in specific areas to be considered valid, such as:
- The application of U.S. generally accepted accounting principles (GAAP), as well as generally accepted auditing standards (GAAS), statements on standards for accounting and review services (SSARS), and other services subject to generally accepted professional standards.
- The review and preparation of tax provisions and reserves.
- Financial statement preparation from the books of account without audit and related tax returns, or the performance of other related services.
- Design and installation of accounting, cost, or other systems when not related to an extension of auditing assignments and other management advisory services.
- A combination of experience determined substantially equivalent by the State Board.
A full outline of accepted forms of public accounting experience and substantially equivalent forms of work experience can be reviewed within the State Board’s administrative rules. Upon satisfying the requirements, your supervisor must submit a Report of Supervised Experience form to the State Board.
Vermont CPA Exam & License Fees
First-time CPA Exam applicants in Vermont are required to pay a $96 education evaluation fee along with a $96 exam application fee. In addition, each CPA exam section costs $262.64, which must be paid when you apply to take the exam. Once you have passed all CPA Exam sections, met the work experience requirement, and completed the ethics exam, you can apply for a Vermont CPA license through the state’s online portal. The Vermont CPA license application fee is $100.
| Vermont CPA Exam Fees | ||
|---|---|---|
| Education Evaluation 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).
Vermont CPA License Renewal & CPE Requirements
Vermont CPA license holders must renew their licenses biennially with a fee of $220. They must also submit proof of completed continuing professional education (CPE) that meets the following requirements:
- If you were licensed prior to the start of the current renewal cycle, you must complete 80 total CPE credits (4 in ethics, 8 in accounting and auditing, and the remaining 68 in accountancy-related matters)
- If you were licensed in the first year of the renewal cycle, you must complete 40 total CPE credits in accountancy-related matters
- If you were licensed after the first year of the renewal cycle, you do not need to complete CPE
Visit the State Board website to view the latest information on Vermont CPA CPE requirements.
Vermont CPA Exam Dates, Score Release, and Scheduling
CPA exam requires strategic planning, and to plan, you need to be aware of the exam dates, score release timelines, and scheduling process. Here's what you need to know to navigate the process smoothly!
Exam Dates & Score Release
Vermont CPA aspirants can sit for the CPA Exam year-round based on their preferred date and location. Your score will be available within 48 hours of the American Institute of Certified Public Accountants’ (AICPA®) listed CPA Exam score release date.
Exam Section Scheduling
Scheduling the CPA Exam has multiple steps, and you need to provide plenty of documents as well. Learn more about scheduling the CPA Exam below:
To initiate the application process, you must first create an Okta account. It will grant you access to the CPA portal, where you can make payments and access essential documents, such as payment receipts and the Notice to Schedule (NTS).
The next step is to apply for an education evaluation to determine your eligibility for taking the Vermont CPA Exam. Ensure your educational transcripts are sent directly from your university to NASBA. Vermont participates in the International CPA Examination 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).
After the educational evaluation is completed, the CPA portal will display your eligibility for the exam. If eligible, you can proceed with the exam section application process. You can only apply for 1 section exam per application. You will receive an NTS after you apply. The CPA portal will indicate your NTS status and expiration date. You will be assigned a Candidate Exam Section ID (CES ID), which you’ll need when scheduling your exam. It’s important to note that you will receive an NTS for each section after completing the application process.
After receiving your NTS, you can schedule your CPA Exam through Prometric. The portal helps candidates schedule the exam based on their preferred date and location. You will need an NTS number and CES ID while scheduling the CPA Exam.
To pass the CPA Exam, you need to score at least a 75 on each section. Make sure you have a study plan and the right prep materials that work for you.
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