Vermont (VT) CPA Exam Applicant requirements state that you must be declared eligible for the CPA Exam and then licensed by the state. A candidate becomes eligible for the CPA Exam by meeting specific requirements that are determined by the board of accountancy for their specific jurisdiction. Below are the Vermont CPA Exam requirements:
Vermont CPA Exam Education Requirements
The Vermont Board of Accountancy requires 150 semester hours for you to be a licensed CPA.
You need to hold a bachelor’s degree at a minimum and complete 150 total semester hours of college credit.
As a first-time applicant or re-examination applicant for the CPA exam, you must have the following:
- good moral character
- earned a minimum of 120 semester hours of general college-level education with 30 semester hours in accounting and business courses, including:
- six semester hours of financial accounting or managerial accounting (Introductory Accounting is excluded)
- three semester hours in auditing
- three semester hours in U. S. income tax
- three semester hours in U. S. business law
As for your coursework to apply for a license, it should meet the qualifications the Vermont board has advised. You need to complete 42 semester hours of accounting and business courses. Your coursework should adhere to the following:
- six semester hours of financial accounting or managerial accounting (not elementary accounting)
- three semester hours in auditing
- three semester hours in U. S. income tax
- three semester hours in U. S. business law
Commercial CPA review courses are not acceptable.
Courses from any institution may count, provided they are transferred to a regionally accredited institution.
Experience
Vermont insists that you complete one year of public or non-public accounting work under the supervision of a Vermont-licensed CPA. Keep diligent records of your time and the duties you perform. At a minimum, the board needs to see 500 hours of attest and 200 hours of auditing work.
Upon completion of the year, your supervisor will need to fill out a Report of Supervised Experience Form and submit it to the Vermont Board.
Here are the minimum experience requirements:
- One year of public accounting experience (2,080 hours) is required.
- All candidates will be required to have 150 semester hours to be licensed
- Licensees submitting evidence of an applicant’s experience must provide proof of holding a license in good standing as a CPA or equivalent license for the period of supervision.
Ethics exam
All candidates must complete a course of study in professional ethics for accountants equivalent to eight hours of continuing professional education that shall include the AICPA Code of Conduct or Vermont accountancy statutes and rules.
For specific Vermont CPA application instructions.
Vermont CPA Exam Age Requirements
The Vermont Board of Public Accountancy does not require a specific age for its CPAs.
It will require you to have a Social Security number, though some states will also accept a Green Card or other form of taxpayer identification.
Vermont CPA Exam Residency Requirements
- U.S. Citizenship Required: No
- Must be a resident, employee OR have office in the state? No
Vermont CPA CPE Requirements
Vermont CPAs must renew their license every two years. At the time of your biennial license renewal, you will be asked to verify the completion of your CPE.
- CPE Reporting Cycle: The CPE requirement for the two-year licensing period beginning August 1 and ending July 30 (ie. 2009 – 2011) is 80 hours.
- Ethics Requirement: All licensees must successfully complete four hours of CPE in ethics which may include the AICPA Code of Conduct or Vermont accountancy statutes and rules.
- Accounting and Auditing Requirement: All licensees must successfully complete eight hours of CPE in accounting and auditing.
AICPA CPE Requirements
Earn 120 hours every three years. (Report compliance on annual dues statement.) Retired, unemployed, members who have temporarily left the workplace, members who place their license on inactive status with the State Board of Accountancy AND do not hold themselves out as CPAs are exempt. Consult the AICPA website for additional questions.
General Accounting Office (GAO) CPE Requirements
Earn a minimum of 20 hours annually, 80 hours biannually with 24 hours in governmental subjects for certain staff members. Must be licensed to practice in order to perform governmental audits. Consult the Yellow Book for reporting requirements.
Vermont CPA Exam Fees
| Education Evaluation Application Fee | $90.00 |
| Auditing and Attestation (AUD) | $344.80 |
| Financial Accounting and Reporting (FAR) | $344.80 |
| Regulation (REG) | $344.80 |
| Disciplines (ISC, TCP, or BAR) | $344.80 |
| Total for all 4 CPA Exam Sections | $1,379.20 |
| Initial CPA Registration Fee | $115.00 |
| Biennial Renewal Fee | $255.00 |
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