Rhode Island CPA Exam and License Requirements

Publication Date :

10 May, 2023

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Rhode Island CPA Exam

Rhode Island CPA (Certified Public Accountant) License is a state-board issued credential to practice the accounting profession in the Ocean State. With several Fortune 100 companies stationed in the state, it is the perfect place to get started with an accounting career. To get an edge in the profession, secure the Rhode Island CPA License by meeting the state-stipulated exam and license requirements.

The Rhode Island Board of Accountancy (RBOA) is responsible for granting licenses to CPAs. In addition, the board regulates the CPA profession, ensuring that it operates at the highest level of competence. Also, the state administers the CPA Examination at worldwide locations.

Rhode Island is a one-tier state. Therefore, candidates don’t acquire a CPA certificate after passing the CPA Examination. Alternately, they immediately possess the CPA license following the completion of necessary prerequisites.

Though limited in size, the state is optimally located in the Northeast in close proximity to major domestic and international markets, giving it all the advantages of a business hub. Moreover, companies are also offered tax credits for increasing their workforce in the state. Thus, it makes an ideal region for business expansion.

It also boasts of several high-profile diverse industries that seek varied accounting services requiring the expertise of CPAs. Besides well-established companies, the state abounds with small enterprises that need the financial insights of CPAs to improve their financial standing.

Therefore, the employment prospects of licensed accounting professionals in the state are bright. Besides that, the numerous opportunities allow CPAs to widen their horizons and take up challenging works to carve out a fulfilling career for themselves.

Now, let’s discuss further the Rhode Island CPA exam and license requirements.

Particulars	Details
Rhode Island CPA License Issuance Authority	Rhode Island Board of Accountancy
Licensing Pattern	1-tier
International Examination Program	Available
Rhode Island CPA Exam Requirements	Obtain residency
Attain 120 semester hours of education
Submit the Fees to CPAES
Pass the Exam with at least 75 points
Rhode Island CPA Licensure Requirements	Get residency
Complete at least 150 semester hours
Score a minimum of 75 points in the CPA Exam
Obtain 1 year of work experience
Pass the Ethics Exam with at least 90%

Contents

Rhode Island CPA Exam Requirements

Eligibility Requirements
Fees
Required Documents

Rhode Island CPA License Requirements

Education Requirements
Exam Requirements
Experience Requirements
Ethics Requirements

Continuing Professional Education (CPE)

Rhode Island Exam Information & Resources

Rhode Island CPA Exam Requirements

The Uniform CPA Examination is organized in a computer-based style at domestic and international Prometric testing centers all-round the year. It assesses a candidate’s competence in dealing with the real-life work of a CPA.

The American Institute of Certified Public Accountants (AICPA), the state boards of accountancy, the National Association of State Boards of Accountancy (NASBA), and Prometric are authorized entities for conducting the exam.

The exam comprises four sections, each with a passing grade of 75 points. Its format incorporates five testlets with multiple-choice questions (MCQs), task-based simulations (TBSs), and written communication tasks (WCTs).

Applicants have a rolling 18-month duration for completing the CPA Exam successfully. This period begins when they attempt the first qualified exam section.

Particulars	Details
CPA Exam format	Online
Sections	Financial Accounting & Reporting (FAR)
Auditing & Attestation (AUD)
Business Environment & Concepts (BEC)
Regulation (REG)
Duration	16-hour long (4-hour per section)
Regulatory authority	AICPA
NASBA
Prometric
Examination timeline	18-month period (from the testing date of the first qualified section)
Passing grade	75 points on a scale of 0-99
Testlets	5
Question types	MCQs
TBSs
WCTs

Eligibility Requirements

General Requirements

Candidates must be residents, regularly employed, or have a business place in Rhode Island (RI).

Educational Requirements

Candidates can take one of the following pathways to obtain 120 semester hours:

Particulars	Pathway 1	Pathway 2	Pathway 3
Education	Graduate degree with an accounting major	Graduate degree	Baccalaureate degree or higher degree
Degree Program	Accounting program	Business program	Accredited institution
Accrediting Agency	Board-recognized	Board-recognized	Board-recognized
Accounting Hours	-	Minimum 24 undergraduate-level or 15 graduate-level semester hours in accounting or an equivalent combination: 6 semester hours in both fundamental accounting and intermediate financial accounting & reporting 3 semester hours each in advanced financial accounting & reporting, tax accounting, & auditing	Minimum 24 semester hours in accounting at the undergraduate or graduate level with: At least 6 semester hours in both fundamental accounting and intermediate financial accounting & reporting At least 3 semester hours each in advanced financial accounting & reporting, tax accounting, and auditing
Business Hours	-	-	Minimum 24 semester hours in business courses (except accounting courses) at the undergraduate or graduate level with: At least 3 semester hours in both business law and economics

Rhode Island CPA Exam Eligibilty Requirements

Apply through CPA Examination Services (CPAES) along with the associated fees and documents. Please refer to the NASBA portal for the complete procedure. NASBA Advisory Evaluation is also available to pinpoint any academic defects in the candidate’s education before the final submission.

Fees

Here is the CPA exam fee structure for first-time and re-examination candidates.

Particulars	Examination Fees	First-time Applicant Fees	Re-exam Applicant Fees
Application Fee	-	$170	-
Registration Fee	-	-	$85
Exam sections	-	-	-
AUD	$238.15	-	-
BEC	$238.15	-	-
FAR	$238.15	-	-
REG	$238.15	$952.6	$952.6
Total Fees	$952.6	$1,122	$1,037.6

RI applicants can’t back away from the exam or request a Notice-to-Schedule (NTS) extension. However, they may appeal for a partial examination fee reimbursement or an NTS extension in grave conditions.

Both application and examination fees are non-refundable. Moreover, CPA aspirants must only apply for the exam section(s) possible to take up within the NTS validity period, i.e., six months.

Required Documents

Submit the below-mentioned documents separately or along with the initial application.

Documents	Submission
Official school transcript(s)	Candidate
International evaluation summary with international transcripts	Candidate or NASBA International Evaluation Services (NIES) or Foreign Academic Credentials Service, Inc. (FACS)
Testing Accommodations Request Form	Candidate
A valid RI driver’s license	Candidate

The college or university must send the e-transcripts directly to NASBA. Note that photocopied transcripts are unauthenticated and, accordingly, unacceptable.

Rhode Island CPA License Requirements

Ensure to complete the following steps along the path to RI CPA licensure.

Acquire Rhode Island residency
Hold a valid Social Security Number
Obtain 150 semester hours
Pass each of the four CPA exam sections with at least 75 points
Gain at least one year of relevant work experience
Score a minimum of 90% in the AICPA’s Ethics Exam

Apply through RBOA along with the required documents and fees. For more details, kindly visit the RI state board website.

Education Requirements

RI CPA licensure applicants must complete 150 semester hours from an authorized college or university. There are three pathways to earn the required hours. Please check the Eligibility Criteria section for detailed information.

Exam Requirements

Candidates must pass all four CPA exam sections with at least 75 points on a scale of 0-99. From the testing date of their first qualified section, they have 18 months to conclude the licensure test. More information is specified in the Rhode Island Exam Requirements section.

Experience Requirements

RI CPA aspirants must obtain at least one year (1820 hours) of admissible work experience under the supervision of a licensed CPA or PA. In addition, the supervising CPA/PA must submit the Experience Verification Form directly to the RBOA office.

Ethics Requirements

Candidates must secure a passing grade of at least 90% in the AICPA Comprehensive Course Ethics Exam. It encompasses the rules and regulations associated with the practice of a CPA.

Check out all the details here.

Particulars	Requirements
Course Title	Professional Ethics: The AICPA’s Comprehensive Course (For Licensure)
Exam Vendor	AICPA
Passing Score	A minimum of 90%
Mode	Online
Exam Content	Independence Requirements
Ethics
Integrity, Objectivity, & Professional Conduct
Activities that stigmatize the profession
AICPA Code of Professional Conduct
Conceptual Framework
Ethics Interpretations
Format	Self-Study
Open-book
Price	AICPA Members	$189
Non-members	$245
Level	Basic
Availability	1-year

Continuing Professional Education (CPE)

All RI CPAs must earn 120 CPE credit hours over a triennial period. Candidates can obtain the hours from programs rendered by NASBA’s National Registry of CPE Sponsors.

Here lies all the relevant information.

Particulars	Details
License Renewal Date	June 30 (Triennially)
CPE Reporting Period	July 1-June 30 (Triennially)
General CPE Requirement	120 hours
Ethics Requirement	6 hours in every 3 years
Credit Limitations	Instruction	Maximum 60 hours over 3 years
Published Materials	Maximum 60 hours over 3 years
Personal Development & Marketing	Maximum 24 hours per reporting period
Self-Study	NASBA’s Quality Assurance Service approved or interactive credits
Nano Learning	Acceptable only in 0.2 increments
Credit Calculation	Instruction	Credits = Presentation Time + Preparation Time (limited to 2 times presentation time)
Acceptable in 0.2-, 0.5-, or 1-hour increments
Other State Policies	Qualifying programs	Formal learning programs contributing directly to the professional capability of a CPA or PA
Exemption	Licensee’s principal place of business with CPE requirements	Meet state-specific CPE requirements
Licensee’s principal place of business without CPE requirements	Meet RI CPE requirements

Congratulations to all the newly licensed CPAs in RI! Now, just ensure to renew the license every three years. Furthermore, consider joining the AICPA or RI Society of CPAs to get academic and professional counseling.

Rhode Island offers an admirable merger of both stellar accounting career options and an inexpensive cost of living. Moreover, prepping for one of the most challenging certifications in a place packed with natural beauty is the perfect combination for CPA aspirants.

Therefore, satisfy the license requirements and pass the CPA Exam at the earliest to enjoy a rewarding career in the peaceful state of Rhode Island. Remember that there are numerous specialization areas to choose from after licensure. So, select the most suitable one and kick-start the professional journey! Learn more about CPE Credits for CPA