Vermont CPA Exam and License Requirements

Publication Date :

15 May, 2023

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Vermont CPA Exam

Vermont Certified Public Accountant (CPA) License is an accounting credential conferred by the Vermont Board of Public Accountancy to accredited experts. Earning the CPA license requires you to fulfill Vermont-specific exam, education, and other requirements.

Vermont observes a one-tier licensing system. Under this system, you must pass the CPA Exam and attain the required experience before applying for the license. Furthermore, Vermont State Board is the license-issuing authority.

Before going into detail, let’s look at key aspects of the Vermont CPA exam and license requirements.

Particulars	Requirements
Minimum age	Not required
U.S. Citizenship	Not required
Residency	Not required
Social Security Number (SSN)	Required
Education Requirement for CPA Exam	Minimum 120 semester hours (bachelor’s degree) with 30 semester hours in accounting and business
A passing score in the CPA Exam	Minimum 75 points in each exam section
Education requirement for a license	150 semester hours with Bachelor’s degree 42 semester hours in accounting, auditing, and related subjects
Experience requirement for licensure	1 year of experience in public (or equivalent non-public) accounting
Ethics exam	Board-approved ethics course

Note that the U.S. jurisdiction also participates in the international administration of the CPA Exam. Here is the Vermont CPA licensure process.

Contents

Vermont CPA Exam Requirements

Eligibility Requirements
Fees
Required Documents

Vermont CPA License Requirements

Education Requirements
Exam Requirements
Experience Requirements
Ethics Requirements

Continuing Professional Education (CPE)

Vermont Exam Information & Resources

Vermont CPA Exam Requirements

The CPA Exam is a computerized series of tests that you must pass to be qualified for accounting licensure. The American Institute of Certified Public Accountants (AICPA) conducts the exam in partnership with the National Association of State Boards of Accountancy (NASBA) and the state boards.

It analyses the level of your skills and technical knowledge required to become a future CPA. Candidates must pass all four sections within the rolling 18-month testing period, starting from the date of passing the first exam section.

The passing score for each four-hour-long section is at least 75 points.

Auditing & Attestation (AUD exam)
Financial Accounting & Reporting (FAR exam)
Business Environment & Concepts (BEC exam)
Regulation (REG exam)

All of the sections include five testlets consisting of multiple-choice questions and simulations. However, only BEC contains an extra question type, namely, written communications.

Eligibility Requirements

All Vermont CPA exam applicants must:

Have a good moral character
Possess at least 120 semester hours (bachelor’s degree) with 30 semester hours in accounting and business, consisting of
- 6 semester (9 quarter) hours in financial or managerial accounting (except introductory accounting)
- 3 semester (4.5 quarter) hours each in auditing, U.S. taxation, and U.S. business law.

Apply for the exam online through CPA Examination Services (CPAES). For the detailed procedure, please check out its official portal. You may also avail of the NASBA Advisory Evaluation to pinpoint any academic inadequacy in your transcripts. The deadline for fulfilling the requirements and submitting the documents is as follows:

Particulars	Deadline
Education requirements	Must be met at the time of application or within 60 days after CPAES receives the application
Documents submission (requirements met at the time of application)	Within 45 days of submitting the application
Final official transcript submission (requirements not met at the time of application)	Within 120 days after CPAES receives the application

Fees

First-time applicants:

Particulars	Amount	Total Fees
Application Fee	-	$170
Examination Fees	-	-
AUD	$238.15
BEC	$238.15
FAR	$238.15
REG	$238.15	$952.6
Total Fees	-	$1,122.6

Re-examination candidates:

Particulars	Amount	Total Fees
Application Fee	-	$85
Examination Fees	-	-
AUD	$238.15
BEC	$238.15
FAR	$238.15
REG	$238.15	$952.6
Total Fees	-	$1,037.6

Submit the fees at the time of application or registration. Also, attempt the applied section(s) within six months (Notice-to-Schedule expiry period).

Please note that applicant can’t withdraw or request a Notice-to-Schedule extension. However, they may request partial exam fee refund or an NTS extension in extreme conditions.

Required Documents

Candidates must submit these documents to the CPAES:

Required documents	Submission
Original official school transcripts (may be submitted electronically)	School
Certificate of Enrollment (if applicable)	You/School
International Evaluation Summary (if applicable)	You/Evaluation agency
Testing Accommodations Request Form (if applicable)	You

Educational credentials from a non-U.S.-based institution must be evaluated by

NASBA International Evaluation Services (NIES), or
National Association of Credential Evaluation Services (NACES)

Know that photocopies of transcripts are unofficial and unacceptable.

Vermont CPA License Requirements

Vermont CPA applicants must fulfill the 4 E’s:

Education – Complete 150 semester hours or more
Exam – Score a minimum of 75 points in each section
Experience – Obtain one year of relevant work experience
Ethics – Pass the self-study course with at least 90%

The U.S. jurisdiction does not have any minimum age, citizenship, or residency requirement. However, you must have a valid SSN.

Ensure to submit the CPA licensure application with the required fees ($100) and documents to Vermont State Board. Kindly visit the state board website to know the complete process.

Education Requirements

Candidates must fulfill 150 semester hours with,

A baccalaureate degree from a board-approved institute
At least 42 semester hours of accounting, auditing, and related subjects.

Please note that the initial 120 hours are to sit for the CPA exam. Hence, the extra 30 semester hours are required for successful licensure. Refer to the Eligibility Requirements section for more details.

Vermont CPA License Education Requirements

Exam Requirements

Vermont CPA aspirants must pass all four sections of the Uniform CPA Exam within the rolling 18-month period. Each of the four exam sections has a passing score of 75 points. Go to the Vermont CPA Exam Requirements section for further information.

Experience Requirements

You must gain one year (2080 hours) of public or equivalent non-public accounting experience under the supervision of an actively licensed CPA. Obtain the required experience within four years before sitting for the CPA exam or four years after taking it. Click here to know the required type of services in detail.

Ethics Requirements

You must complete a course in professional ethics for accountants within two years of the licensure application date. The course must be equal to eight CPE hours. Also, it must detail the AICPA Code of Conduct or Vermont Accountancy Statutes and Rules.

Continuing Professional Education (CPE)

Vermont CPAs must gain at least 80 CPE credit hours every two years. Furthermore, Vermont accepts credits for programs provided by the NASBA National Registry of CPE Sponsors.

Let’s check out all the details here.

Particulars	Requirements
License renewal date	July 31 (odd years)
CPE reporting period	August 1-July 31 (Biennially on odd years)
Required CPE hours	80 hours every 2 years
Ethics requirement	4 hours
Other Subject Area Requirements	8 hours in accounting & auditing
Credit limitations	Instruction	Maximum 50%
Published materials	Maximum 25%
Credit calculation	Instruction	Credit = Presentation + Preparation (up to 2 times presentation)
Partial Credit	Only whole hours
University/College	1 Semester Hour = 15 CPE hours
1 Quarter Hour = 10 CPE hours
Other State Policies	Maximum 10 carryover hours allowed (can’t be used to meet accounting and auditing or ethics requirements)

With no restrictions on age or residency, Vermont is a relatively easy state to apply for a CPA license. So, if you aspire to be at the top of the accounting profession, fulfill all the Vermont exam and license requirements and grab your CPA license right away! Practicing as a CPA in “The Green Mountain State” will undoubtedly be rewarding and fun.

Meanwhile, keep yourself updated about the rules and regulations with the Vermont State Board website. You may also contact AICPA, NASBA, or the Vermont State Board of Accountancy for any query or assistance.