Vermont CPA requirements
Wondering how to become a CPA in Vermont? Your first step should be to check the Vermont CPA requirements, because Vermont will ultimately license you. This page serves as a resource for Vermont's CPA requirements and is current as of May 2022. Always consult with Vermont's Board of Accountancy for the most current information.
Vermont CPA Exam requirements
Getting a CPA in each state mandates different requirements for the CPA Exam. In order to be eligible for the CPA Exam, the state requires candidates to meet certain Vermont CPA Exam requirements, including:
Eligibility for Examination
Minimum education requirement
As a first-time or re-examination applicant, you must:
- Be of good moral character; and
- Have earned a minimum of 120 semester hours of general college level education with 30 semester hours in accounting and business including:
- 6 semester (9 quarter) hours of financial and/or managerial accounting (excluding Introductory Accounting)
- 3 semester (4.5 quarter) hours of auditing,
- 3 semester (4.5 quarter) hours of U.S. taxation,
- 3 semester (4.5 quarter) hours of U.S. business law
- Three semester hours in Ethics: business ethics, philosophical ethics or accounting ethics
- Commercial CPA review courses will not count towards your application.
- Courses of any sort and from any institution may count, provided that they transferred to a regionally accredited institution.
When you are within 60 days of completing a 120 semester hour baccalaureate degree, you may apply to sit for the CPA exam. Keep in mind that you will still need 30 hours to satisfy the education requirement, but Vermont allows you to begin taking portions of the exam prior to completion of your education.
All educational transcripts, Certificate of Enrollments, and/or foreign evaluations are required to be submitted to CPA Examination Services. You may submit official school transcripts, Certificate of Enrollments and/or foreign evaluations separately or included with first-time application.
Vermont CPA license requirements
In order to earn a certified public accountant license in Vermont, applicants must meet the following requirements:
Vermont, like many states, has four general areas that must be satisfied prior to licensure: Education, CPA Examination, Ethics and Experience. The Vermont Board of Public Accountancy does not require in-state residency, U.S. citizenship or 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. You might petition the Board if you do not have a SSN.
Vermont requires all CPAs to have 150 credit hours for full licensure, though you can sit for the CPA exam with only 120 semester hours, provided that you have matriculated with a bachelor’s degree. Your college must have been accredited by an agency recognized by the Board. The board will accept accreditation by an agency approved by the U.S. Department of Education or the Council on Postsecondary Accreditation.
Foreign credits are also accepted. If you attended university in Canada, your credit will be accepted from schools who are part of the Association of Universities and Colleges of Canada. For schools from any other country, your transcripts and credits must be evaluated by the National Association of Credential Evaluation Services (NACES) or by NASBA International Evaluation Services. Your completed evaluations need to be sent to:
CPA Examination Services
P.O. Box 198469
Nashville, TN 37219-8469
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.
Minimum experience requirement
- 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.
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.
Vermont CPA license renewals
Vermont CPAs must renew their license every two years.
As a condition of renewal of a license as a public accountant, the Board may require that the licensee establish that he or she has satisfied continuing education requirements established by Board rule.
If a licensee fails to renew within 10 years of the license lapsing, the licensee must file a new application for licensure and satisfy the initial licensure requirements of the Board in order to obtain a license.
Vermont CPA CPE requirements
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.