Cpa Exam Requirements

 

 US States Cpa Requirements

CPA requirements in New Mexico  

A CPA needs to have a broad range of knowledge in accounting matters such as taxation and general business practice. In New Mexico, the state board has set certain requirements for obtaining a license to practice in the state. Students have to earn 150 credit hours in their education to earn a CPA license in New Mexico. Students holding a bachelor degree with accounting course can sit for the CPA exam in New Mexico. The state requires CPA students to have1 year of work experience from a public or a nonpublic accounting firm verified by an active US CPA. CPA exam students must fulfill certain qualification and requirements to be eligible to attend the exam. There is no need for students to hold US residency and state residency to sit for the exam. The minimum age requirement for students is 18 years.  

Education Requirements 

The first step to get the CPA license in New Mexico is to meet the education requirement. Candidate must have a bachelor degree or higher with 30 semester units in accounting courses and and 3 semester units in a business law course. The bachelor degree has to be earned from an accredited university or college. Before sitting for the CPA exam in New Mexico, the candidate to get CPA license,  has to submit an application to test the public accountancy board. Through reviewing your educational credentials, the board will send information to candidates regarding their eligibility to attend the exam and other relevant matters.  

Exam fees 

The exam fees for all four sections of the CPA exam in New Mexico is $743 plus the application fees $155. The re-examination registration fees varies depending upon the number of the sections students may choose to retake. The auditing and attestation fees are $195.35 and the business environment and concept fees are $176.25. The fees for financial accounting and reporting is $195.35 and for regulation the fees are $176.25. Students should not apply and pay for the exam sections that will not be taken within a 6 month period because the notice to schedule in New Mexico expires 6 months after issuance.  

CPA License Requirements 

Students must complete 150 semester hours of their education from an accredited university to obtain a CPA license. You must have 1 year of public or nonpublic accounting  work experience supervised and verified by an active CPA. The work experience verified by a chartered accountant outside US is not accepted. The relevant work experience must include 2,000 hours between one and three years of practice. The board will count experience obtained in last seven years before applying for a license. The candidate must pass all the four sections of the CPA exam with a score 75% or higher. The state board requires candidates to pass AICPA ethics exam with at least 90%. The New Mexico CPA society will provide information regarding obtaining materials. The state will check criminal history and moral character of students, so applicants have to submit character references.  

Out of State Candidates 

Candidates who have taken the CPA uniform exam from another state but has not yet obtained licenses and wishes to do so in New Mexico has to submit a proof of current residency in the state. Already licensed applicants doesn’t need to have New Mexico residency. Applicants educated outside US has to submit transcript for evaluation and those who are looking to transfer their license to New Mexico has to contact the public accountancy board for specific requirements. The requirements may vary depending up on the initial license received from the place at that time.

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