Puerto Rico Cpa Exam License Requirements 2022

Puerto Rico CPA Exam

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The Island of Enchantment observes the one-tier licensing method. It means that you can straightaway acquire the CPA license after satisfying the licensing requirements. This method forgoes the need to obtain the CPA certificate before applying for the license.

Please note that the Puerto Rico Board of Accountancy is accountable for licensing CPAs in Puerto Rico. The National Association of State Boards of Accountancy (NASBA) offers licensing services to the state.

The state also participates in the administration of the International CPA Examination Program. Hence you can establish your eligibility through Puerto Rico to take the exam outside of the U.S. Now, let’s take an in-depth look at the Puerto Rico CPA Exam and License Requirements.

Contents

Puerto Rico CPA Exam Requirements

Eligibility RequirementsFeesRequired Documents

Puerto Rico CPA License Requirements

Education RequirementsExam RequirementsExperience Requirements

Continuing Professional Education (CPE)

Puerto Rico Exam Information & Resources

Puerto Rico CPA Exam Requirements

CPA ExamCPA ExamA Certified Public Accountant (CPA) is a US state board-issued license to practice the accounting professionread more is a computer-based string of tests divided into four sections. Each section is a 4-hour long assessment with a passing score of 75. It is developed to confirm that only qualified professionals gain the CPA license.

Ensure to pass the licensure test within the rolling 18-month period. This timespan begins from the date you attempted the first passed exam section.

Here is all you need to know.

Eligibility Requirements

General requisites:

American Institute of Certified Public Accountants (AICPA)
National Association of State Boards of Accountancy (NASBA)
Prometric
Multiple-choice Questions & Task-based Simulations (AUD, BEC, FAR, & REG)
Written Communications (BEC)
At least 21 years of age at the time of certificationA resident of/place of business in Puerto Rico (for both initial & re-exam applicants)

Educational requisites:

150 semester (225 quarter) hours of college-level education with,

At least a bachelor’s degree32 semester (48 quarter) hours in accounting32 semester (48 quarter) hours in accounting and general business, including information systems, finance, business law, and economicsAt least 2.0 GPA

Non-U.S. citizens must submit statements of intention to attain citizenship with their application.

Candidates in their final semester for completing the required education must earn 32 semester (48 quarter) hours in accounting with at least a 3.0 GPA before submitting the exam application.

Apply for the test through CPA Examination Services (CPAES) along with the required fees and transcripts. Please visit the NASBA official portal to know the complete process. Furthermore, avail the NASBA Advisory Evaluation service to recognize any educational flaw in the documents.

Fees

Initial applicants:

Re-exam candidates:

Candidates can’t withdraw from the exam or request a Notice-to-Schedule (NTS) extension. However, they may request a partial exam fee refund or an NTS extension in extraordinary conditions. So, always apply for section(s) that you can take with the next six months (NTS expiry period).

Required Documents

You must submit the below-mentioned documents to CPAES:

Please note that the photocopies of transcripts are unacceptable. Moreover, CPAES must receive these documents within 45 days of applying. Or else, you will have to re-apply.

Puerto Rico CPA License Requirements

After passing all the CPA exam sectionsCPA Exam SectionsThe Uniform Certified Public Accountant (CPA) Exam comprises four sections, namely, Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). The unique content, structure, format, and scoring of the CPA exam earn it the title of one of the most challenging professional exams. read more within 18 months, the next step is to fulfill other requirements for claiming your Puerto Rico license. Let’s view the Puerto Rico CPA licensure essentials:

Submit your CPA licensure application, documents, and fees through the NASBA Online Licensing Application System. Further details are specified on the website.

Education Requirements

Candidates must hold a bachelor’s degree from a nationally or regionally authorized institute. In addition, ensure to earn at least 150 semester hours with a minimum of 2.0 GPA in accounting and business courses. For more information, kindly check the Eligibility Requirements section.

Exam Requirements

Applicants must pass the CPA exam within the rolling 18-month period. All four exam sections have a passing score of at least 75 points. Furthermore, you may visit the Puerto Rico CPA Exam Requirements section for more details.

Experience Requirements

Puerto Rico CPA licensure applicants must gain one year of full-time or three years of part-time work experience. It includes at least 1820 qualifying hours in public accounting, industry or private practice, or academia. Also, ensure to get it verified by a CPA in good standing.

Continuing Professional Education (CPE)

Puerto Rico requires you to renew your CPA license every three years. CPA practitioners must complete 120 CPE credit hours. At the same time, non-practitioners must obtain 90 credit hours for license renewal.

Here are the complete details.

Satisfying the pre-requisites mentioned above will get you the Puerto Rico CPA license. Note that Puerto Rico has no ethics exam or additional educational requirements to obtain a CPA license. Hence, it is relatively easy to earn a reputed license on the Caribbean Island.

Approved by Puerto Rico Board
Approved by NASBA National Registry of CPE Sponsors
Offered by Puerto Rico CPA Society
Offered by AICPA
Offered by organizations especially approved on a request basis from the State Board
28 hours in accounting & auditing and 12 hours in tax, or
28 hours in tax and 12 hours in accounting & auditing
Maximum 60% of total hours
Full credit for NASBA’s Quality Assurance Services (QAS) approved courses
Half-credit for non-Quality Assurance Services (QAS) approved courses

Congratulations to those who managed to pass all hurdles and now hold the prestigious license! However, ensure to sustain it by fulfilling the CPA CPE requirementsCPA CPE RequirementsAs a Certified Public Accountant (CPA), you need to acquire Continuing Professional Education or CPE credits for sustaining your license. This ensures that you are actively involved in improving your know-how of the profession by engaging in learning activities.read more.

Puerto Rico Exam Information & Resources

Puerto Rico Board of Accountancy (https://www.estado.pr.gov/en/authorized-public-accountants/)

Physical Address:

Board of Examiners of Certified Public Accountants

Administración de Terrenos Building

Chardón Ave. #171 3er Floor

San Juan, PR 00918-0903

Postal Address

Department of State

Assistant Secretary of Examination Boards

P.O. Box 9023271

San Juan, PR 00902-3271

Phone 629-203-1992

Puerto Rico CPA Society (https://www.colegiocpa.com/)

Capital Center Bldg. I239 Arterial Hostos, Suite 1401San Juan, PR 00918-1400

Ph: (787)622-0900

1-800-981-9942

Puerto Rico Department of Labor & Human Resources (https://www.trabajo.pr.gov/)

505 Building Prudencio Rivera MartínezAve. Muñoz RiveraHato Rey, PR 00918