Rhode Island Cpa Exam License Requirements 2022

Rhode Island CPA Exam

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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 ExaminationCPA ExaminationA Certified Public Accountant (CPA) is a US state board-issued license to practice the accounting professionread more 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.

Contents

Rhode Island CPA Exam Requirements

Eligibility RequirementsFeesRequired Documents

Rhode Island CPA License Requirements

Education RequirementsExam RequirementsExperience RequirementsEthics 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.

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:

6 semester hours in both fundamental accounting and intermediate financial accounting & reporting
3 semester hours each in advanced financial accounting & reporting, tax accounting, & auditing
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
At least 3 semester hours in both business law and economics

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 pin down 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.

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 fees 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.

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 residencyHold a valid Social Security NumberObtain 150 semester hoursPass each of the four CPA exam sections with at least 75 pointsGain at least one year of relevant work experienceScore 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 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 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.

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.

Congratulations to all the newly licensed CPAs in RI! Now, just ensure to renew the license every three years. Furthermore, consider joining 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 CPACPE Credits For CPAAs 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

Rhode Island Exam Information & Resources

Rhode Island Board of Accountancy (https://dbr.ri.gov/divisions/accountancy/)

1511 Pontiac Avenue

Cranston

RI 02920

Phone: (401) 462-9500

Fax: (401) 462-9532

Rhode Island Society of CPAs (https://www.riscpa.org/)

40 Sharpe Drive, Unit 5,

Cranston, RI 02920

Phone: 401-331-5720

Fax: 401-454-5780 faxEmail: [email protected]

Rhode Island Department of Business Regulation (https://elicensing.ri.gov/)

1511 Pontiac Avenue Cranston, RI 02920

Email: [email protected]

Phone: (401) 462-9559

NASBA (https://nasba.org/)

150 Fourth Ave. North

Suite 700

Nashville, TN 37219-2417

Tel: 615-880-4200

Fax: 615-880-4290

CPAES

1.800.CPA.EXAM

AICPA (https://www.aicpa.org/)

Phone number: 888.777.7077

220 Leigh Farm Road

Durham, NC 27707-8110

Fax server: 800.362.5066