How are U.S. CPA designations awarded?

In the USA, CPA designations are awarded by 54 separate jurisdictions. Each of these jurisdictions determines its own qualification requirements for granting a CPA designation. In general, a CPA candidate must pass a qualifying exam, as well as meet certain qualification requirements with regard to education and work experience. Many Canadian accountants already meet the education and work experience requirements of most jurisdictions. All 54 jurisdictions recognize passing the U.S. Uniform CPA Exam as satisfying the exam qualification requirement.

What is the U.S. Uniform CPA Exam?

The U.S. Uniform CPA Exam is set by the American Institute of Certified Public Accountants ("AICPA"). It is commonly viewed as the final exam required in order to qualify for a CPA designation. The exam is set nationally and the questions are the same regardless of the state in which it is written.

Who can write the U.S. Uniform CPA Exam?

To write the U.S. Uniform CPA Exam, a CPA candidate must apply to one of the 54 state boards of accountancy. Each of the 54 separate jurisdictions, which are comprised of the U.S. states and territories, sets its own qualification requirements. These qualification requirements pertain primarily to a CPA candidate's education and work experience.

For the education requirement, most jurisdictions require a four-year bachelor degree with a concentration in accounting. Accredited universities and colleges outside the U.S. are recognized.

Some states do not require any work experience, but those that do generally require from 1 to 4 years. Some of the states which require work experience will accept experience outside of public accounting and/or experience obtained in Canada.

Canadian accountants should note that approximately half of the 54 jurisdictions require that their exam candidates either reside or work within that jurisdiction or hold U.S. citizenship. See Jurisdictions that do not have Citizenship or Residency Requirements for a list of states which do not have this requirement.

What is the deadline for applying for the November 2000 Exam?

The application deadline for the November exam is August 1, 2000 in some U.S. states and September 1, 2000 in other states. However, we urge participants to apply as soon as possible in order to allow enough time for the evaluation of academic transcripts. All participants in our 6-Day Program are supplied with complimentary exam application materials and instructions.

What is the fee for writing the November 2000 Exam?

The fee for writing the 2000 Exam varies from state to state. On average, candidates can expect to pay about US$250. The exam fee must accompany the completed exam application form.

How can I find out more about the States' qualification requirements?

If you would like a summary of the qualification requirements of the 54 jurisdictions. We recommend the Digest of State Accountancy Laws and State Board Regulations, Updated Edition (1998). This book is published jointly by the AICPA and NASBA and contains approximately 200 pages of very useful information for exam candidates. It can be purchased for around $30 US by contacting the AICPA at 1-800-862-4272.

Alternatively, registrants in our 6-Day Program can visit our participants area to review the qualification requirements of the more popular states and to download their exam applications at no charge.

Selecting a State and going through the CPA qualification process alone can be very confusing and time consuming; especially for Canadian accountants that have never dealt with the bureaucracy of the state boards. Once you have registered in our 6-Day Program, we will personally counsel you through the qualification process and help you determine, based on your qualifications, with which state you should register ... at no extra charge! In addition, all participants in our 6-Day Programs are supplied with complimentary exam application materials and instructions.

Which State should I apply to?

Not all exam candidates want to spend the time to consider the different state alternatives. Therefore, unless an individual participant plans to relocate to a specific U.S. state and intends to practice public accounting in that state, we advise students to take the exam as a Delaware candidate. The state of Delaware does not require residency or public accounting experience for a CPA certificate. Delaware also offers the flexibility to take the exam in a number of states, allowing candidates to sit the exam in a state closer to home, thereby saving unnecessary travel and expense. Delaware's application deadline for the November 1-2, 2000 Uniform Exam is August 15, 2000 for candidates writing the exam in Delaware and August 1, 2000 for candidates who wish to write the exam in another state. All participants in our 6-Day Program will be mailed complimentary application materials for Delaware. Alternatively, registered participants can visit our participants area to download their Delaware exam application immediately at no charge.

When and where is the U.S. Uniform CPA Exam offered?

The exam is offered in May and November on the first Wednesday and Thursday of the month. The next exam will be held on November 1 and 2, 2000. The exam may be written in any of the 54 U.S. states and territories. The exam cannot be written in Canada. Canadian accountants should note that candidates do not necessarily have to write the exam in the state through which they have registered. Since the exam is set and marked nationally, some jurisdictions will allow out-of-state candidates to write in another state that is more convenient.

What is the structure of the U.S. Uniform CPA Exam?

The exam is written over two days and consists of four papers. Each of the four papers is marked independently and is graded out of 100. A passing score is set at 75. In most states, first time writers must attempt all four papers. However, candidates are not required to pass all four papers at one sitting. In general, most states will grant partial credit to candidates who pass at least 2 of the 4 papers and obtain a score of at least 50 on the remaining 2 papers. Thus, only the two remaining papers would need to be rewritten at a future sitting. Quebec candidates should note that the exam is only offered in English.

Through the course of our 6-Day Program, we will review approximately 500 exam questions to ensure that all course participants understand the technical material being presented and how to apply it in an exam situation.

Since there are many different types of exam questions (multiple-choice, other objective type, and essays), our program includes a one-day exam-writing workshop on the 6th day. During this exam-writing workshop, you will have the opportunity to attempt all the various types of questions under exam conditions; learn how the essay questions are graded; be given hints and tips as to what the exam markers are looking for in a "good" answer; and learn how to best study the technical material to prepare for the various types of exam questions. Look at our program schedule for a summary of the topics covered throughout the course.

Can copies of previous U.S. Uniform CPA Exams be purchased?

As of May 1996, the U.S. Uniform CPA Exam became a closed exam. Therefore, neither questions nor solutions are published for the May 1996 or later exams. Copies of earlier exams can be purchased from the AICPA. However, we recommend that you do not purchase copies of these exams. Our 6-Day Program includes all required study materials, at no extra charge. Our materials include more than 2,500 practice exam questions and solutions. Our questions include both actual exam questions, tested prior to the May 1996 exam, and "mock" exam questions which we have prepared. Every six months we have all of our questions and solutions reviewed and updated, by a team of university professors from across the U.S., to reflect the most recent changes in tax law, accounting pronouncements and other legislative changes tested on the exam. Therefore, no additional exam materials need to be purchased. Our study materials also include practice exams with complete solutions, supplementary textbooks and our own highly acclaimed IAS Study Binders.

What are the questions like?

To try some sample exam questions, try your hand at our mini-exams.

What makes your 6-Day Program different from other prep courses?

1) Our Instructor: For the last 11 years, Jim Knafo has been helping hundreds of accountants across North America to pass their final exams. Mr. Knafo is a professional exam-grading specialist and has been involved in the marking of thousands of actual final examinations for those exams' governing bodies.

In 1998, in recognition of his unique expertise and qualifications, Olivia F. Kirtley, Chair of the AICPA Board of Directors, appointed Mr. Knafo to the AICPA's International Qualifications Appraisal Board (IQAB). Mr. Knafo is the only Canadian on the IQAB. The Board works cooperatively with NASBA, the governing body which administers the U.S. CPA exams, to identify the differences between the qualification requirements of professional accountants in the United States and those of other countries, including Canada.

2. Our Service Guarantee: Our programs provide the comprehensive service that busy professionals have come to expect from IAS. Our programs are more than just a prep course. We help our participants through every stage of the exam process: before, during and after the course. We're with you every step of the way!

3. Our Course Materials: There are several other organizations which offer preparatory courses for this exam. Often times, these organizations simply take courses that were developed for American students and repackage them for the Canadian "market". However, that "repackaging" fails to consider the distinct educational background of Canadian and American accountants. Our course, on the other hand, has been specifically designed for Canadian accountants by Mr. Knafo who, as both a Canadian CA and U.S. CPA, is clearly aware of those areas in which Canadian accountants should concentrate their efforts.

In fact, prior course participants tell us that not only did our IAS Study Binders help them to study effectively and efficiently, but that they also significantly reduced the time they would have otherwise spent preparing for the exam.

4. Our Pass Rates Speak for Themselves: Our 6-Day Program has the highest pass rate of any CPA prep course in Canada!