CPA Exam: Background First administered in 1917. CPA exam is uniform in all 50 states and is administered by individual State Boards of Accountancy. Approximately 100,000 candidates sit for the CPA Exam each year. In 1996 the exam became a closed exam.
CPA Exam: Prerequisites Prerequisites vary from state to state. Idaho prerequisites: 150 credit hours to receive certificate, however, do not need 150 credit hours to sit for exam. Minimum degree required: Baccalaureate 30 semester hours in business administration subjects, of which 20 semester hours in the study of accounting subjects Minimum age requirement: 18
CPA Testing Schedule January – February April- May July-August October- November
CPA Exam: Cost Costs vary from jurisdiction to jurisdiction. The average cost for the exam is $575 to $800. Idaho exam fees: Initial Application Fee:$100 Audit:$207.15 Financial:$207.15 Regulation:$185.10 Business:$185.10 Total:$884.50
The CPA Examination Computer-based Keyboard with numeric keypad, Mouse Four sections taken separately Auditing & Attestation (4 hours) Financial Accounting & Reporting (4 hours) Regulation (3 hours) Business Environment and Concepts (3 hours)
Auditing and Attestation Section Four hour testing time Passing score is 75 on a 0-99 scale 90 multiple-choice questions Three testlets (approx. 30 questions each) 7 short Task-Based Simulations 1 Research question
Auditing & Attestation Exam Content 12-16% engagement acceptance and planning 16-20% entity and internal control 16-20% procedures and evidence 16-20% audit findings, communications, and reporting 12-16% review services engagements 16-20% professional responsibilities
Idaho Requirements for Licensure Pass the CPA Exam Pass the Ethics Exam 150 Semester / 225 quarter credits Background Check Must be an Idaho resident 1 year / 2,000 hours of experience working under a licensed CPA