How to become a CPA in Kentucky?

The Kentucky Board of Accountancy handles the licensures procedures for all CPA licenses in Kentucky. Becoming a CPA in any state requires a CPA license. Without licensure, aspiring accountants can’t use the CPA designation or get high-level jobs. The board sets some requirements that require CPAs to go through three steps to become a CPA.

How to become a CPA in Kentucky?

Aspiring CPAs in Kentucky need to follow the Kentucky Board of Accountancy’s procedures set for CPA licensure. In the first step, they need to go through formal education and learn the fundamentals of accounting.

After that, they must prepare to take their Uniform CPA Exam. Lastly, they must work in a job that allows them to apply the education they received.

Once aspiring CPAs go through all these steps, they can apply to get their CPA license in Kentucky. During each of these steps, they must meet the requirements set by the Kentucky Board of Accountancy.

Educational Requirements

Obtaining formal education is compulsory for CPAs. This education allows aspiring CPAs to learn the fundamentals of accounting to help them later in their career. This education doesn’t have to be from a Kentucky university or college. However, it must come from an accredited university or college through an official accounting program.

Aspiring for CPAs who have obtained their formal education from universities outside the US, it is important to get their credentials evaluated. They must use a member agency of the National Association of Credential Evaluation Services to do so.

During their educational process, aspiring CPAs must meet the following requirements.

  • Aspiring CPAs must enrol in an accredited university or college in an accounting program. During this period, they must complete two requirements. These include 150 semester hours of college credit and also a bachelor’s degree.
  • During the 150 hours of education, they must ensure they complete the following requirements.
    • They must include 39 semester hours of courses in business. Of these, 27 semester hours must be in accounting courses. The rest may consist of subjects as below.
      • Business
      • Computers
      • Economics
      • Finance
      • Management
      • Marketing
      • Statistics

Uniform CPA Exam

Once aspiring CPAs go through their formal educational requirements, they must sit for the Uniform CPA Exam. Even candidates that have completed at least 120 semester hours of the required 150 can sit for the exam. However, they must have at least a bachelor’s degree. They must also go through the following process to sit for the exam.

  • Applicants must apply at the Kentucky State Board of Accountancy website for the Uniform CPA Examination.
  • They must include the following documents with their Kentucky Uniform CPA Exam application.
    • Official transcripts from the college or university they have attended. It must show that they have earned at least a bachelor’s degree in accounting.
    • A money order or check that is payable to the Kentucky State Board of Accountancy for the application and for each section of the exam. They may also need to pay fees for other bodies.
    • Signed and notarized exam application.
  • They must then wait to receive the Authorization to Test. They will also receive an invoice for their fees, which they must pay within 90 days.
  • They must also schedule their exam in one of the three approved locations after receiving their Notice to Schedule.

Experience Requirements

The last step is for applicants to go through a period of practical experience. As mentioned, they must meet the requirements set by the Kentucky Board of Accountancy for this period. These include the following.

  • Applicants must ensure they complete one year (or 2,000 hours) of experience. This experience must meet the following requirements.
    • It must be in academia, auditing, government, industry or public practice accounting.
    • For applicants who acquire their experience through academia, it is also mandatory to participate in 24 semester hours of teaching college accounting courses.
    • The experience must occur within five years of when they pass their Uniform CPA Exam.
    • The experience may come from under more than one employer.
    • It must be verified by a supervising licensed CPA. The board does not limit supervisors to Kentucky CPA licenses only.
  • Applicants must also ask their verifying CPA to complete a Certificate of Experience form. This form is to verify and document their experience.

Summary

Given below is a summary of how to become a CPA in Kentucky.

  • Aspiring CPAs in Kentucky must obtain a formal education. It must meet the requirements set by the Kentucky Board of Accountancy.
  • They must take their Kentucky Uniform CPA Exam next.
  • Once they do so, they must meet the Kentucky Board of Accountancy’s experience requirements.
  • Then, they can apply for their Kentucky CPA license.

References

  1. “Kentucky Board of Accountancy” – https://cpa.ky.gov/Pages/default.aspx
  2. “Exam Requirements” – https://cpa.ky.gov/examcandidates/Pages/Exam-Requirements.aspx
  3. “Initial License” – https://cpa.ky.gov/becomingcpa/Pages/Initial-License.aspx
  4. “Forms” – https://cpa.ky.gov/Pages/Forms.aspx
  5. “Kentucky | NASBA” – https://nasba.org/exams/cpaexam/kentucky/