Introduction

Connecticut’s geographic position in between New York and Boston places it at the heart of one of the most profitable business corridors in the world. The Nutmeg State is home to 655 CPA firms including offices for each of the “Big Four” international accounting firms — Deloitte & Touche, KPMG, Pricewaterhousecoopers and Ernst & Young.

The majority of the state’s more than 16,000 accountants and auditors are employed by CPA firms, financial services agencies and insurance companies. Connecticut’s economy is much bigger than its geographic size might suggest; the state has the 23rd largest state economy in the nation, boasts a per capita GDP of over $65,000 and is home to the third highest number of millionaires per capita in the U.S.

Connecticut at a glance

Population 3,596,677
Per Capita Income $58,908
Unemployment Rate 6.4%
Fortune 500 Companies 15
Licensed CPA Firms 655

Accounting Programs in Connecticut

Search our comprehensive school directory to explore the accounting programs in Connecticut, including campus-based, online and hybrid programs.

Accounting Salaries and Employment

The BLS expects Connecticut to add CPAs at the rate of 11.4% between 2012 and 2022, increasing the number of licensed CPAs in the state by about 2,000. Connecticut accountants and auditors outearn the national average by more than $3,100 per year with a mean income of $77,000.

Two of the five largest accounting firms in the state are major regional players; the firms, Blum Shapiro and Cohn Reznik, employ more than 200 state CPAs. As a result, of a 2009 merger with NCNP Connecticut’s own Blum Shapiro became one of the 100 largest accounting and auditing firms in the country.

Projected Job Growth for Accountants

16,190 Employees2012
18,020 Employees2022
Connecticut 10.2% increase
1,275,400 Employees2012
1,442,200 Employees2022
United States 11.6% increase
Source: U.S. Department of Labor

Accounting Salaries by Specialty

Connecticut Avg. Annual Wage United States Avg. Annual Wage

Associate Degree Recommended

Bookkeeping and Auditing Clerks

\ $43,300
$37,250

Payroll Clerks

\ $45,820
$39,850

Credit Counselors

\ $48,980
$44,960

Bachelor's Degree Recommended

Cost Estimators

\ $74,580
$63,660

Tax Examiners and Collectors

\ $78,020
$56,120

Master's Degree Recommended

Accountants and Auditors

\ $77,020
$72,500

Budget Analysts

\ $78,520
$72,560

Personal Financial Advisors

\ $134,570
$99,920

Actuaries

\ $115,880
$107,740

Financial Managers

\ $140,980
$126,660
Source: BLS OES

Top-paying cities for accountants

  1. Bridgeport-Stamford-Norwalk
    $84,660
  2. New Haven
    $74,060
  3. Danbury
    $73,720
  4. Hartford-West Hartford-East Hartford
    $73,630
  5. Waterbury
    $67,130
Source: OES Data Tool

Major firms headquartered in Connecticut

Count Firm Location 2014 Revenue (in millions)
1BlumShapiroWest Hartford, CT$61
2Whittlesey & HadleyHartford, CT$15

Accounting Today named these firms among the highest performing in a multi-state region. Rankings as based upon reported net revenues from 2014. Source: Accounting today "Top 100 Firms"

Becoming a certified public accountant (CPA) in Connecticut

As in all states, aspiring accountants in Connecticut must sit for and pass the Uniform CPA Exam administered by the National Association of State Boards of Accountancy (NASBA). Candidates must also meet the other requirements delineated by the NASBA and the Connecticut State Board of Accountancy.

Since not all CPA candidates pass the Uniform CPA Exam in its entirety on their first attempt, the state of Connecticut allows applicants to retake portions of the test within 18 months of their initial attempt. Currently licensed CPAs who wish to maintain their licenses must meet the state’s continuing professional education (CPE) requirements annually.

Eligibility for CPA Licensure in Connecticut

To qualify for the right to sit for the Uniform CPA Exam prospects must meet the following minimum standards:

  • 150 hours of post-secondary education, including 36 hours of accounting-specific coursework
  • Posses a minimum of a bachelor’s degree
  • Two years of work experience verified by an active license CPA
  • Attain 18 years of age

Connecticut allows CPAs who have been licensed by other states to transfer their active license to Connecticut regardless of whether they meet the state’s current licensure requirements. CPA candidate in Connecticut must also take and pass the AICPA Ethics Examination before a license can be issued.

Age RequirementNone
Citizenship RequirementNo
Residency RequirementNo
Social Security # RequirementYes
Education Requirement for Licensure150 hours (including bachelor's degree)
Participates in International ProgramsYes
Hours in Accounting36 semester hours or equivalent quarter hours in accounting
Exam Sitting RequirementsBachelor's degree (120 hours)
Experience Requirements2 year general requirement in public practice, government or industry.
Ethics ExamMust pass AICPA Ethics exam for initial licensure

CPA candidates who were educated outside of the United States must have the credential verified by a member of NACES (National Association of Credential Evaluation Services).

Source: The American Institute of CPAs

CPA exam fees in Connecticut

Total:$863
  • Application Fee $135
  • Auditing & Attestation $192
  • Financial Accounting & Reporting $192
  • Regulation $172
  • Business Environment & Concepts $172

CPA Candidates who did not pass all four parts of the Uniform CPA Exam on their first attempt may apply to re-take one or more sections again. A re-examination fee is required with application.

Source: Connecticut State Board of Accountancy

Schools Ranked by CPA Pass Rates, 2014

RankLogoSchool NameCandidatesPass RateAverage Score

Schools are ranked by pass rate unless otherwise noted. Results are comprised of scores from both first-time test takers and those returning to take the whole exam or specific sections of it again. Source: National State Boards of Accountancy

Certifying and Professional Organizations

CPA licensing in Connecticut is administered by the State Board of Accountancy which resides within the Connecticut Secretary of State’s office. The state board is responsible for issuance of new licenses, renewals and inter-state transfers. License requirements and accountancy rules and regulations may be found on the State Board of Accountancy website. The board does not provide or administer any of the testing required for licensing. Test administration is done by the AICPA and the NASBA.

The Connecticut Society of Certified Public Accountants (CTCPA) is the primary professional membership organization for CPAs in the state. Membership is voluntary and benefits include continuing professional education opportunities and professional advocacy support.

Connecticut Board of Accountancy

Address

30 Trinity Street
Hartford, CT 06106

Phone Number

(860) 509-6179

Connecticut Society of CPAs

Address

716 Brook Street Ste. 100
Rocky Hill, CT 06067

Phone Number

1-860-258-4800