Introduction

Over 855 licensed CPA firms service the six and a half million residents of the state of Indiana. Seven Fortune 500 companies and all of the “Big Four” international CPA firms (Deloitte & Touche, KPMG, Pricewaterhousecoopers and Ernst & Young) maintain offices throughout the state.

Annually, Indiana’s manufacturing-based economy generates approximately $214 billion dollars in gross state product, employs a labor force of 3,144,700 and results in a per capita income of $36,902. This complex state economy produces and trades in steel, rubber, coal, pharmaceuticals, automobiles and more; prospective financial service specialists in the state have a number of sectors to choose from.

Indiana at a glance

Population 6,596,855
Per Capita Income $36,902
Unemployment Rate 5.8%
Fortune 500 Companies 7
Licensed CPA Firms 855

Accounting Programs in Indiana

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

Accounting Salaries and Employment

Accountants and auditors in the state of Indiana can expect to see a 12% increase in employment opportunities by 2022, that’s compared to an average national growth rate of just over 13%. Potential employers include Blue & Co.† which grossed $61.51 million in 2014, and Kemper CPA Group which generated $35.48 million in revenue last year.

Indiana firms will employ close to 22,000 accountants within the next seven years. Hoosiers can expect to earn anywhere between $35,120 and $104,060 working in accounting services in the state — earning power is heavily contingent upon licensure, speciality and degree level.

Projected Job Growth for Accountants

19,560 Employees2012
21,900 Employees2022
Indiana 10.7% increase
1,275,400 Employees2012
1,442,200 Employees2022
United States 11.6% increase
Source: U.S. Department of Labor

Accounting Salaries by Specialty

Indiana Avg. Annual Wage United States Avg. Annual Wage

Associate Degree Recommended

Bookkeeping and Auditing Clerks

$35,120
$37,250

Payroll Clerks

$38,050
$39,850

Credit Counselors

$40,600
$44,960

Bachelor's Degree Recommended

Cost Estimators

$61,960
$63,660

Tax Examiners and Collectors

$51,520
$56,120

Master's Degree Recommended

Accountants and Auditors

$65,890
$72,500

Budget Analysts

$63,730
$72,560

Personal Financial Advisors

$103,720
$99,920

Actuaries

$93,320
$107,740

Financial Managers

$104,060
$126,660
Source: BLS OES

Top-paying cities for accountants

  1. Bloomington, IN
    $74,280
  2. Indianapolis-Carmel, IN
    $70,030
  3. Elkhart-Goshen, IN
    $65,790
  4. Fort Wayne, IN
    $65,300
  5. South Bend-Mishawaka, IN-MI
    $64,450
Source: OES Data Tool

Major firms headquartered in Indiana

Count Firm Location 2014 Revenue (in millions)
1Blue & Co.Carmel, IN$62
2Kemper CPA GroupGreenfield, IN$35

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 Indiana

Potential CPAs of Indiana sit for the Uniform CPA Exam administered by NASBA and must meet the eligibility requirements listed below. A number of colleges and universities in the state have accounting programs with top passing rates. The rates below include both first time testers and candidates returning to attempt the exam again, as is common for many students.

Indiana offers an optional pre-evaluation service to help students determine if they meet the educational requirements before applying for the exam. Indiana recognizes CPA mobility legislation as well as obtaining a license by transfer.

Those who become certified and later wish to maintain their license without practicing may apply for an inactive renewal, which exempts them from the CPE requirements.

Eligibility for CPA Licensure in Indiana

To be eligible to sit for the NASBA Uniform CPA Exam in Indiana, candidates must meet the following requirements:

  • Have earned 150 semester hours of CPA Exam Services approved credit hours
  • Hold a baccalaureate degree
  • Have completed 24 credit hours of undergraduate accounting courses or 15 hours of graduate accounting courses
  • Be a minimum age of 18 years
  • Participate in 2 years of academia, government, industry or public practice experience
Age Requirement18
Citizenship RequirementNo
Residency RequirementNo
Social Security # RequirementYes
Education Requirement for Licensure150 hours (including a bachelor's degree)
Participates in International ProgramsYes
Hours in Accounting24 semester hours or equivalent quarter hours in undergraduate accounting or 15 semester hours or equivalent quarter hours in graduate level accounting or an equivalent combination of both
Exam Sitting Requirements24 semester hours or equivalent quarter hours in undergraduate accounting or 15 semester hours or equivalent quarter hours in graduate level accounting or an equivalent combination of both
Experience Requirements2 years experience in government, industry, academia or public practice.
Ethics ExamNo ethics exam

Candidates ready to sit for the Uniform CPA Exam in Indiana should refer to this License Packet to ensure they have the proper paperwork and have fulfilled the necessary requirements to sit for the exam.

Source: The American Institute of CPAs

CPA exam fees in Indiana

Total:$892
  • Application Fee $150
  • Auditing & Attestation $195
  • Financial Accounting & Reporting $195
  • Regulation $176
  • Business Environment & Concepts $176

Special Fees: A registration fee applies in addition to the application fee, and varies depending on the number of sections an individual is taking. The registration fee for all four sections is $110, for three is $95, for two is $85 and for one section is $70.

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

The Indiana Board of Accountancy’s Professional Licensing Agency provides professionals the opportunity to update, renew, order or print any license. Consumers are able to search and verify licenses and digitally certify a license. The Board, however, does not provide CPA Exam scores, as the exam is administered by the National Association of State Boards of Accountancy (NASBA).

Once licensed, Indiana CPAs can join the Indiana CPA Society, which represents professional CPAs and strives to enhance and improve the success, ethical standards and professionality of its members.

Indiana Board of Accountancy

Address

402 West Washington St., Room W072
Indianapolis, IN 46204

Phone Number

(317) 234-3050

Indiana CPA Society

Address

8250 Woodfield Crossing Blvd #100
Indianapolis, IN 46240

Phone Number

(317) 726-5025

Email

apaul@incpas.org