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62 Alumni Dr
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The Green Mountain State of Vermont is the 6th smallest state in terms of area and the second least populous. Vermont is also the only New England state that does not have oceanfront real estate. Despite it’s proximity to New York and Boston, Vermont is largely rural. Its economy matches its size placing 44th in terms of per capita GDP.
The state has no Fortune 500 companies and its economy is powered largely by tourism. Vermont is home to 143 licensed CPA firms, including a satellite office of KPMG one of the Big Four international accounting firms.
|Per Capita Income||$42,994|
|Fortune 500 Companies||0|
|Licensed CPA Firms||143|
Search our comprehensive school directory to explore the accounting programs in Vermont, including campus-based, online and hybrid programs.
62 Alumni Dr
246 S. Willard St
71 Clement Road
1 Abenaki Way
337 College Hill
1001 College Rd
158 Harmon Drive
One Winooski Park
85 S Prospect St
The Department of Labor’s Bureau of Labor Statistics (BLS) estimates that the number of accounting and auditing positions in Vermont will increase by 9.3% by the year 2022. This increase is smaller than the projected national growth rate of 13.1%.
The state’s 3,300 accountants and auditors earn an average salary of $70,420 per year, a figure comparable to national averages. Vermont’s accountants do, however, outearn the average worker in the state by nearly $25,000 per year.
|Count||Firm||Location||2014 Revenue (in millions)|
|1||Gallagher Flynn & Co.||South Burlington, VT||$9|
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"
CPA candidates in Vermont must sit for and pass the Uniform CPA Exam. The test is administered by the National Association of State Boards of Accountancy (NASBA) and consists of four sections:
Many candidates do not pass all four sections on their initial attempt and are permitted to apply for re-examination of unpassed sections within 18 month of their first attempt.
CPAs from other states who wish to relocate to Vermont may apply to have their license transferred. The state participates in NASBA’s CPA Mobility program which allows CPAs to transfer their active out-of-state licenses to Vermont without having to conform to current state requirements.
Individuals that would like to become a licensed Vermont CPA must first pass the Uniform CPA Exam. Qualifications to sit for the exam include:
It is not uncommon for candidates to require more than one attempt to pass all four sections of the Uniform CPA Exam. Prospective CPAs who apply for re-examination with 18 months of their first attempt are subject to exam registration fees which are based on the number of sections being re-taken:
CPA candidates in Vermont are also required to take an AICPA ethics course within 2 years of applying for licensure. The course must include the AICPA code of professional conduct and Vermont accountancy statutes and rules.
|Social Security # Requirement||Yes|
|Education Requirement for Licensure||150 hours (including bachelor's degree)|
|Hours in Accounting||150 hours including 42 semester hours or equivalent quarter hours of accounting, auditing and related subjects|
|Exam Sitting Requirements||Bachelor's degree or scheduled completion within 60 days|
|Experience Requirements||1 year experience applying accounting and auditing skills and principles that are taught as part of the professional education|
|Ethics Exam||Must pass AICPA Professional Ethics Exam for initial licensure|
Vermont CPA eligibility and licensing requirements are available online through the Vermont State Board of Accountancy. The revised administrative rules for the Board of Public Accountancy became effective on June 1, 2014 and are available online.Source: The American Institute of CPAs
|Rank||Logo||School Name||Candidates||Pass Rate||Average Score|
|1||University of Vermont||35||68.2%||76.5|
|2||Castleton State College||16||47.2%||74.3|
|4||Saint Michaels College||19||41.5%||71.6|
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
The Vermont Society of Certified Public Accountants (VTCPA) is a professional membership organization that provides members with continuing education opportunities, technology and leadership training and legislative advocacy and outreach. The Vermont Board of Public Accountancy licenses and regulates Certified Public Accountants in the State of Vermont.
128 State Street
Montpelier, VT 05633