Missouri CPA Requirements

Missouri boasts one of the fastest-growing economies in the Midwest. The state's gross domestic product increased by 3.3% in the last quarter of 2023, thanks in part to its diverse industries.

Manufacturing, wholesale trade, management, and finance rank as Missouri's most concentrated industries, with eight Fortune 500 companies calling Missouri home.

Such diverse industries share a common need for accountants. As the state's economy grows, so does the accounting industry. Projections Central forecasts a 5.9% growth rate in Missouri's accountant and auditor employment from 2022-2032 — higher than the projected national change.

Students can benefit from this growing industry by pursuing certified public accountant (CPA) licensure. The Missouri CPA requirements include a bachelor's degree, hands-on experience, and passage of the CPA exam.

While this process sounds fairly standard, Missouri's specific expectations and application process differ from those of many states. Discover how to become a CPA in Missouri with the helpful guide below.

Education Requirements for Becoming a CPA in Missouri

CPA license applicants nationwide must meet education requirements, usually 150 credits. Specific course and degree requirements vary by state, though.

In Missouri, candidates must dedicate 60 of those 150 credits to specialized courses: 30 in accounting and 30 in business. The state board also requires proof of a bachelor's degree for licensure.

Many aspiring CPAs in Missouri CPA license applicants pursue master's degrees after completing their undergraduate programs since a four-year undergraduate degree typically only includes 120 credits. Candidates still need another 30 credits for licensure, which aligns with the standard master's degree credits.

Missouri schools often help CPA candidates accelerate their studies by offering bachelor's-to-master's accounting programs. These bridge programs often reduce the study time by one year and offer CPA-specific guidance.

Concentrations, Credits, and Course Acceptance

CPA candidates can fulfill the 60-credit focus requirement with any of the diverse accounting and business course topics listed in the Missouri State Board of Accountancy's guidelines. Approved accounting themes and taxation, fraud examination, and financial statement auditing; courses like marketing and economics can meet the business credit requirement.

The state board also approves independent study and, potentially, unlisted topics as long as they relate to accounting and business. In other words, aspiring Missouri CPAs can select the accounting or business concentration of their choice and still comply with the credit requirements.

For example, students might major in accounting with a concentration in finance, marketing, taxation, or auditing — all topics approved by the state board. Alternatively, they may complete a bachelor's in business administration with an emphasis in accounting.

While the state board accepts undergraduate and graduate credits, candidates should consider completing most of them during their undergraduate studies. CPA exam requirements include 48 of those 60 specialized credits. Waiting until graduate school to take these courses can postpone the exam and extend the licensing process.

Students can use credits from any accredited institution — including online schools, two-year institutions, and community colleges — to meet the general and specialized credit requirements. The state board does not accept commercial CPA review courses, and College Level Examination Program credits may only count toward the general credit requirement.

Missouri Experience Requirements

Missouri CPA requirements include at least one year of full-time accounting experience — or 1-3 years of part-time experience. No matter the work format, candidates must complete at least 2,000 hours.

Approved work experience includes the following services:

• Financial advisory
• Tax
• Government accounting
• Budgeting
• Attestation
• Accounting
• Auditing
• Management advisory

A licensed CPA must oversee all experience hours and confirm them on the candidate's licensure application. If requested by the state board, they must provide written verification.

CPA Exam Requirements

All CPA candidates must take the same Uniform CPA Examination. It includes four sections: three standard sections and one specialized topic.

However, the eligibility requirements for the exam vary by state. Discover what candidates need for the CPA exam in Missouri with the points below.

Eligibility to Take the Exam

Students 18 years or older can apply for the CPA exam once they have completed most of the educational requirements for licensure. Specifically, each applicant must demonstrate completion of 120 completed credits with at least 48 credits in business and accounting courses — 24 in each specialty.

Approved accounting course topics include:

• Financial statement analysis and auditing
• Ethics (relating to accounting)
• Attestation engagements
• Accounting information systems
• Financial accounting (for business, government, or nonprofit entities)
• Fraud examination
• Internal control and risk assessment
• Taxation
• Merges and acquisitions
• Managerial and cost accounting
• Tax and financial planning
• Tax research and analysis

The 24 business credits should cover at least some of these topics:

• Business law
• Management
• Information systems
• Economics
• Finance
• Marketing
• Statistics
• Quantitative methods
• Data analytics
• Business communications
• Ethics (relating to business)

An applicant can fulfill credit requirements with up to nine internship and independent study credits. These hands-on courses must focus on accounting or business topics to qualify — even for the general 120-credit requirement.

Most states require students to complete all education requirements before applying for the exam. However, the Missouri State Board of Accountancy allows exam applicants a head start if desired.

Candidates can apply and sit for the first section exam before completing the required credits as long as they follow two extra steps:

The state board does not enforce any residency, Social Security, citizenship, or ethics requirements for the CPA exam. The National Association of State Boards of Accountancy (NASBA) specifies that students should show good moral character but requires no proof beyond yes/no questions in the exam application.

Applying for and Scheduling the Exam

Exam candidates must first apply for an eligibility evaluation through NASBA. After creating an account on NASBA's online platform, they can access the new candidate application on the CPA Portal.

Make sure to set the jurisdiction to "Missouri State Board of Accountancy," then continue with the application questions. These include standard candidate information and attestations.

The application does not require any document submission through the portal unless the candidate is still finishing the credit requirements at the time of submission. In this case, they must upload a completed copy of the Certificate of Enrollment.

Students also need to list all attended U.S. post-secondary institutions on their applications. Separately, they must ask the schools to send official transcripts to NASBA's CPA Examination Services (CPAES) via mail or email.

Applicants who have attended school outside the U.S. should not list their attended schools. Instead, they must select the "International Evaluation" option on the education tab and request a credential analysis from NASBA International Evaluation Services. Upon completion, the agency sends an official evaluation directly to CPAES.

The final step involves a nonrefundable $90 payment. If NASBA does not receive all transcripts and international evaluations within 90 days of submission, the application becomes void, requiring students to resubmit the application and fee.

NASBA processes the education evaluation within 2-4 weeks of receiving all documents. Once approved, applicants schedule — or register — to take an exam section. They can take the exam sections individually in any order. Each section requires a separate application that costs $356.64.

After registering, each candidate receives a Notice to Schedule (NTS). The NTS lasts for six months, meaning students must schedule and sit for the exam within that time. If more than six months pass, the registration and fees expire.

Remember, CPA exam applicants still taking required courses must resubmit transcripts with the newly completed credits within 60 days after the first section exam date. Failure to prove credit completion may affect the student's exam eligibility.

As of January 2024, the state board allows 30 months to complete all four exam sections (increased from the previous 18-month limit). This period starts on the date of the first passed exam and rolls forward if the student needs more time.

After Passing the Exam

Once a student has passed all exam sections, their scores do not expire. However, an individual applying for licensure more than five years after their last pass date must complete 40 hours of continuing professional education (CPE) — at least two in ethics — within the year before licensure.

All applicants should use the time between passing the exam and applying for licensure to complete any unfulfilled Missouri CPA requirements. They must also pass an ethics exam.

The Missouri State Board of Accountancy accepts ethics exams from the American Institute of Certified Public Accountants (AICPA) or other approved institutions. If taking the AICPA ethics exam, candidates must pay $320 ($250 for members) and receive a 90% minimum score.

With all requirements met, candidates can access an application on the state board website. Select the application forms link on the left sidebar, then choose the initial application form.

Fill out all education, experience, and personal data before notarizing the application. The licensed verifier must also complete a section confirming the applicant's 2,000 experiential hours.

Candidates must then mail the application to the Missouri State Board of Accountancy. The submission should include a two-inch-by-two-inch professional photograph, a check or money order for $90, proof of CPE (for candidates applying five years or more after passing the exam), and a copy of the ethics certificate.

Keep in mind that applicants must request updated transcripts. These go directly to the CPAES — not with the physical application.

Once approved, each newly licensed CPA receives a physical copy of their license. Employers can verify the license on the Missouri State Board of Accountancy's licensee search page.

Maintaining Licensure

Missouri CPA licenses expire on Sept. 30 of every other year. The state board sends each license-holder a notification reminder 60 days before expiration.

CPAs can visit the state board website to begin the renewal process online or request a paper application. They must include basic business information, attach CPE verification, and pay an $80 fee.

If a licensed CPA misses the renewal deadline, their license expires. However, they can still complete a late renewal until Dec. 31 of the same year for a per-month late fee of $50.

After Dec. 31, the license lapses, and the CPA can no longer practice. In these cases, the professional must apply for a $200 CPA license reinstatement.

The state board requires 40 CPE hours each year, including two ethics hours. License-holders can complete these through the following methods:

• Post-secondary accounting courses
• Independent study
• Group or blended-learning programs
• Teaching, developing, or reviewing CPE programs
• Writing published materials related to accounting (no more than two hours per year)
• Creating and publishing CPE program materials

CPAs can also earn CPE hours by completing accountancy-related certifications. Approved programs that count toward a varying amount of CPE hours include:

• Advanced audit certification-CAMS audit (10 hours)
• Certified anti-money laundering specialist (10 hours)
• Certified government financial planner (10 hours per exam section)
• Certified information system auditor exam (15 hours)
• Certified treasury professional exam (15 hours)
• Chartered enterprise risk analyst (15 hours per exam section)
• Chartered financial consultant (15 hours)
• Certified accounts payable professional exam (20 hours)
• Certified investment management analyst (20 hours)
• Certified management accountant (20 hours per exam section)
• Enrolled agent (20 hours)
• Certified fraud examiner (25 hours)
• Chartered alternative investment analyst (25 hours per exam section)
• Certified financial planner (30 hours)
• Chartered financial analyst (30 hours per exam section)

License-holders must document all CPE hours and keep proof for at least five years. The Missouri State Board of Accountancy offers a CPE reporting tool to help professionals track their hours.

Thanks to the Uniform Accountancy Act's concept of Substantial Equivalency, most states have similar CPA licensing requirements. That means CPAs licensed in Missouri can transfer to other states — and vice versa — fairly easily.

Missouri even offers several options for out-of-state CPA applicants. Practicing CPAs can complete the reciprocity application and pay the $165 fee to transfer their license. Non-licensed CPA applicants who have passed the CPA exam can apply for Missouri licensure through the transfer of grades application, which costs $90.

Mobility legislation also allows CPAs to work in other states without transferring their licenses. Their main place of business must remain in the licensing state, though. Professionals interested in firm ownership do not need CPA licensure in Missouri. However, the majority of the other partners must hold CPA licenses.

Questions About CPAs in Missouri