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Known for its picturesque New England towns and ski resorts, Vermont also offers job opportunities for accountants. The Vermont Society of Certified Public Accountants has provided professional accounting support since 1933. Today, the organization maintains a membership of 800.
Vermont's certified public accountants (CPAs) help provide financial leadership to the state's driving economic sectors. In addition to serving as tax preparers for individuals and businesses, CPAs can also find work in the investment, tourism, manufacturing, and agricultural industries.
To become a CPA in Vermont, you must satisfy several important requirements: CPAs need to earn 150 credits of higher education, complete one year of supervised work, and pass the Uniform CPA Exam. The entire process can take 6 or more years.
To find out more about Vermont's CPA requirements, explore the guide below.
Education Requirements for Becoming a CPA in Vermont
According to the National Association of State Boards of Accountancy (NASBA), Vermont maintains two different education requirements: one regarding eligibility for the Uniform CPA Exam, and one for licensure eligibility. To qualify for the exam, learners only need 120 credits of college-level classes, including 30 semester hours of accounting-related coursework.
To obtain licensure, however, prospective CPAs in Vermont need a bachelor's degree and at least 150 credits of college-level education. Though CPAs do not need to hold a master's degree in Vermont, completing a graduate-level program can help prospective CPAs meet this 150-credit requirement while earning an advanced educational credential in the process. A graduate degree in accounting or a related field may boost career prospects and earning potential.
Future CPAs should explore the variety of academic options they can use to fulfill this educational stipulation, including accelerated bachelor's-to-master's programs.
Concentrations, Credits, and Course Acceptance
Vermont CPAs must earn a minimum of 150 college credits from an accredited college or university. Though the board does not require learners to major in accounting or other finance-related fields, at least 42 of their 150 credits must be in accounting, auditing, or a similar discipline. Therefore, pursuing an accounting degree can help learners more easily fulfill these requirements.
To sit for the Uniform CPA Exam, students must complete 120 credits, including 30 credits in the following areas: six semester credits of financial and/or managerial accounting beyond the introductory level, three credits of auditing, three credits of U.S. taxation, and three credits of U.S. business law. To qualify for licensure, learners must also complete at least 12 additional credits in accounting, auditing, or related subjects.
The Board of Accountancy does not accept commercial CPA review courses. You may, however, count credits earned through online and correspondence classes, CPA review courses, or CLEP tests, provided an accredited college or university records these credits on your transcripts. Vermont accepts credits from two-year and four-year colleges as long as they are degree-granting institutions.
Courses that can help prospective CPAs fulfill Vermont's accounting-related credit requirement include:
- Tax Research
- Governmental and Nonprofit Accounting
- Forensic Accounting and Auditing
- Sustainability and Sustainability Reporting Content
Featured Online Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Vermont Experience Requirements
In Vermont, you must complete one year — 2,080 hours — of supervised work experience under a CPA or a similarly licensed professional. You must finish this requirement within four years of passing the Uniform CPA Exam.
To qualify, your supervised hours must include public accounting experience. This work must be nonroutine, requiring independent thought and judgment about accounting issues. This Way to CPA reports that at least 500 hours must be attest, and at least 200 of these attest hours must be related to auditing.
Eligible public accounting work may include reviewing and evaluating internal control policies and procedures or preparing and analyzing financial reports. Non-public experience should also be nonroutine and independent. It may include tasks like tax research, assessing internal controls, or cost accounting.
Upon completing these hours, you must submit a Report of Supervised Experience in Public and/or Non-Public Accounting to Vermont's Board of Public Accountancy. This six-page report asks about your own experience as well as your supervisor's experience. If you have gaps in your experience, explain them within the form.
CPA Exam Requirements
The American Institute of Certified Public Accountants (AICPA) administers the Uniform CPA Examination, a standardized four-part test that all states require CPAs to pass to obtain licensure. Though the exam itself is the same nationwide, each jurisdiction maintains its own eligibility requirements. We explore these rules for Vermont below.
Eligibility to Take the Exam
To take the CPA exam in Vermont, you must have completed — or be within 60 days of completing — 120 credits of college coursework. These must include 30 semester hours in business and accounting, including six credits in financial or managerial accounting beyond an introductory accounting course. You also need three credits in auditing, three credits in U.S. business law, and three credits in U.S. taxation.
The Vermont Board of Accountancy requires applicants to be of good moral character. According to This Way to CPA, prospective CPAs in Vermont need a Social Security number, but the state does not stipulate U.S. citizenship or state residency. There is also no minimum age eligibility. The state participates in the international exam program.
Applying for and Scheduling the Exam
Though not required, you can confirm exam eligibility through an advisory evaluation. This process informs you of academic-related deficiencies you must rectify before you submit your exam application. You can request an evaluation on CPA Central's website.
Once you have verified your eligibility for the Uniform CPA Exam, apply for a Notice to Schedule (NTS) through NASBA's CPA Examination Online Application System. You must send transcripts verifying your college coursework directly to NASBA from your institution. If you are still enrolled in school, you must submit a certificate of enrollment bearing signatures from you and a school official.
If you are applying for testing accommodations or if you have taken for-credit coursework outside the U.S., you must also submit the appropriate request forms to NASBA. Your application should include a $170 application fee. You can apply for one or multiple sections of the exam. Each section costs $238.15. If you need to retake parts of the test, you must submit a reexamination fee of $85 plus the exam fee for each section you retake.
Once NASBA has received your completed application packet and fees, they will mail you an NTS. You can use your NTS to schedule your testing appointment at a Prometrics center.
After Passing the Exam
According to AICPA, you should receive your Uniform CPA Exam scores 1-2 weeks after completing the test.
Once you have passed all four parts of the exam, you must complete one year (2,080 hours) of qualifying work experience under a CPA. If you have not already completed 150 credits of college-level coursework and earned a bachelor's degree, finish these requirements.
When you have fulfilled the educational, exam, and experience components of the CPA licensure process, use the Vermont Secretary of State's Office of Professional Regulation to apply for a CPA license. The office typically processes applications in 3-5 days.
Maintaining Licensure
All CPA licenses in Vermont expire simultaneously on a fixed two-year cycle. This means that, depending on when you first receive licensure, you may need to renew even if it has been less than two years. However, each renewal will extend your license for the following two-year cycle. Applicants who receive their license within 90 days of a two year cycle's end are given a license that remains valid through the end of the subsequent two-year cycle.
Per the state's Office of Professional Regulation, CPAs must complete 80 hours of continuing education every two-year cycle. These credits must include four hours in ethics and eight hours accounting and auditing, while the remaining 68 must be accountancy-related. Depending on when their license was issued, CPAs renewing for the first time need to complete only 40 hours of continuing education or none at all.
The board sends renewal notices six weeks prior to expiration. Upon receiving this notice, you can submit your renewal application through the state's online services portal. You must submit proof of your continuing education hours with your application.
Vermont does not maintain licensure reciprocity agreements with other jurisdictions. However, if you are already licensed as a CPA in another state and have been in good standing for at least three years, you can be fast-tracked into licensure in Vermont.
Questions About Vermont Accountants
How do I become a CPA in Vermont?
Vermont CPAs need 150 credits of higher education, including a bachelor's degree; at least one year of accounting experience with CPA supervision; and passing scores on the Uniform CPA Examination.
Who can take the CPA licensure exam in Vermont?
To take the CPA exam in Vermont, you need at least 120 credits of college coursework. These classes must include six semester credits of financial and/or managerial accounting, three credits of auditing, three credits of U.S. taxation, and three credits of U.S. business law.
How long does it take in Vermont to become a CPA?
Becoming a Vermont CPA can take six or more years. Full-time students typically complete the required 150 credits in 4-5 years. Prospective CPAs must also complete one year of work experience as well as study for and pass the Uniform CPA Examination.
Is getting a CPA license in Vermont hard?
As is the case in every state, the CPA licensure process is rigorous, requiring prospective CPAs to complete college-level classes, supervised work experience, and passing a standardized exam.
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