Minnesota Cpa Exam License Requirements 2022

Minnesota CPA Exam

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The U.S. jurisdiction pursues the one-tier licensing procedure. This system eliminates the need to obtain a CPA Certificate after passing the CPA ExamCPA ExamA Certified Public Accountant (CPA) is a US state board-issued license to practice the accounting professionread more. Ideally, you must meet the stipulated education and qualifying experience before applying for the CPA license in the state.

The state mandates the Minnesota Board of Accountancy (BOA) to act as the licensing body for CPAs. Note that the jurisdiction also partakes in the International Examination Program. It implies that candidates who have established their eligibility through it can take the CPA Exam at international locations.

Here are the specifics of the Minnesota CPA exam and license requirements.

Contents

Minnesota CPA Exam Requirements

Eligibility RequirementsFeesRequired DocumentsExamination Process

Minnesota CPA License Requirements

Education RequirementsExam RequirementsExperience RequirementsEthics Requirements

Continuing Professional Education (CPE)

Minnesota Exam Information & Resources

Minnesota CPA Exam Requirements

The Uniform CPA Examination is a computerized test bifurcated into four sections, each four-hour long. The licensure test examines your knowledge and competence in handling the responsibilities as a CPA.

The American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA) come together to design and conduct the CPA Exam. Candidates have a rolling 18-month period to pass all exam sections. This period begins from the date they take the first passed exam section.

Each exam section has five testlets with multiple-choice questions (MCQs), task-based simulations (TBSs), and written communication tasks (WCTs). Bear in mind that each candidate must score a minimum of 75 points on a scale of 0-99 in each CPA exam sectionCPA Exam SectionThe Uniform Certified Public Accountant (CPA) Exam comprises four sections, namely, Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). The unique content, structure, format, and scoring of the CPA exam earn it the title of one of the most challenging professional exams. read more to qualify.

Eligibility Requirements

General Requirements

Be a Minnesota resident with required education or qualifying experience obtained in the state. Non-resident candidates must submit the residency proof within 90 days preceding or following the CPA exam dateCPA Exam DateThe Certified Public Accountant or CPA is a credential acquired by professionally skilled accountants across the globe. To attain this credential or license, candidates must qualify the CPA Exam and fulfill their state board’s educational and experience requirements. As the CPA Exam is held at different locations in the US all year round, choosing a suitable schedule, date, and Prometric testing center is of paramount importance.read more.Be of good moral character.

Education Requirements

Education requirements are based on the accreditation of the academic institution where you acquired the degree. You must meet one of the following requisites:

Fees

Initial candidates must pay the application fee and the examination fees. At the same time, re-examination candidates must pay the registration fee and the examination fees.

You can’t withdraw from the exam or request a Notice-to-Schedule (NTS) extension. So, ensure to schedule and sit for the applied sections within the NTS expiry window (six months). However, note that an NTS extension or a partial exam fee refund is possible in an emergency.

Required Documents

NASBA’s CPA Examination Services (CPAES) requires the submission of the following documents.

Know that photocopied transcripts are considered unofficial and therefore unacceptable.

Examination Process

You must apply through NASBA’s CPAES to take the CPA Exam.

Visit CPA Central, NASBA’s online application system, and create an accountSubmit the online application and pay the application and examination fees.Mail transcripts and other documents to NASBA.On determining your eligibility, NASBA issues the Notice-to-Schedule (NTS).Using the NTS, you can schedule the desired exam sections with Prometric.

The timeline for fulfilling the education requirement, submitting the application and transcripts, and taking the exam is as follows:

Minnesota CPA License Requirements

The eligible Minnesota CPA candidates need the following to apply for the CPA license:

Apply for the CPA License through Minnesota BOA. Refer to the state board website for the complete process.

Education Requirements

Minnesota CPA licensure applicants must earn 150 semester hours from an institution accredited by:

Accrediting agency (regional or national) recognized by the United States Department of EducationAssociation to Advance Collegiate Schools of Business (AACSB)Accreditation Council for Business Schools & Programs (ACBSP)

To obtain the qualifying hours, applicants must fulfill one of the following requirements:

Know that maximum of six internship credits is counted toward the 48-semester hour requirement. Moreover, you can include the additional internship credits toward the 150-hour requirement.

Exam Requirements

Ensure to apply for the CPA exam after fulfilling the degree requirement. You must complete the test with at least 75 points in each part. Further details are specified in the Minnesota Exam Requirements section.

Experience Requirements

Minnesota CPA aspirants must earn one year of full-time or part-time work experience. It includes gaining at least 2000 hours of service within 1-3 years. Moreover, an active CPA must verify the work experience.

Paid internships (not included in the education requisite) are also counted toward the required employment. Also, you may obtain work experience while sitting for the CPA exam.

Ethics Requirements

Candidates must pass the AICPA-developed self-study ethics exam within two years before the licensure application date. They may take up the ethics exam any time before or after passing the Uniform CPA Examination.

Here is all you need to know.

After successfully passing the ethics exam, request AICPA to send your scores to the Minnesota Board.

Continuing Professional Education (CPE)

To maintain the CPA license, Minnesota candidates must gain 120 CPE credit hours every three years. At least 72 qualifying hours must be from the board-approved providers.

Let’s view all the details.

Please note that there are only four Prometric testing centers in the state. Hence, attempt your CPA exam at the nearest one for a comfortable testing experience. Moreover, you can always visit the Minnesota State Board, AICPA, or NASBA website to inquire about the CPA exam or license requirements.

Gaining the Minnesota CPA title will offer you a satisfying career with a high salary and several specialization opportunities. However, ensure to keep satisfying the CPE requirements to enjoy its benefits and provide consistent quality services. Click here to learn more about CPEs for CPACPEs For CPAAs a Certified Public Accountant (CPA), you need to acquire Continuing Professional Education or CPE credits for sustaining your license. This ensures that you are actively involved in improving your know-how of the profession by engaging in learning activities.read more

Minnesota CPA Exam & Information Resources

Minnesota Board of Accountancy (http://www.boa.state.mn.us/)

85 E. 7th Place Suite 125, St. Paul MN 55101 USA

Ph:(651) 296-7938

TTY: (800) 627-3529

Fax: (651) 282-2644

Minnesota Society of CPAs (https://www.mncpa.org/)

1650 West 82nd Street, Suite 600, Bloomington, MN 55431

Ph: 952-831-2707 & 1-800-331-4288

Email: [email protected]

NASBA (https://nasba.org/)

150 Fourth Ave. North

Suite 700

Nashville, TN 37219-2417

Tel: 615-880-4200

Fax: 615-880-4290

AICPA (https://www.aicpa.org/)

Phone number: 888.777.7077

220 Leigh Farm Road

Durham, NC 27707-8110

Fax server: 800.362.5066