Vermont

Eligibility for Examination

As a first-time or re-examination applicant, you must:

• be of good moral character; and
• have earned a minimum of 120 semester hours of general college level education with 30 semester hours in accounting and business including:
• 6 semester (9 quarter) hours of financial and/or managerial accounting (excluding Introductory Accounting)
• 3 semester (4.5 quarter) hours of auditing,
• 3 semester (4.5 quarter) hours of U.S. taxation,
• 3 semester (4.5 quarter) hours of U.S. business law,

All educational transcripts, Certificate of Enrollments, and/or foreign evaluations are required to be submitted to CPA Examination Services. You may submit official school transcripts, Certificate of Enrollments and/or foreign evaluations separately or included with first-time application.

Beginning July 1, 2014:

All candidates will be required to have 150 semester hours to be licensed. Additionally, candidates will need to have a fully completed application on file with the Board, including successful completion of the examination, experience and education requirements prior to July 1, 2014, if they wish to gain licensure without 150 semester hours.

Transcripts

If you who have completed the educational requirement at the time of application:

• You must submit an official transcript from each school you attended. Transfer credits are not acceptable; you must submit a transcript from each institution.
• Official transcripts are those that have been issued by the institution’s Registrar’s Office and include the Registrar’s official seal.
• The degree you have earned must be posted on your official transcript.
• Transcripts may be submitted electronically provided they are official. Some schools do not offer this service. Contact your Registrar’s office for additional information. If an email address is required for electronic delivery, use [email protected]. Electronically delivered transcripts must be submitted directly from the institution(s).
• Photocopies of transcripts are not official and cannot be accepted.
• Please Note: If you have not yet applied when you submit your transcripts, your education documents will be kept on file for one year. After that time, the documents will be destroyed, and you will need to resubmit new education documents when you apply.
• If you completed courses at a campus located outside the U.S. for a school located in the U.S., the official transcript must be issued by the registrar from the U.S. campus. Transcripts issued by the registrar for the campus located outside the U.S. will not be accepted.

If you are currently enrolled in college at the time of application, you must:

• Submit an official transcript from each school you attended.
• Submit to CPA Examination Services a completed Certificate of Enrollment (COE) form. This form is evidence that you are currently enrolled and that: (1) all courses will be completed no later than 60 days immediately following the actual date your first-time application was received by CPA Examination Services and (2) the final official transcript showing completion of all education, will be submitted to CPA Examination Services no later than 120 days immediately following the date CPA Examination Services received your first-time application. The form must be signed by an authorized official of the college and signed by you.
• Official school transcripts with “in progress” courses listed are acceptable in lieu of Certificate of Enrollment.
• The official transcript(s) and Certificate of Enrollment Form may be submitted by you.
• If you completed courses at a campus located outside the U.S. for a school located in the U.S., the official transcript must be issued by the registrar from the U.S. campus. Transcripts issued by the registrar for the campus located outside the U.S. will not be accepted.

After all educational requirements have been met, you must:

• Submit to CPA Examination Services the final official transcript showing completion of all education, no later than 120 days immediately following the date CPA Examination Services received your first-time application.
• The final official transcript must display satisfactory completion of all courses and the degree graduation date.
• The official transcript may be submitted by you.

You are also advised:

• Examination scores will not be released nor will you be permitted to take future examinations until CPA Examination Services receives the final official transcript.
• Failure to successfully complete the courses and/or degree requirements as indicated on the Certificate of Enrollment will result in the examination score(s) being voided.
• If the required final official transcript is not received, the application will be determined to be incomplete and you will not receive examination score(s), will not receive any credit for any Uniform CPA Examination section taken, and will not be permitted to take any future examinations and will be required to reapply as a First-time applicant.

If you have completed educational requirements at institutions outside the U.S., you must:

• Have your educational credentials evaluated by:
  • NASBA International Evaluation Services, or
  • any member organization of the National Association of Credential Evaluation Services (NACES).
• Require the agency to evaluate as follows:
  • An equivalency summary that indicates the analogous academic degrees in the U.S. you hold;
  • A credential analysis that specifies:
    • The name of the country;
    • The degree awarded;
    • The year the degree was awarded; and
    • The entity that awarded the degree;
  • A course-by-course listing; and
  • A course credit analysis that includes:
    • Total credits earned toward the degree as stated on transcripts submitted;
    • Total accounting credits earned; and
    • Total business credits earned.
• Completed original evaluations must be received by CPAES directly from the evaluation service at the time of application. Photocopies are not acceptable.
• A copy of the international transcript must be included with the report sent to NASBA for each individual evaluation from the evaluation service. The application will be considered incomplete without these documents and the processing of the application will not move forward until transcripts are provided.
• Please Note: If you have not yet applied, education documents received will be kept on file for one year. After that time, these documents will be destroyed, and you will need to resubmit new education documents at the time of application.
• If you completed courses at a campus located outside the U.S. for a school located in the U.S., the official transcript must be issued by the registrar from the U.S. campus. Transcripts issued by the registrar for the campus located outside the U.S. will not be accepted.
• Education requirements must be met through academic coursework completed at an accredited institution. Professional training is not acceptable toward these requirements. Coursework completed as part of a Chartered Accountant or similar program is considered professional training and is, therefore, not accepted toward the education requirements for the U.S. Uniform CPA Examination.

Note: Certified General Accountant applicants from Canada are required to obtain an educational assessment by a foreign evaluation service.

Course Requirements

• Commercial CPA review courses are not acceptable.
• Education earned at a regionally accredited community college or two-year degree granting institution is acceptable.
• Official school transcripts with “in progress” courses listed are acceptable in lieu of Certificate of Enrollment.
• All courses earned must qualify for college credit at a two-year or four-year institution accredited by one of the six regional accrediting bodies (Middle State, New England, North Central, Northwest, Southern, and Western).
• Correspondence, CLEP credit, CPA Review courses and online courses are acceptable when you receive credit for the courses at a regionally accredited college or university. These courses must appear on an official transcript.

Residency

There is not a residency requirement for the state of Vermont.

1. An official transcript from each school listed on your application. Transcripts must be sent directly from your school to CPA Examination Services.
2. Certificate of Enrollment, if applicable. Submission by you or school to CPAES.
3. International Evaluation, if applicable. Submission by you or evaluation agency to CPAES.
4. Testing Accommodations Request Form, if applicable. Submission by you to CPAES.

Please allow two to four weeks from your file completion date (when application, fees and all additional required materials have been received) for your application to be processed. Acknowledgment of receipt of application will be sent to you via email, unless otherwise indicated. This notice is sent only as acknowledgment of receipt of application.

If you have previously applied and sat but were currently enrolled in college at the time of application (Certificate of Enrollment form), you are NOT automatically considered a re-examination candidate.

Applicants with Disabilities

In accordance with the provisions of the Americans with Disabilities Act, examination administration accommodations are available, should you qualify. Please download the Testing Accommodations Request Form for more information.

Education Evaluation Application

Before you can apply for an exam section you must first be deemed eligible for the CPA Exam. Your Evaluation Application will determine if you meet the educational requirements needed to take the CPA Exam for your selected jurisdiction.

Education Evaluation Application Fee: $93.00

Exam Section Application

Once you have been found eligible for the CPA Exam you may then apply for a specific exam section. You can only apply for one exam section per application. You are advised to only apply for the exam section if you are ready to take it. Your Notice to Schedule will be valid for a limited amount of time, and you must take the exam section listed on the NTS within this time frame or you will lose those fees paid.

Exam Section Application Fee: $355.64

Refund Policy

There is no provision for withdrawing from the examination and/or requesting an extension of your current Notices to Schedule (NTS). Application and/or examination fees are not refundable. If you have an extreme circumstance, you may request an NTS extension or a partial refund of your examination fees under specific circumstances utilizing the Exception to Policy Form.

You may take the required test sections individually and in any order, but are required to pass all four sections of the examination within a rolling 18 month period, which begins on the date the first examination section passed was taken.

Credit for any section passed shall be valid for 18 months from the actual date the examination sections were taken. Examination credit expires by section. You will lose credit for each section passed outside the 18 month period, and will have to retake those sections.

Transfer of Examination Credit

If you wish to transfer credit from another jurisdiction into Vermont, you must have earned credit under the same rules as are in effect in Vermont. If you have passed one or more sections of the CPA examination under another jurisdiction, you shall be given conditional credit by this board provided you have established residence in Vermont and are still eligible to be considered a re-examination candidate in the original state where credit was earned.