The requirements for Licensure are as follows. 1)
Pass all parts of the examination either in Arkansas or a substantially
equivalent jurisdiction. 2) Have one (1) year of experience which
includes providing any type of service or advice involving the use
of accounting, attest, management advisory, financial advisory, tax,
or consulting skills gained through employment in government, industry,
academia, or public practice and verified by a licensee, meeting requirements
prescribed by rule. 3) Must be of good moral character. 4) Provide
references, fingerprints, and authorize the Board to conduct a criminal
background check for verification.
The education requirements to sit for the CPA examination
prior to January 2008 are as follows: 1) Earned a graduate degree
with a concentration in accounting from an accounting program or department
that is accredited (Level 1 accreditation) by an accrediting agency
recognized by the Board. Or 2) Earned a graduate degree from a business
school or college of business that is accredited (Level 2 accreditation)
by an accrediting agency recognized by the Board and completed 30
semester hours in accounting at the undergraduate (with a minimum
grade of "C" in each course) or graduate level, including
coverage of, but not necessarily separate courses in, the subjects
of financial accounting, auditing, taxation, management accounting,
and governmental/not-for profit accounting.
Effective for applicants who sit for the CPA examination
on or after January 1, 2008, the education requirement will be as
follows: 1) Earned a graduate degree with a concentration in accounting
from an accounting program or department that meets the criteria for
Level 1 accreditation. Applicants in this category are deemed to have
satisfied both the business and accounting education requirements
for the examination. Or 2) Earned a graduate degree with at least
30 upper-level or 20 graduate hours in accounting (or a combination
thereof) from a college or university that meets the criteria for
Level 2 accreditation, defined as business education requirements
for the examination. Or 3) Earned an undergraduate degree, including
150 hours with at least 30 upper-level or 20 graduate hours in accounting
(or a combination thereof) from a college or university that meets
the criteria for Level 1 accreditation or Level 2 accreditation, defined
as accounting and business accreditation respectively. Applicants
in this category are deemed to have satisfied the business education
requirements for the examination. Or 4) Earned a graduate or an undergraduate
degree either of which, includes 150 hours with at least 30 hours
in business and at least 30 upper-level or 20 graduate hours in accounting
(or a combination thereof) from a college or university that meets
the criteria for Level 3 accreditation defined as regional accreditation.
CPA Examination Fees: ASBPA application and section
fees: Initial (first-time) application fee $50.00, 4 Exam Sections
$120.00, 3 Exam Sections $105.00, 2 Exam Sections $90.00, 1 Exam Section
$75.00.
Fees collected by the Board for the following exam
sections: Auditing and Attestation (AUD) $187.00, Business Environments
and Concepts (BEC) $140.78, Financial
Accounting and Reporting (FAR) $175.44, Regulation (REG)
$152.33.
