The AICPA Uniform CPA exam is challenging on its own, but each state also has its own set of requirements that must be met before you can qualify to write for their board. In order to make this process easier, we have compiled a detailed overview of what the Commonwealth of the Northern Mariana Islands (CNMI) Board of Accountancy’s requirements are if you wish to either sit for the CPA exam, transfer your existing credits or CPA license to CMNI, or to maintain your existing CPA license. As these requirements are subject to change, we recommended confirming all information with the Board to make sure you qualify, and to verify that the charges have not been updated since this piece was published.

Age

There is no age requirement to sit the CPA exam in the CNMI.

Residency

There are no residency requirements.

Citizenship

There are no citizenship requirements for the CNMI.

Education

The CNMI requires a bachelor’s degree or higher from a college or university with a Board-recognized accreditation, as well as a 150 semester hour requirement. These requirements can be met in five possible ways:

  • Graduate degree in Accounting from an accredited AACSB program.
  • Graduate degree in Business from an accredited AACSB program, with 24 semester hours in Accounting at the undergraduate level or higher, including courses in:
    • Financial Accounting
    • Auditing
    • Taxation
    • Management Accounting
  • Graduate degree in Business from an accredited AACSB program, with 15 semester hours in Accounting at the graduate level, including courses in:
    • Financial Accounting
    • Auditing
    • Taxation
    • Management Accounting
  • Bachelor’s degree in Business from an accredited AACSB program, including:
    • 24 semester hours in Accounting subjects at the undergraduate level or higher, including courses in:
      • Financial Accounting
      • Auditing
      • Taxation
      • Management Accounting
    • 24 semester hours in Business subjects at the undergraduate level or higher, excluding Accounting courses
  • Bachelor’s degree in Business from a regionally accredited institution, including:
    • 24 semester hours in Accounting subjects at the undergraduate level or higher, including courses in:
      • Financial Accounting
      • Auditing
      • Taxation
      • Management Accounting
    • 24 semester hours in Business subjects at the undergraduate level or higher, excluding Accounting courses

Recognized accreditation

Work Experience

The CNMI Board of Accountancy requires a work experience requirement of 1 year’s worth of work. This equates to 2,000 hours of experience over the course of no less than one year and no more than 3 years. This experience must be supervised by a CPA with a valid license. Acceptable experience includes providing one or more kinds of services involving the use of accounting or auditing skills, including the issuance of reports on financial statements, or one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters, or the equivalent

Ethics

The CNMI does not require an Ethics exam.

How to Apply for the CNMI CPA Exam

The CNMI is currently not accepting applications for the CPA Exam. Therefore, you will currently need to apply for the Exam in another state and then apply for the results to be transferred to the CNMI for licensure.

Fees

  • Transfer of Grades – $355
  • Reciprocal – $355
  • Firm – $425
  • Renewal (Individual) – $355
  • Renewal (Firm) – $425

Locations

N/A

How to Apply for the CNMI CPA License

The CNMI Board of Accountancy outsources their CPA licensing process to NASBA. In order to apply for licensure, you will need to:

  • Create an account with NASBA’s CPA Licensing Online Application system
  • Pass all four parts of the Uniform CPA exam within an 18-month timespan
  • Request that the Registrars of all accredited colleges and universities that you attended submit official copies of your transcript directly to NASBA’s CPA licensing services
  • Submit proof of fulfilling the experience requirements
  • Submit the application for transfer of licensure or grades form to NASBA
  • Pay the transfer of grades fee/reciprocal licensing fee
  • Pay the licensing fee

Practice Privilege for Out-of-State License Holders

Out-of-state CPA license holders may apply for a practice privilege permit on condition that:

  • CNMI is not their primary place of business
  • They hold a valid CPA license that is considered to be substantially equivalent to that of CNMI’s

Reciprocal License Application

Interstate License Endorsement

The CNMI recognizes interstate license reciprocity on condition that the following conditions are met:

  • They hold a valid CPA license that is considered to be substantially equivalent to that of CNMI’s
  • They have acquired 5 years of experience in public accountancy within the 10 years preceding their application for practice privilege
  • They pay the fee

International License Reciprocity

The CNMI relies on the IQAB’s evaluation for evaluation of foreign credential equivalency. This means that those bodies which form part of the IQAB’s Mutual Recognition Agreements (MRA) are eligible to apply for a reciprocal CPA license. The Board may also make accept ions for license holders whose credentials were issued from other bodies on condition that their licenses were earned through a similar examination process and that it awards them the same practice benefits as a CPA license does. Additionally:

  • The foreign body must allow for similar reciprocity for CNMI CPA license holders.  
  • Their education is considered to be substantially equivalent to that of the CNMI’s
  • They must have acquired 5 years of experience in public accountancy within the 10 years preceding their application for practice privilege
  • They pay the fee

License Renewal Requirements

THE CNMI Board of Accountancy requires their CPA license holders to renew their licenses on a triennial basis, between September 30th – December 31st. During this period, they are expected to fulfill a continued professional education (CPE) requirement of 120 CPE hours. They are also required to meet the following stipulations:

  • They must report 20 CPE hours annually
  • They must fulfill a 4 CPE hour requirement of a Board-approved n Ethics course
  • Non-resident CPAs will e considered to have fulfilled these requirements if they meet those of the state in which they are currently practicing. However, if there are no CPE requirements there, then they are required to meet those of the CNMI instead
  • They must pay the $355 renewal fee

State Board

CNMI Board of Accountancy