Below, we have provided an overview of the requirements to either qualify as a Certified Public Accountant (CPA) in the state of Vermont or to acquire a Vermont CPA license. In addition to passing the CPA exam, which has a reputation for its difficulty, you must also meet the course credit, educational and work requirements.
In order to make this process easier for you to navigate, we have listed all of the relevant information below, as well as the contact information for the Vermont Board of Public Accountancy. We recommended confirming all information with the board to ensure that you qualify, and that the charges have not been updated since this piece was published.
Vermont has no minimum age requirement to sit the exam.
There is no residency requirement for the state of Vermont.
Vermont does not require US citizenship to take the CPA exam.
Vermont CPA candidates require a bachelor’s degree or higher with a major in either accounting or business from an accredited institution that is recognized by the board. In order to qualify to sit the CPA exam, they require 120 semester hours.
These college credit hours must include 30 semester hours of accounting and business courses, which must include:
- Financial and/or managerial accounting (6 Semester hours)
- Auditing (3 semester hours)
- US Taxation (3 semester hours)
- US Business law (3 semester hours)
Semester hours for licensure
To apply for licensure, the applicant will need to have acquired 150 semester hours. Of these, 42 semester hours will need to be in accounting, auditing and related subjects that the Board considers appropriate for professional accountancy.
- 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 on your official transcript
- Education earned at a regionally accredited community college or two-year degree granting institution is acceptable
Foreign students can have their credentials evaluated by either NASBA’s International Evaluation Services (NIES), or the National Association of Credential Evaluation Services (NACES). If they are found to be substantially equivalent, the applicant will be able to sit the Vermont CPA exam. Otherwise, they will need to meet the outstanding requirements and then resubmit them to their evaluation service.
The Vermont Board of Public Accountancy has a one-year work experience in requirement in order to apply for licensure. This equates to 2,080 hours of work that must be met in no less than one year and no more than four years prior to applying for licensure. This work experience requirement can be met in either public or private accountancy, but these hours must be registered on separate parts of the form. All hours must be supervised by a CPA whose license is valid and in good standing with their issuing Board.
The Vermont Board of Public Accountancy requires the candidate to take an ethics exam within two years of applying for your license. The board ONLY accepts the AICPA Professional Ethics Comprehensive Course “For Licensure.” The applicant must achieve 90% or higher in order to apply for licensure. This can be done before or after taking the CPA exam.
How to Apply for the Vermont CPA Exam
- Request the Registrars of colleges and universities to send your official transcripts directly to the CPA Examination Service (CPAES) either electronically to firstname.lastname@example.org or physically to Vermont Coordinator | CPA Examination Services | PO Box 198469 | Nashville, Tennessee 37219-8469
- Provide proof of being of good moral character
- If you are still in college and expecting to graduate within the 120 days of taking the exam, you must submit a certificate of enrollment from your college or university
- Any international credentials evaluation summaries should be submitted directly from the evaluation service provider to the CPAES
- Submit the application form to CPAES
- Pay the fees
|Initial Application Fee||$150.00|
|Auditing & Attestation (AUD) Exam (NASBA)||$226.15|
|Financial Accounting & Reporting (FAR) Exam (NASBA)||$226.15|
|Regulation (REG) Exam (NASBA)||$226.15|
|Business Environment & Concepts (BEC) Exam (NASBA)||$226.15|
Re-application fee $85.00.
All fees are non-refundable, but the exams can be rescheduled.
Any Prometric Testing Center
How to Apply for a Vermont CPA License
The Vermont Board of Public Accountancy processes their own CPA license applications. To apply for licensure, you must:
- Create an online account with the Board
- The select the ‘Apply for Individual Licensure’ option
- Have the sealed, official transcripts proving 150 semester hours (225 quarter hours) of education from their accredited institutions sent to the Vermont Board of Public Accountancy
- Have a bachelor’s degree or higher with an accounting concentration
- Pass all four sections of the Uniform CPA exam within an 18-month timespan and submit the results to the board
- Submit an Experience Verification Form directly to the board
- Provide proof of passing the AICPA ethics exam
- Pay $100.00 application fee
Interstate License Reciprocity
Vermont recognizes interstate license reciprocity on the basis of substantial equivalency, as outlined by NASBA’s National Qualification Appraisal Service, on condition that the following requirements are met:
- They submit the application fee and have paid the fee
- The submit the Verification of Licensure Standing Form
- They must submit proof of completing the AICPA ethics course
- Proof from the licensing jurisdiction that the applicant’s license is current
- Paying the application fee and License Endorsement fee
- They will cease practicing should their license expire in the issuing state or jurisdiction
An out-of-state CPA license holder or holder of a foreign license of substantial equivalence according to NASBA’s National Qualification Appraisal Service (NQAS) whose principal pace of business is not in Vermont will not require a permit or to pay a fee to the Vermont Board of Public Accountancy, provided that:
- They are working through a firm
- Their primary place of business is in the issuing state
- Their license with that state is current and in good standing
- They are only performing the following functions:
- A financial statement audit or other engagement to be performed in accordance with the Statements on Auditing Standards
- An examination of prospective financial information to be performed in accordance with the Statements on Standards for Attestation Engagements
- An engagement to be performed in accordance with PCAOB Auditing Standards
International License Reciprocity
Vermont recognizes the NASBA International Qualification Exam (IQEX) instead of the full CPA exam. This means that all license holders from associations that have made Mutual Recognition agreements with IQAB/NASBA are eligible for this route. You must also have been licensed for at least 3 years prior to applying for reciprocity with the Vermont Board, have passed the AICPA ethics exam and have submitted the application form and paid the fees.
The institutions that form part of the MRA are:
- South African Institute of Chartered Accountants
- CPA Australia
- Chartered Accountants Australia and New Zealand (CAANZ)
- CPA Canada (CPAC)
- Hong Kong Institute of Certified Public Accountants (HKICPA)
- Chartered Accountants Ireland (CAI)
- Instituto Mexicano de Contadores Publicos (IMCP)
- Institute of Chartered Accountants of Scotland (ICAS)
Other foreign license holders
License holders from other authorizing bodies will need to follow the same process outlined under ‘foreign educations’ above.’
NTS Validation Period
After your application is accepted and you have paid the exam fee, you will receive a Notice to Schedule (NTS.) You will then have 6 months in which to schedule the exam, or the NTS will expire. You will then need to pay the fee again. Therefore, make sure that you are able to take the exams within that time frame before registering.
License Renewal Requirements
Active license holders
Vermont license holders are required to renew their licenses biennially by Julys 31st of every odd year. During that time, license holders are required to accrue 80 hours of continued professional education (CPE.) Of these, 4 hours should be in Ethics and 8 in Accounting and Auditing. Three courtesy renewal reminders are sent to the email on file starting approximately 6 weeks prior to the renewal expiration date (September 30th of even years). Exceptions may be made to the renewal requirements in certain circumstances such as health or military service.
Other CE specifications:
- No more than 40 hours can be earned from instruction, with two hours being awarded per hour of class time. Repeat material is only acceptable if the subject matter is substantially changed
- No more than 20 hours can be earned from authoring published works
- College courses will be awarded 15 CPE per semester hour credit and 10 CPE per quarter hour
- Only full hours are accepted
- A maximum of 10 CPE can be carried over from one reporting period to the next
- Further details can be found here.
To apply for renewal, you will need to:
- Apply for renewal online
- Submit you CPE report form
- Pay the $220.00 renewal fee
Failure to renew a license by the expiration date will lead to the license is expiring. They will then need to apply to have their license reinstated or they will be unable to practice as a CPA. If it has been more than five years since the license lapsed, the applicant will need to demonstrate that they have maintained their professional competency in additional to meeting all the renewal requirements and CPE that they would have needed to fulfill during their absence in addition to paying the reinstatement fee. However, if a licensee fails to renew within 10 years of the license lapsing, the licensee must file a new application for licensure and satisfy the initial licensure requirements of the Board in order to obtain a license.
Vermont Board of Public Accountancy
- Mailing Address: S. Lauren Hibbert, Director | 89 Main Street, 3rd Floor | Montpelier, VT 05620-3402
- Phone: (802) 828-1505
- Email: SOS.OPRLicensing2@Vermont.gov
- Website: https://sos.vermont.gov/accountancy/
- Hours: Mon-Fri: 07:45 – 04:30