#CareerBytes: How Indian students can become US CPAs
Chartered Accountancy (CA) is one of the most sought-after professions. Though it is considered India's highest accounting degree, it is not recognized in all countries. The Certified Public Accountant (CPA) course, which is the highest accounting qualification in the US, is recognized globally. CPAs are considered the premier professionals in the field of accountancy. Here's how Indian students can pursue the CPA course.
The CPA course is administered by the American Institute of Certified Public Accountants (AICPA). It is also the largest accounting body in the world and has a presence in 122 countries. The CPA course is perfect for those who want to build a career in accounting at a global level. The program offers international recognition for accounting & finance professionals.
Candidates having a graduation degree are eligible for CPA. Indian students must possess any of these qualifications: MCom, MBA, Member of Institute of Chartered Accountants of India, Member of Institute of Cost Accountants of India, Member of Institute of Company Secretaries of India. Indian Chartered Accountants holding BCom are also accepted by some states in the US. Eligibility criteria vary from state to state.
Eligible candidates can apply for CPA Exam after getting their educational requirements verified. Once the application is accepted, candidates are issued a Notice To Schedule (NTS) for taking a paper/section of CPA Exam. Every section/paper needs a new NTS. After clearing all four sections, students have to pass AICPA Ethics Exam, fulfill the work experience requirement, pay licensure fees, and get their CPA license.
In order to become a CPA, candidates are required to pass all the exams conducted by the AICPA. The CPA Exam is a computer-based test conducted at designated centers in various countries. The exam consists of four papers/subjects: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation. These four parts should be completed within 18 months.
The US CPA course is an expensive program. For taking the CPA Exam, international candidates are charged $356.55 (Rs. 25,400 approximately) per section. Apart from the exam fees, candidates must also pay the application fees, review course expenses, registration fees, Ethics Exam fees, CPA licensing fees, and CPA CPE (Continuing Professional Education) expenses, which may vary from state to state.