American Institute of Certified Public Accountants (CPA)

Why should you pursue this?

• The only credential legally required to sign audit reports in the United States — a non-negotiable for US public accounting practice.

• Recognised and actively sought by Big Four firms, the Fortune 500, government agencies, and US-headquartered multinationals globally.

• Mastery of US GAAP is a differentiator for anyone working with US-listed companies, SEC filings, or US investors — regardless of country of work.

• CPAs earn significantly more than non-licensed accountants: average CPA salary is $92,795/year in the US vs. $61,480 for non-licensed accountants.

• 2026 update: AICPA and NASBA have approved a new Bachelor's + 2-year experience pathway as an alternative to the traditional 150 credit-hour requirement, making it more accessible.

Source: AICPA/NASBA New CPA Pathway Official Announcement

Eligibility

Education Requirements (to sit the exam vs. to become licensed differ by state):

Requirement	Traditional Path	New 2026 Path (selected states)
To SIT the exam	120 credit hours (bachelor's degree equivalent)	Same
To become LICENSED	150 credit hours (bachelor's + 30 extra credits)	Bachelor's degree (120 credits) with accounting concentration + 2 years experience
Specific coursework	24+ hours in accounting; 24+ in business (varies by state)	Accounting concentration required
Graduate degree alternative	Master's in Accounting/Business satisfies 150 hours	Master's + 1 year experience
Work experience	1–2 years under a licensed CPA supervisor	2 years under a licensed CPA supervisor
Ethics exam	Required in most states (AICPA or state-specific)	Required in most states

International candidates: Can sit the CPA exam through NASBA's International CPA Examination Program. Testing available in 15 countries outside the US. Indian degrees typically provide 90–120 credits; most Indian candidates need a bridge programme or master's degree to reach 150 credits.

Source: AICPA/NASBA Uniform Accountancy Act | Becker CPA State Requirements | CPA Eligible State Directory

Career paths after completion

Career Path	Roles	Notes
Public Accounting	Auditor, Tax Advisor, CPA Partner, Advisory Specialist	Big Four + mid-tier firms; mandatory CPA for signing audits
Corporate Accounting	CFO, Controller, VP Finance, Internal Audit Head	Fortune 500 and all US corporates
Forensic / Fraud	Forensic Accountant, CFE, Financial Investigator	FBI, IRS, litigation support
Tax Advisory	International Tax Manager, Transfer Pricing Specialist	Global corporations; Big Four tax
Government / Regulatory	IRS Revenue Agent, SEC Examiner, GAO Auditor	US federal and state government
Information Systems	IT Audit, Cybersecurity Finance, SOX Compliance	Tech companies, financial institutions
Non-Profit / Education	CFO/Controller for non-profits; Accounting Professor	Universities, charities, foundations
Consulting	Transaction Advisory, Valuation, Risk Advisory	Big Four advisory; boutique firms

Exam structure & subject breakdown (level-wise)

The CPA Exam (2024–present) consists of 4 sections: 3 Core sections (mandatory) + 1 Discipline section (your choice).

Core Sections (All Candidates Must Pass):

Section	Full Name	Duration	Format	Key Topics
AUD	Auditing and Attestation	4 hours	MCQ + Task-Based Simulations	GAAS, audit procedures, internal controls, ethics
FAR	Financial Accounting and Reporting	4 hours	MCQ + Task-Based Simulations	US GAAP, IFRS overview, governmental accounting, non-profit
REG	Taxation and Regulation	4 hours	MCQ + Task-Based Simulations	Federal tax (individual + corporate), business law, ethics

Discipline Sections (Choose ONE):

Section	Full Name	Duration	Key Topics	Best For
BAR	Business Analysis and Reporting	4 hours	Advanced financial reporting, data analytics, financial statement analysis	Financial reporting roles; corporate finance
ISC	Information Systems and Controls	4 hours	IT audit, cybersecurity, data management, SOX	IT audit, fintech, data-driven roles
TCP	Tax Compliance and Planning	4 hours	Advanced individual and corporate tax, tax research	Tax specialisation; tax advisory careers

Passing score: Minimum 75 on each section (0–99 scale). All 4 sections must be passed within 30 months (or 36 months in some states).

Source: AICPA CPA Exam Overview (Official)

Fees (registration + exam + membership)

Fees vary by state. The following are approximate national averages. Always verify with your specific state board at nasba.org

Fee Type	Approximate Amount (USD)	Notes
Application Fee (to state board)	$50–$300	One-time; varies significantly by state
CPA Exam Fee (per section)	$244.80	NASBA fee; same nationally for all 4 sections
Total Exam Fees (4 sections)	~$979	NASBA testing fees only
International Testing Fee (per section)	Additional $330–$510 for non-US centres	For candidates testing outside USA
State Board Evaluation (international)	$150–$300	Credential evaluation for non-US degrees
Ethics Exam (if required)	$150–$250	AICPA ethics exam; state-specific amounts vary
CPA Licence Application	$50–$200	Paid to state board post-exam
AICPA Membership (Annual)	$375–$595	Optional but recommended
Continuing Education (CPE)	$500–$2,000/year	40 hours/year required to maintain licence
Total Cost Estimate (all-in)	$3,000–$8,000	Including coaching; varies by state and study materials

Source: NASBA CPA Exam Fees | Becker CPA Fees Breakdown

Study timeline recommendations

Scenario	Recommended Duration	Strategy
Full-time student (final year/post-grad)	6–9 months	One section every 6–8 weeks; sit NTS sections first
Working professional	12–18 months	One section per quarter; use evenings and weekends
International candidate (preparation + credential evaluation)	18–24 months	Add 3–6 months for evaluation process and credit gap
Per section study time (recommended)	350–450 hours total	FAR needs most time (~150 hrs); AUD and REG ~100 hrs each

Critical tip: Pay for and schedule only one or two sections at a time. NTS (Notice to Schedule) expires; if you miss the window, you forfeit the exam fee.

Passing percentages

Section	2024 Pass Rate (approx.)	2025 Pass Rate (approx.)	Notes
AUD (Auditing)	~47–52%	~47–52%	Conceptual; most candidates find it manageable
FAR (Financial Accounting)	~38–44%	~40–45%	Hardest section; most content-heavy
REG (Tax & Regulation)	~57–62%	~55–60%	Highest pass rate; structured content
BAR (Business Analysis)	~50–55%	~50–55%	Newer section (2024); stable pass rates
ISC (Info Systems)	~60–68%	~58–65%	Relatively high pass rate
TCP (Tax Compliance)	~55–62%	~55–60%	Strong for tax specialists

Source: AICPA CPA Exam Pass Rates | Becker CPA Pass Rate Data

Global student statistics (top countries)

• Approximately 75,000–85,000 candidates sit CPA exams annually.

• Testing is now available in 15 countries outside the US through NASBA's international programme.

• International exam sites: India, UAE, UK, Germany, Japan, South Korea, Singapore, Australia, Brazil, Mexico, Kuwait, Bahrain, Lebanon, and more.

• Top international candidate countries: India, South Korea, Japan, China, Canada.

• ~200,000+ active CPA licence holders in the US; total including international is significantly higher.

Source: NASBA Candidate Performance Report

Exam schedule calendar

The CPA exam is continuously available at Prometric test centres (not fixed sittings). Candidates test when ready within the validity of their NTS (Notice to Schedule):

Quarter	Testing Available	NTS Validity	Notes
Q1 2026	January–March	6 months from NTS issue	Book early; Prometric slots fill quickly
Q2 2026	April–June	6 months from NTS issue	Popular testing season
Q3 2026	July–September	6 months from NTS issue	Many candidates target after academic year
Q4 2026	October–December	6 months from NTS issue	Year-end rush; book well in advance

Important: The 30-month window to pass all 4 sections begins when you pass your first section. Plan strategically.

Source: Prometric CPA Exam Scheduling | NASBA Official CPA Exam Calendar

Rescheduling rules

• Rescheduling at Prometric: You can reschedule your exam appointment at Prometric at no charge up to 30 days before your appointment. Within 30 days: a fee may apply. Within 24 hours: no refund.

• NTS Expiry: If your NTS expires before you sit the exam, you forfeit the exam fees and must re-apply and re-pay. Always sit before your NTS expiry.

• Section retake: No waiting period between attempts. Re-apply to your state board and receive a new NTS to resit a failed section.

• 30-month clock: Your 30-month window to pass all sections begins when you pass your first section. If you don't complete all sections in time, you lose the credit for sections passed most than 30 months ago.

Source: NASBA NTS and Scheduling Policy

Scholarship options

• AICPA Foundation Scholarship: Awards up to $5,000 to accounting students. Requires AICPA student member status. Source: aicpa-cima.com/scholarships

• State CPA Society Scholarships: Most US state CPA societies offer annual scholarships ($1,000–$5,000) to accounting students. Check your state society website.

• NASBA CPA Exam Scholarship: NASBA periodically offers exam fee assistance to qualifying candidates. Check nasba.org

• University Scholarships: Many US universities with strong accounting programmes offer CPA exam fee support to graduating seniors. Ask your academic advisor.

• Employer Sponsorship: Big Four and major accounting firms routinely fund CPA exam fees and study materials for new hires in exchange for continued employment.

Coaching & prep providers

Provider	Format	Approx. Cost (USD)	Pass Rate Claim	Website
Becker CPA Review	Online + adaptive learning	$2,499–$3,399 (all 4)	~94% pass rate for students	becker.com
Roger CPA Review (UWorld)	Video-intensive online	$1,599–$2,999 (all 4)	High engagement style	accounting.uworld.com
Wiley CPAexcel	Online; strong question bank	$1,999–$2,499 (all 4)	Flexible pacing	efficientlearning.com
Surgent CPA Review	AI-adaptive; time-efficient	$1,499–$2,499 (all 4)	Claims 88 days average pass	surgentcpa.com
Gleim CPA Review	Comprehensive; great mocks	$999–$1,699 (all 4)	Strong analytics feedback	gleim.com
Miles Education (India)	India-focused; online + class	INR 80,000–150,000	Strong India placement	mileseducation.com
Simandhar Education (India)	Online + classroom (India)	INR 70,000–120,000	India-specific guidance	simandhar.com

Recommended books beyond official curriculum

• Intermediate Accounting — Kieso, Weygandt, Warfield: The definitive FAR preparation text; used in virtually every US accounting programme.

• Federal Taxation — Pratt & Kulsrud: Comprehensive REG tax preparation; detailed individual and corporate tax coverage.

• Auditing & Assurance Services — Messier, Glover, Prawitt: Strong AUD preparation; covers risk-based audit methodology in depth.

• FASB Accounting Standards Codification (ASC) — Official FASB: Free online access at asc.fasb.org. Primary reference for all US GAAP.

• The CPA Exam: How to Pass on Your First Try — Stephanie Ng: Practical study strategies and exam logistics from a successful candidate.

• Financial Accounting Theory — William Scott: Excellent background for understanding the conceptual framework underlying US GAAP and IFRS.

Top Hiring Firms

Category	Top Firms / Organisations
Big Four (Require/Strongly Prefer CPA)	Deloitte, PwC, Ernst & Young, KPMG
Second Tier	BDO USA, Grant Thornton, RSM US, CBIZ, CohnReznick
Fortune 500 Corporates	Apple, Amazon, Google, Microsoft, JPMorgan, Goldman Sachs, Berkshire Hathaway
Government / Regulatory	IRS, SEC, FDIC, FBI Financial Crimes, GAO, PCAOB
Financial Services	Bank of America, Wells Fargo, Citibank, Fidelity, Vanguard, BlackRock
Healthcare / Non-Profit	Mayo Clinic, Kaiser Permanente, American Red Cross, large university finance offices
Tech Companies	Oracle (NetSuite ERP), SAP, Intuit (TurboTax advisory), Salesforce Finance

Salaries by Country

Country	Entry Level	Mid-Level	Senior / Partner
USA	$55,000–75,000	$85,000–140,000	$150,000–400,000+
India (with CPA)	INR 8–15 LPA	INR 18–40 LPA	INR 50–120 LPA
UAE	AED 120,000–200,000	AED 250,000–450,000	AED 500,000–1M+
Canada	CAD 60,000–85,000	CAD 100,000–170,000	CAD 200,000–450,000+
UK	GBP 40,000–60,000	GBP 70,000–120,000	GBP 140,000–350,000+
Singapore	SGD 70,000–100,000	SGD 120,000–200,000	SGD 250,000–500,000+
Australia	AUD 70,000–95,000	AUD 110,000–170,000	AUD 200,000–420,000+

Sources: Becker CPA Salary Data | Glassdoor USA CPA Salaries | AICPA Compensation Survey