American Institute of Certified Public Accountants (CPA)

•     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

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

International candidates: Can sit the CPA exam through NASBA's International CPA Examination Program. Testing available in 19 countries and territories 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 | CPA Eligible State Directory

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

Core Sections (All Candidates Must Pass):

Discipline Sections (Choose ONE):

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)

This structure — three Core sections (AUD, FAR, REG) plus one Discipline (BAR, ISC or TCP) — is known as CPA Evolution, the exam model launched in January 2024.

The per-section exam fee ($268.59) is the same nationwide; only application and evaluation fees vary by state. The following are approximate national averages. Always verify with your specific state board at nasba.org

Source: NASBA CPA Exam Fees

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.

Source: AICPA CPA Exam Pass Rates

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

•     Testing is now available in 19 countries and territories outside the US through NASBA's international programme.

•     International exam sites: Bahrain, Bermuda, Brazil, Egypt, England, Germany, India, Ireland, Israel, Japan, Jordan, Kuwait, Lebanon, Nepal, the Philippines, the Republic of Korea, Saudi Arabia, Scotland and the United Arab Emirates.

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

•     about 650,667 actively licensed CPAs in the US (NASBA Accountancy Licensee Database, 27 August 2026); total including international is significantly higher.

Source: NASBA Candidate Performance Report

The CPA Exam has no single annual schedule – but Core and Discipline sections work differently, and the whole system changes in July 2027.

Core sections (AUD, FAR, REG) are on continuous testing: you can schedule them at any time of year, and scores are released on a rolling cycle roughly two weeks after your test data is processed.

Discipline sections (BAR, ISC, TCP) are not continuous. They are administered only in the first month of each quarter:

From July 2027 the exam moves to a new platform, and Core sections switch to quarterly windows too:

If you are planning a 2027 attempt, this matters: the flexibility of booking a Core section any week disappears in July 2027.

You must pass all four sections within 30 months of the date your score is released for the first section you pass (UAA Model Rule 5-7, where the jurisdiction has adopted it). Some states allow up to three years – check your own state board, since the window is set by them and not by AICPA.

Testing is at Prometric centres. AICPA notes that all dates are subject to change.

Source: AICPA – CPA Exam score release timetables, aicpa-cima.com. Verified 17 October 2026.

•     Rescheduling at Prometric: You can reschedule or cancel your Prometric appointment free of charge if you do it at least 61 days beforehand. 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 more than 30 months ago.

Source: NASBA NTS and Scheduling Policy

•     AICPA Foundation Scholarship: Awards up to $10,000 (AICPA Foundation Scholarship for Future CPAs); ~$5,000 is the average award across programs. 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.

•     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.

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

A CPA is a Certified Public Accountant licensed by a US State Board of Accountancy. This is the distinction most candidates miss: the AICPA writes the Uniform CPA Examination and NASBA helps administer it, but neither of them licenses you. Your state board does.

To be certified you generally need all three of the following, in whatever form your own jurisdiction defines them:

• Pass the exam — all four sections (three Core plus one Discipline) with a score of at least 75 in each.
• Meet the education requirement set by your state board.
• Meet the experience requirement, and any ethics requirement your board imposes.

Because the licence is granted by state, the details vary: education, experience, residency, and how long your exam credit stays valid are all determined by your board rather than by the AICPA. Passing all four sections makes you exam-complete; it does not by itself make you a CPA.

Check your own jurisdiction through NASBA and your state board before assuming any requirement applies to you.

Professional Career Club offers around 2,900 free CPA practice questions with step-by-step explanations. You can answer a question and read the full explanation before creating an account; a free account (email or Google sign-in) unlocks the rest of the question bank and the CPA community forum. No payment is required at any stage.

Start here: Free CPA practice questions.

One note on how to use them. The CPA is scored on a scaled 0–99 range where 75 is the pass mark, and AICPA is explicit that a score is not a percentage correct. That means you cannot read your readiness straight off a practice percentage — what practice questions are genuinely good for is finding the topics you get wrong, and building the habit of working under time pressure.