Table of Contents. About the Oklahoma Society of CPAs. CPA Exam Basics. Applying for, Scheduling and Taking the CPA Exam

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3 Table of Contents About the Oklahoma Society of CPAs CPA Exam Basics Applying for, Scheduling and Taking the CPA Exam Receiving Exam Scores and Applying for CPA Certification 2017 CPA Exam Changes/FAQs Eligibility Checklist This booklet is intended for informational purposes only. The OSCPA is not responsible for rule and regulation changes. Regularly check the Oklahoma Accountancy Board s website at for updates and changes. Sponsored by Wiley 1

4 About the Oklahoma Society of Certified Public Accountants Who We Are The Oklahoma Society of Certified Public Accountants (OSCPA) is the only statewide professional organization in Oklahoma for CPAs, CPA Exam candidates and accounting students. Formed in 1918 with a charter membership of 31, we unite approximately 5,500 CPAs in public practice, private industry, government and education and more than 500 CPA Exam candidates and accounting students. OSCPA Membership The OSCPA offers professional development and networking for accounting students and CPA Exam candidates at a low membership rate. Find out more and join today at Contact Us 1900 NW Expressway, Ste. 910 Oklahoma City, OK (405) or (800) membership@oscpa.com 2 The OSCPA s CPA Exam Guide

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6 CPA Exam Basics Entities involved with the CPA Examination Oklahoma Accountancy Board (OAB) The Oklahoma Accountancy Board is the governing body for administering the CPA Exam in Oklahoma. The Board determines eligibility, processes your application and is the CPA licensing entity. 201 NW 63rd, Ste. 210 Oklahoma City, OK (405) National Association of State Boards of Accountancy (NASBA) The National Association of State Boards of Accountancy serves as the gateway for all parties and maintains the National Candidate Database for all 54 jurisdictions. 150 Fourth Ave. North, Ste. 700 Nashville, TN (866) MY-NASBA American Institute of Certified Public Accountants (AICPA) The AICPA develops examination content, grades examinations and issues scores. 220 Leigh Farm Rd. Durham, NC (888) Prometric Prometric provides computer facilities to take the CPA Examination. (800) The OSCPA s CPA Exam Guide

7 CPA Eligibility and Transfer of Credits Requirements Bachelor s degree from an accredited college or university 150 total semester hours consisting of: ÂÂ76 upper-division level hours ÂÂ30 semester hours in accounting courses above principles and introductory accounting ÂÂOne course in auditing or assurance. The auditing or assurance course must have a concentration on external auditing standards including, but not limited to, Statements on Auditing Standards (SAS) ÂÂNine upper-division semester hours from any or all of the subjects of economics, statistics, business law, finance, business management, marketing, business communication, risk management, insurance, financial information systems and computer science. Oklahoma resident Good moral character, pass national criminal record search and adhere to the Professional Code of Conduct NOTE: Education earned outside of the United States must be evaluated by a national credential evaluation service before submitting the qualification application. Difference Between an Applicant and a Candidate An applicant is an individual who has applied for eligibility and has not been approved as a candidate. A candidate is an individual who is approved to sit for the exam. CPA Exam Review Course Provider Discounts Review course discounts are available to OSCPA Associate and Student members. For more information, visit Becker Professional Education ExamMatrix CPA Exam Review Gleim CPA Exam Review Roger CPA Review Sponsored by Wiley 5

8 Applying for, Scheduling & Taking the CPA Exam Step 1 Apply for Qualification with the OAB Complete and file the Application for Qualification with the OAB. This form determines your eligibility to become a candidate. Official transcripts, a photograph and a $50 fee are required with each application. Other documents may be required, depending on the circumstances. A background check is part of the qualification process. You will receive written notice of your approval status from the OAB within 10 business days. Step 2 File Exam Application with the OAB Once your eligibility is approved, complete the Candidate for Examination Application and file it with the OAB. Each application requires a $50 fee. You may apply for up to four sections of the exam with each application. There are no application deadlines. As a candidate, you design your own deadlines according to the date you want to sit for the exam. Please allow plenty of time to apply, make payment and schedule the exam. You may apply and sit for each section individually and in any order. Step 3 Authorization to Test (ATT) and Payment Coupons After your candidate application has been processed, the OAB will send an Authorization to Test (ATT) to NASBA notifying them of your approval to sit. NASBA will then send you a payment coupon. You are required to pay, schedule and sit for the exam by the Testing Expiration Date on your payment coupon. You can choose to receive your payment coupon by . If you decide to receive your information by , pay close attention to your spam and junk settings. Some Internet and providers may flag the information as junk or delete them completely. If you think there is a problem with your payment coupon or notice to schedule, call NASBA at (800) CPA-EXAM. 6 The OSCPA s CPA Exam Guide

9 Step 4 Notice to Schedule (NTS) Once NASBA has received full payment, they will issue a Notice to Schedule (NTS) for each exam section you are approved to take, which contains the examination section ID numbers. You should receive your NTS within four business days of paying your exam fee. Please note: These prices are subject to change and other fees may apply. Computer-Based Test Costs Section(s) Applied For Application Fee a Other Costs b Total Any ONE section $50.00 $ $ Any TWO sections $50.00 $ $ Any THREE sections $50.00 $ $ ALL sections $50.00 $ $ Other Costs Breakdown: AUD FAR REG BEC Hours (4) (4) (4) (4) AICPA Development & Scoring $90.00 $90.00 $90.00 $90.00 Prometric Test Fee $79.40 $79.40 $79.40 $79.40 Security Fee $6.05 $6.05 $6.05 $6.05 NASBA Database & Reporting $18.00 $18.00 $18.00 $18.00 $ $ $ $ Step 5 Scheduling Your Exam To schedule an exam section, visit and receive an confirmation, or call the Prometric Candidate Services Contact Center at (800) You may schedule your exam at any one of the Prometric sites located within the exam jurisdictions. You must have your NTS when scheduling your exam. You must allow at least six full business days between scheduling and taking the exam. To receive your first choice of date, time and location, it is recommended that you schedule at least 45 days before your preferred test date. Be prepared with a second and third preferred time and date. Oklahoma Prometric Testing Centers: 3545 NW 58th St., Ste. 210-C 3015 E Skelly Dr., Ste. 254 Oklahoma City, OK Tulsa, OK (405) (918) Sponsored by Wiley 7

10 CBT Testing Windows The computer-based test is offered in three-month windows. Each window contains two months in which testing is allowed and a third month in which testing is not allowed because the exam questions are being updated. If you fail or do not show up for a section, you can not re-apply or retake that section again within the same three-month testing window. CBT Window Schedule January 1 March 10 April 1 May 31* July 1 September 10 October 1 December 10 *Testing will close on May 31 to begin standard setting for the examination. If you do not sit for an exam section within 18 months of your initial approval or within 18 months of your last exam section, your candidacy will become inactive. Appointment Changes All changes to your exam appointments must be done through Prometric. The OAB cannot reschedule your appointment or refund your money if you fail to show up. If you reschedule and give less than 30 days notice, you will be charged rescheduling fees by Prometric. The OAB cannot waive these fees. No cancellations or reschedules are allowed within 24 hours of an appointment time. If you cancel an exam appointment and do not reschedule, your fees will not be refunded. If you do not show up for your exam appointment, you will be considered a no-show and will not receive a refund. Step 6 Take the Exam Checking In You must arrive at the Prometric test center 30 minutes before your scheduled exam time. If you are more than 30 minutes late, you will be considered a no-show and will not receive a refund. You must bring your NTS, which contains required login information. 8 The OSCPA s CPA Exam Guide

11 You will need two forms of ID. The primary form of ID must be government-issued and include a recent photo and signature (e.g., driver s license or passport). The second form of ID must have a signature (e.g., a different government-issued ID or a credit card). A Social Security card is not acceptable. Both forms of ID must be current. Expired forms of ID will not be accepted. At least one ID must show your name exactly as it is shown on the NTS. A digital photo and biometric fingerprint will be taken at the test center. You will be issued pre-numbered scratch paper and pencils. Taking Your Exam Upon check-in, you will be given a key to a locker. You will need to place all of your personal belongings (i.e., purses, wallets, ID, watch, keys) in this locker. You will not be allowed to bring your watch to the exam. The CBT exam clock will show you the time remaining for your exam. Your exam will be monitored by test center proctors. You will not be allowed to bring food, drinks or candy to your test workstation. A 15-minute break will be offered about halfway through each section. Completing Your Exam After completing the exam, log off the computer and return all scratch paper. Retrieve your personal belongings from your locker, return the locker key and sign out. If you experience any problems during the exam with computer equipment or the test process, you need to report it to testing center personnel before leaving the testing center and notify NASBA s Candidate Care Unite at candidatecare@nasba.org. Keep the Confirmation of Attendance form you receive after the examination, as it provides valuable contact information. Sponsored by Wiley 9

12 Receiving Exam Scores & Applying for CPA Certification Getting your Exam Scores Scores on all sections are not released at the same time or in the same order in which the sections are taken. Your scores will be released by the AICPA to NASBA and then released to the OAB at the end of each window in various timing stages. You can view your unofficial scores on the OAB website. To access your scores, you will need your OAB user ID and password. These items are assigned to you after initially applying with the OAB. You will receive your official scores via mail after the OAB certifies them. There will be a delay in the release of scores following the close of the initial testing window (second quarter of 2017). This delay is expected to be 10 weeks after the window closes. For the third and fourth quarters in 2017, scores will be released approximately 10 days after the testing window closes. Granting of Exam Credit You receive credit for an examination score of 75 or above. The credit you receive for each passed section is retained for a rolling 18-month period. Keeping Candidate Status To maintain active candidate status, you must sit for at least one exam section within 18 months of last sitting for a section. After you register for a section, you must show up. A no-show does not count as sitting for a section. Your payment coupon and/or NTS expiration dates cannot override or extend the 18-month rule. If you lose active status and would like to become active again, you will need to reapply for qualification and meet all current eligibility requirements. 10 The OSCPA s CPA Exam Guide

13 Retaking the Exam If you fail any section of the exam, you may retake that section in a future testing window. You may not repeat any section within the same three-month testing window. You may reapply for a failed section by using the OAB s online services at Applying for CPA Certification You need to successfully complete all four sections of the CPA Exam. You need one year of work experience in accounting. One year of experience is equal to 1,800 hours of full- or part-time employment. Your experience must be verified by a CPA, PA or other individual who is approved by the Oklahoma Accountancy Board. Your experience may be obtained up to four years prior to or after successfully completing the CPA Exam. You need to complete Professional Ethics: The AICPA s Comprehensive Course with a minimum score of 90 percent. The course is recommended for eight and a half hours of CPE credit. The OSCPA offers the course to all OSCPA members at a deeply discounted price. For more information, visit the CPE section of Becoming Certified Once a candidate s experience has been verified and approved by the Board, an application for certification will be sent. The application for certification and ethics exam results must be returned with the appropriate fee. Upon receipt by the Board, the successful candidate s name will be put on the next scheduled Board meeting agenda for approval. Notification of approval will be sent after the Board renders a decision. Questions? Oklahoma Accountancy Board 201 NW 63rd St., Ste. 210 Oklahoma City, OK (405) Sponsored by Wiley 11

14 Mobility vs. Reciprocity If you do not plan on staying in Oklahoma after you pass the CPA exam, you will need to check into mobility and/or reciprocity requirements for whatever state(s) you plan on working or living in. As you probably have realized by now, CPAs earn their licenses on a state by state basis. There is not a nationwide CPA license. Therefore, to not restrict CPAs from doing business across state lines, the AICPA and NASBA created the Uniform Accountancy Act (UAA) to provide a uniform approach to regulation of the accounting profession. Plus, mobility and reciprocity laws have been established in most states. Mobility is a privilege for CPAs practicing in public accounting that generally permits a licensed CPA in good standing from one state to do work in another state without having to apply for a license in that state. A majority of US states have adopted mobility laws; however, not all have. To learn more about mobility requirements for a specific state, visit CPAmobility.org or visit that state s accountancy board website. Reciprocity is a way for a CPA to obtain a license in a different state other than where he/she passed the CPA exam without having to retake the exam in that state. A reciprocal license is usually required of CPAs when they move to a new state and either plan to practice as a CPA or promote themselves as a CPA in that state. A reciprocal license is also required when a CPA does business in a particular state that does not have mobility laws. In these cases, you are required to apply for a reciprocal license through that state s accountancy board. For more information on reciprocal licenses, please visit the AICPA s website ( or visit a particular state s accountancy board website. 12 The OSCPA s CPA Exam Guide

15 2017 CPA Examination Changes Important Things to Know The new Exam will launch April 1, 2017 (second quarter 2017). The Exam will still include four sections: o Auditing and Attestation (AUD) o Business Environment and Concepts (BEC) o Financial Accounting and Reporting (FAR) o Regulation (REG) Each section is four hours long, totaling 16 hours. One 15-minute break will be offered halfway through each section. This break is optional and will not count against your time. Additional optional breaks will be offered, but these will count against your time. Task-based simulations (TBSs) questions will be used to test higherorder cognitive skills. TBSs will require candidates to determine what information is or is not relevant to the question. The Exam will consist of TBSs, multiple choice questions and written responses (BEC only). Candidates are able to combine scores from both formats of the Exam (Exam prior to 2017 changes and Exam including 2017 changes). Test scores will be delayed 10 weeks after the close of the initial testing window (second quarter of 2017). Scores for the third and fourth quarters of 2017 will be released approximately 10 days after these testing windows close. A cost increase is expected with the 2017 Exam due to the additional hour of testing for the BEC and REG sections. Sponsored by Wiley 13

16 Eligibility checklist On the OAB website, there is a full version of the checklist with a transcript worksheet if needed. FF Baccalaureate degree is posted on official transcript. FF Completion of a minimum of 150 semester hours of college education. FF Completion of 76 semester hours of upper-division level course credit. FF Completion of a minimum of 30 semester hours of accounting that is above principles of accounting or introductory accounting. FF Completion of at least one course in auditing or assurance. FF Completion of a minimum of nine semester hours from any or all of the subjects of economics, statistics, business law, finance, business management, marketing, business communication, risk management, insurance, financial information systems or computer science at the upper-division level. FF Currently a resident of the state of Oklahoma. FF Completion of the Application for Qualification (Please do not leave any questions unanswered). FF An official transcript for each college attended (required). FF Submit Qualification Application for Eligibility to the OAB. 14 The OSCPA s CPA Exam Guide

17 NOTES Sponsored by Wiley 15

18 NOTES 16 The OSCPA s CPA Exam Guide

19 Now what? The OSCPA provides great benefits to our associate members! From scholarships to career nights, and resume reviews to internships we re here to help you reach your goals. Did you know CPAs earn 10-15% more than the average accountant? Earning that designation will increase your annual income by thousands of dollars a year. It s worth it! Check out our member resources at Not a member join today!

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