The journey to becoming a Certified Public Accountant (CPA) in Oklahoma is marked by rigorous standards and a commitment to professional excellence. In a significant move to streamline this path, Oklahoma Governor Kevin Stitt signed SB 171 into law on April 19, 2023. This legislation is designed to modernize the process for sitting for the CPA Examination in the state, notably allowing accounting graduates to take the CPA Exam during their post-graduate studies.
As Blaine Peterson, CPA, President and CEO of the Oklahoma Society of Certified Public Accountants (OSCPA), emphasizes, “As businesses and individuals continue to navigate a complex financial landscape, the demand for skilled CPAs has never been greater. Oklahoma must keep up with this demand, as it is crucial in strengthening the quality of our workforce”.
This article delves into the specifics of the Oklahoma CPA exam and license requirements, reflecting these recent legislative changes and the state’s ongoing efforts to meet the growing demand for qualified CPAs in an increasingly complex financial landscape.
Oklahoma CPA License General Requirements
To be eligible to sit for the CPA exam, candidates must first fulfill these qualifications and requirements:
- Minimum age: None
- U.S. Residency NOT Required
- State Residency Required
CPA candidates in Oklahoma, like in all other 50 states, are required to fulfill 150 academic hours for CPA licensure. Meeting this Uniform Accountancy Act 150-hour requirement grants Oklahoma CPAs the ability to practice across states, allowing them the privilege of working in any state without needing to secure an additional practicing license.
- Bachelor degree or higher
- 150 semester hours
- Accounting course requirements:
- 30 semester hours of accounting (intermediate/advanced courses)
- 1 course must be in audit or assurance
- Business course requirements: 9 hours (upper-division)
- A minimum of 76 out of the 150 hours must be in upper-division courses
Oklahoma CPA Exam License Requirements
It’s important to note that, as discussed in many CPA Reddit threads, In Oklahoma, candidates are allowed to take the CPA exam after completing 120 credit hours of education, but they must complete a total of 150 credit hours to be eligible for CPA licensure.
Allowing candidates in Oklahoma to sit for the CPA exam with 120 credit hours, while still requiring 150 credit hours for licensure, offers several key benefits:
- Early Exam Access: Candidates can begin their CPA exam process earlier, accelerating their career advancement.
- Flexibility: This separation allows for more manageable planning between academic commitments and exam preparation.
- Reduced Pressure: Candidates can focus solely on the exam without the immediate need to complete the full 150 credits.
- Streamlined Path to Licensure: Passing the exam early enables a smoother transition to meeting other licensure requirements, such as work experience.
This approach provides a balanced path to CPA certification, maintaining high standards while offering greater accessibility and convenience.
- 1 year of experience in public or non-public accounting verified by an active CPA (1,800 hours of work experience.)
- For details, please check out Oklahoma Work Experience Requirements
- Passing of the AICPA ethics exam (Cost of course is $299 or $245 for AICPA or CIMA members)
Additional CPA Requirements
- Pass all 4 sections of the CPA exam with a score of 75% or higher
- Complete verified accounting work experience
- Pass AICPA Ethics Exam
- Fill out and submit all required CPA license application paperwork
- Pay the CPA license application fee
Oklahoma CPA Exam Fees
The cost to take all four sections of the CPA exam in Oklahoma is $1,379.20 plus the initial application fee.
**Important Note: You should not apply and pay for exam sections that will not be taken within six months because your Notice to Schedule (NTS) in Oklahoma expires 6 months after issuance.
CPA Exam Updates in Oklahoma With the Evolution Initiative
The CPA Exam in Oklahoma is undergoing significant changes as part of the CPA Evolution Initiative, a joint effort by the AICPA and NASBA. This initiative aims to ensure that the CPA Exam remains relevant in the rapidly evolving business world and adequately prepares candidates for the demands of the profession.
Under the CPA Evolution Initiative, a transition policy has been announced for the 2024 CPA Exam. This policy is particularly relevant for candidates planning to begin the CPA Exam in the near future. The Oklahoma Accountancy Board has provided specific guidelines and information for candidates regarding these changes. The transition policy is designed to accommodate the new structure and content of the CPA Exam, aligning it with the evolving skills and competencies required in the accounting profession.
The CPA Evolution Initiative focuses on integrating more technology and analytical skills into the CPA curriculum and exam. The updated exam will reflect a deeper emphasis on technology’s role in accounting and auditing, ensuring that newly licensed CPAs possess the necessary knowledge and skills to protect the public interest in a digital age. The specifics of these changes and how they will be implemented in the exam can be explored further on resources provided by the Oklahoma Society of CPAs and NASBA.
Expert Tips to Become a CPA in Oklahoma
In my journey, I found that early planning of my education path was essential. It’s also beneficial to engage in local educational resources and workshops. These not only provide valuable learning but also offer networking opportunities that can be instrumental in your career.
Preparing for the CPA exam requires dedication and a strategic approach. I recommend a mix of study materials, including online courses and practice exams. While I didn’t take the exam in Oklahoma, I know that many states have their own specific regulations and laws, so it’s important to include these in your study plan. Additionally, staying informed about changes in the CPA landscape, such as the CPA Evolution Initiative, is vital. This initiative is reshaping the CPA exam and licensure requirements to better align with the evolving business environment.
Lastly, don’t overlook the importance of soft skills like communication and ethical judgment. In my experience, these are as crucial as technical knowledge. Also, being tech-savvy is increasingly important in today’s digital accounting landscape. Joining professional organizations, even if not specific to Oklahoma, can provide invaluable resources and support. Remember, the path to becoming a CPA is a journey of continuous learning and adaptation, no matter where you are.
Local Professional CPA Organizations and Networks
Oklahoma offers several professional CPA organizations and networks that provide support, resources, and networking opportunities for CPAs. These organizations play a crucial role in the professional development and career advancement of CPAs in the state.
One notable organization is the Oklahoma Society of Certified Public Accountants (OSCPA), which offers a range of resources including continuing education, advocacy, and networking events. The OSCPA is instrumental in keeping its members up-to-date with the latest industry trends and legislative changes affecting the accounting profession.
Another important network is the Oklahoma Accountancy Board (OAB), which regulates the accounting profession in the state. The OAB ensures that CPAs adhere to the highest standards of ethical and professional conduct, thereby maintaining the integrity of the profession in Oklahoma.
Oklahoma Exam Information and Resources
For more details, please contact:
201 NW 63rd St # 210,
Oklahoma City, OK 73116
Email: [email protected]
Now that you have started the CPA exam application process, your next step is to find a CPA review course that fits your budget, learning style, and schedule. It can take several weeks for your application to be processed, so don’t waste that valuable time waiting to hear back from your state board. If you start studying now, you will get a nice jump start on the material and will be better prepared to pass your first CPA exam!
Candidates must submit an application through the Oklahoma Accountancy Board. This involves providing educational transcripts and paying an application fee. Upon approval, candidates will receive a Notice to Schedule (NTS) allowing them to schedule their exam sections.
While ethics requirements are not a part of the CPA exam itself, Oklahoma requires candidates to complete the AICPA’s Comprehensive Ethics Course for CPA licensure.
The CPA exam sections can be retaken each quarter during the CPA exam testing windows. There are no limits on the number of times a candidate can retake a failed section, as long as all four sections are passed within the 30-month period.
No, work experience is not required to sit for the CPA exam in Oklahoma. However, work experience is required for CPA licensure post-examination.
Candidates must have a bachelor’s degree and complete 150 semester hours of education, including specific accounting and business courses, as per the Uniform Accountancy Act.
Bryce Welker is a regular contributor to Forbes, Inc.com, YEC and Business Insider. After graduating from San Diego State University he went on to earn his Certified Public Accountant license and created CrushTheCPAexam.com to share his knowledge and experience to help other accountants become CPAs too. Bryce was named one of Accounting Today’s “Accountants To Watch” among other accolades. As Seen On Forbes