Wyoming CPA Exam & License Requirements

As this Reddit thread debates, becoming a CPA might just be one of the most difficult career journeys (with actuary and sommelier also in the running.) Still, it’s a worthwhile pursuit. Especially while the accounting profession facing a critical shortage.

As highlighted by Jacqueline A. Burke, PhD, CPA, and Ralph S. Polimeni, PhD, CPA in their article “The Accounting Profession Is in Crisis”, a 33% drop in CPA exam candidates from 2016 to 2021 shows a steep decline. This coupled with the fact that roughly 75% of AICPA members are nearing retirement age, paints a picture of an urgent need for new, skilled professionals in the field.

Wyoming, with its specific requirements of 150 credit hours and one year of public accounting experience verified by an active US CPA, offers a unique pathway to becoming a part of this noble profession. As Bryce Welker, CPA, a regular contributor to Forbes and other prestigious publications, obtaining a CPA license in Wyoming is not just about meeting these educational and experiential thresholds. It’s about stepping into a role that is increasingly vital in today’s business landscape.

So, how do you do it?

Let’s look at the process from start to finish.

Steps to Get a CPA License in Wyoming

Embarking on the journey to CPA licensure in Wyoming involves a series of well-defined steps, each crucial to achieving this prestigious designation. The pathway to becoming a Certified Public Accountant in Wyoming is marked by the following milestones:

1. Meet Education and Verified Work Requirements: Aspiring CPAs in Wyoming must first satisfy specific educational prerequisites. This includes obtaining a minimum of 150 credit hours in relevant coursework. Additionally, candidates must gain practical experience through 1 year of full-time work in public accounting, verified by an active CPA licensee.
2. Pass All Sections of the CPA Exam: This is a pivotal step in the licensure process. The CPA Exam is known for its rigorous nature, testing a wide range of accounting knowledge and skills. Considering a CPA review course is highly recommended to navigate through this challenging phase effectively.
3. Complete the AICPA Ethics Exam: This exam is essential to ensure that all CPAs adhere to the high ethical standards expected in the profession.
4. Fill Out and Submit All Required CPA License Application Paperwork: Accuracy and thoroughness in completing and submitting the necessary paperwork are vital to avoid any delays in the licensure process.
5. Pay the CPA License Application Fee: This is the final step in the application process, marking your formal entry into the pool of candidates seeking CPA licensure in Wyoming.

Eligibility Requirements for Wyoming CPA Candidates

To be eligible to sit for the CPA exam in Wyoming, students must meet the following qualifications and requirements:

• Minimum Age: 18 years.
• U.S. Residency: Required.
• State Residency: Not required for Wyoming CPA licensure.

This comprehensive approach, combining educational achievement, practical experience, rigorous examination, and ethical grounding, ensures that CPAs in Wyoming are well-equipped to uphold the standards and responsibilities of the accounting profession.

Education Requirements

1. Credit Hours: Candidates must complete a minimum of 150 credit hours through a combination of undergraduate and graduate education.
2. Accounting Courses: The curriculum should include a substantial amount of accounting coursework, typically around 24 to 30 semester hours.
3. Business-Related Courses: Candidates are also expected to complete coursework in business-related subjects, usually amounting to around 24 to 30 semester hours.
4. Accredited Institutions: It’s important that the coursework is completed at accredited colleges or universities.
5. Ethics Course: After completing the educational requirements, candidates must complete the AICPA’s 8-hour approved ethics course, “Professional Ethics: AICPA’s Comprehensive Course for licensure.”

Work Experience Requirements

1. Verified Work Experience: Candidates must have relevant work experience in accounting. This can be under the supervision of an active CPA or through equivalent experience under a non-CPA.
   • Experience Under a CPA: Complete the Employer Affirmation form for verification by the employer.
   • Equivalent Experience Under a Non-CPA: Review Chapter 3 of the Board rules for acceptable types of experience, complete the appropriate affidavit (Equivalent Experience or Teaching Experience), and provide samples of work product.

Additional Requirements and Application Process

1. Submission of Exam Scores and Transcripts: Provide exam scores and official final college or university transcripts sent directly to the Board office.
2. Application Fee: A fee of $225 is applicable for the CPA licensure application.
3. Original Certificate Application: Complete the Original Certificate Application and the Verification of Lawful Presence form.
4. Payment Options: Pay the application fee by credit card or check, and submit the application electronically or by mail.
5. Submission of Application: Application packets can be submitted electronically by email or mailed to the Board office. Employer Affirmation, Official Transcripts, and Authorization for Interstate Exchange must be sent directly to the Board staff.

Ethics Exam Requirement

The ethics requirement is a crucial component of the CPA licensure process in Wyoming, emphasizing the profession’s commitment to high ethical standards. Here’s a detailed look at what this entails:

1. AICPA Ethics Course: Candidates are required to complete the “Professional Ethics: AICPA’s Comprehensive Course for licensure.” This is an 8-hour course designed by the American Institute of Certified Public Accountants (AICPA).
2. Course Content: The course covers a wide range of ethical topics and dilemmas that CPAs might face in their professional careers. It includes the AICPA Code of Professional Conduct and focuses on the application of ethical judgment and decision-making.
3. Objective: The primary goal of this requirement is to ensure that all CPAs understand and can adhere to the ethical standards of the profession. This understanding is crucial for maintaining the integrity and trustworthiness of the accounting profession.

Completion and Verification

1. Certificate of Completion: Upon finishing the course, candidates will receive a certificate of completion. This certificate must be submitted as part of the CPA licensure application process.
2. Verification with Application: The certificate of completion for the ethics course must be attached to the CPA licensure application when submitted to the Wyoming Board of CPAs.

Wyoming CPA Exam Fees

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Obtaining a CPA license in Wyoming involves various fees throughout the application, examination, and licensing process. Here’s a consolidated overview of the typical fees that candidates can expect:

Application Fees

1. Original Certificate Application Fee: For obtaining the original CPA license in Wyoming, candidates must pay an application fee of $225, covering the processing of the licensure application.

Examination Fees

1. CPA Exam Section Fees: Each section of the CPA Exam typically costs $344.80. This fee applies to each of the four sections of the exam: Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Regulation (REG). Candidates usually take these sections at different times, so the fee is paid per section each time a candidate registers.
2. Re-examination Fees: If a candidate needs to retake any section of the CPA Exam, the fee for each re-examination attempt is typically $344.80.

Ethics Exam Fee

1. AICPA Ethics Course Fee: Candidates are required to complete the AICPA Ethics Course, which has an associated fee. The cost of the course is typically around $299, or $245 for AICPA members. Candidates should verify the current fee on the AICPA website.

Licensing Fees

1. Initial License Fee: Upon passing the CPA Exam and meeting all other requirements, candidates must pay a fee to obtain their initial CPA license. The amount of this fee should be confirmed with the Wyoming Board of CPAs.
2. Renewal Fees: CPAs are required to renew their licenses periodically. The renewal fee varies and should be checked with the Wyoming Board of CPAs.

These fees are integral to the CPA licensure process in Wyoming, covering the costs associated with application processing, examination administration, and maintaining the standards of the CPA profession. Candidates should budget for these expenses as part of their overall plan for obtaining CPA licensure.

CPA Exam Updates in Wyoming

The Business Environment and Concepts (BEC) section of the CPA exam is undergoing significant changes as part of the CPA Evolution. With the new CPA Exam format launching on January 10, 2024, the BEC Exam will be replaced by three new Discipline sections in the Core-Plus-Discipline model. Candidates will be required to pass one Discipline exam in addition to the three Core Exams.

Expert Tips to Become a CPA in Wyoming

As someone who has navigated the challenging waters of CPA licensure, I can attest to the rigor and dedication required to succeed. In Wyoming, where the landscape of accounting is as diverse as its natural beauty, becoming a CPA is more than passing exams; it’s about embracing a mindset of continuous learning and ethical responsibility. My journey taught me that perseverance and adaptability are key. To all aspiring CPAs in Wyoming, remember that each hurdle you overcome is a step towards becoming a trusted advisor in the ever-evolving world of accounting.

– Bryce Welker, CPA, Founder of CrushTheCPAexam.com

Local CPA Organizations in Wyoming

These organizations provide various services and resources for CPAs and those interested in the accounting profession in Wyoming.

• Wyoming Society of Certified Public Accountants (WYOCPA): WYOCPA is dedicated to enhancing the CPA profession in Wyoming and providing information and resources to its members.
• Wyoming Association of Public Accountants: This association represents public accountants in Wyoming, offering a state-wide (and nationwide) membership.

Wyoming Exam Information and Resources

• Wyoming CPA Exam Forms
• Wyoming CPA License FAQ
• Wyoming CPA Examination

For more details, please contact:

Wyoming Board of Certified Public Accountants

2020 Carey Avenue – Suite 702
Cheyenne, WY 82002-0610

Email: [email protected], [email protected]
Phone: 307-777-7551
Fax: 307-777-3796

FAQs