Requirements for Wisconsin

The WMC Foundation published a whitepaper in 2021 entitled Wisconsin 2035: Vision for Wisconsin’s Economic Future. In the document, it was noted that Wisconsin’s economy grows faster than its population. This leads to labor shortages across many sectors including professional services.

The state’s growing economic diversity and robust labor market will benefit both current and future certified Public Accountants. Projections Central estimates that Wisconsin will have 2,400 openings per year in the job market for accountants and auditors between 2020-2030.

You must fulfill education, experience and examination requirements to earn a Wisconsin CPA licence. This guide will walk you through the steps to become a CPA.

What are the education requirements to become a CPA?

Each state has its own education requirements for CPA licensing. Wisconsin accepts either a Bachelor’s or Master’s degree. Your degree must include significant accounting coursework in either case.

Majoring in accounting is the best way to meet accounting requirements. You do not have to major in Accounting to be a CPA with a Wisconsin bachelor’s.

Bachelor’s degree holders are also subject to a caution. Wisconsin’s CPA requirements, like many others in the country, require that candidates have at least 150 college semester hours.

The standard bachelor’s program usually covers 120 semester hours. You may have to add a graduate degree or certificate to your existing education. Pursuing an accelerated bachelor’s-to-master’s in accounting offers another possible path.

Courses Acceptance, Concentrations and Credits

Wisconsin’s CPA requirements include at least 150 college semester hours and a Bachelor’s Degree. Candidates who have earned bachelor’s degrees and met accounting coursework standards can sit for the Uniform CPA Examination in Wisconsin. The degree must include at least 120 semester-hours.

Wisconsin is one of the few states that does not allow students to sit for the CPA examination while they are completing their degree. Exam candidates must have completed their degree requirements.

A bachelor’s degree holder must have completed at least 24 hours of accounting courses in the following areas:

• Accounting Information Systems
• 
  Auditing
  
• Cost Accounting or Managerial Accounting
• 
  Financial accounting
  
• 
  Taxation
  

Accounting-specific coursework is required. No longer are courses in management information systems or general information systems acceptable.

A master’s can be used to earn a Wisconsin CPA. Your master’s must include an accounting concentration and you must complete at least 15 semesters hours in the same subjects as those listed for undergraduates.

Wisconsin Experience Requirements

CPA requirements also include professional experience in Wisconsin. For a Wisconsin CPA, you need to have at least 12 documented months of supervised and documented accounting experience.

The Wisconsin Department of Safety and Professional Services requires that candidates document their work experience using Form 128. Wisconsin’s CPA licensure board examines all candidate experience and prefers to be as specific as possible in its documentation.

Documentation standards include

• Title of the job or position
• Job description: A detailed description
• The candidate must have a signed and dated letter of recommendation from their employer.

For a candidate to qualify, they must have accumulated work experience within the last five years of their application date. Wisconsin CPA licensing officials consider part-time experience as well.

Wisconsin Institute of Certified Public Accountants allows applicants to substitute teaching experience for direct professional accounting experience. WICPA will make such decisions on a case by case basis, but any teaching experience that qualifies must include high levels accounting competency.

CPA Exam Requirements for Wisconsin

The Uniform CPA Examination is required for anyone who wants to be a CPA. The multi-part exam is identical in all jurisdictions. However, each state has its own eligibility requirements.

These subsections cover the specific eligibility requirements for Wisconsin.

Exam Eligibility

CPA exam requirements for Wisconsin only apply to education. Candidate must have experience in order to be licensed as a CPA, but they do not require it to take the Uniform CPA Examination.

The following are the precise eligibility criteria:

• Minimum 120 hours of college credit
• A bachelor’s degree is required.
• Accounting and Business topics are covered in the required course work

If you are applying for the exam with a bachelor’s, your accounting coursework must consist of at least 24 semester credits. You must have 15 semester hours in graduate accounting credits if you are using a degree.

The course should include:

• Accounting Information Systems
• Auditing
• Cost or managerial accounting
• Financial accounting
• Taxation

Wisconsin does not require that you have a Social Security Number, be a U.S. citizen, or reside in the state of Wisconsin to take an exam. You must, however, be 18 years of age to take the Uniform CPA Examination. You must also pass the state ethics exam.

Exam Schedule and Application

Candidates must be familiar with the application, approval and scheduling processes to become a CPA. You can submit an application for Wisconsin’s CPA examination through the National Association of State Boards of Accountancy website.

The candidates must include their complete transcripts of academic records with their application. You must have your educational institution send your transcripts directly to CPA Examination Services.

WICPA will review your transcripts after you have applied to confirm that you are eligible. Wisconsin is one of the few states that does not allow you to take the CPA examination until you have completed the coursework and your bachelor’s.

You will receive a Notice of Schedule if WICPA approves the application. This notice is sent to you via your online NASBA Account, which you are required to create. According to NASBA it takes WICPA 2-4 week to process exam applications.

The Uniform CPA Examination is divided into four sections. You can take each section separately, multiple sections at once, or all four sections simultaneously. You must complete all four sections in 18 months starting from the date that you completed your first section.

The fees you pay depend on how many sections you take during an examination. The breakdown for first-time applicants is shown below as of May 2023:

• One Section: $444.15
• Two sections – $707.30
• Three sections $970.45
• Four sections : $1.233.60

As of May 2023, re-examination applicants who wish to update their credit or pass sections they have failed must pay the following fees:

• One Section: $361.15
• Two sections: 624.30 dollars
• Three sections, $887.45
• Four sections : $1.150.60

After passing the Exam

After passing the four sections of the Uniform CPA Examination within 18 months, you may proceed with your licensing by:

• If necessary, you can upgrade your education up to 150 semester hours.
• How to get the 12 month work experience required
• The Wisconsin open-book accounting exam

You must submit the Form130 to Wisconsin Department of Safety and Professional Services after you have met these Wisconsin CPA requirements. From May 2023 onwards, there is a $43 charge.

Wisconsin CPAs may verify their license status to clients, employers or other institutions using two methods. You can first perform a credentials search via the Wisconsin Department of Safety and Professional Services. Alternatively, NASBA offers CPA verification service.

How to maintain a Wisconsin CPA license

According to Wisconsin CPA requirements, active licenses in Wisconsin expire every odd-numbered December 14. The Wisconsin CPA requirements state that active licenses expire every odd-numbered year on Dec. 14.

Licensees that fail to renew their licenses by the deadline will lose their eligibility to be CPAs. They must then regain good standing in order to resume their profession.

Wisconsin adopted new requirements for continuing professional education (CPE). CPAs will need to meet certain CPE requirements in order to renew their eligibility.

• Minimum 80 CPE credits for every two-year license period
• Each of the two years must have at least 20 CPE credits
• Accounting education requires at least 40 CPEs
• Professional ethics is covered by at least three CPE credits

WICPA requires that licensees submit their CPE documentation and track CPE themselves. You can view the other CPE requirements by clicking here.

In order to comply with Wisconsin guidelines, all accounting corporations, firms, partnerships and sole proprietorships are required to be licensed separately and individually. A Wisconsin CPA license must be held by at least one CPA in the organization.

Wisconsin CPA requirements

How can I become a CPA?

Wisconsin’s CPA requirement includes a minimum of a Bachelor’s Degree, 150 semester-hours of college coursework and 12 months experience in accounting. You must have completed extensive accounting courses as part of your degree. You must pass the Uniform CPA Examination, all four sections and an ethics test issued by your state.

How long does it usually take to become a CPA?

In Wisconsin, the education requirements for CPAs typically require at least five full-time years of study. You also need to have at least a year of experience. This process puts the minimum CPA licensing timeline at around six years.

What is the cost of taking the CPA examination in Wisconsin?

The fee depends on the number of sections you intend to take during a session. Candidates who are re-examinations pay less than those who are first time applicants. The maximum fees for first-time applicants who take all four sections separately would be $1,776.60 in May 2023.

What is the CPA ethics exam in Wisconsin?

The Wisconsin Department of Safety and Professional Services administers the ethics exam. The open-book exam covers the legal guidelines that regulate professional CPA practice. To pass, you must score at least 80%.

What are the requirements to take a CPA examination in Wisconsin?

You must hold a bachelor’s or higher degree, with a minimum 120 semester-hours of coursework in accounting. Wisconsin, unlike some states, does not allow students to take the Uniform CPA Examination during their undergraduate degree.

The article CPA requirements in Wisconsin first appeared on Accounting.com.

Author: Emily Kelso