homa CPA Requirements

Oklahoma’s positive economic outlook makes it an attractive destination for young financial services professionals. The American Legislative Exchange Council’s 2023 report ranked Oklahoma’s economy as fifth among the United States.

Projections Central predicts that jobs will grow by 11.9% in Oklahoma between 2020-2030. This is a far greater growth rate than the national projection of 6.9%. Oklahoma businesses need accountants for a variety of reasons, including to maintain their financial health as well as ensure compliance with tax and legal standards.

Oklahoma continues to be a popular state for the Certified Public Accountant (CPA). You must have a bachelor’s with accounting courses, and at least one-year of experience to become an Oklahoma CPA.

The process for obtaining an Oklahoma CPA license includes several other details. This guide covers all the important points.

Oklahoma CPA Education Requirements

You must meet certain education requirements before you can become a CPA. The standards include:

• Bachelor’s Degree from an accredited institution
• The equivalent of 150 semester hours in course credits
• Accounting and auditing coursework that is significant

Oklahoma’s CPA requirements require that candidates meet these conditions prior to taking the Unified CPA Examination. These requirements make accelerated bachelor’s-to-master’s accounting programs particularly relevant in Oklahoma.

The average bachelor’s degree program only covers 120 semester hours. Accelerated bachelor’s-to-master’s programs meet Oklahoma’s 150-credit requirement.

Concentrations, credits, and course acceptance

In many states, a candidate can sit for the Uniform CPA Examination if they have completed 120 semester hours and hold a bachelor’s. Some states allow students to sit for the exam in the final stages of their education, even if they are not yet officially graduates.

Oklahoma applies different standards. Oklahoma has different standards.

Your education should also include:

• A minimum of 76 semester hours in upper division coursework
• Accounting coursework of at least 30 semester-hours
• Nine semester hours in upper division business courses
• You should take at least one course on auditing or assurance

The focus of the auditing or assurance course should be on external auditing. It should also cover the principles of Statements on Auditing Standards. Business coursework can include:

• Business communication, law or management
• Financial Services
• Financial information systems

You may choose to take introductory classes as part of your general business coursework. All accounting coursework that qualifies must be at an intermediate or higher level.

• Bachelor’s degree
• Minimum 150 hours of college credit
• A minimum of 76 hours of upper division coursework
• Minimum 30 semester hours of accounting coursework including at least 1 course in external auditing and assurance
• You must have completed at least nine semester-hours of business coursework.

Oklahoma Experience Requirements

Oklahoma is a state with two levels. Candidates must first become certified in two-tiered states before they can apply for CPA licensing. Passing the Uniform CPA Examination along with a minimum of one year’s work experience is required to gain certification.

Oklahoma defines a year of experience as at least 1,800 work hours spread over at least one year. All work experience must be accumulated within four years from the date of your Oklahoma CPA application.

Experience in the public accounting industry, academia, government or private sector is also acceptable. Your job duties should also include one or more of the following:

• Accounting, attestation or compilation
• Financial or Management Advisory or Consulting
• Taxation

CPAs who are certified or licensed must supervise and verify your work experience. Oklahoma Accountancy Board standards allow for another qualified professional to supervise and verify work experience.

The Oklahoma Accountancy Board offers to you or your employer for a form that documents Oklahoma accounting experience.

• A minimum of one year (1 800 hours) under the supervision of a CPA or certified accountant
• The duties must include accounting, advisory services (including compilations, attestations, management or financial consultation, and/or taxes), attestations, compilations, management or Financial consulting,

CPA Exam Requirements

CPA candidates in the United States all take the uniform Uniform CPA Examination. Although the exam content is not different from one state to another, eligibility requirements and technical details can sometimes vary.

Below are the Oklahoma CPA Exam standards and procedures.

Exam Eligibility

Many states in the U.S. have different standards of eligibility for licensing and examination. Some jurisdictions permit students or recent graduates with a bachelor’s degree covering accounting to sit for the CPA examination.

Oklahoma follows the same guidelines when it comes to licensing and examination. Candidates must meet the same requirements:

• Bachelor’s degree with at least 150 semester-hours
• More than 76 hours of upper division coursework
• Accounting coursework of 30 semester hours minimum
• Additional business courses of nine semester hours or greater

Oklahoma CPA candidates are not subject to age or citizenship requirements. To become an Oklahoma CPA you must have a valid Social Security Number and be a resident of Oklahoma. When you apply to take the CPA test, you must meet Oklahoma’s “good character” standard and declare any criminal records.

Exam Schedule and Application

The National Association of State Boards of Accountancy website (NASBA) allows you to apply for Oklahoma CPA exam. Two steps are involved in the application process: approval and scheduling.

NASBA will forward your application to Oklahoma Accountancy Board. The Oklahoma Accountancy Board typically processes applications within 5-7 working days. Board officials will verify that your credentials are up to state standards.

Your application must also include:

• Two recent passport photos (2 inches by 2 inches).
• Affidavit of Legal Presence In the United States
• Application Fee ($50 by Dec. 2022).

If your application has been approved, NASBA sends you a Notification to Schedule. You can use your NTS to choose an exam date, location, and time.

Oklahoma allows you to take the four sections of the Uniform CPA Examination individually. You can also take all four sections together or in any combination. As of 2023, each section will be charged $226.15 for the exam.

You must have a minimum score of 75 to be eligible for credit in a particular section. Credit based on sections is valid for a period of 18 months. You must complete all four sections within 18-months of passing your first section to ensure that all four scores are valid.

After passing the Exam

After passing the Oklahoma CPA exam, you will need to gain 1 year (1 800 hours) of work experience in order to be certified. After the Oklahoma Accountancy Board has reviewed and approved your experience documentation, you can apply for certification.

CPAs who have passed the exam on professional ethics are eligible for full licensure. This exam is administered by the American Institute of Certified Professional Accountants. Oklahoma requires that applicants for licensure complete AICPA Professional Ethics: A comprehensive course and achieve at least 90% in the exam.

Oklahoma CPA licenses are officially known as “permits to practice.” You must pass the AICPA ethics exam and complete 40 hours of continuing education (CPE).

You may be asked by employers and clients to provide proof of your Oklahoma CPA status. You can obtain a verification through the Oklahoma Accountancy Board licensing division, or NASBA CPA verify service.

Maintaining your Licensure

Oklahoma CPA licenses expire every year. Your permit must be renewed by the last day of your month of birth. If you do not renew your permit, it will expire and you may lose your CPA status.

CPE is the main requirement for renewal. Each rolling three-year period requires that you complete 120 hours of CPE, with at least 20 of those hours completed in each year. You must also complete four hours of CPE on professional ethics in every three-year cycle.

Oklahoma CPAs must document and report CPE. Oklahoma Accountancy Board mandates that CPAs maintain documentation for at least 5 years.

Oklahoma CPA registration requirements are also applicable to firms. After registering your firm with Oklahoma secretary of state, you can use Oklahoma Accountancy Board form R005 for documentation with the board.

If you are a firm that provides public accounting services and advertises this service, then your company must be registered. All sole proprietorships that are owned and operated by the owner must register.

Oklahoma offers two pathways for CPA license equivalents for professionals who wish to change jurisdictions. The first pathway is for CPAs who are already licensed in another state. The second path is for candidates who have yet to receive initial licensure but qualify. can access the complete details via NASBA.

Oklahoma CPAs: What do you need to know?

How can I become a CPA?

Oklahoma has two levels of government. You must be certified before you can obtain a CPA license. You must be certified if you have a Bachelor’s Degree with 150 semester hours and 1,800 hours over a calendar year.

Who is eligible to take the Oklahoma CPA exam?

Oklahoma CPA requirements state that you need to have completed at least 150 college semester hours and a bachelor’s degree before taking the CPA examination. You must have a thorough upper-level accounting coverage in your coursework. Oklahoma Accountancy Board will also determine if you have “good moral character”.

How long does it usually take to become a CPA in Oklahoma?

Oklahoma’s CPA licensing requirements can be completed in five years by full-time students. Oklahoma requires 1,800 professional hours. The typical timeframe is six years or more.

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

The CPA exam will cost $226.15 for each section in Oklahoma as of 2023. The CPA exam is divided into four sections. Oklahoma candidates must pay a total of $904.60 in exam fees.

How can I obtain my CPA license?

You must first meet the education and experience requirements of your state. You must then pass the AICPA ethics exam, and complete 40 hours of CPE. After meeting these requirements you are eligible to receive a CPA licence, also known as a permit for practice in Oklahoma.

The article Oklahoma CPA requirements first appeared on Accounting.com.

Author: Emily Kelso