A CPA is a certified public accountant (CPA for its acronym in English). Several requirements must be met in order to obtain this certification, including:
1) Earn a bachelor's degree in accounting from a nationally recognized university.
2) Complete a master's degree in Accounting at a recognized university.
Once you have completed both requirements, you will be eligible to take the CPA licensing exam. It is important to point out that only 40% of people who take this exam are approved.
3) After passing the exam, this person must be under the direct supervision of a CPA for at least one year. Following this, the CPA Board of the state in which the person resides will grant the CPA license.
In total, about 7 to 8 years of study are needed to obtain a CPA license.
Additionally, CPAs are required to adhere to the standards established by the American Institute of Certified Public Accountants (AICPA). The behavior guidelines of a CPA include responsibility, professional ethics, commitment to the client, and compliance with the law.
This practice is to ensure the client receives a service of the highest quality.
A CPA is authorized to perform and present financial statements in compliance with current accounting standards, conduct audits, sign tax returns, and represent clients before the IRS during tax audits.
