Colorado has numerous resources like the gold, tellurium, and titanium dug from the Uravan Mineral Belt and the pristine powder at Telluride that attracts vacationers from across the globe.
This means a lot of money in Colorado! And where there’s big money, there’s a huge demand for accountants. Numerous research estimates an impressive growth rate of 20% in the number of accounting jobs by 2028.
Becoming a Colorado CPA will not only advance your career, but it’ll also open doors to opportunities that you never had. By learning how to become a certified public accountant in Colorado, you’ll be positioning yourself for the type of qualifications you need to grab those high-paying roles.
Meeting the CPA requirements in Colorado takes a lot of commitment and dedication. Truthfully, the CPA requirements in this state aren’t enormously stringent when compared to other states’ requirements.
You don’t need to have completed 150-semester credits to take the CPA exam. You can also get out of the work experience requirement by taking additional college courses.
These requirements and their corresponding regulations can be somewhat confusing, but don’t worry. We’ve detailed everything you need to know to bag the certification of your dream.
Here’s how to fulfill the Colorado CPA requirements, so you can take the CPA exam and become a licensed certified public accountant in the state of Colorado!
Colorado CPA Requirements
Contents
The Colorado State Board of Accountancy has specific standards for prospective CPAs. These include personal requirements as well as requirements for education, testing, experience, and ethics.
These standards are also always subject to change, so it’s wise to keep track of the board’s latest requirements before applying. In fact, the Colorado State Board revised the standards and regulations for education in July 2015.
Personal Qualifications
You don’t have to hold a United States Citizenship or be a resident of the State of Colorado for you to be eligible to take the CPA exam. Also, there’s no age limit for applicants.
However, you need to have a valid Social Security Number (SSN). If you don’t have SSN, you must provide an SSN Affidavit that affirms that you’re not a citizen of the United States but are applying for a CPA licensing in the State of Colorado.
The affidavit must be duly signed and notarized to be accepted as a part of your application. You’ll also require international programs and exams.
Educational Requirements
The educational requirements to become a Colorado CPA are quite similar to many other states. The Board requires that you complete 150 hours (120 hours bachelor’s degree included). The remaining 30 semester hours can be completed after passing the four-part CPA test.
These 30 post-exam hours must be fulfilled within five years of passing the exam. Within those 150 semester hours, you must fulfill specific CPA coursework requirements.
If you’re attending a Colorado-based university or college, your academic advisor in the Accounting or Business department would be aware of these standards and can help you meet these requirements, including:
27 semester hours in upper-level accounting courses with topics such as these:
- Theories of accounting
- Ethics in accounting
- Accounting and information systems
- Research and analysis in accounting
- Financial reporting for for-profit, private businesses
- Financial reporting for non-profits or government agencies
- Financial statements & analysis
- Fraud
- Cost accounting
- Taxes, research, and analysis
6 semester hours in auditing courses:
- 3 hours must cover Generally Accepted Auditing Standards (GAAS)
- 3 hours must be accounting ethics
CPA Exam Fees
When you’re ready to take the CPA exam, keep in mind that it’s divided into four sections. Because each section of the uniform test is handled separately, you pay for each one as you complete it.
The cost of the CPA exam in Colorado is $743 if you are a first-time taker. A one-time application fee of $150 is also required.
| Application Fee | $150 |
| Examination Fees | |
| Auditing and Attestation (AUD) | $195.35 |
| Financial Accounting and Reporting (FAR) | $195.35 |
| Business Environment and Concepts (BEC) | $176.25 |
| Regulation (REG) | $176.25 |
After you’ve been approved for a section, you’ll have six months to take it before your Notice to Schedule (NTS) expires. Your NTS is only valid for 6 months from the day it was issued.
You will also have to pass all 4 CPA exam sections in an 18 month period. If you can’t pass them all, your first passed exam credit will expire and you will be required to re-take it.
Colorado CPA License Requirements
Pass All Four Sections of the CPA Exam
You can take the CPA exam sections in any order you want. You’ll need a passing score of 75 or higher in order to get credit for that section. That’s why it’s so important to study for the exam with a CPA exam preparation course before sitting for the exam.
Any section credit earned is only valid for 18 months from the date the exam section was taken.
Exam credits expires section by section. Credits earned outside the rolling 18 months validity period is voided and corresponding sections must be retaken.
Work Experience Requirements
Effective July 1, 2015, Colorado requires all CPA candidates to complete at least 150 credit hours before submitting a CPA licensing application.
There are 2 routes to take to obtain your Colorado CPA license:
- Education plus Experience
- Education: no additional educational requirements
- Experience:
- Must include one year (1,800 hours) in public or private accounting, governmental accounting, as well as in academia
- Must have been completed within five years before the date of application
- Part-time work is eligible provided you complete 1,800 hours within 1-3 years
- Must be supervised by an active CPA or Chartered Accountant from an IQAB MRA country in good standing. (Australia, Canada, Ireland, Mexico, and New Zealand)
- Education Only: No Experience Required
- Master’s degree, doctoral degree, OR bachelor’s degree with a total of 150 credit hours.
- 45 credit hours in Accounting: 6 hours in Audit covering US GAAS.
- 36 credit hours in General Business related subjects with no more than 9 hours in any one subject.
- Experience requirement is waived.
Pass the CPA Ethics Exam
Once you pass the CPA exam, you can proceed to the AICPA’s ethics exam. This exam is part of a self-study package that includes a CD-ROM with 11 hours of instruction.
The exam is open book and isn’t considered particularly difficult, however, it is a crucial part of the CPA licensing process, so study carefully. You need a score of at least 90% to pass the exam.
Pay the CPA License Application Fees
Paperwork
Submit all of your required documents to the CO State Board. Transcripts, and proof of work experience are typically required. Inquire from the state board other required documentation.
Additional Colorado CPA Exam Information
For additional up-to-date information and resources on Colorado’s requirements for prospective and current CPA licensees, visit the Colorado State Board of Accountancy website.
COLORADO STATE BOARD OF ACCOUNTANCY
1560 Broadway-Suite 1340, Denver, CO 80202
Phone: 303-894-7800
Fax: 303-894-7692