CPA Qualifications
In the United States, Certified Public Accountant (CPA) is an accountant who has been legally recognized to certify/attest the accounts and report on them. For qualifying as CPAs, the candidates have to appear and clear the Uniform Certified Public Accountant Examination (Uniform CPA Exam), and in addition, they should also meet the criteria set by respective States relating to experience and education.
Therefore, there are Texas CPA qualifications for practicing or serving as CPA in Texas. Similarly, Ohio CPA qualifications, Missouri CPA qualifications, Florida CPA qualifications, and Illinois CPA qualifications and so on are qualifications for each respective state. These differ because each state has its own set of laws. Each state defines age, residency, educational qualifications, experience, etc. to qualify as CPA. In so far as licensing process is concerned, some States like Nebraska, Alabama, Montana and Illinois certify a student as CPA, as soon as he clears the Uniform CPA Exam, but the relevant license is granted only after such student gets the required amount of practical experience.
In general, CPA student is called certified and licensed, and he has to clear both the Uniform CPA Exam, as well as gain stipulated work experience within a predefined time frame. There are, however, some major differences related to CPA licensing in States of Ohio, North Carolina, Arizona, and Kansas. These four States differ from the other states because they allow auditing to be done by accountants other than CPA. In general, a licensed CPA is the only accountant who is allowed to audit, and sign on the audited financial statements, and accompanying explanations, offering opinion on the accounting procedure etc., followed by the company.
CPAs are mainly responsible for financial audits, and confirming whether the matters that are disclosed are true and reasonable. Their certification and attestation are not questioned, and considerable trust is reposed in them. In addition, CPAs also report on whether or not the accounts are as per GAAP (generally accepted accounting principles). Apart from practicing as CPAs, there can also take up employment. CPAs hold the position as finance managers, CEOs, or Chief Financial Officers when they take up employment. Finance related services such as financial accounting, and analysis, estate planning, income tax planning, and corporate governance etc., are the kind of functions that are covered when they are employed.