The requirements to become a CPA in Colorado can be a bit confusing so I put this guide together to help you navigate the process! If you’re just starting to research getting your CPA license in CO then I suggest starting from the top. Otherwise, feel free to skip ahead to any section you’d like to know a little more about!
Contents
- 1 7 Simple Steps to Becoming a CPA in Colorado
- 2 Additional Resources and Information
7 Simple Steps to Becoming a CPA in Colorado
Meet the Eligibility Requirements for the CPA Exam
Here are the basic age and citizenship requirements to sit for the CPA exam in Colorado.
- Minimum age requirement?: No
- US citizenship required?: No
- Colorado residency required?: No
- Minimum level of education required: See next section
- Valid Social Security Number (SSN)* required?: Yes
*An Individual Taxpayer Identification Number (ITIN) may also be provided
Fulfill the CO CPA Education Requirements
In Colorado you need at least 150 semester hours to get your CPA license but only 120 semester hours to sit for the CPA Exam, which means you can sit for the exam while you’re still in college!
Here’s a detailed breakdown of exactly what’s needed to sit for the CPA Exam and for licensure:
Requirements to sit for the CPA Exam:
- Have at least 120 semester hours AND a bachelor’s degree (or higher) from a U.S. accredited college, university or foreign equivalent
- At least 27 semester hours of accounting courses with a grade of at least a C or higher
- Courses must be non-duplicative
- At least 21 semester hours must be above the introductory level and cover subjects such as:
- Accounting Ethics
- Accounting Information Systems
- Accounting Research and Analysis
- Accounting Theory
- Auditing and Attestation Services
- Financial Accounting and Reporting of Business Organizations
- Financial Accounting and Reporting for Government and Not-for-Profit Entities
- Financial Statement Analysis
- Fraud Examination
- Internal Controls and Risk Assessment
- Managerial or Cost Accounting
- Taxation
- Tax Research and Analysis
- Other areas as approved by the Board
- At least a 3 semester hours of coursework covering auditing based on U.S. GAAS
- At least 21 semester hours of business administration courses
- Courses must be non-duplicative and address the following subject areas:
- Behavior of Organizations, Groups, and Persons
- Business Communications
- Business Ethics
- Business Law
- Computer Information Systems
- Economics
- Finance
- Legal and Social Environment of Business
- Management
- Marketing
- Quantitative Applications in Business
- Statistics
- Other areas as approved by the Board
- No more than 6 semester hours can be in any single subject area
- At least 12 hours must be above the introductory level (although any excess hours will still qualify for the 120-hour rule)
- Courses must be non-duplicative and address the following subject areas:
Requirements to obtain your CPA license:
- Have at least a bachelor’s degree (or higher) from a U.S. accredited college, university or foreign equivalent
- Have at least 150 total semester credits
- At least 33 semester hours of accounting courses with a grade of at least a C or higher
- Courses must be non-duplicative
- At least 27 semester hours must be above the introductory level and cover subjects such as:
- Accounting Ethics
- Accounting Information Systems
- Accounting Research and Analysis
- Accounting Theory
- Auditing and Attestation Services
- Financial Accounting and Reporting of Business Organizations
- Financial Accounting and Reporting for Government and Not-for-Profit Entities
- Financial Statement Analysis
- Fraud Examination
- Internal Controls and Risk Assessment
- Managerial or Cost Accounting
- Taxation
- Tax Research and Analysis
- Other areas as approved by the Board
- At least a 6 semester hours must cover auditing
- 3 of these semester hours must cover auditing based on U.S. GAAS
- The remaining can be related to advanced auditing or a subset of auditing (i.e. fraud, IT auditing, etc.)
- At least 3 semester hours must come from an ethics course (accounting or business) that includes the following content
- The ethical responsibilities of accountants, both personal and professional
- Ethical dilemmas facing accountants
- Ethical theory
- The various accounting codes of conduct and ethical guidance for accountants
- The application of ethical theory, codes of conduct, and professional standards
- Courses focusing on general or business ethics will not be counted toward this requirement.
- At least 27 semester hours of business administration courses
- Courses must be non-duplicative and address the following subject areas:
- Behavior of Organizations, Groups, and Persons
- Business Communications
- Business Ethics
- Business Law
- Computer Information Systems
- Economics
- Finance
- Legal and Social Environment of Business
- Management
- Marketing
- Quantitative Applications in Business
- Statistics
- Other areas as approved by the Board
- No more than 9 semester hours can be in any single subject area (although any excess hours will still qualify for the 150-hour rule)
- Courses must be non-duplicative and address the following subject areas:
Apply to Sit for the CPA Exam and Pay the Exam Fees
Be sure to check out this post where I break down the entire CPA Exam application process for you, step-by-step.
The cost to apply and register for all four parts of the CPA Exam in Colorado are as follows:
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*Colorado‘s Notice to Schedule (NTS) window is 6 months, so you should only register and pay for the exam section(s) you intend to take within that time. If you need to schedule or re-take any sections beyond your initial NTS window, a $75 re-examination fee plus the associated exam section fees above will apply.
Study for, and PASS the CPA Exam!
Studying for the CPA Exam is definitely the most challenging and time consuming part of the whole process, so you might as well get a jump start on studying as soon as your fees are submitted.
Not sure which exam section to take first? Check out my post where I break down the pros and cons of each route you can go so you can make the best possible decision: Which section of the CPA Exam should I take first?
By far the most important factor to success on the CPA Exam is sticking to a consistent study schedule and not letting too much time lapse between study sessions.
The CPA Exam is not a test you can just cram for so you’ll want to make sure you space out the material into manageable chunks in a way that fits your schedule.
As long as you schedule things out properly, you won’t have to sacrifice your entire social life for the CPA Exam like some folks say!
You’ll also need to purchase a CPA review course that’s best suited for your study style and budget. I’ve personally tested and examined all of the top review courses out there so you can find the best one for you.
If you still can’t decide which course is best, send me an email and I’ll personally help you!
CO CPA Work Experience Requirements
In addition to the education requirements discussed above, the Colorado State Board of Accountancy requires that you have a certain amount of work experience before you can obtain your CPA license. The requirements are fairly straightforward but vary depending on the type of work you’ll be performing:
- You must have at least 1,800 hours of qualifying accounting experience under a licensed CPA.
- Experience can earned any time during the 5 years preceding your CPA application date, but the work hours must have been performed over the course of a 1-3 year period.
- Experience may be earned on a full-time or part-time basis, and by one or more employers
Qualifying accounting experience must involve “the application of appropriate technical and behavioral standards, such as the AICPA Code of Professional Conduct and other standards contained in the AICPA Professional Standards, U.S. GAAP, U.S. GAAS, Statements on Standards for Attestation Engagements
(SSAE), Statements on Standards for Accounting and Review Services (SSARS), Statements on Standards for Tax Services (SSTS), Statements on Standards for Management Consulting Services, or other such standards as determined by the Board.” The following types of work qualifies:
- Public Accounting
- Involves client services involving the use of accounting or attestation skills, the issuance of reports on Financial Statements, management advisory or consulting services, preparing tax returns, or furnishing advice on tax matters.
- Industry
- Qualifying experience may include, but is not limited to: internal audit, installation of internal control systems, preparing Financial Statements, management advisory or consulting services, preparing tax returns, or furnishing advice on tax matters.
- Government
- Can be at the federal, state, or local level. Qualifying experience may include, but is not limited to: internal or external audit, installation of internal control systems, preparing Financial Statements, management advisory or consulting services, or regulatory reporting on financial matters.
- Academia
- Must include teaching at least 2 different accounting courses above the introductory level
Pass the AICPA Ethics Exam
The AICPA Ethics Exam is a self-study course that may be completed any time before, during, or after you sit for the CPA exam so long as it’s completed within 2 years of submitting your CPA license application. The exam consists of 40 multiple-choice questions that must be answered with a score of 90% or higher. To prepare for it, you’ll receive a 100-page textbook from the AICPA upon registration.
You can take the exam online or via a paper form that you’ll submit through the mail. You’ll have three attempts to pass the exam if you take the online version. After that, you’ll need to complete the exam via the paper / snail-mail route.
The exam and related materials can cost anywhere from $149 – $209, depending on whether you register as an AICPA member ($40 savings) or choose the online course text vs. the paper-based text ($20 savings).
Pro-tip: When ordering the AICPA exam, be sure to let them know you’re taking the exam for your Colorado State Board certification. That way when you pass, the AICPA will notify the Colorado State Board of your passing score.
Get Your CPA License!
Almost there! After passing the CPA exam and meeting all of the education and work experience requirements above, you’ll finally be able to apply for your CPA license!
Colorado’s application process is fairly straightforward compared to other states. In order to get your CPA license, you’ll need to complete and submit the following:
- Your CPA license application
- Education transcripts (if necessary*)
- Certificate of Experience Form
- Application fee ($110)
*Your college transcripts provided as part of your CPA exam application will already be on file. You’ll only need to provide additional transcripts if you did not meet the educational requirements for licensure when applying to sit for the CPA Exam (e.g. did not meet the 150 rule).
Once you’ve submitted everything noted above, then congratulations! You should be well on your way to getting your CPA license! In case you need any more info about the exam or licensing process, be sure to check out the additional resources I’ve included down below.
Additional Resources and Information
Colorado CPA Applications and Forms
Colorado’s CPA Laws, Rules and Policies
Contact Information
Colorado State Board of Accountancy
Office Address
1560 Broadway, Suite 1350
Denver, CO 80202
Email: dora_accountancyboard@state.co.us
Phone: (303) 894-7800
Fax: (303) 894-2310
Additional Organizations
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To learn more about some of the things you’ll need to prepare for the CPA Exam, be sure to check out my detailed reviews of each of the top courses on the market:
