Press Kit
Frequently Asked Questions
What is
the difference between NCACPA and the North Carolina State
Board of CPA Examiners?
NCACPA is the premier professional association for certified
public accountants (CPAs) in North Carolina. While the
association is not involved with any regulatory actions, it
is an approved provider of continuing professional education
(CPE) in the state. In addition to CPE, the association
provides members with leadership and networking
opportunities, industry information, and representation
before the General Assembly and the North Carolina State
Board.
The
North Carolina State Board of CPA Examiners is an
occupational licensing board that grants certificates of
qualification as CPAs to those individuals who meet the
legal requirements. The State Board also adopts and enforces
the Rules of Professional Ethics and Conduct to be observed
by CPAs in North Carolina. Other functions of the State
Board include registration of CPA firms, renewal of CPA
certificates and CPA firm registrations, administration of
the Uniform CPA Examination, and the administration of the
continuing professional education (CPE) compliance program.
How
much CPE is required for North Carolina CPAs?
The North Carolina State Board requires CPAs to take 40
hours of continuing professional education (CPE) between
January 1 and December 31 of each year to maintain their
North Carolina certificate.
How many
CPAs are licensed each year in North Carolina?
This number varies year to year. It is contingent on the
number of individuals who fulfill the requirements to become
a CPA.
Is a
degree in accounting necessary to become a CPA?
Effective with the May 2001 Uniform CPA
Examination, the educational requirement to sit for the
Uniform CPA Exam is a bachelor's degree from a college or
university accredited by one of the regionally accredited
associations in any subject that includes, or is
supplemented by, 30 semester hours in accounting, or the
completion of special examination and work experience, in
lieu of the formal educational requirements.
What is the difference between a CPA and an accountant?
All CPAs are accountants but all accountants are not CPAs.
The principal differences between accountants and CPAs are
education, experience, and opportunity. In order to become a
CPA, there are education and experience requirements to
fulfill, and a uniform exam that must be passed.
What is
the difference between public and industry accounting?
In public accounting, the CPA either owns or works as part
of a firm, composed of CPAs and other professionals. While
auditing, management consulting, and tax and financial
planning are the core activities of the public accountant,
these skills can be applied to new specialty areas, such as
forensic accounting and information security and integrity.
Industry accounting (sometimes known as “corporate,”
“managerial,” or “private” accounting) puts the CPA inside a
business enterprise. CPAs use critical thinking skills to
provide innovative solutions that help companies run their
operations better and also help grow their businesses. The
career path of a CPA working successfully in corporate
accounting often leads to a leadership position, such as
controller or CFO.
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