Activity Review
North Carolina State
Board of Certified Public
Accountant Examiners
Suite 104, 1101 Oberlin Road, Post Office Box 12827, Raleigh, NC 27605-2827 (919) 733-4222 No. 2 2000
Important Information for
Successful Exam Candidates
Successful examination candidates who
want to avoid meeting the Board's 150-
hour education requirement for licen¬
sure must submit a properly completed
application for licensure to the Board
prior to December 31, 2000.
The deadline is a result of legisla¬
tion passed in July 1997 (see Activity
Review 8-1997) which states that to be
eligible to receive a certificate of quali¬
fication to practice as a CPA in North
Carolina, individuals who apply for
licensure after December 31, 2000, must
satisfactorily complete 150 semester
hours of college-level coursework in¬
cluding a bachelors degree with a con¬
centration in accounting.
In addition, the legislation requires
that individuals applying for licensure
after December 31, 2000, must meet at
least one of the following work experi¬
ence requirements: one year of experi¬
ence in the field of accounting under
the direct supervision of a properly
licensed CPA; four years of experience
in the field of accounting; four years of
experience teaching accounting in a
regionally accredited four-year college
or university; four years of experience
teaching college transfer accounting
courses at a regionally accredited com¬
munity college or technical institute; or
any combination of the above experi¬
ence determined by the Board to be
substantially equivalent.
These changes in the experience
requirements apply only to applica¬
tions for licensure postmarked or re¬
ceived after December 31, 2000.
Successful exam candidates will
not be affected by the 150-hour educa¬
tion requirement unless they do not:
• complete the current work ex¬
perience requirement pursuant to
21 NCAC 8F .0401; and
• submit a completed applica¬
tion for certification, including sup¬
porting documentation, to the Board
prior to December 31, 2000.
Exam candidates who have not
yet passed all four parts of the exam
will not be affected by this legislation
unless they do not:
• pass all sections of the Uni¬
form CPA Examination pursuant to
21 NCAC 8F .0105;
• complete the current work ex¬
perience requirement pursuant to
21 NCAC 8F .0401; and
• submit a completed applica¬
tion for certification, including sup¬
porting documentation, to the Board
prior to December 31, 2000.
Keep in mind, the legislation ap¬
plies to certificate applications post¬
marked or received after December
31, 2000, and individuals who do not
complete the work experience require¬
ment and submit a complete applica¬
tion for licensure prior to the deadline
will be required to comply with the
150-hour education requirement be¬
fore receiving a North Carolina CPA
certificate.
If you have any questions about
the 150-hour education requirement for
licensure and how it affects exam can¬
didates, please visit the Board's web
site (www.state.nc.us/cpabd) and re¬
view the in-depth information, includ¬
ing the applicable statues and rules, on
the requirement.
If you have questions not answered
by the information on the web site, you
may contact the Board by telephone at
(919) 733-4222; by fax at (919) 733-4209;
by e-mail at licensing@mindspring.com;
or by mail at PO Box 12827, Raleigh,
NC 27605-2827.
Remember, the 150-hour education
requirement applies to applications for
licensure received after December 31,
2000; the requirement has no bearing
on sitting for the Uniform CPA exam.
www.state.nc.us/cpabd
Inside this issue...
Advertising Guidelines . 6
Certificates Issued . 7
Consent Orders . 2
Dial Us Direct . 6
FASB's Views on Fair Value . 5
GASB Revises Standards . 4
Has Your Address Changed? . 4
Independence Requirements . 5
Licensing Activity . 4
Notice of Address Change . 8
Spotlight Rule . 6
State Tax Forms Get New Look .. .3
