CPA in India - Eligibility | Fees | Career Scope | Salary

About US CPA:

CPA (Certified Public Accountant) is a globally-recognized public accounting qualification. AICPA (American Institute of CPAs) certifies CPAs to be trusted financial advisors to help businesses, individuals and other organizations to reach their financial goals. Candidates can earn this certification as a part of Career Growth. CPA comprises 4 exam parts which can be cleared by candidates (most of whom are working professionals) within 18 months. The minimum eligibility criteria for CPA exams are university graduation. In India, CPAs have career opportunities with all of the Big 4 and most MNCs.

CPA Exam 

CPA Exam Syllabus constitutes of 4 sections mainly. Each of the sections has its syllabus and exam 

  • Auditing and Attestation (AUD)
  • Regulation (REG)
  • Financial Accounting and Reporting (FAR)
  • Business Environment and Concepts (BEC)

You must pass all four sections within 18 months, earning a minimum score of 75 on each part. Each of the exam sections (FAR, AUD, REG, BEC) comprises of five smaller sections which are called testlets. Each of the testlets tests different items types in order to test the knowledge and skills of the candidates.

CPA Certification & Eligibility in India

Unlike Indian and International Professional Qualifications which do not require any university education, US CPA mandates a university degree as an eligibility criteria. And the four CPA exam parts complement university education to ensure candidates are ready for the profession. The minimum eligibility criteria for CPA exams are university graduation.

  • Master’s Degree in any of the streams of Commerce, Accounting or Finance
  • An aspirant needs 120 credits to take the US CPA exams and 150 credits to get his CPA license
  • It’s considered that one year of University education in India is equal to 30 credits of US education (Any Candidate who has cleared 3 years of Bachelor degree and 1 years of Master Degree are normally eligible to appear for CPA Exam).
  • In some cases, first division graduates of a three-year degree from NAAC-A accredited universities of India are qualified to take the US CPA exams too.
  • Even a candidate who has cleared B.Com Plus Intermediate level exam of any Professional Course ( e.g. CA IPCC ) is eligible to appear for CPA Exam.

One of the most common questions in an aspirants mind is his eligibility to take the exam, below combinations shall be helpful for a candidate to determine his eligibility for CPA exams:

  • B. Com + 1 Year Diploma = 120 Credits
  • B. Com + CA Inter/ ICWA Inter / CS Exec. = 120 Credits
  • B. Com + M. Com (2 year) = 150 Credits
  • B. Com + MBA (2 year) = 150 Credits
  • B. Com + CA / ICWA / CS = 150 Credits

Important Read: CPA - Frequently Asked Questions 

CPA FEES IN INDIA

CPA Cost Breakdown

Particulars

Cost (in Dollars)

Exam fees (per section $224)

$896

International testing fees **

$1426

Evaluation fees

$225

** Please note International testing fees is not applicable If you are writing CPA exam in USA.

Important Read: CPA- Career Alternative for Commerce Students

Scope for CPA in India: 

The US CPA designation has global recognition, and the scope for US CPA is not limited to India or the US, but also around the world. So, a Certified Public Accountant is being hired by different divisions of US-based multinational companies (MNCs) in India.   

BIG4s are the four leading professional accounting organizations that provide accounting, taxation, auditing, assurance, etc., to deal with clients worldwide. These organizations include KPMG, Deloitte, PriceWaterhouseCoopers (PwC), and Ernst and Young (EY). These BIG4s provide services that are much in demand, and so they gain such popularity in hiring the CPAs in India.  

CPAs in India are also capable of handling international financial accounting and corporate governance efficiently. Therefore, different profiles in the financial services firm hire CPAs. Thus, the scope of CPA in India is higher, and companies recruit Certified Public Accountants extensively.  

Becoming a CPA can have an abundance of career options that include:  

  1. Financial Accounting  

CPAs can be a significant part of the financial accounting for preparing and reviewing balance sheet accounts, for example, inspecting where the company is utilizing the funds and where they are overspending.  

  1. Corporate Finance  

CPAs can be an integral part of the Initial Public Offering (IPO) or Further Public Offering (FPO) as they understand the accounting consequences and acquisition aspects. In addition, since they know the accounting facet, CPAs can counsel the management about the strategic moves for the company.  

  1. Assurance and Attest Services  

Attestation is an assurance service that CPA organizations generally offer. For example, it can be of the audit of internal control of the organization and financial statement review. And assurance services are those that involve high levels of independence, integrity, and objectivity.  

  1. Information Technology  

Information technology (IT) accounting integrates traditional accounting principles with information systems to save an organization’s financial data. CPAs are required for this audit as they have accounting knowledge, and one could even have specialization in IT audit.   

  1. Internal Auditing  

Internal auditing is a consulting activity and objective assurance which adds value and improves a company’s financial operations. Internal auditors follow the best practices to control and manage risks effectively.   

  1. Financial Advisor  

CPAs also serve as financial advisors to individuals by making informed financial decisions on their behalf to help them manage their finances related to home purchases, starting a business, and retirement planning.  

  1. Management Reporting  

Management of a company generally recruits CPAs who understand the business and can draw conclusions and caution the administration about specific changes or uprisings.  

  1. Tax Preparation and Planning  

Generally, various firms conduct budgeting for taxable income and forecast the revenue to predict how much tax a company would have to pay finally. CPAs can process this efficiently and advise the corporation on their tax aspect.  

  1. Finance Director  

Also known as directors of finance, finance directors oversee all the financial activities, reporting on revenue, training accounting staff, budgeting, disbursing funds to departments, managing risk, implementing policies, and improving financial processes.  

Thus, CPA can bring a well-respected career in India along with a high-paying salary. 

CPA Salary

An entry-level CPA with less than 1-year experience can earn somewhere around ₹6- 8 lakhs. Whereas with 1-4 years of experience earns ₹ 8-12lakhs. With 5-9 years of experience, you can earn ₹1,000,000.

US CPA Exam Pass Rate In India

All candidates appearing for the US CPA exam have to score 75 or more on each section (AUD, BEC, FAR and REG) to pass, and each section must be passed within an 18-month window which begins as soon as the candidate passes the first exam. CPA exam scoring is treated with a high level of importance, due diligence, and attention to accuracy. The pass rate of US CPA exam in India is nearly 51%.

Section

Year - 2017

Year - 2018

Year - 2019

Year - 2020

AUD

49%

51%

51%

55%

BEC

53%

59%

60%

68%

FAR

44%

46%

46%

53%

REG

47%

53%

56%

64%

    CPA licensed professionals are hired by individuals, corporate houses, industry, government, private and non-profit organisations.

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