How to Become a US CPA in India?

If you want to make a great career in accounting and finance, the US CPA can be your best choice. The Certified Public Accounting (CPA) is a globally renowned accounting certification provided by the American Institute of Certified Public Accountants.

Gone are the days when a candidate had to travel abroad to appear for the US CPA exam. However, since 2020, the US CPA exams have been conducted in India.

This article will take you through a step-by-step procedure for doing a CPA in India.

What Is the Role of CPA?

A CPA has in-depth knowledge of various accounting principles and tools required for the financial management of companies of different sizes. This includes analysis of financial statements, financial planning, tax preparation, internal auditing, income tax and many other services related to financial matters.

The CPA is somewhat similar to a CA qualification in India.

How to Do US CPA in India – Step-by-Step Guide

• CPA Eligibility in India

To be eligible for CPA, the candidate must have 120 accounting credits. If we align that with the Indian education system, 120 credits translate to 16 years of education. Each year of graduation holds 30 credits.

Here are the CPA eligibility criteria for Indian students:

• Post-graduation degree in any stream of accounting, finance or commerce.
• Even if you hold a three-year degree from NAAC-A accredited universities in India, you are eligible for the US CPA exam.
• Other than that, Bcom (any college) + CA IPCC-cleared candidates are eligible.
• Bcom (any college) + CS candidates are eligible.
• Bcom (any college) + qualified CMA or CA candidates are eligible.
• Candidates should also hold 2,000 hours of work experience to become a CPA. 

Also Read – All You Need to Know About CPA Eligibility in India

• Apply for US CPA

If you are fulfilling the eligibility criteria, it’s time to apply for the US CPA exam. The cost of the US CPA exam depends on the state in which you register your candidature in the US. The average cost of US CPA from India can be anywhere between INR 3.5 – 4 lakhs.

• To proceed with the registration, submit all the necessary details about your education and work experience, if any.
• Upon verification of details, you will receive Notice to Schedule (NTS).
• Once you receive the NTS, you can go to the Prometric website to schedule your exam at your convenience.

The US CPA exam in India is usually conducted in January, February, April, May, July, August, October, and November.

Indian candidates can only apply for US CPA in the states of Montana, Washington, Pennsylvania, Alaska and Guan.

When you enrol with Proschool for the US CPA course, our experts personally evaluate your candidature. We can guide you through the overall process and also the CPA requirements of various states of the US. 

• Prepare for the US CPA Exam

The US CPA exam is difficult to crack. In the past 3-4 years, the combined pass rate for all 4 sections of US CPA has been in the range of 45-60%.

There are 4 papers in the US CPA exam:

1. Auditing & Attestation (AUD) – (50% MCQs and 50% simulation)
2. Financial Accounting & Reporting (FAR) – (50% MCQs and 50% simulation)
3. Regulation (REG) – (50% MCQs and 50% simulation)
4. Business Environment and Concepts – (50% MCQs and 50% simulation)

Using the right CPA study material and having a proper exam strategy can help you ace the CPA course.

At Proschool, we equip students with the right study material, lectures, task-based simulations, and mock tests. Our study material is Becker-inspired. 

• Appear for the Exam

Prometric is a leading brand in CPA test administration. There are 8 Prometric test centres for the US CPA exam in India. These centres are located in Ahmedabad, Mumbai, Hyderabad, Chennai, Calcutta, Bangalore, New Delhi and Trivandrum.

The scores are typically released within 10-20 days from the date of the exam. If you have passed the CPA exam, it’s time to apply for the CPA licensure. 

Also Read – A List of Changes in the US CPA Exam 2024

• Apply for a CPA License

The general criteria for seeking a CPA license is that the candidate has to pass CPA exams, hold 150 credits (complete graduation + post-graduation) and should have 2000+ hours or equivalent to 2 years of work experience.

The cost of a CPA license is in the range of $50-500 per year. Holding a CPA license not only signifies a high level of technical expertise but also shows a commitment to upholding the highest ethical standards in the profession of accounting.

Also Read – What is CPA License & can A CPA practice in India?

CPA Jobs in India

Once you become a US CPA, you can work anywhere in the world including the US and India. In India, you can find high-paying jobs in finance and accounting at Big 4’s and industry.

Here’s an overview of job profiles you can get after the completion of a US CPA. 

• Financial Accounting

A CPA is considered to be proficient in keeping track of a company’s finances. This role involves preparing balance sheets, managing financial operations and looking after all financial transactions. 

• Taxation

CPAs are up-to-date on tax laws and regulations, so they can provide the best advice on how to navigate the complex tax system. Their expertise ensures you’re in compliance with all tax laws while also making the most of availing tax benefits.

Also Read – How Much Does a CPA Earn in the US, India & Big 4?

• Corporate Finance

CPAs can play a pivotal role during an initial public offering (IPO) or further public offering (FPO). Because of their extensive knowledge, CPAs can even provide guidance to management to plan and execute various financial strategies.

Apart from these job profiles, CPA can also find suitable roles in internal auditing, financial advisory, and management reporting. A CPA is a high-paying job in the Big4s in India. 

Conclusion

The CPA course is gaining prominence in India. With the rising demand for CPAs, Indian states are making more provisions for CPA US in India.

FAQs

What is the salary of a US CPA in India?

The average salary of CPA in India is in the range of INR 6-8 LPA. However, it varies as per the job profile, company and location.

Is CPA better than CA in India?The CA vs CPA debate is common. Both are esteemed qualifications, and the choice depends on career aspirations. CA holds prominence in India, aligning with local accounting standards, while CPA offers a global perspective.