The United States is increasingly welcoming international accounting and financial professionals due to the scarcity of certified public accountants, rising inflation and interest rates, and other factors.
So, possibilities for international accountants with a US CPA license are now better than ever, regardless of where they choose to work. American CPAs get a lot of perks, from career opportunities and higher salaries to better job security and the ability to travel.
However, with all these rewards come a few challenges associated with pursuing a CPA certification in the United States. Read on to learn more about the challenges and benefits of a CPA degree in the US.
The public accounting industry, and specifically the work of CPAs and accountants, can provide a stimulating and rewarding professional environment. But you must first overcome certain challenges before you can enjoy a long and prosperous career.
Each state has its own standards for who can sit for the CPA test, which makes it confusing for international accountants to choose a state. Most states require the candidate to hold a bachelor’s degree in accounting or finance and at least two years of experience in public accounting to sit for the exam. International students may also be required to submit a foreign transcript evaluation for CPA and evidence of work experience.
In terms of difficulty, the CPA exam is up there with the toughest of them all. Candidates’ knowledge of accounting, auditing, business law, and taxation is thoroughly tested. You must put in several hours to prepare for the exam. Several online resources are available to help students prepare for the CPA exam.
While earning your CPA certification is certainly a major accomplishment, it’s crucial to keep in mind that it’s only temporary. Keeping up with the latest laws and regulations that pertain to one’s career necessitates ongoing education. To keep their CPA licenses current, many states mandate that certified public accountants participate in continuing education courses annually or every other year.
Despite the challenges, working as a CPA can lead to significant personal and intellectual development, financial stability, and professional success. Here are the top benefits of a CPA degree in the US.
There is a growing need for qualified financial professionals in the United States. Earning the CPA certification demonstrates that you have mastered US accounting principles and practices and have the credentials to back up your expertise. It will open up new doors for you professionally, even if you reside outside the US.
The US CPA is widely regarded as the pinnacle of accounting certification worldwide. When you become a CPA in the United States, you automatically become a member of the AICPA, one of the biggest and most reputable accounting bodies in the world. You’ll be able to explore a broader range of professional options, get greater job security, and boost your earning potential by more than 10%.
Many US businesses now use foreign banks and accounting firms to handle their money and books. Therefore, there is a global need for foreign professionals who are well-versed in the US economy, tax code, regulatory landscape, and auditing and bookkeeping best practices. Obtaining your US CPA credential shows any potential employer or client that you are knowledgeable in and skilled in these areas.
Getting a US CPA certification is advantageous not just for employment in the United States but also in several other countries. The American Institute of Certified Public Accountants (AICPA) maintains MRAs with nine international accounting organizations. That means you can use your CPA license from the United States to work as an accountant in the following countries: Australia, Canada, China, Hong Kong, Ireland, Mexico, New Zealand, Scotland, and South Africa.
The US CPA throws up a world of opportunities, whether you want to become a digital nomad or want the freedom to travel whenever you choose.
Are you an international accountant looking to pursue CPA in the US? The first thing you need to do is evaluate your eligibility. Learn the state requirements for CPA in your state. You will also need a credential evaluation to apply for the CPA exam. ERES can help you out in this regard
We will summarize and interpret your transcripts and other academic records. With the help of our CPA credential evaluation report, you can show the board that you have the required education to sit for the CPA exam in the United States.
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Educational Records Evaluation Service helps Non-US educated individuals to receive their US equivalences with our credential evaluation reports.
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