Valuations and CPA? – NY

  • Creator
    Topic
  • #1709220
    LSN
    Participant

    Would working in valuations (real estate valuation, business valuation, etc) at a Big-4 or MM firm (BDO, GT, RSM) allow one to meet the necessary CPA work experience requirements if the supervisors directly above does not have a CPA designation? Could one be supervised by someone in tax or audit that one works with from time to time though not directly under or in the same group?

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  • Author
    Replies
  • #1709232
    Recked
    Participant

    Eh, that's probably a stretch.
    I'd read up on the Form 4B and see exactly what the instructions say.

    #1709538
    rencpa
    Participant

    LSN,

    As per NY customer service, I was told that you one can meet the necessary CPA work experience requirements if working under a CPA. You can work in ANY state, but the person above you MUST have a VALID ACTIVE CPA license (which makes sense to me).

    Personally, I will call the customer service and present my situation. This way, you can arrange whatever is needed and don't get disappointed.

    #1709541
    rencpa
    Participant

    In addition, try to find your answer here:

    https://www.op.nysed.gov/prof/cpa/cpalic.htm

    Copied from the link. It is for the NYS license.

    Experience Requirements
    The applicant will record their claimed experience on the application (Form 1). The Form 4B(s) – Verification of Experience by Supervisor must be submitted by the CPA supervisor. Form 4B(s) submitted by the applicant will not be accepted.

    Acceptable experience may be earned in a public accounting firm, government, private industry or an educational institution. The experience can be in one of the following service areas: accounting, attest, compilation, management advisory, financial advisory, taxation, or consulting skills. The experience must be gained under the supervision of a U.S. certified public accountant who is properly licensed and registered or authorized to practice in the jurisdiction of their principal place of business. If a CPA supervisor was not properly licensed or registered or authorized to practice in the state where they practiced, the experience cannot be accepted.

    Same employing organization. The applicant and the supervisor must be employed by the same organization at the time the experience took place. Experience gained by outside employer relationship such as contractors, third party relations, consultants, board members, etc. have not been accepted.

    Multiple employers. If the applicant is unable to gain the required experience at one employing organization, there is no limit to the number of Form 4B(s) that may be submitted on the applicant’s behalf.

    Full-time employment. Full-time experience is considered to be a 5-day work week, with at least 35 hours per week, excluding overtime.

    Part-time employment. Part-time experience is acceptable when the applicant has worked at least 20 hours per week. Two part-time weeks equate to one full-time week. When the applicant is in a part-time status and works at least 35 hours per week, it will be accepted as a full-time week. All part-time experience requires supplemental documentation as outlined in the instructions of the Verification of Experience by Supervisor – Form 4B See the instructions for Employer Form 4B for further detail on qualifying experience.

    150 semester hour pathway applicants: An applicant who meets New York's 150 semester hour education requirements for licensure must document one year of full-time experience, or the part-time equivalent, as described in the paragraph above.

    120 semester hour pathway applicants: An applicant for licensure who met the eligibility requirements for grandparenting under New York's 120 semester hour education requirements must document at least two years of full time experience, or the part-time equivalent, as described in the paragraph above. An applicant who is eligible for grandparenting may choose to take the additional course work required to meet the 150 semester hour requirements and thereby qualify for a one year reduction in the experience requirement. Such an applicant must have the schools submit official transcripts documenting the additional course work to the Education Department for review.

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