[Anonymous]

I thought I remembered reading a thread about this some time ago but wasn’t sure this was actually common practice.

Say for example I had a debt (student loan related) that was classified as being in default – would this prevent me from getting licensed assuming I met all the other requirements? I’ll be submitting my application soon and would hate to see it rejected due to this.

[MrCPA2B]

From what I have heard , No. Personally, I have had one personal loan default and 3 items sent to collections due to being reckless and irresponsible in my teen years! It hasn't prevented me from getting a job in accounting or for the CPA for that matter. I don't think state boards look into individual financial records of a cpa candidate if they did they most likely would have disclosed this information to you ahead of time and you would have had to consent according to FCRA.

Basically, for getting the CPA, i'd say no. For a job, possibly, some employers tend to be picky and prefer their employees to have an excellent and clean credit history but some employers don't.

AUD- FEB 2014
BEC- APR 2014
FAR- MAY 2014
REG- AUG 2014

Using Wiley CPA Exam Review and Ninja Notes
May the "Force" be with me!

[MrCPA2B]

From what I have heard , No. Personally, I have had one personal loan default and 3 items sent to collections due to being reckless and irresponsible in my teen years! It hasn't prevented me from getting a job in accounting or for the CPA for that matter. I don't think state boards look into individual financial records of a cpa candidate if they did they most likely would have disclosed this information to you ahead of time and you would have had to consent according to FCRA.

Basically, for getting the CPA, i'd say no. For a job, possibly, some employers tend to be picky and prefer their employees to have an excellent and clean credit history but some employers don't.

AUD- FEB 2014
BEC- APR 2014
FAR- MAY 2014
REG- AUG 2014

Using Wiley CPA Exam Review and Ninja Notes
May the "Force" be with me!

[Anonymous]

Thank you for the reply.

It doesn't seem like something they would do but I thought I remembered hearing something about it a while back…. Obviously they wouldn't license somebody with a criminal history or anything related to financial crime, just wasn't sure if this was part of the licensing process. Is it bad form and perhaps unbecoming to have something in default? Perhaps. Does it affect my ability to protect the public and practice public accounting? I reckon it doesn't.

[Anonymous]

Thank you for the reply.

It doesn't seem like something they would do but I thought I remembered hearing something about it a while back…. Obviously they wouldn't license somebody with a criminal history or anything related to financial crime, just wasn't sure if this was part of the licensing process. Is it bad form and perhaps unbecoming to have something in default? Perhaps. Does it affect my ability to protect the public and practice public accounting? I reckon it doesn't.

[mla1169]

No, the licensing board wont check your credit but a potential employer is likely to.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

No, the licensing board wont check your credit but a potential employer is likely to.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Author]

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