Go inactive, must retake CPA exams ??

  • Creator
    Topic
  • #193477
    Anonymous
    Inactive

    So I just read this frightening section on the South Carolina CPA FAQ’s section:

    Q. Can I go on inactive status?

    A. There is no provision for an inactive status. You must either be active (pay renewal fee and turn in CPE), Voluntarily Surrender your license and not sign anything as a CPA or hold out, or apply for Emeritus Status, form 5000.

    Emeritus Status is permanent. You cannot use any of your financial skills for compensation. If at a later date you want to become an active CPA, you must retake the CPA Exam. On the application for emeritus status give details as to your current occupation.

    I just completed my last exam and will begin working at the end of this summer in Virginia. I suppose I should transfer my scores anyway, but are there any other states that do not allow you to go inactive status as a CPA (as in you must retake the exams if you decide to go inactive??)

    If I do transfer my scores and become a CPA in Virginia, will I be completely exempt from all South Carolina rules even though I passed the exams as an SC candidate?

    I think it said in Virginia you can reinstate your license by paying a fee of like $350. I’ve heard of some states requiring you to take CPE to get licensed again but it freaked me out seeing that SC has no inactive provision and makes you retake the exams..

    Anyone have any experience with this? Do other states have similar provisions?

Viewing 4 replies - 1 through 4 (of 4 total)
  • Author
    Replies
  • #662599
    Missy
    Participant

    Why would you go inactive in the first place, once you're licensed just renew and do the CPE.

    Licensed Massachusetts Non Reporting CPA since 2012
    Finance/Admin/HR Manager

    #662600
    KBinMN
    Member

    Wow that's horrible.

    I could see going in active for a number of reasons, you shouldn't have to retake the exam, that's ridiculous. In MN I've seen people have to take a ton of CPE or re-pass the exam if they want to go from being inactive to active. The person I knew opted to take the CPE.

    #662601
    Anonymous
    Inactive

    Makes sense to go inactive if you are taking time off from your career (to have kids, for instance, or go back to school and pursue another degree), and you don't want to deal with the hassle of CPE and paying licensing fees for a certification you're not using.

    Having said that, if you're not working in the profession and not keeping up with the CPE, it also makes sense that you'd have to do something to prove you have maintained an acceptable knowledge base in order to be reinstated. Doctors and lawyers have to go through re-entry programs when they take an extended leave of absence from their practice. Seems logical that CPAs would have to do the same thing.

    #662602
    Thrawn
    Participant

    Wisconsin is nice, no CPE required unless you are a member of the AICPA or WICPA, so just renew and pay the fee every 2 years. If you go inactive for more than 5 years you must retake the exam.

    BEC 87 Feb 14
    REG 84 Apr 14
    FAR 82 Nov 14
    AUD 86 Feb 15

Viewing 4 replies - 1 through 4 (of 4 total)
  • The topic ‘Go inactive, must retake CPA exams ??’ is closed to new replies.