As a CA, MBA, ACCA, or other professional qualification holder, you might be qualified for CPA exemptions that lighten your exam load and accelerate your CPA certification. This post discusses all exemption categories—academic, professional, and work-based—along with application procedures and advantages.
CPA Exemptions Based on Professional Qualifications
Professional certifications can ease your way to CPA certification through your qualification for exemptions. These are awarded when your previous credentials meet the requirements of the CPA syllabus.
CA (Chartered Accountancy)
CPA exemption for CA is among the most well-known. CAs from India, Australia, and the UK usually receive credit for in-depth knowledge of accounting, auditing, and taxation.
- Exemptions may include subjects like Auditing and Financial Reporting.
- Some US states recognise Indian CA as fulfilling 120 credit hour requirements.
This CPA exemption saves students time and money and enhances international career prospects.
CMA (Certified Management Accountant)
US CMA holders from IMA are usually exempt from the CPA. CMAs possess deep knowledge in financial planning, performance management, and control of costs.
- Are eligible for performance management-related CPA section exemptions.
- Lowers the exam load for candidates having managerial accounting experience.
The overlap of subjects in strategic finance makes CMA an excellent stepping point for obtaining CPA certification.
CFA (Chartered Financial Analyst)
While not always formally mentioned, CFA charterholders are occasionally exempt from the CPA due to their qualifications in financial reporting as well as ethics.
- Some overlap exists in FAR (Financial Accounting and Reporting) and BEC-equivalent topics.
- Having both CPA and CFA enhances finance and auditing employability.
CFA candidates will particularly gain from the financial analysis segment of the CPA syllabus.
CIA (Certified Internal Auditor)
CIA professionals of the IIA are known for their extensive knowledge of auditing.
- CIA holders may apply for exemption from the AUD (Auditing and Attestation) section.
- Known in jurisdictions where audit-specific certifications are appreciated.
Internal auditors who pursue more general accounting positions gain much from it.
CIMA (Chartered Institute of Management Accountants)
CIMA professionals who are qualified with the CGMA credential can be exempt from sections such as Business Analysis or Financial Management.
- Advanced management accounting material is related to CPA material.
- It enhances the possibilities for qualifying for the new Evolution 2025 model’s CPAs.
CIMA professionals have international recognition for cost accounting and strategy accounting.
ACCA (Association of Chartered Certified Accountants)
CPA exemption for ACCA is gaining general acceptance, particularly in countries where international financial reporting and taxation skills are in high demand.
- Full members of the ACCA can be exempted in several fields.
- Exemptions also differ between state boards; certain of them will still have specific papers tested.
The exemption from the CPA for ACCA is particularly beneficial for international professionals who intend to work in the US or multinational corporations.
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CPA Exemptions Based on Academic Qualifications
Academic qualifications such as MBA degrees and specialised accounting degrees also make candidates eligible for exemption from CPAs.
MBA
An MBA in finance or accounting is a strong qualifier for exemption from the CPA exam for MBA candidates.
- Exemptions can encompass core business environment issues.
- MBAs usually satisfy the 150-credit-hour requirement for obtaining the CPA license.
The exemption of MBA holders from the CPA not only removes exam pressure but also simplifies career advancement in management positions.
Other Recognised Degrees and Educational Credits
In some institutions and curricula, other degrees can also be exempt from the CPA under certain circumstances, particularly in the USA and Canada.
Some accepted qualifications include:
- Bachelor’s in Accounting/Finance
- Master’s in Commerce (M.Com)
- BBA with Accounting Major
- Postgraduate Diplomas in Accounting
- Credits from NAAC-A accredited Indian universities
- Degrees evaluated by NACES-recognised agencies
To be qualified for these CPA exemptions, it’s always best to check your eligibility with the state board concerned or a foreign credential evaluation organisation.
Work Experience-Based CPA Exemptions
In certain US jurisdictions or foreign jurisdictions, significant related work experience can help with CPA exemptions.
- Experience should typically be in accounting, taxation, or auditing.
- May meet educational or ethics requirements.
- Needs to be authenticated by a state-licensed CPA supervisor.
These CPA exemptions can significantly help working professionals transition into CPA certification without redundant coursework or exams.
Benefits of CPA Exemptions
Here are key benefits of leveraging CPA exemptions:
- Reduced Number of Exams: Fewer examination periods to prepare for.
- Time Savings: Accelerate your CPA certification timeline.
- Lower Costs: Pay less for course material and exam fees.
- Boost Career Growth: Employers prefer CPAs with international and interdisciplinary experiences.
- Stress-Free Preparation: Focus only on areas where you lack prior exposure.
- Custom Career Path: Choose exam areas that complement your specialisation.
Whether it’s a CPA exemption for MBA, CPA exemption for CA, or CPA exemption for ACCA, these benefits make the journey faster and smarter.
How to Apply for CPA Exemptions
To apply for your CPA exemptions, do the following:
- Determine Your Jurisdiction: Each US state board has its own rules.
- Get Credentials Evaluated: Utilise agencies such as WES or NASBA International Evaluation Services.
- Submit Application: Include transcripts, certificates, and proof of membership.
- Wait for Assessment: The board will confirm eligible CPA exemptions.
- Plan Your Prep: Focus only on remaining sections after exemptions are granted.
Tip: Double-check the requirements for the CPA exam for the state in which you intend to apply.
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Final Thoughts
Gaining the CPA credential is a career highlight in itself, and if you’re exempt from CPAs, then all the better. If you’re in possession of a CA, ACCA, MBA, or some other qualifying credential, then potentially you can bypass duplicative CPA modules and accelerate your success.Â
Strategic planning is crucial with revised rules in CPA Evolution 2025. Review your history, take advantage of relevant CPA exemptions where possible, and put your efforts where they will have the greatest impact.
FAQs on CPA Course Exemptions
How to get exemption in CPA?
You can receive CPA exemption through qualifications such as CA, ACCA, or MBA, or through experience in related fields. Submit your application to a state board or evaluation authority.
Are there any exemptions for CPA?
Yes, most of the states permit CPAs for candidates with relevant professional or educational qualifications. Exemptions cut down on the number of accounting exam sections needed.
What is the eligibility to study CPA?
Eligibility typically requires a bachelor’s in accounting or equivalent, 120-150 credit hours, and in some cases work experience. Other exemptions are subject to previous credentials.
Can I do CPA in 3 months?
Although tough, it is possible to finish CPA in 3 months in the case of CPA exemptions and concentrating only on remaining sections. Previous experience in accounting and full-time studying are helpful.
