Telephone: (803) 896-4770 Doris Cubitt, CPA,
Advice Counsel to the Board
providing legal advice to all Boards, Commissions
and Panels, as well as their administrative staff.
These attorneys do not provide legal advice to
parties outside LLR.
Telephone: (803) 896-4770
Doris Cubitt, CPA,
Section 40-2-500 States:
(1) (An applicant shall) not have any history of dishonest or felonious acts;
(2) Be a resident of this State or have a place of business in this State, or as an employee, be regularly employed in this State;
(3) Be at least eighteen years of age; and
(4) Meet these requirements:
(a) Pass the Financial Accounting & Reporting (FAR) and Regulation (REG) sections of the CPA Examination; and
(b) Have a bachelor's degree with a major in accounting as determined by the board from a four-year college or university accredited by the Southern Association of Colleges and Schools or from a college or university having equivalent standards as determined by the board;
(5) Surrenders, if licensed and holds a current annual permit to practice in this State as a certified public accountant or public accountant, his license and permit to practice as a certified public accountant or public accountant upon being licensed as an accounting practitioner.
Regulation 1-11 states:
(A) To meet the educational qualifications for licensure as an accounting practitioner,
(1) the applicant shall submit an official transcript signed by the college or university registrar and bearing the college or university seal to prove education and degree requirements; photocopies of transcripts will not be accepted; and
(2) a major in accounting shall include at least twenty-four (24) semester hours, or equivalent in quarter hours, of credit in accounting courses. No more than three (3) semester hours in business law courses and three (3) semester hours in taxation courses may be counted as accounting courses; and
(3) the Board shall accept any college or university accredited by the Southern Association of Colleges and Schools and any other accrediting association having the equivalent standards or any independent senior college in South Carolina certified by the State Department of Education for teaching training.
(B) To meet the examination requirement for licensure as an accounting practitioner, the applicant shall take sections of the Uniform Certified Public Accountant Examination prepared by the American Institute of Certified Public Accountants and receive a passing grade on the following subjects:
(1) Financial Accounting and Reporting (FAR);
(2) Regulations (REG).
Effective November 1, 2006 the Board requires anyone requesting licensure as an Accounting Practitioner to complete an ethics course. The required course is "Professional Ethics: The AICPA's Comprehensive Course" with a passing grade of 90 or above.
To apply for an Accounting Practitioner's license:
Complete and submit an Accounting Practitioner Application.
Pay $50 in the form of a check or money order made out to: SC Board of Accountancy.
Submit an original of your university/college transcripts (copies or faxes will not be accepted).
Submit a copy of your grade report from CPAES showing your FAR and REG scores
Submit a copy of your grade report from AICPA showing your passing score of the above mentioned Ethics course.
Requirements to maintain license:
At least 40 hours of CPE are required to be completed by December 31 of each calendar year (See Education). Hours are to be reported with renewal on or before January 1st of each calendar year.