Frequently Asked Questions

Frequently asked questions about the operations of CPA Bermuda.

CPA FAQs

Do I need an accounting degree to enroll in the CPA pre-certification program?

No, an accounting degree is not an entrance requirement. The academic prerequisite for admission to the CPA PEP is a university degree in any discipline (undergraduate or post-graduate) from a recognized post-secondary institution. For the preparatory courses and ACAF, the academic entry requirements are 30 credit hours from a recognized post-secondary institution.

An eligibility assessment will determine if you have completed all of the specific accounting and business prerequisites needed for the CPA pre-certification program of your choice.

Do I have to work in an accounting firm to earn the CPA designation?

In fact, there is no requirement to be employed at all during the course of your studies, though the vast majority of candidates do tend to be working full time. Of those employed, roughly 50 per cent work at accounting firms and roughly 50 per cent work in industry, the public sector, and not-for-profits.

However, you will need to gain 30 months relevant practical experience with an employer (in any sector) within seven years of starting the CPA Professional Education Program (CPA PEP). The key is to gain relevant, paid employment that is progressively challenging so as to develop as a professional accountant with appropriate supervision and mentorship.

Read more about the CPA Practical Experience Requirements

Do I need a job to enroll in the CPA Professional Education Program (CPA PEP)?

No, you do not need to be employed to enroll in CPA PEP. In order to earn the CPA designation you need to complete both the academic program and earn 30 months relevant practical experience, however you can take longer than the time enrolled in the academic modules to earn the full 30 months relevant practical experience. Once enrolled, CPA PEP candidates have a time limit of six years to complete all of the academic requirements and seven years to complete the practical experience requirements.

MEMBERSHIP FAQs

What benefits are received if I become a member of CPA Bermuda?

  1. Eligibility to hold oneself out as a "Professional Accountant" and use the initials "CPA, CA; CPA, CGA; CPA, CMA" after one's name in Bermuda.
  2. Ability to perform audits and sign audit reports on behalf of their company.
  3. Advocacy of members' interests as it relates to Governmental regulations.
  4. Access to professional development courses to assist members to keep up-to-date with current professional regulations.
  5. Access to CPA Bermuda's Member Savings Program. Click here to learn more.

How much are fees per year to become a member?

Fees are determined by each individual member's circumstances, in particular where one is employed and where one pays their CPA Canada Prime fees.

How do I pay my membership fees?

  1. Cash payment (hand delivered to CPA Bermuda)
  2. Cheque payment (mailed or hand delivered to CPA Bermuda)
  3. Bank Transfer direct from the member's account to CPA Bermuda's account, advising CPA Bermuda of such a transfer. Be sure to include member name and member ID # in the payment details.
  4. Online payment (not as yet set up in the website).

How do I change my contact details?

Members can email any changes to their record to info@cpabermuda.bm.

Professional Development FAQs

Click CPD-FAQs for the complete PD FAQ listing.