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
Am I required to be a member of CPA Bermuda?
CPA Bermuda is mandated by the Bermuda Government to educate and regulate professional and public accountants to protect the public interest and ensure the integrity of the profession.
Section 9(5) of the Chartered Professional Accountants of Bermuda Act 1973 requires that an individual joins membership if they use their designation in Bermuda (examples include, but not limited to, having it on your resume for purposes of job seeking in Bermuda & displaying it on public profiles/ bios). However, these examples are not exhaustive, and we encourage qualified individuals to genuinely ask themselves are they holding themselves out in any way that would give a person or organization confidence in them as a qualified accounting professional.
Furthermore, a qualified accountant in Bermuda (with a designation) that is engaged/employed to perform one or more of the following functions must be a member of CPA Bermuda:
- preparation of financial statements,
- designing or controlling systems of records,
- investigating or auditing financial statements,
- issuing a written opinion, report or certificate on financial statements or accounts
This requirement is defined in the Chartered Professional Accountants of Bermuda Act 1973. Persons who decide not to join are not allowed to hold themselves out as professional accountants in Bermuda and engage in performing these services.
How do I apply to become a member?
Membership application forms are found here. If any questions, please email applications@cpabermuda.bm.
How much are fees per year to become a member?
Fees are determined by each individual member's circumstances, designation and member category. Please see the current fee schedule found here.
How do I pay my membership fees?
All invoices are issued to members electronically and fees can be paid online via credit card through the member portal or wire transfer.
How do I change my contact details?
Members can update some details on their member profile directly otherwise, any changes should be emailed to info@cpabermuda.bm.