State licensing boards issue and regulate the CPA designation according to their own rules, but many requirements exist in most or all states.All states currently require 150 semester hours of college education for new CPA applicants, based on a curriculum determined by each state. CPAs must hold at least a bachelor's degree. Many earn a master's degree or higher because most bachelor's degrees only require 120 semester hours.CPA candidates must pass all four sections of the Uniform CPA Examination: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). REG focuses primarily on tax. The test takes 16 hours in total, though candidates take each section on separate days. Pass rates hover around 50%.All states require at least one year of experienceâsometimes moreâthough what kind of work qualifies differs by state. Many states require an ethics exam, among other prerequisites.Continuing education requirements also vary by state. For example, California requires 80 hours every two years, amongst many other rules.Like EAs, CPAs can handle any tax matter before the IRS. CPAs, unlike EAs, may also offer attest services including financial statement reviews and audits. Their extensive credentialing requirements ensure that CPAs possess a broad understanding of accounting, tax, and business.