Educational Requirements
Candidates for CPA licensure in the state of South Carolina must hold at least a baccalaureate degree or graduate degree with 150 credit hours. Candidates can sit for the CPA exam with just 120 credit hours, but they need 150 in order to become licensed.
Salary
In May 2011, the Bureau of Labor Statistics (BLS) estimated that 13,290 accountants and auditors were employed in South Carolina. The annual average wage for accountants and auditors in South Carolina in 2011 was $59,000.
CPA Licensing in South Carolina
South Carolina CPAs are licensed by the South Carolina State Board of Accountancy. To become licensed, a person must first take the CPA exam after meeting the following requirements:
- Hold at least a baccalaureate degree from a board-approved accredited institution.
- Completed 150 credit hours, with 36 credit hours in accounting courses, of which at least 24 hours must be taught at the junior or above level.
Requirements for licensing as an accounting practitioner in South Carolina:
- Pass the CPA exam.
- Complete the AICPA’s professional ethics course with a passing grade of 90 or above.
- One year accounting experience in public, governmental, or private employment or at least five years’ experience teaching accounting in a college or university recognized by the board.
- No history of dishonest or felonious acts.
Continuing Education Requirements
As of 2013, CPA licenses are renewed annually. South Carolina CPAs must complete 40 credit hours of continuing professional education (CPE) of qualifying programs each calendar year. CPE credit hours must include no more than 8 hours of personal development courses and no more than 20 hours of self study programs. Of the required hours over a three year period, six of the hours must be in ethics and at least two hours in South Carolina rules and regulations. Self-study credits must be approved by the National Association of State Boards of Accountancy‘s Quality Assurance Service (QAS) program.
Accounting Jobs in South Carolina
In October 2012, the South Carolina Department of Employment and Workforce reported that the state’s labor force had increased and since October 2011, unemployment had dropped 1.5 percent. South Carolina CPAs may choose to work for one of several local and regional accounting firms. Two of the “Big Four” accounting firms, Deloitte and PricewaterhouseCoopers, have offices in the state. The state government employs a number of CPAs as well.