Educational Requirements
Candidates for CPA licensure in the state of South Dakota must hold at least a baccalaureate degree or graduate degree in accounting or a board-approved course of study with 150 credit hours. Candidates can sit for the CPA exam if they are within 100 days of completing the education requirement.
Salary
In May 2011, the Bureau of Labor Statistics (BLS) estimated that 3,990 accountants and auditors were employed in South Dakota. The average annual salary for accountants and auditors in South Dakota in 2011 was $55,820.
CPA Licensing in South Dakota
South Dakota CPAs are licensed by the South Dakota 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 with an accounting degree or a board-approved course of study.
- Completed 150 credit hours with 24 semester hours in accounting and 24 in business courses.
Requirements to be issued a certificate (license):
- Pass the CPA exam.
- Complete the professional ethics course from the American Institute of CPAs. A candidate does not have to wait until he or she passes the CPA exam before completing the ethics exam.
- The board may require a candidate to complete a board-designed exam that assesses knowledge of the statutes and regulations governing the practice of accounting in South Dakota.
- Earn 2,000 hours of experience, in no less than one year and no more than three, providing any type of service or advice involving the use of accounting, attest, management advisory, financial advisory, tax, or consulting skill.
Continuing Education Requirements
South Dakota CPAs must register to renew their certificate (license) annually. A minimum of 20 credit hours of continuing professional education (CPE) courses must be reported annually, and 120 credit hours obtained in a rolling three-year period. (Each year, CPAs count the current year plus the previous two years.) The board accepts all QAS and registry-approved CPE courses, which can be verified at LearningMarket.org.
Accounting Jobs in South Dakota
The service industry, which includes retail, finance, and health care industries, is the biggest contributor to South Dakota’s economy. Leading employers of accountants in South Dakota include AXA Advisors, LLC; Black Hills Corporation; and Terex Load King. There are several accounting firms throughout the state, and many CPAs have chosen to open up their own practices.