When a member of our team earns a new credential or certification, we celebrate it. It reflects their hard work and dedication, and it also represents something real for the clients they serve.
Moreover, advanced credentials in accounting and finance are not honorary. In addition, they require hundreds of hours of study, rigorous exams, documented experience, and ongoing continuing education. When a professional holds a recognized designation, it means they have met a standard. As a result, an independent credentialing body sets the standard, and this standard reflects genuine expertise.
Thus, understanding what those credentials mean and require informs clients about whom to work with and the value of development.
The CPA License: What It Takes and Why It Matters
The CPA designation remains the most widely recognized professional credential in accounting. Similarly, in Arizona, as in every state, earning a CPA license requires education, examination, and experience.
Education
CPA candidates in Arizona must complete 150 semester hours of college education, which is more than the standard four-year degree. This typically means earning a master’s degree or completing additional coursework beyond a bachelor’s degree. The curriculum must include specific concentrations in accounting and business subjects as defined by the Arizona State Board of Accountancy.
The CPA Exam
The Uniform CPA Examination is one of the most challenging professional licensing exams in any field. The exam covers four core disciplines: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation (which covers federal taxation, ethics, and business law). Nationally, pass rates for individual exam sections typically fall between 40% and 55%. This reflects the depth of knowledge required and the rigor of the testing process. Candidates must pass all four sections. Each section passed has an 18-month window to complete the remaining sections.
Experience
Arizona requires CPA candidates to complete at least one year of professional accounting experience under the supervision of a licensed CPA before they can be licensed. This experience requirement ensures that newly licensed CPAs have applied their knowledge in real client situations, not just in an academic setting.
Ongoing Continuing Education
Earning the license is not the end of the process. Arizona CPAs are required to complete 80 hours of continuing professional education (CPE) every two years to maintain their license. A portion of that requirement must be in ethics. This ongoing education requirement ensures that CPAs remain current on changes in tax law, accounting standards, and professional practice, which directly benefits the clients they serve.
What Advanced Credentials Actually Mean for Clients
The practical implication of working with a credentialed professional is accountability. A CPA is not just someone with accounting knowledge. They are someone who has demonstrated that knowledge through an independent examination process, met documented experience requirements, and agreed to abide by a professional code of ethics enforced by a state licensing board.
That accountability structure matters for several reasons:
- Technical accuracy: Credentialing requirements ensure that CPAs have been tested on the specific technical knowledge their clients rely on, including tax law, financial reporting standards, and auditing procedures.
- Ethical standards: CPAs are bound by professional ethics rules that govern how they handle client information, conflicts of interest, and their obligations when they discover errors or irregularities. These rules are enforced by the state board, not just the individual firm.
- Currency: Continuing education requirements mean that a licensed CPA is not relying solely on what they learned in school. They are actively staying current on the changes that affect their clients’ tax and financial situations.
- Recourse: If a licensed CPA fails to meet professional standards, clients have recourse through the Arizona State Board of Accountancy. That oversight mechanism does not exist for unlicensed practitioners.
Beyond the CPA: Other Credentials Worth Knowing
The CPA designation is the foundational credential in public accounting, but it is not the only one that signals expertise. Depending on a client’s needs, other designations may also be relevant:
- Enrolled Agent (EA): A federally licensed tax practitioner who has demonstrated expertise in tax law and is authorized to represent taxpayers before the IRS. EAs must pass a comprehensive three-part IRS exam and complete 72 hours of continuing education every three years.
- Personal Financial Specialist (PFS): A designation awarded by the AICPA to CPAs who have demonstrated additional expertise in personal financial planning, including retirement, estate, and investment planning.
- Certified Valuation Analyst (CVA): A credential for professionals who specialize in business valuation. Relevant for clients going through a sale, acquisition, divorce, or estate planning process that requires a defensible business value.
- Certified Fraud Examiner (CFE): A credential focused on fraud prevention, detection, and investigation. Particularly relevant for businesses concerned about internal controls and financial risk.
Professional Development as a Client Benefit
At HBL, we view professional development not as a personal achievement for our team members but as a direct investment in our clients. Every credential earned, every continuing education hour completed, and every specialized designation pursued translates into deeper expertise available to the people and businesses we serve.
When a member of our team passes the CPA exam, earns an advanced designation, or completes specialized training, it means the advice we give is grounded in current, tested knowledge. It means our clients can trust that the professionals handling their tax returns, their financial statements, and their long-term planning are working from a base of genuine expertise, not just experience.
We are proud to have a team of credentialed professionals who take that responsibility seriously, and we are always glad to celebrate the milestones that reflect it.
Meet the HBL Team
HBL CPAs has served individuals and businesses throughout Southern Arizona since 1973. Our team includes Certified Public Accountants with deep expertise across tax planning and preparation, outsourced CFO services, accounting and advisory, and estate and trust planning.
Want to learn more about our team or schedule a consultation? Visit our Team page or contact us directly.