Accreditation Council for Accountancy and Taxation (ACAT)

The Accreditation Council for Accountancy and Taxation announced that the fall window for taking its three credentialing exams will be open from Nov. 1 to Dec. 15 at test sites across the U.S. The registration deadline is Oct. 30.

The Comprehensive Examination for Accreditation in Accountancy, the Accredited Tax Preparer Exam and the Accredited Tax Advisor Exam are designed for accountants, tax preparers and students seeking to earn the Accredited Business Accountant/Advisor, Accredited Tax Preparer and Accredited Tax Advisor credentials.

The ACAT credentials aim to provide evidence to clients that accounting and tax professionals have achieved a high level of knowledge and skills and abilities needed to effectively serve their clients.

ATPs and ABAs automatically qualify for the IRS Annual Filing Season Program Record of Completion and are exempt from taking the Annual Federal Tax Refresher course and exam. ATPs and ABAs who are AFSP Record of Completion Holders also now have limited representation rights.
ACAT credential holders must meet ongoing CPE requirements and adhere to a code of ethics.

The ABA tests the technical proficiency of accounting and tax professionals in financial accounting, financial reporting, financial statement preparation, taxation, business consulting services, business law and ethics. Emphasis is on a practical approach to public accounting. Achieving the ABA designation in Iowa and Minnesota meets those states’ regulatory requirements to practice public accountancy. The exam is divided into two parts. Practice 1 covers financial accounting and financial statement preparation, presentation and reporting. Practice 2 covers the taxation, business law, business accounting and ethics.
ABA, ATP, and ATA candidates must pass the exams and meet experience requirements to earn the credentials. A blueprint for each exam with more information on topic areas is available at www.acatcredentials.org.

The exam fee for both Practice 1 and Practice 2 of the ABA exam is $400 or $250 for one Practice of the exam. The ATA and ATP exam fees are $250. For more information and to register, visit www.acatcredentials.org or call (888) 289-7763.

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