Question

An example of a spousal equivalent as defined in AICPA independence rules is

Answer 1

An example of a spousal equivalent as defined in AICPA independence rules is someone you live with and have been in a long-term relationship with. Other ways to describe a spousal equivalent is a domestic partner, significant other etc. These people aren't legally married but are considered as such in the eye of the government when it comes to legal matters.

Answer 2

Eligibility to take the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the application is a bachelor's degree from the American University that includes a minimum number of credits in accounting and business administration, plus 1 year of additional study. This 5-year study requirement is known as the “150 hour rule” and has been adopted by most state boards, although there are still some exceptions (eg, California). This requirement requiring 150 hours of study has been adopted by 45 states.

The Colorado State Board of Accountancy allows Chartered Certified Accountants (ACCA), along with Chartered Accountants from eligible jurisdictions (Australia, South Africa, Canada, Ireland, New Zealand) to automatically qualify for the Uniform CPA Exam as candidate in Colorado. Since December 9, 2009, ACCA members are not automatically eligible to take the Uniform CPA Exam.

Step-by-step explanation: