The youngest person to pass the CPA exam is James "Jimmy" Chilimigras, who achieved this feat at age 15 in 2023, breaking a previous record and earning his license after completing advanced degrees quickly through Western Governors University (WGU). His rapid success involved earning bachelor's and master's degrees by 14 and passing all four sections of the rigorous exam, highlighting his exceptional focus, study habits, and mentorship from figures like Bryan Kesler.
James 'Jimmy' Chilimigras is 15 years old, a Loyola Law student, and the youngest person to pass the Certified Public Accounting exam in the world. After scoring 31 on the ACT at the age of 12, he said he had too big of a passion not to continue his studies.
Most states and territories don't have minimum age requirements in place. In those that do, the minimum age is almost always 18, though you must be 21 in New York and Missouri to take the exam and obtain your CPA license.
Becoming certified is a lot like getting a law license. It's proof that you've mastered the vital elements of your profession through years of academic and technical training. As a CPA, you'll also have access to jobs with higher authority and responsibility — and you'll enjoy greater career stability.
Financial Accounting and Reporting (FAR) is widely considered the hardest CPA subject due to its sheer volume of information, covering vast topics like consolidations, governmental accounting, and complex transactions, often requiring significant memorization and understanding of foundational concepts. While individual experiences vary, FAR consistently appears as the most challenging section for many candidates, even more so than sections with notoriously tricky questions like AUD (Auditing & Attestation) or REG (Regulation).
As of 2020, the vast majority of firms specify mandatory retirement age as 65-68. But CPA firms have created their own unique definition of mandatory retirement. It's the age specified in the partner agreement that partners must retire unless they wish to continue working in some capacity.
With the right amount of experience, being a certified public accountant can mean an eventual position as a chief financial officer (CFO) or a highly paid tax accountant. A CPA's salary usually reaches the high five figures, while senior CPAs in management can earn a six-figure salary.
ROB SCHMITZ, HOST: So what were you doing when you were 17 years and eight months old? Well, Sophia Park was taking the California State Bar exam and breaking a record for the youngest person ever to pass the exam in the state. SOPHIA PARK: Well, we were both 13 years old when we started law school.
6 Tips to Help You Pass the CPA Exam in the First Attempt
Con: Accounting Can Be Stressful at Times
Accountants are under high “stress during busy seasons, especially during tax season, when the hours can be very long,” says Dr. Machuca. Despite the benefits, an accounting career often brings tight deadlines, long hours, and high volumes of work during the annual tax season.
Comparison between CA and CPA
It is difficult to determine which of these professions offers a higher salary, as the salary of a CA or CPA can vary greatly based on several factors. However, in general, CAs tend to earn slightly more than CPAs in India.
While all CPAs are accountants, not all accountants are CPAs. In fact, according to data from the Bureau of Labor Statistics (BLS), and CPA licensure data, only about 50% of accountants in the United States are actively licensed CPAs.
There is no limit. You may fail and retake as many times as needed, as long as you complete all four within 18 months.
Strong financial analysis, critical thinking, and financial software skills are important for success in this field. Adaptability is key due to constant changes in accounting, such as new standards, technologies, and client interaction platforms. Attention to detail is also vital for accurate recordkeeping.
We're also seeing very high demand for many accounting positions through 2025, from entry-level positions up to senior-level management positions. Staff accountants are essential to the day-to-day accuracy of an organization's financial operations and are often the backbone of an accounting department.
To be in the top 1% of US earners, you generally need an income well over $700,000 nationally, with figures around $794,000 cited for recent years, but this varies significantly by state, requiring over $1 million in places like Connecticut and Massachusetts, while being around $400,000-$450,000 in lower-cost states like West Virginia and Mississippi.