Hearing on Proposed Rule Changes Scheduled for July 26
The Board received the required 25 minimum requests for a hearing on Rule Package Revisor ID Number R-04392. A hearing will therefore be held on Wednesday, July 26, 2017, at 9:30 am in Suite 295, Golden Rule Building, 85 E. 7th Place, St. Paul, Minnesota 55101.
Cyber Criminals Targeting Tax Professionals
The IRS warns tax professionals that account takeover attempts are on the rise.
July Complaint Meeting Canceled
The Complaint Committee meeting scheduled for July 25 is canceled.
CPE Earning Deadline Is June 30
To be complaint with Board rules and avoid fees, CPE must be earned by June 30.
If you have your hours completed, you can enter them at any time through Online Services or wait until you renew in the fall (by December 31).
Governor Dayton Appoints Sowah, Reappoints Vekich to Board
The Governor recently announced his appointments to the Board of Accountancy:
Godson Sowah, CPA, is a Senior Manager in the Advisory Services practice of Ernst & Young LLP, providing IT risk and advisory services to Fortune 500, middle-market and multinational organizations. Recent awards include 2016 St. Paul Area Chamber of Commerce Young Professional of the Year and Minneapolis/St. Paul Business Journal 2016 Titans of Technology honoree. He is President of the National Association of Black Accountants Minnesota Chapter. His community work includes serving as President of the Board for Avenues for Homeless Youth and as Program Director for the Accounting Career Awareness Program. Both on the job and in the community, he provides mentorship and support around building a culture of diversity and inclusivity.
Michael Vekich, CPA, currently serves on the Board as Secretary/Treasurer and as Chair of the Complaint Committee. He is CEO of Vekich Chartered in Minneapolis. Other state appointments include Member At-Large and Contact and Chair for the Board of Trustees of the Minnesota State Colleges and Universities System.
Notice of Proposed Rule Changes
The Board will publish in the June 12, 2017, issue of the State Register a Dual Notice of Intent to Adopt Rules Without a Public Hearing Unless 25 or More Persons Request a Hearing, And Notice of Hearing if 25 or More Requests for Hearing Are Received. Se the rulemaking page for more information and how to comment.
Be Aware of "Board of Accountancy" Email Phishing Scam
The Board is hearing of the re-emergence of a general (not specific to the Minnesota Board) scam that purports to be a message from the Board regarding your license and that includes an attachment.
The Board does not send notices requiring reply or response by email regarding your license status. All communications of that nature are delivered only by mail.
If you receive such a message, do not open the attachment. You may also want to consider contacting your company's IT department to alert them to this scam.
You can safely check your license status directly on the Board website by using "Find a CPA." Contact the Board if the status there does not match your records.
AICPA Releases Revised Peer Review Document, Seeks Input
The AICPA has released a revised draft of its Proposed Evolution of Peer Review Administration. They are seeking comments and responses by June 30, 2017, directed to Beth Thoresen, Director – Peer Review Operations, AICPA Peer Review Program, AICPA, 220 Leigh Farm Road, Durham, NC 27707-8110 or email@example.com.
AICPA Peer Review Admin Proposal (PDF)
2017 Late Renewal
Those renewing after December 31, 2016, are reminded that, in addition to the regular licensing fee, a $50 delinquency fee as well as any CPE late reporting fees will apply. All unrenewed licenses, registrations and permits expired December 31, 2016.
- Those renewing as Inactive status may still use Online Services. Payment is by Visa, MasterCard or Discover.
- ALL OTHERS must use paper (PDF) forms that can be completed electronically, printed, and then mailed in. When submitting a paper form, payment must be by check (no cash or credit card).
Answers to questions concerning renewal can be found on the Frequently Asked Questions page.
You can check to see if your license, permit or registration has been renewed using "Find a CPA" (Individual or Firm). Search by your last name or license number. If you were renewed, your expiration will read "12/31/2017."
Allow a few days before expecting your expiration information to update on "Find a CPA." If your expiration date does not update as expected, please contact the Board.
Notice Regarding CPE Standards
The Board has not changed its rules to reflect the new 2016 Statement on Standards. At this time the Board does not accept nano learning nor does it accept partial-hour credits except as specfied in the 2012 Statement on Standards.
2012 Standards (PDF)
Practice Continuity Information Kit Available
AICPA and NASBA have created a document aimed at assisting sole proprietors and other small firm owners consider and create a plan around practice continuity in the event of the death or incapacity of the firm's principal member.
Continuing Professional Education Reporting Fee Chart
Either the left or the right fee column for any given year will apply. If you are noncompliant in more than one year; you owe the applicable fee for each year.
Examples (rates valid only for July 2017):
• Failed to complete CPE on time for 2016 and reported late for 2015: Total fee is $850.
• Reported late for 2016 but earned CPE in proper timeframe: Total fee is $200.
• Failed to report CPE on time in 2015 and 2016 but earned it both year in the proper timeframe: Total fee is $700.
• Reported late for 2014 and 2015 and failed to complete on time in 2016: Total fee is $1650.
|Reported CPE late but earned the CPE during the proper timeframe, use these columns:
||Failed to complete CPE in proper timeframe (and so also did not report it on time), use these columns:
|Failed to report CPE by:
||Complete and/or submit:
||Failed to complete CPE by*:
||Certificates of completion for only those hours earned after 6/30/2017 and required fees**
||Certificates of completion for only those hours earned after 6/30/2016 and required fees**
||2016 CPA certificate renewal form* and required fees**
||2015 CPA certificate renewal form* and required fees**
|*If you completed CPE hours after the June 30th deadline(s), you must include copies of the certificates of completion for those hours.
|**The above-referenced fees reflect the rates if submitted/postmarked by JULY 2017.
MN Rule 1105.3000 (E)(2016)