The newly adoption Board rules—and, with them, the 2016 Statement on CPE Standards and 2016 NASBA Fields of Study—are effective as of January 9, 2018. Neither the revised Board rules nor the revised standards are retroactive.
How CPE is described, delivered, and recorded will sound significantly different; however, in reality, the underlying requirements remain fundamentally the same. If you have met your CPE requirements in the past, following a similar CPE plan in terms of subject matter, source, and delivery method of CPE during this transitional year makes it likely you will meet your FY2018 CPE requirements.
The Board's plan to implement the new CPE rules and standards was measured and guided by the Board's mission, which includes protecting the public by requiring professional competency:
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Please avail yourself of these resources. Remember that it is your responsibility as a licensee to understand and comply with the rules as written.
The Ledger delivers periodic updates by email*, such as CPE reporting and renewal notices, Board meeting times, and also an electronic version of The Board Report, official newsletter of the Board of Accountancy.
For those holding an Active status CPA license or a RAP license, statutes require that you participate in a program of learning designed to maintain professional competency. The program must meet the minimum standards of quality of development, presentation, measurement, and reporting of credits in the Statement on Standards for Continuing Professional Education (CPE) Programs (Revised August 2016) jointly approved by NASBA and AICPA or other standards acceptable to the Board.
The CPE reporting (or "fiscal") year runs from July 1 to June 30. CPE must be earned by June 30 and reported by December 31 each year. Nonresidents seeking exemption from Minnesota CPE requirements must claim that exemption every year by December 31.
You do not need to wait until December 31 to report your CPE (or claim exemption). Once you have completed all your CPE, report it through Online Services.Online Services
You are only able to enter your CPE for the year once via Online Services. Have all your information gathered prior to beginning. Should you subsequently need to modify your hours, contact the Board office for assistance.
Note: If you did not complete your required CPE by June 30 of the reporting year, you'll need to complete the necessary CPE and send the associated certificates of completion along with all accrued noncompliance fees to the Board office as soon as possible. There is no required Board form; simply send the items requested above. Fees continue to accrue until you submit the certificates of completion and correct fees to the Board office. See "CPE Non-Compliance" section below. If, upon review, you have further questions, contact the Board office.
If you are newly licensed, when you must begin reporting depends upon when in the year you were licensed.
RAPs: See MN Rules 1105.7000 for differences in your requirements and limitations.
CPAs: See below. For additional information, see MN Rules 1105.3000-1105.3350.
The following hour limitations apply during the rolling three-year CPE period:
Instructors, discussion leaders, or speakers who present a learning activity for the first time may receive CPE credit for actual preparation time up to two times the number of CPE credits to which participants would be entitled, in addition to the time for presentation, subject to regulations and maximums established by the Board.
For example, for learning activities in which participants could receive 8 CPE credits, instructors may receive up to 24 CPE credits (16 for preparation plus 8 for presentation). For repeat presentations, CPE credit can be claimed only if it can be demonstrated that the learning activity content was substantially changed and such change required significant additional study or research. See Standard 20.
Documentation for teaching/presenting credits must include the following:
If you submit teaching/speaking credits as "Approved," be sure to include the NASBA registry number or otherwise note the approved sponsor (see list of approved CPE sponsors below) in your records.
Writers of published articles, books, or CPE programs may receive CPE credit for their research and writing time to the extent it maintains or improves their professional competence. For the writer to receive CPE credit, the article, book, or CPE program must be formally reviewed by an independent party. CPE credits can be claimed only upon publication. CPE credits cannot be claimed for both authoring and presenting the same program. See Standard 21.
Documentation for author/writing credits must include the following:
If you submit writing credits as "Approved," be sure to include the NASBA registry number or otherwise note the approved sponsor (see list of approved CPE sponsors below) in your records.
NOTE: Independent study is not self study. It is "an educational process designed to teach a participant a given subject using a learning contract with a continuing professional education program sponsor." (MN Rule 1105.0100 Subp. 9d)
The "learning contract" and the sponsor/instructor must meet the criteria defined in the CPE Standards (see Article 2.5). Some required outcomes include a written report and a presentation to the instructor/sponsor. The sponsor must certify the credits earned and provide their sponsor number (if applicable), name, and contact information.
Independent study can be taken from approved or nonapproved sponsors, as long as it meets the requirements of the Standards. For participants to claim the CPE, they must document the course as specfied in MN Rule 1105.3200.
Group (Live or Internet-based), Self-study, Nano, Blended:
Group (Live or Internet-based):
Note to CPE providers not listed above: In order to be considered an approved CPE provider, you must be registered with NASBA's CPE Registry. Please visit NASBA's website for more information.
CPAs are allowed to take group internet-based and group live programs from non-NASBA CPE Registry/non-approved sponsors, provided the program contributes to the professional knowledge and competence of the individual CPA (keeping in mind that at least 72 CPE hours must be obtained through approved CPE sponsors). The program must meet the minimum standards of quality of development, presentation, measurement, and reporting of credits in the Statement on Standards for Continuing Professional Education (CPE) Programs jointly approved by NASBA and AICPA or such other standards acceptable to the board.
Note: Self-study, nano learning and blended learning courses cannot be taken from non-approved sponsors. Those courses must be provided by a sponsor listed on the NASBA Registry as approved for the specific delivery method.
Documentation for non-registry programs must consist of the following:
MN Rules 1105.3000 states, "Failure to report CPE, failure to obtain CPE required by this part, reporting of an amount less than that required, or fraudulently reporting CPE is a basis for disciplinary action under MN Statutes326A.08. A licensee not in compliance with this part shall be assessed a late processing fee of $50 for the first month, or partial month, of noncompliance and $25 per month, or partial month, of noncompliance thereafter until the date the licensee is in compliance with this part and provides documentation of compliance in writing to the board."Current CPE Fees Chart
Remember: If you are not in compliance with the CPE requirements by June 30th and you need to use "carryback" hours from the subsequent fiscal year, the CPE non-compliance fees continue to accrue until the date you submit your certificates of completion for carryback hours along with payment of the CPE non-compliance fees to the Board.
Each year a percentage of CPAs will be contacted by the Board and required to submit a complete record of CPE for the previous three-year reporting period as part of an ongoing audit process. In cases where the board determines that the hour information supplied by the licensee is not supported by the documentation supplied by the licensee or the hours do not meet the requirements of this chapter, the board may grant an additional period of time in which the deficiencies can be cured or the board may take disciplinary action. Licensees determined not in compliance must pay a late processing fee (see MN Rule 1105.3000(E). Fraudulent reporting is a basis for disciplinary action.