Minnesota Board of Accountancy

Regulation • Licensure • Enforcement • Public Service



NEWS

June Board Meeting Time Change

The June 13, 2019, full Board will meet at 9:00 a.m. The CPE Committee will meet at 8:30 a.m., with all other committees meeting at their previously scheduled times.

Board Calendar

Five Minnesota Exam Candidates Win 2018 Elijah Watt Sells Award

The AICPA announced its 2018 Elijah Watt Sells Award winners. To win the award an individual must obtain a cumulative average score above 95.50 across all four sections of the CPA Examination, pass all four sections of the Examination on the first attempt and complete testing in the award year.

Nearly 86,000 individuals sat for the CPA Exam in 2018 with 110 candidates meeting the criteria to receive the Elijah Watt Sells Award. Five of those were Minnesota Board exam candidates:

  • Amy Fursa (Minnesota), a graduate of College of Saint Benedict and Saint John’s University with a BA in Accounting is employed with Ernst & Young, LLP in Minneapolis, Minnesota.
  • Adam Heussner (Minnesota), a graduate of University of Wisconsin-Eau Claire with a BBA in Accounting, is employed with PricewaterhouseCoopers of Minneapolis, Minnesota.
  • Jake McElmury (Minnesota), a graduate of University of Minnesota-Twin Cities with a BSB in Accounting and Finance, is employed with Deloitte in Milwaukee, Wisconsin.
  • Matthew Sorensen (Minnesota), a graduate of The University of Minnesota – Twin Cities with a BSB in Accounting and Finance is employed with KPMG in Minneapolis, Minnesota.
  • Ted Spilde (Minnesota), a graduate of Hamline University with a BBA in Accounting and Master of Accounting with Data and Analytics from the University of Missouri is employed with KPMG in Minneapolis, Minnesota.

The Elijah Watt Sells Award program was established by the AICPA in 1923 to recognize outstanding performance on the CPA Examination. Sells, one of the first CPAs in the U.S., was active in the establishment of the AICPA and played a key role advancing professional education within the profession.

Our congratulations on this achievement go out to all the winners.

CPE Earning Deadline is June 30

A reminder that only a few months remain to earn the continuing professional education (CPE) you must then report no later than December 31 or the date you renew (whichever is sooner). CPE earned after June 30 in order to meeting FY19 1-year or FY17-19 rolling three-year requirements is subject to noncompliance ("late earning") fees.

The Board highly recommends you review your FY17 and FY18 CPE in Online Services as soon as today so that you are certain of what CPE you need for FY19 so that you can avoid fees and be ready to renew in the fall.

The Board has also prepared a digital newsletter containing smart tips on CPE.

UAA Committee Seeks Comments on Proposed Model Rules for Peer Review Programs

The AICPA/NASBA Uniform Accountancy Act (UAA) Committee has released draft proposed changes to the UAA Model Rules that pertain to peer review (compliance assurance) programs. As the changes are significant, the committee is strongly encouraging Accountancy Boards and other interested parties to review the proposed changes and submit comments to the UAA Committee.

The deadline for submitting comments to the committee is June 30, 2019. You can email your comments in the form of letters to lhaberman@nasba.org.

UAA Draft Model Rules on Peer Review

2019 Executive Committee Elected

At the December 4, 2018, Board members elected the current Executive Committee to their same positions for 2019.

  • Greg Steiner, CPA, Chair
  • Sharon Jensen, CPA, Vice Chair
  • Charles Selcer, CPA, Secretary/Treasurer

Notice of Proposed Rule Changes

The Board is considering rule amendments related the examination and other housekeeping items. For details and how to comment, see the Board's rulemaking page.

Rulemaking
Sharon Jensen

Jensen Elected as NASBA Director at Large

Sharon Jensen, CPA, Board Vice Chair, was elected to serve as a Director at Large for the National Association of State Boards of Accountancy (NASBA), of which the Minnesota Board is a member. NASBA has a total of seven Directors at Large who serve on the Board of Directors. Elections took place at the NASBA Annual Business Meeting.

Previously, Ms. Jensen served as NASBA Central Region Director, Chair of the NASBA/AICPA International Qualifications Appraisal Board (IQAB), and member of NASBA's Legislative Support and Global Strategies Committees.

Directors at Large are elected for a three-year term and may serve a maximum of two terms. They attend NASBA Board meetings, held four times a year, and the regional meetings for their area. They chair a committee of the Board of Directors.

Godson Sowah

Sowah Honored for Volunteer Work

Godson Sowah, Board Member and Examination and Credentialing Committee Chair, was recently honored by the Minnesota Society of CPAs (MNCPA). He was given a Public Service Award for his work as board president of Avenues for the Homeless Youth, and as program director for the Accounting Career Awareness Program.

Sowah was presented the award at MNCPA's Celebrate CPAs Award Luncheon.

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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 May 2019):
• Failed to report CPE on time in 2016 and 2017 but earned it both years in the proper timeframe: Total fee is $1200.
• Failed to complete CPE on time for 2018 and reported late for 2017: Total fee is $750.
• Reported late for 2018 but earned CPE in proper timeframe: Total fee is $150.
• Reported late for 2016 and 2017 and failed to complete on time in 2018: Total fee is $1500.
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: Fee is**: Submit: Failed to complete CPE by*: Fee is**:
12/31/18 $150 Certificates of completion for only those hours earned after 6/30/2018* and required fees** 06/30/18 $300
12/31/17 $450 Certificates of completion for only those hours earned after 6/30/2017* and required fees** 06/30/17 $600
12/31/16 $750 Certificates of completion for only those hours earned after 6/30/2016* and required fees** 06/30/16 $900

* 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 CPE rates if submitted/postmarked by MAY 2019 [MN Rule 1105.3000 (E)(2018)]. License fees and  late renewal fees are not included. See the appropriate renewal form and status for those costs.

For renewals/CPE prior to these dates, please see Reinstatement.

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