Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Bureau of Professional Licensing
Board of Accounting
Accountancy - General Rules
Part 2 - LICENSURE REQUIREMENTS
Section R. 338.5115 - Educational requirements for the uniform CPA exam; approved educational institutions; adoption of accreditation standards by reference

Universal Citation: MI Admin Code R. 338.5115

Current through Vol. 24-16, September 15, 2024

Rule 115.

(1) To satisfy section 725(1)(b) and (2) of the code, MCL 339.725, an individual shall provide proof, as directed by the department, verifying both the following requirements:

(a) Completion of a curriculum required for a baccalaureate degree consisting of not less than 120 semester hours at a higher education institution approved under subrule (3) or (4) of this rule or considered substantially equivalent under subrule (5) of this rule.

(b) Completion of a concentration in accounting at a higher education institution approved under subrule (3) or (4) of this rule or considered substantially equivalent under subrule (5) of this rule, which includes both the accounting and general business requirements under subrule (2) of this rule.

(2) A concentration in accounting must include both the following accounting and general business requirements:

(a) Not less than 24 semester hours of accounting courses in all the following accounting content areas:
(i) Accounting information systems.

(ii) Auditing and attestation services.

(iii) Cost or managerial accounting.

(iv) Financial accounting and reporting.

(v) Governmental or fund accounting.

(vi) Taxation.

(b) Not less than 24 semester hours of general business courses, other than accounting, which may include any of the following general business content areas:
(i) Business communications.

(ii) Business ethics.

(iii) Business law.

(iv) Economics.

(v) Finance.

(vi) Management.

(vii) Marketing.

(viii) Information systems or technology.

(ix) Quantitative methods.

(x) Statistics.

(xi) Other general business content areas approved by the department.

(3) The standards for recognition of accrediting organizations developed and adopted by the Council for Higher Education Accreditation (CHEA), One Dupont Circle NW, Suite 510, Washington, D.C. 20036, in the publication titled "CHEA Standards and Procedures for Recognition," effective October 4, 2021, which are available at no cost on the council's website at https://www.chea.org, are approved and adopted by reference. If a higher education institution is accredited by the accrediting body of the region in which the institution is located and the accrediting body satisfies the recognition standards of CHEA, then the institution is approved.

(4) The criteria for recognition and the recognition process for the secretary's recognition of accrediting agencies of the United States Department of Education, Office of Postsecondary Education, 400 Maryland Avenue SW, Washington, D.C. 20202, in 34 CFR 602.10 to 602.39, effective July 1, 2020, which are available at no cost on the department's website at https://www2.ed.gov/about/offices/list/ope/index.html, are approved and adopted by reference. If a higher education institution is accredited by the accrediting body of the region in which the institution is located and the accrediting body satisfies the recognition criteria and process of the United States Department of Education, then the institution is approved.

(5) An individual who attended an unaccredited higher education institution shall establish that the applicant has completed educational requirements at a higher education institution that satisfies accreditation requirements substantially equivalent to those recognized in subrule (3) or (4) of this rule, by providing a credential evaluation completed by either the National Association of State Boards of Accountancy (NASBA) or a credential evaluation organization that is a current member of the National Association of Credential Evaluation Services (NACES).

(6) Copies of the standards and criteria approved and adopted by reference in this rule are available for inspection and distribution at a cost of 10 cents per page from the Board of Accountancy, Department of Licensing and Regulatory Affairs, Bureau of Professional Licensing, 611 W. Ottawa Street, P.O. Box 30670, Lansing, Michigan, 48909.

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