Current through Bulletin 2024-24, December 15, 2024
The continuing professional education (CPE) requirements in
Section 58-26a-304 are defined, clarified, or established as follows:
(1) A CPA shall complete at least 80 CPE
hours in each two-year licensure cycle ending on December 31 of each
even-numbered year, except that no CPE hours are required at a first renewal
after initial licensure.
(2) CPE
hours shall include at least:
(a) one hour of
CPE that covers Title 58, Chapter 26a, the Certified Public Accountant
Licensing Act, and Rule R156-26a, the Certified Public Accountant Licensing Act
Rule; and
(b) three hours of ethics
education that cover one or more of the following areas:
(i) the AICPA Code of Professional
Conduct;
(ii) case-based
instruction focusing on real-life situational learning;
(iii) ethical dilemmas faced by accounting
professionals; or
(iv) business
ethics.
(3) A
CPA shall maintain current knowledge, skills, and abilities in each area in
which the CPA provides services to provide services in a competent manner. To
maintain or to obtain the knowledge, skills, and abilities to competently
provide services, a CPA may be required to obtain CPE above and beyond the 80
minimum CPE credits specified in Section 58-26a-304.
(4) The Division incorporates by reference
the AICPA and NASBA Statement on Standards for Continuing Professional
Education (CPE) Programs, revised January 2024. These standards have been
broadly stated in recognition of the diversity of practice and experience among
CPAs. They establish a framework for the development, presentation,
measurement, and reporting of CPE programs and thereby help to ensure that CPAs
maintain the required knowledge, skills, and abilities necessary to competently
provide services and to enable the CPA to provide evidence of meeting the
minimum CPE requirements.
(5)
Reporting Requirements.
(a) The license
renewal deadline and the CPE reporting period deadline shall have the same date
of December 31 of even-numbered years.
(b) Except as otherwise authorized by the
Division, CPE shall be entered in CPE Audit Service for online reporting and
auditing of CPE compliance.
(c) A
licensee applying for license renewal shall report by December 31 of each
even-numbered year, demonstrating completion of at least the minimum number of
CPE hours required under Section 58-26a-304 and this section.
(d) Each person applying for license
reinstatement shall report to the Division at the time of application,
demonstrating completion of the CPE required under Section
R156-26a-307.
(e) If a licensee
reports required CPE and renews their license before December 31 of an
even-numbered year, any additional CPE completed by that licensee through the
remainder of the even-numbered year may be reported and carried forward toward
the next succeeding CPE reporting period.
(6) Carry Forward Provision.
(a) A licensee who completes more than the
required hours of CPE during the reporting period may carry forward up to 40
hours to the next succeeding reporting period.
(b) CPE taken in the current reporting period
and CPE hours carried forward from the previous reporting period shall qualify
as general CPE hours only for the current reporting period.
(7) Failure to comply with CPE
requirements.
(a) A licensee who fails to
complete the required minimum CPE by the reporting deadline may not renew their
license until the required CPE hours have been completed and
reported.
(b) Pursuant to
Subsection 58-26a-304(4), a licensee may request the Board to waive the
requirements or grant an extension for CPE on the basis that the licensee was
not able to complete the continuing professional education due to medical or
related conditions confirmed by a qualified health care provider.
(i) Such medical confirmation shall include
the beginning and ending dates during which the medical condition would have
prevented the licensee from completing the CPE, the extent of the medical
condition and the effect that the medical condition had upon the ability of the
licensee to continue to engage in the practice of accountancy.
(ii) The Board in determining whether the
waiver is appropriate shall consider whether or not the licensee continued to
be engaged in the practice of accountancy practice on a full or part time basis
during the period specified by the medical confirmation.
(iii) Granting a waiver of meeting the
minimum CPE hours is not a waiver of a CPA being required to provide services
in a competent manner with current knowledge, skill, and ability. When medical
or other conditions prevent the CPA from providing services in a competent
manner, the CPA shall refrain from providing such services.
