CPE Quicklinks

Reporting Requirements Limitations CPE Sponsors Noncompliance Audit

 
 

Minnesota Board of Accountancy

Regulation • Licensure • Enforcement • Public Service

 

Continuing Professional Education


CPE to Maintain Professional Competency

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 2012 Statement on Standards for Continuing Professional Education (CPE) Programs jointly approved by NASBA and AICPA or other standards acceptable to the Board.

 

 Notice

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.


CPE Reporting

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

While you can report your CPE as early as January 1 (six months before the reporting year ends and almost a full year before the reporting deadline), be aware 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. 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.

 

Newly licensed and wondering when you start reporting CPE?

If you are newly licensed, when you must begin reporting depends upon when in the year you were licensed.

  • Licensed between January 1-June 30? You begin earning CPE that July 1-June 30 and you first report that December. Example: Licensed June 30, 2018; begin earning July 1, 2018-June 30, 2019; first report by no later than December 31, 2019.
  • Licensed between July 1-December 31? You don't need to begin earning CPE until the following year July 1-June 30 and you first report that December. Example: Licensed July 1, 2018; begin earning July 1, 2019-June 30, 2020; first report by no later than December 31, 2020.

CPE Requirements

See MN Rules 1105.3000-1105.3350 for additional information.

  • There are both single reporting year and rolling three-year CPE requirements.
  • The CPE reporting (or "fiscal") year runs from July 1 to June 30.
  • CPE for any given year must be earned within that July 1 to June 30 period and reported by no later than December 31.
  • Nonresidents seeking exemption from Minnesota CPE requirements must claim that exemption every year by December 31.
  • Each reporting year you must earn a minimum of 20 hours.
  • In any given three-year reporting period, you must have a minimum of 120 hours, with 8 of those hours being in ethics.
  • Carry forward of hours is not allowed.
  • Carry back of hours is allowed, provided the CPE noncompliance fees are paid as required by MN Rules 1105.3000 E.
  • Licensees are required to retain CPE coursework documentation for five years following completion of each program. What that documentation must consist of is described in MN Rules 1105.3200 B.
  • When a new CPA must begin reporting depends upon when in the reporting year they were licensed. Please see the sidebar above and MN Rules 1105.3000 G for details.

CPE Limitations

The following hour limitations apply during the rolling three-year CPE period:

  • A maximum of 60 hours may be claimed for presenting or instructing qualifying courses or seminars (see "Teaching/Speaking Credits" below for more details);
  • A maximum of 60 hours may be claimed for authoring articles, books, or CPE courses for publication (see the Statement on Standards for CPE for information on how to calculate and report);
  • At least 24 hours must be obtained from attending instructor-led programs (not self-study);
  • A maximum of 24 hours may be obtained from programs in the subject area of personal development; and
  • At least 72 hours must be obtained through programs meeting the registry requirements under MN Rules 1105.3100, subpart 4.

Self-study courses must be listed on the NASBA CPE Registry as "NASBA-approved."

 

Teaching/Speaking Credits

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.


Approved CPE Sponsors

  • Courses listed on the NASBA CPE Registry.
  • The office of the Legislative Auditor or State Auditor, if a peer review has been completed in the last three years and an unmodified report on such a review has been filed with the Board. This peer review must be similar in scope to a system review level peer review conducted on a CPA firm.
  • CPA firms who have had a system review level peer review completed in the last three-years and an unmodified report on such review has been filed with the Board.
  • Colleges and Universities whose academic programs qualify an applicant to sit for the CPA examination. (To convert college credits to CPE credits - one semester credit is equal to 15 CPE credits; one quarter credit is equal to 10 CPE credits.)
  • CPE programs sponsored by professional organizations recognized by the Board as Report Acceptance Bodies pursuant to part 1105.5300.
  • CPE programs sponsored by professional organizations recognized by another state's board of accountancy.

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.

 

Non-Approved CPE

CPAs are allowed to take instructor-led courses from non-Registry/non-approved sponsors, provided the program contributes to the professional knowledge and competence of the individual CPA, and provided the aggregate hours of the program do not exceed 40% of the three-year 120 hour total. 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 courses must be specifically from NASBA-approved Self-Study Sponsors; self-study cannot be taken from non-approved sponsors.

Documentation for non-registry programs must consist of the following:

  • a certificate of attendance from the program sponsor containing the name and contact information of the sponsor, participant's name, title and description of the content of the program, the date of the program, the location of the program, type of instructional/delivery method used, the number of CPE hours for which the licensee attended, and verification by the CPE program sponsor representative;
  • a copy of the detailed timed agenda for the program; and
  • a statement by the licensee describing how the program contributes to the licensee's professional knowledge and competence.

 


CPE Noncompliance

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 on June 30 of each year 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.


Random CPE Compliance Audit

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 shall be assessed the late processing fee required in part 1105.3000. Fraudulent reporting is a basis for disciplinary action.


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