Board Office Closed on Thanksgiving

The Board office is closed Thursday and Friday, November 23-24,2023, for the Thanksgiving Holiday. Online services will remain open.

Stay on Target for 2024: Renew Today!

Renewals Now Open for ALL Licensees, Registrants and Firms

Renewals have opened for everyone including CPA and RAP firms. These firms should look for a letter from the Board mailed October 25 that contains renewal information and a firm owners list.

• Inactive licensees renewing for 2024 must use Online Services. There is no paper renewal option.
• Active licensees and Sole Proprietor firms that do not provide services that require peer review and that do not have non-CPA owners can renew using Online Services.
• All CPA firms as well as those SP firms that do not meet the criteria above must use paper forms.
• All RAPs and RAP firms must use paper forms.

A reminder that if you have a CPE requirement (Active licensees licensed prior to July 1, 2022, and those seeking to change from Active to Inactive), you must complete and report CPE prior to renewal.

DO NOT ENTER CARRYBACK HOURS ONLINE. CPE entered online must be earned in the proper period. Falsely reporting CPE hours may result in disciplinary action (Minnesota Rule 1105.3000 E (2023)). See "CPE Reporting" for instructions on how to report carryback hours.

Rule Changes Effective October 9

Several changes regarding Minnesota Rules, Chapter 1105, were adopted by the Board and became effective October 9, 2023. In addition to minor housekeeping items and updates to documents incorporated by reference, changes include:

• changes necessitated by the addition of “retired status” and the removal of “automatic revocation” from Minnesota Statutes, Chapter 326A;
• requirements for continuing professional education (CPE), including CPE requirements for status change;
• requirements for the composition of the peer review oversight committee;
• validity dates for applications for individual and firm permits;
• requirements related to providing verified experience for licensure;
• requirements for notification by firms of changes to firm ownership, status with the Office of the Secretary of State to operate as a registered business entity, and dissolution/termination of the firm;
• minimum requirements for the retention of documents related to professional services other than audit; and
• update definitions related to education and continuing education examination.

For the authoritative version of Minnesota Rules, Chapter 1105, see the Revisor's website. Note: There may be a delay before the rule changes are live. The Board has prepared an overview of those changes most likely to be of interest to applicants, licensees, and firms.

Lifson, Moore, and Rosenwald Appointed to the Board

On May, 4, 2023, Governor Tim Walz appointed Todd Lifson, CPA, to a four-year term with the Board of Accountancy.

Mr. Lifson is a Partner with EisnerAmper and has more than thirty years of comprehensive business experience. He specializes in highly complex audit, tax, and merger acquisition engagements. Mr. Lifson is also an advisor to many boards of clients, helping them navigate primarily financial matters and advising on operational items, succession issues, leadership changes, and growth strategies. He has worked with the Financial Accounting Standards Board’s (FASB) Emerging Issues Task Force (EITF) and served as a project manager for the development of a Securities and Exchange Commission (SEC) manual.

On June 30, 2023, Governor Tim Walz appointed Douglas Moore and Diane Rosenwald to four-year terms with the Board of Accountancy as Public Members.

Mr. Moore held finance roles supporting functions at large and midsized corporations in the Twin Cities for more than 20 years. These assignments frequently brought him into contact with members of the accounting profession for audit and consulting work from a customer point of view. For more than 10 years he has also volunteered as a tax preparer and reviewer in the IRS Volunteer Income Tax Assistance program. The experience showed Mr. Moore how necessary good financial services are to Minnesotans across the socioeconomic spectrum.

Ms. Rosenwald received her Bachelor of Arts degree from the University of Minnesota, Morris, and did graduate studies in food science at the University of Minnesota, St. Paul. In her extensive career as a food scientist at Pillsbury and General Mills, she has been awarded over a dozen patents and was a technical lead on the teams that created and implemented electronic laboratory notebooks (scientific research records) at both Pillsbury and General Mills. Ms. Rosenwald has over 15 years of volunteer experience with Prepare + Prosper (formerly Accountability MN) preparing and reviewing standard and self-employment tax returns.

Board Approves CPA Exam "Transition" Credit Extension

The Board voted at the September 2022 meeting to automatically extend section credits for anyone sitting for the exam as a Minnesota candidate with UNEXPIRED credits as of January 1, 2024. The expiration date for those "as of January 1, 2024 unexpired" credits will be extended through June 30, 2025.

Minnesota candidates to whom this would apply will not need to request an exception from the Board; the extension will be automatically granted.

The move, being undertaking by other state boards as well, is to ease the transition from the current Uniform CPA Exam format and structure to the new exam. See the NASBA Credit Extension Map for more details on other states granting extensions.

License Cards for Current CPA Licensees and SP Firms Available Through Online Services

The Board does not mail license or permit cards upon renewal. Current Active and Inactive status licensees may instead log into Online Services and print a PDF version of their license card. Sole proprietors whose firm permit number is the same as their individual license number can also print a copy of their firm permit.

Log in to Online Services, then select the "License Card" tab (see image). If a card is available, you will see a "print" option. Note that if you have only just recently renewed or become licensed, the card may not be available (or may not show your new expiration date) for 3-5 business days.

When you select "print" a PDF is generated. Where the file saves or how it displays will depend upon the browser/browser settings you use. Lines on the 8 1/2 x 11 printout indicate where to cut to create the traditional oversized and wallet-sized cards.

No license/permit cards are available for CPA firms or RAPs/RAP firms. To verify your status and expiration, use Find a CPA (individuals) and Find a CPA Firm (CPA and RAP firms).

Beware of Email Phishing

The Minnesota Board has learned that a phishing message claiming to be from the Minnesota Board regarding "licensee fee changes" has been circulating. The Board sent no such message (and there are no fee increases). If received, follow the best practices at your firm for dealing with suspicious emails.

Continuing Professional Education Reporting Fee Chart