Tuesday, October 1, 2013
Getting CPE Credits for CPAs
If you're
a Certified Public Accountant (CPA) and a member of the American Institute of
CPAs or AICPA, you inevitably have to take a continuing professional education
(CPE) program. This will enable you to earn the required credits in order to
continue with your practice. Such a program, as specified by the National
Association of State Boards of Accountancy or NASBA, helps regulate the
accounting profession in each state.
How many
CPE credits do you need to acquire, and how often do you need to take them?
Requirements may vary from state to state, but it's usually around 20 hours
worth of CPE credits per year, with at least 120 hours for a three-year period.
That's around 40 hours of CPA credit per year on the average. Other states
require accountants to take CPE courses on Ethics once every two years.
Most
states do not have approval processes for CPE sponsors but do specify minimum
guidelines in order to consider such sponsors valid. Others require
registration to become Quality Assurance Service (QAS) sponsors, although State
Boards have the final say on the validity of courses for CPE credits. Those who
plan to take such courses must first verify with their State Boards to ensure
that the courses are acceptable and can be credited.
The good
news is that CPE programs can
be taught through interactive online or self-study courses. Whichever kind of
study scheme you choose, be sure to choose a course provider that complies with
state rules and regulations.
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