- Report the required CPE to the Board on a form provided by the Board by December 31 of each year.
A carryforward of CPE from one period to the next is not allowed. However, a licensee may carryback CPE hours to satisfy the requirements of a prior CPE period provided that a late processing fee is paid.
Generally, a program qualifies as acceptable continuing professional education if it meets all of the following requirements:
- The program contributes to the growth in the professional knowledge and professional competence of a licensee.
- The program meets 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 other standards acceptable to the Board.
- The program sponsor is a member of NASBA's CPE registry.
The Board will approve a program that, in the determination of the Board, contributes to the growth of the professional knowledge and competence of a licensee even if the program does not meet the above requirements.
A nonresident licensee holding a certificate with an active status issued by Minnesota meets the CPE requirements by meeting the CPE requirements for renewal of a certificate in the state in which the licensee's principal place of business is located. If the state in which a nonresident licensee's principal place of business is located has no CPE requirements for renewal of a certificate, the nonresident licensee must comply with all Minnesota CPE requirements.
The Board may make exceptions to the continuing education requirements for reasons of individual hardship including health, military service, foreign residence, or other good cause, or for a licensee who is retired or who does not perform or offer to perform for the public services involving the use of accounting or auditing skills.
Each licensee is responsible for documenting the acceptability CPE programs and the validity of the credits claimed. Documentation must be retained for five years following completion of each program. The Board conducts audits to verify information regarding hours of CPE attendance in order to determine compliance with the continuing education requirements.
Summary of factual data and analytical methodologies:
The rules were developed by obtaining input and feedback from the Accounting Examining Board.
Analysis and supporting documents used to determine effect on small business or in preparation of economic impact analysis:
The rules were posted for a period of 14 days to solicit public comment on economic impact, including how the proposed rules may affect businesses, local government units, and individuals. No comments were received.
Fiscal Estimate and Economic Impact Analysis:
The Fiscal Estimate and Economic Impact Analysis document is attached.
Effect on small business:
These rules do not have an economic impact on small businesses, as defined in s. 227.114 (1), Stats. The Department’s Regulatory Review Coordinator may be contacted by email at Daniel.Hereth@wisconsin.gov, or by calling (608) 267-2435. Agency contact person:
Dale Kleven, Administrative Rules Coordinator, Department of Safety and Professional Services, Division of Policy Development, P.O. Box 8366, Madison, Wisconsin 53708-8366; telephone 608-261-4472; email at DSPSAdminRules@wisconsin.gov. Place where comments are to be submitted and deadline for submission:
Comments may be submitted to Dale Kleven, Administrative Rules Coordinator, Department of Safety and Professional Services, Division of Policy Development, P.O. Box 8366, Madison, WI 53708-8366, or by email to DSPSAdminRules@wisconsin.gov. Comments must be received at or before the public hearing to be held at 9:00 a.m. on June 7, 2019, to be included in the record of rule-making proceedings. ------------------------------------------------------------------------------------------------------------
TEXT OF RULE
Section 1. Accy 2.501 (1) (a) and (2) (a) are amended to read:
Accy 2.501 (1) (a) An application for renewal on a form prescribed by the department that includes the applicant’s representation under penalties of perjury that, during the 2-year period immediately preceding the date of application, the applicant has completed at least 80 continuing professional development credits meeting the requirements under s. Accy 2.602. (2) (a) An application for renewal on a form prescribed by the department that includes the applicant’s representation under penalties of perjury that, during the one-year period immediately preceding the date of application, the applicant has completed at least 120 continuing professional development credits meeting the requirements under s. Accy 2.602. SUBCHAPTER VII
CONTINUING PROFESSIONAL EDUCATION
Accy 2.601 Definitions. In this subchapter:
(1) “Compliance period” means the 2-year period immediately preceding the renewal date under s. 440.08 (2) (a) 1., Stats. (2) “CPE” means continuing professional education.
(3) “Inactive certificate holder” means an individual who holds an unrevoked certificate as a certified public accountant granted under s. 442.04 (1), Stats., and who does not hold a current license to practice as a certified public accountant issued under s. 442.08 (1), Stats. Accy 2.602 CPE requirements for certified public accountants.
(1) Completion of CPE credits. During each compliance period, a licensee shall complete at least 80 CPE credits that contribute to growth in professional knowledge and professional competence. At least 20 CPE credits shall be completed during each 12-month period of each compliance period. The 80 CPE credits shall include not less than 40 CPE credits from formal learning activities meeting the requirements under s. Accy 2.603 (1) and (2). (2) CPE related to ethics. Three of the CPE credits from formal learning activities required under sub. (1) or (5) shall be on the subject of ethics.
(3) Credit for formal and informal learning activities. Fifty minutes of participation in a formal or informal learning activity is equal to one CPE credit. CPE credits may be claimed in increments of one-tenth of a credit, which is equal to 5 minutes of participation in a formal or informal learning activity.
(4) Credit for CPE from another jurisdiction. A licensee holding a current unrevoked CPA license issued by any other United States CPA licensing jurisdiction shall meet the requirements under subs. (1) and (2) if the licensee is in compliance with the continuing professional education or continuing professional development CPA licensing requirements of the jurisdiction in which the other license is held.
(5) Exemption for new licensees and inactive certificate holders.
(a) The requirements under sub. (1) are reduced by one-half for a compliance period during which a CPA is initially licensed during the first year of such compliance period, and do not apply to a compliance period during which a CPA is initially licensed during the second year of such compliance period.
(b) The requirements under sub. (1) do not apply to an inactive certificate holder to whom all of the following apply:
1. The certificate holder does not practice as a certified public accountant within the meaning of s. 442.02 (1m), Stats. 2. The certificate holder does not use the title or designation of “certified public accountant” without the word "inactive."
(6) Certification statement. At the time of each renewal, an applicant shall sign a statement certifying the CPE credit hours required under this section have been completed.
(7) Carryforward of CPE credits. A licensee may carry forward from one compliance period to the next consecutive compliance period a maximum of 40 CPE credits that exceed the minimum number of credits required to satisfy requirements in the earlier compliance period, which credits may represent any combination of formal and informal learning activities and shall retain their character as formal or informal learning activity credits.
(8) Carryback of CPE credits. A licensee may carry back CPE credits earned during the first 12 months of a compliance period to the immediately preceding compliance period to the extent necessary to allow the individual to satisfy the CPE requirements for such preceding period, provided the individual does not count such carry back credits to satisfy CPE requirements for more than one compliance period.
(9) Failure to complete CPE credits. A licensee who fails to complete the requirements under this section may not practice in this state as a certified public accountant until the license is renewed or reinstated under s. Accy 2.501. (10) Limitations on claiming CPE credits.
(a) The number of CPE credits that may be claimed by an instructor, discussion leader, or speaker for preparation and presentation of a CPE learning activity may not exceed 3 times the number of credits awarded to individuals attending or participating in such CPE learning activity. CPE credits may not be claimed for any activity related to subsequent presentations of the same course unless the content has been substantially changed.
(b) CPE credits for participating in a specific learning activity may not be claimed in more than one compliance period.
(c) Successful completion of a one credit semester university or college course shall be equal to 15 CPE credits. Successful completion of a one credit quarter university or college course shall be equal to 10 CPE credits.
(d) CPE credits may not be claimed for time devoted to studying for or taking the CPA examination.
(11) Recordkeeping. A licensee shall retain documentation of each activity for which CPE credits are claimed for at least 5 years from the date on which the activity was completed.
(12) Waiver of CPE credits. The board may waive all or a portion of the CPE credits required under this section if it finds exceptional circumstances such as prolonged illness, disability, or other similar circumstances have prevented a licensee from meeting the requirements.
(13) Board authority. Subject to s. 440.03 (4m), Stats., the board has the authority to determine whether CPE learning activities claimed by a CPA satisfy the requirements under this section. Accy 2.603 Criteria for acceptance of learning activities.
(1) Qualifying learning activities. Acceptable format for formal and informal learning activities include all of the following:
(a) Attending lectures.
(b) Participating in online webinars and webcasts.
(c) Completing self-study courses developed by vendors.
(d) Teaching a course.
(e) Performing independent research.
(f) Listening to podcasts.
(g) Watching videos.
(h) Reading books and articles.
(i) Attending meetings.
(j) Engaging in learning activities similar to those under pars. (a) to (i) that enhance a participant’s professional growth and competence.
(2) Requirements for approval of formal learning activities. The board shall accept a formal learning activity that meets all of the following requirements:
(a) An individual’s participation can be objectively confirmed by a program sponsor.
(b) Materials describing the activity specify all of the following:
1. The subject matter of the activity.
2. Any prerequisites to enrollment.
3. Any required advance preparation.
4. The format of the activity.
5. The number of CPE credits awarded by the program sponsor for participating in the activity.
(c) The program sponsor and any individual presenting or supervising the activity have education and experience qualifications appropriate for the activity to enhance the competency of learning activity participants.
(3) Requirements for approval of informal learning activities. The board shall accept an informal learning activity for which the participant has documented all of the following:
(a) The format of the activity.
(b) The date or dates on which the learning activity was performed and completed.
