As of October 24, 2023, Michigan’s administrative code requires the Uniform CPA Exam to completed within a rolling 30-month period beginning on the date that the score is released for the first section passed. [MI Admin. Code § R 338.5110a].
Minnesota:
At the end of December of 2023, a bill was introduced to change the Minnesota administrative code requirement for all sections of the Uniform CPA Examination to be completed within a rolling 18-month period beginning upon completion of the first section of the examination to a rolling 30-month period, that begins on the date that the AICPA releases the score for the first section or sections passed. The bill was adopted on July 29, 2024, and it has become effective as of August 5, 2024. [MN Admin. Code § 1105.2000].
Summary of factual data and analytical methodologies:
The department, in collaboration with the board, reviewed ch. Accy 2 to bring it up to national standards and determined that a change of the rolling period for applicants to complete all sections of the Uniform CPA Examination was necessary as other states have already extended their period to 30 months. Analysis and supporting documents used to determine effect on small business or in preparation of economic impact analysis:
The board will solicit economic impact comments from small businesses, local governmental units, and individuals for a period of 14 days.
Fiscal Estimate and Economic Impact Analysis:
The Fiscal Estimate and Economic Impact Analysis will be attached upon completion.
Effect on Small Business:
The board will solicit economic impact comments for a period of 14 days in order to determine whether the rules have an impact on small business. An impact is not anticipated.
Agency contact person:
Sofia Anderson, Administrative Rules Coordinator, Department of Safety and Professional Services, Division of Policy Development, 4822 Madison Yards Way, P.O. Box 8366, Madison, Wisconsin 53708; email at DSPSAdminRules@wisconsin.gov. Place where comments are to be submitted and deadline for submission:
Comments may be submitted to Sofia Anderson, Administrative Rules Coordinator, Department of Safety and Professional Services, Division of Policy Development, 4822 Madison Yards Way, P.O. Box 8366, Madison, WI 53708-8366, or by email to DSPSAdminRules@wisconsin.gov. Comments must be received on or before the public hearing to be held on November 20, 2024 at 9:00 AM to be included in the record of rule-making proceedings. ------------------------------------------------------------------------------------------------------------
TEXT OF RULE
Section 1. Accy 2.304 (2), (3), (4), and (5) are amended to read:
(2) A candidate shall retain credit for any section passed for 18 30 months. A candidate may retake a section once the grade for the previous attempt of the same section has been released.
(3) A candidate must pass all sections of the uniform certified public accountant examination within a rolling 18-month 30-month period that begins on the date of notification that the first section is passed.
(4) If any section of the uniform certified public accountant examination is not passed within the rolling 18-month 30-month period, credit for any section passed outside the 18-month 30-month period shall expire and that section shall be retaken.
(5) The board may on a case-by-case basis extend the 18-month 30-month period of credit for sections of the Uniform CPA Examination passed, or the duration of the 18-month 30-month rolling period, upon the applicant showing to the board's satisfaction that the inability to pass all sections of the examination within the 18-month 30-month period was due to one of the following:
Section 2. EFFECTIVE DATE. The rules adopted in this order shall take effect on the first day of the month following publication in the Wisconsin Administrative Register, pursuant to s. 227.22 (2) (intro.), Stats. ------------------------------------------------------------------------------------------------------------
(END OF TEXT OF RULE)
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