The license once obtained through any state board of accountancy has to be renewed periodically and in order to renew a CPA License, you must meet certain criteria that is set by the State Board of Accountancy (SBA) which issued your license. One of the important criteria in this is obtaining a certain pre-set CPE credits by state boards of accountancy .
AICPA CPE requirements:
The American Institute of CPAs (AICPA) is the world’s largest member association representing the accounting profession, with more than 400,000 members in 145 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.
To continue your membership with the AICPA, you need to report at least 20 CPE credits each year and a 120 CPE credits by the end of the 3 year period.
When does the reporting period start and end?
Documentation of CPE is not required but should be maintained. Member is responsible for retaining any documentation that may be required.
Begins calendar year after joining the AICPA.
Two months immediately following the reporting period. Hours credited toward a deficiency may not be counted toward the reporting period in which they are taken.
Programs which contribute to the member's professional competence and are formal programs. No specific subject areas are required. Examples of qualifying programs are in-house training courses, trade association conferences or college and university classes.
Use one of the following guidelines to determine equivalent CPE hours.
College or university:
Number of semester hours x 15 = CPE hours
Number of quarter hours x 10 = CPE hours
Programs from associations granting CEUs (continuing education units):
Number of CEUs x 10 = CPE hours
Basic Requirements PRIOR to January 1, 2001
For programs which do not state the number of hours use:
Actual number of minutes spent in program/50 = CPE hours (round down to the nearest whole hour)
Members report compliance by paying of dues. The yearly dues statement contains the following statement:
In making my dues payment, I affirm that I have complied with the CPE membership requirements for the year ending December 31. No other reporting is necessary.
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