section .0400 - CPE REQUIREMENTS

 

21 NCAC 08G .0401          CPE REQUIREMENTS FOR CPAS

(a)  In order for a CPA to receive CPE credit for a course:

(1)           the CPA must attend or complete the course

and receive a certificate of completion as set forth in Rule .0403(c)(13) of

this Section;

(2)           the course must meet the requirements set

out in Rule .0404(a) and (c) of this Section; and

(3)           the course must increase the professional

competency of the CPA.

(b)  A course that increases the professional competency of

a CPA is a course in an area of accounting in which the CPA practices or is

planning to practice in the future, or in the area of professional ethics, or

an area of the profession.

(c)  Because of differences in the education and experience

of CPAs, a course may contribute to the professional competence of one CPA but

not another. Each CPA must therefore exercise judgment in selecting courses for

which CPE credit is claimed and choose only those that contribute to that CPA's

professional competence.

(d)  Active CPAs must complete 40 CPE hours, computed in

accordance with Rule .0409 of this Section by December 31 of each year, except

as follows:

(1)           CPAs having certificate applications

approved by the Board in April-June must complete 30 CPE hours during the same

calendar year;

(2)           CPAs having certificate applications

approved by the Board in July-September must complete 20 CPE hours during the

same calendar year; or

(3)           CPAs having certificate applications

approved by the Board in October-December must complete 10 CPE hours during the

same calendar year.

(e)   There are no CPE requirements for inactive CPAs.

(f)  Any CPE hours completed during the calendar year in

which the certificate is approved may be used for that year's requirement even

if the hours were completed before the certificate was granted. When a CPA has

completed more than the required number of hours of CPE in any one calendar

year, the extra hours, not in excess of 20 hours, may be carried forward and

treated as hours earned in the following year.  Ethics CPE hours may not be

included in any carry forward hours.  A CPA may not claim CPE credit for

courses taken in any year prior to the year of certification.

(g)  Any CPE hours used to satisfy the requirements for

change of status as set forth in 21 NCAC 08J .0105, for reissuance as set forth

in 21 NCAC 08J .0106, or for application for a new certificate as set forth in

21 NCAC 08I .0104 may be used to satisfy the annual CPE requirement set forth

in Paragraph (d) of this Rule.

(h)  It is the CPA's responsibility to maintain records

substantiating the CPE credits claimed for the current year and for each of the

four calendar years prior to the current year.

(i)  A non-resident licensee may satisfy the annual CPE

requirements including 21 NCAC 08G .0401 in the jurisdiction in which he or she

is licensed and currently works or resides. If there is no annual CPE

requirement in the jurisdiction in which he or she is licensed and currently

works or resides, he or she must comply with Paragraph (d) of this Rule.

 

History Note:        Authority G.S. 93-12(3); 93‑12(8b);



Eff. May 1, 1981;

Amended Eff. January 1, 2014; January 1, 2007; January 1,

2004; August 1, 1995; April 1, 1994; May 1, 1989; September 1, 1988.