Minnesota CPE Requirements for CPAs
Continuing professional education is the bedrock upon which members of the American Institute of Certified Public Accountants (AICPA) ensure their knowledge and skills remain up-to-date, making their services top-notch. However, as most CPAs are well-aware, the actual requirements for obtaining CPE differ from one location to another, since state Boards of Accountancy are responsible for determining and regulating the stipulations and limitations for individual state or territory jurisdictions. Because of this, it can be easy to confuse requirements for one location with those of another, so CPAs need to be well-aware of the regulations imposed on their location to avoid confusion and eventual frustration during the license recertification cycle.
Minnesota licensees are required to renew their license every three years, and must complete 20 hours of professional continuing education per year and 120 hours each recertification period. The table below exhibits the primary requirements as set by the Board of Accountancy in Minnesota.
|License Renewal Date||CPE Reporting Period||Total CPE Hours||Self-Study Credit Limitations|
|December 31 annually||July 1 – June 30 triennially-rolling||120 hours||None|
Subject Area Requirements
As a part of each recertification cycle, 8 of the required 120 hours must be in regulatory (technical) or behavioral (non-technical) ethics.
For technical subjects, a minimum of 60 hours must be obtained from technical-learning activities as defined in the NASBA Fields of Study, July 2016 Revision.
At least 24 hours per recertification cycle must be obtained from attending group or blended learning programs. Providers of blended learning programs must be recognized by the NASBA National Registry of CPE Sponsors.
Credit Limitations and Calculation
Up to 60 hours of CPE credit can be obtained each license renewal period for instruction or presentation of formal educational or instructional material.
Credit can also be obtained for authoring and subsequently publishing instructional or educational material (articles, curriculum and books) up to 60 hours.
Providers of Nano-Learning programs must be recognized by the NASBA National Registry of CPE Sponsors.
There are no provided limits for self-study credit.
Other Policies and Exemptions
A minimum of 72 hours per recertification period must be from approved providers, here defined as:
- Providers that are on the NASBA Registry of CPE Sponsors.
- The Office of the Legislative Auditor or State Auditor, if a peer review has been completed within the last three years and an unmodified report on such a review has been filed with the Board. This peer review must be similar in scope to a system review level peer review conducted on a CPA firm.
- CPA firms who have had a system review level peer review completed within the last three years, and an unmodified report on such a review has been filed with the Board.
- Colleges and universities where academic programs qualify an applicant to sit for the CPA examination.
- Professional organizations which are recognized by the Board as Report Acceptance Bodies.
- CPE programs sponsored by professional organizations which are recognized by another state’s Board of Accountancy.
A non-resident licensee with an active status in Minnesota meets Minnesota’s requirements by meeting the requirements in which the licensee’s principal office is located. If the principal office state has no CPE requirement, Minnesota’s requirements apply. This exemption from CPE reporting must be requested by December 31 of the year a license is set for renewal.
CPAs who do not offer services to third parties are exempt from license recertification and continuing professional education requirements, so long as they are in one of the following four categories:
- Retired individuals
- Currently unemployed individuals
- Individuals who have temporarily and willingly left the workforce for an unspecified period of time
- Individuals who are formally listed as inactive members of the AICPA
Exemption waivers can be requested by active members of the AICPA for the following reasons:
- Health issues or complications
- Military service (generally active duty)
- Extreme natural disasters which prevent members from being able to complete CPE requirements
- Other similar circumstances which prevent a member from completing their CPE requirements
Additional CPE Resources for CPAs
Article written by Braden Norwood