Mississippi CPE Requirements for CPAs
Continuing professional education is a requirement for members of the American Institute of Certified Public Accountants (AICPA) as a part of the license recertification process, primarily because it helps CPAs learn new skills essential to the industry while sharpening existing abilities. The difficulty with CPE for CPAs, however, is that not all are required to meet the same standards and stipulations, since each state is governed by a Board of Accountancy that sets the rules. So, it is important for all CPAs to become knowledgeable regarding their state requirements in order to avoid confusion during the license renewal process.
CPAs who reside in Mississippi are required to renew their license every year, and they must complete 40 hours of continuing professional education per recertification period. The table below details the primary limitations and requirements for continuing professional education in Mississippi.
|License Renewal Date||CPE Reporting Period||Total CPE Hours||Self-Study Credit Limitations|
|January 1 annually||July 1 – June 30 annually||40 hours||None|
Subject Area Requirements
During each recertification period, 4 of the required 40 hours must be in Ethics, Professional Conduct and Public Accountancy Law and Regulations, with at least 1 ethics CPE hour of the 4 exclusively in Mississippi Public Accountancy Law and Regulations. There are no further subject area requirements.
Credit Limitations and Calculation
In Mississippi, CPAs can obtain CPE through formal instruction of education material. Credit is equal to preparation time and is limited to 2 times the actual class presentation time. No repetitious presentations of the same material will be granted credit.
Up to 15 CPE hours per semester can be obtained for successful completion of a college or university course, and for a quarter hour course, up to 10 CPE hours can be claimed. Non-credit university courses are worth 1 CPE hour for each hour of class attendance and participation.
As per Board policy, 50 minutes of continuous participation in a program will constitute 1 CPE credit hour. The shortest recognized program must consist of at least 10 minutes of continuous participation in order to receive credit.
CPE credit can be claimed for authoring and subsequently publishing instructional or educational material. Authorship is based on submission of the published document and a request for the number of credits to the Board.
Independent study is not a Board-recognized method of continuing professional education in Mississippi. Self-study credit is allowed, but courses must be approved by the NASBA QAS program. Personal development courses are also recognized, although no more than 20 hours may be claimed in any compliance year.
Other Policies and Exemptions
If more than 40 CPE credit hours are accumulated in a one-year compliance period, the excess hours up to a maximum of 20 CPE credit hours may be carried over and applied to the CPE requirement for the immediately following one-year compliance period. No personal development hours earned in excess of 20 in a compliance year may be carried forward to future years.
The Board may exempt a non-resident licensee from continuing professional education requirements if the licensee’s primary employment is not in Mississippi but is in a state where CPE requirements are substantially equivalent to Mississippi’s requirements as determined by the Board, and the individual is a licensee in that state of primary employment and reports those CPE credit hours as required, with a sworn statement to the Board that the CPE requirements for that jurisdiction have been met. Furthermore, the licensee must comply with the Mississippi ethics CPE requirement unless their state of primary employment has an ethics CPE requirement and they comply with that requirement.
CPAs who offer no services to third parties are automatically exempt from the continuing professional education requirements for license renewal if they are part of the following categories:
- Retired individuals
- Individuals who are currently unemployed
- Individuals who have willfully and temporarily left the workforce
- Individuals who are formally listed as “inactive”
It is possible for active CPAs to request waivers for exemption for the following reasons:
- Issues with health
- Military service (active duty)
- Natural disasters (as approved by the Board)
- Similar circumstances which warrant exemption (approved by the Board)
Additional CPE Resources for CPAs
Article written by Braden Norwood