CPE Requirements for CPAs in New York
Continuing education is a vital component for maintaining a professional license or designation, because it certifies an individual is up-to-date with changes in their industry as well as demonstrating their professional competence and ability to provide quality service. Members of the American Institute of Certified Public Accountants (AICPA) who are located in New York are required to renew their license every three years, and must complete 40 hours per year, for a total of 120 hours per recertification period.
Ultimately, the New York Board of Accountancy is responsible for determining the requirements of CPAs within their jurisdiction, including which forms of continuing education are acceptable as means of meeting the license renewal requirements. Because the qualifications vary from state to state, it is important for New York licensees to recognize and understand the stipulations for their location. If not properly understood, the variance in requirements between states can cause confusion and frustration during the license renewal process. The table below highlights the primary recertification limitations and deadlines for New York.
New York CPA CPE Requirements and Recertification Deadlines
|License Renewal Date||CPE Reporting Period||Total CPE Hours||Self-Study Credit Limitations|
|Triennial based on date of issuance||January 1 – December 31 (annually)||40 Hours||None|
Subject Area Requirements
For each three-year recertification period, 4 of the required 120 hours must be in Professional Ethics. These hours may be counted toward the necessary 40 annual contact hours requirement for the calendar year in which they are earned. Furthermore, Regulatory Ethics taken to maintain an active license (as accepted by the New York Board) can be used to meet the ethics requirement of New York.
Any licensee who supervises attest or compilation services, or who signs/authorizes someone to sign the accountant’s report on financial statements on behalf of a firm, shall be required to complete at least 40 hours of continuing education in auditing, accounting, and/or attest during the three years immediately preceding the performance of those services. These contact hours may be counted toward the annual requirement for the calendar year in which they are completed.
Credit Limitations and Calculation
In the state of New York, CPAs who provide formal instruction or presentations can obtain up to 50% of their total required credit hours through this medium. No repitition of courses will be allowed for credit unless there is significant revision or addition of new materials to the curriculum. Instructors of formal courses can claim one hour of CPE credit for each hour (50 minutes) of presentation, plus preparation time of up to two hours time for each one hour taught.
CPAs who provide formal education through an accredited college or university can also claim recertification credit for instruction. The content area of the course is required to be within the Board-approved subject areas. However, no credit will be afforded for teaching any accounting course required for initial licensure as a CPA. CPE credit for teaching a college or university course is limited to 15 CPE hours per credit hour of the course (i.e., teaching a 3-credit-hour course would result in 45 CPE credits).
CPAs who are actively enrolled in college or university courses can claim CPE credit hours equal to 15 CPE hours per semester hour or 10 CPE hours per quarter hour.
Contact hours can be obtained in one-half hour increments (25 minutes), so long as the first full hour in any approved program has already been earned for the license renewal period.
CPAs in any of the following categories will automatically be excepted from AICPA license renewal requirements:
- Retirees who do not offer services to any third parties
- Members who are currently unemployed and do not offer services to any third parties
- Members who have temporarily left the workforce and do not offer services to any third parties
- Members who have formally listed their status as “inactive” and do not offer services to any third parties
Furthermore, waivers can be requested by CPAs for the following bases:
- Health complications
- Active-duty military service
- Extreme natural disasters (in accordance with New York Board policies)
- Other similar circumstances which might prevent a member from completing their CPE requirements
Additional CPE Resources for CPAs
Article written by Braden Norwood