Nevada CPE Requirements for CPAs
Continuing professional education is the means by which the American Institute of Certified Public Accountants (AICPA) endorses its members for continued licensure, since CPE helps to strengthen a CPA’s existing skill set while affording them new knowledge and abilities. However, continuing professional education doesn’t come without drawbacks, the largest of which very well might be confusion. Since members of the AICPA are governed by state Boards of Accountancy specific to their place of residence, each state has its own regulations and requirements for obtaining CPE credit, and if CPAs aren’t careful to understand their specific state requirements, the license renewal process can become frustrating.
Nevada-based licensees are required to renew their license every two years and must complete 20 hours of continuing professional education per year and 80 hours each recertification period. The below table showcases the primary recertification limitations and deadlines for certified public accountants in Nevada.
|License Renewal Date||CPE Reporting Period||Total CPE Hours||Self-Study Credit Limitations|
|December 31 annually||January 1 – December 31 over a two-year rolling period||80 hours||None|
Subject Area Requirements
At least 4 of the required 120 hours must be taken in subject areas dealing with Professional Ethics during each two-year recertification cycle. CPAs must also complete 8 hours in Accounting and Auditing during the year in which they planned, directed or performed a substantial portion of work or reported on an audit, review, full disclosure compilation or attestation service of a non-governmental agency.
Credit Limitations and Calculation
Instruction or presentations given in a formal, educational setting can be counted toward the CPE requirement for license renewal, where the credit for preparation is limited to two times presentation. Repeat instruction within a year is only accepted if the material has been substantially altered or changed and must be approved by the Board.
Active enrollment in a college or university course earns CPE credit hours equal to 15 CPE hours per semester hour or 10 CPE hours per quarter hour. Non-credit courses can obtain CPE at a rate of 1 CPE hour per qualifying classroom hour.
The Board will allow instances of technical review for CPE credit, which can be claimed with the understanding that it is time spent reviewing CPE program materials.
Nevada has no limitations on self-study CPE opportunities.
Credit for continuing education may be earned in increments less than 1 credit at a time for partial credit.
Other Policies and Exemptions
If an applicant for the renewal of a permit to engage in the practice of public accounting is permitted, certified or licensed to engage in the practice of public accounting in another state and resides in that state, the applicant must demonstrate compliance with the continuing education requirements of that state. If the state in which the applicant resides does not have continuing education requirements, the applicant must comply with the requirements of Nevada.
Licensed CPAs who are not actively providing their services to third parties are automatically considered exempt if they are:
- Currently unemployed
- Temporarily removed from the workforce
- Formally “inactive” with AICPA
Waivers for active members whose services are actively employed can be requested because of:
- Health problems
- Active-duty military service
- Extreme natural disasters
- Other similar, Board-approved circumstances
Additional CPE Resources for CPAs
Article written by Braden Norwood