General Guam CPA CPE Requirements and Rules
Ongoing licensure with the AICPA comes with a fairly hefty CPE requirement. The nuances of which might be easy to get lost in. But making matters worse, each state or territory is regulated by a Board of Accountancy. So, the stipulations vary by location. And if members aren’t careful to understand their jurisdiction’s requirements, the renewal process can become somewhat frustrating. Consequently, the Guam CPA CPE requirements vary from those in other locations. Thus, it is important for CPAs to gather accurate knowledge on their state’s specific rules for recertification.
Licensees from Guam have to renew their license every two years. And furthermore, they must complete a minimum of 20 CPE hours per year and 120 hours over a three-year period. The table below offers further details about the primary recertification limitations and deadlines for Guam.
|License Renewal Date||CPE Reporting Period||Total CPE Hours||Self-Study Credit Limitations|
|June 30 annually||January 1 – December 31 over a three-year rolling period||120 hours||None|
Subject Area Requirements
Every recertification period, 6 of the required 120 hours completed must come from Professional Ethics. And a further 30 hours must be in Accounting and Auditing.
Credit Limitations and Calculation
According to the rules set by the Guam Board of Accountancy, CPAs who provide formal instruction can obtain CPE credits. Here, credit equals presentation time plus preparation. However, preparation must not exceed twice the length of the presentation. And furthermore, repeat instruction only counts if material is substantially changed beforehand.
If a CPA is actively taking university courses, they may also obtain CPE credit for successful completion of the class. Credit calculates at a rate of 15 CPE hours per semester hour or 10 CPE credits per quarter hour. But for non-credit university courses, credit accrues as one qualifying hour per classroom hour.
Group and blended learning programs must last at least one hour. But credit may be earned in one-fifth or one-half hour increments after the first full hour is earned. Furthermore, Self-study programs must be a minimum of one-half credit initially. However, they can accrue in one-fifth or one-half hour increments after the first full hour. Nano-Learning is always earned in one-fifth credit hour increments.
Personal development cap at 30 CPE hours per recertification period.
Other Policies and Exemptions
A non-resident licensee seeking renewal in Guam can also satisfy the requirements by completing those of their principal office state. If that state has no CPE requirements, the non-resident licensee must comply with all CPE requirements for recertification in Guam.
Applicants who fail to meet the requirements by December 31 will acquire an automatic extension until June. However, they must complete an additional 16 CPE hours (136 hours total) in accounting and auditing subjects.
CPAs in the following categories will gain automatic exemption from CPE requirements. However, they cannot offer their services to any third parties to qualify.
- Retired members
- Currently unemployed members
- Members who have temporarily chosen to leave the workforce (no matter plans to return in the future)
- Formally listed, “inactive” members
Waivers for CPE exemption can be requested by CPAs for the following reasons. But they are further subject to Board review and approval:
- Complications with health
- Military service
- Natural disasters that could interfere with continuing professional education
- Other circumstances which have potential to interfere with continuing professional education
Additional Resources for Guam CPA CPE Requirements
Article written by Braden Norwood
Last updated March 13, 2023