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Professional
Standards
Members serve the public with honesty, integrity and
objectivity while adhering to the professional standards and ethics.
- Minnesota Board of Accountancy Rules
» Details about the
CPE requirements of the Minnesota Board of Accountancy.
» Firm Independence information (clarification of Administrative Rule 1105.7800, item G)
» Certificate
renewal: your yearly responsibility - Active or inactive, your
CPA certificate must be renewed with the Minnesota Board of
Accountancy each year by December 31.
- Peer review
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The MNCPA requires members who practice in public accounting to
enroll their firm in a peer review program. Firms that perform
accounting and auditing engagements must have a peer review every
three years. The Minnesota Board of Accountancy also requires (under
Statute 325A.05) a peer review every three years for firms that
perform accounting and auditing engagements in order for the firm to
maintain a firm permit. The MNCPA administers the peer review
program under the AICPA's Standards for Performing and Reporting
on Peer Reviews, which is the only Minnesota peer review program
recognized and approved by the AICPA. This section answers questions and helps firms with the
peer review process.
- Professional ethics - Professional Ethics investigates complaints against members of the MNCPA and determines if the member has violated a code of professional conduct. Included is information about the process, how to file a complaint, and the code of professional conduct.
- Financial report review - The City and School District Audit Task Force review randomly selected audits from the Office of the State Auditor and send their constructive comments to the firm. The General Industries Task Force reviews financial statements solicited from member firms and sends constructive comments back to the firm.
- Exposure drafts - Exposure drafts from the AICPA, FASB, GASB, IASB, and SEC are available to view and make comments.
- Resources - Link directly to the AICPA, FASB, GASB,
IASB, SEC and PCAOB. Information on the AICPA hotline for state licensing
information.
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