Three-Year Certificate Renewal Cycle

2008 session update

Currently Minnesota CPAs renew their certificates annually. The MNCPA supported legislation that will change the renewal process to a three-year cycle beginning with the 2010 renewals. This change will hopefully reduce the end-of-year administrative delays that occur at the Board of Accountancy (BOA). It should also reduce the possibility of a CPA practicing without a current certificate because of delayed processing at the BOA.

Why should you care?

The BOA receives most of the requests for renewal in the last few weeks of the year. Due to the volume received, renewals may not be processed until after December 31. If a CPA's application is not complete and processed by the BOA by December 31, the CPA will be practicing without a valid certificate.

Changing to a three-year cycle reduces the administrative workload of the BOA by 66% each year of the cycle. It also makes the renewal process more efficient and user friendly. In addition to this change, the law was changed to provide a provisional 90-day license if a renewal is delayed because of action or lack or action by the BOA.

If you are a CPA who generally waits until the end of the year to renew, changing to a three-year renewal cycle should reduce delays and the possibility of practicing without an active certificate.

MNCPA position

The MNCPA supports this change to the renewal process because it will reduce, if not eliminate, the possibility of CPAs practicing without an active certificate and increase the renewal process efficiency.