MNCPA PERSPECTIVES

Is your CPE reporting compliant with new BOA rules?

May 24, 2018  |  Stephanie Schmidt

We all have things that are precious to us that we do our best to preserve and protect. Things like family, good friends and incredible memories. And others like an heirloom passed down from your grandmother or the ball you caught at the Twins opener. For MNCPA members, one of those things is their CPA certificate.

That’s why it’s so important for you to understand the CPE requirements for an active CPA in Minnesota.

We’ve been telling you about changes to the BOA CPE rules that went into effect on January 9. In case you’ve been buried in tax law changes or you simply forgot, here’s a quick recap.

CPE rule changes

Technical CPE requirement
You’re now required to earn a minimum of 60 CPE credits from technical fields of study as part of the overall 120 CPE credits per three-year reporting period. Here’s a rundown of the technical and non-technical fields of study.

Personal development limitation lifted
Previous CPE rules limited you to 24 personal development credits within a three-year reporting period. That's no longer true. Personal development credits are now non-technical and not limited provided you meet the 60 technical credits requirement.

Expanded CPE options
Acceptable CPE delivery formats now include nano-learning and blended learning programs taken on or after Jan. 9, 2018. However, program sponsors must be on the NASBA Registry and approved for these specific formats.

CPE reporting

What we didn’t know until recently is how the BOA was going to handle reporting. Here’s the skinny.

Fiscal years 2016 and 2017
The BOA has converted all credits previously reported for fiscal years 2016 and 2017 to fit into the new CPE reporting form. Personal development credits were reclassified as non-technical credits, while all other credits were reclassified as technical credits, regardless of field of study.

Fiscal year 2018 (the current CPE year)
All CPE credits earned between July 1, 2017, and June 30, 2018, must comply with the BOA's new CPE rules. If you are unsure whether a course’s credits should be classified as technical or non-technical, you can reference the NASBA fields of study (PDF) for definitions and examples.

MNCPA members who have a CPE Log

Using the MNCPA CPE log is a great way to track your credits. However, if you manually entered credits into your CPE log between July 1, 2017, and April 16, 2018, you need to review your CPE Log entries and reallocate your credits as technical and non-technical as appropriate.

The MNCPA converted your manually entered CPE Log credits according to BOA guidance.

  • CPE fiscal years through 2017 (ending June 30, 2017): The MNCPA converted personal development credits to non-technical and all other credits to technical.
  • CPE fiscal year 2018 (July 1, 2017, through April 16, 2018): The MNCPA converted all credits to non-technical to prevent the potential for overstating technical credits.
  • CPE fiscal year 2018 (April 17, 2018, through June 30, 2018): The new CPE Log changes were in place during this time, so no credits needed to be converted.

I realize this can be a bit confusing, and that’s why we’re here to help. If you have any questions or concerns, please contact MNCPA customer service at 952-831-2707 or CustomerService@mncpa.org.

At times, this may seem like a hassle or tedious to track. But, like anything else we hold precious, it’s worth it.


Topics: Professional certification, Regulation

Stephanie Schmidt

Stephanie Schmidt is the MNCPA’s director of membership and marketing. For more than 10 years, she has expertly managed numerous member programs and events. Her skillset comes in handy when also planning sleepovers and birthday parties for her family. Stephanie has also earned the MNCPA’s unofficial title of office fashionista. Step into her office and you’ll see her knack for fashion, design and décor. She’s also a hugger, which you’ll appreciate if you’re ever trapped in a scary escape room with her. Stephanie can be reached at 952-885-5523 or sschmidt@mncpa.org.

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