Don’t beat around the bush this June 30!
BOA Business
Anne Janotta Erickson, MNCPA membership marketing team leader | April/May 2023 Footnote
Editor's note: Updated March 29, 2023
If April showers bring May flowers, then June CPE brings compliance for me.
Now, there’s an idiom we can get behind!
CPAs, it’s time to jump on the CPE bandwagon and get yourselves ready for June 30, otherwise known as the Minnesota Board of Accountancy’s (BOA) CPE deadline.
Set your sights on CPE compliance.
Active CPAs are required to maintain 120 CPE credits per rolling three-year reporting period. This year’s reporting period is July 1, 2020, through June 30, 2023.
Let’s break this down further. The BOA specifies that these 120 credits need to include:
- 20 CPE credits per CPE year (July 1–June 30).
- 8 ethics credits (regulatory and/or behavioral) per reporting period.
- 60 technical credits per reporting period.
Don’t put all your CPE in one basket.
It’s good to diversify how and what you are learning. To that end, the BOA sets minimums on the types of credits you are required to take to maintain an active CPA certificate.
Make sure you are hitting the following minimums in every three-year reporting period:
- 24 credits from group or blended learning courses.
- 72 credits from approved sponsors.
- 60 technical credits.
Personal development credits are not limited, provided you maintain a minimum of 60 technical credits every reporting period.
Credits earned for teaching or writing are limited to 60 credits per reporting period. You can report more credits to the BOA but only 60 will count toward the 120 credits.
Did you fall short on CPE?
Missed deadlines happen. If June 30 has come and gone and you discover you are short on CPE credits, you’ll want to visit the BOA online for next steps.
Throwing caution to the wind and ignoring a CPE shortfall is a bad idea. Remember: Noncompliance fees accrue every month you are out of compliance.
Don’t be a stranger!
The Minnesota BOA regulates CPA certification. They can be reached at 651-296-7938 or
www.boa.state.mn.us.
The MNCPA is always here to help! Contact us with your certification questions at 952-831-2707 or
customerservice@mncpa.org.
MNCPA CPE Log
The best thing since sliced bread!
www.mncpa.org/cpelog
The members-only CPE Log is designed to help prepare for the BOA’s June 30 deadline. This tool tracks your credits and alerts you to potential noncompliance issues.
And when you’re ready to report your credits to the BOA by Dec. 31, the CPE Log is ready too! Reference the BOA summary for a mirror-image view of your credit totals.
Find exactly the CPE you need
You need to comply with CPE rules, but you also want education that evolves your skills and expertise. Do both with MNCPA CPE.
Whether you’re looking for 4 ethics credits, 8 technical credits or an event on June 30 (no judgment, procrastinators), you’ll find Minnesota BOA-approved options in the online CPE catalog.
Visit
www.mncpa.org/catalog to find your CPE today.
