Preparing for CPE compliance
BOA Business
Julia Shiota, MNCPA communications coordinator | April/May 2024 Footnote
Editor's note: Updated April 1, 2024
Springtime brings warmer weather, the sounds of birds, the hint of green in the trees — and the need to start double-checking your CPE compliance!
While June 30 — the Minnesota Board of Accountancy’s (BOA) CPE deadline — might feel far away, it’s important to make sure you’re not scrambling for credits at the last minute.
How do you stack up with CPE?
Active CPAs must maintain 120 CPE credits per rolling three-year reporting period. This year, that’s July 1, 2021, through June 30, 2024. Let’s take a closer look at those 120 credits.
The BOA specifies 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.
But wait, there’s more! The BOA also sets minimums on what types of credits you must take to maintain your active CPA license, so pay attention to the type of CPE you are signing up for.
These minimums for each three-year reporting period include:
- 24 credits from group or blended learning courses.
- 72 credits from approved sponsors.
- 60 technical credits.
While active CPAs must earn 60 technical credits per reporting period, nontechnical credits (including personal development) are not limited as long as you meet the technical credit requirement.
Missing some credits?
Mistakes and missed deadlines happen! While there’s no need to panic if you realize you fell short on CPE credits, it’s important to act right away. For every month you are short on CPE, there is a fine! Make sure to visit the BOA’s website for next steps on noncompliance issues.
The Minnesota BOA regulates CPA certification and is your contact for all your specific questions. They can be reached at 651-296-7938 or
www.boa.state.mn.us. However, the MNCPA is always here to help, too! Contact us with your certification questions at 952-831-2707 or
membership@mncpa.org.
