3 CCR 705-1.10 - CONTINUING PROFESSIONAL EDUCATION (CPE)
This Rule is promulgated pursuant to sections 12-20-204, 12-100-105(1)(b), and 12-100-115, C.R.S.
A.
GENERAL INFORMATION
1. As indicated in Rule 1.9, a certificate
holder must complete ten hours of CPE for every full quarter during which his
certificate is in active status. (See also Rule 1.9 for specific CPE
requirements including Ethics.) Changing the certificate status to retired,
inactive, or expired does not eliminate the obligation to complete CPE that was
accrued but not completed as of the date of such change. Failure to complete
required CPE is cause for discipline up to and including revocation.
2. Active certificate holders must
participate in learning activities that maintain and/or improve their
professional competence as a CPA and assure reasonable currency of knowledge. A
certificate holder's field of employment does not limit the need for
CPE.
3. Certificate holders
performing professional services need to have a broad range of knowledge,
skills, and abilities. Accordingly, acceptable CPE encompasses programs that
contribute to the development and maintenance of both technical and
non-technical professional skills.
4. Learning activities that do not maintain
and/or improve professional competence as a CPA will not be accepted for credit
towards CPE. Learning activities that do not maintain and/or improve
professional competence as a CPA include, but are not limited to, activities
that teach fundamental accounting skills such as, or comparable to, first and
second semester principles of accounting or their equivalent.
5. It is the responsibility of certificate
holders to be aware of and comply with all CPE requirements under these
Rules.
6. The Board will not grant
credit for CPE that does not meet the requirements of this Rule 1.10.
B.
CPE STANDARDS
1. Certificate holders, program sponsors, and
program developers must comply with the joint standards as defined in Rule 1.4
and incorporated herein by reference. If a Rule of the State Board of
Accountancy is inconsistent or otherwise differs from the materials
incorporated by reference herein, the Rule of the State Board of Accountancy
governs. It is ultimately the responsibility of certificate holders to ensure
that any CPE completed complies with the joint standards and these
Rules.
2. For internet based CPE
programs, a minimum of seventy-five percent of the polling questions, if used
as a monitoring mechanism, must be answered by the CPA in order to receive
credit for the CPE activity.
3.
Program sponsors will be deemed in compliance with Joint Standard 14 of the
joint standards regarding CPE credit for self-study learning activities if the
program developer or vendor pilot tests the representative completion time, or
computes the recommended CPE credit using the prescribed word count formula, or
attests to the appropriateness of the recommended CPE credit for the self-study
learning activity.
C.
SUBJECT MATTER
1. The following
are acceptable subjects for CPE courses as defined in the Fields of Study:
a. Accounting
b. Accounting (Governmental)
c. Auditing
d. Auditing (Governmental)
e. Behavioral Ethics*
f. Business Law
g. Business Management and Organization
h. Communications and Marketing
i. Computer Software and
Applications
j. Economics
k. Finance
l. Information Technology
m. Management Services
n. Personal Development
o. Personnel/HR
p.Production
q. Regulatory Ethics
r. Specialized Knowledge
s. Statistics
t. Taxes
2. CPE in Behavioral Ethics or Regulatory
Ethics as listed in this Rule 1.10 shall not satisfy any requirements that the
licensee or applicant complete and pass the AICPA Ethics Course and
Examination. Additionally, for the purpose of CPE, Behavioral Ethics is not
considered to be Personal Development.
3. The two hours of CR&R allowed or
required as CPE under these Rules count as Regulatory Ethics as listed in this
Rule 1.10 . Satisfactory CR&R course presentations need not be limited to
two hours but may comprise and grant credit for as many hours as necessary to
satisfy the requirements of Rule 1.10 . However, CR&R course credit hours
granted in excess of two hours will not be considered CR&R or Ethics CPE,
but the excess hours will count as Specialized Knowledge as listed in this Rule
1.10(C).
D.
CPE
CREDIT AND RECORDS DOCUMENTATION AND RETENTION
The Board may grant CPE credit to a certificate holder for participation in the activities listed in this Rule 1.10 . The certificate holder is responsible for accurate reporting and documentation of all CPE hours completed. Certificate holders must retain documentation for a minimum of five years from the end of the year in which the CPE was completed. The documentation must be submitted to the Board upon request.
1. CPE Programs
Documentation for CPE Programs must include a Certificate of Completion, Certificate of Attendance, or Firm Transcript that includes:
a. Name and contact information of CPE
program sponsor;
b. Participant's
name;
c. Title of
program;
d. Fields of Study, as
described in Rule 1.10 (C);
e.
Date(s) the program was offered or completed;
f. Location of program, if
applicable;
g. Type of
instruction/delivery method;
h.
Number of CPE credits completed; and
i. Verification by the CPE program sponsor
(verification may be in the form of a signature, seal, or other similar
indicia).
2. Teaching
a. For purposes of this Rule 1.10, "teaching"
for CPE credit means providing instruction. To qualify for CPE, the instruction
must enhance the teaching certificate holder's professional competence, as
provided in Rule 1.10(A).
b. The
instruction must be provided either for the first time or be substantially
revised from the previous time(s) it was taught by the certificate holder.
"Substantially revised" means the majority of the presentation and/or course
content has been significantly modified. Such significant modifications may be
required due to legislative changes, changes in principle, rules, practices, or
standards, for example. Simple updates to a textbook or edition change do not
constitute a significant modification.
c. Instructors, discussion leaders, or
speakers who present a learning activity for the first time may receive CPE
credit for actual preparation time up to two times the number of CPE credits to
which participants would be entitled, in addition to the time for presentation,
subject to regulations and maximums established by the state boards. For
example, for learning activities in which participants could receive 8 CPE
credits, instructors may receive up to 24 CPE credits (16 for preparation plus
8 for presentation). For repeat presentations, CPE credit can be claimed only
if it can be demonstrated that the learning activity content was substantially
changed and such change required significant additional study or
research.
d. Documentation for
teaching credit must include:
(1) The name and
contact information of the CPE program sponsor or college or
university;
(2) Verification from
the CPE program sponsor or college or university of teaching the course or
activity, the number of hours taught, and the Fields of Study as described in
Rule 1.10(C);
(3) For teaching CPE,
an attestation from a qualified third party, including, but not limited to, any
one of the program sponsor, developer, or author, that the course or activity
was new or substantially revised, or if the credit is for a college or
university course, an attestation from the accounting department chair that the
course was new or substantially revised;
(4) A statement from the certificate holder
describing how the activity maintained and/or improved the certificate holder's
professional competence as a CPA;
(5) Activity/course syllabus or outline;
and
(6) The certificate holder's
qualifications to present the subject matter.
3. Panel Presentations
a. To qualify for CPE, the panel presentation
must enhance the presenting certificate holder's professional competence, as
provided in Rule 1.10(A).
b. CPE
credit will be granted for the total number of hours of attending the panel
presentation plus preparation time equal to two times the total length of the
panel presentation divided by the number of presenters. Panel presentation
hours will be included as teaching hours for purposes of the limit on teaching
hours specified in Rule 1.9.
c. The
panel presentation must be provided either for the first time or be
substantially revised from the previous time(s) it was presented by the
certificate holder. "Substantially revised" means the majority of the subject
matter content has been significantly modified. Such significant modifications
may be required due to legislative changes, changes in principles, rules,
practices, or standards, for example.
d. Documentation for panel presentation
credit must include:
(1) The name and contact
information of the program provider/sponsor;
(2) Verification of the number of panel
hours;
(3) The Fields of Study as
described in Rule 1.10 or a description of the subject material addressed by
the panel;
(4) If the subject
matter has been previously presented by the certificate holder, the certificate
holder must provide a statement demonstrating that the subject matter presented
was substantially revised;
(5) A
statement from the certificate holder describing how the activity maintained
and/or improved the certificate holder's professional competence as a
CPA;
(6) A presentation syllabus,
outline, or agenda; and
(7) The
certificate holder's qualifications to present the subject matter.
4. Published Article or
Book
Documentation for published article or book credit must include:
a. Proof of publication and
independent review of the article or book;
b. The name and contact information of the
independent reviewer and publisher. "Independent reviewer" means an individual
who demonstrates expertise regarding the same or closely-related subject matter
and who is not affiliated with the certificate holder personally;
c. A summary of hours and identify the CPE
Field of Study claimed, as described in Rule 1.10, with detail of time spent,
with dates, and research performed; and
d. A statement from the certificate holder
describing how the activity maintained and/or improved the certificate holder's
professional competence as a CPA.
5. College or University Coursework
a. Documentation for college or university
coursework must include:
(1) For a credit
course, an original official transcript or grade card from a college or
university; and
(2) For a
non-credit course, a certificate of attendance issued by the college or
university.
b.
AICPA/NASBA CPE Standards calculation for conversion of semester and quarter
hours for CPE credit:
(1) One semester hour
equals fifteen CPE credit hours, and
(2) One quarter hour equals ten CPE credit
hours.
6.
Specialized Industry Programs
Documentation for specialized industry programs that do not comply with all applicable CPE requirements must include:
a. Provider-generated documentation
indicating completion or attendance;
b. A statement from the certificate holder
that demonstrates that the learning activity satisfies, or is equivalent to an
activity that satisfies, the joint standards;
c. Documentation that includes the elements
outlined in Rule 1.10(D)(1)(a) through 1.10(D)(1)(i); and
d. The number of CPE hours claimed and how
those hours were computed.
E.
HARDSHIP EXCEPTIONS
A certificate holder may seek an exception to the CPE requirements by submitting a written request justifying the exception to the Board. The Board will decide on a case-by-case basis whether good cause has been demonstrated to waive the CPE.
F.
CPE COMPLIANCE
1. CPE records of certificate holders may be
audited after renewal periods to verify compliance with the requirements
described in Rules 1.9 and 1.10 . The CPE reporting period is a two-year period
from January 1 of an even-numbered year through December 31 of an odd-numbered
year during which the certificate holder must complete CPE.
2. A certificate holder must provide all
documentation and information requested regarding CPE compliance in a manner
prescribed by the Board within thirty days of a Board request unless otherwise
provided by these Rules.
G.
FAILURE TO COMPLY WITH CPE
REQUIREMENTS
1. If upon review, the
Board or its designee finds that a certificate holder has failed to comply with
the CPE requirements, the certificate holder has thirty days from the date of
the notice of such finding to:
a. Provide
further evidence that the hours submitted meet the CPE requirements established
by these Rules; or
b. Provide
documentation described in Rule 1.10 demonstrating completion of additional CPE
hours during the CPE reporting period that meet the requirements established by
these Rules.
2. If the
Board finds that a certificate holder failed to comply with the CPE
requirements, the Board may impose discipline and/or include the certificate
holder in the CPE audit of subsequent CPE reporting periods.
H.
BOARD ACCEPTANCE OF
COLORADO RULES AND REGULATIONS (CR&R) COURSES
1. The Board will not accept or consider
courses in CR&R that do not cover current Colorado Revised Statutes and
Board Rules and comply with the content outline set forth in this Rule
1.10(H).
2. The CR&R Content
Outline represents only a general description of the materials that must be
addressed in the CR&R course. A CR&R course must address all provisions
of the applicable Colorado Revised Statutes, Board Rules, and Board
Policies.
3. The failure of a
CR&R course to cover all Colorado Revised Statutes and Board Rules and
Policies is not a defense to a violation of the Act or these Rules.
4. For the purposes of CR&R, Colorado
Revised Statutes, Board Rules, and legislative documents may be considered by
program sponsors as instructional materials and not as reference or supplements
to the instructional materials. The use of these documents by program sponsors
when providing CR&R courses will be considered compliant with the Joint
Standards.
5. CR&R Content
Outline:
This course discusses the Colorado Statutes and Rules that pertain to CPAs licensed to practice in the State of Colorado. Students will become familiar with the Colorado Revised Statutes, the Rules of the State Board of Accountancy, and the Policies adopted by the Board currently in effect and how the statutes, rules, and policies pertain to them.
a. Overview of Regulatory Requirements
(1) Review of Colorado Revised Statutes (as
they pertain to accountancy), Board of Accountancy Rules, and
Policies.
(2) Legislative changes
affecting the accounting profession, as applicable.
b. State Board of Accountancy
(1) Organization and duties of the
Board
(2) State Board of
Accountancy Website (overview)
c. Certified Public Accountant Designation
(1) Proper use- Holding Out
(2) Types of Certificates
(3) Status and maintenance of
Certificates
(4) Licensure-
Examination and certification
(5)
Continuing professional education
(6) Disclosures
(7) Names
(8) Mobility/Practice Privilege and
reciprocity
(9) Peer Review
d. Professional Conduct
(1) Unlawful Acts
(2) Accountant/Client Privilege
(3) Grounds for disciplinary Action
(4) Client Records
e. Firms
(1)
Firm Registration
(2) Firm
Names
(3) Peer Review
(4) Disclosures
CR&R course materials and/or certificates of completion must include the date on which the current version offered/taught was last updated.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.