The following requirements apply to applicants who seek to
qualify for certification pursuant to sections
12-100-107 and
12-100-108, C.R.S.
A.
GENERAL EXPERIENCE AND VERIFICATION
REQUIREMENTS
1. An applicant has
satisfied the experience requirement necessary to be issued a certificate upon
completion of 1,800 qualifying work hours verified by one or more verifiers as
defined in Rule 1.7(A)(5).
a. The work hours
must be obtained within the five years immediately preceding the date the
application is received by the Board or its designee.
b. The work hours may include any combination
of full-time and part-time work. Academic internship hours may be included if
not claimed under Rule 1.5 for education credit.
c. Except as provided in Rule 1.7, the work
hours must be obtained while employed by one or more employers.
d. The work hours must be obtained over a
period of not less than one year and not more than three years.
2. The work experience must
involve the application of appropriate technical and behavioral standards, such
as the AICPA Code of Professional Conduct and other standards contained in the
AICPA Professional Standards, U.S. GAAP, U.S. GAAS,
Statements on Standards for Attestation Engagements (SSAE),
Statements on Standards for Accounting and Review Services
(SSARS), Statements on Standards for Tax Services (SSTS),
Statements on Standards for Management Consulting Services, or
other such standards as determined by the Board.
3. "Qualifying work hour(s)" means hours
spent primarily applying the standards described in Rule 1.7 . Holidays,
vacations, and family/employee sick leave shall not be included as qualifying
work hours. Clerical experience does not count toward qualifying work hours.
Clerical experience includes, but is not limited to, mere data entry, mere
mathematical calculations, mere account analysis of information already
recorded, and merely recording information in the general ledger.
4. Comparable work experience not
specifically addressed by these Rules may be considered by the Board on a
case-by-case basis, but must include application of the standards described in
Rule 1.7(A)(2).
5. "Verifier" means
a CPA who is, for the entire period verified, actively licensed in any State or
a country that is part of the Mutual Recognition Agreement as set forth in Rule
1.8 . The verifier cannot be subordinate to or otherwise under the supervision
or control of the applicant. The verifier must attest to having direct and
continuous knowledge of the work done by the applicant and to having performed
contemporaneous periodic review and evaluation of the Applicant's work. The
Board in its discretion may grant exceptions to the requirements in this
subsection for good cause.
6. The
applicant must submit a certificate of experience from all relevant employers
including details of the work experience and verification in a manner
prescribed by the Board or its designee. Certificates of experience for
part-time work must contain a record of the actual hours the applicant has
worked for each week of part-time employment. The certificate of experience and
all additional details must be signed by the verifier.
7. The Board may request and review
information regarding the work experience submitted, including, but not limited
to, evidence of experience with the standards described in Rule 1.7, work
papers, reports, syllabi, course materials, and/or time records. The Board may
also interview applicants, verifiers, and any other person who might possess
relevant information.
B.
PUBLIC ACCOUNTING
Qualifying public accounting experience, for purposes of this
Rule, consists of performing services for a client or potential client,
including, but not limited to, any combination of services involving the use of
accounting or attestation skills, the issuance of reports on financial
statements, management advisory or consulting services, preparing tax returns,
or furnishing advice on tax matters. Such work consists of employment by a CPA
or Firm performing services primarily involving the application of the
standards described in Rule 1.7.
C.
INDUSTRY
Qualifying industry experience consists of performing
services, including for an employer, primarily involving the application of the
standards described in Rule 1.7 . Such services may include, but are not
limited to, internal audit, installation of internal control systems, preparing
Financial Statements, management advisory or consulting services, preparing tax
returns, or furnishing advice on tax matters.
D.
GOVERNMENT
Qualifying government experience consists of employment by a
federal, state, or local government entity. Such work consists of employment
performing services primarily involving the application of the standards
described in Rule 1.7 . Such services may include, but are not limited to,
internal or external audit, installation of internal control systems, preparing
Financial Statements, management advisory or consulting services, or regulatory
reporting on financial matters.
E.
ACADEMIA
1. Qualifying academic experience consists of
teaching in the accounting discipline for academic credit at a regionally
accredited college or university. The teaching must include at least two
different accounting courses taught above the introductory level involving the
standards described in Rule 1.7(A)(2). One year of experience consists of
teaching no less than twelve semester hours or the equivalent in quarter hours.
Courses outside the field of accounting do not count toward the experience
requirement. Such non-qualifying courses include, but are not limited to,
business law, finance, computer applications, personnel management, marketing,
economics, and statistics.
2. In
addition to a certificate of experience, the applicant must submit with the
application a letter from each institution where the qualifying hours were
taught, signed by the dean or department head at that institution. The letter
must include:
(a) the number of credit hours
that the applicant taught for the relevant years; and
(b) the name and academic level, course
description, and syllabus for each course taught. The verifier must be the
department chair or a faculty member, who shall also be a CPA as described in
Rule 1.7(A)(5).
Notes
3 CCR 705-1.7
44
CR 03, February 10, 2021, effective
3/2/2021
44
CR 20, October 25, 2021, effective
11/14/2021
45
CR 11, June 10, 2022, effective
6/30/2022
45
CR 17, September 10, 2022, effective
9/30/2022
45
CR 20, October 25, 2022, effective
11/14/2022
