SECTION .0400 - CPE REQUIREMENTS
21 NCAC 08G .0401 CPE REQUIREMENTS FOR CPAS
(a) In order for a CPA to receive CPE credit for a course:
(1) the CPA shall attend or complete the course and receive a certificate of completion as set forth in Rule .0403(c)(13) of this Section;
(2) the course shall meet the requirements set out in Rule .0404(a) and (c) of this Section; and
(3) the course shall increase the professional competency of the CPA.
(b) A course that increases the professional competency of a CPA shall be a course in an area of accounting in which the CPA practices or is planning to practice in the future, in the area of professional ethics, or an area of the profession.
(c) Because of differences in the education and experience of CPAs, a course may contribute to the professional competence of one CPA but not another. Each CPA shall therefore exercise judgment in selecting courses for which CPE credit is claimed and choose only those that contribute to that CPA's professional competence.
(d) Active CPAs shall complete 40 CPE hours, computed in accordance with Rule .0409 of this Section by December 31 of each year, except as follows:
(1) CPAs having certificate applications approved by the Board in April-June shall complete 30 CPE hours during the same calendar year;
(2) CPAs having certificate applications approved by the Board in July-September shall complete 20 CPE hours during the same calendar year; or
(3) CPAs having certificate applications approved by the Board in October-December shall complete 10 CPE hours during the same calendar year.
(e) There shall be no CPE requirements for inactive CPAs.
(f) Any CPE hours completed during the calendar year in which the certificate is approved may be used for that year's requirement even if the hours were completed before the certificate was granted. When a CPA has completed more than the required number of hours of CPE in any one calendar year, the extra hours, not in excess of 20 hours, shall be carried forward and treated as hours earned in the following year. Ethics CPE hours may not be included in any carry forward hours. A CPA shall not claim CPE credit for courses taken in any year prior to the year of certification.
(g) Any CPE hours used to satisfy the requirements for change of status as set forth in 21 NCAC 08J .0105, for reissuance as set forth in 21 NCAC 08J .0106 or for application for a new certificate as set forth in Rule 08I .0104 of this Chapter may be used to satisfy the annual CPE requirement set forth in Paragraph (d) of this Rule.
(h) It shall be the CPA's responsibility to maintain records substantiating the CPE credits claimed for the current year and for each of the four calendar years prior to the current year.
(i) A non-resident licensee may satisfy the annual CPE requirements including this Rule in the jurisdiction in which he or she is licensed and currently works or resides. If there is no annual CPE requirement in the jurisdiction in which he or she is licensed and currently works or resides, he or she shall comply with Paragraph (d) of this Rule.
History Note: Authority G.S. 93-12(3); 93‑12(8b);
Eff. May 1, 1981;
Amended Eff. January 1, 2014; January 1, 2007; January 1, 2004; August 1, 1995; April 1, 1994; May 1, 1989; September 1, 1988;
Readopted Eff. February 1, 2016.