Board Rule 13 Summary
Rule 13 - Board rule that covers the requirements for CPE.
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NEW CPE AUDIT POLICY
Effective with the 2017 CPE Audit (audit of courses submitted for the 2017 license renewal), those who fail a CPE Audit will be required to make up the hours disallowed in the audit in addition to paying a fine. For several years, the audits have resulted in fines only, but the Board believes that the profession and the public are better served by having CPAs who fail to meet the CPE standards make up the hours that were either not taken or disallowed.
Summary of Rule 13 - CPE Requirements
1. GROUP STUDY: Minimum of 16 hours based on the 40-hour rule or 48 hours based on the 120-hour rule is required.
2. CONTENT: Minimum of 20 hours based on the 40-hour rule or 60 hours based on the 120-hour rule shall be completed in the following: Accounting/Attest, Accounting Ethics, or Taxation.
3. ENGAGED IN ATTEST/COMPILATIONS: If the licensee is engaged in attest or compilation functions, a minimum of 8 hours based on the 40-hour rule or 24 hours based on the 120-hour rule must be completed in Accounting/Attest.
4. ETHICS: All license holders must have at least 4 hours of Accounting Ethics in any 36 month reporting cycle. Beginning January 1, 2015, one of those hours must be the Arkansas State Board of Accountancy Laws and Rules course.
5. NEW LICENSEES: Licensees who receive their initial licensure during the current calendar year must obtain CPE hours prorated based upon the date of initial licensure. They are exempt from the ethics requirement until their first full year of licensure.
6. 120-HOUR RULE REPORTING CYCLE: 36 months immediately preceding the expiration date of the current license, for license renewals. However, for new license applications, this requirement is for 36 months immediately preceding the license application date.
7. SPONSORS: CPE sponsors must be registered with NASBA. The certificate of completion must include the sponsor’s registry number. Professional accounting and legal organizations, accredited universities and colleges, firms, and government entities are exempt from the NASBA registry requirement.
This CPE Summary is for supplemental purposes only and not the official source. Board Rule 13 and AR Code Annotated § 17-12-502 CPE Requirement should be reviewed for your official source.