Board Rule 13 Summary
Board Rule that covers the requirements for CPE – Rule 13
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CPE Audit Policy
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
- GROUP STUDY: Minimum of 8 hours based on 40-hour rule or 24 hours based on 120-hour rule is required.
- CONTENT: For licensees engaged in the practice of public accountancy, a minimum of 16 hours based on 40-hour rule or 48 hours based on 120-hour rule shall be completed in the following: Accounting/Attest, Accounting Ethics, or Taxation. For those not engaged in the practice of public accountancy, the minimum is 8 hours under the 40-hour rule or 24-hours based on the 120-hour rule.
- ENGAGED IN ATTEST/COMPLICATIONS: 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.
- ETHICS: All license holders must have at least 4 hours of Accounting Ethics in any 36 month reporting cycle. One of those hours must be the Arkansas State Board of Accountancy Laws and Rules course.
- NEW LICENSEES: Licensees who receive their initial license during the current calendar year must obtain CPE hours prorated based upon the date of initial license. They are exempt from ethics requirement until their first full year of licensure.
- 120-HOUR RULE REPORTING CYCLE: 36 months immediately preceding the expiration date of the current license.
- 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 considered the official source.
CPE Audit Process
What to do – Selected for a CPE Audit