Wyo. Code R. 061-0001-5
Accountants, Board of Certified Public
Chapter 5: Continuing Professional Education (CPE)
Effective Date: 03/20/1995 to 01/02/1997
Rule Type: Superceded Rules & Regulations
Reference Number: 061.0001.5.03201995
commerce/accountant/05_Continuing_Professional_Education_CPE
Agency COMMERCE Commerce, Dept. of Program ACCOUNTANT Board of Certified Public Accountants
Chapter Name Continuing Professional Education (CPE) Chapter No.5
Date Filed 03/20/95 Expr Date
Supr Date Repeal Date
Document Type RULES
(a) In the three (3) full fiscal (7/1 - 6/30) years immediately preceding the renewal of a permit-to-practice, the applicant shall have completed 120 hours of acceptable continuing professional education; however, applicants who apply within a two (2) calendar year period of successful completion of the exam and of meeting the education requirements shall complete eighty (80) hours of acceptable continuing professional education in the two (2) full fiscal years immediately preceding the first renewal of the permit-to-practice.
(b) The Wyoming Board of Certified Public Accountants shall have authority to make exceptions for reasons of health, military service, retirement, etc.
(c) A minimum of forty percent (40%) must be outside continuing professional education. In-house CPE consists of correspondence or formal individual self-study and formal firm programs with no outside instructors or participants. Nontechnical programs are limited to forty (40) hours in a three-year renewal period. Credit claimed for non-technical programs shall be granted during the applicable renewal period only, no adjustments may be made due to expiring credit from previous years.
(d) Permit holders who perform governmental audits must comply with the continuing education requirements as outlined in the governmental auditing standards.
(a) General. All holders of an active permit-to-practice public accounting are required to comply with the continuing professional education requirements. The Board anticipates that permit holders will maintain the high standards of the profession in selecting quality educational programs to fulfill the continuing professional education requirement.
(b) Inactive Permit Holders. Holders of inactive permits not engaged in public accounting are excepted from the continuing professional education requirements until such time as they enter or reenter the practice of public accounting.
Section 3. Programs Which Qualify
(a) Selection of appropriate continuing education will be at the discretion of the permit holder, who is determined to be the best judge of his needs for maintenance or improvement of professional competence.
(b) The overriding consideration in determining whether a specific program qualifies is that it shall be a program of learning which contributes to the professional competence of any individual who is licensed with a permit-to-practice as a certified public accountant.
(c) If advance approval should deem to be necessary, the Board will consider submittals requesting advance approval at its regular meetings in May, July, and November of each year. Submittals, to be made on or before April 15 for consideration at the May meeting, on or before June 15 for consideration at the July meeting, and on or before October 15 for consideration at the November meeting, shall contain a summary of the course or program content; a list of all instructors involved, including their respective qualifications; the time or times the course or program will be presented; the number of hours of credit requested; and a statement as to how the course or program is intended to enhance professional knowledge and/or competence.
(d) Formal programs requiring class attendance shall qualify if:
(e) The following are deemed to qualify provided the above requirements are met:
(A) Credit courses - each semester hour credit will equal twenty-four hours toward the requirement. A quarter hour credit will equal sixteen hours. Credit earned for courses taken to obtain an initial baccalaureate degree that qualifies an individual to sit for the examination will not qualify under this section.
(B) Non-credit short courses.
(iv) formal organized in-firm educational programs; and
(v) programs in other organizations (accounting, industrial, professional, etc.).
(f) the following may qualify with the amount of credit to be determined by the Wyoming Board of Certified Public Accountants:
(i) formal correspondence or other individual study programs which require registration and provide evidence of satisfactory completion; and
(ii) service on technical committees of professional organizations.
(a) Acceptable Subject Matter and Programs. The following general subject matters are acceptable as technical courses so long as they contribute to the professional competence of the individual practitioner: Accounting and Auditing; Taxation; Management Services; Economics; Business Law; Mathematics; Statistics; Probability and Quantitative Applications in Business; Functional Fields of Business; Finance; Specialized Areas of Industry (i.e., Film Industry, Real Estate, Farming, etc.); and Personal Financial Planning.
(b) The following subject matters are considered nontechnical and can be claimed in an amount not to exceed the requirements in Section 1(c): Computer Science; Personnel Relations; Administrative Practice (i.e., Fee Structures, Personnel, etc.); Personal Development (i.e., Communication Skills, Public Relations, Time Management, etc.); Law courses other than Business Law or those directly related to accounting or tax matters; and MAP Conferences.
Areas other than those listed in subsections (a)(b) above may be acceptable if the permit holder can demonstrate that they contribute to this professional competence. The responsibility for substantiating that a particular program is acceptable and meets requirements rests solely upon the permit holder.
(c) Credit Granted - General. Continuing professional education credit will be given for whole hours only, with a minimum of fifty (50) minutes constituting one (1) hour. As an example, one hundred (100) minutes of continuous instruction would count for two (2) hours; however, more than fifty (50) minutes but less than one hundred (100) minutes of continuous instruction would count only for one (1) hour. Credit is awarded during the fiscal year when the course is attended or completed unless otherwise approved by the Board.
(d) Credit for Formal Individual Study Programs. In determining the amount of credit to be allowed for specific correspondence and formal individual study programs (including taped study programs), the Board will determine the equivalency of the program to a comparable seminar or comparable course for credit in an accredited educational institution. Permit holders claiming credit for such courses will be required to furnish evidence of satisfactory completion of the course. Credit will be allowed in the renewal period in which the course is completed.
(e) Credit for Service as Lecturer, Discussion Leader or Speaker. Credit for one (1) hour of CPE will be awarded for each hour completed as an instructor or discussion leader to the extent that the particular activity contributes to the professional competence of the permit holder as determined by the Board. Credit as an instructor, discussion leader or speaker will be allowed for any meeting or engagement provided that the session is one which would meet the CPE requirements of those attending. The credit allowed an instructor, discussion leader or speaker will be on the basis of a maximum of two (2) hours for subject preparation for each one (1) hour of teaching. The maximum credit for such preparation and teaching will not exceed fifty percent (50%) of the renewal period requirement (50% of 120). Repetitious presentations will not be counted. Credit for permit holders attending not as instructors, discussion leaders or speakers is limited to the actual meeting time. Credit claimed shall be granted during the applicable renewal period only, no adjustments may be made due to expiring credit from previous years.
(f) Credit for Published Articles, Books, Etc. Credit may be awarded for published articles and books. The amount of credit so awarded will be determined by the Board. Credit may be allowed for published articles and books provided they contribute to professional competence of the permit holder. Credit for preparation of such publications may be given on a self-declaration basis up to twenty-five (25%) of the renewal period requirement (25% of 120). In exceptional circumstances, permit holders may request additional credit by submitting the article(s) or book(s) to the Board with an explanation of the circumstances which he feels justify a greater credit. Credit claimed shall be granted during the applicable renewal period only, no adjustments may be made due to expiring credit from previous years.
(g) Credit for Committee Meetings. Participation in technical committee meetings of recognized professional societies may qualify if they meet the appropriate requirements.
(h) Credit for Dinner and Luncheon Meetings, Etc. Dinner, luncheon and breakfast meetings of recognized accounting organizations may qualify if they meet the appropriate requirements.
(i) Credit for Firm Meetings, Etc. Firm meetings for staff or for management groups may qualify if they meet the appropriate requirements. Outside credit may be claimed when instructors or participants from outside the local office are involved, instructors or participants need not be outside the firm. Portions of such meetings devoted to administrative and firm matters cannot be included.
(j) Appropriate Requirements. The appropriate requirements referred to in (g), (h), and (i) include:
(i) the program must contribute directly to the professional competence of the permit holder;
(ii) the program is at least one (1) hour (fifty minute period) in length; and (iii) a record of attendance is maintained.
(iv) Firm meetings will qualify only if, in addition to the above requirements, the program is conducted by a qualified instructor, and an outline of the program is prepared in advance and preserved.
Section 5. What is a Qualified Instructor? A qualified instructor or discussion leader is anyone whose background, training, education, or experience makes it appropriate for him to lead a discussion on the subject matter of the particular program.
Section 6. Evidence of Completion - Retention. Primary responsibility for documenting the requirement rests with the permit holder and evidence to support fulfillment of those requirements must be retained for a period of four (4) years after the completion of education courses. Satisfaction of the requirements, including the retention of attendance records and written outlines, may be accomplished as follows:
(a) In the case of courses taken for scholastic credit in accredited universities and colleges (state, community or private) or high school districts, evidence of satisfactory completion of the course will be sufficient.
(b) In all other instances, the permit holder must obtain an outline or program and evidence of attendance. In the case of noncredit courses taken in educational institutions, a signed statement of the hours of attendance must be obtained from the instructor.
Section 7. Reciprocity. An individual who holds a valid and unrevoked certified public accountant certificate and permit-to-practice or license issued by a state or other political subdivision of the United States, or other political subdivision of the United States, or comparable certificate or degree issued by any foreign country, and who received a permit-to-practice in this State under the appropriate provisions of this Act, will be required to comply with the CPE requirements when his permit is next renewed and each succeeding renewal thereafter.
Section 8. Reentry of Public Practice. Prior to reentering public practice from areas such as private industry, government, education or otherwise excepted from the provisions of the CPE requirement, an individual shall make appropriate application and comply with continuing professional education requirements.
(a) To renew an unexpired permit, a registrant shall, before the time at which the permit would otherwise expire, apply for renewal on a form prescribed by the Board, pay the renewal fee prescribed and give evidence to the Board that he has complied with the CPE provisions.
(b) To renew the permit in 1996 a registrant shall complete all continuing education requirements no later than June 30, 1995. Education hours earned from July 1, 1994 through June 30, 1995 may be applied towards the requirement even though a portion of those hours were used to renew the 1995 permit. The duplicative allowance will be available for this transitional renewal period only. The Board will consider granting exceptions for good cause shown due to transitional requirements.
Section 10. Controls and Reporting.
(a) Annual Reporting. Applicants for renewal must provide annually a signed statement of the CPE programs which they claim to be acceptable showing:
(i) sponsoring organization;
(ii) location of program;
(iii) title of program or description of content;
(iv) dates attended; and
(v) hours claimed.
(b) Verification. The Board will verify on a test basis information submitted by the permit holder. If an application for permit renewal is not approved, the applicant will be so notified and he may be granted a period of time by the Board in which to correct the deficiencies noted.
(c) CPE Report Forms. The CPE report forms are due in the Board's office no later than November 1 of each year. In the month of October a CPE reminder and report form will be mailed to each Wyoming permit holder.