Wyo. Code R. 061-0001-5
Accountants, Board of Certified Public
Chapter 5: Continuing Professional Education
Effective Date: 08/11/1999 to 12/13/2001
Rule Type: Superceded Rules & Regulations
Reference Number: 061.0001.5.08111999
(a) In the three (3) full fiscal (4/1 - 3/31) 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.
(i) Effective with the 11/2000 reporting date and thereafter, all permit holders shall complete 120 hours of acceptable continuing education courses in the three full calendar years immediately preceding the expiration of a 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. Non-technical 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.
(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) Formal programs requiring class attendance shall qualify if:
(i) the program is conducted by a qualified instructor; and
(ii) a record of registration or attendance is maintained.
(d) The following are deemed to qualify provided the above requirements are met:
(i) professional development programs of the national and state professional societies;
(ii) technical sessions at meetings of the national and state societies and chapters;
(iii) university or college courses - - each semester hour credit will equal fifteen (15) hours toward the requirement. A quarter hour credit will equal ten (10) 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.
(iv) formal organized in-firm educational programs;
(v) programs in other organizations (accounting, industrial, professional, etc.).
(vi) formal correspondence or other individual study programs which require registration and provide evidence of satisfactory completion; or
(vii) 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 non-technical 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 his 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 calendar year when the course is attended or completed unless otherwise approved by the Board.
(d) Credit for Formal Individual Study Programs. The amount of credit allowed for specific correspondence or formal individual study programs (including taped study programs), shall be based on the criteria set forth in subsection (c) of this section and the course producer's recommended credit. Prior to the November 2000 reporting period, permit holders claiming credit for such courses will be required to furnish evidence of satisfactory completion of the course with the renewal application. 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. 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 credit for service as a lecturer or instructor, a signed statement from the course provider verifying the service was provided must be obtained.
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.
Section 9. Controls and Reporting.
(a) Annual Reporting. No later than November 1 of each calendar year, applicants, when making application for renewal, must annually submit on the prescribed form a signed statement setting forth the following:
(i) the number of hours of continuing education completed in the applicable categories;
(ii) a listing of the courses completed or to be completed prior to December 31 of the renewal year including the following information:
(A) sponsoring organization;
(B) location of program;
(C) title of program or description of content;
(D) dates attended; and
(E) hours claimed;
(iii) a designation regarding the request for an extension of time to complete requirements, if applicable.
(b) Verification. The Board will verify on a test basis (to a maximum of a 20% audit) information submitted by the permit holder.
(i) registrants, selected by random sample and pursuant to subsection (c)(ii) of this section, shall submit verification of attendance at all courses listed on the renewal application. Verification of attendance shall include certificates of completion, certificates of attendance, sign in sheets, college transcripts, etc.
(ii) by April 15 of each calendar year the Board shall contact those registrants selected for audit. Registrants will be required to submit verification of attendance as follows:
(A) By 6/30/2001, verification of attendance at courses taken from 4/99 through 12/31/00;
(B) By 6/30/2002, verification of attendance at courses taken from 4/99 though 12/31/01;
(C) By 6/30/2003 and thereafter, verification of attendance at courses taken in the three calendar years prior to the date of the audit.
(c) Extensions:
(i) The Board may, upon written request, extend the time within which registrants must comply with the requirements of this chapter for reasonable and just cause;
(ii) Any registrant who requests or is granted an extension of time under this rule shall be subject to audit under subsection (b) of this section.
(a) To renew an expired permit, a registrant shall submit a reinstatement application pursuant to Chapter 7, Section 23(b) of the Rules and Regulations.
(i) an additional late fee for each applicable calendar year shall be imposed upon registrants submitting renewal applications after December 31.
(b) A registrant must remedy any deficiency of hours discovered as a result of an audit within one hundred eighty (180) days of formal notification by the Board.