Continuing Professional Education

Continuing Professional Education


In order to renew the license to practice, all CPAs are required to report continuing professional education (CPE) earned during their reporting period. 
 

Reporting Period

 
CPAs with odd-numbered licenses renew in July of 2017
Reporting period - CPE taken between January 1, 2015 - December 31, 2016

CPAs with even-numbered licenses renew in July of 2018
Reporting period - CPE taken between January 1, 2016- December 31, 2017
 

Requirements 

 
If you worked 3,000 hours or more in a public accounting firm during the reporting period (see above for your reporting period) you are required to report completion of 80 hours of CPE with 2 hours in ethics. 
 
If you worked less than 3,000 hours in a public accounting firm during the reporting period (see above for your reporting period) you are required to report 60 hours of CPE with 2 hours in ethics.
 
If you were employed in industry, education or government during the reporting period (see above for your reporting period) you are required to report 60 hours of CPE with 2 hours in ethics.

If your principal place of business is located in another state, you may satisfy the CPE requirements in Kentucky by indicating that you are meeting the requirements in the state in which your principal place of business is located.  If the state in which your principal office is located has no CPE requirement for renewal, you must comply with all CPE requirements for renewal of the license in this state.
 

CPE Waivers 


In some instances, CPAs may not be required to report CPE to renew their license.  CPAs who meet certain criteria may request a waiver from the CPE requirements.  While the Board understands that some situations are unpredictable, licensees are encouraged to submit the waiver request as soon as possible.  Do not wait until renewal time to submit the request.  Doing so can result in delays in the renewal process.  CPE waivers are eligible to be granted for the following reasons:

Physically or psychologically unable to complete the CPE requirements documented by a written statement from a licensed physician or other appropriate authority.

A severe personal hardship which has made it extremely difficult or impossible to meet the CPE requirement.  The hardship must be described in writing.  Changing employers or heavy workloads is not considered to be a severe personal hardship.

Completely retired from public practice and is 55 years of age or older.  Completely retired means not performing accounting services in the practice of public accounting, education, government or industry except for management of personal assets or investments.
 
In each instance, a CPE Waiver Application must be submitted along with any other necessary documentation.  If you think you qualify for a CPE waiver, download the Initial Request for CPE Waiver.pdf and submit it to the Board at least 7 working days prior to any monthly Board meeting.  You should request the waiver prior to the expiration of your license to insure your ability to continue to practice.
 

Completion Documents 


A CPE course completion document indicates completion of a formal program of learning which includes:

Name of the sponsor
Name of the participant
Name of course completed
Dates attended
Number of CPE contact hours
 
To be considered a completion document, a computerized printout must contain the information listed above and the signature of the education coordinator or one who verifies attendance of the CPA at the courses listed.
 

Maintaining Records 


Licensees are responsible for insuring that completion documents are obtained and kept for a period of five (5) years.  If completion documents cannot be provided to the Board upon request, those CPE hours will not be accepted.
 

Acceptable Courses 


Prior approval of courses and/or providers is not required for the program to qualify for CPE credit.  Programs qualify for CPE if the following criteria is met by the course provider:
An outline of the program is prepared in advance and preserved.
The program is at least one (1) CPE hour in length (50 minutes) excluding meals and breaks.
The program is conducted by a qualified instructor.  A qualified instructor is one whose background, training or experience makes it appropriate for them to lead discussion in the subject matter.
A record of registration or attendance is maintained by the sponsor.
A course completion document is provided to the attendees.
The overriding consideration in determining whether a specific course qualifies as acceptable continuing professional education shall be whether it is a formal program of learning which contributes directly to the professional competence of an individual licensed to practice as a certified public accountant in this state. The following fields of study shall be considered acceptable if the courses satisfy all of the criteria established in subsections (1), (2), and (5) of this section 201 KAR 1:100: 1. Accounting and finance; 2. Auditing;            3. Taxation; 4. Business management services; 5. Information technology; 6. Business communications; 7. Statistics; 8. Ethics; 9. Economics; 10. Business law; 11.Securities; 12. Marketing; and 13. Specialized areas of industry that contribute directly to the professional competence of a licensee.
 
Programs that deal with the following subject areas shall not be considered acceptable continuing education: 1. Personal growth or development; 2. Self-realization; 3. Spirituality;
4. Personal health or fitness; 5. Sports and recreation; 6. Foreign languages or cultures; and 7. Any other subjects that do not contribute directly to the professional competence of the licensee.
 
The responsibility for substantiating that a particular course is acceptable and meets the requirements of the administrative regulation for CPE shall be the obligation of the licensee.
 

CPE Credit Allowed 


Licensees may claim one (1) hour of CPE for each fifty (50) minutes of technical session attended.
Self-study programs qualify on an hour-for-hour basis.
For further information review 201 KAR 1:100.