Activity Review
North Carolina State
Board of Certified Public
Accountant Examiners
1101 Oberlin Road, Suite 104 • PO Box 12827 • Raleigh, NC 27605 • 919-733-4222 • No. 9-2008
Review of Annual CPE Requirements
The December 31, 2008, deadline for
completing the annual CPE require¬
ments for license renewal is quickly
approaching. Do you know what the
requirements are?
21 NCAC 08G .0401(e) states that
active CPAs must complete 40 CPE
hours, computed in accordance with
21 NCAC 08G .0409, by December 31 of
each year.
However, individuals whose cer¬
tificate applications are approved by
the Board in April, May, or June must
complete 30 CPE hours during the same
calendar year; individuals whose cer¬
tificate applications are approved by
the Board in July, August, or Septem¬
ber must complete 20 CPE hours dur¬
ing the same calendar year; and indi¬
viduals whose certificate applications
are approved by the Board in October,
November, orDecembermust complete
10 CPE hours during the same calendar
year.
For a CPA to claim credit for a CPE
course, the CPA must complete the
course; the course must meet the re¬
quirements set forth in 21 NCAC
08G .0404; and the course mustincrease
the professional competency of the
CPA.
Because of differences in the edu¬
cation and experience of CPAs, a course
may contribute to the professional com¬
petence of one CPA, but may not con¬
tribute to the professional competence
of another CPA.
Therefore, each CPA must exercise
his or her professional judgment in se¬
lecting courses for which CPE credit is
claimed and should choose only those
courses that contribute to his or her
professional competence.
Although the Board registers CPE
sponsors, it does not approve individual
CPE courses (except ethics courses); a
list of Board-registered CPE sponsors is
available on the Board's web site,
www.nccpaboard.gov, through the
database (clickonthe "Licensee Search"
link). These sponsors have agreed to
conduct programs in accordance with
the standards set forth in
21 NCAC 08G .0404.
CPE sponsors in good standing on
NASBA's National Registry of CPE
Sponsors are considered to be regis¬
tered CPE sponsors by the Board.
21 NCAC 08G .0410, Professional
Ethics and Conduct CPE, requires that as
part of the annual CPE requirement, all
active CPAs complete either a two hour
group-study course or a four hour self-
study course on professional ethics and
conduct as set forth in 21 NCAC 08N.
Only those ethics courses which
have been approved by the Board as
acceptable NC ethics courses can be
used to fulfill the ethics CPE require¬
ment. A list of acceptable Board-ap¬
proved ethics courses is available on
the Board's web site,
www.nccpaboard.gov.
A non-resident CPA (a licensee who
neither lives nor works in North Caro¬
lina) may satisfy the annual ethics re¬
quirement by completing the ethics re¬
quirements in the jurisdiction in which
he or she is licensed and works or re¬
sides.
If there is no ethics CPE require¬
ment in the jurisdiction where a non¬
resident CPA is licensed and resides or
works, he or she must complete one of
the Board's approved ethics CPE
courses.
Again, only those ethics courses
which have been approved by the Board
can be used to fulfill the ethics CPE
requirement.
21 NCAC 08G . 0409(c) requires that
all active CPAs, including those indi¬
viduals licensed within the current year,
complete at least eight hours of non-
self-study CPE each year as part of the
annual 40-hour CPE requirement.
A CPA is not required to take any
self-study CPE, but is required to take
at least eight hours of non-self-study
CPE.
CPE Requirements
continued on page 6
www.nccpaboard.gov
In This Issue-
Board Meeting Dates . 7
Cease and Desist Orders . 5
Certificates Issued . 4
CPE Tracking Tool . 6
Disciplinary Actions . 2
Inactive Status . 7
In Memoriam: Phil Windham . 4
Notice of Address Change . 8
Peer Review: A Niche Market . 6
Reclassifications . 4