Colorado Accountancy CPE

Requirements and Additional Information

• Of the hours of CPE, 4 hours MUST BE in Ethics. Of which 2 hours may be in Colorado Rules and Regulations (CR&R). For the purpose of CPE, Behavioral Ethics will not be considered Personal Development.
• No more than 20% of CPE can be in Personal Development, as defined by the NASBA Fields of Study for CPE Guide. (Subjects related to personal development include, but are not limited to Career Planning, Leadership, Time Management).
• No more than 50 % of CPE can be in any combination of publishing an article or book, teaching, or presenting on a panel.
• There is no limit on the number of CPE hours that can be taken online. For internet-based CPE programs, a minimum of 75% of the polling questions, if used as a monitoring mechanism, must be answered by the CPA to receive credit for the CPE activity.
• Program sponsors will be deemed in compliance with Joint Standard 17 of the joint Statement on Standards for CPE Programs regarding CPE credit for self-study learning activities if the program developer or vendor meets one of the following:
  • Pilot tests the representative completion time.
  • Computes the recommended CPE credit using the prescribed word count formula.
  • Attests to the appropriateness of the recommended CPE credit for the self-study learning activity.
• Learning activities that do not maintain and/or improve professional competence as a CPA will not count for credit. Such activities include, but are not limited to, activities that teach fundamental accounting skills, such as or comparable to, first and second-semester principles of accounting or their equivalent.
• Academic college or university courses may count for CPE credit if they meet the following:
  • The course cannot have been used for any licensure requirements and must be in a NASBA Field of Study related to maintaining or increasing your professional competence as a CPA.
  • If the course was audited or taken without credit, the course instructor, with contact information, must sign an affidavit verifying the actual hours attended by the CPA.
  • 1 semester hour qualifies for 15 CPE hours.
  • 1 quarter hour qualifies for 10 CPE hours.

Colorado Rules and Regulations (CR&R)

CPA's certified in Colorado are required to complete at least 2 hours of CR&R within 6 months of receiving their initial certificate. After completing this initial requirement, you are not required to take CPE courses in CR&R during each reporting period; however, you can if you like.

• Up to 2 CR&R hours that meet the following requirements may be applied to a CPA’s CPE renewal requirement in Ethics.
• Compliant CR&R courses completed in excess of 2 hours will not be considered CR&R or Ethics CPE by the Board. Instead, the excess hours will count as Specialized Knowledge and Applications as defined in the NASBA Fields of Study for CPE Guide.
• CR&R course materials and/or certificates of completion must include the date on which the current version offered/taught was last updated.
• CR&R courses must cover all provisions of the current Colorado Revised Statutes, Board Rules, and Board Policies and comply with the Board’s CR&R Content Outline.

CR&R Content Outline:

• Overview of the Regulatory Requirements.
• Review of Colorado Revised Statutes (as they pertain to Accountancy),  Board of Accountancy Rules and Policies.
• Legislative changes affecting the accounting profession, as applicable.
• State Board of Accountancy and website overview.
• Organization and duties of the Board.
• Certified Public Accountant Designation.
• Proper use - Holding Out.
• Types of Certificates.
• Status and maintenance of Certificates.
• Licensure, Examination, and Certification.
• Continuing Professional Education.
• Disclosures.
• Names.
• Mobility/Practice Privilege and Reciprocity.
• Peer Review.
• Professional Conduct.
• Unlawful Acts.
• Accountant/Client Privilege.
• Grounds for Disciplinary Action.
• Client Records.
• Firms, Firm Registration, and Firm Notes.

Publishing, Panel Presentations and Teaching

Publishing

CPE hours may be earned from publishing a professional article or book during the reporting period. To earn credit, the documentation must include:

• Proof of publication and independent review of the article or book.
• The name and contact information of the independent reviewer and publisher.
  • “Independent Reviewer” means an individual who demonstrates expertise regarding the same or closely related subject matter and who is not affiliated with the certificate holder personally.
• A summary of hours and indication of the NASBA Field of Study claimed, along with a detailed account of time spent, with dates, and research performed.
• A statement from the CPA describing how the activity maintained and/or improved their professional competence as a CPA.

Panel Presentations

To qualify for CPE, a panel presentation must enhance the presenting CPA’s professional competence.

• CPE credit will be granted for the total number of hours of attending the panel presentation plus preparation time equal to two times the total length of the panel presentation divided by the number of presenters. Panel presentation hours will be included as teaching hours for purposes of the limit on teaching hours specified in Board Rule.
• The panel presentation must be provided either for the first time or be substantially revised from the previous time(s) it was presented by the CPA.
  • “Substantially Revised” means the majority of the subject matter content has been significantly modified. Such significant modifications may be required due to legislative changes, changes in principles, rules, practices, or standards, for example.

Documentation for panel presentation credit must include:

• The name and contact information of the program provider/sponsor.
• Verification of the number of panel hours.
• The NASBA Fields of Study for CPE Guide or a description of the subject material addressed by the panel.
• If the subject matter has been previously presented by the CPA, they must provide a statement demonstrating that the subject matter presented was substantially revised.
• A statement from the CPA describing how the activity maintained and/or improved their professional competence as a CPA.
• A presentation syllabus, outline, or agenda.
• The CPA’s qualifications to present the subject matter.

Teaching

Teaching for CPE credit means providing instruction. To qualify for CPE, the instruction must enhance the teaching CPA’s professional competence. Study sessions do not qualify for CPE credit.

• CPE credit may only be earned for the first time a course is taught, unless the material has been substantially revised from a previous time(s).
  • “Substantially Revised” means the majority of the presentation and/or course content has been significantly modified. Such significant modifications may be required due to legislative changes, changes in principle, rules, practices, or standards, for example. Simple updates to a textbook or edition change do not constitute a significant modification.
• Instructors, discussion leaders, or speakers who present a learning activity for the first time may receive CPE credit for actual preparation time up to two times the number of CPE credits to which participants would be entitled, in addition to the time for presentation.
  • Example: For learning activities in which participants could receive 8 CPE credits, instructors may receive up to 24 CPE credits (16 for preparation plus 8 for presentation).

Documentation for teaching credit must include:

• The name and contact information of the CPE program sponsor, college, or university.
• Verification from the CPE program sponsor, college, or university that indicates the course or activity, the number of hours taught, and the NASBA Fields of Study for CPE Guide.
  • This verification could be an attestation from a qualified third party, including, but not limited to, any one of the program sponsor, developer, or author, that the course or activity was new or substantially revised, or if the credit is for a college or university course, an attestation from the accounting department chair that the course was new or substantially revised.
• A statement from the CPA describing how the activity maintained and/or improved their professional competence as a CPA.
• Activity/course syllabus or outline.
• The certificate holder’s qualifications to present the subject matter.

Documentation Requirements

CPA's must maintain their own CPE records for at least 5 years. Documentation for CPE Programs must include a certificate of completion, certificate of attendance, academic transcript, or firm transcript that includes:

• Name and contact information of the CPE program sponsor
• Participants name
• Title of the program
• NASBA Fields of Study for CPE Guide
• Date the program was completed
• Location of the program (if applicable)
• Type of instruction/delivery method
• Number of CPE credits completed
• Verification by the CPE program sponsor (signature, seal, or other similar indicia)

Documentation should not be submitted to the Board unless specifically requested.

Exception Options for Continuing Professional Education

Below is a list of exceptions that may be requested. These are limited circumstances and require board approval:

• Emergency Exemption: The Board may make exceptions from CPE requirements for CPA's who cannot continue their education for reasons of health or other good cause.
  • A written request justifying the exception must be sent to the Board at dora_accountancyboard@state.co.us. The request must be submitted before a certification is renewed.
• Military Exemption: A CPA requesting a military exemption to their licensing fees and CPE requirements may visit DPO’s Military License Renewal Information webpage for more information.
• Public Practice Exemption: The Board may make exceptions from CPE requirements for CPAs who do not engage in public practice.
  • A written request justifying the exception must be sent to the Board at dora_accountancyboard@state.co.us. The request must be submitted before a certification is renewed.
• Nonresident Exemption: A nonresident CPA applying to renew, reactivate, or reinstate their Colorado CPA certificate may satisfy the Board’s CPE requirements by submitting an attestation with their application stating they are compliant with the continuing education requirements of their certification issued in the state in which their principal place of business is located.
  • Documentation for this exception must include a copy of the out-of-state certification and verification of the principal place of business.

Information on Initial Requirements and Activities

Q: Can I use any of the activities I completed before my initial licensure for my CPE credit?

A: Yes. Based on Board Rule, a CPE course taken prior to certification (but within the reporting period) that complies with the Board's requirements may be eligible for CPE credit if it was not used to meet the education requirements for initial certification, reinstatement, or reactivation.

Information on Noncompliance Self-Reporting

Q: If I am not in compliance with CPE requirements, who can I contact?

A: If you are not in compliance with the CPE requirements, you can self-report to the Board using your DPO Online Services account. Online submission is the most efficient and effective way to ensure all necessary reporting information is submitted to the Board. You may also track your reporting or answer any follow-up questions the Board may have.

Once logged into your account, select the "Online Services" menu on the upper right-hand side of the page. Select "Self Report A Violation" option from the drop down options. On the following page, select the "File a Complaint" button to begin the process. You will effectively be filing a complaint against your own record in order to submit a self report.

Failure to comply with the CPE requirements may result in disciplinary action.

Information on Other State/Organization Requirements

Q: Can I use the CPE credits I completed for my DORA certification to meet the requirements of other organizations, agencies, or jurisdictions (states) and vice versa?

A: Possibly. The coursework must comply with the AICPA/NASBA Statement on Standards for CPE Programs. For example, if you are both a CPA and an attorney, you may use the same CPE to meet the Board's requirements and your CLE, if the coursework complies. If you are a CPA licensed in more than one state, you may use the same CPE to meet the Board's requirements and the other State Board's requirements if the coursework complies with the Standards. It is the responsibility of the CPA to determine the acceptability of any activities claimed for CPE for compliance with the Board Rules with the AICPA/NASBA Standards.

Please note that CPE accepted by other states, jurisdictions, and/or organizations does not guarantee automatic acceptance by the Colorado Board and CPE accepted by the Colorado Board does not guarantee acceptance by another state or licensing jurisdiction.