As the fiscal landscape continues to evolve, CPAs find themselves in a constant pursuit of knowledge and skill enhancement. The Nebraska Board of Public Accountancy recognizes the importance of staying ahead in the realm of accounting, which is why compliance with Continuing Professional Education (CPE) requirements is imperative for all active permit holders.
Reporting & Documentation: Your Responsibilities
CPE credits must be earned within the calendar year 2023, completed by Dec. 31, 2023, and promptly reported to the State Board no later than Jan. 31, 2024. Adhering to these specific timelines is fundamental as it ensures strict compliance with Nebraska’s CPE requirements, safeguarding the professional standing of permit holders.
Every Jan. 31, permit holders are required to submit their participation in continuing education activities during the preceding calendar year. In the event that meeting this deadline proves challenging due to valid reasons, it is crucial to communicate your situation in writing to the Board before Jan. 31. Communication is key to maintaining the integrity of the certification process and upholding the standards of the profession.
The responsibility of documenting these requirements rests solely with the permit holder. Evidence supporting your fulfillment of these requirements must be retained for six years after completing the educational courses. Accepted forms of evidence include certificates of completion from course sponsors, signed attendance sheets, grade reports or transcripts from educational institutions, and signed statements of hours from instructors.
Understanding CPE Requirements: A Recap
To ensure the renewal of your Active Permit to Practice, you are required to complete 80 hours of CPE, including four hours dedicated to ethics, within the two calendar years preceding your renewal. These CPE hours must be earned by Dec. 31 of the year prior to renewal and reported to the State Board no later than Jan. 31 of your renewal year. For permits issued after July 1 of the year preceding expiration, CPE hours are pro-rated to a minimum of 40 hours, which is required for renewal. It’s important to note that the AICPA Professional Ethics Exam, while vital for certificate issuance, cannot be utilized for permit renewal ethics CPE credits.
Staying abreast of CPE requirements is not just a compliance matter but a commitment to excellence in the field of accountancy. By understanding and fulfilling these obligations, CPAs ensure their knowledge remains current and relevant, enabling them to provide high-quality financial services to their clients and uphold the standards of the profession. For additional guidance and resources, please visit the Nebraska Board of Public Accountancy at https://nbpa.nebraska.gov.
The Nebraska Board of Public Accountancy administers public accountancy law in Nebraska. If you have any questions or concerns regarding CPE requirements, do not hesitate to contact State Board Executive Director Dan Sweetwood at dan.sweetwood@nebraska.gov or Business Manager Heather Myers at heather.myers@nebraska.gov.
