Husker fans have football season. Sneezers have allergy season. Outdoor enthusiasts get hunting and fishing seasons. What do CPAs get? CPE audit season.
Not quite as fun, we know. But important? You bet!
Every year, the Nebraska Board of Public Accountancy (NBPA) conducts a continuing professional education (CPE) audit. Will 2022 be the year you’re chosen? Thanks to the NBPA’s random selection process, you never know. Play it safe by understanding the process in case your number is called.
Who’s impacted?
Historically, the NBPA has audited 2% of Nebraska’s CPAs each year.
What is a CPE audit?
The CPE audit ensures CPAs are complying with continuing professional education rules. This, in turn, protects both the profession and the public it serves.
Why are CPE audits necessary?
It’s the NBPA’s way of ensuring CPAs stay abreast of the rules and regulations vital to their roles in firms and companies.
How are CPAs chosen for the CPE audit?
Each year a percentage of our active CPAs are selected at random. CPAs selected for a CPE audit receive a letter from the State Board via regular mail. They have until June 1 to submit the required material.
What do I need to submit to the State Board?
Certificates of completion for each CPE course taken during the audit period.
What are some common errors to avoid?
The most efficient way to comply with a CPE audit is by providing the correct documentation in a timely manner. However, mistakes happen. Here are some common errors to watch for:
- Reporting undocumented learning activities
- Reporting CPE credits in the wrong year
- Failing to retain appropriate documentation
- Submitting documentation that does not meet the State Board’s CPE requirements (i.e., certificates of completion, sign-in sheets, agendas)
What happens if I cannot provide appropriate documentation?
Failure to respond or provide appropriate CPE documentation is handled by the State Board’s enforcement committee.
Be prepared—always!
The scouts are on to something. Be ready for anything by always following CPE documentation best practices. Save all supporting CPE documentation for six years.
