Start Your Firm with Confidence - State by State

Whether you're forming your very first CPA firm or expanding into a new state, understanding the specific requirements where you plan to operate is essential. Select your state below to see a quick summary of entity formation steps, CPA firm licensing rules, and sales tax considerations - all with links to authoritative sources to guide you every step of the way.

Jump to Your State

Alabama

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Alabama, CPAs and accounting firms that perform certain attest services are required to participate in the state's Peer Review Program. This program is designed to ensure the quality of accounting and auditing services and to monitor compliance with applicable standards.

Who Is Required to Undergo Peer Review?

Any CPA firm or individual permit holder in Alabama that performs accounting and auditing engagements for the public - such as audits, reviews, compilations, forecasts, or projections - is required to undergo peer review. This includes individual CPAs who perform compilation services outside of a CPA or PA firm.

Frequency and Timing of Peer Reviews

Initial Peer Review: A new practice unit must undergo its first peer review within 18 months of issuing its first report.
Subsequent Reviews: After the initial review, peer reviews are required every three fiscal years. The Board must be notified each year for the subsequent three fiscal year period immediately following the fiscal year during which the review was conducted that a review has been completed.

Exemptions and Exceptions

Firms that do not perform any of the specified services for the public are exempt from peer review but must annually notify the Board of this status. If such a firm begins providing these services, it must undergo a peer review within 18 months of the date the services were first provided.

Enrollment and Administration

The Alabama Society of CPAs administers the peer review program through its division, Partners in Peer Review. Firms must enroll in the program and can manage their peer review information through the Peer Review Integrated Management Application (PRIMA) system.

Compliance and Enforcement

Firms are required to submit a copy of the peer review report acceptance letter from the administering entity along with their application for renewal of their permit. Failure to complete a required peer review or to submit the necessary documentation can result in disciplinary actions, including fines or revocation of the CPA certificate.

Alabama State Board of Public Accountancy - Peer Review Program

Alaska

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Alaska, CPAs and accounting firms that perform attest services are required to participate in a peer review program approved by the Alaska Board of Public Accountancy. This requirement ensures that firms maintain high standards of quality in their accounting and auditing practices.

Who Is Required to Undergo Peer Review?

Any CPA firm or individual permit holder in Alaska that performs accounting and auditing engagements for the public - such as audits, reviews, compilations, forecasts, or projections - is required to undergo peer review. This includes individual CPAs who perform compilation services outside of a CPA or PA firm.

Frequency and Timing of Peer Reviews

Initial Peer Review: A new practice unit must undergo its first peer review within 18 months of issuing its first report.
Subsequent Reviews: After the initial review, peer reviews are required every three fiscal years. The Board must be notified each year for the subsequent three fiscal year period immediately following the fiscal year during which the review was conducted that a review has been completed.

Exemptions and Exceptions

Enrollment and Administration

The Alaska Society of CPAs administers the peer review program through its division, Partners in Peer Review. Firms must enroll in the program and can manage their peer review information through the Peer Review Integrated Management Application (PRIMA) system.

Compliance and Enforcement

Arizona

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Arizona, CPAs and accounting firms that perform certain services are required to participate in a peer review program to ensure the quality and integrity of their work.

Who Is Required to Undergo Peer Review?

According to the Arizona Administrative Code (A.A.C.) R4-1-454(a), any CPA firm that performs attest services (such as audits and reviews) or compilation services must undergo and complete a peer review. This requirement applies to all firms offering these services, regardless of their size or structure.

Frequency and Timing of Peer Reviews

Initial Peer Review: A new firm must undergo its first peer review within 18 months of issuing its first attest or compilation report.
Subsequent Reviews: After the initial review, firms are typically required to undergo a peer review every three years, aligning with the standards set by the American Institute of Certified Public Accountants (AICPA).

Administration and Oversight

The Arizona State Board of Accountancy oversees the peer review process, ensuring compliance with established standards. Firms must allow their peer review documents to be accessible to the Board through the Facilitated State Board Access (FSBA) program, which streamlines the submission and review process.

Reporting Requirements

Firms are required to submit the following documents to the Board via the FSBA process:

Peer review report accepted by the sponsoring organization.
Firm's letter of response, if applicable.
Completion letter from the sponsoring organization.
Letters acknowledging the firm's agreement to take any required actions.
Letter from the sponsoring organization confirming the completion of required action, if applicable.

Exemptions

Firms that do not perform attest or compilation services may be exempt from the peer review requirement. However, they must submit a written statement to the board affirming that they have not performed such services in the preceding three years and agree to notify the Board within 90 days if they accept an engagement that would require a peer review.

Changes in Firm Structure

If a firm undergoes reorganization, renaming, or creates a new entity where at least one of the prior CPA owners remains involved, the new or reorganized firm remains subject to the peer review requirements. The sponsoring organization will determine which resultant firm is considered the succeeding firm, which will retain the peer review status and due date.

Arizona State Board of Accountancy

Arkansas

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Arkansas, CPAs and CPA firms that perform attest services are required to participate in a peer review program approved by the Arkansas State Board of Public Accountancy (ASBPA). This requirement ensures that firms maintain high standards of quality in their accounting and auditing practices.

Who Is Required to Undergo Peer Review?

According to Arkansas Code section 17-12-508, any CPA firm or individual licensee that performs attest services - such as audits, reviews, or examinations - must enroll in a Board-approved peer review program. This requirement became effective on January 1, 2019.

Firms that only perform compilation or preparation engagements as their highest level of service are not required to undergo peer review. However, if such a firm voluntarily enrolls in a peer review program, the review must encompass these services.

Frequency and Timing of Peer Reviews

Initial Peer Review: A new practice unit must undergo its first peer review within 18 months of issuing its first report.
Subsequent Reviews: After the initial review, peer reviews are required every three fiscal years. The Board must be notified each year for the subsequent three fiscal year period immediately following the fiscal year during which the review was conducted that a review has been completed.

Administration and Oversight

The ASBPA oversees the peer review process, ensuring compliance with established standards. Firms must allow their peer review documents to be accessible to the Board through the Facilitated State Board Access (FSBA) program, which streamlines the submission and review process.

Reporting Requirements

Firms are required to submit the following documents to the Board via the FSBA process:

Peer review report accepted by the sponsoring organization.
Firm's letter of response, if applicable.
Acceptance letter from the sponsoring organization.
Letters acknowledging the firm's agreement to take any required actions.
Letter from the sponsoring organization confirming the completion of required actions, if applicable.

Exemptions

Firms that do not perform attest or compilation services may be exempt from the peer review requirement. However, they must submit a written statement to the Board affirming that they have not performed such services in the preceding three years and agree to notify the Board within 90 days if they accept an engagement that would require a peer review.

Changes in Firm Structure

Arkansas Department of Labor and Licensing

California

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In California, CPAs must complete 80 hours of CPE every two years to maintain an active license. The license renewal date is the last day of the licensee's birth month in an odd- or even-numbered year, corresponding to the year of birth.

Core CPE Requirements

Total Hours: 80 hours in the two-year period immediately preceding license expiration.
Annual Minimum: At least 20 hours each year, including a minimum of 12 hours in technical subjects.
Technical Subjects: At least 40 hours must be in technical subject areas such as accounting, auditing, taxation, consulting, financial planning, ethics, regulatory review, computer and information technology (excluding word processing), and specialized industry or government practices.
Ethics: 4 hours of ethics education every two years. Courses must be at least one hour in length and can cover topics like professional responsibilities, ethical dilemmas, or business ethics.
Regulatory Review: A 2-hour Board-approved Regulatory Review course is required every six years. For licensees issued on or after July 1, 2024, this course must be completed before the first license expiration date.

Subject-Specific Requirements

Accounting & Auditing (A&A): If you engage in audits, reviews, compilations, or attest services, you must complete 24 hours in A&A subjects.
Government Auditing: If you conduct audits of governmental agencies, 24 hours in governmental accounting, auditing, or related subjects are required.
Preparation Engagements: If your highest level of service is preparation engagements, 8 hours in preparation engagement or A&A subjects are required.
Fraud: If subject to A&A, Government, or Preparation Engagement CPE requirements, an additional 4 hours in fraud-related subjects are required.

Acceptable CPE Formats

Self-Study: Permitted for all 80 hours, provided courses are interactive and meet Board standards.
Instruction: Credit for teaching is limited to 50% of the total CPE hours.
Non-Technical Subjects: Limited to 50% (40 hours) of the total CPE hours.

New Licensees

For first-time renewals, new licensees must complete 20 hours of CPE for each full six-month period from the license issuance date to the first expiration date. Additionally, those licensed on or after July 1, 2024, must complete the 2-hour Regulatory Review course before their first license expiration date.

Continuing Education Quick Reference Guide

Peer Review

Colorado

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Colorado, CPAs and accounting firms that perform certain attest services are required to participate in a peer review program. This requirement ensures that firms maintain high standards of quality in their accounting and auditing practices.

Who Is Required to Undergo Peer Review?

Any CPA firm or individual licensee in Colorado that performs attest services - such as audits, reviews, or examinations - is required to enroll in a Board-approved peer review program. This includes services performed under the Statements on Auditing Standards (SASs), Statements on Standards for Accounting and Review Services (SSARS), and Statements on Standards for Attestation Engagements (SSAEs).

Frequency and Timing of Peer Reviews

Initial Peer Review: A new practice unit must undergo its first peer review within 18 months of issuing its first report.
Subsequent Reviews: After the initial review, peer reviews are required every three years.

Administration and Oversight

The Colorado State Board of Accountancy oversees the peer review process, ensuring compliance with established standards. Firms must allow their peer review documents to be accessible to the Board through the Facilitated State Board Access (FSBA) program, which streamlines the submission and review process.

Reporting Requirements

Firms are required to submit the following documents to the Board via the FSBA process:

Peer review report accepted by the sponsoring organization.
Firm's letter of response, if applicable.
Acceptance letter from the sponsoring organization.
Letters acknowledging the firm's agreement to take any required actions.
Letter from the sponsoring organization confirming the completion of required actions, if applicable.

Exemptions

Firms that do not perform attest services may be exempt from the peer review requirement. However, they must submit a written statement to the Board affirming that they have not performed such services in the preceding three years and agree to notify the Board within 90 days if they accept an engagement that would require a peer review.

Changes in Firm Structure

Colorado State Board of Accountancy's Peer Review Program

Connecticut

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Connecticut, CPAs and CPA firms are subject to peer review requirements administered by the Connecticut State Board of Accountancy (SBOA). These requirements are designed to ensure compliance with professional standards and to maintain the quality of accounting and auditing services provided within the state.

Who Is Required to Undergo Peer Review?

Under Connecticut General Statutes Section 20-281, any CPA firm that performs audits, reviews, compilations, or examinations of prospective financial statements must undergo a peer review as a condition of renewing its firm permit. This applies to all firms engaged in financial reporting areas of practice.

Timing and Frequency

Initial Peer Review: Firms must undergo their first peer review within 18 months of enrolling in the peer review program.
Subsequent Reviews: After the initial review, firms are required to undergo peer reviews every three years.

Reporting Requirements

Firms subject to peer review must submit the following to the SBOA:

A copy of the peer review report.
A copy of the acceptance letter from an authorized review body.

These documents must be filed within 30 days of acceptance by the review body. Failure to provide the peer review report to the SBOA could result in disciplinary and enforcement proceedings.

Waiver Eligibility

Firms that do not perform audits, reviews, or compilations may be eligible for a waiver from the peer review requirement. To request a waiver, firms must:

Submit a completed Quality Review Waiver Form annually.
Certify that they have not performed and do not intend to perform financial reporting services during the current and upcoming year.
Agree to notify the SBOA immediately if they begin performing such services.

Administration and Oversight

The Connecticut Society of Certified Public Accountants (CTCPA) administers the peer review program in the state, operating under the standards established by the American Institute of Certified Public Accountants (AICPA). Firms can access resources, forms, and additional information through the CTCPA's Peer Review Page.

CTCPA's Peer Review Page

Delaware

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Delaware, CPAs and PAs are subject to peer review requirements if they or their firms provide certain attest or compilation services. These requirements are established by the Delaware Board of Accountancy to ensure adherence to professional standards and to maintain the quality of accounting and auditing services within the state.

Who Is Required to Undergo Peer Review?

The following entities must enroll in the Board-approved peer review program:

CPA and PA Firms: Any firm that performs attest (e.g., audits, reviews) and/or compilation services.
Individual CPA Permit Holders: CPAs who issue compilation reports to the public outside of a CPA or PA firm structure.

Firms that solely perform preparation services under the Statements on Standards for Accounting and Review Services (SSARS) are exempt from mandatory peer review. However, if such a firm voluntarily enrolls in a peer review program, it must comply with all program requirements.

Timing and Frequency

Initial Peer Review: Must be completed within 18 months from the date of enrollment in a Board-approved peer review program.
Subsequent Reviews: Required every three years, with all peer review materials submitted to the sponsoring organization within 3 years and 6 months from the peer review year-end of the previous review.

Reporting Requirements

Firms must authorize their sponsoring organization to provide the Board with access to peer review documents via a secure platform, such as the AICPA's Facilitated State Board Access (FSBA) system. The following documents must be submitted within 30 days of acceptance by the sponsoring organization:

Peer review report.
Firm's letter of response, if applicable.
Acceptance letter from the sponsoring organization.
Letters acknowledging the firm's agreement to take any required actions.
Letter from the sponsoring organization confirming the completion of required actions, if applicable.

Approved Peer Review Programs

The Delaware Board of Accountancy recognizes the following as approved peer review programs:

American Institute of Certified Public Accountants (AICPA) Peer Review Program, administered by the Pennsylvania Institute of Certified Public Accountants (PICPA).

Other peer review programs may be approved by the Board upon submission and evaluation of their standards and procedures.

Delaware Board of Accountancy's Peer Review Program Information

Florida

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Florida, CPAs must complete 80 hours of CPE every two years to maintain an active license. The CPE reporting period runs from July 1 to June 30 of odd-numbered years, with license renewals due by December 31 of those years.

Core CPE Requirements

Total Hours: 80 hours biennially.
Subject Area Minimums:
- 8 hours in accounting and auditing.
- 4 hours in Florida Board-approved ethics course.
- No more than 20 hours in behavioral subjects.

New Licensees

For newly licensed CPAs, the first CPE reporting period ends on the third June 30th following the license issuance date. For example, if licensed on December 1, 2022, the first reporting period ends on June 30, 2025.

Acceptable CPE Formats and Credit Limitations

Self-Study: Courses must be from sponsors approved by NASBA's Quality Assurance Service (QAS) program.
Group Study: Includes live presentations and group internet courses with real-time instructor interaction.
Credit Increments: CPE credit is accepted in increments of not less than one-half hour.

Documentation and Reporting

Record Retention: CPAs must retain documentation of their CPE activities for at least five years following the end of the reporting period.
Reporting: Licensees are required to report their CPE hours and upload certificates of completion to the Department of Business and Professional Regulation (DBPR) Online Services Portal by the end of their reporting period.

Extensions and Penalties

If a CPA fails to meet the CPE requirements by June 30, automatic extensions are available:

First Extension: Until September 15, with an additional 8 hours in accounting and auditing, totaling 88 CPE hours.
Second Extension: Until December 31, with an additional 16 hours in accounting and auditing, totaling 96 CPE hours.

Failure to meet the renewal requirements by December 31 results in the license reverting to delinquent status effective January 1 of the following year.

Florida Department of Business and Professional Regulation

Peer Review

In Florida, CPA firms are required to participate in a peer review program if they perform certain attest services. This requirement aims to ensure that firms maintain high standards of quality in their accounting and auditing practices.

Who Must Undergo Peer Review?

Effective January 1, 2015, any licensed CPA firm in Florida that performs audits or other attest services as defined in Section 473.302(8)(a) of the Florida Statutes must enroll in a Board-approved peer review program. This includes services such as audits, examinations, and agreed-upon procedures.

Firms that exclusively perform compilations and reviews are exempt from the state-mandated peer review requirement. However, if such firms are members of the American Institute of Certified Public Accountants (AICPA), they are still required to undergo peer review in accordance with AICPA membership obligations.

Timing and Frequency

Initial Peer Review: Firms must complete their first peer review within 18 month of enrolling in a peer review program.
Subsequent Reviews: After the initial review, peer reviews are required every three years.

Administration and Oversight

The Florida Institute of Certified Public Accountants (FICPA) administers the AICPA Peer Review Program within the state. This program is designed to be educational, helping firms enhance the quality of their accounting and auditing work. The FICPA Peer Review Committee oversees the administration to ensure compliance with all AICPA program requirements.

Reporting Requirements

Firms are not required to submit their peer review reports directly to the Florida Board of Accountancy. However, if a firm practices in other states that require submission, they can elect to have their peer review results submitted to those states via the AICPA's Facilitated State Board Access (FSBA) system.

Additional Considerations

Firms Performing Only Tax and Consulting Services: Firms that provide only tax and consulting services are not subject to the peer review requirement under Florida law.
Out-of-State Firms: Firms from other states that perform attest services in Florida must comply with Florida's peer review requirements, including enrollment in a Board-approved peer review program.

Florida Department of Business and Professional Regulation

Florida Institute of Certified Public Accountants

Georgia

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

As of January 1, 2024, the Georgia State Board of Accountancy has implemented updated CPE requirements for CPAs. These changes aim to ensure that CPAs maintain and enhance their professional competence.

Core CPE Requirements

Total Hours: CPAs must complete 80 hours of CPE every two years.
Annual Minimum: At least 20 hours must be earned each calendar year.
Technical Subjects: A minimum of 50% (i.e., 40 hours) of the total CPE must be in technical fields of study. These include areas such as accounting, auditing, taxation, business law, economics, finance, information technology, and regulatory ethics.
Ethics: CPAs are required to complete 4 hours of ethics education during each two-year reporting period. This must include 1 hour specifically covering the laws, rules, and policies of the Georgia State Board of Accountancy.

Key Changes

Removal of A&A Requirement: The previous mandate for 16 hours in accounting and auditing has been eliminated.
Georgia-Specific Ethics: The Board has approved specific courses to fulfill the 1-hour Georgia-specific ethics requirement. A list of these approved providers is available on the Board's website.

Additional Guidelines

New Licensees:
- If licensed less than one year before the renewal date, no CPE is required for that period.
- If licensed at least one year but less than two years before the renewal date, 40 hours of CPE are required, including 4 hours of ethics (with 1 hour Georgia-specific).
Carryover Credits: Up to 15 hours of non-technical CPE earned in excess during one reporting period may be carried over to the next. However, carryover credit cannot be applied to the technical or ethics requirements.
Record Retention: CPAs must retain documentation of their CPE activities for at least five years. This includes details such as course titles, providers, dates, and evidence of completion.
Exemptions: CPAs who have reached the age of 70 are exempt from CPE requirements.

Georgia State Board of Accountancy's CPE Requirements

Peer Review

In Georgia, CPA firms that perform attest or compilation services are required to undergo a peer review to ensure adherence to professional standards. This process is overseen by the Georgia State Board of Accountancy and administered by approved organizations such as the Georgia Society of CPAs (GSCPA).

Who Must Undergo Peer Review?

Firms that have issued attest or compilation reports within the 24 months preceding their license expiration must submit evidence of satisfactory completion of a Board-approved peer review. The peer review must have been completed within the 36 months prior to the firm's registration expiration. Firms that have not issued such reports during this period must provide written confirmation of this fact with their renewal application.

Timing and Frequency

Initial Peer Review: Newly licensed firms are exempt from the peer review requirement for the first two years.
Subsequent Reviews: Firms must undergo a peer review every three years, ensuring the review is completed within 36 months preceding the firm's license expiration.

Reporting Requirements

Firms subject to peer review must submit the following with their license renewal application.

Evidence of satisfactory completion of a Board-approved peer review, including the peer review report and acceptance letter.
Confirmation that all remedial or corrective actions, if any, have been completed and are acceptable.

If a firm fails to comply with these requirements, the Board may deny renewal, waive the peer review requirements, renew with a limited license, or renew with conditions.

Administration and Oversight

The Georgia Society of CPAs (GSCPA) administers the AICPA's Peer Review Program for firms in Georgia. The Board adopts the "Standards for Performing and Reporting on Peer Review" promulgated by the AICPA as its minimum standards for an approved peer review.

The Board may appoint a Peer Review Oversight Committee to assist in the implementation and administration of peer review requirements.

Exceptions

Firms licensed for two years or less at the time of license renewal are exempt from submitting evidence of peer review completion. Additionally, the Board may waive or modify the peer review requirement in cases of hardship, upon receiving a written request detailing the reasons for the exemption.

Georgia State Board of Accountancy's Peer Review Requirements

GSCPA Peer Review

Hawaii

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Hawaii, CPAs are required to complete CPE to maintain their license and, if applicable, their Permit to Practice (PTP). The specific requirements differ based on whether a CPA holds a PTP.

CPE Requirements for CPAs with a Permit to Practice (PTP)

CPAs who actively practice public accountancy in Hawaii must obtain a PTP and fulfill the following CPE requirements:

Total Hours: 80 hours of CPE every two years.
Ethics: At least 4 hours must be in ethics or professional conduct.
Annual Minimum: A minimum of 20 CPE hours must be earned each calendar year.
Reporting Period: January 1 to December 31 of each odd-numbered year.
Carryover: Up to 40 hours of excess CPE can be carried forward to the next biennium. However, excess ethics hours cannot be applied to future ethics requirements.

CPE Requirements for CPAs without a Permit to Practice

CPAs who do not hold a PTP and are not engaged in public accountancy are still required to complete:

Ethics: At least 4 hours of CPE in ethics or professional conduct every two years.

Initial Permit to Practice

For CPAs applying for their first PTP:

If the application is submitted within two years of passing the Uniform CPA Examination, the CPA may claim 80 CPE hours.
If the application is submitted within three years, 40 CPE hours may be claimed.
Regardless of the above, 4 hours in ethics or professional conduct are mandatory.

Acceptable CPE Activities

CPE credits can be earned through various activities, including:

Attending group programs, seminars, or workshops.
Completing self-study courses.
Authoring published articles or books (up to 20 CPE hours per biennium).
Teaching qualifying courses (credit is given for presentation time only).

Documentation and Audit

CPAs must retain documentation of their CPE activities for at least two renewal periods.
While supporting documents are not required at the time of renewal, they must be provided if selected for audit.

Hawaii Board of Public Accountancy

Peer Review

In Hawaii, the CPA firms that perform attest engagements are required to undergo a peer review every three years. This requirement ensures that firms maintain high standards of quality in their accounting and auditing practices.

Who Must Undergo Peer Review?

Any CPA firm that holds a Hawaii Firm Permit to Practice and performs attest services - such as audits, reviews, compilations, or examinations of prospective financial information - is subject to mandatory peer review. This includes Hawaii offices of out-of-state or multi-state firms. Firms that do not perform attest work are exempt from this requirement.

Timing and Frequency

Initial Peer Review: Firms must complete their first peer review within 18 months of performing their initial Hawaii attest engagement.
Subsequent Reviews: Peer reviews are required every three years.

Reporting Requirements

Upon completion of a peer review, firms must submit the following to the Hawaii Board of Public Accountancy within 30 calendar days:

A completed Peer Review Compliance Reporting Form (Form CPA-PR4).
A copy of the peer review report and the final letter of acceptance from the sponsoring organization.
If applicable, the firm's letter of response and any corrective action documents.

If the peer review does not include Hawaii offices or engagements, a Hawaii Supplement must be completed to ensure local compliance.

Approved Sponsoring Organizations

The following organizations are approved to administer peer review programs for Hawaii CPA firms:

American Institute of Certified Public Accountants (AICPA) Peer Review Program.
Oregon Society of CPAs (OSCPA), which took over administration from the Hawaii Society of CPAs (HSCPA) effective March 31, 2018.

Additional Considerations

Out-of-State Firms: Firms licensed in other states that perform Hawaii attest work must comply with Hawaii's peer review requirements.
Public Company Audits: Firms subject to Public Company Accounting Oversight Board (PCAOB) inspections must also undergo a peer review for their non-public company Hawaii attest work.
Extensions: Firms may request an extension for completing their peer review by submitting a written request to the Board within 20 days of the extension being granted by the sponsoring organization.

Hawaii Board of Public Accountancy

Idaho

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Idaho, CPA firms that perform certain accounting and auditing services are required to participate in a peer review program to ensure compliance with professional standards. Below is an overview of the peer review requirements as stipulated by the Idaho State Board of Accountancy.

Who Must Undergo Peer Review?

Firms that issue reports on accounting and auditing engagements, including audits, reviews, compilations, prospective financial information, and engagements performed in accordance with the PCAOB or the Statements on Standards for Attestation Engagements (SSAEs), are required to undergo peer review. Additionally, licensees who issue compilation reports through any form of business other than a firm must participate in the peer review program and meet registration requirements.

Timing and Frequency

Initial Peer Review: New firms must enroll with an approved administering organization within one year of registration with the Board.
Subsequent Reviews: Firms are required to undergo peer review at least once every three years, commensurate with the scope of their practice.
Review Scheduling: Firms must adopt the review date assigned by the administering organization and notify the Board of such date.

Reporting Requirements

Firm Registration: All firms performing peer-reviewable services must file a firm registration form annually by September 30. Late filings are subject to penalties.
Peer Review Documentation: Firms must submit the peer review report, letter of comments (if any), letter of response (if any), and the letter accepting the review report issued by the administering organization within 30 days after receipt. Additionally, firms must notify the Board within 30 days if a grade of "fail" is recommended.

Document Retention

Firms are required to retain all documentation necessary to establish that each peer review was performed in conformity with the standards adopted by the Board. This includes peer review working papers, reports, comment letters, and related correspondence. The retention period must align with the administering organization's designated period but not be less than 90 days from the date of acceptance of the review.

Administering Organizations

Peer reviews must be conducted in accordance with the Standards for Performing and Reporting on Peer Reviews as established by the AICPA. The Nevada Society of CPAs administers the Peer Review Program for enrolled Idaho firms.

Division of Occupational and Professional Licenses

Illinois

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Illinois, CPA firms and sole practitioners that perform certain attest services are required to undergo a peer review to maintain their licensure. This process ensures adherence to professional standards and promotes quality in the accounting profession.

Who Must Undergo Peer Review?

According to the Illinois Public Accounting Act, any CPA firm or sole practitioner that performs audits, reviews of historical financial statements, or examinations of prospective financial statements must enroll in an approved peer review program and satisfactorily complete a peer review. This requirement applies to both in-state and out-of-state firms practicing in Illinois.

Timing and Frequency

Initial Peer Review: Firms must complete their first peer review within 18 months of the end of the period covered by their initial engagement requiring a peer review.
Subsequent Reviews: Peer reviews are required every three years. Satisfactory completion of a peer review during the immediately preceding three-year period is a condition for license renewal.

Reporting and Documentation

Firms are responsible for maintaining documentation of their peer reviews and must provide evidence of satisfactory completion when renewing their license. This includes submitting the peer review report and acceptance letter from the administering entity.

Administering Organizations

The Illinois CPA Society administers peer reviews through the Peer Review Alliance, which oversees reviews for firms in Illinois and several other states. Firms may also have their peer reviews administered by other entities approved by the AICPA.

Additional Considerations

AICPA Memberships: Firms that are members of the AICPA and perform any accounting or auditing engagements, including compilations and agreed-upon procedures, are subject to the AICPA's peer review requirements.
Public Access: While peer review results are generally confidential, firms may choose to make their peer review reports publicly available through the AICPA's public file.

Illinois Department of Financial and Professional Regulation's Public Accounting

Indiana

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Indiana, CPAs are required to complete CPE to maintain an active license. The Indiana Board of Accountancy oversees these requirements to ensure CPAs remain competent in their professional duties.

General CPE Requirements

Total Hours: CPAs must complete 120 hours of CPE over a three-year reporting period.
Annual Minimum: At least 20 hours must be completed each calendar year.
Accounting & Auditing (A&A): A minimum of 12 hours in A&A subjects is required during the three-year period.
Ethics: At least 4 hours in ethics are required during the three-year period. This can be fulfilled through:
- A traditional ethics course.
- A competency-based ethics course.
- Non-compensated experience with a professional or trade organization that augments the CPA's knowledge and skill in providing accounting services.
Self-Study Limit: No more than 50% (i.e. 60 hours) of the required 120 hours can be obtained through self-study programs.

Reporting Period and Deadlines

Reporting Period: January 1 to December 31, triennially. For example, the current reporting period is January 1, 2024, to December 31, 2026.
License Renewal: CPA licenses expire on June 30 of the year following the end of the reporting period. For instance, for the 2024-2026 reporting period, licenses must be renewed on June 30, 2027.

Pro-Rated CPE for New Licensees

If a CPA license is issued during a reporting period, the required CPE hours are prorated based on the issuance date. For example:

Issued January 1 - March 31 (1st year): 120 hours required; minimum 20 hours in year of issuance.
Issued April 1 - June 30 (1st year): 110 hours required; minimum 15 hours in year of issuance.
Issued July 1 - September 30 (1st year): 100 hours required; minimum 10 hours in year of issuance.
Issued October 1 - December 31 (1st year): 90 hours required; no minimum hours in year of issuance.

Note: Ethics hours are not prorated and must be completed in full.

Documentation and Audits

Record Retention: CPAs must retain CPE documentation, including certificates of completion, for at least three years after the end of the reporting period.
Audits: The Indiana Board of Accountancy conducts random audits of license renewals. If selected, CPAs must provide certificates of completion for all CPE activities.

Inactive or Retired Status

CPAs may choose to place their license in an "Inactive" or "Retired" status, which exempts them from CPE requirements. However, they cannot practice public accounting or use the CPA designation unless it's immediately followed by "Inactive" or "Retired". To reactivate the license, CPAs must complete the required CPE hours for the current reporting period.

Indiana Board of Accountancy

Peer Review

Iowa

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Iowa, CPAs are required to complete CPE to maintain an active license. The Iowa Accountancy Examining Board (IAEB) oversees these requirements, ensuring CPAs remain competent in their professional duties.

General CPE Requirements

Total Hours: CPAs must complete 120 hours of CPE over a three-year period.
Ethics: At least 4 hours must be in ethics and rules of professional conduct.
Financial Statement Presentation: CPAs responsible for supervising compilation services or signing compilation reports must complete a minimum of 8 hours in financial statements presentation, such as courses covering Statements on Standards for Accounting and Review Services (SSARS) and accounting and auditing updates.
Non-Technical Subjects: A maximum of 60 hours can be in non-technical subjects, including communication, marketing, and personal development.
Self-Study Limit: No more than 50% (i.e., 60 hours) of the required 120 hours can be obtained through self-study programs.

Reporting Period and Deadlines

Reporting Period: CPAs may choose a three-year period ending either on June 30 or December 31 preceding the annual renewal date of July 1. This selection can vary with each renewal cycle.
License Renewal: CPA licenses expire annually on June 30. A 30-day grace period is provided, during which renewals can be submitted with a penalty.

New Licensees

For new CPAs, CPE requirements are phased in:

First Renewal (less than 12 months since licensure): No CPE required.
Second Renewal (12-24 months since licensure): 40 hours of CPE required.
Third Renewal (24-36 months since licensure): 80 hours of CPE required.
Subsequent Renewals: Full 120-hour requirement applies.

Ethics and financial statement presentation requirements apply proportionally during the phase-in period.

Documentation and Audits

Record Retention: CPAs must retain documentation of their CPE activities for at least three years after the end of the reporting period.
Audit Process: The IAEB conducts random audits of license renewals. If selected, CPAs must provide certificates of completion and other supporting documentation for all CPE activities.

Inactive or Retired Status

Iowa Society of CPAs

Peer Review

Kansas

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Kansas, CPAs must fulfill specific CPE requirements to maintain an active permit to practice. These requirements are established by the Kansas Board of Accountancy (KSBOA) and are outlined in the Kansas Administrative Regulations (K.A.R.) 74-4-7 and 74-4-8.

General CPE Requirements

Total Hours: CPAs must complete 80 hours of CPE every two years.
Ethics Requirement: At least 2 hours must be in professional ethics directly related to the practice of certified public accountancy.
Reporting Period: The CPE reporting period spans July 1 to June 30 biennially, with renewal years based on the CPA's certificate number:
- Even-numbered certificates renew in even-numbered years.
- Odd-numbered certificates renew in odd-numbered years.
Carryover: A maximum of 20 hours earned in excess of the 80-hour requirement may be carried forward to the next reporting period. However, excess ethics hours cannot be used to satisfy the ethics requirement in the subsequent period.

Subject Area and Credit Limitations

Personal Development: Courses in personal development (e.g., communication, leadership) are limited to 30% of the total CPE hours per reporting period.
Instruction and Preparation: Credit for instructing or preparing courses is limited to 50% of the total required hours. Preparation time is credited at a maximum of two times the presentation time.
Self-Study Programs: self-study courses must be from sponsors approved by NASBA's National Registry, the AICPA, or a state society. These programs must include a final examination with a passing score of at least 70%.

New Licensees and Reinstatements

Pro-Rated Requirements: For initial or reinstated permits, the CPE requirement is pro-rated based on the number of full months from the date of issuance to the next June 30 renewal date.

Documentation and Audits

Record Retention: CPAs must retain documentation of CPE activities for five years from the end of the year in which the CPE was completed.
Audit Process: The KSBOA may conduct audits to verify compliance. CPAs selected for audit must provide proof of completion for all claimed CPE hours.

Kansas Board of Accountancy

Peer Review

Kentucky

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Kentucky, CPAs must fulfill CPE requirements biennially to maintain licensure. The specific requirements depend on the nature of the CPA's work and hours logged in public accounting.

General CPE Requirements

Total Hours:
- 80 hours over two years for CPAs who worked 3,000 hours or more in a public accounting firm during the reporting period.
- 60 hours over two years for all other CPAs.
Ethics: A minimum of 2 hours in professional ethics is required for all licensees within each reporting period.
Technical Standards: At least 50% of the required CPE hours must be in technical subjects, such as accounting, auditing, business law, economics, finance, information technology, management services, professional ethics, statistics, securities, tax, or specialized industry areas that contribute directly to professional competence.
Personal Development:
- CPAs with an 80-hour requirement may include up to 8 hours of personal development courses.
- CPAs with a 60-hour requirement may include up to 12 hours of personal development courses.
- Acceptable personal development topics include time management, leadership, team building, goal setting, and similar soft skills related to professional settings.

Additional Requirements for Certain Services

CPAs who perform:

Attest services (as defined in KRS 325.220), or
Compilation or preparation of financial statement engagements subject to the AICPA's Statements on Standards for Accounting and Review Services (SSARS),

must complete 8 hours of CPE in accounting or auditing each year, totaling 16 hours over the two-year reporting period.

Reporting Period and Renewal Deadlines

Reporting Period: January 1 to December 31 of the two years preceding the renewal year.
License Renewal:
- CPAs with odd-numbered licenses renew by August 1 in odd-numbered years.
- CPAs with even-numbered licenses renew by August 1 in even-numbered years.

Documentation and Audits

Record Retention: CPAs must retain documentation of completed CPE activities for 5 years.
Audit Process: The Kentucky State Board of Accountancy conducts annual audits to verify compliance. CPAs selected for audit must provide evidence of CPE completion, including course titles, dates, and number of hours earned.

Reciprocity and Waivers

Out-of-State Licensees: CPAs whose principal place of business is in another state may satisfy Kentucky's CPE requirements by meeting the CPE requirements of their home state. If the home state has no CPE requirements, the CPA must comply with Kentucky's CPE requirements.
Waivers: CPAs may request a waiver from CPE requirements due to:
- Physical or psychological inability to complete CPE (with documentation from a licensed physician).
- Severe personal hardship.
- Complete retirement from public practice and being 55 years or older.

Waiver requests must be submitted using the appropriate form and approved by the Board.

Kentucky State Board of Accountancy

Peer Review

Louisiana

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Louisiana, CPAs are required to complete CPE to maintain their active license. The State Board of Certified Public Accountants of Louisiana (LCPA) sets these requirements to ensure CPAs remain current with professional standards and practices.

General CPE Requirements

Annual Minimum: CPAs must complete at least 20 hours of CPE each calendar year.
Rolling Two-Year Total: Over any rolling two-year period, CPAs must accumulate a minimum of 80 hours of CPE. This means that the combined total of CPE hours for the current and immediately preceding year must be at least 80 hours.
Ethics Requirement: For the year 20224, CPAs are required to complete a 3-hour board-approved professional ethics course. Only courses pre-approved by the Board fulfill this requirement; general ethics courses do not qualify.

Subject Area Requirements

Accounting & Auditing (A&A): CPAs who participate in attest engagements (e.g., audits, reviews, compilations, agreed-upon procedures) during the calendar year must complete at least 8 hours of CPE in A&A subjects annually. Participation includes roles responsible for performing substantial portions of the procedures or for planning, directing, or reporting on attest engagements.
Personal Development: CPE credits in personal development subjects (e.g., communication, leadership) are limited to 20 hours per calendar year.
Instruction and Presentation: CPAs can earn CPE credit for teaching or presenting, with a maximum of 20 hours per calendar year. Credit is granted for the first presentation only, unless the material has been substantially revised.
Published Materials: Writing published articles, books, or CPE programs can earn CPE credit, limited to 10 hours per calendar year. Credit is awarded only after publication and must contribute to the CPA's professional competence.
Credentialing Exams: Successful completion of board-approved credentialing exams may earn CPE credit, calculated at five times the length of the exam. The maximum credit allowed is 20 hours per calendar year.

Reporting and Deadlines

CPE Completion Deadline: All required CPE must be completed by December 31 of each year.
CPE Reporting Deadline: CPAs must report their CPE hours to the Board by January 31 of the following year. Reporting is done electronically through the Board's Online Portal.

New Licensees

Licensed in 2024: No CPE is required for the year 2024.
Licensed in 2023: A minimum of 20 hours of CPE must be completed and reported for the year 2024.
Licensed Prior to 2023: Must complete at least 20 hours of CPE in 2024 and ensure that the combined total of CPE hours for 2023 and 2024 is at least 80 hours.

Recordkeeping

Retention Period: CPAs must retain documentation of their CPE activities, including certificates of completion and course details, for a minimum of five years from the end of the calendar year in which the CPE was completed.

Exemptions and Status Changes

Inactive or Retired Status: CPAs who are no longer practicing and wish to apply for "Inactive" or "Retired" status may be exempt from CPE requirements. To qualify for "Retired" status, a CPA must be at least 55 years old, have held an active license for at least 20 consecutive years, and no longer be associated with a CPA firm. Applications for status changes can be submitted through the Board's Application Portal.

State Board of CPAs of Louisiana

Peer Review

Maine

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Maine, CPAs are required to complete CPE to maintain their active licensure. The Maine Board of Accountancy outlines specific requirements regarding the number of hours, subject areas, and reporting periods.

General CPE Requirements

Annual Requirement: CPAs must complete 40 hours of CPE each year. The reporting period runs from October 1 to September 30, aligning with the annual license renewal deadline of September 30.
Ethics Requirement: A minimum of 4 hours in professional ethics is required every three years. Acceptable ethics courses may include studies of Maine's accountancy laws and rules, the AICPA Code of Professional Conduct, or equivalent standards.

Subject Area Limitations

While CPAs have flexibility in choosing CPE subjects, certain limitations apply:

Non-Technical Subjects: No more than 50% of the required hours over a three-year period can be non-technical subjects, including:
- Communication arts
- Mathematics, statistics, probability, and quantitative applications in business
- Economics
- Business, securities, and administrative law
- Human resources policies
- Computer software applications
Instruction and Authorship:
- Instruction: Credit for teaching is granted at a rate of 3 hours for each hour of presentation, limited to 50% of the total required hours. Repeat presentations of the same material do not qualify unless substantially revised.
- Authorship: Writing published articles or books may earn CPE credit, also limited to 50% of the total required hours.

Carryover Policy

If a CPA earns more than the required 40 hours in a year, up to 20 hours may be carried over to the next reporting period. However, excess ethics hours cannot be applied to future ethics requirements.

New Licensees

For individuals obtaining their initial CPA license:

If licensed between August 1 and March 31, a minimum of 20 hours of CPE is required for the first renewal cycle.
If licensed between April 1 and July 31, no CPE is required for the first renewal.

Recordkeeping and Compliance

Documentation: CPAs must retain records of completed CPE activities, including certificates of completion, for a minimum of three years.
Verification: The Board may audit CPE records to ensure compliance. Failure to provide adequate documentation can result in disciplinary action.

Maine Board of Accountancy

Peer Review

In Maine, CPA firms that perform attest services - such as audits, reviews, and agreed-upon procedures - are mandated to participate in an approved peer review program. This requirement ensures that firms maintain high standards of quality and professionalism in their services.

Applicability of Peer Review

Firms providing attest services other than compilations must:

Enroll in a Board-Approved Program: Participation in a peer review program approved by the Maine Board of Accountancy is mandatory.
Initial Review: Complete a peer review within 18 months after the initial granting of the firm's license.
Subsequent Reviews: Undergo a peer review every three years thereafter, as long as the firm continues to provide attest services other than compilations.

Firms that do not provide attest services other than compilations are exempt from this requirement but must annually confirm in writing to the Board that they do not offer such services. If a firm begins providing attest services other than compilations, it must undergo a peer review within 18 months after the fiscal year-end of the first such engagement.

Approved Administering Entities

The Maine Board of Accountancy recognizes the following as approved administering entities for peer reviews:

American Institute of Certified Public Accountants (AICPA): Administers peer reviews through its Peer Review Program.
New England Peer Review (NEPR): Provides peer review services for firms in the New England region.

These entities are responsible for conducting peer reviews in accordance with standards that meet or exceed those set by the AICPA.

Reporting and Compliance

Submission of Reports: Firms must submit a copy of the peer review acceptance letter from the administering entity to the Maine Board of Accountancy within 30 days of acceptance or with the firm's license renewal application, whichever comes first.
Facilitated State Board Access (FSBA): Firms may authorize the administering entity to provide the Board with access to peer review documents via the AICPA's FSBA system.

Non-Compliance and Extensions

Failure to Comply: Not adhering to peer review requirements can result in disciplinary actions, including denial of license renewal or other penalties.
Extensions: The Board may grant an extension of up to 12 months to meet peer review requirements for reasons such as health issues, military service, or other circumstances beyond the firm's control. Requests for extensions must be submitted in writing with the license renewal application.

Maine Board of Accountancy

Maryland

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

Massachusetts

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Massachusetts, CPAs are required to complete CPE to maintain their licensure. The Massachusetts Board of Public Accountancy outlines specific requirements regarding the number of hours, subject areas, and reporting periods.

General CPE Requirements

Total Hours: CPAs must complete 80 hours of CPE every two years.
Ethics Requirement: A minimum of 4 hours in professional ethics is required during each two-year reporting period.
Subject Areas: Acceptable subject areas include accounting, auditing, taxation, management services, computer science, communication arts, mathematics, statistics, economics, business law, and other fields that contribute to professional competence.

Reporting Period and License Renewal

CPE Reporting Period: The two-year period immediately preceding the license renewal date.
License Renewal Date: Biennially, by June 30th. Licensees with odd-numbered licenses renew in odd-numbered years, and those with even-numbered licenses renew in even-numbered years.

Carryover Policy

General CPE Hours: Massachusetts does not allow carryover of excess CPE hours from one reporting period to another.

Credit Limitations and Allowances

Instruction: Credit for teaching is granted at a rate of 1 hour for each hour of presentation. Additionally, 2 hours of preparation time may be claimed for each hour of presentation. The maximum credit allowed for instructors is 50% of the total hours required.
Published Materials: Authoring published articles or books may earn CPE credit, with a maximum of 25% of the total hours required. The amount of credit awarded is determined by the Continuing Education Committee.
Self-Study Programs: Formal correspondence or individual study programs that provide evidence of satisfactory completion may qualify for CPE credit. The amount of credit is determined by the Continuing Education Committee.
University/College Courses: Academic credit courses are granted 15 CPE hours for each semester hour. Non-credit courses are granted 1 CPE hour for each classroom hour.

Recordkeeping and Compliance

Documentation: CPAs must retain records of completed CPE activities, including certificates of completion, for a minimum of 5 years.
Verification: The Board may audit CPE records to ensure compliance. Failure to provide adequate documentation can result in disciplinary action.

Massachusetts Board of Public Accountancy

Peer Review

In Massachusetts, CPA firms that perform audit or attest services are required to participate in a Quality Review (QR) program, commonly known as peer review, to ensure adherence to professional standards and promote the quality of accounting and auditing services.

Applicability of Peer Review

Any CPA firm operating in Massachusetts that provides audit or attest services must:

Enroll in a Board-Approved Program: Firms must enroll in a quality review program approved by the Massachusetts Board of Public Accountancy before issuing any reports on financial statements.
Complete Initial Review: A firm providing audit or attest services must complete a quality review within three years before renewing the firm license.
Ongoing Reviews: Firms must undergo a quality review every three years to maintain compliance.

Firms that do not perform audit or attest services are exempt from this requirement but must notify the Board if they begin providing such services.

Administration of the Peer Review Program

The Massachusetts Board of Public Accountancy recognizes the following organizations as approved administering entities for peer reviews:

Massachusetts Society of Certified Public Accountants (MSCPA)
American Institute of Certified Public Accountants (AICPA)

These entities administer peer reviews in accordance with standards that meet or exceed those set by the AICPA.

Submission of Peer Review Results

Firms must submit peer review documents to the Massachusetts Board of Public Accountancy upon completion of the review. This can be done through the Facilitated State Board Access (FSBA) system, a secure platform that allows for the electronic submission of peer review reports and related documents.

Compliance and Enforcement

Failure to enroll in a peer review program or to submit the required documentation can result in disciplinary action by the Board, including the potential suspension of revocation of the firm's license to practice.

Massachusetts Board of Public Accountancy

Michigan

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Michigan, CPAs are required to complete CPE to maintain their licensure. The Michigan Department of Licensing and Regulatory Affairs (LARA) outlines specific requirements regarding the number of hours, subject areas, and reporting period.

General CPE Requirements

Annual Requirement: CPAs must complete 40 hours of CPE each year, totaling 80 hours over the two-year license cycle.
Subject Area Requirements:
- Accounting & Auditing (A&A): At least 8 hours annually.
- Professional Ethics: At least 2 hours annually, totaling 4 hours over two years.
  - Of these, 1 hour must be in Michigan Specific Ethics, approved by the Michigan Association of CPAs (MICPA).

Reporting Period and License Renewal

CPE Reporting Period: July 1 to June 30 each year.
License Renewal Date: Biennially, by July 31. Licensees must report their CPE credits by this date.

Carryover Policy

General CPE Hours: CPAs may carry over up to 40 hours of CPE to the next reporting period.
Subject Area Limits:
- Accounting & Auditing: Up to 8 hours may be carried over.
- Professional Ethics: Up to 2 hours may be carried over.

Credit Limitations and Allowances

Self-Study Programs: A maximum of 50% (20 hours) of the annual CPE requirement may be fulfilled through self-study programs.
Instruction and Authorship:
- Instruction: Credit for teaching is granted at a rate of 1 hour for each hour of presentation. Additionally, 2 hours of preparation time may be claimed for each hour of presentation. The maximum credit allowed for instructors is 50% of the total hours required.
- Published Materials: Authoring published articles or books may earn CPE credit, with a maximum of 25% of the total hours required. The amount of credit awarded is determined by the Continuing Education Committee.
University/College Courses: Academic credit courses are granted 15 CPE hours for each semester hour. Non-credit courses are granted 1 CPE hour for each classroom hour.

New Licensees

First-Year Exemption: Newly licensed CPAs are exempt from CPE requirements for the 12-month period following the date of initial licensure.

Recordkeeping and Compliance

Documentation: CPAs must retain records of completed CPE activities, including certificates of completion, for a minimum of 5 years.
Verification: The Board may audit CPE records to ensure compliance. Failure to provide adequate documentation can result in disciplinary action.

Michigan Department of Licensing and Regulatory Affairs

Michigan Association of CPAs

Peer Review

In Michigan, CPA firms and sole practitioners that perform certain attest services are mandated to participate in a peer review program to ensure adherence to professional standards and promote the quality of accounting.

Applicability of Peer Review

According to the Michigan Occupational Code (MCL 339.729), any CPA firm or sole practitioner that performs the following services must enroll in a peer review program:

Audits
Reviews
Compilations relied upon by third parties

Enrollment in a qualified peer review program must occur within one year of either the initial licensing date or the performance of services requiring a peer review, whichever comes first.

Qualified Sponsoring Organizations

Peer reviews must be conducted through a qualified sponsoring organization. The Michigan Board of Accountancy recognizes the following:

American Institute of Certified Public Accountants (AICPA) Peer Review Program
Other entities adhering to peer review standards defined in R 338.5102(1)(a)

Out-of-state firms licensed in Michigan may satisfy the peer review requirement by participating in a program approved by the state in which they are licensed.

Timing and Frequency

Initial Peer Review: Must be completed within three years prior to the firm's license renewal application.
Subsequent Reviews: Firms must undergo a peer review at least once every three years.
Proof Submission: Proof of peer review is not required until the second renewal following initial licensure or the performance of services requiring a peer review.

Reporting and Compliance

Submission of Reports: Firms must submit their peer review documents to the Michigan Department of Licensing and Regulatory Affairs (LARA) upon completion of the review. This can be done through the Facilitated State Board Access (FSBA) system.
Notification of Deficiencies: Firms receiving a "fail" rating or a second consecutive "pass with deficiencies" rating must notify LARA within 30 days of receipt of the acceptance letter.
Record Retention: Documents related to peer reviews must be retained in accordance with AICPA standards or until final adjudication of any related complaints, whichever is later.

Consequences of Non-Compliance

Failure to comply with peer review requirements can result in disciplinary actions, including suspension or revocation of the firm's license to practice.

Michigan Department of Licensing and Regulatory Affairs

Michigan Association of CPAs

Minnesota

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Minnesota, CPAs holding an active license are required to fulfill CPE obligations to maintain their licensure. These requirements are established by the Minnesota Board of Accountancy (BOA) and are designed to ensure that CPAs maintain professional competence.

General CPE Requirements

Annual Minimum: CPAs must complete at least 20 CPE hours each year.
Triennial Total: Over a rolling three-year period, CPAs must accumulate a minimum of 120 CPE hours.
Ethics Requirement: Within the three-year period, at least 8 hours must be in ethics, which can be either regulatory (technical) or behavioral (non-technical) ethics.
Technical Hours: A minimum of 60 hours must be technical subjects such as accounting, auditing, taxation, and other areas defined by the National Association of State Boards of Accountancy (NASBA) Fields of Study.
Group or Blended Learning: At least 24 hours must be obtained through group or blended learning programs.
Approved Sponsors: A minimum of 72 hours must be earned from BOA-approved sponsors, which include:
- NASBA-registered sponsors
- Professional organization recognized by the BOA, such as the Minnesota Society of Certified Public Accountants (MNCPA) and the American Institute of Certified Public Accountants (AICPA)
- Colleges and Universities whose academic programs qualify an applicant to sit for the CPA exam
- CPA firms that have undergone a system peer review within the last three years and received an unmodified report filed with the BOA.
- State auditing offices, such as the Office of the Legislative Auditor or State Auditor, provided a peer review has been completed within the past three years with an unmodified report filed with the BOA.

For a comprehensive list of approved sponsors and additional details, refer to the Minnesota BOA's official guidelines.

Reporting Period and Deadlines

CPE Year: Runs from July 1 to June 30 annually.
Reporting Deadline: CPE credits must be reported to the BOA by December 31 each year.
Reporting Method: CPAs can report their CPE hours through the BOA's online services portal.

Carryover and Carryback Policies

Carryover: Minnesota does not allow the carryover of excess CPE hours to future reporting periods.
Carryback: If a CPA fails to meet the CPE requirements by June 30, they may "carry back" hours earned after June 30 to satisfy the previous period's requirements. However, this is subject to noncompliance fees:
- $50 for the first month (or partial month) of noncompliance
- $25 for each subsequent month (or partial month) until compliance is achieved

It's important to note that carryback hours can only be applied to the CPE year in which they are needed and cannot be counted for multiple periods.

Credit Limitations and Allowances

Instruction: CPAs can earn a maximum of 60 hours over a three-year period for teaching, which includes preparation and presentation time.
Authorship: A maximum of 60 hours can be claimed for writing articles, books, or CPE courses for publication.
Self-study, Nano Learning, and Blended Learning: These formats are acceptable if the program sponsors are listed on the NASBA National Registry of CPE Sponsors and approved for the respective formats.
Non-Approved Sponsors: Courses from non-approved sponsors can be counted if:
- The course contributes to the CPA's professional knowledge and competence.
- The CPA has at least 72 hours from approved sponsors within the three-year reporting cycle.
- The program meets the minimum standards in the 2019 Statement on Standards for CPE.
- None of the courses are self-study, nano learning, or blended learning.
- Proper documentation is maintained, including a certificate of attendance, detailed agenda, and a statement describing how the program contributes to professional competence.

Newly Licensed CPAs

Licensed Between January 1 and June 30: Begin earning CPE on July 1 following licensure and report by December 31 of the same year.
Licensed Between July 1 and December 31: Begin earning CPE on July 1 of the following year and report by December 31 of that year.

Recordkeeping and Compliance

Documentation: CPAs must retain records of completed CPE activities, including certificates of completion, for a minimum of five years.
Verification: The BOA may audit CPE records to ensure compliance. Failure to provide adequate documentation can result in disciplinary action.

Minnesota Board of Accountancy

Peer Review

In Minnesota, CPA firms that perform attest or compilation services are required to participate in a peer review program to maintain their firm permit. These requirements are established by the Minnesota Board of Accountancy (BOA) and are detailed in Minnesota Administrative Rules Chapter 1105.

Applicability of Peer Review

Any CPA firm in Minnesota that issues reports on financial statements, including audits, reviews, or compilations, must:

Undergo a Peer Review: Firms must have a peer review conducted in accordance with the standards set forth by the BOA.
Frequency: Peer reviews are required once every three years.
Initial Review for New Firms: A new firm must undergo a peer review and submit the required materials to the BOA no later than 21 months from the report date of the initial attest or compilation engagement.

Firms that do not perform attest or compilation services are exempt from the peer review requirement but must annually represent to the BOA that they do not engage in such services.

Administration of the Peer Review Program

The BOA recognizes several organizations as approved report acceptance bodies (RABs) to administer peer reviews, including:

American Institute of Certified Public Accountants (AICPA)
Minnesota Society of Certified Public Accountants (MNCPA)
Minnesota Association of Public Accountants (MAPA)

These organizations are responsible for conducting peer reviews in accordance with standards that meet or exceed those set by the AICPA.

Submission of Peer Review Results

Firms must submit the following documents to the BOA within 30 days of receiving the final letter of acceptance from the RAB:

Peer Review Report: Including any letter of response from the firm addressing deficiencies.
RAB Acceptance Letter: Signed by the firm if corrective action was required.
Letter Accepting Corrective Action as Complete: If applicable.

These documents can be submitted electronically through the Facilitated State Board Access (FSBA) system or mailed to the BOA.

Compliance and Enforcement

Failure to comply with peer review requirements can result in disciplinary action by the BOA, including suspension or revocation of the firm's permit to practice.

Minnesota Board of Accountancy

Mississippi

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Mississippi, CPAs are required to complete CPE to maintain their active licensure. The Mississippi State Board of Public Accountancy (MSBPA) outlines specific requirements regarding the number of hours, subject areas, and reporting periods.

General CPE Requirements

Annual Requirement: CPAs must complete 40 CPE credit hours each year, with the compliance period ending on June 30 annually.
Carryover Policy: If more than 40 CPE credit hours are accumulated in a one-year compliance period, the excess hours up to a maximum of 20 CPE credit hours may be carried over and applied to the CPE requirement for the immediately following one-year compliance period.

Ethics CPE Requirement (Triennial)

Over a three-year period, CPAs must complete 4 CPE credit hours in Board-approved ethics courses, which must include:

3 hours in general ethics and professional conduct.
1 hour specifically covering Mississippi Public Accountancy Law and Regulations.

These ethics CPE hours must be Board-approved to retain credit.

New Licensees

Exemption: New CPA licensees are exempt from earning CPE credit hours during the compliance period in which they obtain a license and are exempt from the ethics CPE requirement for the remainder of that triennial period.
Reporting: Despite the exemption, new licensees must still submit the online CPE reporting form by August 1 following the end of the compliance period.

Reporting and Compliance

Submission Deadline: All active CPAs must submit their CPE reporting for online by August 1 each year, regardless of whether they met the CPE requirements or qualify for an exemption.
Record Retention: CPAs must maintain their CPE records for a minimum of five years.
Non-Compliance: Failure to report and submit the minimum CPE credit hours accrued during the applicable reporting period may result in disciplinary action.

Acceptable CPE Programs

Self-Study Programs: Accepted if earned from a sponsor approved by the Quality Assurance Services (QAS) program of the National Association of State Boards of Accountancy (NASBA).
Personal Development Courses: No more than 20 CPE credit hours for personal development courses may be claimed in a CPE compliance year.

Mississippi State Board of Public Accountancy

Peer Review

In Mississippi, CPA firms that perform attest or compilation services are required to participate in a peer review program to maintain compliance with the Mississippi State Board of Public Accountancy (MSBPA) regulations.

Applicability of Peer Review

Any CPA firm (referred to as a "practice unit") that provides services such as audits, reviews, or compilations must:

Enroll in a Board-Approved Peer Review Program: Firms must enroll within one year of obtaining their initial permit or performing services that require a peer review.
Undergo Peer Review Every Three Years: Firms are required to complete a peer review at least once every three years.

Firms that have not performed any engagements requiring a peer review in the 12 months prior to registration may be exempt from enrollment but must still register with the Board.

Approved Sponsoring Organizations

The MSBPA recognizes the American Institute of Certified Public Accountants (AICPA) as an approved sponsoring organization for peer reviews. Firms may also seek approval for other sponsoring organizations by submitting evidence that the organization's peer review program meets Board standards.

Reporting Requirements

After completing a peer review, firms must submit the following to the MSBPA within 30 days of receipt from the sponsoring organization:

Peer Review Report
Final Letter of Acceptance
Letter of Response and Agreement to Corrective Actions (if applicable)

These documents should be submitted via a secure website or other secure means unless unavailable, in which case direct submission by the firm is acceptable.

Consequences of Deficient Reports

Firms receiving two consecutive "pass with deficiencies" reports or a "fail" report may be required to:

Undergo an Accelerated Peer Review within 18 months of the last review year-end.
Have engagements reviewed by a third party before issuing reports if fieldwork has already begun.

Such firms may also be subject to investigation and disciplinary action by the Board.

Mississippi State Board of Public Accountancy

Missouri

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Missouri, CPAs are required to complete CPE to maintain their active licensure. The Missouri State Board of Accountancy (MOSBA) outlines specific requirements regarding the number of hours, subject areas, and reporting periods.

General CPE Requirements

Annual Requirement: CPAs must complete 40 CPE credit hours each calendar year.
Ethics Requirement: Of the 40 hours, at least 2 hours must be in ethics.
Reporting Period: The CPE reporting period runs from January 1 to December 31 each year.
Grace Period: Beginning January 1, 2021, licensees in good standing are granted a 60-day grace period (until March 1) to cure any CPE shortage for the preceding calendar year. Licensees requesting to use this grace period must submit a written application to the board on a prescribed form.

Recordkeeping and Compliance

Documentation: CPAs must maintain documentation demonstrating compliance with CPE requirements, including certificates of completion from approved providers.
Retention Period: All CPE records must be retained for a minimum of five years following the completion of each learning activity.
Audit Process: The MOSBA conducts random audits to verify compliance with CPE requirements. If a licensee's CPE is selected for audit and any course hours are disallowed, the licensee will have 30 days to obtain qualifying CPE.

Acceptable CPE Programs

CPE programs must meet or exceed the minimum standards set forth in the Statement on Standards for Continuing Professional Education (CPE) Programs jointly approved by the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA).

Acceptable CPE formats include:

Group programs
Self-study programs
Blended-learning programs
Nano-learning programs
Independent study through a CPE program
College or university courses in accounting or accounting-related fields (excluding basic or introductory courses or CPA exam preparation/review courses)
Authorship of published articles, books, and other publications relevant to maintaining or improving professional competence (limited to 2 hours per calendar year)

New Licensees

Applicants applying for their initial permit to practice in Missouri are not required to complete continuing education courses to receive their initial permits.

Missouri State Board of Accountancy

Peer Review

In Missouri, CPA firms that perform attest or compilation services are required to participate in a peer review program as a condition for renewing their firm permit. These requirements are established by the Missouri State Board of Accountancy (MOSBA) and are detailed in the Missouri Code of State Regulations (20 CSR 2010-5).

Applicability of Peer Review

Any CPA firm that performs one or more of the following services must enroll in an approved peer review program:

Attest engagements
Reviews
Compilations

Firms must enroll in an approved peer review program within 90 days after entering into an engagement for their first attest, review, or compilation service. The initial peer review must be completed within 18 months of enrollment, and subsequent peer reviews are required at least once every three years.

Approved Peer Review Programs

The MOSBA recognizes the following as approved peer review programs:

American Institute of Certified Public Accountants (AICPA) Peer Review Program
Missouri Society of Certified Public Accountants (MOCPA) Peer Review Administration Program
Peer review administration programs of state boards of accountancy that meet or exceed the AICPA Standards for Performing and Reporting on Peer Reviews.

Reporting and Compliance

Firms must verify enrollment in an approved peer review program when applying for renewal of their firm permit. Additionally, firms must ensure that any member responsible for supervising attest or review services, or who signs or authorizes someone to sign the firm's report on such engagements, has met the competency requirements as prescribed by the MOSBA.

For firms with multiple offices, the resident manager of each Missouri office must verify that the office follows the same quality control policies and procedures established by the firm that has been subjected to the peer review process.

Oversight

The Peer Review Oversight Board (PROB), appointed by the MOSBA, is responsible for ensuring that participating firms are successfully undergoing peer reviews from approved programs. The PROB may request additional information or documentation to ascertain the effectiveness of a peer review program.

Missouri State Board of Accountancy

Montana

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Montana, CPAs holding an active license are required to fulfill CPE obligations to maintain their licensure. These requirements are established by the Montana Board of Public Accountants and are designed to ensure that CPAs maintain professional competence.

General CPE Requirements

Total Horus: CPAs must complete 120 hours of CPE over a rolling three-year period.
Ethics Requirement: Within the three-year period, at least 2 hours must be in ethics.
Technical Subjects: A minimum of 60 hours must be in technical subjects, which include areas such as accounting, auditing, taxation, management services, information technology, statistics, economics, business law, finance, specialized knowledge, and ethics.
Reporting Period: The CPE reporting period is based on a rolling three-year cycle. For example, for license renewal by December 31, 2025, the reporting period would include CPE earned in 2023, 2024, and 2025.

New Licensees

Initial CPE Requirement: New licensees must meet the 120-hour CPE requirement, including 2 hours of ethics, by December 31 of the third year following the year of initial licensure. For instance, if licensed in 2022, the CPE requirement must be fulfilled by December 31, 2025.

Recordkeeping and Compliance

Documentation: CPAs must maintain documentation demonstrating compliance with CPE requirements, including certificates of completion from approved providers.
Retention Period: All CPE records must be retained for a minimum of five years following the completion of each learning activity.
Audit Process: The Board conducts random audits to verify compliance with CPE requirements. If selected for an audit, CPAs are required to submit their CPE records through the NASBA CPE Audit Service Platform.

Acceptable CPE Programs

Acceptable CPE formats include:

Group programs
Self-study programs
Blended-learning programs
Nano-learning programs
Independent study
College or university courses in accounting or accounting-related fields (excluding basic or introductory courses or CPA exam preparation/review courses)
Authorship of published articles, books, and other publications relevant to maintaining or improving professional competence (limited to 25% of total CPE hours)
Instruction of courses or presentations (limited to 50% of total CPE hours)

Please note that self-study courses offered by sponsors not registered with NASBA receive half credit, and nano-learning courses must be offered by a NASBA National Registry of CPE Sponsor to receive any CPE credit.

Montana Board of Public Accountants

Peer Review

In Montana, CPA firms that perform certain services are required to participate in a peer review program to maintain compliance with the Montana Board of Public Accountants (MBPA) regulations. These requirements are established by the MBPA and are detailed in the Administrative Rules of Montana.

Applicability of Peer Review

Any CPA firm in Montana that performs one or more of the following services must enroll in a board-approved peer review program:

Audits
Reviews
Compilations
Examinations, reviews, or agreed-upon procedures engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)
Engagements of non-issuers performed in accordance with PCAOB standards and are not subject to PCAOB inspection.

Firms must enroll in a board-approved peer review program within 90 days after entering into an engagement for their first attest, review, or compilation service. The initial peer review must be completed within 18 months of enrollment, and subsequent peer reviews are required at least once every three years.

Approved Peer Review Programs

The MBPA recognizes peer review programs administered by entities fully involved in the administration of the AICPA Peer Review Program as approved sponsoring organizations. Currently, the Nevada Society of CPAs (NVCPA) administers the AICPA Peer Review Program for Montana firms.

Firms are not required to become members of the AICPA or NVCPA to participate in the peer review program.

Reporting and Compliance

Firms must authorize the peer review sponsoring organization to provide the MBPA with access to the following documents via a secure website within 30 days of acceptance:

Peer Review Report
Firm's Letter of Response, if applicable
Acceptance Letter from the sponsoring organization
Letter signed by the firm accepting the documents and agreeing to take any required actions
Letter from the sponsoring organization notifying the firm that required actions have been appropriately completed, if applicable

Consequences of Non-Compliance

If a firm is dropped from or terminated by a board-approved peer review program, it must notify the MBPA in writing within 21 days and request authorization to enroll in another board-approved program. Failure to comply with peer review requirements can result in disciplinary action by the MBPA.

Montana Board of Public Accountants

Nebraska

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Nebraska, CPAs holding an active permit to practice are required to complete CPE to maintain licensure. Below are the key requirements and guidelines:

General CPE Requirements

Total Hours: CPAs must complete 80 hours of CPE within the two calendar years preceding permit renewal.
Ethics Requirement: At least 4 hours must be in ethics. Note that the AICPA Professional Ethics Exam used for certificate issuance cannot be applied toward this ethics requirement.
Reporting Deadline: CPE must be earned by December 31 of the year prior to renewal and reported by January 31 of the renewal year.
Pro-Rated Requirement: For permits issued after July 1 of the year preceding expiration, only 40 hours of CPE are required for renewal.

Subject Matter and Credit Limits

Technical Content: CPE courses should be directly related to the practice of public accountancy and contribute to professional competency.
Personal Development: Up to 16 hours of personal development courses (e.g., communication, leadership) may be counted toward the 80-hour requirement.
Self-Study Programs: A maximum of 40 hours from self-study programs is allowed per reporting period.
Instruction and Authorship:
- Instruction: Credit for teaching is equal to presentation time plus up to two times preparation time. Repeat instruction of the same material within the renewal period is not accepted.
- Authorship: A maximum of 16 hours may be claimed for published articles, books, or other publications.

Reporting and Documentation

Annual Reporting: CPAs must submit a report of CPE activities by January 31 each year. Failure to report may result in penalties or non-renewal of the permit.
Record Retention: Permit holders are responsible for maintaining documentation for CPE activities for six years. Acceptable evidence includes certificates of completion, sign-in sheets, transcripts, or signed statements from instructors.
Course Approval: Courses not pre-approved by the NASBA CPE Registry must be approved by the Nebraska Board of Public Accountancy. Pre-approval can be sought using the Program Qualification Form available on the Board's website.

Additional Information

Inactive Status: CPAs with an inactive or "Inactive-Retired" status are not required to meet CPE requirements.
Waivers: The Board may grant waivers for CPE requirements in cases of illness, hardship, or other extenuating circumstances.
Audit Process: The Board conducts random audits to verify compliance with CPE requirements. Selected CPAs must provide documentation of CPE activities by June 1.

Nebraska Board of Public Accountancy

Peer Review

In Nebraska, CPA firms that perform certain services are required to participate in a peer review program to maintain compliance with the Nebraska Board of Public Accountancy (NBPA) regulations. These requirements are established by the NBPA and are detailed in the Nebraska Administrative Code, Title 288, Chapter 13.

Applicability of Peer Review

Any CPA firm in Nebraska that performs one or more of the following services must enroll in a board-approved peer review program:

Audits
Reviews
Compilations
Examinations, reviews, or agreed-upon procedures engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Firms that only prepare financial statements under the Statements on Standards for Accounting and Review Services (SSARS) Section 70 (preparation engagements) are not required to enroll in the peer review program.

Enrollment and Review Deadlines

Enrollment: Firms must enroll in a board-approved peer review program within 12 months of performing their first engagement requiring a peer review.
Initial Peer Review: The initial peer review must be completed within 18 months after the end of the period covered bythe firm's first engagement requiring a peer review.
Subsequent Reviews: Firms must undergo subsequent peer reviews at least once every three years.
Reporting: Firms must provide the NBPA with proof of enrollment and the peer review due date as determined by the sponsoring organization within 30 days of assignment. Additionally, firms must submit a copy of the peer review report to the NBPA by May 31.

Approved Sponsoring Organizations

The NBPA recognizes the American Institute of Certified Public Accountants (AICPA) Standards for Performing and Reporting on Peer Reviews as the professional standards to be used in administering, performing, and reporting peer reviews. The Nevada Society of CPAs (NVCPA) administers the AICPA Peer Review Program for Nebraska CPA firms.

Reporting and Compliance

After completing a peer review, firms must submit the following to the NBPA:

Pass Reports: A copy of the final letter of acceptance from the sponsoring organization.
Pass with Deficiencies Reports: A copy of the signed agreement to the conditional letter of acceptance and the final letter of acceptance from the sponsoring organization.
Fail Reports: A copy of the peer review report, the signed agreement to the conditional letter of acceptance, and the final letter of acceptance from the sponsoring organization.

Consequences of Non-Compliance

Failure to comply with peer review requirements can result in disciplinary action by the NBPA, including the potential suspension or revocation of the firm's permit to practice. Firms that do not perform any engagements requiring a peer review are not required to enroll in the program but must notify the NBPA accordingly.

Nebraska Board of Public Accountancy

Nevada

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Nevada, CPAs are required to fulfill CPE obligations annually to maintain their licensure. Below is a summary of the key requirements:

CPE Reporting Period and License Renewal

Reporting Period: January 1 to December 31 (annually).
License Renewal Deadline: December 31 each year.
CPE Completion Deadline: All required CPE must be completed by December 31 and reported by January 31 of the following year.

General CPE Requirements

Total Hours: CPAs must complete 40 hours of CPE each calendar year.
Ethics Requirement: A minimum of 2 hours in professional ethics is required annually. The ethics course can be taken through live seminars or self-study formats, and the Board does not mandate a specific course.
Accounting and Auditing (A&A) Requirement: If a CPA participates in any audit, review, full disclosure compilation, or attestation services for non-governmental agencies during the year, they must complete 8 hours of CPE in Accounting and Auditing subjects within the same year.

Credit Calculation Limitations

Instruction Credit: CPAs serving as instructors or discussions leaders can claim CPE credit equal to the presentation time plus up to two times the preparation time. Repeat instruction of the same material within a 12-month period is only accepted if the material has been substantially changed and approved by the Board.
University/College Courses:
- Semester System: One semester hour equals 15 CPE hours.
- Quarter System: One quarter hour equals 10 CPE hours.
- Non-Credit Courses: Each classroom hour equals one qualifying CPE hour.
Self-Study Programs: Nevada allows 100% of the required CPE hours to be earned through self-study programs, provided they adhere to NASBA standards.
Technical Reviewer Credit: CPAs may claim CPE credit for time spent reviewing CPE program materials, subject to Board approval.

Reciprocity and Exemptions

Out-if-State Licensees: CPAs licensed and residing in another state may comply with that state's CPE requirements. If the other state does not have CPE requirements, the CPA must comply with Nevada's CPE requirements.
Exemptions: The Board may grant exemptions from CPE requirements for reasons such as health issues, active military service, or other circumstances deemed appropriate.

Nevada State Board of Accountancy

Peer Review

In Nevada, CPA firms that perform certain services are required to participate in a peer review program to maintain compliance with the Nevada State Board of Accountancy regulations. These requirements are established by the Board and are detailed in their official guidelines.

Applicability of Peer Review

Any CPA firm in Nevada that performs one or more of the following services must enroll in a board-approved peer review program:

Audits
Reviews
Compilations
Examinations, reviews, or agreed-upon procedures engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Enrollment and Review Deadlines

Enrollment: Firms must enroll in a board-approved peer review program within 12 months of performing their first engagement requiring a peer review.
Initial Peer Review: The initial peer review must be completed within 18 months after the end of the period covered by the firm's first engagement requiring a peer review.
Subsequent Reviews: Firms must undergo subsequent peer reviews at least once every three years.
Reporting: Firms must provide the Nevada State Board of Accountancy with proof of enrollment and the peer review due date as determined by the sponsoring organization within 30 days of assignment. Additionally, firms must submit a copy of the peer review report to the Board by May 31.

Approved Sponsoring Organizations

The Nevada State Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Standards for Performing and Reporting on Peer Reviews as the professional standards to be used in administering, performing, and reporting peer reviews. The Nevada Society of CPAs (NVCPA) administers the AICPA Peer Review Program for Nevada CPA firms.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Nevada State Board of Accountancy:

Pass Reports: A copy of the final letter of acceptance from the sponsoring organization.
Pass with Deficiencies Reports: A copy of the signed agreement to the conditional letter of acceptance and the final letter of acceptance from the sponsoring organization.
Fail Reports: A copy of the peer review report, the signed agreement to the conditional letter of acceptance, and the final letter of acceptance from the sponsoring organization.

Consequences of Non-Compliance

Failure to comply with peer review requirements can result in disciplinary action by the Nevada State Board of Accountancy, including the potential suspension or revocation of the firm's permit to practice. Firms that do not perform any engagements requiring a peer review are not required to enroll in the program but must notify the Board accordingly.

Nevada State Board of Accountancy

Nevada Society of CPAs

New Hampshire

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In New Hampshire, CPAs must adhere to specific CPE requirements to maintain their licensure. These requirements are overseen by the New Hampshire Board of Accountancy and are designed to ensure that CPAs remain current with professional standards and practices.

License Renewal and CPE Reporting Period

License Renewal Cycle: As of February 22, 2023, CPA licenses in New Hampshire are issued for a two-year period, expiring on the last day of the month in which the license was issued.
CPE Reporting Period: Corresponds with the licensure timeframe.

General CPE Requirements

Total Hours:
- For a two-year license:
  - Complete 80 hours of CPE.
  - A minimum of 20 hours must be completed each year.
  - At least 4 hours must be in professional ethics.
- For a three-year license (issued prior to February 22, 2023):
  - Complete 120 hours of CPE.
  - A minimum of 20 hours must be completed each year.
  - At least 4 hours must be in professional ethics.
Proration for New Licensees: Individuals who were issued a license less than three years but more than two years prior to renewal must complete at least 80 hours of CPE. Those issued a license less than two years but more than one year prior to renewal must complete at least 40 hours of CPE.

Acceptable CPE Subjects

CPE activities must be formal programs that contribute to the professional knowledge and competence of the licensee. Acceptable subjects include, but are not limited to: public accounting, governmental accounting, auditing, business law, finance, management advisory services, marketing, behavioral ethics, communications, personal development, computer science, economics, mathematics, statistics, and taxation.

Credit Calculation and Limitations

Measurement: One CPE hour is granted for every 50 minutes of participation.
Instruction and Authorship:
- Credit for teaching is equal to presentation time plus up to two times preparation time.
- Repeat instruction of the same material within the renewal period is only accepted if the material has been substantially changed.
- Credit for authoring articles, books, or other publications is limited to 50% of the total required hours.
Carryover:
- For two-year licenses, up to 40 hours of excess CPE may be carried over to the next cycle.
- For three-year licenses, up to 60 hours may be carried over.
- Carryover hours cannot be used to meet the annual minimum or ethics requirements.

Recordkeeping and Compliance

Documentation: Licensees must retain records of CPE activities for a minimum of three years.
Audit: The Board conducts random audits of CPE compliance. If selected, licensees must provide documentation of their CPE activities.

Additional Information

CE Broker: The New Hampshire Office of Professional Licensure and Certification (OPLC) has partnered with CE Broker to facilitate CPE tracking and compliance. Licensees can create a free account to track their CPE activities.

New Hampshire Board of Accountancy

Peer Review

In New Hampshire, CPA firms that perform specific services are required to participate in a peer review program to maintain compliance with the New Hampshire Board of Accountancy regulations. These requirements are established by the Board and are detailed in the New Hampshire Code of Administrative Rules, Part Ac 405.

Applicability of Peer Review

Any CPA firm in New Hampshire that performs one or more of the following services must enroll in a board-approved peer review program:

Audits (financial, performance, or both)
Reviews of financial statements
Compilations of financial statements
Agreed-upon procedures

Firms are not required to participate in a peer review program until they agree to undertake a report engagement for any of the services listed above.

Enrollment and Review Deadlines

Notification: Within 30 days of first being engaged to provide any of the services listed above, a firm must notify the Board in writing and provide documentation of enrollment in a peer review program that meets the requirements.
Initial Peer Review: The initial peer review must be completed within 18 months after the end of the period covered by the firm's first engagement requiring a peer review.
Final Acceptance Letter: Within 24 months of the year-end date of the report on the engagement, the firm must furnish to the Board a peer review final acceptance letter.
Subsequent Reviews: Firms must undergo subsequent peer reviews at least once every three years.

Approved Peer Review Programs

The New Hampshire Board of Accountancy recognizes the following peer review programs:

AICPA National Peer Review Committee
AICPA Peer Review Program
Any other peer review program that is substantially equivalent to those listed above.

Firms that do not have AICPA members may enroll in the New England Peer Review (NEPR) Program to meet their Board of Accountancy peer review requirements.

Reporting and Compliance

After completing a peer review, firms must submit the following to the New Hampshire Board of Accountancy:

Final Letter of Acceptance: A copy of the final letter of acceptance from the peer review entity.
Accept-Provided-That Letter: If the firm received a rating of "pass with deficiencies" or "fail", they must provide an accept-provided-that letter, describing required follow-up actions and their due dates.
Status Updates: If the final letter of acceptance has not been issued as of the date the CPA firm files the firm registration form, the status of the peer review in process must be submitted within 60 days of the date it is issued.

Consequences of Non-Compliance

Failure to comply with peer review requirements can result in disciplinary action by the New Hampshire Board of Accountancy, including the potential suspension or revocation of the firm's permit to practice. Firms that do not perform any engagements requiring a peer review are not required to enroll in the program but most notify the Board accordingly.

New Hampshire Board of Accountancy

New Jersey

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In New Jersey, CPAs are required to complete CPE to maintain an active license. Below is a summary of the key requirements:

CPE Reporting Period and License Renewal

License Renewal Cycle: Every three years, with licenses expiring on December 31 of the renewal year.
CPE Reporting Period: January 1 to December 31 of each year within the three-year cycle.

General CPE Requirements

Total Hours: 120 hours over the three-year period.
Annual Minimum: At least 20 hours must be completed each year.
Technical Subjects: A minimum of 60 hours in technical subjects, which include accounting, auditing, business law, computer science, economics, finance, management advisory services, mathematics, statistics, SEC practice, taxation, and professional ethics.
Accounting and Auditing: If engaged in the practice of public accountancy or involved in the attest function, at least 24 hours must be in accounting or auditing subjects.
Ethics Requirement: 4 hours in New Jersey law and ethics, to be completed every three years. This course must be taken through a live, interactive format from a sponsor approved by the New Jersey State Board of Accountancy.

Credit Calculation and Limitations

Measurement: One CPE credit is granted for every 50 minutes of participation.
Self-Study Programs: There is no limit to the amount of CPE that can be earned through self-study programs, provided they are obtained through a NASBA-approved self-study provider. However, the four-credit New Jersey law and ethics course must be taken through an in-person program or webinar by an approved provider.
Instruction and Authorship:
- Instruction: Credit for teaching is equal to presentation time plus up to two times preparation time. Repeat instruction of the same material within the renewal period is only accepted if the material has been substantially changed.
- Authorship: A maximum of 30 hours may be claimed for published articles, books, or other publications.
Nano Learning: Accepted in New Jersey, effective January 1, 2018.

Recordkeeping and Compliance

Documentation: Licensees must retain records of CPE activities for a minimum of five years.
Audit: The Board conducts random audits of CPE compliance. If selected, licensees must provide documentation of their CPE activities.

Additional Information

New Licensees: Required to take the New Jersey law and ethics course within six months of licensure and send a copy of the course completion certificate to the Board within 30 days of attending the course.
Exemptions: The Board may grant exemptions from CPE requirements for reasons such as health issues, active military service, or other circumstances deemed appropriate.

NJCPA

Peer Review

In New Jersey, CPA firms that perform specific services are mandated to participate in a Peer Review Program as outlined by the New Jersey State Board of Accountancy. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

Participation in the Peer Review Program is required for each firm licensed with the Board that performs any of the following services:

Attest services
Accounting and/or auditing engagements, including:
- Audits
- Reviews
- Compilations
- Forecasts
- Projections
- Special Reports

Firms that issue only compilations where no report is required under the Statements on Standards for Accounting and Review Services (SSARS) are not required to participate in the program. However, such firms must submit a written request for exemption to the Board annually.

Enrollment and Review Deadlines

Enrollment: Firms must enroll in the Peer Review Program of an approved sponsoring organization within one year from the date the firm was initially licensed or within one year from the date the firm begins to perform services requiring a peer review, whichever is earlier.
Review Frequency: Peer reviews are required once every three years.
Review Due Date: The review is due six months after the end of the peer review period. For example, if the peer review period is April 1 through March 31, the review is due by September 30.
Notification to Board: Firms must notify the Board of their enrollment in the Peer Review Program within 30 days of assignment of the review due date by the sponsoring organization.

Approved Sponsoring Organization

The Board recognizes the following as qualified sponsoring organizations:

American Institute of Certified Public Accountants (AICPA) Peer Review Program
New Jersey Society of Certified Public Accountants (NJSCPA)
National Conference of CPA Practitioners (NCCPAP)
Public Company Accounting Oversight Board (PCAOB)

Other entities that utilize substantially similar standards and are approved by the Board may also serve as sponsoring organizations.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Board within 30 days of receipt of final acceptance from the sponsoring organization:

Peer Review Report
Acceptance Letter from the sponsoring organization
Letter of Response, if applicable (required for "fail" or "pass with deficiencies" ratings)
Letter of Completion, if applicable

Additionally, firms must complete and submit the Board's Peer Review Compliance Reporting Form within the same timeframe.

Consequences of Non-Compliance

Failure to comply with peer review requirements can result in disciplinary action by the Board, including the potential suspension or revocation of the firm's permit to practice. Firms that do not perform any engagements requiring a peer review are not required to enroll in the program but must notify the Board accordingly.

New Jersey State Board of Accountancy

New Mexico

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In New Mexico, CPA firms that perform certain services are required to participate in a peer review program to maintain compliance with the New Mexico Public Accountancy Board regulations. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

Participation in the peer review program is mandatory for each firm that performs or offers to perform the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Attestation engagements
Forecasts or projections

Firms that do not perform any of these services may be exempt from the peer review requirement. However, such firms must submit a written request for exemption to the Board.

Enrollment and Review Deadlines

Enrollment: New firms are required to enroll in a qualified peer review program within 30 days of completing their first engagement that requires a peer review.
Initial Peer Review: The initial peer review must be completed within 18 months of the firm's first engagement that requires a peer review.
Subsequent Reviews: Firms must undergo subsequent peer reviews at least once every three years.
Renewal: As a condition to permit renewal, the Board requires the applicant to undergo a peer review conducted in accordance with Board rules.

Approved Peer Review Programs

The New Mexico Public Accountancy Board recognizes peer review programs administered by the American Institute of Certified Public Accountants (AICPA) and other Board-approved sponsoring organizations.

Reporting and Compliance

After completing a peer review, firms must submit the following to the New Mexico Public Accountancy Board:

Peer Review Report
Acceptance Letter from the sponsoring organization
Completion Letter, if applicable

These documents must be submitted with the firm's renewal application.

Consequences of Non-Compliance

Failure to comply with peer review requirements can result in disciplinary action by the New Mexico Public Accountancy Board, including the potential suspension or revocation of the firm's permit to practice.

New Mexico Public Accountancy Board

New York

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In New York, all CPA firms that perform attest services are required to participate in the Mandatory Peer Review Program (MPRP), as mandated by Education Law Section 7410. This requirement applies to all firms, including sole proprietorships and those with only one or two CPAs.

Applicability of Peer Review

Firms must enroll in the MPRP if they provide any of the following attest services:

Audits
Reviews of financial statements
Examinations conducted under Statements on Standards for Attestation Engagements (SSAE)
Agreed-upon procedures engagements

These services are performed under standards such as:

Statements on Auditing Standards (SAS)
Statements on Standards for Accounting and Review Services (SSARS)
Statements on Standards for Attestation Engagements (SSAE)
Government Auditing Standards
Public Company Accounting Oversight Board (PCAOB) standards

Firms that perform only compilation or preparation engagements are not required to participate in the MPRP but must notify the Department of their exemption status.

Enrollment and Review Deadlines

Notification: Within 30 days of the initial performance of attest services, firms must:
- Notify the New York State Education Department (NYSED) of the change in status.
- Provide proof of enrollment in an acceptable peer review program.
Initial Peer Review: Must be completed within 18 months of the firm's initial performance of attest services.
Subsequent Reviews: Firms are required to undergo a peer review every three years thereafter.

Approved Peer Review Programs

The NYSED recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program as the accepted peer review program. Firms must enroll through the AICPA's Peer Review Integrated Management Application (PRIMA).

Reporting and Compliance

After completing a peer review, firms must submit the following documents to the NYSED:

Peer Review Report
Acceptance Letter from the administering entity
Letter of Response, if applicable
Completion Letter, if applicable

These documents should be made available via the AICPA's PRIMA system within 30 days of issuance. If PRIMA access is not possible, firms must provide copies by mail or email within 10 days of receipt.

Consequences of Non-Compliance

Failure to comply with peer review requirements can result in disciplinary action by the NYSED, including potential suspension or revocation of the firm's permit to practice. Firms that do not perform any engagements requiring a peer review are not required to enroll in the program but must notify the Department accordingly.

NYSED Mandatory Peer Review Page

North Carolina

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In North Carolina, CPAs and CPA firms that provide certain services are required to participate in the state's Peer Review Program. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

Participation in the Peer Review Program is mandatory for CPAs and CPA firms that perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Firms that do not perform any of these services are exempt from the peer review requirement until they issue their first report. Upon issuing such a report, the firm must register with an approved peer review program within 30 days.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program within 30 days of issuing their first report that falls under the peer review requirement.
Initial Peer Review: The first peer review must be completed within 18 months of the issuance of the first report.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years and six months form the year-end of the 12-month period covered by the previous peer review.

Approved Peer Review Programs

The North Carolina State Board of CPA Examiners recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews. In North Carolina, Coastal Peer Review, Inc. administers the peer review program.

Reporting and Compliance

After completing a peer review, firms must submit the following to the North Carolina State Board of CPA Examiners within 60 days of receiving the final Letter of Acceptance:

Final Letter of Acceptance from the peer review program.
Peer Review Report, if the firm receives a "fail" or a second consecutive "pass with deficiencies" rating.
Letter of Response, if applicable.
Completion Letter, if applicable.

It is the firm's responsibility to ensure that these documents are submitted to the Board; the peer review program does not automatically forward them.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely submission of required documents, may result in disciplinary action by the Board. This can include suspension of the CPA certificate and/or civil penalties.

North Carolina State Board of CPA Examiners

North Dakota

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In North Dakota, CPA firms that perform certain attest services are required to participate in a peer review program to maintain compliance with state regulations. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program within 30 days of issuing their first report that falls under the peer review requirement.
Initial Peer Review: The first peer review must be completed within 18 months of the issuance of the first report.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years and six months from the year-end of the 12-month period covered by the previous peer review.

Approved Peer Review Programs

The North Dakota State Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews. In North Dakota, the Minnesota Society of CPAs administers the peer review program.

Reporting and Compliance

Firms are not required to submit peer review documents to the North Dakota State Board of Accountancy unless specifically requested by the Board. However, firms should retain all peer review documentation and be prepared to provide it upon request.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include fines, suspension of the CPA certificate, or other penalties.

North Dakota State Board of Accountancy

Ohio

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Ohio, CPAs holding an active permit are required to complete CPE to maintain licensure. Below is a comprehensive overview of the CPE requirements:

CPE Reporting Period and License Renewal

Reporting Period: Three-year cycle, from January 1 to December 31.
License Renewal: CPAs must renew their licenses every three years, with the renewal window opening on October 2 and closing on December 31 of the renewal year.

General CPE Requirements

Total Hours: 120 CPE hours over the three-year reporting period.
Annual Minimum: At least 20 CPE hours must be completed each calendar year.
Ethics Requirement: 3 CPE hours in Professional Standards and Responsibilities (PSR) courses approved by the Accountancy Board of Ohio.

Subject-Specific Requirements

Accounting and Auditing (A&A): 24 CPE hours required if you perform financial reporting engagements or related work.
Taxation: 24 CPE hours required if you perform tax engagements or provide tax-related advice.

Qualifying CPE Activities

Course Providers: CPE courses must be from providers approved by the Accountancy Board of Ohio or listed on the NASBA National Registry.
Instruction and Authorship: Credit may be earned for teaching or authoring relevant materials, subject to Board approval.
College Courses: Credit is awarded for completed college courses in relevant subjects, with 10 CPE hours per quarter hour or 15 CPE hours per semester hour.

Returning to Practice

If your license is expired or suspended, to return to active status, you must complete:

120 CPE hours within the 36 months prior to reactivation, including:
- 24 hours in accounting and/or auditing.
- 24 hours in taxation.
- 3 hours in Board-approved PSR courses.

Non-Compliance Penalties

Annual Shortfall: Failing to meet the 20-hour annual minimum may result in a fine of $10 per deficient hour.
Late Renewal: Renewing after the December 31 deadline incurs late fees - $50 per month up to $300 for a standard permit, and $100 per month up to $1,200 for a permit employed in public accounting.

Accountancy Board of Ohio

Peer Review

In Ohio, CPA firms that perform certain services are required to participate in a peer review program to ensure compliance with professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program within 30 days of issuing their first report that falls under the peer review requirement.
Initial Peer Review: The first peer review must be completed within 18 months of the issuance of the first report.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Accountancy Board of Ohio recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA standards for Performing and Reporting on Peer Reviews. In Ohio, the Ohio Society of CPAs administers the peer review program.

Reporting and Compliance

After completing a peer review, firms must retain the following documentation:

Peer Review Report
Acceptance Letter from the peer review program
Letter of Response, if applicable
Completion Letter, if applicable

These documents should be maintained in the firm's records and made available upon request to the Accountancy Board of Ohio.

Consequences of Non-Compliance

Accountancy Board of Ohio

Oklahoma

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Oklahoma, CPAs are required to complete CPE to maintain active licensure. Below is a comprehensive overview of the CPE requirements:

CPE Reporting Period and License Renewal

CPE Reporting Period: Annually, from January 1 to December 31.
License Renewal: CPAs must renew their licenses annually by the last day of their birth month.

General CPE Requirements

Total Hours: 120 CPE hours over a rolling three-year period.
Annual Minimum: At least 20 CPE hours must be completed each calendar year.
Ethics Requirement: 4 CPE hours in professional ethics must be completed within each rolling three-year period.

Subject-Specific Requirements

Industry CPAs with Permit to Practice: CPAs employed in industry who hold a permit to practice must complete:
- At least 72 of the 120 CPE hours in subjects related to public accounting over the rolling three-year period.
- A minimum of 8 CPE hours annually in the areas of accounting, taxation, or assurance.
Compilation Engagements: CPAs involved in the supervision or review of compilation engagements for third-party reliance must complete 4 CPE hours annually in compilation-specific courses. This requirement is waived if the CPA or their firm is enrolled in a Board-approved peer review program.

Acceptable CPE Activities

Self-Study Courses: Must be offered by sponsors registered with NASBA, the AICPA, or other organizations approved by the Board.
Nano-Learning: Accepted starting January 1, 2025, limited to 20 courses per calendar year, totaling up to 4 CPE credits.
Instruction and Authorship: Credit may be earned for teaching or authoring relevant materials, subject to Board approval.
College Courses: Credit is awarded for completed college courses in relevant subjects, with 15 CPE hours per semester hour or 10 CPE hours per quarter hour.

Additional Information

New Licensees: CPAs certified during the year must complete at least 20 CPE hours by December 31 of the year they are certified.
Recordkeeping: CPAs must retain records of CPE activities for a minimum of five years.
Exemptions: CPAs may be exempt from CPE requirements under certain conditions, such as retirement, disability, active military service, or residing and being compliant in another jurisdiction.

Oklahoma Accountancy Board

Peer Review

In Oklahoma, CPA firms that perform certain services are required to participate in a peer review program to ensure compliance with professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program within 12 months of issuing their first report that falls under the peer review requirement.
Initial Peer Review: The first peer review must be completed within 18 months of the year-end of the year when the first engagement was performed.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Oklahoma Accountancy Board recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews. In Oklahoma, the Oklahoma Society of Certified Public Accountants (OSCPA) administers the peer review program.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Oklahoma Accountancy Board (OAB):

Pass Reports: A copy of the report and the final letter of acceptance from the sponsoring organization.
Pass with Deficiencies or Fail Reports: A copy of the report, letter of response, conditional letter of acceptance outlining prescribed corrective actions and their due dates, and the final letter of acceptance from the sponsoring organization.

These documents should be submitted via a secure website or other secure means within 30 days of receipt from the sponsoring organization. There is no fee required for submission of pass reports; however, a $100 fee is required for every pass with deficiencies or fail report submitted.

Consequences of Non-Compliance

Oklahoma Accountancy Board

Oregon

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Oregon, CPAs must adhere to specific CPE requirements to maintain licensure. These requirements vary based on license status - active, inactive, or retired - and additional stipulations apply to municipal auditors.

CPE Reporting Period & License Renewal

Reporting Period: Biennial, aligned with license expiration:
- Even-numbered licenses expire on June 30 of even-numbered years.
- Odd-numbered licenses expire on June 30 of odd-numbered years.
Annual Minimum: Active licensees must complete at least 20 hours of CPE each year.
Carryforward: Up to 20 hours can be carried forward to the next reporting period, but these hours cannot be applied to the annual minimum requirement.

CPE Requirements by License Status

Active Licensees
- Total Hours: 80 hours every two years.
- Ethics: 4 hours in ethics.
- Non-Technical Limit: No more than 16 hours in non-technical subjects.
- Self-Study: Courses must be from NASBA-approved sponsors; include the sponsor's registry number when reporting.
- Instruction/Authoring: Combined credit for teaching, authoring, or leading discussions is capped at 50% of the total required hours.
- Nano-Learning: Accepted in 0.2-hour increments.
Inactive Licensees
- Total Hours: 32 hours every two years.
- Ethics: 4 hours in ethics.
- Non-Technical Limit: No more than 8 hours in non-technical subjects.
- Carryforward: Up to 8 hours can be carried forward to the next reporting period.
- Other Provisions: Same as active licensees regarding self-study, instruction/authoring, and nano-learning.
Retired Licensees
- No CPE is required for license renewal.

Municipal Auditor Requirements

CPAs on the municipal roster must complete 24 hours of CPE related to governmental auditing and environment each renewal period, including:

Core Subjects (minimum 16 hours):
- Audits of state and local governmental units.
- Governmental accounting and financial reporting standards and updates.
- Generally Accepted Governmental Auditing Standards and updates.
- Single Audit Act and related Office of Management and Budget circulars and supplements.
- Oregon Local Budget Law.
- Minimum standards of audits and reviews of Oregon municipal corporations.
GAAS/GAAP Courses: No more than 8 hours may be in courses related to generally accepted auditing standards and procedures.

These 24 hours can be included in the 80-hour requirement for active licensees.

Qualifying CPE Activities

Technical Subjects: Accounting, auditing, taxation, business law, finance, economics, information technology, data analytics, and related fields.
Non-Technical Subjects: Practice management, communication, personal development, marketing, and similar areas.
Documentation: Licensees must retain proof of completion for each CPE activity for five years.

Ethics CPE

Requirement: 4 hours of ethics CPE each biennial period.
Course Selection: As of October 1, 2023, any ethics course meeting general CPE requirements is acceptable; Oregon-specific ethics courses are no longer mandatory.
Out-of-State Licensees: Those whose principal place of business is outside Oregon may meet the ethics requirement by complying with their home jurisdiction's ethics CPE requirements, provided that jurisdiction mandates ethics CPE for renewal.

Oregon Board of Accountancy

Peer Review

In Oregon, CPA firms that perform certain services are required to participate in a peer review program to ensure compliance with professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program before issuing the report. The firm must send proof of enrollment and the date for the initial peer review to the Oregon Board of Accountancy.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program before issuing their first report that falls under the peer review requirement.
Initial Peer Review: The schedule for the firm's peer review shall be established according to the program standards.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Oregon Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews. In Oregon, the Oregon Society of Certified Public Accountants (OSCPA) administers the peer review program.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Oregon Board of Accountancy (OAB):

Peer Review Report
Acceptance Letter from the peer review program
Letter of Response, if applicable
Completion Letter, if applicable

These documents should be submitted via a secure website or other secure means within 30 days of receipt from the sponsoring organization. Firms are required to participate in the AICPA Facilitated State Board Access (FSBA) program.

Consequences of Non-Compliance

Oregon Board of Accountancy

Pennsylvania

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Pennsylvania, CPAs are required to complete CPE to maintain their licensure. Below is a comprehensive overview of the CPE requirements:

CPE Reporting Period and License Renewal

Reporting Period: Biennial, from January 1 of even-numbered years to December 31 of odd-numbered years.
License Renewal: Licenses expire on December 31 of odd-numbered years.

General CPE Requirements

Total Hours: 80 CPE hours over the two-year reporting period.
Annual Minimum: At least 20 CPE hours must be completed each calendar year.
Ethics Requirement: 4 CPE hours in professional ethics during each reporting period.

Subject-Specific Requirements

CPAs Providing Attest Services:
- 24 CPE hours in Accounting and Auditing (A&A).
- 52 CPE hours in Professional Development.
CPAs Not Providing Attest Services:
- 76 CPE hours in Professional Development.

Acceptable CPE Activities

Group Study Programs: No maximum; 1 CPE hour awarded for each 50 minutes of participation.
Individual Study Programs:
- Interactive: 1 CPE hour for each 50 minutes.
- Noninteractive: 1 CPE hour for each 100 minutes.
- Maximum of 40 CPE hours from individual study programs per reporting period.
Instruction and Authorship:
- Instructors receive 3 CPE hours for each 50 minutes of instruction, including up to 2 hours of preparation time.
- Maximum of 40 CPE hours for instruction per reporting period.
- Authorship of relevant publications can earn up to 20 CPE hours, with a combined maximum of 40 hours for authorship and individual study.

Documentation and Recordkeeping

Documentation: Acceptable forms include certificates of completion, academic transcripts, attendance verification forms, and copies of publications.
Record Retention: Licensees must retain documentation for 5 years after the completion date of each CPE activity.

Non-Compliance and Penalties

Disciplinary Action: Failure to comply with CPE requirements may result in disciplinary action, including fines and license suspension.
Remediation: Licensees disciplined for non-compliance must make up deficient CPE hours and submit documentation within 6 months.

Pennsylvania State Board of Accountancy

Peer Review

In Pennsylvania, CPA firms that perform certain attest services are required to participate in a peer review program to ensure compliance with professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program within 18 months of issuing their first report that falls under the peer review requirement.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Pennsylvania State Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews. In Pennsylvania, the Pennsylvania Institute of Certified Public Accountants (PICPA) administers the peer review program.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Pennsylvania State Board of Accountancy:

Peer Review Report
Acceptance Letter from the peer review program
Letter of Response, if applicable
Completion Letter, if applicable

Consequences of Non-Compliance

Pennsylvania Institute of CPAs

Rhode Island

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Rhode Island, CPAs are required to complete CPE to maintain their licensure. Below is a comprehensive overview of the CPE requirements:

CPE Reporting Period and License Renewal

Reporting Period: Triennial, from July 1 to June 30 every three years.
License Renewal: Licenses expire on June 30 of the third year. Renewal applications must be submitted online by 11:59 PM on the expiration date.

General CPE Requirements

Total Hours: 120 CPE hours over the three-year reporting period.
Ethics Requirement: A minimum of 6 CPE hours in professional ethics during each reporting period.

Subject-Specific Requirements and Limitations

Self-Study Courses: Limited to 80 CPE hours per reporting period. Courses must be interactive or approved by the NASBA Quality Assurance Service (QAS).
Instruction and Authorship: Credit for teaching or authoring is capped at 60 CPE hours per reporting period. Preparation time is limited to twice the length of the presentation.
Personal Development and Marketing: Limited to 24 CPE hours per reporting period. This includes subjects like communications, business management, and personal development.

Acceptable CPE Activities

In-Person Courses: Formal programs that enhance professional competence.
Remotely Delivered Courses: Accepted if they include reasonable and reliable attendance verification mechanisms, such as interactive polling questions or periodic prompts.
University or College Courses: Accepted if they enhance professional competency. For graded courses, a passing grade is required.

Documentation and Recordkeeping

CPE Reporting Form: Licensees must upload a completed CPE Reporting Form during the renewal process. If there are too many courses to list, an Excel spreadsheet with the same headings can be attached.
Record Retention: Licensees must retain documentation of CPE activities for the current and preceding renewal periods.

Non-Compliance and Penalties

Audits: The Board may perform random or for-cause audits of licensees' compliance with CPE requirements. Failure to produce documentation may result in disciplinary action, including fines up to $1,000.
Penalties: Penalties for non-compliance range from warning letters to license suspension, depending on the number of CPE hours completed and prior offenses.

Rhode Island Board of Accountancy

Peer Review

In Rhode Island, CPA firms that provide attest or compilation services are required to undergo a peer review to ensure compliance with professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Engagements performed in accordance with the Statements on Standards for Attestation Engagements (SSAE)

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program within 18 months of issuing their first report that falls under the peer review requirement.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Rhode Island Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program, the New England Peer Review, and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Rhode Island Board of Accountancy:

Peer Review Report
Acceptance Letter from the peer review program
Letter of Response, if applicable
Completion Letter, if applicable

These documents should be submitted via a secure website or other secure means within 30 days of receipt from the sponsoring organization.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include fines up to $250, suspension of the CPA certificate, or other penalties.

Rhode Island Board of Accountancy

South Carolina

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In South Carolina, CPAs are required to complete CPE annually to maintain their licensure. Below is a comprehensive overview of the CPE requirements:

CPE Reporting Period and License Renewal

CPE Reporting Period: January 1 to December 31 annually.
License Renewal Deadline: January 31 each year.
CPE Reporting Deadline: CPE reports must be submitted by February 1 following the reporting year.

General CPE Requirements

Total Hours: 40 CPE hours are required each calendar year.
Ethics Requirement: A minimum of 2 CPE hours in ethics annually. This can be fulfilled with any behavioral or regulatory ethics course; a South Carolina-specific ethics course is no longer mandatory.

Carryover Policy

Standard Licensees: Up to 20 excess CPE hours can be carried over to the next reporting year.
CPA Retired Status: May carry over up to 10 hours. Note that carryover hours cannot be applied to the ethics requirement.

Accepted CPE Formats and Limitations

Self-Study Courses: No limit on self-study hours, provided courses are from NASBA Quality Assurance Service (QAS) approved sponsors.
Nano-Learning: Up to 4 hours per year can be earned through nano-learning formats.
Daily Maximum: A maximum of 12 CPE hours can be earned in a single calendar day.

Instruction and Authorship Credits

Teaching: Instructors can earn 2 CPE hours for each hour of presentation. Repeat presentations are only eligible if the material has been substantially changed.
Authorship: Writing published articles, books, or CPE programs can earn up to 10 CPE hours per year.

University and College Courses

Course Credit: One semester hour equals 15 CPE hours; one quarter hour equals 10 CPE hours.
Teaching Credit: Professors and instructors can earn 10 CPE hours for each 3-semester-hour course taught, limited to 10 hours per year.

Documentation and Recordkeeping

Record Retention: Licensees must retain documentation of CPE activities for a minimum of 5 years.
CPE Reporting: CPE reports can be submitted via the NASBA CPE Audit Service or through document submission to the South Carolina Board of Accountancy.

Non-Compliance and Penalties

Audits: The Board conducts annual audits of CPE compliance. Failure to comply may result in disciplinary action, including fines or license suspension.

South Carolina Board of Accountancy

Peer Review

In South Carolina, CPA firms that provide certain services are required to participate in a peer review program to ensure compliance with professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial statements
Compilations of prospective financial statements
Agreed-upon procedures of prospective financial statements
Examination of written assertions
Agreed-upon procedures of written assertions

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program upon the issuance of the first report provided to a client.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The South Carolina Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews.

Reporting and Compliance

After completing a peer review, firms must provide the following to the South Carolina Board of Accountancy upon request:

Peer review due date
Peer review year-end date
Peer review acceptance letter from the peer review program

A peer review is not considered complete until the peer review acceptance letter is issued by the peer review program. If a firm fails to complete the peer review in a timely fashion, the Board may refuse to renew the firm registration and/or take disciplinary action as appropriate.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm registration and other penalties.

South Carolina Board of Accountancy

South Dakota

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In South Dakota, CPAs holding an active certificate are required to fulfill CPE requirements to maintain licensure. Below is an overview of these requirements:

CPE Reporting Period and License Renewal

CPE Reporting Period: July 1 to June 30, on a rolling three-year basis.
License Renewal Deadline: August 1 annually.

General CPE Requirements

Total Hours: 120 CPE hours over the rolling three-year period.
Annual Minimum: At least 20 CPE hours must be completed each year.
Ethics Requirement: There is no specific ethics CPE requirement in South Dakota.

Subject-Specific Limitations

Behavioral/Motivational Courses: For those engaged in public accounting, no more than 24 hours of behavioral or motivational courses are permitted in a three-year reporting period.

Acceptable CPE Activities

Instruction: Instructors may receive credit for both preparation and presentation time, with preparation credit limited to twice the presentation time. For repeat presentations, credit is only granted if substantial changes are made to the material.
University or College Courses:
- 1 semester hour equals 15 CPE hours.
- 1 quarter hour equals 10 CPE hours.
- Non-credit courses are credited based on actual classroom time.
Published Materials: Credit may be granted for writing published articles, books, or CPE programs, including research and writing time, provided the work is formally reviewed by an independent party. This credit is limited to 50% of the required hours in a reporting period.
Self-Study and Nano Learning: Courses must be from a NASBA-approved provider.

Documentation and Recordkeeping

Evidence of Completion: Acceptable documentation includes certificates of completion, transcripts, or other verification provided by the CPE program sponsor.
Record Retention: Licensees should retain CPE documentation for at least four years.

Non-Compliance and Extensions

Extensions: If unable to meet the CPE requirements, licensees may request a 90-day extension from the Board. Further extensions require a formal petition explaining the reasons and the additional time needed.

South Dakota Board of Accountancy

Peer Review

In South Dakota, CPA firms that provide certain financial reporting services are required to undergo a peer review to ensure adherence to professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first repot in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: New firms providing financial reporting services must undergo a peer review after being in a business for one year.
Subsequent Reviews: Firms are required to undergo subsequent peer review every three years.

Approved Peer Review Programs

The South Dakota Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews. Firms may choose an administering entity such as the Oklahoma Society of CPAs or another state society.

Reporting and Compliance

After completing a peer review, firms must submit the following to the South Dakota Board of Accountancy within 30 days of receiving the final acceptance letter:

Final Acceptance Letter from the peer review program
Peer Review Report
Reviewer's Findings for Further Consideration (FFCs), if applicable
Firm's Response to the FFCs, if applicable

These documents should be submitted directly to the Board office. Participation in the AICPA's Facilitated State Board Access (FSBA) program does not fulfill the submission requirement.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in South Dakota may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the exemption statement on the Firm Permit Application.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

South Dakota Board of Accountancy

Tennessee

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Tennessee, CPAs are required to complete CPE to maintain active licensure. Below is a comprehensive overview of the CPE requirements:

CPE Reporting Period and License Renewal

Reporting Period: Biennial, from January 1 to December 31. CPAs with even-numbered licenses renew in even-numbered years; those with odd-numbered licenses renew in odd-numbered years.
License Renewal Deadline: December 31 of the applicable year.

General CPE Requirements

Total Hours: 80 CPE hours every two years.
Annual Minimum: At least 20 CPE hours must be completed each year.
Technical Subjects: A minimum of 40 hours must be in technical subjects, which include accounting, auditing, taxation, business law, economics, finance, information technology, management services, regulatory ethics, specialized knowledge, and statistics.
Ethics Requirement: 2 hours of a Board-approved Tennessee-specific ethics course are required every two years.

Subject-Specific Requirements

Attest Services: If performing attest services (including compilations), at least 20 of the 40 technical hours must be in accounting and auditing.
Expert Witness Testimony: If providing expert witness testimony, at least 20 hours must be in the general area in which the court deems you an expert, such as tax or auditing.

Carryover Policy

Standard Reporting Period: If you exceed the 80-hour requirement in a two-year period, you may carry over up to 24 hours to the next reporting period.
First Renewal: New CPAs who have held a license for more than one year but less than the full two-year reporting period must earn at least 40 hours, including 20 technical hours and 2 hours of Board-approved state ethics. Up to 12 hours may be carried over to the next period.

Acceptable CPE Activities

In-Person and Online Courses: Accepted if provided by approved sponsors.
Self-Study Courses: Must be from NASBA Quality Assurance Service (QAS) approved sponsors.
University or College Courses: Accepted if they enhance professional competency. For credit courses, 1 semester hour equals 15 CPE hours; 1 quarter hour equals 10 CPE hours.
Instruction and Authorship: Credit for teaching or authoring is capped at 50% of total hours. Preparation time is limited to twice the length of the presentation.

Documentation and Recordkeeping

CPE Reporting: Licensees must maintain documentation of CPE activities, including certificates of completion, transcripts, or other verification provided by the CPE program sponsor.
Record Retention: Licensees should retain CPE documentation for at least five years.

Non-Compliance and Penalties

Audits: The Board conducts annual audits of CPE compliance. Failure to comply may result in disciplinary action, including fines or license suspension.

Tennessee State Board of Accountancy

Peer Review

In Tennessee, CPA firms that provide attest services are required to participate in a peer review program to ensure adherence to professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program upon the issuance of the first report provided to a client.
Initial Review: The initial peer review must be completed within 18 months of enrollment.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Tennessee State Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and other programs that substantially comply with the AICPA Standards for Performing and Reporting on Peer Reviews.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Tennessee State Board of Accountancy:

Peer Review Report
Letter of Response, if applicable
Acceptance Letter from the peer review program
Letter of Agreement, if applicable

These documents should be submitted via the Board's online system or other secure means.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in Tennessee may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the exemption statement on the Firm Permit Application.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

Tennessee State Board of Accountancy

Texas

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Texas, CPAs are required to fulfill CPE requirements to maintain active licensure. Below is a comprehensive overview of these requirements:

CPE Reporting Period and License Renewal

CPE Reporting Period: Three-year rolling period ending on the last day of the CPA's birth month.
License Renewal Deadline: Annually, by the last day of the CPA's birth month.

General CPE Requirements

Total Hours: 120 CPE hours over the three-year reporting period.
Annual Minimum: At least 20 CPE hours must be completed each year.
Ethics Requirement: A 4-hour ethics course approved by the Texas State Board of Public Accountancy (TSBPA) must be completed every two years.

Subject-Specific Limitations

Non-Technical Courses: No more than 50% of the total CPE hours in a three-year period may be from non-technical courses.
Nano Learning: Limited to 50% of the total CPE hours in a three-year period.
Instruction: Maximum of 20 hours per year for teaching CPE courses. Credit is equal to three times the presentation hours.
Published Materials: Up to 10 hours per year for authorship or review of published articles and books.

Acceptable CPE Activities

In-Person and Online Courses: Accepted if provided by Board-registered sponsors.
Self-Study Courses: Must be from sponsors registered with the TSBPA.
University or College Courses: Accepted if they enhance professional competency. One semester hour equals 15 CPE hours; one quarter hour equals 10 CPE hours.
Instruction and Authorship: Credit for teaching or authoring is subject to the limitations mentioned above.

Documentation and Recordkeeping

CPE Reporting: Licensees can report CPE courses throughout the year using the TSBPA's online services.
Record Retention: Licensees should retain documentation of CPE activities for at least five years.

Non-Compliance and Penalties

Audits: The TSBPA conducts audits to ensure compliance with CPE requirements. Failure to comply may result in disciplinary action, including fines or license suspension.

Texas State Board of Public Accountancy

Peer Review

In Texas, CPA firms that provide specific attest services are required to participate in a peer review program to ensure adherence to professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program upon the issuance of the first report provided to a client.
Initial Review: The initial peer review must be completed within 18 months of enrollment.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Texas State Board of Public Accountancy (TSBPA) recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and the Texas Society of Certified Public Accountants (TXCPA) Peer Review Program as approved sponsoring organizations.

Reporting and Compliance

After completing a peer review, firms must submit the following to the TSBPA:

Peer Review Compliance Reporting Form (Form L0027)
Peer Review Report
Final Letter of Acceptance from the peer review program
Letter of Response, if applicable
Corrective Action Letter, if applicable

These documents should be submitted within 30 days of receipt from the sponsoring organization.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in Texas may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the Affidavit for Peer Review (Form L0031) and submit it to the TSBPA.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

Texas State Board of Public Accountancy

Utah

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Utah, CPAs must complete CPE to maintain active licensure. Below is a comprehensive overview of the current requirements:

CPE Reporting Period and License Renewal

Reporting Period: Biennial, from January 1 to December 31 of even-numbered years.
License Renewal Deadline: December 31 of even-numbered years.

General CPE Requirements

Total Hours: 80 CPE hours every two years.
Ethics Requirement: 4 hours of ethics education, which must include:
- 1 hour covering the Utah CPE Licensing Act and associated rules.
- 3 hours covering topics such as the AICPA Code of Professional Conduct, case-based instruction on real-life situations, ethical dilemmas faced by accounting professional, or business ethics.
First-Time Renewal: No CPE is required for the first renewal following initial licensure.

Subject-Specific Requirements

There are no specific subject area requirements beyond the ethics component.

Carryover Policy

Licensees may carry forward up to 40 hours of excess CPE to the next reporting period.

Acceptable CPE Activities

Self-Study: Permitted without limitation; courses must adhere to AICPA/NASBA standards.
In-House Training: Accepted when involving two or more licensed CPAs and presented by a subject matter expert.
University or College Courses:
- 1 semester hour equals 15 CPE hours.
- 1 quarter hour equals 10 CPE hours.
Instruction and Authorship: Credit is granted for teaching and writing, subject to specific limitations.

Documentation and Recordkeeping

CPE Reporting: Licensees must report CPE hours through NASBA's CPE Audit Service.
Record Retention: Licensees should retain documentation of CPE activities for at least five years.

Non-Compliance and Penalties

Audits: The Division of Occupational and Professional Licensing (DOPL) conducts audits to ensure compliance with CPE requirements.
Extensions and Waivers: Licensees may request an extension or waiver due to circumstances such as medical conditions or humanitarian service.

Utah Association of CPAs

Peer Review

In Utah, CPA firms that provide attest services are required to participate in a peer review program to ensure adherence to professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program upon the issuance of the first report provided to a client.
Initial Review: The initial peer review must be completed within 18 months of enrollment.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Utah Division of Occupational and Professional Licensing (DOPL) recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and the Nevada Society of CPAs (NVCPA) Peer Review Program as approved sponsoring organizations. The NVCPA administers peer reviews for Utah CPA firms.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Utah Division of Occupational and Professional Licensing (DOPL):

Peer Review Report
Letter of Response, if applicable
Final Letter of Acceptance from the peer review program
Letter of Agreement, if applicable

These documents should be submitted within 30 days of receipt from the sponsoring organization.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in Utah may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the exemption statement on the Firm Permit Application.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

Utah Division of Occupational and Professional Licensing

Vermont

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

In Vermont, CPA firms that perform attest services are required to participate in a peer review program approved by the Vermont Board of Public Accountancy. This requirement ensures that firms maintain high standards of professional practice.

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program within 30 days of issuing their first attest report.
Initial Review: The initial peer review must be completed within 18 months of the year-end date of the first attest engagement.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Vermont Board of Public Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and the New England Peer Review (NEPR) Program as approved sponsoring organizations. NEPR administers the AICPA Peer Review Program for CPA firms in Vermont.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Vermont Board of Public Accountancy:

Peer Review Report
Letter of Response, if applicable
Final Letter of Acceptance from the peer review program
Letter of Agreement, if applicable

These documents should be submitted within 30 days of receipt from the sponsoring organization.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in Vermont may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the exemption statement on the Firm Permit Application.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

State of Vermont Agency of Education

Virginia

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

Peer Review

Washington

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Washington State, CPAs are required to completed CPE to maintain active licensure. Below is a comprehensive overview of these requirements:

CPE Reporting Period and License Renewal

Reporting Period: Triennial, from January 1 to December 31.
License Renewal Deadline: April 30 every three years.

General CPE Requirements

Total Hours: 120 CPE hours every three years.
Annual Minimum: At least 20 CPE hours must be completed each calendar year.
Ethics Requirement: 4 hours of a Washington State Board-approved ethics and regulations course must be completed within each three-year reporting period.

Subject-Specific Limitations

Non-Technical Subjects: No more than 60 CPE hours in non-technical subjects per three-year period.
Nano Learning: Limited to 12 CPE hours per three-year period.
Instruction and Authorship: Combined maximum of 60 CPE hours per three-year period for first-time instruction/development of courses and authorship of relevant publications.

Acceptable CPE Activities

Formal Programs: Courses must be at least 50 minutes in length and contribute to professional competence.
Self-Study Courses: Accepted if they meet NASBA standards.
University or College Courses: Accepted; 1 semester hour equals 15 CPE hours, and 1 quarter hour equals 10 CPE hours.
Instruction and Authorship: Credit is granted for teaching and writing, subject to the limitations mentioned above.

Documentation and Recordkeeping

CPE Reporting: CPAs must log completed CPE hours into the CPE tracker available through the Washington Board of Accountancy's online services.
Record Retention: CPAs should retain documentation of CPE activities for at least three years after the end of the reporting period.

Non-Compliance and Penalties

Audits: The Washington Board of Accountancy conducts random audits to ensure compliance with CPE requirements.
Extensions: CPAs who do not meet CPE requirements by the end of the reporting period may request a CPE extension during the renewal process.

Washington State Board of Accountancy

Peer Review

In Washington State, CPA firms that perform attest services are required to participate in a peer review program to ensure adherence to professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program before issuing their first attest report.
Initial Review: The initial peer review must be completed within 18 months of enrollment.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Washington State Board of Accountancy (WBOA) recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program. As of May 1, 2023, the administration of the peer review program for Washington CPA firms has been transferred to the Colorado Society of CPAs (COCPA). Firms should contact the COCPA for enrollment and administration details.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Washington State Board of Accountancy:

Peer Review Report
Letter of Response, if applicable
Final Letter of Acceptance from the peer review program
Letter of Agreement, if applicable

These documents should be submitted within 30 days of receipt from the sponsoring organization.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in Washington may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the exemption statement on the Firm Permit Application.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, ay result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

Washington State Board of Accountancy

West Virginia

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In West Virginia, CPAs are required to complete CPE to maintain active licensure. Below is a comprehensive overview of these requirements:

CPE Reporting Period and License Renewal

CPE Reporting Period: Rolling three-year period ending on December 31.
License Renewal Deadline: Annually by June 30.
CPE Completion Deadline: December 31 each year.
CPE Reporting Deadline: January 31 following the completion year.

General CPE Requirements

Total Hours: 120 CPE hours every three years.
Annual Minimum: At least 20 CPE hours must be completed each calendar year.
Ethics Requirement: 4 hours of ethics education are required every three years.

Subject-Specific Requirements

Accounting Principles: Courses in principles of accounting do not count for credit for attendance or instruction.

Carryover Policy

Carryover: Excess CPE hours cannot be carried over to the next reporting period.

Acceptable CPE Activities

Self-Study: Accepted without limitation; courses must adhere to AICPA/NASBA standards.
University or College Courses:
- 1 semester hour equals 15 CPE hours.
- 1 quarter hour equals 10 CPE hours.
Instruction and Authorship:
- Credit is granted for teaching and writing, subject to specific limitations.
- Maximum credit for instructors is 60 hours per course per year without repetitions unless there have been substantial changes in material.
- Maximum credit for published articles/books is 60 hours per publication.

Documentation and Recordkeeping

CPE Reporting: Licensees must report CPE hours by January 31 following the completion year.
Record Retention: Licensees should retain documentation of CPE activities for at least five years.

Non-Compliance and Penalties

Late Filing: CPE late filing requests submitted on or after February 1 will be accepted with the payment of $150.
Extensions and Waivers: Licensees may request an extension or waiver due to circumstances such as medical conditions or military service.

West Virginia Board of Accountancy

Peer Review

In West Virginia, CPA firms that perform attest or compilation services are required to participate in a peer review program to ensure adherence to professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program upon the issuance of the first report provided to a client.
Initial Review: The initial peer review must be completed within 18 months of enrollment.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The West Virginia Board of Accountancy recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and the West Virginia Society of CPAs (WVSCPA) Peer Review Program as approved sponsoring organizations. The WVSCPA administers peer reviews for West Virginia CPA firms.

Reporting and Compliance

After completing a peer review, firms must submit the following to the West Virginia Board of Accountancy:

Peer Review Report
Letter of Response, if applicable
Final Letter of Acceptance from the peer review program
Letter of Agreement, if applicable

These documents should be submitted within 30 days of receipt from the sponsoring organization.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in West Virginia may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the exemption statement on the Firm Permit Application.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

West Virginia Board of Accountancy

Wisconsin

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Wisconsin, CPAs are required to complete CPE to maintain active licensure. Below is a comprehensive overview of these requirements:

CPE Compliance Period and License Renewal

Compliance Period: Biennial, from January 1 of an even-numbered year to December 31 of the following odd-numbered year.
License Renewal Deadline: December 14 of each odd-numbered year.

General CPE Requirements

Total Hours: 80 CPE credits every two years.
Annual Minimum: At least 20 CPE credits must be completed each calendar year.
Formal Learning Activities: A minimum of 40 CPE credits must be obtained through formal learning activities.
Ethics Requirement: 3 CPE credits in ethics must be completed through formal learning activities during each compliance period.

Carryover and Carryback Policy

Carryover: Up to 40 CPE credits, including a maximum of 3 ethics credits, may be carried over to the next consecutive compliance period.
Carryback: CPE credits earned during the first 12 months of a compliance period may be carried back to the immediately preceding compliance period to satisfy its requirements, provided they are not used to satisfy requirements for more than one compliance period.

Acceptable CPE Activities

Formal Learning Activities: Include courses where participation can be objectively confirmed by a program sponsor, with specified subject matter, prerequisites, format, and credit hours.
Informal Learning Activities: Include self-directed learning such as reading professional literature, attending meetings, or watching educational videos. Documentation must include details like the format, date, subject matter, and materials used.
Credit Calculation: 50 minutes of participation equals 1 CPE credit. Credits may be claimed in increments of one-tenth of a credit (5 minutes).

Documentation and Recordkeeping

Record Retention: Licensees must retain documentation of each activity for which CPE credits are claimed for at least five years from the date of completion.
Certification Statement: At the time of each renewal, licensees must sign a statement certifying that the required CPE credits have been completed.

Non-Compliance and Penalties

Failure to Complete CPE: Licensees who fail to complete the required CPE may not practice as a CPA in Wisconsin until the license is renewed or reinstated.
Waivers: The Board may waive all or a portion of the CPE requirements in cases of exceptional circumstances such as prolonged illness or disability.

Wisconsin Department of Safety and Professional Services

Peer Review

In Wisconsin, CPA firms that perform attest services are required to undergo a peer review to ensure adherence to professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program upon the issuance of the first report provided to a client.
Initial Review: The initial peer review must be completed within 18 months of enrollment.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Wisconsin Accounting Examining Board recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and the Wisconsin Institute of CPAs (WICPA) Peer Review Program as approved sponsoring organizations. The WICPA administers peer reviews for Wisconsin CPA firms.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Wisconsin Accounting Examining Board:

Peer Review Report
Letter of Response, if applicable
Final Letter of Acceptance from the peer review program
Letter of Agreement, if applicable

These documents should be submitted within 30 days of receipt from the sponsoring organization.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in Wisconsin may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the exemption statement on the Firm Permit Application.

Consequences of Non-Compliance

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

Wisconsin Department of Safety and Professional Services

Wyoming

Business Entity Options for CPAs

Forming an Entity with the Secretary of State

Registering with the State Board of Accountancy

Sales Tax on Professional Services

Continuing Professional Education

In Wyoming, CPAs must complete CPE to maintain active licensure. Below is a comprehensive overview of these requirements:

CPE Reporting Period and License Renewal

CPE Reporting Period: Rolling three-year period ending on December 31 each year.
License Renewal Deadline: Annually by December 31.

General CPE Requirements

Total Hours: 120 CPE hours over the rolling three-year period.
Annual Minimum: No specific annual minimum; however, CPAs are encouraged to complete CPE hours annually to avoid last-minute accumulation.
Ethics Requirement: 4 hours of Board-approved regulatory and professional ethics every three years.

Subject-Specific Requirements

Technical Subjects (Code A): At least 80 hours in subjects such as accounting, auditing, taxation, business law, economics, finance, information technology, management services, regulatory ethics, specialized knowledge, statistics, and computer science.
Non-Technical Subjects (Code B): Up to 40 hours in areas like behavioral ethics, communication, personal development, personnel/human resources, and other fields contributing to professional competence.

Acceptable CPE Activities and Limitations

Self-Study: Accepted without limitation; courses must adhere to AICPA/NASBA standards.
Independent Study: Limited to 12 hours in any three-year period; requires a contract with a qualified sponsor.
Instruction: Credit is granted for teaching, subject to a maximum of 60 hours in any three-year period.
Authorship: Credit is granted for writing published materials, subject to a maximum of 30 hours in any three-year period.
Nano Learning: Limited to 10 hours per year.

Documentation and Recordkeeping

CPE Reporting: CPAs must report completed CPE hours during the license renewal process.
Record Retention: CPAs should retain documentation of CPE activities for at least four years.

Non-Compliance and Penalties

Extensions: CPAs unable to complete CPE requirements by December 31 may request an automatic 90-day extension (until March 31) during the renewal process. Additional extensions require formal requests and are subject to Board approval.
Penalties: Failure to comply with CPE requirements may result in disciplinary action, including fines or license suspension.

Wyoming Board of Certified Public Accountants

Peer Review

In Wyoming, CPA firms that perform certain attest services are required to undergo a peer review to ensure adherence to professional standards. Below is a comprehensive overview of these requirements:

Applicability of Peer Review

CPA firms must undergo a peer review if they perform any of the following services:

Audits
Reviews of financial statements
Compilations of financial statements
Examinations of prospective financial information
Agreed-upon procedures engagements

Firms that do not perform these services are not required to undergo a peer review until they issue their first report in these areas. Upon issuing such a report, the firm must enroll in an approved peer review program. Continued participation in a qualified peer review program is required as long as these services are provided.

Enrollment and Review Deadlines

Initial Enrollment: Firms must enroll in an approved peer review program upon the issuance of the first report provided to a client.
Initial Review: The initial peer review must be completed within 18 months of enrollment.
Subsequent Reviews: Firms are required to undergo subsequent peer reviews every three years.

Approved Peer Review Programs

The Wyoming Board of Certified Public Accountants recognizes the American Institute of Certified Public Accountants (AICPA) Peer Review Program and the Nevada Society of CPAs (NVSCPA) Peer Review Program as approved sponsoring organization. The NVSCPA administers peer reviews for Wyoming CPA firms.

Reporting and Compliance

After completing a peer review, firms must submit the following to the Wyoming Board of Certified Public Accountants:

Peer Review Report
Letter of Response, if applicable
Final Letter of Acceptance from the peer review program
Letter of Agreement, if applicable

These documents should be submitted within 30 days of receipt from the sponsoring organization.

Exemption from Peer Review

Firms that do not engage in the financial reporting area of practice in Wyoming may apply for an exemption from the peer review requirement. This includes firms that do not perform audits, reviews, compilations, or other attest services. To claim the exemption, firms must complete and sign the exemption statement on the Firm Permit Application.

Consequences of Non-Compliace

Failure to comply with peer review requirements, including timely enrollment and completion of the peer review, may result in disciplinary action by the Board. This can include refusal to renew the firm permit and other penalties.

Wyoming Board of Certified Public Accountants