Continuing Education
Advancing professional excellence: Best practices for continuing professional education for CPAs
Introduction
Does your organization want to offer continuing professional education for CPAs? Certified Public Accountants (CPAs) must take continuing professional education (CPE) to maintain their professional competence and ensure they remain updated with the latest developments in the accounting field.
Offering continuing professional education for CPAs can seem like a challenging task, but it doesn’t need to be. Read our blog for helpful best practices to get started today.
What is continuing professional education for CPAs?
Continuing professional education (CPE) is a mandatory requirement for CPAs. It involves engaging in various educational activities that enhance a CPA’s knowledge, skills, and abilities. The importance of CPE lies in its role in ensuring CPAs provide high-quality services, comply with ethical standards, and adapt to the ever-evolving financial landscape.
The primary objectives of CPE include maintaining and improving professional competence, staying informed about industry changes, and fulfilling regulatory requirements. CPE also aims to support CPAs in their career advancement by equipping them with the latest tools and knowledge required to excel in their roles.
What are the continuing professional education requirements for CPAs?
CPAs must complete a certain number of CPE hours annually to maintain their licenses. These requirements vary depending on the jurisdiction, with most states mandating 40 hours of CPE per year. CPAs must choose courses that are relevant to their field and approved by their state boards of accountancy.
Each state has specific CPE requirements for CPAs. For instance, some states might require CPAs to complete ethics training as part of their CPE, while others might have additional requirements for CPAs working in specialized areas. It’s essential for CPAs to check their state board’s guidelines to ensure compliance.
The American Institute of CPAs (AICPA) also sets forth CPE requirements for its members. While these are often like state requirements, AICPA may have additional or more stringent guidelines, particularly for those holding specific AICPA credentials. AICPA members generally need to complete 120 hours of CPE every three years, with specific requirements for ethics training.
What types of CPE courses are available?
When it comes to offering continuing professional education for your CPAs, you’ll want to offer options to increase accessibility and reach as many of your learners as possible. Delivering your content multi-modally is also a fantastic way to attract more learners to your program.
Consider leveraging your learning management system (LMS) to streamline course and credit management when offering the following options:
1. Self-study or on-demand courses
Self-study or on-demand courses offer flexibility, allowing CPAs to learn at their own pace and on their own schedule. These courses can include reading materials, recorded or rebroadcasted lectures, and interactive modules. They are an excellent option for CPAs who prefer to manage their learning independently.
2. Webinars and webcasts
Webinars and webcasts provide real-time learning opportunities where CPAs can interact with instructors and peers. These online sessions cover various topics and often include live Q&A segments. Webinars are particularly useful for staying updated on current trends and regulatory changes.
3. In-person workshops and seminars
For CPAs who prefer face-to-face learning, in-person workshops and seminars offer hands-on experience and networking opportunities. These events often focus on specific topics, allowing participants to engage deeply with the material and connect with industry experts.
How CPAs can find and select CPE courses
Choosing the right CPE provider is crucial for ensuring that the courses are accredited and meet the necessary standards. Reputable CPE providers include professional organizations like AICPA, state CPA societies, and recognized online education platforms.
CPAs should select courses that align with their career goals and areas of specialization. Whether it’s tax, audit, financial planning, or ethics, focusing on relevant topics ensures that the CPE experience is both beneficial and applicable to their professional practice.
Many providers offer subscription packages that allow CPAs to access a variety of courses throughout the year. These packages can be more cost-effective than purchasing individual courses, especially for CPAs who need to complete multiple hours of CPE annually.
What are the benefits of CPE courses for CPAs?
CPE helps CPAs develop and refine their skills, making them more effective in their roles. By staying current with industry practices, CPAs can provide better service to their clients and employers.
The accounting profession is constantly evolving, with new regulations, technologies, and practices emerging regularly. CPE ensures that CPAs remain informed about these changes, helping them to adapt and stay competitive in the marketplace.
Completing CPE is not just a regulatory requirement but also a professional responsibility. By fulfilling these requirements, CPAs demonstrate their commitment to maintaining the highest standards of the profession.
3 tips to help your CPAs maximize their CPE credits
To ensure your CPAs make the most out of their continuing professional education, follow these top tips:
1. Efficient time management
Planning and scheduling your CPE activities throughout the year can prevent the last-minute rush for your CPAs to meet their requirements. Time management is key to balancing work, life, and continuing education.
2. Offer high-impact courses
Your CPAs should focus on courses that offer the most value to their careers. Try offering high-impact courses that address current trends, emerging technologies, or specialized skills to provide significant professional benefits.
3. Track and report CPE credits
Keeping accurate records of your CPAs completed CPE credits is essential for compliance. Many states require CPAs to submit proof of their CPE activities, so maintaining organized documentation is crucial for your organization. Leverage your LMS to ensure you track and report all credits accurately.