CPE, or continuing professional education, is a fact of life for certified public accountants and other professionals.
But the internet is awash with questions about why CPE classes and credits are important, how many classes you need per year, how to get recognition for the credits, and where you can actually take CPE courses.
So here are some of the top questions with some helpful answers.
What Are CPE Credits?
CPE stands for “continuing professional education” and a CPE credit is a credit you can earn for completing a class or other learning activity intended to improve your professional competence in your field.
How Many Hours Is 1 CPE Credit?
For Certified Public Accountants (CPAs), 1 CPE credit is equivalent to 50 minutes of approved learning.
How Many CPE Credits Do CPAs Need Each Year?
As per the AICPA, CPAs are required to complete 120 CPE credits every three years, which basically breaks down to 40 per year.
However, it is important to recognize that each state Board of Accountancy has its own rules for Continuing Professional Education, so make sure you refer to your state’s CPE requirements as well.
Why Is Continuing Professional Education Important?
The concept of Continuing Education (CE) is important in any industry, not just in the accounting industry.
Pursuing Continuing Education opportunities through CPE courses will keep you up to date on current legislation and regulations in your industry while keeping you current on industry trends as well.
Pursuing CPE will also help you become more confident, more competent, and give you the skills and abilities you need to better and more fully serve the clients that rely on you.
What Is the Difference Between CPE and CEU?
CPE and CEU are similar and related but not the same thing. CPE (as already explained) stands for Continuing Professional Education, whereas CEU stands for Continuing Education Unit.
A CPE credit is equivalent to 50 minutes of approved learning whereas a CEU amounts to 10 contact hours.
What Happens If CPE Hours Are Not Completed?
Every state Board of Accountancy has its own standards for how CPE audits are conducted, but regardless, if you fail to properly document or submit your CPE credits and subsequently fail a CPE audit, you can lose your professional certification, which can result in adverse effects on your professional standing, earning potential, and overall career growth. Those who fail CPE audits may also be subject to fines and other disciplinary action.
What Bodies Oversee Continuing Professional Education?
The two main bodies that oversee continuing professional education for accountants are NASBA and AICPA.
NASBA, or the National Association of State Boards of Accounting, oversees the 55 CPA license boards that operate in the United States and territories. The AICPA, or American Institute of Certified Public Accounts, helps set standards for CPAs and is an advocate for accounts and interested governmental bodies.
The Controllers Council is another body that provides training and resources for accountants.
Can I Take CPE Courses Online?
Yes, you can take CPE courses online, although there are many other ways to go about taking continuing professional education courses. You can also attend seminars, conferences, tech webinars, and trainings.
What Types of CPE Courses Are Available Online?
There are a wide range of CPE courses available online. Here at CPE Online, we offer courses relevant to:
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Accounting and auditing (covering financial accounting, profit planning and controlling, and more)
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Taxation courses (including individual and corporate taxation)
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State-specific Ethics
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Business analysis and planning
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Mergers and acquisitions
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Real estate
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Management development
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Treasury operation
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ESG regulatory reporting
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And much more
Live webinars, evening and weekend courses, and self-study programs are available in our catalog of CPE courses. We’ve been providing CPE courses for over 30 years and conduct over 2,000 live webinars, seminars, and conferences each year.
How Do You Document CPE Credits?
In order to get credit for the CPE courses you take, make sure you get a certificate of completion or other documentation from the organization conducting the class, course, or session so that you can submit it to the regulatory board that oversees your accreditation. This certification is also necessary to protect you in the event of a CPE audit.
Are CPAs the Only Ones That Need to Take CPE Courses?
While CPAs are required to complete a set number of CPE credits every three years (or every year, according to the requirements of their state Board of Accountancy) other professionals from a range of industries, must also complete CPE credits.
Questions About CPE Courses and Credits?
If you don’t see your question about CPE credits listed here, please feel free to reach out to us directly at 1-800-544-1114 and we will be happy to help.