CPE Credits for NJ CPAs

CPE credits for university and college courses are set forth in NJ regulations under sections 13:29-6.5(a)(2) and 13:29-6.8(a). These are set forth below.

As far as we understand these regulations, if a student is attending a three-credit course for credit (i.e., matriculated in the program), the student is entitled to claim forty-five (45) CPE credits for the course (Fifteen (15) CPE credits per each semester credit hour).

On the other hand, if a student is auditing a course (no credit earned), the regulations allow one (1) CPE credit for every 50 minutes of in-class participation. As a rule of thumb, since roughly 10 minutes is allotted for a break per each hour of class time, every one hour of class works out to be one (1) CPE credit.

Our three-credit courses consist of roughly 37 class hours. Students who audit a class (these are not taken for credit) must subtract out, and not count as CPE credits, time for which they are absent from class, and class time that is devoted to in-class exams that the auditing student is not taking. For example, if five (5) hours are devoted to in-class exams, a student auditing a class is entitled to claim a maximum of thirty-two (32) CPE credits.

As far as documentation is concerned, if classes were taken for credit, the student should obtain and keep an official transcript (the regulations call for a “certified” transcript or a notarized statement of appropriate school authority) that lists all the classes taken. There is no definition in the regulations what “certified” means. We believe that an official transcript that has the university seal and a signature on it should qualify.

For classes taken as an auditor (non-credit), the regulations call for a statement of the hours of attendance signed by the instructor. Please inform the instructor at the very beginning of the semester that you are auditing the class and that you will need a signed statement of attendance when the course is completed. You should also inform the instructor to contact the program director to obtain template of a CPE certificate, which the instructor will complete  at the end of the semester.

Ron West                                                                                                                               
Program Director

 

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The entire set of regulations pertaining to accountancy, including Continuing Professional Education (CPE), can be found on the New Jersey State Board of Accountancy web site under the tab “Accountancy Regulations” at http://www.state.nj.us/lps/ca/nonmedical/accountant.htm. More directly, the regulations are posted in pdf format at: http://www.state.nj.us/lps/ca/laws/accountancyregs.pdf


 

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CHAPTER 29. NEW JERSEY STATE BOARD OF ACCOUNTANCY

SUBCHAPTER 6. CONTINUING PROFESSIONAL EDUCATION

NEW JERSEY ADMINISTRATIVE CODE

*** INCLUDES ALL REGULATIONS ADOPTED AND PUBLISHED THROUGH THE ***
*** NEW JERSEY REGISTER, VOL. 42, NO. 24, DECEMBER 20, 2010 ***


TITLE 13. LAW AND PUBLIC SAFETY  
CHAPTER 29. NEW JERSEY STATE BOARD OF ACCOUNTANCY  
SUBCHAPTER 6. CONTINUING PROFESSIONAL EDUCATION


 

§ 13:29-6.5 Continuing professional education programs and other sources of continuing professional education credit


(a) The following qualify as continuing professional education programs provided they contain the subjects enumerated in N.J.A.C. 13:29-6.3 and 6.4 and meet the continuing professional education program criteria requirements as set forth in N.J.A.C. 13:29-6.6 or 6.6A.

1. …

2. Accredited university or college courses in qualifying technical subjects set forth in N.J.A.C. 13:29-6.3 only: Continuing professional education credit shall be granted for university or college courses in accordance with the following:

i. Applicants shall receive: 15 credit hours of continuing professional education credit for each semester or trimester credit hour earned; 10 credit hours of continuing professional education credit for each credit hour earned in a quarter; and

ii. Applicants attending noncredit courses shall be granted continuing professional education credit at the rate of one credit hour for every 50 minutes of in-class participation.

3. …

 

§ 13:29-6.8 Retention of continuing professional education records

 

 (a) A licensee shall be primarily responsible for documenting satisfaction of continuing professional education requirements. Evidence to support fulfillment of continuing professional education requirements shall be maintained for a period of five years after the completion of educational courses. Such evidence shall be subject to periodic audit by the Board. Satisfactory documentation of the necessary information, including the retention of attendance records and written outlines, shall be accomplished as follows:

1. For courses taken for scholastic credit in accredited universities or colleges, a certified transcript or notarized statement of appropriate school authority shall constitute evidence of satisfactory completion of the course. For noncredit courses taken, a statement of the hours of attendance signed by the instructor, shall be obtained by the licensee.

 

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