New Ethics Requirement for Utah CPAs
Tuesday, May 24, 2016
Posted by: Amy Spencer
Utah CPAs should note that changes have been made to the Certified Public Accountant Act Rule as of February 11, 2016. To renew your license, you now need to have one hour of education on the Utah Certified Public Accountant Licensing Act and Certified Public Accountant Licensing Act Rule and at least three hours of ethics education.
We will keep you informed of available classes to fit these new requirements. The mandatory one hour class will be offered to UACPA members at no cost.
View the complete rules here. Below is an excerpt of the updated rules.
R156-26a-303b. Renewal and Reinstatement Requirements - Continuing Professional
(1) All CPAs are required to maintain current knowledge, skills, and abilities in all areas in which they provide services in order to provide services in a competent manner. To maintain or to obtain the knowledge, skills and abilities to competently provide services, a CPA may be required to obtain CPE above and beyond the 80 minimum CPE credits specified in Section 58-26a-304.
The following standards have been broadly stated in recognition of the diversity of practice and experience among CPAs. They establish a framework for the development, presentation, measurement, and reporting of CPE programs and thereby help to ensure that CPAs maintain the required knowledge, skills and abilities necessary to competently provide services and to enable to the CPA to provide evidence of meeting the minimum CPE requirements specified under this rule.
(2) General Standards for CPAs.
(a) Standard No. 1.
All CPAs must participate in CPE learning activities that maintain and/or improve their professional competence. This CPE must include a minimum of 80 hours of CPE in each two-year period ending on December 31 of each odd numbered year. The 80 hours shall include at least one hour of education on the Utah Certified Public Accountant Licensing Act and Certified Public Accountant Licensing Act Rule and at least three hours of ethics education which shall cover one or more of the following areas: the AICPA Code of Professional Conduct, case-based instruction focusing on real-life situational learning, ethical dilemmas faced by accounting professionals, or business ethics.