New Jersey CPA Continuing Education (CPE) Requirements

BestCPE (CPE Publications, Inc.) is registered with the New Jersey State Board of Accountancy (Sponsor # 1936). Listed below are some of the New Jersey CPA CPE requirements that apply to online continuing education. BestCPE designs its courses to meet the 100 minute credit hour requirement by the New Jersey State Board of Accountancy. The New Jersey Sponsor number for BestCPE (CPE Publications, Inc.) is 1936. Please use the New Jersey Accountancy Regulations as the official documentation for any questions related to New Jersey CPA CPE.

New Jersey Credit-Hour Requirements

Each applicant for a triennial license renewal is required to complete, during the preceding triennial period, 120 hours of continuing professional education, except as provided in (c) through (f) below.

The 120 hours of continuing professional education shall include at least 24 credit hours in the areas of auditing, review and compilation for persons who are engaged in the practice of public accounting or are involved with the attest function in issuing audit, review or compilation reports.

All applicants shall complete at least 72 credit hours of the required 120 credit hours in the technical subjects. All applicants shall complete four credit hours of the required 120 credit hours in the New Jersey law and ethics course. The remaining 44 credit hours of the required 120 credit hours may include subjects. No licensee shall receive credit for any course offered by a Board-approved continuing professional education sponsor in subjects other than those enumerated in N.J.A.C. 13:29-6.3, 6.3A or 6.4.

For the triennial period commencing January 1, 2003 only, a licensee who has completed an approved law and ethics course, in addition to the required 120 hours of continuing professional education in the preceding triennial period, may apply the four credit hours in the New Jersey law and ethics course toward satisfaction of the requirements of this subsection.

Failure to meet triennial continuing professional education requirements may subject a licensee to disciplinary action by the Board.

New Jersey Qualifying Technical Subjects

The following subjects are acceptable for satisfaction of the required 72 credit hours of continuing professional education in technical subjects over the triennial period:

1. Accounting;

2. Auditing, including, but not limited to, review, compilation and attest standards;

3. Business law;

4. Computer Science;

5. Economics;

6. Finance;

7. Management advisory services;

8. Mathematics, statistics, etc.;

9. SEC practice;

10. Taxation; and

11. Professional ethics.

Any of the subjects above may be in specialized areas, such as governmental, not-for-profit organizations, film industry, real estate, and farming.

Auditing, review and compilation includes the body of knowledge that deals with the basic service of the public accounting profession, that is, examination and reporting on financial statements. Also included in this area is the examination or review of internal and administrative controls, operations and government programs. Relevant program offerings could include audit theory and philosophy; generally accepted auditing standards; study and evaluation of internal control; substantive audit procedures; audit sampling; reporting on financial statements; review services; and computer and government auditing.

Qualifying subject matter will include courses covering pronouncements or regulations issued by recognized authorities such as the FASB, AICPA, SEC or other government agencies (state and Federal) dealing with auditing, financial reporting, or application of generally accepted accounting principles.

Subjects other than those listed above may be acceptable for continuing professional education credit if the licensee can demonstrate to the satisfaction of the Board that such subject or specific program contributes to the maintenance of the licensee's professional competence.

New Jersey Continuing Professional Education Programs

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

1. Continuing professional education programs of national or state professional organizations: Continuing professional education credit shall be granted at the rate of one credit hour for every 50 minutes of in-class participation.

2. University or college courses: Continuing professional education credit shall be granted for university or college courses in accordance with the following:

i. Applicants shall receive five credit hours continuing professional education credit for each semester credit hour earned; 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. In-firm educational programs of public accounting firms: Continuing professional education credit shall be granted at the rate of one credit hour for every 50 minutes of in-firm participation.

4. Correspondence programs and other individual study programs: Continuing professional education credit shall be granted for correspondence programs and other individual study programs in accordance with the following:

i. The amount of credit to be allowed for approved correspondence and individual study programs, including taped study programs, shall be recommended by the program sponsor based upon one-half the average completion time calculated by the sponsor after it has conducted appropriate "field tests." Although the program sponsor shall make recommendations concerning the number of credit hours to be granted, the number of credit hours granted shall be as determined by the Board; and

ii. Credit for correspondence and other individual study programs shall only be given in the renewal period in which the course is completed with a successful final examination.

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