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Kentucky CPE Requirements


Kentucky CPE Requirements


BOARD INFORMATION FOR REFERRALS:

Kentucky State Board of Accountancy
332 West Broadway, Suite 310
Louisville, KY 40202
Phone: (502) 595-3037
Fax: (502) 595-4500
Website: www.cpa.ky.gov

DO PES COURSES QUALIFY FOR CPE IN THE STATE OF KENTUCKY? YES!

Kentucky has no specific sponsor registration requirements. Professional Education Services, LP (PES) is registered with NASBA (#103592) on the National Registry of CPE sponsors and has issued credits in the state of Kentucky without any problems.

NEW CPE REQUIREMENTS: EFFECTIVE 01.01.2021 (date of impact depends on renewal period)

  • 50% of the total hours shall include technical standards courses: these are defined as education courses if the subject matter is: accounting, auditing, business law, economics, finance, information technology, management services, professional ethics, statistics, securities, tax and specialized areas of industry, all of which shall contribute directly to the professional competence of a licensee.
  • A&A hours: Licensees who prepare audits, reviews, compilations, or the preparation of financial statements shall complete eight (8) hours of CPE in the subject matter area of accounting or auditing each calendar year for a total of sixteen (16) hours per reporting period.
  • Personal Development courses: licensees required to obtain eighty (80) hours of CPE may include eight (8) hours of personal development courses toward the required hours, and licensees required to obtain sixty (60) hours of CPE may include up to twelve (12) hours of personal development courses. An acceptable personal development course shall be limited to courses to improve time management, leadership, team building, goal setting, and similar soft skills related to working in an office or professional setting.
  • Ethics: Each licensee shall complete two (2) CPE hours in professional ethics. These hours shall be included as part of the eighty (80) or sixty (60) total CPE hours a licensee is required to complete to renew their license.

HOW DOES THIS IMPACT UPCOMING RENEWALS* :

  • EVEN NUMBER CERTIFICANTS:
    - 08.01.2022 Renewal with the CPE period being 01.01.2020 to 12.31.2021: 2022 renewals will not be affected by the new rules even though one of the CPE years is after 01.01.2021
    - 08.01.2024 Renewal with the CPE period being 01.01.2022 to 12.31.2023: CPE for this entire time period will be subject to the new rules noted above
  • ODD NUMBER CERTIFICATES:
    - 08.01.2021 Renewal with the CPE period being 01.01.2019 to 12.31.2020: CPE will be subject to the old rules
    - 08.01.2023 Renewal with the CPE period being 01.01.2021 to 12.31.2022: CPE will be completely subject to the new rules noted above
  • *This information was taken from an email correspondence with the KY Board of Accountancy but should be confirmed with the Board directly by the licensee if there are any questions or clarification is required.

LICENSE RENEWAL INFORMATION:

  • 80 hours every two years if with a public accounting firm and has worked more than 3000 hours during the CPE reporting period.
  • 60 hours every two years if with a public accounting firm and has worked less than 3000 hours during the CPE reporting period or who were employed in industry, education or government.
  • 2 hourse of ethics each renewal period. This does not have to be specific to KY law and may be a general ethics course. PES course 4910: Ethics and Professional Conduct for Kentucky CPAs can be used to satisfy this requirement as can any other state specific or general ethics course.
  • Regulations state that courses in the subject area of personal development are NOT ACCEPTABLE.

LICENSE EXPIRATION INFORMATION:

  • Registrant with odd numbered certificates expire biennially on 8/01 in odd years.
  • Registrant with even numbered certificates expire biennially on 8/01 in even years.

CPE COMPLETION DUE BY:

  • The CPE reporting period is the two calendar years prior to the expiration. CPE must be completed by 12/31 (no grace period allowed) prior to expiration and reported on or before 8/01 of the expiration year.

SELF STUDY CREDIT HOURS:

Credits granted for PES courses are based on the AICPA and NASBA (National Association of State Boards of Accountancy) statement of standards which grant 1 CPE credit for every 50-minutes of study time. Kentucky recognizes the same credit measurement.

MAXIMUM ALLOWABLE SELF STUDY CREDITS: 100%
ACCEPTABLE AREAS OF STUDY:

ACCEPTED AREAS include:Accounting and Finance; Auditing; Taxation; Business Management Services; Information Technology; Business Communications; Statistics; Ethics; Economics; Business Law, Securities; Marketing and Specialized areas of industry that contribute directly to the professional competence of a licensee.

NOT ACCEPTED - The following subject areas shall not be considered acceptable for continuing education: Personal growth or development; Self-Realization; Spirituality; Personal health or fitness; Sports and recreation; Foreign languages or cultures.

NASBA FIELD OF STUDY SYNOPSIS: The specific fields of study noted by the Kentucky Board can all be equated to a NASBA field of study. All fields of study noted on PES certificates of completion should be able to be reported to Kentucky EXCEPT personal development courses which are deemed to be NOT acceptable CPE.

If you have any questions regarding your CPE requirements, please call PES at 1-800-990-2731 or your State board. PLEASE NOTE: Since state board regulations are constantly changing, the information contained here is deemed reliable however it is not guaranteed. We encourage you to contact your state board to answer any questions and confirm or clarify any requirements listed here. Information updated 07/13.2021.