Vermont CPA CPE Requirements

How to reach the regulator directly.

Vermont Board of Public Accountancy
Office of Professional Regulation

89 Main Street
3rd Floor
Montpelier, VT 05620-3402

Tel: (802) 828-2373
Fax: (802) 828-2465
Email: sos.renewalclerk@vermont.gov

The regulator's own published rules and related resources.

Vermont Board of Public Accountancy

The total continuing education hours required.

80 hours.

The detailed rules behind that total -- category minimums, ethics, and other conditions.

Licensees must successfully complete at least eight hours of continuing education in the subject area of accounting and auditing.

Ethics:

Effective February 20, 2013: In fulfilling these requirements, licensees must successfully complete at least four hours of continuing education in the subject area of ethics for accountants.

• Note taken from the VT Board Meeting Minutes (April 23, 2013): The Board said that the "Ethics for Accountants" course is just that. Any Ethics course that specifically deals with accountancy and the job that each licensee is doing should be fine. All courses will be reviewed when we do the audits.
• June 2011: Note from CeriFi CPEdge: CeriFi CPEdge has confirmed with the VT Board that NASBA courses in 'regulatory' or 'behavioral' ethics are generally approved by the VT Board to count toward the Ethics requirement. Therefore, the CeriFi CPEdge content distibutor has been updated so that when a 'behavioral ethics' or 'regulatory ethics' course is being added, you must select 'yes' to either the NASBA Registry or the NASBA QAS question. Selecting 'yes' will ensure the course is accredited to the VT 'Ethics' category. If you do not select 'yes' to either the NASBA Registry or the NASBA QAS question, the minutes you enter as 'behavioral' or 'regulatory' ethics will be counted in the VT 'General' category.

Effective August 7, 2009 through February 19, 2013: In fulfilling these requirements, licensees must successfully complete at least four hours of continuing education in the subject area of ethics, which may include the AICPA Code of Conduct or Vermont accountancy statutes and rules.

Prior to August 7, 2009: In fulfilling these requirements, licensees must successfully complete at least four hours of continuing education in the subject area of ethics, based on the AICPA Code of Conduct and Vermont accountancy statutes and rules.

How the reporting cycle is structured.

Biennial.

The CPE period is August 1 - July 31 of odd-numbered years.

When a reporting cycle begins.

August 1.

How completed credits are reported to the regulator.

Continuing Professional Education Records:

Effective February 20, 2013: Applicants for renewal of licenses shall file with their applications a signed statement affirming that they have completed the required continuing professional education programs.

Responsibility for documenting the acceptability of the program, completion of the hours and the validity of the credits rests with the applicant. Licensees must retain the documentation for a period of five years after the completion of the program. Documentation may consist of the following:

1. Copy of the course outline prepared by the course sponsor along with the following information:
   1. sponsoring organization;
   2. location of program;
   3. title of program or description of content;
   4. dates attended; and
   5. hours completed.
2. For courses taken for scholastic credit in accredited universities and colleges, evidence of satisfactory completion of the course is sufficient; for non-credit courses, a statement of the hours of attendance signed by the instructor is required.
3. Formal individual study programs require documented evidence of completion

Prior to February 20, 2013: Applicants for renewal of licenses shall file with their applications a signed statement of the continuing professional education programs for which they claim credit, showing:

• sponsoring organization;
• location of program;
• title of program or description of content;
• dates attended; and
• hours completed.

The renewal or reporting deadline.

July 31.

→ Get monthly reminders before this deadline

What happens if the requirement is not met.

The Board will randomly verify information submitted by applicants. If the Board determines an applicant did not meet the requirement it may, for cause shown, grant additional time to cure deficiencies prior to taking further action.

Failure to complete the CPE requirements may result in a late fee penalty and/or suspension of license.

Reduced or prorated requirements for a first renewal.

A licensee seeking renewal after an initial license period, not by endorsement, shall show that he or she has completed no fewer than forty hours of continuing professional education for each full year the license has been held during the two year period preceding renewal.

• Licensees must successfully complete at least four hours of continuing education in the subject area of ethics based on the AICPA Code of Conduct and Vermont accountancy statutes and rules.
• Licensees must successfully complete at least eight hours of continuing education in the subject area of accounting and auditing.
• Initial licensees, not by endorsement, that are licensed for less than two full years can use no more than 32 hours of continuing professional education earned by:
  1. correspondence/individual study credit;
  2. instruction, discussion leader or speaker credit; and
  3. publication credit in their primary renewal period.

Who may be excused from all or part of this requirement.

The Board may, in its discretion, make exceptions to the requirements for renewal for reasons of individual hardship including health, military service, foreign residence, or other good cause.

An applicant whose license has lapsed at the time of application for renewal shall have completed the continuing professional education hours required during the lapsed two year period immediately preceding the date of application for reinstatement.

Whether unused credits can apply to the next period.

An applicant may carry over from one biennium a maximum of ten continuing professional education hours.

Effective August 7, 2009: The carry over hours cannot be the required eight hours of auditing and accounting or the four hours of ethics.

• NOTE: June 16, 2011: CeriFi CPEdge has confirmed with the VT Board that if a licensee does earn beyond the required eight hours of auditing and accounting or the four hours of ethics, such excess credits may be carried over as 'General' credits, but still not to exceed a maximum of ten continuing professional education hours.

→ CE Tracking calculates carryover for you

Rule changes the regulator has proposed but not yet finalized.

Proposed Rule Changes / May 2017:

The Board of Public Accountancy has proposed revisions to its Administrative Rules. The rules were last updated in 2014. Among other changes, the Board proposes to:

• adopt a standard format matching rules in other professions;
• require that applicants supply a valid social security number and affirm an intention to practice accountancy in Vermont;
• parallel AICPA model rules where possible, for consistency with other jurisdictions;
• simplify continuing-education requirements and recognize fractional-hour credit; and
• simplify peer-review and facilitated state board access.

Click here for more information, including a copy of the proposed rules (www.sec.state.vt.us/professional-regulation/list-of-professions/accountancy/statutes-rules).

Rule changes the regulator has finalized, with effective dates.

Refer to the specific sections above for more details on any of the items noted below.

Breakdown of Specific Requirements:

Ethics: Effective February 20, 2013: In fulfilling these requirements, licensees must successfully complete at least four hours of continuing education in the subject area of ethics for accountants.

Reporting Method:

Continuing Professional Education Records: Effective February 20, 2013: Applicants for renewal of licenses shall file with their applications a signed statement affirming that they have completed the required continuing professional education programs.

Credit for Teaching and Repeat Credit / Credit For Writing / Credit for Self-Study Education:

The rule limiting the combination of: (1) correspondence / individual study credit; (2) instruction, discussion leader or speaker credit; and (3) publication credit in a renewal period to be no more than 64 credits out of the 80 required (or 80%) has been rescinded.

Breakdown of Specific Requirements:
Effective August 7, 2009: In fulfilling these requirements, licensees must successfully complete at least four hours of continuing education in the subject area of ethics, which may include the AICPA Code of Conduct or Vermont accountancy statutes and rules.

Carryover:
Effective August 7, 2009: The carry over hours cannot be the required eight hours of auditing and accounting or the four hours of ethics.

Effective September 2003: The Legislative Committee on Administrative Rules has adopted new rules effective August 22, 2003. This rule summary reflects these Rules.