Mich. Admin. Code R. 338.5115 - Educational requirements for the uniform CPA exam; approved educational institutions; adoption of accreditation standards by reference
Rule 115.
(1) To
satisfy section 725(1)(b) and (2) of the code, MCL
339.725, an individual shall
provide proof, as directed by the department, verifying both the following
requirements:
(a) Completion of a curriculum
required for a baccalaureate degree consisting of not less than 120 semester
hours at a higher education institution approved under subrule (3) or (4) of
this rule or considered substantially equivalent under subrule (5) of this
rule.
(b) Completion of a
concentration in accounting at a higher education institution approved under
subrule (3) or (4) of this rule or considered substantially equivalent under
subrule (5) of this rule, which includes both the accounting and general
business requirements under subrule (2) of this rule.
(2) A concentration in accounting must
include both the following accounting and general business requirements:
(a) Not less than 24 semester hours of
accounting courses in all the following accounting content areas:
(i) Accounting information systems.
(ii) Auditing and attestation
services.
(iii) Cost or managerial
accounting.
(iv) Financial
accounting and reporting.
(v)
Governmental or fund accounting.
(vi) Taxation.
(b) Not less than 24 semester hours of
general business courses, other than accounting, which may include any of the
following general business content areas:
(i)
Business communications.
(ii)
Business ethics.
(iii) Business
law.
(iv) Economics.
(v) Finance.
(vi) Management.
(vii) Marketing.
(viii) Information systems or
technology.
(ix) Quantitative
methods.
(x) Statistics.
(xi) Other general business content areas
approved by the department.
(3) The standards for recognition of
accrediting organizations developed and adopted by the Council for Higher
Education Accreditation (CHEA), One Dupont Circle NW, Suite 510, Washington,
D.C. 20036, in the publication titled "CHEA Standards and Procedures for
Recognition," effective October 4, 2021, which are available at no cost on the
council's website at https://www.chea.org, are approved and
adopted by reference. If a higher education institution is accredited by the
accrediting body of the region in which the institution is located and the
accrediting body satisfies the recognition standards of CHEA, then the
institution is approved.
(4) The
criteria for recognition and the recognition process for the secretary's
recognition of accrediting agencies of the United States Department of
Education, Office of Postsecondary Education, 400 Maryland Avenue SW,
Washington, D.C. 20202, in 34 CFR 602.10 to
602.39, effective July 1, 2020,
which are available at no cost on the department's website at
https://www2.ed.gov/about/offices/list/ope/index.html,
are approved and adopted by reference. If a higher education institution is
accredited by the accrediting body of the region in which the institution is
located and the accrediting body satisfies the recognition criteria and process
of the United States Department of Education, then the institution is
approved.
(5) An individual who
attended an unaccredited higher education institution shall establish that the
applicant has completed educational requirements at a higher education
institution that satisfies accreditation requirements substantially equivalent
to those recognized in subrule (3) or (4) of this rule, by providing a
credential evaluation completed by either the National Association of State
Boards of Accountancy (NASBA) or a credential evaluation organization that is a
current member of the National Association of Credential Evaluation Services
(NACES).
(6) Copies of the standards
and criteria approved and adopted by reference in this rule are available for
inspection and distribution at a cost of 10 cents per page from the Board of
Accountancy, Department of Licensing and Regulatory Affairs, Bureau of
Professional Licensing, 611 W. Ottawa Street, P.O. Box 30670, Lansing,
Michigan, 48909.
Notes
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