30 Miss. Code. R. 1-4.1 - Compliance Requirements and Reporting
Rule 4.1.1. To
annually renew a CPA license, an individual must complete and report at a
minimum, the 40 CPE credit hours required under this rule accrued during the
applicable compliance & reporting period and on forms prescribed by the
Board by August 1.
Rule 4.1.2. All
licensees must report a minimum of 40 CPE credit hours within each one year
(twelve month) compliance period ending June 30. Only 20 of the 40 hours may be
from carry-over hours as referred to in Rule 4.1.4.
Rule 4.1.3. A minimum of three (3) CPE credit
hours must be earned in a Board approved Ethics and Professional Conduct
course(s) every three years. Also, a minimum of one (1) CPE credit hour must be
earned in a Mississippi Public Accountancy Law and Regulations course every
three years. No carry-over may be used to satisfy this requirement.
Rule 4.1.4. If more than 40 CPE credit hours
are accumulated in a one year compliance period, the excess hours up to a
maximum of 20 CPE credit hours may be carried over and applied to the CPE
requirement for the immediately following one year compliance period.
Rule 4.1.5. An initial applicant for a
license shall be exempt from earning CPE credit hours during the compliance
period in which he obtains a license and exempt from the Ethics, Professional
Conduct, and Mississippi Public Accountancy Law and Regulations CPE requirement
for the remainder of that triennial compliance period. There is no provision
for carry-over from a compliance period in which CPE was not
required.
Rule 4.1.6. An individual
who has applied and been granted by the Board the use of "CPA (retired)" or
"Certified Public Accountant (retired)" as described in Rule
2.5., Retirement Status or
Permanent Disability, is exempt from the CPE requirements described in
this rule.
Rule 4.1.7.
Rescinded.
Rule 4.1.8.
Repeal.
Rule 4.1.9. The Board may in
its discretion annually make exceptions to the CPE credit hour requirements set
out in this rule if:
(a) a licensee's primary
employment is not in Mississippi but is in a State whose CPE requirements are
substantially equivalent to Mississippi's requirements as determined by the
Board and the individual is a licensee in that State of primary employment and
reports those CPE credit hours as required per Rule
4.2. with a sworn statement to the
Board that the CPE requirements for that jurisdiction have been met. Except the
individual must comply with the Ethics, Professional Conduct, Public
Accountancy Law and Regulations CPE requirement unless his State of primary
employment has an ethics CPE requirement and he complies with that
requirement;
(b)a licensee shows
reasons of health, certified by a medical doctor, that prevent compliance with
the CPE requirement. A licensee must annually petition the Board for the
exemption and provide documentation that clearly establishes the period of
disability and the resulting physical limitations;
(c) a licensee is on extended active military
duty during the period for which the exemption is requested, and files a copy
of orders to active military duty with the Board;
(d)a licensee shows other good cause and
reasons which prevent compliance that is acceptable to the
Board.
Notes
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