3 Colo. Code Regs. § 705-1.5

Current through Register Vol. 47, No. 22, November 25, 2024

Section 3 CCR 705-1.5 - [Effective 12/15/2024] EDUCATION REQUIREMENTS FOR EXAMINATION AND CERTIFICATION

This Rule is promulgated pursuant to sections 12-20-204, 12-100-105(1)(b), 12-100-108, 12-100-109, and 12-100-110, C.R.S.

A.GENERAL INFORMATION

1.Conversion of quarter hours to semester hours. For purposes of these Rules, four quarter hours equals three semester hours.

2.Transcripts. The applicant's claim to college or university credits for eligibility for examination and certification must be confirmed by an official transcript of credit forwarded by the institution to the Board's office or its designee. However, the Board may accept an official transcript from the applicant if the transcript is provided in an official envelope sealed by the granting institution.

3. The Board will not issue a certificate to an applicant who has not satisfied the requirements of Rule 1.5(E).

4. The Board or its designee will not consider or review an incomplete application.

5. Any application that is not complete within one year of the receipt date will expire and be destroyed. The applicant must submit a new application along with all required information and fees.

6. "College or university" for purposes of these Rules means an institution of higher education that:

a. Requires a high school diploma or equivalent as a condition of entry;

b. Delivers postsecondary education; and

c. Offers a degree that would be recognized by, or coursework that would be accepted for transfer by, an Accredited Baccalaureate Granting College as defined in Rule 1.5(B).

B.COLLEGE OR UNIVERSITY ACCREDITATION

1. "Accredited Baccalaureate Granting College" for the purposes of these Rules means a college or university:

(1) that is deemed accredited under sections 12-100-103(1) and 12-100-108(1), C.R.S., that offers a Baccalaureate Degree or higher degree.

2.Baccalaureate Degree. The Board may deem a Baccalaureate Degree or higher degree obtained from a non-accredited college or university as conferred by an Accredited Baccalaureate Granting College if the applicant demonstrates that the degree would be unconditionally accepted into a graduate program at an Accredited Baccalaureate Granting College.

3.Coursework. The Board may deem coursework obtained from a non-accredited college or university as obtained from an Accredited Baccalaureate Granting College if the applicant demonstrates that the coursework would be acceptable for credit towards a Baccalaureate Degree or higher degree at an Accredited Baccalaureate Granting College.

4. The Board may require that an applicant submit the transcript to a generally recognized academic credential evaluation service for assistance in evaluating whether:

a. A degree would be unconditionally accepted into a graduate program at an Accredited Baccalaureate Granting College;

b. Coursework obtained from a non-accredited college or university would be acceptable for credit towards a Baccalaureate Degree or higher degree at an Accredited Baccalaureate Granting College;

c. An accounting program satisfies the requirements for program approval under section 12-100-110, C.R.S.;

d. Coursework is, or is equivalent to, a concentration in accounting;

e. A degree conferred by a non-accredited college or university meets the definition of Baccalaureate Degree; and

f. The education otherwise satisfies the requirements of the Act and these Rules.

5. The Board will not accept an evaluation described in paragraph (4) of this Rule 1.5 unless it is prepared by NIES or an evaluation service that is a member of NACES, AICE, or another similar organization approved by the Board, or any other entity approved by the Board. The Board is not required to accept the results of an evaluation from any source.

C.APPROVED ACCOUNTING PROGRAM

1. An accounting program at an Accredited Baccalaureate Granting College is deemed approved by the Board.

2. The Board may deem an accounting program at any college or university as approved for the purposes of a specific application if the applicant demonstrates that an Accredited Baccalaureate Granting College would accept coursework or a degree obtained from the college or university for credit towards a Baccalaureate Degree or higher degree, or into a graduate program.

D.EDUCATION REQUIREMENTS FOR EXAMINATION

A person who has a Baccalaureate Degree or higher degree who has obtained not less than 120 credit hours of higher education, and who has fulfilled the requirements described in this Rule 1.5, has met the education requirements necessary to sit for the examination.

Notwithstanding the above, a person who does not have a Baccalaureate Degree has met the education requirements necessary to sit for the examination, if the individual has obtained not less than 120 credit hours of higher education and fulfilled the requirements described in this Rule 1.5, and demonstrates that they are currently enrolled in a degree program at a college or university that:

(1) requires a minimum 150 hours for graduation; and

(2) does not offer a Baccalaureate Degree, but instead confers a Masters or higher degree, or offers a Baccalaureate Degree upon completion of a combined degree program.

1. An applicant must have completed at least twenty-seven semester hours of non-duplicative accounting coursework at the undergraduate or graduate level with awarded or acceptable for credit from an accredited college or university. The transcripts must indicate an accounting program code or the applicant must otherwise demonstrate that the coursework was in accounting. The twenty-seven semester hours must include the following:

a. No more than six hours of introductory accounting courses, such as principles of accounting, accounting and tax software courses, payroll accounting, and other basic accounting courses as determined by the Board.

b. Twenty-one semester hours of accounting courses, excluding introductory accounting courses as described paragraph (a) of this Rule 1.5(D)(1), covering subject areas such as:

(1) Accounting Ethics

(2) Accounting Information Systems

(3) Accounting Research and Analysis

(4) Accounting Theory

(5) Auditing and Attestation Services

(6) Financial Accounting and Reporting of Business Organizations

(7) Financial Accounting and Reporting for Government and Not-for-Profit Entities

(8) Financial Statement Analysis

(9) Fraud Examination

(10) Internal Controls and Risk Assessment

(11) Managerial or Cost Accounting

(12) Taxation

(13) Tax Research and Analysis

(14) Forensic accounting

(15) Tax auditing

(16) Other areas as approved by the Board as documented in the Board's policies.

b. The twenty-one semester hours must include a three semester hour, or more, auditing course concentrating on U.S. GAAS. "Concentrating on U.S. GAAS" means that any course content referencing non-U.S. standards is incidental to the course.

c. No more than three (3) semester hours of internship may count towards the twenty-seven hour requirement as described in this Rule 1.5(D)(1).

2. An applicant must successfully complete at least twenty-one semester hours of non-duplicative coursework in business administration at the undergraduate or graduate level that addresses subject areas such as:

a. Behavior of Organizations, Groups, and Persons

b. Business or Accounting Communications

c. Business Ethics

d. Business Law

e. Computer Information Systems

f. Economics

g. Finance

h. Legal and Social Environment of Business

i. Management

j. Marketing

k. Quantitative Applications in Business

l. Statistics

m. Other areas as approved by the Board

3. Of the twenty-one semester hours described in this Rule 1.5(D)(2), no more than three (3) semester hours may be internship hours.

4. All coursework must address subject areas as provided in paragraph (2) of this Rule 1.5, but the coursework need not be taken within the business or accounting department.

5. The courses required in this Rule 1.5(D) must be taken at an Accredited Baccalaureate Granting College or:

(1) such a college must accept the courses by including them in its official transcript or demonstrate to the Board that it would accept the courses for credit towards graduation;

(2) the courses must be acceptable for transfer to such a college pursuant to a transfer articulation agreement approved or accepted by the Colorado Department of Higher Education or what the Board determines to be an equivalent regulatory agency of another jurisdiction; or

(3) the Board may accept the findings of an academic credential evaluation provided pursuant to Rule 1.5(B).

E.EDUCATION REQUIREMENTS FOR CERTIFICATION

An individual who has a Baccalaureate Degree or higher degree and who has fulfilled the requirements described in this Rule 1.5 has met the education requirements necessary for certification.

1. An Applicant must have successfully completed a total of 150 semester hours of non-duplicative coursework at the undergraduate or graduate level.

2. The Applicant must have completed at least thirty-three semester hours of nonduplicative accounting coursework at the undergraduate or graduate level with awarded or acceptable for credit from an accredited college or university. The transcripts must indicate an accounting program code or the applicant must otherwise demonstrate that the coursework was in accounting. The thirty-three semester hours must include the following:

a. No more than six semester hours of introductory accounting courses, such as principles of accounting, accounting and tax software courses, payroll accounting, and other basic accounting courses as determined by the Board.

b. The twenty-seven semester hours of accounting courses excluding introductory accounting courses as described in paragraph (b) of this Rule 1.5(E)(2) and covering the subject areas described in Rule 1.5(D)(1)(a);

c. Of the twenty-seven semester hours required in paragraph (b), a three semester hour course concentrating on U.S. GAAS, must be included. "Concentrating on U.S. GAAS" means that any course content referencing non-U.S. standards is incidental to the course.

3. The applicant must have successfully completed at least twenty-seven semester hours of non-duplicative coursework in business administration at the undergraduate or graduate level, which must include:

a. Of the twenty-seven semester hours, no more than nine semester hours can be in any single subject area. But semester hours in excess of the nine-hour maximum may count toward the total 150 semester hour requirement.

b. All coursework must address subject areas as provided in Rule 1.5, but the coursework need not be taken within the business or accounting department.

4. The courses required in this Rule 1.5(E) must be taken at an Accredited Baccalaureate Granting College or:

(1) such a college must accept the courses by including them in its official transcript or demonstrate to the Board that it would accept the courses for credit towards graduation;

(3) the Board may accept the findings of an academic credential evaluation provided pursuant to Rule 1.5(B).

3 CCR 705-1.5

44 CR 03, February 10, 2021, effective 3/2/2021

44 CR 20, October 25, 2021, effective 11/14/2021

45 CR 11, June 10, 2022, effective 6/30/2022

45 CR 17, September 10, 2022, effective 9/30/2022

45 CR 20, October 25, 2022, effective 11/14/2022

47 CR 22, November 25, 2024, effective 12/15/2024