3 Colo. Code Regs. § 705-1.8

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

Section 3 CCR 705-1.8 - [Effective 12/15/2024] REQUIREMENTS FOR CERTIFICATION

This Rule is promulgated pursuant to sections 12-20-204, 12-100-105(1)(b), 12-100-108, and 12-100-111, C.R.S.

A.GENERAL PROVISIONS

1. An applicant must complete and submit an application with applicable fees as prescribed by the Board or its designee.

2. Education, training, or experience gained in military service as outlined in section 12-20-202(4), C.R.S., will be accepted towards satisfying the requirements for certification upon presentation of evidence deemed satisfactory to the Board that the education, training, or experience meets the standards otherwise applicable at the time of receipt of the application. The applicant must provide timely and complete evidence for review and consideration. The Board will consider the evidence on a case-by-case basis.

3. Individuals granted a certificate who issue attest or compilation reports must enroll in a peer review program within thirty days following the date the Board grants the initial certificate, pursuant to Rule 1.11 of these Rules.

4. A certificate holder may engage in the practice of public accounting as a sole proprietor.

5. A certificate holder (including a sole proprietor) must register any form of partnership, professional corporation, or limited liability company as provided in Rule 1.15 before he can hold out or engage through that legal entity in any activity for which an active or valid certificate or registration is required under section 12-100-116(1), C.R.S.

6. Upon issuance, certificates and certificate holders are subject to the certificate maintenance, Continuing Professional Education, and other requirements described in Rules 1.9 and 1.10 and all of these Rules.

B.GENERAL CERTIFICATION REQUIREMENTS

1. An applicant has met the requirements necessary for certification if he has:

a. Met the minimum education requirements as described in Rule 1.5;

b. Taken and passed the Uniform CPA Examination;

c. Taken the AICPA Ethics course and passed the AICPA Ethics Examination with a score of ninety percent or better within two years immediately preceding the application receipt date; and

d. Met the experience requirements described in Rule 1.7.

2. The applicant must complete two hours of CR&R within six months after the date the Board grants the initial certificate. CR&R completed within the six months immediately preceding the date the Board grants the initial certificate will satisfy this requirement.

a. CR&R completed within the six months immediately preceding the date the Board grants the initial certificate will satisfy this requirement. CR&R that is not completed within the six months preceding or after that date will not satisfy this requirement, but it may count towards general CPE credit, if it otherwise satisfies the requirements of Rule 1.9(G).

b. CR&R courses completed under this requirement may satisfy the CR&R requirement under paragraph (2)(b) of Rule 1.9(G).

c. CR&R completed pursuant to this subsection (B)(2) of this Rule may be counted toward general CPE requirements.

C.EXAMINATION MORE THAN 10 YEARS PRIOR TO THE CERTIFICATION APPLICATION DATE

If an applicant applies for licensure with examination scores obtained more than ten years prior to the application receipt date, in addition to satisfying the requirements of Rule 1.8(B), the applicant must complete eighty hours of CPE within the two years immediately preceding the application receipt date. No education in personal development, as defined by the fields of study, may be counted toward the eighty hours.

D.VERIFICATION OF EXAM SCORES FOR CERTIFICATION

If examination scores cannot be verified through the Board's records or the records of the Board's designee, the Board may require the applicant to qualify and sit for the examination again prior to applying for licensure.

E.RECIPROCITY REQUIREMENTS

1. The Board may issue a certificate to an applicant who holds an active certificate or license issued by another state or the federal government, or who holds a military occupational specialty, as defined in section 24-4-201, C.R.S., provided the applicant:

a. Possessed the requirements necessary for issuance of a certificate in Colorado on the date that the applicant's certificate or license was issued by the other state, the applicant meets the Substantial Equivalency requirements defined in Rule 1.4, or the applicant submits proof that he or she has held for at least one year a current and valid certificate or license in another jurisdiction with a scope of practice that is substantially similar to the scope of practice as specified in Article 100 of Title 12, C.R.S.;

b. Provides verification that he holds an active certificate or license issued by another state; and

c. Attests to having completed Professional Ethics: The American Institute of Certified Public Accountants Comprehensive Course (for Licensure) or subsequently named course and all CPE required by the other state as of the application receipt date.

2. The applicant must complete two hours of CR&R within six months following the date the Board grants the initial certificate. CR&R completed within the six months immediately preceding the date the Board grants the initial Certification will satisfy this requirement.

3. An applicant who holds a certificate or license issued by another state or the federal government based upon passage of the examination but who does not hold a certificate or license to practice is not eligible for reciprocity through that certificate or license.

4. The Board may rely on NASBA, the AICPA, and other professional bodies deemed acceptable to the Board in determining whether an applicant meets the requirements of this Rule 1.8(E).

F.INTERNATIONAL APPLICANTS - MUTUAL RECOGNITION AGREEMENT (MRA)

1. The Board recognizes the IQAB, a joint body of NASBA and the AICPA, which is charged with:

a. Evaluating the professional credentialing process of CPAs, or their equivalents, from other countries; and

b. Negotiating principles of reciprocity agreements with the appropriate professional and governmental organizations of other countries seeking recognition as having requirements substantially equivalent to the requirements for the U.S. CPA certificate.

2. The Board may issue a certificate to an individual holding an active certificate or designation from an organization that has entered into a MRA with the IQAB, provided that the applicant has:

a. Passed the International Qualifications Examination (IQEX) or the Examination;

b. Has one year of work experience in accordance with the requirements of Rule 1.7; and

c. Completed the AICPA Ethics course and passed the AICPA Ethics Examination with a score of ninety percent or better within two years immediately preceding the application receipt date.

3. The applicant must complete two hours of CR&R within six months following the date the Board grants the initial certificate. CR&R completed within the six months immediately preceding the date the Board grants the initial certification will satisfy this requirement.

G.INTERNATIONAL APPLICANTS- NO MUTUAL RECOGNITION AGREEMENT (MRA)

1. If the applicant holds a certificate or designation from an organization that has not entered into a MRA with the IQAB, the Board may issue a certificate, provided that:

a. The applicant meets the requirements in Rule 1.8(B); and

b. The Board may require that the applicant provide an education evaluation pursuant to Rule 1.5(B)(4).

3 CCR 705-1.8

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