Accy 2.401 HistoryHistory: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.01, Register, October, 1976, No. 250, eff. 11-1-76; r. (4), Register, April, 1986, No. 364, eff. 5-1-86; renum. and am. (1), r. (2) and (3), Register, February, 1990, No. 410, eff. 3-1-90; CR 03-071: renum. from Accy 5.02 and am. Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. (title), (1) from Accy 5.01 and am., cr. (2) Register May 2016 No. 725, eff. 6-1-16. Accy 2.402(1)(1) The board shall evaluate public accounting experience and equivalent experience at each regularly scheduled board meeting. Evaluations may be made at special meetings, but normally will not be scheduled at such meetings. Accy 2.402(2)(2) The board shall review the candidate’s experience on written request by the candidate. Among the areas of experience that may be considered by the board are the following: Accy 2.402(2)(a)(a) Experience in accounting in industry and government may be considered equivalent to public accounting when it requires high levels of knowledge, competence and judgment. Accy 2.402(2)(b)(b) Experience in teaching accounting may be considered equivalent to public accounting when it is at an advanced and specialized level of accounting. Courses taught in areas other than accounting do not qualify as public accounting experience. Accy 2.402(2)(c)(c) Experience in law may be considered equivalent to public accounting when it is at a level with responsibility for independent accounting decisions and requires high levels of accounting knowledge, competence and judgment. Accy 2.402 HistoryHistory: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.02, Register, October, 1976, No. 250, eff. 11-1-76; CR 03-071: renum. from Accy 5.03 and am., cr. (2) (a) to (c) Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.02 Register May 2016 No. 725, eff. 6-1-16. Accy 2.403Accy 2.403 Public accounting experience. An individual must have at least one year of public accounting experience or its equivalent as determined by the board. Experience shall be acquired after the applicant has satisfied one of the requirements under s. Accy 2.303. This experience must have been acquired within 5 years prior to applying for the certification as a certified public accountant. Accy 2.403 HistoryHistory: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.03, Register, October, 1976, No. 250, eff. 11-1-76; CR 01-047: am. Register December 2002 No. 564, eff. 1-1-03; CR 03-071: renum. from Accy 5.04 Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.03 and am. Register May 2016 No. 725, eff. 6-1-16; EmR1618: emerg. am., eff. 9-26-16; EmR1713: emerg. am., eff. 6-23-17; CR 17-064: am., Register March 2018 No. 747 eff. 4-1-18. Accy 2.404(1)(1) The nature and level of an employee’s position or job title and position description is considered. Accy 2.404(2)(2) Part-time employment can be counted proportionately, but normally is given little weight. If part-time employment is combined with full-time employment, the full-time employment is normally given the most weight. Accy 2.404(3)(3) No more than one day of experience is allowed for any calendar day. Accy 2.404 HistoryHistory: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.07, Register, October, 1976, No. 250, eff. 11-1-76; am. Register, December, 1978, No. 276, eff. 1-1-79; CR 03-071: renum. from Accy 5.08 and am. Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.04 Register May 2016 No. 725, eff. 6-1-16. Accy 2.405Accy 2.405 Bookkeeping and elementary individual tax return preparation. Bookkeeping and elementary individual tax return preparation are generally not considered to be qualifying experience. Accy 2.405 HistoryHistory: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.08, Register, October, 1976, No. 250, eff. 11-1-76; CR 03-071: renum. from Accy 5.09 and am. Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.05 Register May 2016 No. 725, eff. 6-1-16. Accy 2.406Accy 2.406 Judgment. Experience evaluations are based on the judgment of the board. Accy 2.406 HistoryHistory: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.11, Register, October, 1976, No. 250, eff. 11-1-76; CR 03-071: renum. from Accy 5.12 and am. Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.07 Register May 2016 No. 725, eff. 6-1-16. Accy 2.501Accy 2.501 Requirements for renewal and reinstatement of individual licenses. Accy 2.501(1)(1) Renewal before 5 years. An individual certified public accountant who files an application for renewal of a license within 5 years after the renewal date may renew his or her license by filing with the board all of the following: Accy 2.501(1)(a)(a) An application for renewal on a form prescribed by the department that includes the applicant’s representation under penalties of perjury that, during the 2-year period immediately preceding the date of application, the applicant has completed at least 80 continuing professional development credits meeting the requirements under s. Accy 2.602. Accy 2.501(2)(2) Renewal after 5 years. An individual certified public accountant who files an application for renewal of a license 5 years or more after the renewal date may renew his or her license by filing with the board all of the following: Accy 2.501(2)(a)(a) An application for renewal on a form prescribed by the department that includes the applicant’s representation under penalties of perjury that, during the one-year period immediately preceding the date of application, the applicant has completed at least 120 continuing professional development credits meeting the requirements under s. Accy 2.602. Accy 2.501(2)(c)(c) Verification of successful completion of examinations specified in s. Accy 2.301 or education specified in s. Accy 2.202 or both as may be prescribed by the board. Accy 2.501(3)(a)(a) Notwithstanding the board’s authority under s. 442.12 (1) (g), Stats., to grant a hearing pursuant to an application in writing and notice, an individual certified public accountant who has a license with unmet disciplinary requirements and who has failed to renew the license within 5 years after the renewal date, or an individual whose license has been surrendered or revoked, may apply for reinstatement of his or her license. The request shall be in writing and be accompanied by all of the following: Accy 2.501(3)(a)3.3. Evidence of rehabilitation or change in circumstances warranting reinstatement of the credential. Accy 2.501(3)(b)(b) The board shall grant reinstatement of a license following an application for reinstatement under par. (a) if the board determines the individual has satisfied the requirements under par. (a) 1. to 3. and the board determines reinstatement is warranted. Accy 2.501 HistoryHistory: 2015 Wis. Act 217: cr. Register May 2016 No. 725, eff. 6-1-16; CR 19-049: am. (1) (a), (2) (a) Register November 2019 No. 767, eff. 12-15-19. Accy 2.601Accy 2.601 Definitions. In this subchapter: Accy 2.601(3)(3) “Inactive certificate holder” means an individual who holds an unrevoked certificate as a certified public accountant granted under s. 442.04 (1), Stats., and who does not hold a current license to practice as a certified public accountant issued under s. 442.08 (1), Stats. Accy 2.601 HistoryHistory: CR 19-049: cr. Register November 2019 No. 767, eff. 12-15-19. Accy 2.602Accy 2.602 CPE requirements for certified public accountants. Accy 2.602(1)(1) Completion of CPE credits. During each compliance period, a licensee shall complete at least 80 CPE credits that contribute to growth in professional knowledge and professional competence. At least 20 CPE credits shall be completed during each 12-month period of each compliance period. The 80 CPE credits shall include not less than 40 CPE credits from formal learning activities meeting the requirements under s. Accy 2.603 (1) and (2). Accy 2.602(2)(2) CPE related to ethics. Three of the CPE credits from formal learning activities required under sub. (1) or (5) shall be on the subject of ethics. Accy 2.602(3)(3) Credit for formal and informal learning activities. Fifty minutes of participation in a formal or informal learning activity is equal to one CPE credit. CPE credits may be claimed in increments of one-tenth of a credit, which is equal to 5 minutes of participation in a formal or informal learning activity. Accy 2.602(4)(4) Credit for CPE from another jurisdiction. A licensee holding a current unrevoked CPA license issued by any other United States CPA licensing jurisdiction shall meet the requirements under subs. (1) and (2) if the licensee is in compliance with the continuing professional education or continuing professional development CPA licensing requirements of the jurisdiction in which the other license is held. Accy 2.602(5)(5) Exemption for new licensees and inactive certificate holders. Accy 2.602(5)(a)(a) The requirements under sub. (1) are reduced by one-half for a compliance period during which a CPA is initially licensed during the first year of such compliance period, and do not apply to a compliance period during which a CPA is initially licensed during the second year of such compliance period. Accy 2.602(5)(b)(b) The requirements under sub. (1) do not apply to an inactive certificate holder to whom all of the following apply: Accy 2.602(5)(b)2.2. The certificate holder does not use the title or designation of “certified public accountant” without the word “inactive.” Accy 2.602(6)(6) Certification statement. At the time of each renewal, an applicant shall sign a statement certifying that the CPE credit hours required under this section have been completed. Accy 2.602(7)(7) Carryforward of CPE credits. A licensee may carry forward from one compliance period to the next consecutive compliance period a maximum of 40 CPE credits that exceed the minimum number of credits required to satisfy requirements in the earlier compliance period, which credits may represent any combination of formal and informal learning activities and shall retain their character as formal or informal learning activity credits. Accy 2.602(8)(8) Carryback of CPE credits. A licensee may carry back CPE credits earned during the first 12 months of a compliance period to the immediately preceding compliance period to the extent necessary to allow the individual to satisfy the CPE requirements for such preceding period, provided the individual does not count such carryback credits to satisfy CPE requirements for more than one compliance period. Accy 2.602(9)(9) Failure to complete CPE credits. A licensee who fails to complete the requirements under this section may not practice in this state as a certified public accountant until the license is renewed or reinstated under s. Accy 2.501. Accy 2.602(10)(a)(a) The number of CPE credits that may be claimed by an instructor, discussion leader, or speaker for preparation and presentation of a CPE learning activity may not exceed 3 times the number of credits awarded to individuals attending or participating in such CPE learning activity. CPE credits may not be claimed for any activity related to subsequent presentations of the same course unless the content has been substantially changed. Accy 2.602(10)(b)(b) CPE credits for participating in a specific learning activity may not be claimed in more than one compliance period. Accy 2.602(10)(c)(c) Successful completion of a one credit semester university or college course shall be equal to 15 CPE credits. Successful completion of a one credit quarter university or college course shall be equal to 10 CPE credits. Accy 2.602(10)(d)(d) CPE credits may not be claimed for time devoted to studying for or taking the CPA examination. Accy 2.602(11)(11) Recordkeeping. A licensee shall retain documentation of each activity for which CPE credits are claimed for at least 5 years from the date on which the activity was completed. Accy 2.602(12)(12) Waiver of CPE credits. The board may waive all or a portion of the CPE credits required under this section if it finds exceptional circumstances such as prolonged illness, disability, or other similar circumstances have prevented a licensee from meeting the requirements. Accy 2.602(13)(13) Board authority. Subject to s. 440.035 (2), Stats., the board has the authority to determine whether CPE learning activities claimed by a CPA satisfy the requirements under this section. Accy 2.602 HistoryHistory: CR 19-049: cr. Register November 2019 No. 767, eff. 12-15-19; correction in (13) made under s. 13.92 (4) (b) 7., Stats., Register November 2019 No. 767. Accy 2.603Accy 2.603 Criteria for acceptance of learning activities. Accy 2.603(1)(1) Qualifying learning activities. Acceptable formats for formal and informal learning activities include all of the following: Accy 2.603(1)(j)(j) Engaging in learning activities similar to those under pars. (a) to (i) that enhance a participant’s professional growth and competence. Accy 2.603(2)(2) Requirements for approval of formal learning activities. The board shall accept a formal learning activity that meets all of the following requirements: Accy 2.603(2)(a)(a) An individual’s participation can be objectively confirmed by a program sponsor. Accy 2.603(2)(b)(b) Materials describing the activity specify all of the following: Accy 2.603(2)(b)5.5. The number of CPE credits awarded by the program sponsor for participating in the activity. Accy 2.603(2)(c)(c) The program sponsor and any individual presenting or supervising the activity have education and experience qualifications appropriate for the activity to enhance the competency of learning activity participants. Accy 2.603(3)(3) Requirements for approval of informal learning activities. The board shall accept an informal learning activity for which the participant has documented all of the following: Accy 2.603(3)(b)(b) The date or dates on which the learning activity was performed and completed.
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