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December 2022 Compliance Advisory Group Updates

By January 6, 2023News

The LCvista Compliance Advisory Group wrapped up 2022 with a final meeting on December 6th.   The group continues to be integral in communicating ways to improve tracking of nuances in rules, submitting timely rule update requests, and requesting new jurisdictions.  Building and maintaining the leading CPE compliance solution for the accounting industry continues to be a joint effort between LCvista and our committed clients!

Below are highlights from the recent meeting.

Compliance Rule Updates

  • Arizona: Effective period ending 11/30/2022 state-specific ethics with the In-Firm delivery method are not counted towards ethics requirement
  • CAPM: Effective 1/1/22 updated field of study names and associated requirements
  • CMI Sales Tax, Property Tax, and SALT:
    • Effective 1/1/22 reduced total requirements to 36
    • Effective 1/1/22 reduced ethics requirement to 3
    • Effective 1/1/22 removed specialty area requirements
    • Fixed period 1/1/22 – 12/31/26, reverts to rolling period effective 1/1/27
  • Missouri:
    • Publication set to 1 credit increment in all periods
    • Effective 1/1/20 publication limit set to 2 credits
  • Nevada: Effective 1/1/24 annual requirement increases from 20 to 40 effective
  • New Jersey CLE:
    • Added Diversity/Inclusion/Elimination of Bias field of study
    • Effective 1/1/21 added 2 credit Diversity/Inclusion/Elimination of Bias requirement
    • Effective 1/1/20 removed self-study limit
    • Updated new licensee proration for all periods
    • Added 12 credit carryover allowance for all periods
  • New York CLE: Effective 1/1/23 “Cybersecurity, Privacy and Data Protection” requirement
  • New York CLE:
    • Renamed existing delivery methods
    • Separated Publication delivery method
    • Newly Licensed Attorney name and flag added to include “Transitional”
    • Effective 2018 – updated Transitional Attorney requirement names
    • Added delivery method requirements to several Transitional Attorney requirements
    • Removed Non-participatory delivery method limit
    • Added Publication delivery method limit
  • North Carolina: Effective 1/1/20 removed Publication delivery method from combined limit
  • Ohio: Effective for all periods – 90 credit instructor limit
  • PMP: Effective 1/1/22 updated field of study names and associated requirements
  • Virgin Islands: Effective 1/1/22 increased annual requirement from 20 to 40 credits
  • Virginia: Effective 1/1/22 added publication and pass exam delivery method limits
  • West Virginia: Removed instruction and publication limits for all periods

Other Compliance Discussions

  • Illinois Sexual Harassment Prevention:
    • Per Illinois CPA Society guidance October 2022 indicates training does not need to be provided by a NASBA CPE sponsor
    • Customer noted that if an employer has an office in the city of Chicago, there is an additional training
    • Firms can consider using the non-verifiable delivery method depending on the CPE approval level of Sexual Harassment Prevention training completed.  This would still qualify for IL credit and would map to the State’s “Non-Verifiable” credit limit
  • NASBA Sponsorship:
    • Discussed interest in LCvista offering training related to obtaining and maintaining NASBA sponsorship
  • New Jurisdictions vs. Certifications:
    • When requesting new jurisdictions, please indicate whether you prefer CPE requirement tracking or just tracking the designation is maintained (a “certification”).  Certifications can be built quickly, whereas CPE jurisdictions require more development time
  • Preferred Names user profile field:
    • Ongoing discussion related to use of legal and preferred first names in system, on certificates, and position on naming by states
  • Technical Reviewer Credit:
    • Nearly 66% of firms polled grant Technical Review credit only when requested
    • About 33% of firms polled do not grant Technical Review credit
    • Firms currently granting credit require an attestation by professional
  • Texas Reporting Form:
    • Continuing to monitor when Texas will release an electronic CPE Reporting form
  • Yellow Book Annual Requirements:
    • Approach varies by firm regarding 80 overall/20 annual requirements
    • LCvista investigating option to help professionals and firms determine who should be tracking Yellow Book and at which requirement level