New Continuing Education Requirements for Preparation Engagements
Effective October 1, 2017, licensees performing preparation engagements as their highest level of service will be required to complete eight hours of preparation engagement or accounting and auditing (A&A) continuing education (CE) and four hours of CE specifically related to the prevention, detection, and/or reporting of fraud affecting financial statements.
If this requirement applies to you, the following tips may help when completing your license renewal application.
- If preparation engagements are your highest level of service, be sure to document eight hours of CE specific to preparation engagements or accounting and auditing and four hours of fraud CE on the CE Reporting Worksheet.
- Please note preparation engagements are considered nonattest services and therefore do not fall under the A&A CE requirement. Additionally, when completing the Peer Review Reporting Form, please be aware that preparation engagements are excluded from peer review.
- If you perform preparation engagements in addition to accounting and auditing services, you are subject to the A&A requirement as preparation engagements will no longer be considered your highest level service.
If you have any questions regarding this new requirement, please contact the CBA's License Renewal and Continuing Competency Unit by telephone at (916) 561-1702 or by email at firstname.lastname@example.org.
Visit License Renewal and Continuing Education to learn more about the requirements to renew your license.