(A) The continuing education requirement for certified public accountants and public accountants holding the Ohio permit is one hundred twenty credits for each triennial reporting period. The triennial reporting period begins on January first and ends on December thirty-first three years later. An Ohio permit holder must complete a minimum of twenty CPE credit annually. Failure to complete twenty CPE credits annually will result in a fine of ten dollars for every CPE credit deficient.
(B) All Ohio permit holders must complete the continuing education requirement defined in paragraph (A) of this rule by December thirty-first each year. Credit earned after that date may not be claimed toward fulfillment of the requirement unless the executive director, subject to board approval, grants an extension of time in accordance with rule 4701-15-07 of the Administrative Code.
(C) The continuing education requirement for new certified public accountants holding the Ohio permit is forty credits. The two-year reporting period begins on January first of the year in which the new certified public accountant obtains the CPA certificate, and ends on December thirty-first of the year following the year in which the new certified public accountant obtains the CPA certificate. No minimum annual requirements are required during the initial reporting period.
(D) An applicant whose status is expired, suspended or revoked shall complete no less than one hundred twenty hours of CPE during the three-year period prior to reinstatement to active status.
(E) A nonresident Ohio permit holder may fulfill the Ohio continuing education requirements by meeting the continuing education requirements of the state in which the Ohio permit holder's principal office is located. If that state does not have a continuing education requirement, then the nonresident Ohio permit holder must comply with the Ohio continuing education reporting requirements.
Five Year Review (FYR) Dates: 10/10/2014 and 12/01/2019
Promulgated Under: 119.03
Statutory Authority: 4701.11
Rule Amplifies: 4701.11
Prior Effective Dates: 1/17/75, 7/5/84, 1/17/85, 4/27/93, 9/22/93, 4/26/96, 9/20/96, 8/5/99, 9/15/03, 6/1/04, 8/25/05, 7/16/09