Section 193A.10.8. Programs that qualify and CPE limitations.

         10.8(1) The overriding consideration in determining whether a specific program qualifies as acceptable continuing education is that it be a formal program of learning which contributes directly to the professional competence of an individual certified or licensed in this state. It will be left to each individual certificate holder or license holder to determine the technical or nontechnical professional skills courses of study to be pursued. Thus, the auditor may study accounting and auditing, the tax practitioner may study taxes, and the management advisory services practitioner may study subjects related to such practice. Job-related continuing professional education shall qualify as acceptable provided the courses selected from nontechnical professional skills contribute to the professional competence of the certificate holder or license holder.

         10.8(2) Program standards:

            a.               Learning activities must be based on clearly defined, relevant learning objectives and outcomes that clearly articulate the knowledge, skills, and abilities that can be achieved by participants.

            b.               Learning activities must be developed in a manner consistent with the prerequisite education, experience, and advanced preparation of the participants.

            c.               Activities, materials, and delivery systems must be current, technically accurate, and effectively designed. Providers, sponsors, or contractors must be competent in the subject matter. Competence may be demonstrated through practical experience or education.

            d.               Learning programs must be reviewed by qualified persons other than those who develop the program to ensure that the program is technically accurate and current and addresses the stated learning objectives. This requirement is waived for single presentations such as lectures that are given once.

         10.8(3) Continuing professional education programs will qualify only if:

            a.               An outline of the program is prepared in advance and preserved.

            b.               The program is at least one hour (50-minute period) in length.

            c.               The program is conducted by a qualified instructor, discussion leader or lecturer. A qualified instructor, discussion leader or lecturer is anyone whose background, training, education or experience makes it appropriate for that person to lead a discussion on the subject matter of the particular program.

            d.               A record of attendance or certification of completion or transcript is maintained.

         10.8(4) The following programs are deemed to qualify provided all other requirements of this rule are met.

            a.               Professional development programs of recognized national and state accounting organizations.

            b.               Technical sessions at meetings of recognized national and state accounting organizations and their chapters.

            c.               Formally organized in-house or on-site educational programs provided by the certificate holder’s or license holder’s employer.

            d.               Distance learning programs or group study Webcast programs.

            e.               University or college courses meet the continuing professional education requirements of those attending.

Each semester hour shall be equal to 15 contact hours of credit. Each quarter hour shall be equal to 10 contact hours of credit.

            f.                Technical or nontechnical sessions offered by employers in business and industry, as well as firms of certified public accountants.

         10.8(5) Formal correspondence and formal self-study programs contributing directly to the professional competence of an individual that require registration and provide evidence of satisfactory completion will be considered for credit. The amount of credit to be allowed for correspondence and formal self-study programs (including tested study programs) shall be recommended by the program sponsor and based upon appropriate “field tests” and shall not exceed 50 percent of the renewal requirement. A licensee claiming credit for correspondence or formal self-study courses is required to obtain evidence of satisfactory completion of the course from the program sponsor. Credit will be allowed in the renewal period in which the course is completed.

         10.8(6) Credit may be allowed for self-study programs on the basis of one hour of credit for each 50 minutes spent on the self-study program if the developer of such programs is approved by either the national continuing professional education registry or by the NASBA continuing education registry and the program sponsor has not designated the amount of credit to be claimed for completing the course of study. The licensee must estimate the equivalent number of hours and justify the amount of hours claimed. The maximum credit shall not exceed 50 percent of the renewal requirement. Credit will be allowed in the renewal period in which the course is completed.

         10.8(7) The credit allowed an instructor, discussion leader, or speaker will be on the basis of two hours for subject preparation for each hour of teaching. Credit for teaching college or university coursework may be claimed for courses taught above the elementary accounting or principles of accounting level. Repetitious presentations shall not be considered. The maximum credit for such preparation and teaching shall not exceed 50 percent of the renewal period requirement.

         10.8(8) Credit may be awarded for published articles and books. The amount of credit so awarded will be determined by the board. Credit may be allowed for published articles and books provided they contribute to the professional competence of the licensee. Credit for preparation of such publications may be given on a self-declaration basis up to 25 percent of the renewal period requirement. In exceptional circumstances, a licensee may request additional credit by submitting the article(s) or book(s) to the board with an explanation of the circumstances that the licensee believes justify additional credit.

         10.8(9) Credit may be allowed for the successful completion of professional examinations as detailed below. Credit is calculated at the rate of five times the length of each examination, which is presumed to include all preparation time, claimed in the calendar year of the examination, and limited to 50 percent of the total renewal requirement.

            a.               Certified Management Accountant/CMA.

            b.               Certified Information Systems Auditor/CISA.

            c.               Certified Information Technology Professional/CITP.

            d.               Certified Financial Planner/CFP.

            e.               Enrolled Agent/EA.

            f.                Certified Governmental Financial Manager/CGFM.

            g.               Certified Government Auditing Professional/CGAP.

            h.               Certified Internal Auditor/CIA.

            i.                Accredited Business Valuation/ABV.

            j.                Certified Financial Forensics/CFF.

            k.               Certified Valuation Analyst/CVA.

            l.                Certified Insolvency & Restructuring Advisor/CIRA.

            m.              Forensic Certified Public Accountant/FCPA.

            n.               Certified Fraud Examiner/CFE.

            o.               Certified Business Analyst/CBA.

            p.               Certified Trust and Financial Advisor/CTFA.

            q.               Chartered Financial Analyst/CFA.

            r.                Registered Representative, Series 6 and 7 and other examinations.

            s.                Registered Investment Advisor/RIA.

            t.                Certified Forensic Accountant/CrFA.

            u.               Personal Financial Specialist/PFS.

            v.               Chartered Life Underwriter/CLU.

            w.               Fellow of the Society of Actuaries/FSA.

            x.               Chartered Property & Casualty Underwriter/CPCU.

            y.               Fellow Life Management Institute/FLMI.

            z.                Other similar examinations approved by the board.

         10.8(10) Firm meetings for staff or management groups for the purpose of administrative and firm matters do not meet the standards set forth in subrule 10.8(1).

         10.8(11) Dinner, luncheon and breakfast meetings of recognized organizations may qualify if they meet the appropriate requirements and shall be limited to 25 percent of the total renewal requirements if the individual meeting is no more than two hours long.

         10.8(12) Continuing professional education taken in nontechnical skills area as defined in rule 193A—10.2(542) shall be limited to 50 percent of the total renewal requirement.

         10.8(13) The board may look to recognized state or national accounting organizations for assistance in interpreting the acceptability of and credit to be allowed for individual courses.

         10.8(14) The right is specifically reserved to the board to approve or deny credit for continuing professional education claimed under these rules.

[ARC 9002B, IAB 8/11/10, effective 1/1/11]